364 research outputs found
The relationship between South Asian stock returns and macroeconomic variables
Get PDFThis article investigates whether economic variables have explanatory power for share returns in South Asian stock markets. In particular, using data for four South Asian emerging stock markets over the period 1998 – 2012, the article examines the influence of a selection of local, regional and global economic variables in explaining equity returns; most previous studies that have examined this issue have tended to focus on only local and/or global factors. Important factors are identified by distilling the macroeconomic variables into principal components. Economic activities, real interest rates, real exchange rates and the trade balance represent local factors. Regional factors are represented by inter-regional trade and regional economic activity while global factors are represented by world financial asset returns and world economic activity. The Vector Autoregression results suggest that the South Asian markets examined are not efficient. Both local and regional factors can directly and indirectly explain Bangladeshi, Pakistani and Sri Lankan stock returns while the lagged returns of the Pakistani stock market and world economic activity can explain Indian stock returns
An Investigation of the Weak Form of the Efficient Markets Hypothesis for the Kuwait Stock Exchange
Get PDFThis article investigates the weak form of the efficient market hypothesis (EMH) for the Kuwait Stock Exchange (KSE). In particular, it tests whether share returns on the KSE exhibit patterns which may be used to predict future share price changes. Ten filter rules are tested on weekly data for 42 firms over the period 1998–2011. The results suggest that the KSE was not weak-form efficient because patterns and trends were present in security prices. In addition, the results are consistent with the substantive literature which has argued that emerging stock markets are informationally inefficient, such as Fifield, Power and Sinclair (2005, 2008) and Xu (2010) and particularly those early studies of Al-Shamali (1989) and Al-Loughani and Moosa (1999) that looked at trading rules for the KSE.</p
Is There a Risk and Return Relation?
Get PDFTraditional finance theory posits that the relation between the risk and return of stocks is positive. Furthermore, investment practice is often based on the central contention that high (low) beta stocks earn higher (lower) returns. However, this fundamental relation is questioned by a several researchers who assert that the relation is, in fact, negative. Consequently, a growing body of research examines the nature of the stock return-risk relation using both market- and firm-level data. The results of this research are mixed. The purpose of this paper is to shed further light on this question by (i) examining both market- and firm-level price data; (ii) employing a battery of tests, including individual market, panel and quantile regressions; and (iii) analysing the nature of the relation during periods of high and low volatility and in bull and bear markets. The results indicate that there is no single robust relation between risk and return. Of note, the results suggest a positive relation when returns are high and during bear markets. Furthermore, the finding of a positive relation is stronger (i) at the market-level than the firm-level; and (ii) over long time periods. However, the analysis indicates that a negative relation exists at low return levels, during bull markets and, even more so, at the individual firm level. Overall, the results suggest that the risk-return relation is switching in nature and is primarily driven by changing risk preferences. Notably, a positive relation exists when macroeconomic risk plays a larger role
Viagem, Iniciação e Êxtase Material em novelas de J. M. G. Le Clézio
Get PDFThis paper aims to analyze the soap operas “Mondo”, “Lullaby” and “Celui qui n’a jamais vu la mer” presented in J.- M. G. Le Clézio’s collectanea Mondo et autres histoires (1978), from the study of the journey of each of the protagonists, understood as an initiatory journey. In this route, the characters leave the urban life mode and go towards nature where they go through a revealing experience. For the development of this work, we focused on the existing criticism about the author, especially on the works under study. In addition, to study the materiality of nature, it was used the L'Extase Matérielle essay (1967), also by Le Clézio, in which he highlights the examination of the materials around us. To analyze the shamanic initiation transformation experienced by the characters, we used works by the philosopher and religious scholar Mircea Eliade. For the study of culture, especially culture in a postcolonial context, the reflections of the Indo-British critic Homi K. Bhabha were used.O presente trabalho tem o objetivo de analisar as novelas “Mondo”, “Lullaby” e “Celui qui n’a jamais vu la mer” presentes na coletânea Mondo et autres histoires (1978) de J. M. G. Le Clézio, a partir do estudo da jornada de cada um dos protagonistas, entendida como uma jornada iniciática. Nesse percurso, os personagens abandonam o modo de vida urbano e vão em direção à natureza onde passam por uma experiência reveladora. Para o desenvolvimento deste trabalho, enfocou-se na crítica existente sobre o autor, sobretudo sobre as obras em estudo. Além disso, para o estudo da materialidade da natureza, foi utilizado o ensaio L’Extase Matérielle (1967), também de Le Clézio, no qual ele evidencia o exame das matérias que nos rodeiam. Para análise da transformação iniciática xamânica vivida pelos personagens foram usadas obras do filósofo e estudioso das religiões Mircea Eliade. Para o estudo da cultura, sobretudo a cultura num contexto pós-colonial, foram usadas as reflexões do crítico indo-britânico Homi K. Bhabha.CAPES - Coordenação de Aperfeiçoamento de Pessoal de Nível Superio
Dreams from the Past: A Review of California Dreaming: Author: Matthew G. Jones
No full textThis is a review of California Dreaming: Reforming Mathematics Education, by Suzanne M. Wilson. The book describes the efforts to change the mathematical standards for K-12 in California schools, primarily in the 1990s. The reviewer explores the content of the book and describes who might benefit from reading the book
Valdosta Project Change, Scrapbook, December 1998
No full textValdosta Project Change. “Valdosta Project Change Scrapbook, December 1998.” Lowndes County Historical Society. Valdosta State University Archives and Special Collections, MS-181: Valdosta Project Change scrapbook Collection, 1998-2003. 1 PDF document and scans, 41 pages. 840 MB (881,697,568 bytes).12/1- School counselor complains about parents- Yvonne Fournier; 12/2- Williams’ death inquest held today: Public expected to observe ‘utmost decorum’ during inquest of Williams death- Jodi M. Scott; 12/2- Sister denies brother’s jail death was ‘suspicious’: Autopsy shows Williard McFarland died in 1994 of natural causes- Jodi M. Scott; 12/2- Church member doesn’t like using term ‘reverend’- Robert L. Scott, Lake Park ; 12/2- People’s Tribunal calls for economic ‘reciprocity’- Mailbox Post Staff; 12/4- Inquest jurors split on racial lines: Coroner incorrectly reported the verdict of the inquest as unanimous- Jodi M. Scott; 12/4- Coroner’s inquest efforts undermined by mistake- no author; 12/4- Williams speaks out against racism- no author; 12/5- Finding truth remains goal in Williams case- no author; 12/7- ‘Granny’s Place’ offers help for kids- Jodi M. Scott; 12/9- Coroner’s jury returns accidental death- Suzanne Harris; 12/9- Coroner’s inquest did its job- no author; 12/13- Local businesses deal with People’s Tribunal- Lowell Vickers Jr. ; 12/13- Protest group prepares list: Businesses asked for money, support- Lowell Vickers Jr.; 12/15- Tribunal incorporated as nonprofit group: Organization approved for incorporation last month- Jodi M. Scott; 12/16- People’s Tribunal wanting ‘Cooperative Reciprocity’- Suzanne Harris; 12/16- Inquest doesn’t answer all question, dispel all doubts- Charles Moore; 12/17- Evidence in Willie Williams’ death reaches grand jury: District attorney mum on details of testimony- Jodi M. Scott; 12/17- Give us the list- no author; 12/17- Truth is Out- no author; 12/17- Double standard- no author; 12/17- Don’t understand- no author; 12/17- Whites help blacks- no author; 12/18- Civil rights leader praises work of People’s Tribunal- Joe Dunlop; 12/19- Deputy ‘no billed’ in inmate’s death: No evidence found of beatings, abuse- Jodi M. Scott; 12/21- Tribunal letter causes concern: Officials ‘tense’ about group’s plan asking for support- Shelby G. Spires ; 12/23- Examine Procedures Now- no author; 12/30- Sheriff plans no change in arrest procedures- Suzanne Harris
Publisher Correction: Economic evaluation of operative versus nonoperative treatment of a humeral shaft fracture: economic analyses alongside a multicenter prospective cohort study (HUMMER) (European Journal of Trauma and Emergency Surgery, (2022), 10.1007/s00068-022-02160-1)
No full textIn this article, the order that the authors appeared in the author list was incorrect. The correct order is: Saskia H. Van Bergen1 · Esther M. M. Van Lieshout1 · Kiran C. Mahabier1 · Alexandra J. L. M. Geraerds2 · Suzanne Polinder2 · Dennis Den Hartog1 · Michael H. J. Verhofstad1 · on behalf of the HUMMER Investigators
Hundreds of variants clustered in genomic loci and biological pathways affect human height
Get PDFMost common human traits and diseases have a polygenic pattern of inheritance: DNA sequence variants at many genetic loci influence the phenotype. Genome-wide association (GWA) studies have identified more than 600 variants associated with human traits(1), but these typically explain small fractions of phenotypic variation, raising questions about the use of further studies. Here, using 183,727 individuals, we show that hundreds of genetic variants, in at least 180 loci, influence adult height, a highly heritable and classic polygenic trait(2,3). The large number of loci reveals patterns with important implications for genetic studies of common human diseases and traits. First, the 180 loci are not random, but instead are enriched for genes that are connected in biological pathways (P = 0.016) and that underlie skeletal growth defects (P<0.001). Second, the likely causal gene is often located near the most strongly associated variant: in 13 of 21 loci containing a known skeletal growth gene, that gene was closest to the associated variant. Third, at least 19 loci have multiple independently associated variants, suggesting that allelic heterogeneity is a frequent feature of polygenic traits, that comprehensive explorations of already-discovered loci should discover additional variants and that an appreciable fraction of associated loci may have been identified. Fourth, associated variants are enriched for likely functional effects on genes, being over-represented among variants that alter amino-acid structure of proteins and expression levels of nearby genes. Our data explain approximately 10% of the phenotypic variation in height, and we estimate that unidentified common variants of similar effect sizes would increase this figure to approximately 16% of phenotypic variation (approximately 20% of heritable variation). Although additional approaches are needed to dissect the genetic architecture of polygenic human traits fully, our findings indicate that GWA studies can identify large numbers of loci that implicate biologically relevant genes and pathways
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