This dissertation is a comprehensive study of convertible-preferred-stock pricing and performance following issuance. It is the first major academic study that identifies significant abnormal performance of corporate contingent claims following issuance. The research utilizes both option-based contingent claims valuation models and econometric techniques to investigate the sources of superior investment performance of convertible securities as an asset class that has persisted for the past thirty years. Two main issues are examined: potential underpricing of convertible preferred stocks at issuance and their subsequent investment performance. Underpricing is examined based on a robust contingent-claims valuation model. Using two samples of convertible preferred stock offerings (24 issues, 12,051 observations and 69 issues, 28,831 observations respectively), the study provides evidence of statistically and economically significant underpricing at issuance that ranges from 2.9% to 1.4% and persists from the first day of convertible trading up to six months following issuance. Underpricing is invariant to convertible ratings and the exchange where the issues are traded. It is found, however, that, large and mid cap issues are more likely to be underpriced than small cap convertibles. Also, the offerings that are underwritten by non-reputable investment bankers are more likely to be underpriced than those underwritten by reputable investment bankers.

早期壽險業危險分類的結果，僅區分標準體、次標準體以及拒保體，直到1970年代，美國一家壽險公司為了尋找市場利基，開始針對非吸煙保戶給予優惠費率，從此打開市場，創造競爭優勢；這是壽險公司實施優良體保險的開始。 優良體保險的實施，完全符合公平危險對價的理念，對壽險經營產生正面的意義為：一、因有優惠費率的誘因，可吸引更多的健康者購買保險。二、鼓勵壽險公司更專精於死亡率資料的收集分析及死亡原因的探索，藉以促進危險選擇技術的進步。三、壽險公司擴大承保範圍以增加業務量。 國內傳統壽險保單發展已到了成熟階段，如果壽險業者尋求創新和升級的機會，發展優良體保險，讓保費真正反映風險，這樣的精緻保單，或可爭取保戶認同，贏得商機。 參佐國外的經驗，本研究觀察優良體保險應為未來核保及商品發展的趨勢，乃透由文獻資料分析及深度訪談方式，據以了解優良體保險實務運作的概況、國內壽險業實施優良體保險可能面臨的問題與解決之道，以及經營優良體保險之決策程序及行動方案，作為國內業者未來導入優良體保險的參考。 關鍵字：優良體、優良體保險、核保、危險分類。 / In early times, life insurance business classified risk into standard risk, substandard risk, and declined risk only. In 1970s, one life insurance company of the United States began to sell discounted-premium insurance to non-smoking customers who were classified into standard risk class. This innovation opened the preferred risk market and created its own competitive advantages in the insurance market. The era of preferred risk started then. The practices of Preferred Risk Class Insurance have three positive effects on the market: 1. More healthy people will be led to purchase the insurance policies due to the preferential insurance premium. 2. Life insurance companies will put more efforts on collecting and analyzing the death rate and cause, which will promote the development of risk selection practice. 3. Life insurance companies will have more chance to sell high-coverage policies and increase the sales volume. Traditional life insurance policies have gone full-grown nowadays. When life insurance company is willing to innovate and upgrade to develop the preferred risk class insurance policies, this finely insurance policy can attract more customers as long as the premium can reflect the actual risk. Based on the reports of foreign insurance companies, I believe that preferred risk class will be an innovating risk class of life insurance, and will be the product development in the future. This thesis talks about the disputes, solutions, and decision-making processes of the practice of preferred risk insurance. The content can serve as a reference to the insurance industry in Taiwan. Key words: Preferred Risk, Preferred Risk Policy, Underwriting, Risk Classification.

Thesis (D.P.H.)--University of Michigan.

Thesis (D.P.H.)--University of Michigan.

Thesis advisor: Seth C. Kruckenberg / The West Antarctic rift system is one of the most expansive regions of extended continental crust on Earth, but relatively little is known about the structure of the mantle lithosphere in this region. This research aims to examine a suite of ultramafic mantle xenoliths from several volcanic centers located throughout Marie Byrd Land, West Antarctica. Through the use of several complementary analytical methods, the deformational and compositional heterogeneity of the lithospheric mantle in this region is characterized. The Marie Byrd Land xenoliths have equilibration temperatures between 779 and 1198°C, which is a range that corresponds to extraction depths between 39 and 72 km. These samples preserve significant mineralogical and microstructural heterogeneities that document both lateral and vertical heterogeneities within the Marie Byrd Land mantle lithosphere. The modal mineralogy of spinel peridotites varies between 40 – 99% olivine, 0 – 42% diopside, 0 – 45% enstatite and 0 – 5% chromite. Minimum olivine grain sizes range from 60 to 110 µm and maximum olivine grain sizes range from 2.5 to 10.0 mm. The geometric mean grain size of olivine in these samples ranges from 100 µm to 2 mm and has an average of 694 µm. The geometric mean grain size of diopside ranges from 90 to 865 µm and has an average of 325 µm, whereas that of enstatite ranges from 120 µm to 1.2 mm and has an average of 625 µm. Comparatively, the pyroxenites contain 0 – 29% olivine, 29 – 95% diopside, 1 – 36% enstatite and 1 – 11% chromite. Deformation mechanism maps suggest that the olivine within the MBL peridotite xenoliths primarily accommodate strain through the operation of dislocation-accommodated grain-boundary sliding at strain rates between 10-19/s and 10-11/s. This is consistent with microstructural observations of the suite made using optical microscopy (e.g., deformation bands and subgrains in olivine; aligned grain boundaries between contrasting phases). Application of the olivine grain size piezometer indicates that the suite preserves differential stresses ranging from 0.5 MPa to 50 MPa, with mean differential stresses ranging from 4 to 30 MPa. Values of mean differential stress only vary slightly throughout the field area, but generally decrease in magnitude towards the east with maximum values migrating upwards in the lithospheric mantle along this transect. The samples from some volcanic centers are highly homogenous with respect to their microstructural characteristics (e.g., Mount Avers – Bird Bluff), whereas others display heterogeneities on the sub-five-kilometer-scale (e.g., Demas Bluff). Comparatively, mineralogical heterogeneities are more consistent throughout the sample suite with variations generally being observed between the sub-five-kilometer-scale and the sub-ten-kilometer-scale. Most samples within the MBL peridotite suite display axial-[010] or A-type olivine textures. Although less dominant, axial-[100], B-type and random olivine textures are also documented within the suite. Axial-[010] textures have J-indices and M-indices ranging from 1.7 – 4.1 and 0.08 – 0.21, respectively. The average value of the J-index for axial-[010] textures is 2.9, whereas the average M-index of these samples is equal to 0.15. Overall, A-type textures tend to be stronger with J- and M-indices ranging from 1.4 – 9.0 and 0.07 – 0.37, respectively. The olivine crystallographic textures of the MBL xenolith suite are heterogeneous on scales that are smaller than the highest resolution that is attainable using contemporary geophysical methods, which implies that patterns of mantle flow and deformation are far more complex than these studies suggest. / Thesis (MS) — Boston College, 2016. / Submitted to: Boston College. Graduate School of Arts and Sciences. / Discipline: Earth and Environmental Sciences.

The problem of this study was to ascertain the effectiveness of two techniques for encouraging teachers to use sociometric data to effect change in the sociometric status of the least-preferred children in their classrooms.

Jednou z možných odpovědí na vzrůstající kapitálové požadavky může být použití hybridního kapitálu. Hybridy jsou sofistikované a důmyslně strukturované instrumenty, které kombinují základní vlastnosti dluhu i equity. Kvalifikují se jako regulatorní TIER 1 kapitál a zároveň umožňují daňovou odečitatelnost dividendových plateb. Kvůli rostoucímu využívání hybridních instrumentů bankovní regulátoři sestavili řadu kritérií, která musí hybridní kapitál splňovat. Nejčastěji je posuzována jejich permanentnost, flexibilita dividendových plateb a schopnost absopce ztrát. Český regulatorní rámec zatím hybridní instrumenty nezná, ale s novou úpravou kapitálové přiměřenosti lze očekávat změnu v přístupu k tomuto druhu kapitálu. Modelovou aplikací hybridních instrumentů do kapitálové struktury skupiny ČSOB došlo ke zvýšení rentability vlastního kapitálu jak na úrovni skupiny, tak i na úrovni jednotlivých bank.

Objectives: To characterize the preferred learning styles of pharmacy students at two colleges of pharmacy in the southeastern United States. Method: The Pharmacists’ Inventory of Learning Styles (PILS) was developed and validated as an instrument specific to pharmacists. We administered the PILS via email using Survey Monkey. Pharmacy students at the Medical University of South Carolina (MUSC) or South Carolina College of Pharmacy (SCCP-MUSC campus) were surveyed in 2007. Pharmacy students at the Gatton College of Pharmacy (GCOP) at East Tennessee State University (ETSU) were surveyed in 2010. An email was sent to each student on a Monday in the fall semester, followed by reminder emails each of the following three weeks. Students were not allowed to take the survey twice and participation was voluntary. Results: Response rates from MUSC and ETSU students were 48% and 71%, respectively. Pharmacy students at both MUSC and ETSU displayed similar preferred learning styles. The most common learning style at each institution was the Producer (61%), while the second most common learning style at each institution was the Director (30.5%), as defined by Austin. Implications: These results are the first to characterize the preferred learning styles of pharmacy students using the PILS. The almost identical results between both schools support the idea that the majority of pharmacy student in the southeastern United States prefer structured learning environments, which is true of both Producers and Directors. Future research assessing the relationship between preferred learning style and educational outcomes in different learning environments is warranted.

This dissertation examines whether Percs, Preferred Equity Redemption Cumulative Stocks, are properly priced regarding to the relevant securities, such as the underlying common stock, the long-term call option of the stock, and so on. Test results indicate that Percs were overpriced with respect to the equivalent packages composed of the relevant securities. Further tests on arbitrage restrictions show that transaction costs would prevent arbitrage profits. This dissertation also examines the market reactions to Percs offerings. Test results reveal that the market reactions to the announcement of Percs offering and the actual issuance are both significantly negative. Compared to the market reaction on common stock offering announcement, the market reaction on Percs offering announcement is weaker. The overpricing of Percs and the weaker reaction of the market suggest that Percs may have advantages in transaction costs, taxes and some corporate finance issues.

Previous surveys of mental health professionals regarding theoretical orientation and the use of various treatment modalities provided valuable information concerning the nature of mental health delivery but primarily focused on professionals providing services to dominant-culture clientele. The present study focused on those degreed workers whose primary clientele were American Indian. Questionnaires were returned by 140 mental health workers who are American Psychological Association (APA) members of American Indian descent, members of the Society of Indian Psychologists (SIP), employees of the Indian Health Service (IHS), and graduate psychology students. Questionnaire responses were analyzed in terms of orientation and treatment modality for various subgroups of respondents. In addition, demographic data (e.g., age, sex, emphasis of graduate study, intervention level, work setting, and service delivery to primary age groups) were compared for Indian and non-Indian respondents. The results provide a unique assessment of current trends in therapeutic approaches used in mental health service delivery with American Indians.