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Best Paper Awards 2017

Best Research Paper

Assoc. Prof. Umashanger Thayasivam
Rowan University, USA

Best Student Paper

Mrs. Jayani Hapugoda
The Open University of Sri Lanka

Mr. Ricie Bulanhagui

Best Paper Awards 2016

Best Research Paper

Dr. Ghaliah Yahya M. Alhamzi
Swansea University, UK

Best Student Paper

Mr. Julian Watonulian
Imperial College London, UK

Best Paper Awards 2015

Best Research Paper

Dr. Thorsten Dickhaus
Weierstrass Institute for Applied Analysis and Stochastics Berlin

Best Student Paper

Ms. Maha Bakoben
Imperial College London, UK


Best Paper Awards 2014

Best Research Paper

Prof. Messaoud Bounkhel
King Saud University
Saudi Arbia

Best Student Paper

Ms. Ndèye Fatma
University of Le Havre, France

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Selected Paper Submissions for Oral Presentation at CMCGS 2017 (as at 8th Aug 2017)


The theorem of the index of Atiyah and Singer revolutionized not only modern mathematics but also physics. It provides a theoretical framework for defining the supersymmetry, not yet discovered, concept in quantum field theory. The theory of geometric fields on a macroscopic scale becomes topological at the Planck scale. We owe it all to the theorem of the Atiyah- Singer index.
Marine ecosystems are very complex in nature and many food webs are becoming endangered mostly due to overfishing. Conventional fisheries management tools, such as maximum sustainable yield (MSY), maximum economic yield MEY), taxation, license fees, catch quotas etc are failed to provide sustainability of many marine food webs. Scientists are now advised for ecosystem based fisheries management approach for conservation of marine resources. Marine protected areas are considered as an integral part of ecosystem based fisheries management tool and some past works suggest that it is effective for both species conservation and to enhance yield (Kar and Matsuda, 2008). However in few cases it is observed that MPAs have no or very little impact on the recovery of depleted fishing stocks. There has been widespread speculation that this lack of recovery is due to the existence of alternative stable states (Takashina and Mougi, 2014). In the present research, we formulate a mathematical model, in the form of a system of ordinary differential equations, to describe the effects of marine protected areas on a predator-prey system having alternative stable states. The main objective of this research is to furnish, to the greatest extent, the impacts due to variation of reserve area and migration rate of species. We explain how the multiple states are appeared and disappeared due to the creation of reserve area. It is shown that initial population level has a great influence on the convergence of the dynamic solution. It is also shown that MPAs always have a positive impact on an ecosystem have multiple stable states.
Chinese economy nowadays received impacts from various economic activities internationally and accordingly the risk measurement and management system are worthy of discussion. In the past two decades, the VaR and ES have been widely introduced and discussed. However, in a recent consultative document, the Basel Committee on Banking Supervision suggests replacing Value-at-Risk (VaR) by expected shortfall (ES) for setting capital requirements for banks’ trading books because ES better captures tail risk than VaR. However, besides ES, another risk measure called median shortfall (MS) also captures tail risk by taking into account both the size and likelihood of losses. The study argues that MS is a better alternative than ES as a risk measure for setting capital requirements in China because: (1) MS is elicitable but ES is not; (2) MS has distributional robustness with respect to model misspecification but ES does not; (3) MS is easy to implement but ES is not. In this paper, properties of VaR, MS and ES (e.g. elicitability, robustness and sub-additivity) are critically compared. Together with comparison of properties, backdatings are used to give reference of accuracy. By the approach of backtesting (traffic light) of MS and VaR, we could see many similarities but differences from ES in the paper. This paper adopts the test statistics Z2 (Acerby & Szekely, 2014) for ES becktesting. This study aims to study high-volatile periods of Chinese stock market and use conditional EVT which can capture tail risks incisively as indicator to estimate VaR, MS and ES. Also, this study seeks to suggest a more suitable risk measure and management system for Chinese stock market especially in a high-risk period in line with the properties and accuracy.

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