Closed-end funds have been an anomaly in finance because the market prices of their shares differ from their aggregate net asset values per share. They often purchase shares of restricted securities at prices which are discounted from the prices of unrestricted securities. However, restricted securities are valued as if they were unrestricted securities in the determination of fund net asset values. In addition, closed-end funds hold securities which are illiquid and difficult to price. Closed-end funds' discounts and premia can be explained by the mispricing of restricted and illiquid securities. Finally, results of time series regressions over a 21 year period show that closed-end fund discounts and premia cannot be explained by the general level of stock prices. This conclusion contradicts the prior research on this topic.

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Approved for public release; distribution is unlimited / The U.S. Army Training and Doctrine Command (TRADOC) Analysis Center (TRAC) and the Modeling, Virtual Environments, and Simulations Institute (MOVES) at the Naval Postgraduate School, Monterey, California developed the Assignment Scheduling Capability for UAVs (ASC-U) simulation to assist in the analysis of unmanned aerial vehicle (UAV) requirements for the current and future force. ASC-U employs a discrete event simulation coupled with the optimization of a linear objective function. At regular intervals, ASC-U obtains an optimal solution to a simplified problem that assigns available UAVs to missions that are available or will be available within a future time horizon. This thesis simultaneously explores the effects of 26 simulation and UAV factors on the mission value derived when allocating UAVs to mission areas. The analysis assists in defining the near term (2008) UAV force structure and the investment strategy for the mid term (2013), and far term (2018). We combine an efficient experimental design, exploratory modeling, and data analysis to examine 514 variations of a scenario involving five UAV classes and over 21,000 mission areas. The conclusions suggest the following: the optimization interval significantly influences the quality of the solution, percent mission coverage may depend on a few UAV performance factors, small time horizons increase percent mission coverage, and carefully planned designs assist in the exploration of the outer and interior regions of the response surface. / Outstanding Thesis

M.Comm. / Household savings is an important instrument for any economy and is also a crucial determinant of welfare in developing countries. This study investigates the determinants of household savings in South Africa and the factors that influences the current declines experienced in household savings. Household variables such as household income, expenditure, debt, as well as interest rates were analysed using trends to reveal their specific effect to the overall household savings. The Permanent Income Hypothesis emphasises the notion that people save because they expect a decline in their future income, meaning that savings should be a good predictor of a decline in income. Cointegration analysis on South African Reserve Bank data from 1990Q1 to 2009Q3 was conducted and results revealed that with all variables included, household income is the main determinant of household savings in South Africa. Impulse response functions, variance decomposition functions, as well as the granger-causality test were performed and results showed that household income remains the main determinant of household savings.

M.Com. / Please refer to full text to view abstract

D.Econ. / The idea of this dissertation has its origin in the experience of an engineer who often found himself deeply Involved In the making of Investment decisions. The main objective of this Investigation is to develop an Investment decision making model that would fulfil the demands of contemporary business better than the existing models. Such model should, firstly, be based on a sound theory. It should, however, also be easy to handle, and thirdly, be transparent to all bodies and functionaries involved in making the ultimate decision. These demands culminated In the central theme of this dissertation, namely the development of a Multlfact model that would lend itself readily to everyday use.

D.Phil. / IT plays a vital role in most institutions, and decision-makers have to be concerned about ensuring that capital investment decisions pertaining to IT investments are efficient. This is even more crucial in the prevailing tough economic conditions. The intention of the study was to test the perceptions of IT decision-makers on the efficiency of capital investment decisions pertaining to IT within their various institutions. The management dilemma in this study was described as the inability by decision-makers to tell whether or not the IT investment would deliver the desired results. In order to resolve the management dilemma, a list of management questions was raised, for example:  Which factors had an impact on the efficiency of capital investment decisions pertaining to IT?  How did decision-makers quantify the financial and non-financial costs attributable to IT investments?  How did decision-makers quantify the financial and non-financial benefits attributable to IT investments? The primary objective of the research was to conduct a literature review on the identified research constructs and through scientific empirical research construct evidence in support (or otherwise) of the hypotheses that are put forward. The secondary objectives of the research were:  Identifying the factors that impact on the efficiency of capital investment decisions pertaining to IT;  Determining the levels of satisfaction by various stakeholders with regard to the value that IT investments add to their institutions;  Determining whether or not institutions were able to identify and quantify the financial and non-financial costs attributable to IT investments;  Determining whether or not institutions were able to identify and quantify the financial and non-financial benefits attributable to IT investments; iv  Determining whether or not IT investments created a competitive edge over other institutions;  Determining the applicability of risk management tools on IT investments within various institutions; and  Determining the extent to which current financial tools were utilised in evaluating capital investment decisions pertaining to IT.

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by Chan Yiu-keung, Leung Hon-wai, Wong man-yuk. / Abstract in Chinese / Bibliography: leaves 138-142 / Thesis (M.B.A.)--Chinese University of Hong Kong, 1982

by Chan Kwai-Ming, Evan. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1989. / Bibliography: leaves 45-47.