Applying a multifactor alpha model across a diverse range of stocks is a popular approach to forecast securities' expected returns. This approach assumes that one single return-generating equation provides adequate alpha forecasts - that is, one-size-fits-all. In this paper, we extend prior...

There are lingering questions in the financial industry regarding the concepts of risk contribution and risk budgeting. The questions stem from both the simple belief that risks are non-additive and a lack of financial intuition behind mathematical definitions of these concepts. This paper...

Due to a lack of clear financial interpretation, there are lingering questions in the financial industry regarding the concepts of risk contribution. This paper provides as well as analyzes risk contribution's financial interpretation that is based on expected contribution to potential losses of...

Biomass-fueled combined cooling, heating, and power (CCHP) system is a sustainable distributed energy system to reduce fossil energy consumption and carbon dioxide emission. This study proposes a biomass CCHP system that contains a biomass gasifier, a heat pipe heat exchanger for recovering...

Surface global solar radiation (GSR) is the primary renewable energy in nature. Geostationary satellite data are used to map GSR in many inversion algorithms in which ground GSR measurements merely serve to validate the satellite retrievals. In this study, a simple algorithm with artificial...

Failure of a component in BCHP (building cooling, heating and power) system may result in failure of a sub-system or of the whole system. The reliability and availability analysis of BCHP system is helpful to the designer to decide the redundancy in case of equipment failure. This paper presents...

A theoretic model is developed to describe the moisture desorption-and-adsorption cycle of silica gel dehumidification system with or without ultrasonic-assisted regeneration. The model has been validated by a series of experiments. The AMRC (additional moisture removal capacity) and the DCOP...

The water balance of inland lakes on the Tibetan Plateau (TP) involves complex hydrological processes; their dynamics over recent decades is a good indicator of changes in water cycle under rapid global warming. Based on satellite images and extensive field investigations, we demonstrate that a...

Biomass gasification based building cooling, heating, and power (BCHP) system is an effective way of increasing and improving the use of biomass resources and distributed generation. The key step in designing a BCHP plant is to determine the best configuration in terms of the integrated...

We analyze the agricultural industrial competitiveness in China's 30 provinces (municipalities and autonomous regions), to provide a reference for the relevant state departments to develop the agricultural industry policy. Using factor analysis and expert consulting method, we determine the...