Two typical satellite sea surface temperature (SST) datasets, from the Multi-functional Transport Satellite (MTSAT) and Tropical Rainfall Measuring Mission Microwave Imager (TMI), were evaluated for the East China Sea...Two typical satellite sea surface temperature (SST) datasets, from the Multi-functional Transport Satellite (MTSAT) and Tropical Rainfall Measuring Mission Microwave Imager (TMI), were evaluated for the East China Sea, Yellow Sea, and Bohai Sea throughout 2008. Most monthly-mean availabilities of MTSAT are higher than those of TMI, whereas the seasonal variation of the latter is less than that of the former. The analysis on the one-year data shows that the annual mean availability of MTSAT (61%) is greater than that of TMI (56%). This is mainly because MTSAT is a geostationary satellite, which achieves longer observation than the sun-synchronous TMI. The daily availability of TMI (28%-75%) is more constant than that of MTSAT (9%-93%). The signal of infrared sensors on MTSAT is easily disturbed on cloudy days. In contrast, the TMI microwave sensor can obtain information through clouds. Based on in-situ SSTs, the SST accuracy of TMI is superior to that of MTSAT. In 2008, the root mean square (RMS) error of TMI and MTSAT were 0.77 K and 0.84 K, respectively. The annual mean biases were 0.14 K (TMI) and -0.31 K (MTSAT). To attain a high availability of SSTs, we propose a fusion method to merge both SSTs. The annual mean availability of fusion SSTs increases 17% compared to MTSAT. In addition, the availabilities of the fusion SSTs become more constant. The annual mean RMS and bias of fusion SSTs (0.78 K and -0.06 K, respectively) are better than those of MTSAT (0.84 K and -0.31 K).展开更多
The stock market is full of events that affect the sensitivity reaction of investors at a large scale. Individual investor sentiment is just like his/her personal feeling depending upon their nature, risk appetite, an...The stock market is full of events that affect the sensitivity reaction of investors at a large scale. Individual investor sentiment is just like his/her personal feeling depending upon their nature, risk appetite, and market scenario. This research study investigates the investors’ reaction in the stock market for the real estate segment during the massive market crisis in developing countries. Demonetisation of 2016 in India has been taken with the purpose of implementing a pilot study to analyse the overreaction and availability bias. The primary focus was on analysing how the investors react on the information of demonetisation and their pattern of investment in the stock market with a special emphasis on real estate sector where the effect of the event had dramatically changed the stock prices. Therefore, a pre- and post- analysis had been conducted to gauge the prices, sensitivity, and reaction of investors in the stock market. The reaction of the citizens after these events was found to be drastically affected. Five real estate companies had been focused upon in this study to examine the impact of investors’ overreaction owing to the demonetisation and their investment pattern for stocks during pre- and post- demonetisation period at that timeframe. The analysis was done on a shorter period of time so that the impact of overreaction and availability bias can be critically analysed. The paper thus exhibits how investor sentiments and reaction for stock preference had changed over time through statistical study.展开更多
基金Supported by the Open Fund of the Key Laboratory of Ocean Circulationand Waves,Chinese Academy of Sciences(No.KLOCAW1010)the Knowledge Innovation Program of Chinese Academy of Sciences(No.KZCX1-YW-12-04)the National High Technology Research and Development Program of China(863Program)(Nos.2007AA092202,2008AA121701)
文摘Two typical satellite sea surface temperature (SST) datasets, from the Multi-functional Transport Satellite (MTSAT) and Tropical Rainfall Measuring Mission Microwave Imager (TMI), were evaluated for the East China Sea, Yellow Sea, and Bohai Sea throughout 2008. Most monthly-mean availabilities of MTSAT are higher than those of TMI, whereas the seasonal variation of the latter is less than that of the former. The analysis on the one-year data shows that the annual mean availability of MTSAT (61%) is greater than that of TMI (56%). This is mainly because MTSAT is a geostationary satellite, which achieves longer observation than the sun-synchronous TMI. The daily availability of TMI (28%-75%) is more constant than that of MTSAT (9%-93%). The signal of infrared sensors on MTSAT is easily disturbed on cloudy days. In contrast, the TMI microwave sensor can obtain information through clouds. Based on in-situ SSTs, the SST accuracy of TMI is superior to that of MTSAT. In 2008, the root mean square (RMS) error of TMI and MTSAT were 0.77 K and 0.84 K, respectively. The annual mean biases were 0.14 K (TMI) and -0.31 K (MTSAT). To attain a high availability of SSTs, we propose a fusion method to merge both SSTs. The annual mean availability of fusion SSTs increases 17% compared to MTSAT. In addition, the availabilities of the fusion SSTs become more constant. The annual mean RMS and bias of fusion SSTs (0.78 K and -0.06 K, respectively) are better than those of MTSAT (0.84 K and -0.31 K).
文摘The stock market is full of events that affect the sensitivity reaction of investors at a large scale. Individual investor sentiment is just like his/her personal feeling depending upon their nature, risk appetite, and market scenario. This research study investigates the investors’ reaction in the stock market for the real estate segment during the massive market crisis in developing countries. Demonetisation of 2016 in India has been taken with the purpose of implementing a pilot study to analyse the overreaction and availability bias. The primary focus was on analysing how the investors react on the information of demonetisation and their pattern of investment in the stock market with a special emphasis on real estate sector where the effect of the event had dramatically changed the stock prices. Therefore, a pre- and post- analysis had been conducted to gauge the prices, sensitivity, and reaction of investors in the stock market. The reaction of the citizens after these events was found to be drastically affected. Five real estate companies had been focused upon in this study to examine the impact of investors’ overreaction owing to the demonetisation and their investment pattern for stocks during pre- and post- demonetisation period at that timeframe. The analysis was done on a shorter period of time so that the impact of overreaction and availability bias can be critically analysed. The paper thus exhibits how investor sentiments and reaction for stock preference had changed over time through statistical study.
