Please read the abstract in the section 00front of this document / Thesis (D Com (Econometrics))--University of Pretoria, 2007. / Economics / unrestricted

The thesis deals with the optimization of the selected investment portfolio. Solver suggests automated investment model that will use advanced algorithms based on artificial intelligence and principles of technical analysis. Optimization of parameters and verifying the performance of the investment model is realized on historical market data. The result of this thesis is optimized investment model with an emphasis on maximizing profits and stability. The thesis is realized in an environment Python programming language and freely available analytical libraries.

13 | P a g e SUMMARY In South Africa’s rapidly changing social and cultural context, where family dynamics and relationships are changing just as quickly, it is essential to discover which factors contribute to successful relationships that persist over time. Previous research has utilised the Investment Model Scale (Rusbult, 1980) in order to understand commitment processes and the constructs satisfaction, quality of alternatives and investment have been identified as key determinants of commitment in romantic contexts. In the present study however I investigated the primary research question, “How can commitment be measured in the context of family relationships?” Data collection took place through the Family Commitment Scale (which was adapted from the Investment Model Scale) and a new meaningfulness scale was added in an attempt to explore whether meaningfulness would be a better predictor of family commitment than satisfaction, quality of alternatives and investment. The statistical analyses were conducted with the purpose of examining the research question and hypotheses. The findings of the present study contribute to commitment literature by underlining the utility of the Invest Model Scale in nonromantic contexts and providing an instrument which can reliably measure family commitment. Meaningfulness is also highlighted as a motivational feature behind family commitment processes. / Dissertation (MEd)--University of Pretoria, 2013. / gm2014 / Educational Psychology / unrestricted

Today's society is characterized by a high degree of change where the manufacturing systems are affected by both internal and external factors. To adapt to current manufacturing requirements in the form of short lead-time, more variants, low and fluctuating volumes, in a cost-efficient manner, new approaches are needed. As the global market and its uncertainties for products and its lifecycles change, a concept called 'reconfigurable manufacturing system' has been developed. The idea is to design a manufacturing system for rapid structural change in both hardware and software to be responsive to capacity and functionality. A company's development towards the concept is often based on a strategy of incremental investments. In this situation, the challenges are to prioritize the right project and maximize the performance as well as the financial efficiency of a multi-approach problem. The report is based on three different issues. Partly how to standardize relevant performance-based metrics to measure current conditions, how new performance-based metrics can be developed in collaboration with reconfigurability characteristics, and set a direction for how decision models can be used to optimize step-based investments. The study is structured as an explorative study with qualitative methods such as semi-structured interviews and document study to get in-depth knowledge. Related literature addresses concepts in search areas such as reconfigurable manufacturing system, key performance indicators, investment decisions, and manufacturing readiness levels. The findings are extracted from interviews and document studies that generate a focal company setting within the automotive industry, which acts as the foundation for further analysis and decisions throughout the thesis. The analysis results in sixteen performance measurements where new measures been created for product flexibility, productionvolume flexibility, material handling flexibility, reconfiguration quality and diagnosability using reconfigurability characteristics. A conceptual decision support model is introduced with an underlying seven-step investment process, analyzing lifecycle cost, risk triggered events in relation to cost, and performance measurements. The discussion chapter describes how different approaches are used during the project that has been revised by internal and external factors. Improvement possibilities regarding method choice and the aspects of credibility, transferability, dependability, and conformability are discussed. Furthermore, the authors argue about the analysis process and how the result has been affected by circumstances and choices. The study concludes that a three-pronged approach is needed to validate the investment decision in terms of system performance changes, cost, and uncertainty. The report also helps to understand which performance-based metrics are relevant for evaluating manufacturing systems based on operational goals and manufacturing requirements.

Purpose: The purpose of the study is to develop an investment model which can be applied during the design of a manufacturing system, that considers DMS, FMS, and RMS. With the aim of the developed model is to give decision makers monetary basis for the added from changeability. To fulfill the purpose three research questions was created:   What methods in academia are currently used to evaluate changeable manufacturing system investments?  What methods in industry are currently used to evaluate manufacturing system investments? How can an investment model be adapted to incorporate both academia and industry preferences? Method: A single-case-study was conducted within a company that is transitioning into a more reconfigurable manufacturing system. This created an empirical framework for a practical model. In parallel with the case study a literature study was conducted to attain a theoretical framework for the study. The first research question was answered with the literature study. The second research question was answered through the case study, including document studies, interviews, and a focus group, complemented with a literature study. From the theoretical and empirical framework, research question three was answered by developing the investment model following the model creation method suggested by Mitroff et al. (1974).  Implication: The wide adoption of the reconfigurable manufacturing system has yet to be fulfilled in industry, partially hinder by finding economic motivation at the investment evaluation of such a system. The focal company and most other western companies use a net present value to evaluate investments. This approach has been proved inadequate to describe the benefits of a changeable system. Literature suggests that a real option approach could successfully describe the benefits of changeability. However, the approach has been perceived by industry to be too complex. Therefore, a model needed to have enough complexity to comprehend aspect of changeability, while still be simplistic enough gain acceptance from industry. The developed model supplements traditional NPV evaluation with a real options approach, adding scenarios to incorporate uncertainties. The study indicates that it is possible to present the monetary value of added flexibility from changeable manufacturing systems in a simplistic way.

<p>Workplace bullying is a major global issue which has received a lot of recognition because of its negative effects on victims’ health and work productivity. There have been many attempts to mitigate the effects of workplace bullying, leading researchers to extensively study the phenomenon in various contexts and relationships. Information on workplace bullying in the academic context, precisely relationships between academic advisors and graduate student advisees, is however, lacking. This study aimed at filling in the gap by seeking information about communicative behaviors from advisors that graduate advisees characterized as bullying, and common responses graduate advisees resorted to in the face of adversity. We also sought to understand why advisees may have responded to maltreatment in specific ways. We, therefore, proposed a working model which hypothesized a relationship between advisor negative acts, commitment levels of advisees, and advisee responses. Using Amazon’s Mechanical (MTurk) to recruit our sample, participants filled out a survey which included a few demographic questions, the revised version of the Negative Acts Questionnaire (NAQ-R) to measure advisor negative acts, the Exit-Voice-Loyalty-Neglect (EVLN) typology to measure advisee responses, and the Investment Model Scale (IMS) to measure advisee commitment levels to the work relationship with advisors. We verified the reliability and validity of the scales adopted for this study and ran some correlation and mediation analyses to answer our research questions and test our hypotheses. From our findings, we learned that most advisees reported personal insults occurring more frequently in their work relationships with advisors. Advisees also reported a high commitment to the work relationships with their advisors, despite maltreatment, and often responded by adopting the voice or neglect strategy. Findings from this exploratory study imply there is more information to be sought on workplace bullying between advisees and advisors in academic contexts.</p> <br> <p> </p>

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本研究的目的是針對退休金的長期負債以資產負債管理的方式提出有效的投資避險策略建議。在過去，傳統精算的資產負債管理大多採用確定投資模型（Deterministic Model），即以過去的經驗設立「精算假設」，但是這樣的假設無法精確的呈現未來的趨勢，所以本文的第一部份，便是根據過去的台灣總體經濟資料，建構一個退休基金的隨機投資模型（Stochastic Investment Model）。首先，我們以ECM（Error Correlation Model）模式建構出第一個投資模型，之後在精簡參數的考量下，建構第二個以因果關係為基礎的Causality投資模型，再以模型配適能力與預測能力比較兩模型，結果顯示Causality投資模型優於ECM投資模型。 　　有了投資模型，我們設定不同的退休金負債形式，如固定成長型負債MF、隨通貨膨脹成長M^R負債及隨max{固定成長比例，通貨膨脹}而成長的退休金負債M^L，以靜態避險的方式去求得各資產的最適配適比例。從模擬的結果中發現隨著到期日的增長，投資在風險性高報酬率佳的投資標的物上的比例也越來越高。另外，隨著負債固定成長比例f的增加，其M^L負債之期初資產配置額便越接近M^F負債之期初資產配置額。整體而言，我們由模擬中可得出，使用投資組合的投資方式優於單一資產投資的結論。 / In this study, we investigate the hedging strategies for pension liabilities by using Asset-Liability Management method. In the past, the traditional actuarial valuation usually does not take account of market value for both assets and liabilities. Most of the traditional actuarial valuation adopted the Deterministic Model, that is, setting the assumptions based on the experiences. However, it can not exactly show the trend in the future. In part one of this study, we build a stochastic investment model for the pension funds based on Taiwan Market data. First, we apply the first model : ECM( Error Correlation Model ). And then, we apply the second model : Causality Model under considering parsimonious parameterization. Finally, we compare the results of ECM with Causality Model on fitting and forecasting efficiency, and we find that Causality Model is better than ECM. With the investment model, we set some formulas of pension liabilities calculated to obtain the best fit proportion of each valuation by the static hedging. This involves finding optimal static hedging strategies to minimize riskiness of the investment portfolio relative to the liability. Overall, from the simulation results, for static hedging in these kinds of liabilities, investing in all three assets is a better strategy than investing in a single asset class. This confirms that the more assets we use, the more effectively we can hedge.

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