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Minting America: Coinage and the Contestation of American Identity, 1775-1800Ambuske, James Patrick 01 December 2006 (has links)
No description available.
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Private Labels and Personal Care: A Focus on Store Brand Package Design, Branding Design and Consumer Attitudes Towards Private Label Personal Care ProductsKing, Larrie Leon, Jr. 04 August 2014 (has links)
No description available.
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股市價量關係的分量迴歸分析 / A Quantile Regression Analysis of Return-Volume Relations in the Stock Markets莊家彰, Chuang, Chia-Chang Unknown Date (has links)
第一章 台灣與美國股市價量關係的分量迴歸分析
摘要
本文利用分量迴歸來觀察台灣和美國股市報酬率和成交量的價量關係。實證結果發現兩地股市的價量關係截然不同。台灣股市的報酬率與成交量之間具有正向關係,呈現「價量齊揚」和「價跌量縮」的現象,而前者效果通常較顯著;但報酬率接近最大漲幅限制時,報酬率與成交量之間並無顯著關係,報酬率接近最大跌幅限制時,「價跌量縮」的現象甚至更強。相對於台灣,美國股市的報酬率與成交量則出現「價量齊揚」與「價量背離」互相對稱的 “V” 字關係。就實證方法而言,傳統以 OLS 方法估計的迴歸模型並無法得到上述的實證結果。進一步的分析顯示,融券成數的高低以及平盤以下不得放空等規定都是造成台灣股市出現「價跌量縮」的可能原因。
第二章 股市價量關係的分量迴歸分析 (二)
摘要
本章利用分量迴歸觀察包括台灣在內的亞洲新興工業國家與成熟股市的價量關係。實證結果顯示,亞洲新興工業國家和日本股市「價量齊揚」的效果較強,其中香港、南韓和新加坡呈現較弱的「價量背離」現象,因此價量之間有不對稱的 “V” 字關係;而日本股市則呈現「價跌量縮」,與第一章分析的台灣股市價量關係相似。在成熟股市的價量關係中,英國金融時報指數、美國道瓊工業指數和德國股價指數皆呈現對稱的 “V” 字關係,與美國US指數的價量關係相似。亞洲地區的國家在1997下半年到1998上半年普遍經歷了一場金融風暴,本文進一步的分析發現在這場風暴期間,亞洲地區除了台灣以外,日本、香港、南韓與新加坡都出現較強的「價量齊揚」與「價量背離」,這種現象可能肇因於投資人認為風暴期間的股價報酬率風險較高,遂使得股價報酬率對成交量的反應較為敏銳。相對而言,歐美地區的國家,受到亞洲金融風暴的影響較小,所以整體的價量關係在亞洲金融風暴期間並無重大改變。本章的結果都是透過分量迴歸所獲得。
第三章 股市價量因果關係的分量迴歸分析
摘要
本文依據分量迴歸設計 Granger 因果關係的新檢驗方法,並依此方法來檢驗幾個股市價量之間的因果關係。本文分析的股市包括日本、英國與美國等世界前三大股市,以及合稱亞洲四小龍的台灣、香港、南韓與新加坡等新興工業國家或地區的股市。實證結果顯示:除了台灣股市以外,其他的股市皆呈現 “V” 字的跨期價量關係。其中英國、美國、香港和新加坡股市的跨期價量關係大體呈現正向「價量齊揚」與負向「價量背離」互相對稱的 “V” 字關係,而日本和南韓股市則是「價量齊揚」較強的不對稱 “V” 字關係。此一結果表示這些股市的價量之間都存在分配上的 Granger (1969) 因果關係。但若以均數迴歸來衡量跨期價量關係,則所有股市都呈現不顯著的跨期價量關係,也就是傳統文獻上所謂價量之間沒有 Granger 因果關係。本文所提出的 Granger 因果關係之分量迴歸分析,可以觀察到整個條件分配中各分量的因果關係,為分配上的 Granger 因果關係提供一個較完整的檢驗方法。 / We examine the relationship between the stock return and trading volume in the Taiwan and U.S. Stock Exchanges using quantile regression. The empirical results show that the return-volume relations in these two exchanges are quite different. For Taiwan data, there are significant positive return-volume relations across quantiles, showing that a large positive return is usually accompanied with a large trading volume and a large negative return with a small trading volume, yet the effect of former is stronger. However, such relations change when returns approach the price limits. We also find that for U.S. data, return-volume relations exhibit symmetric V-shapes across quantiles, showing that a large return (in either sign) is usually accompanied with a large trading volume. On the other hand, linear regressions estimated by the ordinary least square method are unable to reveal such patterns. Further investigation shows that various restrictions on short sales in the Taiwan Stock Exchange may explain the difference between the return-volume relations in Taiwan and U.S. data.
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台灣在中美洲的外援 / Taiwan’s foreign aid in Central America蕾亞珊 Unknown Date (has links)
大部分的台灣援助研究討論台灣外交政策,沒有太多的研究是從受援者的觀點探討台灣的發展協助成效。本研究將檢視台灣援助的西班牙語學術論文, 選擇一個個案研究,並從事訪談,以中美洲的觀點來闡述台灣援助的成效。且將分析台灣的 外交援助,特別是財團法人國際合作發展基金會從1998年到2015年在中美洲的策略。本研究質疑由國際社會先前 對台灣在中美洲的金錢外交探索,相反地,本研究將評估儘管中美洲有貪污醜聞,台灣援助在中美洲仍是有利的原因。
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Sterling and the stability of the International Monetary System, 1944-1971Naef, Alain January 2019 (has links)
This dissertation studies the role of sterling during the Bretton Woods period (1944-1971). The Bretton Woods system has often been described as a dollar system with sterling having lost its relevance as reserve currency. However, despite being a secondary reserve currency and having lost importance, sterling was the 'first line of defence for the dollar' as contemporaries put it. They frequently stressed the fact that a sterling crisis would have consequences on the stability of the Bretton Woods system but economic historians have never tested this empirically. This dissertation argues that sterling played an important role in the stability of the international monetary system. Foreign exchange market participants globally monitored sterling and US policymaker stepped in to avoid devaluation of the British currency. US support to sterling was mainly due to the fear of a British devaluation, which could trigger a run on the dollar. When the UK finally devalued the pound in 1967, it marked the beginning of an instable period for the international monetary system. The Gold Pool, a syndicate to defend the US gold parity, collapsed in 1968 and this prefigured the end of the Bretton Woods system. This dissertation presents new data along with novel archival material from seven archives across continents to demonstrate how contagion from sterling to the dollar occurred. Modern econometric methods are used to analyse a new dataset with over 80,000 observations of offshore exchange rates, central bank intervention and reserves. This evidence shows that a secondary reserve currency can still play a key role in the stability of the international monetary system.
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以厚尾分配及緩長記憶特性模型分析日圓匯率期貨報酬之風險值 / VaR Analysis for the Dollar/Yen Exchange Rate Futures Returns with Fat-Tails and Long Memory鄭士緯, Cheng, Shih-Wei Unknown Date (has links)
本篇文章將採用長期記憶模型之一的HYGARCH模型,搭配1985年廣場協議後的日圓匯率期貨資料來估計日圓期貨匯率買入和放空部位的日報酬風險值,探討控管日圓匯率期貨在使用上的風險。為了更準確地計算風險值,本文採用常態分配、學生t分配以及偏態學生t分配來作模型估計以及風險值之計算。
本文實證的結果將有兩方面的貢獻:首先,實證結果顯示當我們採用厚尾分配估計風險值時,樣本內風險值的估計誤差會與信賴水準的高低呈正比的現象,證明在極端的風險值估計上,厚尾分配均有較佳的表現。其次,與其他使用HYGARCH模型研究日圓匯率的文章相較,本文在風險控管層面上所提供的偏態學生t分配,於估計風險值時,比起只考慮厚尾的對稱學生t分配將來得更為有效,其不但在估計誤差上較小,而且根據Kupiec檢定法,其在樣本內的風險值估計也有較好的表現。此外,本文也將多方證明此資料的偏態分配屬於右偏。 / In order to manage the exposure of the dollar/yen futures returns with regarding the long memory behavior in volatility, we use the HYGARCH(1,d,1) model with the data after the Plaza Accord to compute daily Value-at-Risk (VaR) of long and short trading positions. To take into account the fat-tail situation in financial time series, we estimate the model under the normal, Student-t, and skewed Student-t distributions. The contribution of this article is twofold. First, the empirical results show that the bias of in-sample VaR increases as the confidence level increases when VaR is calculated with a fat-tail distribution. Second, we provide a better distribution, the skewed Student-t innovation, for estimating the HYGARCH model for the Japanese yen in respect of risk management because the bias under the skewed Student-t innovation is smaller than that under the Student-t distribution, and in-sample VaR of the models with a skewed Student-t distribution outperforms based on Kupiec test. In addition, we get the innovation skewed to the right through the in-sample VaR analysis.
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Minting America coinage and the contestation of American identity, 1775-1800 /Ambuske, James Patrick. January 2006 (has links)
Thesis (M.A.)--Miami University, Dept. of History, 2006. / Title from first page of PDF document. Includes bibliographical references (p. 59-64).
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Three essays in international economicsMalek Mansour, Jeoffrey H.G. 25 January 2006 (has links)
This thesis consists in a collection of research works dealing with various aspects of International Economics. More precisely, we focus on three main themes: (i) the existence of a world business cycle and the implications thereof, (ii) the likelihood of asymmetric shocks in the Euro Zone resulting from fluctuations in the euro exchange rate because of differences in sector specialization patterns and some consequences of such shocks, and (iii) the relationship between trade openness and growth influence of the sector specialization structure on that relationship.<p><p>Regarding the approach pursued to tackle these problems, we have chosen to strictly remain within the boundaries of empirical (macro)economics - that is, applied econometrics. Though we systematically provide theoretical models to back up our empirical approach, our only real concern is to look at the stories the data can (or cannot) tell us. As to the econometric methodology, we will restrict ourselves to the use of panel data analysis. The large spectrum of techniques available within the panel framework allows us to utilize, for each of the problems at hand, the most suitable approach (or what we think it is). / Doctorat en sciences économiques, Orientation économie / info:eu-repo/semantics/nonPublished
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Investiční prostředí ve virtuální real cash ekonomice / Investment Environment in the Virtual Real Cash EconomyLehnert, Filip January 2016 (has links)
The subject of this thesis is to introduce the reader to the issue of possible financial investment in the virtual economy with real funds and design strategies to maximize the initial capital appreciation. The introduction describes the analysis of virtual PED currency, the economy and the system of publicly traded shares. The main part is focused on presenting the results of practical traded investment based on fundamental analysis, speculation about the intrinsic value of the shares and evaluating applied strategies, including the benefits of work.
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The Limits of Fire Support: American Finances and Firepower Restraint during the Vietnam WarHawkins, John Michael 16 December 2013 (has links)
Excessive unobserved firepower expenditures by Allied forces during the Vietnam War defied the traditional counterinsurgency principle that population protection should be valued more than destruction of the enemy. Many historians have pointed to this discontinuity in their arguments, but none have examined the available firepower records in detail. This study compiles and analyzes available, artillery-related U.S. and Allied archival records to test historical assertions about the balance between conventional and counterinsurgent military strategy as it changed over time.
It finds that, between 1965 and 1970, the commanders of the U.S. Military Assistance Command, Vietnam (MACV), Generals William Westmoreland and Creighton Abrams, shared significant continuity of strategic and tactical thought. Both commanders tolerated U.S. Army, Marine Corps, and Allied unobserved firepower at levels inappropriate for counterinsurgency and both reduced Army harassment and interdiction fire (H&I) as a response to increasing budgetary pressure. Before 1968, the Army expended nearly 40 percent of artillery ammunition as H&I – a form of unobserved fire that sought merely to hinder enemy movement and to lower enemy morale, rather than to inflict any appreciable enemy casualties. To save money, Westmoreland reduced H&I, or “interdiction” after a semantic name change in February 1968, to just over 29 percent of ammunition expended in July 1968, the first full month of Abrams’ command. Abrams likewise pursued dollar savings with his “Five-by-Five Plan” of August 1968 that reduced Army artillery interdiction expenditures to nearly ten percent of ammunition by January 1969. Yet Abrams allowed Army interdiction to stabilize near this level until early 1970, when recurring financial pressure prompted him to virtually eliminate the practice. Meanwhile, Marines fired H&I at historically high rates into the final months of 1970 and Australian “Harassing Fire” surpassed Army and Marine Corps totals during the same period. South Vietnamese artillery also fired high rates of H&I, but Filipino and Thai artillery eschewed H&I in quiet areas of operation and Republic of Korea [ROK] forces abandoned H&I in late 1968 as a direct response to MACV’s budgetary pressure. Financial pressure, rather than strategic change, drove MACV’s unobserved firepower reductions during the Vietnam War.
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