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Economic and financial indexesWhite, Alan G. 11 1900 (has links)
This thesis examines the theoretical underpinnings and practical construction of select economic
and financial indexes. Such indexes are used for a variety of purposes, including the
measurement of inflation, portfolio return performance, and firm productivity.
Chapter 1 motivates interest in economic and financial indexes and introduces the principal
ideas in the thesis.
Chapter 2 focuses on one potential source of bias in the Canadian consumer price index
(CPI) that arises from the emergence of large discount/warehouse stores—the so-called outlet
substitution bias. Such outlets have gained market share in Canada in recent years, but
current CPI procedures fail to capture the declines in average prices that consumers enjoy
when they switch to such outlets. Unrepresentative sampling, and the fact that discount
stores often deliver lower rates of price increase can further bias the CPI. Bias estimates
for some elementary indexes are computed using data from Statistics Canada's CPI production
files for the province of Ontario. It is shown that the effect on the Canadian CPI of
inappropriately accounting for such discount outlets can be substantial.
Another area in which indexes are frequently used is the stock market. Several stock
market indexes exist, including those produced by Dow Jones and Company, Standard and
Poor's Corporation, Frank Russell and Company, among others. These indexes differ in two
fundamental respects: their composition and their method of computation—with important
implications for their usage and interpretation. Chapter 3 introduces the concept of a stock
index by asking what, in fact a stock market index is—this is tantamount to considering the
purpose for which the index is intended, since stock indexes should be constructed according
to their usage. Because stock indexes are most commonly used as measures of returns on
portfolios, the main considerations in constructing such return indexes are examined.
Chapter 4 uses the Dow Jones Industrial Average (DJIA) as a case study to examine
its properties as a return index. It is shown that the DJIA is not the return on a market
portfolio consisting of its thirty component stocks: in fact the DJIA measures the return
performance on a very particular (and unusual) investment strategy, a fact that is not well
understood by institutional investors. An examination of some other popular stock indexes
shows that they all differ in their computational formula and that each is consistent with a
particular investment strategy. Numerical calculations reveal that the return performance of
the DJIA can vary considerably with the choice of basic index number formula, particularly
over shorter time horizons.
Given the numerous ways of constructing stock market return indexes, the user is left to
determine which is 'best' in some sense. The choice of an appropriate (or 'best') formula for
a stock market index is formally addressed in chapter 5. The test or axiomatic approach to
standard bilateral index number theory as in Eichhorn & Voeller (1983), Diewert (1993a),
and Balk (1995) is adapted here. A number of a priori desirable properties (or axioms) are
proposed for a stock index whose purpose is to measure the gross return on a portfolio of
stocks. It is shown that satisfaction of a certain subset of axioms implies a definite functional
form for a stock market return index.
Chapter 6 evaluates the various stock indexes is use today in terms of their usefulness
as measures of gross returns on portfolios. To this end the axioms developed in chapter 5
are used to provide a common evaluative framework, in the sense that some of the indexes
satisfy certain axioms while others do not. It is shown that the shortcomings of the DJIA as
a measure of return arise from its failure to satisfy a number of the basic axioms proposed.
Notwithstanding this, each index corresponds to a different investment strategy. Thus, when
choosing an index for benchmarking purposes an investor should select one which closely
matches his/her investment strategy—a choice that cannot be made by appealing to axioms
alone. / Arts, Faculty of / Vancouver School of Economics / Graduate
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Ethical investing - why not? : An evaluation of financial performance of ethical indexes in comparison to conventional indexesMironova, Anastasia, Kynäs, Lovisa January 2012 (has links)
Problem: Do ethical investments perform better than conventional investments? Purpose: To evaluate whether Shariah-compliant indexes and/or socially responsible indexes can improve financial performance of an investment portfolio. Sub-problem: What kind of relationship exists between socially responsible investments and faith-based investments, represented by Shariah-compliant investments? Sub-purpose: To discover how two types of ethical investments, socially-responsible and Shariah-compliant, are related. Method: Quantitative study, covering three types of investment styles of four index families during the period from 2000 until 2011. Financial performance evaluation through the Sharpe ratio, Treynor ratio and Jensen’s alpha. Conclusions: Conventional, socially responsible, and Shariah-compliant indexes do not have any significant differences in financial performance on a global basis. However, Shariah-compliant indexes could slightly over-perform conventional and socially responsible indexes during financial downturns. In the same time socially responsible indexes were noticed to be the most volatile during the whole period of study, to compare with conventional and Shariah-compliant. Regarding relationships, high correlations were found between ethical indexes, as well as between ethical and conventional indexes.
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Hodnocení finanční situace podniku / The Evaluation of the Financial Situation’s CompanyBělavová, Petra January 2009 (has links)
The diploma thesis is focused on estimation of financial standing of the company Lesostavby Frýdek-Místek, a. s. in the years 2003-2007. The financial standing is estimated by the methods of financial analysis. The key role is played by so-called elementary methods, mainly by absolute, difference, ratio indexes as well as site and bankruptcy models. Based on the situation assessed by the methods the scheme of improvement has been created for several following years.
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Catalytic degradation of waste polymersGornall, Tina January 2011 (has links)
Plastics have become an integral part of our lives. However, the disposal of plastic waste poses an enormous problem to society. An ideal solution would be to break down a polymer into its monomer, which could then be used as the building-blocks to recreate the polymer. Unfortunately, the majority of plastics do not degrade readily into their monomer units. Thermal degradation of polymers usually follows a radical mechanism (which is of high energy and requires high temperatures) and produces a large proportion of straight chain alkanes, which have low relative octane number (RON) and so cannot be used in internal combustion engines. However, a suitable catalyst can help to branch straight alkane chains and so give high RON fuels that can be blended into commercial fuels. An extensive thermogravimetric study of polymer-catalyst mixtures was undertaken and produced dramatic reductions in the onset temperature of degradation and significant changes in the activation energy, suggesting a change to a desirable Brønsted- or Lewis-acid catalysed degradation mechanism in many cases. For example, GC-MS analysis of low-density polyethylene (LDPE) degraded with Fulcat 435 clay showed the polymer forming a large number of C6-C7 single-branched alkanes of intermediate RON value. In comparison, degradation of LDPE in the presence of a ZSM-5 zeolite (280z) resulted in the production of a large aromatic content (41% of Total Mass at 450ºC) together with branched C6-C8 hydrocarbons (40%). This formation of a large proportion of high RON components from polyethylene and other polymers could move us one step closer to tackling the enormous problem of plastic waste disposal that the world faces today.
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Implementation, use and analysis of open source learning management system 'Moodle' and e-learning for the deaf in JordanKhwaldeh, Sufian M. I. A. January 2011 (has links)
When learning mathematics, deaf children of primary school age experience difficulties due to their disability. In Jordan, little research has been undertaken to understand the problems facing deaf children and their teachers. Frequently, children are educated in special schools for the deaf; the majority of deaf children tend not to be integrated into mainstream education although efforts are made to incorporate them into the system. Teachers in the main stream education system rarely have knowledge and experience to enable deaf students to reach their full potential. The methodological approach used in this research is a mixed one consisting of action research and Human Computer interaction (HCI) research. The target group was deaf children aged nine years (at the third grade) and their teachers in Jordanian schools. Mathematics was chosen as the main focus of this study because it is a universal subject with its own concepts and rules and at this level the teachers in the school have sufficient knowledge and experience to teach mathematics topics competently. In order to obtain a better understanding of the problems faced by teachers and the deaf children in learning mathematics, semi-structured interviews were undertaken and questionnaires distributed to teachers. The main aim at that stage of research was to explore the current use and status of the e-learning environment and LMS within the Jordanian schools for the deaf in Jordan. In later stages of this research, semi-structured interviews and questionnaires were used again to ascertain the effectiveness, usability and readiness of the adopted e-learning environment “Moodle. Finally pre-tests and post-tests used to assess the effectiveness of the e-learning environment and LMS. It is important to note that it was not intended to work with the children directly but were used as test subjects. Based on the requirements and recommendations of the teachers of the deaf, a key requirements scheme was developed. Four open source e-learning environments and LMS evaluated against the developed key requirements. The evaluation was based on a software engineering approache. The outcome of that evaluation was the adoption of an open source e-learning environment and LMS called “Moodle”. Moodle was presented to the teachers for the purpose of testing it. It was found it is the most suitable e-learning environment and LMS to be adapted for use by deaf children in Jordan based on the teachers requirements. Then Moodle was presented to the deaf children’s to use during this research. After use, the activities of the deaf and their teachers were used and analysed in terms of Human Computer Interaction (HCI) analysis. The analysis includes the readiness, usability, user satisfaction, ease of use, learnability, outcome/future use, content, collaboration & communication tools and functionality.
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Το περιοδικό "Διακείμενα" : Παρουσίαση και ευρετηρίαση του εντύπουΠανοπούλου, Διαμάντω 06 December 2013 (has links)
Η παρούσα εργασία έχει στόχο να καταγράψει αναλυτικά τα περιεχόμενα, τους συνεργάτες και τα αναφερόμενα πρόσωπα του περιοδικού Δια- κείμενα, από το πρώτο (1) έως και το δέκατο τρίτο (13) τεύχος του. Η καταγραφή ακολουθεί την αλφαβητική σειρά, ενώ γίνεται διαχωρισμός σε ελληνικά και ξένα ονόματα. Παράλληλα, παρουσιάζονται λεπτομερώς τα περιεχόμενα κάθε τεύχους χωριστά, ώστε να αναδειχθεί πληρέστερα ο χαρακτήρας, η δομή και το ύφος του περιοδικού. Ακολουθεί η καταγραφή των περιεχομένων της σειράς Διακειμενικά, η οποία κυκλοφορεί παράλληλα με το περιοδικό. Τέλος, η εργασία περιλαμβάνει την κριτική αποτίμηση του εντύπου και σχόλια- σκέψεις για τη συμβολή του στον τομέα της Συγκριτικής Γραμματολογίας στη χώρα μας. / -
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A Statistical Oak Chronology from the North of IrelandPilcher, J. R. January 1976 (has links)
No description available.
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Discovery of acoustic emission based biomarker for quantitative assessment of knee joint ageing and degenerationChen, Hongzhi January 2011 (has links)
Based on the study of 34 healthy and 19 osteoarthritic knees in three different age groups (early, middle and late adulthood), this thesis reports the discovery of the potential of knee acoustic emission (AE) as a biomarker for quantitative assessment of joint ageing and degeneration. Signal processing and statistical analysis were conducted on the joint angle signals acquired using electronic goniometers attached to the lateral side of the legs during repeated sit- stand-sit movements. A four-phase movement model derived from joint angle measurement is proposed for statistical analysis, and it consists of the ascending- acceleration and ascending-deceleration phases in the sit-to- stand movement, followed by the descending-acceleration and descending-deceleration phases in the stand-to-sit movement. Through the quantitative assessment of joint angle signals based on the four-phase model established, statistical differences of different knee conditions related to age and degeneration were discovered based on cycle-by- cycle variations and movement symmetry. For AE burst signals acquired from piezo-electric sensors attached to the knee joints during repeated sit-stand-sit movements, the statistical analysis started from the quantity of AE events in the proposed four movement phases and extended to waveform features extracted from AE signals. While the quantity of AE events was found to follow certain statistical trends related to age and degeneration in each movement phase, detail statistical analysis of AE waveform features yielded the peak amplitude value and average signal level of each AE burst as two most significant features. An image based knee AE feature profile is presented based on 2D colour histograms formed by the peak amplitude value and average signal level in four movement phases. It provides not only a visual trend related to knee age and degeneration, but also enables visual assessment of the
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Using computers to develop phonemic awareness in the early primary classroomSnape, Linda C. January 2011 (has links)
The aim of this project is to determine whether a computer application can be used to develop phonemic awareness in the early primary classroom, which is a key component of phonics. This thesis explores the evolution of the strategy for teaching literacy in the UK which shows phonics to be a key component of that strategy. However, government reports which inform the direction of the literacy strategy call for more empirical study in all areas of literacy teaching; this thesis documents such an empirical study. This research project creates a phonics based computer application designed specifically for young children aged 5 to 6 years (year 1 in UK primary schools). The timing and level of content presented by the computer application activities are grounded in appropriate academic theory. A significant component of the work is the development of interface design guidelines for children’s applications. These guidelines are then used to inform the development of the phonics-based computer application. A Randomised Controlled Trial (RCT) is designed to determine the application’s effectiveness in developing the phonemic awareness skills of young children in a classroom setting. In order to control experimental bias resulting from problems with the usability of the computer interface, the usability of the application’s interface is evaluated in the classroom by year 1 children before the application is used in a pragmatic RCT. The results of the final usability evaluation found no usability issues and the application was wholly intuitive to the children in the evaluation groups. The results from the RCT (N=266) show no statistically significant improvement in the learning rate of phonemic awareness by the intervention group using the computer program compared to the traditional teacher-delivered paper-based method used with the control group, even though the computer program was designed carefully for this age range. The results did suggest however, that the intervention group developed at the same rate as the control group which implies that the computer program could be used to support teachers by reducing the amount of resource-intensive phonics tuition required by children in this age range.
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Lithic scatters and landscape : the Mesolithic, Neolithic and Early Bronze Age inhabitation of the lower Exe valley, DevonBayer, Olaf J. January 2011 (has links)
This thesis examines the inhabitation of the lower Exe valley, between the Mesolithic and the Early Bronze Age through the evidence of a series of surface lithic scatters. Research draws on recent confident approaches to surface lithic scatters which view them as key data for understanding the inhabitation of prehistoric landscapes. Theoretically it draws on the dwelling perspective and proposes that both the contents of lithic scatters (the stone tools and debitage of which they are composed), and their contexts (the locations in which they are found) are inseparable parts of the same whole, and are implicated in the processes through which prehistoric populations came to understood and create their worlds. Research focuses on a small study area centred on the lower Exe valley, Devon. It is one of the most significant prehistoric landscapes in lowland southwest Britain and includes a large surface lithic collection spanning the Mesolithic to the Early Bronze Age. It also contains evidence for a number of contemporary monuments. Several methodologies are applied to the contents and contexts of the study area’s lithic assemblages. Methodologies utilised include lithic analysis, landscape phenomenology, LIDAR and vertical aerial photography, extensive geophysical survey and targeted excavation. Four themes are explored in relation to the study area’s archaeological record: • The character and composition of inhabitation • The temporality of inhabitation • Biographies of place • Scales of mobility and contact Results indicate the valley floor and its immediate western edge as a particular focus of activity during all periods. Against the background of increasing intensity and extent of inhabitation between the Mesolithic and Early Bronze Age, the repeated occupation of persistent places is noted. Repeated occupation of these locales is seen as key to the development of biographies of place which in turn act as anchors for subsequent acts of inhabitation and monument building. This thesis combines the analysis and interpretation of previously unpublished surface lithic assemblages, with the results of new archaeological fieldwork. At a regional level it has enhanced understanding of the prehistory of lowland Devon. In a wider context it offers a new theoretical and methodological approach to studying surface lithic scatters, and contributes to on going debates in landscape archaeology.
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