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The advent of the fourth industrial revolution, Industry 4.0, brings about both opportunities and challenges that are likely to set developed economies even farther apart from emerging economies. This book, through the perspective of researchers in the emerging markets, presents analyses on a number of issues important to entrepreneurial finance, such as debt financing, mergers and acquisitions, stock market efficiency, resource allocation and consumption, and sustainable development. It aims at improving our understanding of the financing needs as well as the financial risks involved in entrepreneurial endeavors in less developed settings in the new era.

Economics, finance, business & management --- competition --- wage --- net income per employee --- firm performance --- productivity --- Vietnam --- listed company --- adaptive market hypothesis --- market efficiency --- autocorrelation --- M&amp --- A --- wealth effects --- propensity score matching --- emerging markets --- environmental Kuznets curve (EKC) --- Industry 4.0 --- information and communications technology (ICT) --- wave of environmentalism --- energy intensive industry --- income elasticity of CO2 --- U-shaped relationship --- entrepreneurship --- entrepreneurial finance --- English training --- entrepreneurial opportunities --- edtech --- finance performance --- computational entrepreneurship --- sustainable development

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The present volume gathers contributions to the conference Microlocal and Time-Frequency Analysis 2018 (MLTFA18), which was held at Torino University from the 2nd to the 6th of July 2018. The event was organized in honor of Professor Luigi Rodino on the occasion of his 70th birthday. The conference’s focus and the contents of the papers reflect Luigi’s various research interests in the course of his long and extremely prolific career at Torino University.

Partial differential equations. --- Harmonic analysis. --- Operator theory. --- Global analysis (Mathematics). --- Manifolds (Mathematics). --- Functional analysis. --- Partial Differential Equations. --- Abstract Harmonic Analysis. --- Operator Theory. --- Global Analysis and Analysis on Manifolds. --- Functional Analysis. --- Functional calculus --- Calculus of variations --- Functional equations --- Integral equations --- Geometry, Differential --- Topology --- Analysis, Global (Mathematics) --- Differential topology --- Functions of complex variables --- Geometry, Algebraic --- Functional analysis --- Analysis (Mathematics) --- Functions, Potential --- Potential functions --- Banach algebras --- Calculus --- Mathematical analysis --- Mathematics --- Bessel functions --- Fourier series --- Harmonic functions --- Time-series analysis --- Partial differential equations --- Microlocal analysis. --- Time-series analysis. --- Analysis of time series --- Autocorrelation (Statistics) --- Harmonic analysis --- Mathematical statistics --- Probabilities

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Machine learning is a relatively new field, without a unanimous definition. In many ways, actuaries have been machine learners. In both pricing and reserving, but also more recently in capital modelling, actuaries have combined statistical methodology with a deep understanding of the problem at hand and how any solution may affect the company and its customers. One aspect that has, perhaps, not been so well developed among actuaries is validation. Discussions among actuaries’ “preferred methods” were often without solid scientific arguments, including validation of the case at hand. Through this collection, we aim to promote a good practice of machine learning in insurance, considering the following three key issues: a) who is the client, or sponsor, or otherwise interested real-life target of the study? b) The reason for working with a particular data set and a clarification of the available extra knowledge, that we also call prior knowledge, besides the data set alone. c) A mathematical statistical argument for the validation procedure.

History of engineering & technology --- deposit insurance --- implied volatility --- static arbitrage --- parameterization --- machine learning --- calibration --- dichotomous response --- predictive model --- tree boosting --- GLM --- validation --- generalised linear modelling --- zero-inflated poisson model --- telematics --- benchmark --- cross-validation --- prediction --- stock return volatility --- long-term forecasts --- overlapping returns --- autocorrelation --- chain ladder --- Bornhuetter–Ferguson --- maximum likelihood --- exponential families --- canonical parameters --- prior knowledge --- accelerated failure time model --- chain-ladder method --- local linear kernel estimation --- non-life reserving --- operational time --- zero-inflation --- overdispersion --- automobile insurance --- risk classification --- risk selection --- least-squares monte carlo method --- proxy modeling --- life insurance --- Solvency II --- claims prediction --- export credit insurance --- semiparametric modeling --- VaR estimation --- analyzing financial data --- n/a --- Bornhuetter-Ferguson

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Spruce budworm (Choristoneura fumiferana (Clem.)) outbreaks are a dominant natural disturbance in the forests of Canada and northeastern USA. Widespread, severe defoliation by this native insect results in large-scale mortality and growth reductions of spruce (Picea sp.) and balsam fir (Abies balsamea (L.) Mill.) forests, and largely determines future age–class structure and productivity. The last major spruce budworm outbreak defoliated over 58 million hectares in the 1970s–1980s, and caused 32–43 million m3/year of timber volume losses from 1978 to 1987, in Canada. Management to deal with spruce budworm outbreaks has emphasized forest protection, spraying registered insecticides to prevent defoliation and keep trees alive. Other tactics can include salvage harvesting, altering harvest schedules to remove the most susceptible stands, or reducing future susceptibility by planting or thinning. Chemical insecticides are no longer used, and protection strategies use biological insecticides Bacillus thuringiensis (B.t.) or tebufenozide, a specific insect growth regulator. Over the last five years, a $30 million research project has tested another possible management tactic, termed an ‘early intervention strategy’, aimed at area-wide management of spruce budworm populations. This includes intensive monitoring to detect ‘hot spots’ of rising budworm populations before defoliation occurs, targeted insecticide treatment to prevent spread, and detailed research into target and non-target insect effects. The objective of this Special Issue is to compile the most recent research on protection strategies against spruce budworm. A series of papers will describe results and prospects for the use of an early intervention strategy in spruce budworm and other insect management.

pheromone mating disruption --- spruce budworm --- insecticide application --- multi-spectral remote sensing --- simulation --- apparent fecundity --- Choristoneura fumiferana (Clemens) --- Pinaceae --- Choristoneura fumiferana --- circadian rhythm --- forest protection --- early intervention strategy --- insect population management --- moth --- survival --- Phialocephala scopiformis --- moths --- optimized treatment design --- spatial-temporal patterns --- monitoring --- modelling --- science communication --- decision support system --- population control --- area-wide management --- tortricidae --- insect susceptibility --- egg recruitment --- annual defoliation --- treatment threshold --- Maine --- dispersal --- growth rate --- forest pests --- Choristoneura fumiferana (Clem.) --- mixed effect models --- intertree variance --- endophytic fungi --- Acadian region --- insecticides --- defoliation --- Abies balsamea --- Picea glauca --- immigration --- defoliation prediction --- early intervention --- Quebec --- phenology --- aerobiology --- economic losses --- spatial autocorrelation --- foliage protection --- computable general equilibrium model --- economic and ecological cost: benefit analyses --- hardwood content --- plant tolerance --- Lepidoptera --- migration

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The management of natural resources can be approached using different data sources and techniques, from images registered by sensors of onboard satellites to UAV platforms, using remote sensing techniques and geographic information systems, among others. The variability of problems and projects to be analyzed, studied, and solved is very wide. This book presents a collection of different experiences, ranging from the location of areas of interest to the simulation of future scenarios of a territory at local and regional scales, considering spatial resolutions ranging from centimeters to hundreds of meters. The common objective of all the works compiled in this book is to support decision-making in environmental management.

Research & information: general --- secondary succession monitoring --- Natura 2000 threats --- tree detection --- archival photographs --- spectro-textural classification --- granulometric analysis --- GLCM --- alpine grassland --- fractional vegetation cover --- ground survey --- precision evaluation --- multi-scale LAI product validation --- PROSAIL model --- EBK --- crop growth period --- adaptive K-means algorithm --- heavy industry heat sources --- NPP-VIIRS --- active fire data --- night-time light data --- spatial autocorrelation --- spatial pattern --- spatial relationship --- natural wetlands changes --- associated influencing factors --- mainland China --- farmland abandonment mapping --- textural segmentation --- aerial imagery --- land use --- Poznań --- agent based modeling --- disaster management --- resource allocation --- high severity level --- first come first serve --- geographical information system --- bearing capacity --- analytic hierarchy process --- geographical survey of national conditions --- hotspot analysis --- topsis algorithm --- automatic identification system data --- 21st Century Maritime Silk Road region --- oil flow analysis --- maritime oil chokepoint --- Middle East Respiratory Syndrome --- seismic parameters --- GIS --- seismicity --- spatial analysis --- b-value --- earthquake catalog --- future scenarios --- prelude --- dynamic of land use --- Spatial Decision Support System, CORINE Land Cover --- remote sensing --- geographic information system