Asset pricing models have been of interest since their origin in modern finance. The Capital Asset Pricing Model is a widely used tool and is one of the early developed asset pricing models in modern finance. There are continual improvements of this model with the evident multifactor models of Fama and French (2015), Carhart (1997) and the South African two – factor arbitrage pricing models of Van Rensburg (2002) and Laird-Smith et al. (2016). This research empirically investigates the performance of eight-different multi-factor asset pricing models in describing average portfolio returns in the South African Johannesburg Stock Exchange. We find that the Carhart (1997) four factor model comprising of the market factor, size factor, value factor and the momentum factor is the most parsimonious model and thus better explains the average portfolio returns in the South African JSE. This model is an improvement of the Fama and French (1992) three factor model. Additionally, we investigate the performance of the two factor Asset Pricing Theory (APT) model of Laird-Smith et al. (2016) and Van Rensburg (2002) that consists of the South African Financial Index (SAFI) and the South African Resources Index (SARI). We observe that the model performs better than the traditional CAPM that is widely used in industry. Adding the SAFI and the SARI to the six-factor model results in an eight-factor model that has a significant improvement in explaining average returns. The results indicate that the market factor, the South African Financial Index and the South African Resources Index (SARI) poorly explain each other but their linear combination improves the eight-factor asset pricing model in explaining average portfolio returns in the South African market. The eight – factor model comprises of the market, size, value, investment, profitability, momentum factors and the two South African indices namely, the South African Financials Index (SAFI) and the South African Resources Index (SARI).

The investment funds provide an alternative investment mechanism to traditional ones such as banks deposits or the trading of securities, which allows us to obtain profitability as a result of the development of multipleactivities, including commercial ones.Its tax treatment, and particularly in the field of Income Tax, contains severalprovisions that are important to analyze and know in order to understand the tax consequences that generate both for their promoters, for those who administer them and for investors.Being transparent vehicles for tax purposes, the development of its activities at the national level and with the participation of foreign capitals, takes many details that we will explain through this article. / Los Fondos de Inversión constituyen un mecanismo de inversión alternativo a los tradicionales como los depósitos bancarios o la negociación de valores, que permite obtener rentabilidad producto del desarrollo de múltiples actividades, incluyendo las de tipo comercial.Su tratamiento impositivo, y en particular en materia del Impuesto a la Renta,contiene diversas disposiciones que son importantes de analizar y conocer a efecto de entender las consecuencias fiscales que generan tanto para sus promotores, como para quienes los administran y para los inversionistas. Siendo vehículos transparentes para propósitos fiscales, el desarrollo de sus actividades a nivel nacional y con la participación de capitales extranjeros reviste varios matices que mediante este trabajo expondremos.

The entire thesis text is included in the research.pdf file; the official abstract appears in the short.pdf file; a non-technical public abstract appears in the public.pdf file. Title from PDF of title page (University of Missouri--Columbia, viewed on December 29, 2009). Thesis advisor: Dr. Jeff Rice. Includes bibliographical references.

This dissertation advances our understanding of how turbidity currents interact with three-dimensional (3-D) minibasin topography and the resulting deposits that form. Conceptual Gulf of Mexico-centric models of minibasin fill development have become the foundation for exploring and identifying strategic deep-water hydrocarbon reserves on continental slopes around the world. Despite the abundance of subsurface data, significant questions remain about the 3-D physical processes through which minibasins fill and the relationship between these processes and the topography of the basin. To overcome this problem, I utilize techniques in physical laboratory modeling to query established models of the role that turbidity currents play in minibasin fill development, and observe the relationships between fill from the Lobster minibasin located in a proximal continental slope position in the Gulf of Mexico and from the Safi Haute Mer (SHM) minibasin located in the distal continental slope of offshore western Morocco. First, existing published literature are reviewed and assessed for the known state of minibasin development and fill processes, and the strengths and weaknesses of our current knowledge base. Second, results are presented from two series of experiments that document the interaction between steady, depletive turbidity currents and 3-D minibasin topography. Experimental results suggest that turbidity currents produce deposits that are more likely to drape pre-flow topography than pond within it. Turbidity current velocity data show a strong 3-D physical component in minibasin fill sedimentation that also influences extra-basinal sedimentation patterns. Details of these results provide insight into processes that have not been previously considered in published conceptual models of minibasin fill. Third, a comparison of the two subsurface datasets show that the types and abundance of architectural elements vary depending on the location of the minibasin on the continental slope (i.e. proximal vs. distal), and suggests key differences in the processes responsible for their infilling. Finally, a comparison of experimental results to preserved deposit architectures in the Lobster and SHM datasets suggest a more complex relationship of process-driven sedimentation than that derived primarily from suspension fallout. This improved understanding of minibasin fill is applicable to industry for increasing confidence in subsurface interpretations and reducing risk while exploring for quality reservoirs in deepwater regions. / text

Cette thèse étudie le thème du mariage interculturel et des identités hybrides de personnages dans The Pickup (2001) de Nadine Gordimer, The Translator (1999) de Leila Aboulela et A Mighty Collision of Two Worlds (2002) de Safi Abdi. L’étude cherche à explorer comment les identités culturelles des protagonistes changent lorsqu’ils se marient avec une personne d’une culture différente des leurs et qu’ils rencontrent de nouvelles traditions et de nouvelles croyances. La théorie de l’hybridité développée par Homi Bhabha et par d’autres théoriciens de l’hybridité peut être un outil pertinent pour analyser l’identité des personnages. Bhabha soutient que ceux qui traversent les cultures vivent dans un “in-between space” ou un “third space,” fluctuant entre leur culture d’origine et leur culture d’accueil. Cependant, les conclusions de l’étude montrent que ces personnages de fiction présentent des cas qui n’ont pas été explorés par les théoriciens de l’hybridité. On s’aperçoit d’autre part, que plusieurs facteurs de nature culturelle, religieuse, personnelle ou sociale influencent les protagonistes dans les romans : soit ils leur identité hybride s’affirme, soit ils conservent la façon de vivre de leur pays d’origine. On remarque aussi que les mariages interculturels et l’identité hybride sont liés entre eux. Le mariage interculturel peut être à la fois la manifestation de l’hybridité, et dans ce cas il est perçu comme une affirmation du vécu hybride servant du même coup de moyen d’aller vers l’hybridité. Contrairement à ce à quoi on pourrait s’attendre, on observe que parfois les relations interculturelles entraînent une réaction anti-hybride / This dissertation studies the subject of cross-cultural marriage and hybrid identities of characters in Nadine Gordimer’s The Pickup (2001), Leila Aboulela’s The Translator (1999), and Safi Abdi’s A Mighty Collision of two Worlds (2002). The study seeks to find out how the cultural identities of the protagonists in the novels change when they marry across cultures and face new traditions and beliefs. Hybridity theory, which is developed by Homi Bhabha and other hybridity theorists, can be a relevant tool for analysis of the characters’ identities. Bhabha contends that those who cross cultures live in an “in-between space” or “third space” in which they oscillate between their native culture and the host culture. However, results show that fictional characters present cases which have not been explored by hybridity theorists. In addition, it is stressed that various factors of a cultural, religious, personal, and social nature affect the protagonists in the novels to either develop a hybrid identity or maintain their native way of life. It is also found that cross-cultural marriage and hybridity are correlated. The former can be both a manifestation of hybridity, where the protagonists’ cross-cultural marriage is seen as an assertion of their hybrid experience, and as a means to hybridity. Contrary to expectations, it is observed that cross-cultural relationships lead to an anti-hybrid reaction