acase@tulane.edu

acase@tulane.edu

This dissertation analyzes the cross-sectional variation in monthly average stock returns explained by the behavior of fundamental variables such as earnings to price ratio (E/P), book-to-market equity ratio (B/M), and size of market equity series (ME) in the Mexican stock market The Seemingly Unrelated Regression (SUR) model, using methodology similar to that of Chan, Hamao, and Lakonishok (1991), is used first to test the significance of the fundamental variables at the portfolio level, adjusting at the same time for portfolio risk where the betas are estimated simultaneously with the impact of fundamental variables. I find that E/P is the most statistically significant and economically important of the fundamental variables with a positive impact on expected stock returns for the 1989 to 2001 period. The size of the market equity series has a negative risk premium, but size is not significant after the adjustment in the level of prices in the fundamental variables for the 1989 to 2001 period. The B/M variable turns out to be highly dependent of the model and portfolio formation for the significance. The risk premium of B/M changes from positive to negative and several times is not significant for the 1989 to 2001 period The January effect versus the other months in relation to the fundamental variables and stock returns is also analyzed using SUR. I find that E/P is also the fundamental variable that has the largest average risk premium and significant, with a positive relation between expected returns and E/P Finally, a portfolio formation process similar to that of Fama-French (1992), using size-beta portfolios, is applied to study the relationship between fundamental variables, beta and the stock returns using SUR. Beta is previously computed with the monthly value-weighted index obtained from the sample. The sum beta is used for nonsynchronous trading. I find that average stock returns are positively related to market beta, but E/P is additional priced with a positive risk premium in that model with beta and the fundamental variables. E/P and beta are the only variables that are statistically significant for the period of 1989 to 2001 / acase@tulane.edu

acase@tulane.edu

acase@tulane.edu

acase@tulane.edu

acase@tulane.edu

acase@tulane.edu

Although historic documents indicate extensive interaction between French and Native Americans at initial contact, little is known about French influence on native groups, native influence on the French colonists, or about the nature of their relations in general. One means of investigating these questions is through examination of settlement patterning and evidence of acculturation as indicated by items of material culture recovered through archaeological investigations in southwestern Alabama. where the earliest sustained contact took place. In 1702 the town of Mobile was constructed and settled by the French to serve as the heart of their Louisiana colony. The study of this original French settlement and other French period sites in the surrounding area has provided an ideal situation for investigating French-Indian contact. Specifically. this research explores how the French presence affected aboriginal settlement and examines ceramic function and style as an indicator of acculturation A model about the nature of congregated minority groups in contact situations is developed through the investigation of archaeological and historical data for this region of earliest sustained contact on the Gulf Coast. In addition, it is suggested that while cultural exchange was affecting French and Native Americans in many respects. their structures remain distinct and can be determined archaeologically by considering factors such as structure location, size, building techniques, length of occupation, and proportions of artifact classes. This investigation provides new and valuable information concerning the effect of initial French colonization on aboriginal settlement patterning and acculturation in the Gulf region / acase@tulane.edu

acase@tulane.edu