We explore a new dimension of fund managers' timing ability by examining whether they can time market liquidity through adjusting their portfolios'market exposure as aggregate liquidity conditions change. Using a large sample of hedge funds, we find strong evidence of liquidity timing. A bootstrap analysis suggests that top-ranked liquidity timers cannot be attributed to pure luck. In out-of-sa...

We deal with temporal aspects of distributed systems, introducing and studying a new model called timed distributed π-calculus. This model extends distributed π-calculus with timers, transforming the communication channels into temporary resources. Distributed π-calculus describes located interactions between processes with restricted access to resources. We introduce time constraints by consid...

Common sense dictates that single-shot timer mechanisms are more suitable for real-time applications thanperiodic ones, specially inwhat concerns precision and jitter. Nevertheless, real-time embedded systems are inherently periodic, with tasks whose periods are almost always known at design-time. Therefore a carefully designed periodic timer should be able to incorporate much of the advantages...

Timers and timing circuits are used in a wide variety of applications. From short time delays of a few nanoseconds used in digital circuitry and computers, to long periods of thousands of hours, used to control daily, weekly, or yearly events, electronic circuits can provide this function reliably, accurately and repeatably, with no need to provide any user input or monitoring once the time has...

Rheum emodi Wall has been reported to possess protective effect in many inflammatory diseases and oxidative stress-related injuries. This study aims to investigate antioxidant power of stilbenoids from R. emodi and then explore the material basis for its antioxidant potential. The most abundant stilbenoid piceatannol-4'-O-β-D-glucopyranoside (PICG) and its aglycon piceatannol (PICE) were isolat...

SCOPE The cathelicidin antimicrobial peptide (CAMP) gene is induced by 1α,25-dihydroxyvitamin D3 (1α,25(OH)2 D3), lithocholic acid, curcumin, nicotinamide, and butyrate. Discovering additional small molecules that regulate its expression will identify new molecular mechanisms involved in CAMP regulation and increase understanding of how diet and nutrition can improve immune function. METHODS ...

We argue that mutual fund managers should trade actively only when the market presents opportunities to pick stocks with positive alpha. In this paper, we propose stock-selection opportunity measures and show a significant portion of funds time their active trading, i.e., they more opportunities. timers outperform negative by about 82 bps in annualized four-factor alpha over subsequent six-mont...

As new services requiring multicast communications become more common, the deployment of selective multicasting in bridged LANs becomes essential. The GARP/GMRP protocol, defined in the IEEE 802.1p standard, addresses this issue. The performance of this protocol depends heavily on the values of the various timers that control it. In this paper we study the performance of GARP/GMRP in terms of r...