Riskvärdering har under 90-talet blivit ett allt mer medvetet begrepp. Ett populärt instrument vid riskvärdering är Value at Risk då denna modell skapar ett gemensamt riskmått för olika typer av portföljer och derivat. VaR mäter den maximala värdeförändringen för en portfölj där sannolikheten och tidshorisonten är förutbestämd. I uppsatsen har en konfidensnivå på 95 procent antagits vilket medför att de verkliga förlusterna ska överstiga VaR en gång av tjugo. Icke-linjära instrument, såsom optioner, är svåra att riskvärdera då dess pris förändras oproportionerligt gentemot dess underliggande. För att beräkna VaR kan flertalet modeller appliceras och dessa har olika egenskaper. Det är därför av intresse att ta reda på om Delta-Normal metoden, Monte Carlo simulering och Historisk simulering ger samma svar vid riskvärdering av optioner. Vidare syftar denna uppsats till att söka svar på om dessa tre VaR-modeller ger ett tillfredsställande resultat på 95 procentig konfidensnivå. För att få svar på dessa funderingar har vi i empiriavsnittet genomfört två hypotesprövningar. Den första slutsatsen som kan dras av undersökningen är att det inte går att skilja på det VaR som Delta-Normal metoden och Historisk simulering tagit fram. Vid ett hypotestest för proportioner blev resultatet att endast för Monte Carlo simuleringen kunde inte nollhypotesen förkastas. Detta innebär att det finns stöd för att de verkliga förlusterna överstiger Monte Carlo simuleringens beräknade VaR en gång av tjugo.

Value at Risk (VaR) approach has been extensively used by investment and commercial banks since its development by JP Morgan in 1990s. As time passes, it has become interesting to investigate whether VaR could be used also by other financial intermediaries like pension funds and insurance companies. The aim of this paper is to outline Value at Risk (VaR) methodology by giving more emphasis on parametric approach which is used for empirical section and to investigate the applicability and usefulness of VaR in pension funds. After providing theoretical framework for VaR approach, the paper continues with pension fund systems in general and especially highlights AP funds of Swedish National pension fund system by trying to show why VaR could be an invaluable risk management tool for these funds together with other traditional risk measures used. Based on this given theoretical frame, a practical application of VaR –parametric or covariance/variance method- is executed on 50 biggest investments in the fixed income and equity portfolios of three selected Swedish national pension funds – AP1, AP2 and AP3. Results of one day VaR (DEAR) estimations on 30/12/2005 for each fund have been presented and it is aimed to show the additional information that could be obtained by using VaR and which is not always apparent from other risk measures employed by funds. According to the two traditional risk measures which are active risk and Sharpe ratio; AP2 and AP3 lie in the same risk level for 2005 which can create a contradiction by considering their different returns. On the other hand, obtained DEAR estimates show their different risk exposures even with the 50 biggest investments employed. The results give a matching relationship between return of funds and DEAR estimates meaning that; the fund with the highest return has the highest DEAR value and the fund with the lowest return has the lowest DEAR value; which is consistent with the main rule- “higher risk, higher return”. Thus, we can conclude that VaR could be applied additionally to get a better picture about real risk exposures and also to get valuable information on expected possible loss together with other traditional risk measures used. Key words: Value at Risk, DEAR, Pension funds, Risk management, Swedish pension plan, AP1, AP2, AP3

As the number of at-risk students' increases, challenges for teachers, administrators and policymakers increase too, including the need to develop productive programs to help reduce some of the negative outcomes to which at-risk youth are already predisposed. Mentoring programs offer opportunities for at-risk youth to socialize and learn in a safe environment that exposes them to other members of the community. This study explores some of the components that constitute "effective mentoring", with regards to mentoring programs for at-risk youth. It compares two mentoring organizations, Strong Women Strong Girls and The DREAM Program using several of the benchmark criteria for effective mentoring programs set forth by the National Mentoring Partnership. It concludes with recommendations and suggested next steps on the federal, state and local levels toward enhancing current mentoring programs. The findings include, that Strong Women Strong Girls and The DREAM Program meet the majority of the established benchmark criteria. / McAnulty College and Graduate School of Liberal Arts; / Graduate Center for Social and Public Policy / MA; / Thesis;

In this paper the performance of classical approaches and GARCH family models are evaluated and compared in estimation one-step-ahead VaR. The classical VaR methodology includes historical simulation (HS), RiskMetrics, and unconditional approaches. The classical VaR methods, the four univariate and two multivariate GARCH models with the Student’s t and the normal error distributions have been applied to 5 stock indices and 4 portfolios to determine the best VaR method. We used four evaluation tests to assess the quality of VaR forecasts: -                     Violation ratio -                     Kupiec’s test -                     Christoffersen’s test -                     Joint test The results point out that GARCH-based models produce far more accurate forecasts for both individual and portfolio VaR. RiskMetrics gives reliable VaR predictions but it is still substantially inferior to GARCH models. The choice of an optimal GARCH model depends on the individual asset, and the best model can be different based on different empirical data.

There are different types of risk, examples include credit risk, liquidity risk and financial risk. In DeMarzo & Berk (2011, s. 293) is a study presented which is based on the yield of different types of financial assets between 1925 and 2009, the study show that a high risk gave substantially higher reward. With the study as a background, it is interesting to study practical risk management within participants of the financial markets of Sweden. In risk management there are several theories about whether risk can be calculated and analyzed with scientific methods in practice. To generate new empirical data a qualitative method was used in the form of interviews. The selection, which was strategic, was based on mailed questionnaire sent to participants of the Swedish fund market. Theory can be problematic to apply in practice, since reality is often simplified in theory, as discussed by Franklin (2004). Franklin’s thoughts are accompanied by Baird (2010) in a similar discussion. The main model of the study is Value at Risk, which is recovered from Hull (2011) but has its origin from the financial company JP Morgan. Other models that are applied in the study are Capital Asset Pricing Model, CAPM, and the Sharpe ratio. There are known critiques against these models, which are discussed in this study. In the study it is shown that all the participants applied the model Value at Risk. The report also indicates that standard deviation has a central role in risk management. All the respondents were well aware of the critique against Value at Risk. To manage the flaws of the model they also used stress tests as a complement. The analysis of the study indicates that practical and theoretical application in many aspects are similar, the most apparent one being Value at Risk. Even though there are some differences, CAPM was indicated to have no practical use for any of the participants. Two vital factors for whether a model can be applied practically are the model’s simplicity and the need for assumptions to correlate with reality. Having completed this study, the conclusion that the participants successfully applied theoretical risk management models in practice can be validated.

This thesis explores the role of drama in creating transformative schooling practices with at-risk youth. Specifically, through an auto-ethnographic study of my own experiences in the dramatic arts as a student and teacher, I analyze the potential of drama education to disrupt hegemonic performances of gender and sexuality in the classroom. By using feminist and queer theories, I analyze my experiences and then share key insights through narrative writing. My narrative, analysis and findings are organized into three thematic lenses: body as a site of knowing, drama space as a queer space, and drama as a method for creating change. This thesis also offers specific pedagogical, curricular and relational strategies for developing a transformative schooling practice. Finally, the study examines the role of teacher positionality in creating a transformative practice, and the potential of using a queer pedagogy.

Baksidestext Barnmisshandel är ett omfattande folkhälsoproblem med långsiktiga negativa konsekvenser för den enskilda individen och för samhället i stort. Förebyggande insatser kan vara livsavgörande för de utsatta barnen. Denna avhandlings övergripande syfte var att öka kunskapen om barn som riskerar att fara illa i sin hemmiljö samt att identifiera utmaningar i ett förebyggande perspektiv. Två områden har studerats: (1) Våld mot barn med långvarig sjukdom/funktionsnedsättning (2) Förskolan som upptäckande och stödjande arena Gemensamt för inriktningarna är att barn med långvarig sjukdom/funktionsnedsättning och barn i förskoleåldern utgör särskilt sårbara grupper, som löper ökad risk att fara illa i sin hemmiljö. De har också unik kontakt med professionella med möjlighet att upptäcka och agera vid oro. Avhandlingen bygger på fyra delstudier; en nationell kartläggning riktad till skolelever, en intervjustudie med föräldrar samt två förskolestudier. Resultaten från studierna diskuteras utifrån identifierade utmaningar i ett förebyggande perspektiv. Utmaningarna inkluderar emotionella hinder samt behov av ett mer nyanserat och proaktivt förhållningssätt för att kunna utveckla tidiga insatser till barn och föräldrar. / The aim with this thesis was to increase the knowledge about children at risk of maltreatment and to identify challenges in a preventive perspective. Two areas have been studied; Physical abuse of children with chronic conditions/disabilities and Detection and support within the pre-school environment.  Four data sets were used: a national survey of school children (I), an in-depth interview study with parents (II) and two pre-school studies (III, IV). I-II: Chronic conditions in children increase the risk for physical abuse, but vary with socio-economic circumstances. The highest risk for physical abuse was found among children with chronic conditions born outside Sweden. The subsequent study revealed direct risk factors related to parent and child (emotional demands in precarious situations), and indirect risk factors related to parent and professional (gradual shift in responsibility and emotionally closed environment) and social norms (taboo on talking about abuse). III-IV: Preschool staff suspected child maltreatment for two percent of the preschool children. In less than half of the cases, the parents were informed and a report to social services was made in a third of the cases. The most common reason for not making a report was that the staff believed that the pre-school had sufficient resources to help the child. In the subsequent study, preschool teachers’ concerns about the child’s home environment were explored in a broader perspective over a one year period. The study showed that concern for the children’s home situation related to increased concern for several aspects of children’s health and development, increased need of special support in preschool, insufficient contact with parents, and lower parental socioeconomic status. The results are discussed according to identified challenges in a preventive perspective. These include emotional obstacles for prevention and a need for a more nuanced and proactive professional approach to enable early support to children at risk of maltreatment and their parents.

This study examines factors that influence the language use of preschool children in a child/parent education program. The Preschool for Child/Parent Education Project was initiated to address concerns for at risk children and their families in the community of Nipawin, Saskatchewan. The families invited to participate in the program were identified as having preschool children who were potentially at risk for school success.<p> The language experiences of four preschool children were observed as they participated in one nine-week child/parent education session. The parents, caregivers and preschool teacher were interviewed regarding their views about the language experiences of the children.<p> The factors that emerged as having an influence on the children's use of language in the preschool program were: play center activities, direct instruction, authentic experiences, parent/caregiver involvement and teacher efficacy. Results showed that the children in the Preschool for Child/Parent Education Project experienced a program that understood the language needs of young children and the powerful influence of a supportive family.<p> Implications are drawn concerning the benefits of providing opportunities for language development and use during the crucial preschool years in a child/parent education program. Recommendations for further research suggest recognition of the effects of early language intervention on young children with difficult life circumstances.

Recently Ontario included critical literacy in the Language Arts curriculum. I plan to investigate what impact critical literacy will have on Canadian schools. I will present ideas in a critical narrative framework; drawing on pre-existing data-sets of experiences I gathered teaching in an urban Ontario school board for the last six years. I will also review research by other academics working in critical literacy, student engagement, and democratic education. I plan to investigate the effectiveness of using critical literacy-based activities with students deemed “at risk” in our school system. I will also explore the impact of critical literacy on the relationships between students, teachers and administrators. I believe this process will allow me to reflect, interpret and explore my experiences, as well as encourage others to draw their own opinions about the impact of teaching critical literacy in Ontario schools.

Recently Ontario included critical literacy in the Language Arts curriculum. I plan to investigate what impact critical literacy will have on Canadian schools. I will present ideas in a critical narrative framework; drawing on pre-existing data-sets of experiences I gathered teaching in an urban Ontario school board for the last six years. I will also review research by other academics working in critical literacy, student engagement, and democratic education. I plan to investigate the effectiveness of using critical literacy-based activities with students deemed “at risk” in our school system. I will also explore the impact of critical literacy on the relationships between students, teachers and administrators. I believe this process will allow me to reflect, interpret and explore my experiences, as well as encourage others to draw their own opinions about the impact of teaching critical literacy in Ontario schools.