Note:p. 43 missing.

No description available.

No description available.

No description available.

The study is primarily concerned with the verification, and subsequent explanation, of the existence of the phenomenon of new issue underpricing. The primary purposes of the research conducted in this study were to: (1) determine if investors may earn excess returns on new issues by purchasing at the prevailing market price in the immediate after-market rather than at the offer price, (2) develop a simultaneous equation model to explain underpricing, percentage cash spread, and the relationship between the two using various firm, issue, and market characteristics, and ( 3) analyze the effects of institutional constraints concerning percentage cash spread on the relationship between underpricing and percentage cash spread. The examination of excess returns indicates that efficiency prevails in the new issues market beginning with the second trading day. Therefore, investors purchasing new issues in the immediate after-market may expect to not earn excess returns. The results of the estimation of the econometric model using the entire sample of new issues does not indicate a simultaneous relationship between underpricing and cash spread. However, in order to analyze the effects of the institutional constraint on percentage cash spread, it is hypothesized that the most severely underpriced issues are most seriously affected by constraint. The sample is divided into quartiles on the basis of magnitude of underpricing and the econometric model is estimated separately for each quartile. The upper quartile exhibits a recursive relationship suggesting that percentage cash spread is first set and underpricing is adjusted accordingly to lessen risk of distribution and thereby compensate for the lower level of percentage cash spread. A simultaneous relationship does occur in the middle quartiles, but the relationship is positive indicating that higher percentage cash spread offerings also experienced greater underpricing. These results furnish evidence that new issues are affected by institutional constraints on percentage cash spread and the guidelines could be the cause of a portion of the underpricing occurring in the new issues market. / Ph. D.

An empirical study of the effects of differential information and the expectations of investors is undertaken to test the differential information theory of Barry and Brown (1983). The theory is tested using the small firm effect. The excess returns found using ex post data are regressed against proxies for differential information and expectations. The residuals from these regressions are then tested to determine if the small firm effect is still observed. The results of this study are: 1. The tests provided empirical evidence that is consistent with the theory of Barry and Brown (1983) when a suitable proxy for differential information is used. 2. For the sample studied, the differential information effect on perceived risk by investors largely explained the small firm effect, when a suitable proxy was used. 3. Evidence was found that the small firm effect is composed of two parts supporting the findings of Keim (1983). One is a January effect, and the other during the remainder of the year, with the January effect still observed. 4. The proxy chosen to represent heterogeneous expectations must be selected with care. In this study the one selected did not prove suitable. Reasons are provided which indicate that the proxy chosen was the principal cause of the failure of these tests to support the theory. / Ph. D.

Two approaches to smoking cessation were evaluated. One approach, the standard condition, utilized a nicotine fading procedure, group support, and an attendance contingent monetary contract. The other approach, the maintenance condition, utilized nicotine fading, group support, and a smoking-contingent monetary contract. The maintenance condition also received two additional post-cessation sessions and additional instructions for cessation. Both conditions significantly improved over the course of the study. The maintenance condition achieved significantly better outcome on the reported average cigarettes per day, cessation rates, and CO levels for the follow-up periods. The maintenance condition also had significantly lower SCN levels at the three month follow-up. The maintenance condition also had significantly lower diastolic and systolic blood pressure at the six month follow-up when compared to the standard condition. However, few other significant health differences emerged when smoking subjects were compared with reduced smoking or nonsmoking subjects for this study. The maintenance condition was shown to be more cost effective than the standard condition. The results were interpreted as indicating the promise of nicotine fading and behavioral contracting procedures. Limitations of the wide-scale application of these methods was noted, however. In particular, group smoking cessation projects reach limited subjects, successful projects still have only moderate success rates, and the wide-spread application of these methods would strain available resources. It is recommended that further research and clinical efforts continue with nicotine fading, behavioral contracting and rapid smoking cessation programs. In addition, efforts at applying behavioral contracting principles without therapeutic support was suggested. Finally, more research on the functional determinants of tobacco smoking was recommended. / Ph. D.

This thesis examines the multiple factors which have influenced costume design in film history by observing the various representations of the historical figure Cleopatra in motion pictures. Beginning with a brief history of the changing role of the costume designer in film, and a brief history of both the historical and legendary Cleopatra, this paper then analyzes the factors that have influenced costume design in four specific films about Cleopatra: Cleopatra (1917), Cleopatra (1934), Caesar and Cleopatra (1946) and Cleopatra (1963). Criteria for examination of costume design in these films includes previous precedents and contemporary screen conventions, the background and style of both the director and costume designer, the ramifications of the Motion Picture Association Code, studio influence and trends of contemporary fashion. Transcribed drawings of the various costumes which appear in the aforementioned films of Cleopatra, and still photographs from these films are included to supplement written observations. / Master of Fine Arts

Ed. D.

This study presents some analysis concepts and decision tools for the problems encountered in designing and implementing a flexible manufacturing system. SIM-Q, an input-generator for simulation modelling developed in this study provides a powerful and expedient tool for resolving the material handling system selection, work scheduling, input control, and real time operation problems. The problem of input control is examined using SIM-Q and the viability of operating a flexible manufacturing system as a programmable transfer line is explored. SIM-Q is also used in this study to test the robustness of CAN-Q in modelling an existing FMS. A linear zero-one linear programming model is formulated for the machine mapping and pooling problem. The system synthesis problem is solved by applying CAN-Q in an interactive computer program developed in this study. This model provides an integrated approach to the product selection and machine requirements planning problems. Finally, a dynamic decision approach to the justification of the FMS is developed and presented by imbedding queueing theory with simulation in a decision analysis framework. / Ph. D.