Ever since its introduction in 1952, the Mean-Variance (MV) portfolio selection theory has remained a centerpiece within the realm of e_cient asset allocation. However, in scienti_c circles, the theory has stirred controversy. A strand of criticism has emerged that points to the phenomenon that Mean-Variance Optimization su_ers from the severe drawback of estimation errors contained in the expected return vector and the covariance matrix, resulting in portfolios that may signi_cantly deviate from the true optimal portfolio. While a substantial amount of e_ort has been devoted to estimating the expected return vector in this context, much less is written about the covariance matrix input. In recent times, however, research that points to the importance of the covariance matrix in MV optimization has emerged. As a result, there has been a growing interest whether MV optimization can be enhanced by improving the estimate of the covariance matrix. Hence, this thesis was set forth by the purpose to investigate whether nancial practitioners and institutions can allocate portfolios consisting of assets in a more e_cient manner by changing the covariance matrix input in mean-variance optimization. In the quest of chieving this purpose, an out-of-sample analysis of MV optimized portfolios was performed, where the performance of ve prominent covariance matrix estimators were compared, holding all other things equal in the MV optimization. The optimization was performed under realistic investment constraints, taking incurred transaction costs into account, and for an investment asset universe ranging from equity to bonds. The empirical _ndings in this study suggest one dominant estimator: the covariance matrix estimator implied by the Gerber Statistic (GS). Speci_cally, by using this covariance matrix estimator in lieu of the traditional sample covariance matrix, the MV optimization rendered more e_cient portfolios in terms of higher Sharpe ratios, higher risk-adjusted returns and lower maximum drawdowns. The outperformance was protruding during recessionary times. This suggests that an investor that employs traditional MVO in quantitative asset allocation can improve their asset picking abilities by changing to the, in theory, more robust GS  ovariance matrix estimator in times of volatile nancial markets.

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El siguiente trabajo de investigación tiene como finalidad exponer la relación existente entre el género y la configuración de personajes en dos películas (J'ai tué ma mère y Laurence Anyways) del director canadiense Xavier Dolan. Este trabajo cobra interés e importancia dentro de un marco social que ha revitalizado los estudios en lo referente al género, ya que existe la necesidad de conocer y entender a las variantes de género que siempre han existido. Se parte del objetivo general de analizar las otras identidades masculinas homosexuales y lo transgénero en ambas películas, como espacio para la confluencia de las diversas voces presentes en estos discursos fílmicos. Con esto se logrará describir masculinidades alternativas al canon, analizar la relación entre la masculinidad hegemónica, sus variantes y lo transgénero. El primer capítulo es una breve introducción al marco general en el cual queda inscrita esta investigación, tanto en el ámbito social como en el académico. El segundo capítulo es el desarrollo de los conceptos básicos utilizados en este trabajo. El tercero, refiere a la metodología empleada para la tesis y el cuarto y último capítulo es el análisis de las películas desde un punto de vista narrativo y visual. Este trabajo está dirigido a la comunidad académica y a las personas que encuentran necesario expandir el campo de investigación de los estudios de género. En esta oportunidad, nos enfocamos en los productos culturales y la relación que puede darse con la identidad de género, sus variantes y su desempeño para dar construcción a discursos fílmicos.

Les films d’animation de Hayao Miyazaki sont parsemés de ma, des moments de silence, de mouvement gratuit qui célèbrent des instants en apparence anodins du quotidien. Ce mémoire discute l’importance de ce concept dans la construction identitaire des personnages au sein du rite initiatique à travers une analyse du ma dans Le Voyage de Chihiro et Le Château Ambulant. Le ma soutient la vision d’un bien-grandir typiquement miyazakien : percevoir le ma devient une capacité essentielle pour sortir de l’aliénation de la vie moderne, envisageant la restauration d’une mémoire collective disparue des centres urbains. Ce mémoire est structuré selon chacune des trois phases du rite de passage telles que définies par Victor Turner et Arnold Van Gennep. Dans la phase de séparation, le ma est lié à un être-dans-le-monde dont la perception permet une reconnexion au monde sensible. Dans la phase liminaire, il est un être-ensemble proche du concept de communitas et permet la création de communautés authentiques dans la troisième phase, la phase de réintégration dans la collectivité. L'omniprésence du ma tout au long du rite de passage supporte les convictions du réalisateur, exprimant son espoir que les jeunes générations puissent s’épanouir dans des sociétés modernes aliénantes. / Hayao Miyazaki's animated films are sprinkled with ma, moments of silence and gratuitous movement that celebrate seemingly insignificant moments of daily life. This thesis explores the significance of ma in the construction of characters' identities within the initiation rite through an analysis of Spirited Away and Howl's Moving Castle. Ma supports Miyazaki's vision of the rite of passage into adulthood: the ability to perceive ma becomes an essential skill to break free from the alienation of modern life, envisioning the restoration of a collective memory lost in urban spaces. The thesis is structured according to the three phases of the initiation rite defined by Victor Turner and Arnold Van Gennep, each associated with a specific definition of ma. In the separation phase, ma is a feeling of being-in-the-world, whose perception allows a reconnection with the sensory world. In the liminal phase, it is a being-together close to the concept of communitas, fostering the creation of authentic communities in the third phase, the phase of reintegration into society. The omnipresence of ma throughout the rite of passage reinforces Miyazaki's convictions, expressing his hope that younger generations can thrive in modern alienating societies.

[pt] A presente dissertação tem como objetivo analisar a quantificação do lucro da intervenção, partindo da convicção de que a utilização indevida do direito de um terceiro não pode jamais ser um bom negócio. Inicialmente, será demonstrado que o enriquecimento sem causa é o instituto mais adequado para lidar com situações em que uma pessoa se beneficia injustamente à custa de outra. Serão minuciosamente analisados os critérios que precisam ser atendidos para que se caracterize esse tipo de enriquecimento, como o aumento patrimonial do interveniente, a obtenção da vantagem à custa de outrem, a ausência de justa causa e a subsidiariedade do instituto. Em seguida, serão explorados os métodos objetivos para calcular o valor que deve ser devolvido ao titular do direito violado, apontando a inaplicabilidade da teoria do duplo limite aos casos de lucro da intervenção, bem como as razões pelas quais os valores pagos a título de reparação de danos extrapatrimoniais não devem ser abatidos do montante a ser restituído. Sustenta-se, ainda, a inadequação de compensar o lucro com o dano dentro do contexto de enriquecimento sem causa. Por fim, será discutido o papel da boa-fé e da má-fé na conduta do interventor, onde o trabalho explorará as divergências na doutrina sobre o tema, concluindo que se o interventor age de boa-fé deve restituir o valor de mercado da vantagem obtida e o lucro da intervenção deve ser repartido entre o interventor e o titular de direito, de forma proporcional à contribuição de cada um. Quanto à má-fé, conclui-se que, além do valor devido pelo uso do bem, o interventor deve restituir todo o lucro obtido com a intervenção. Essa abordagem proporcionará uma análise detalhada dos aspectos legais e éticos envolvidos na quantificação do lucro da intervenção, contribuindo para uma compreensão mais profunda do tema no contexto do Direito brasileiro. / [en] This dissertation aims to analyze the quantification of the disgorgement of profits, based on the conviction that the improper use of a third party s right can never be a good deal. Initially, it will be demonstrated that unjust enrichment is the most appropriate institute for dealing with situations in which one person benefits unfairly at the expense of another. The criteria that need to be met in order to characterize this type of enrichment will be thoroughly analyzed, such as the increase in the intervening party s assets, obtaining the advantage at the expense of others, the absence of just cause and the subsidiarity of the institute. Next, objective methods will be explored to calculate the amount that must be returned to the holder of the violated right, pointing out the inapplicability of the double limit theory to cases of profit from intervention, as well as the reasons why the amounts paid as reparation of moral damages must not be deducted from the amount to be refunded. It is also argued that it is inappropriate to compensate profit for damage within the context of unjust enrichment. Finally, the role of good faith and bad faith in the intervenor s conduct will be discussed, where the work will explore the divergences in the doctrine on the subject, concluding that if the intervenor acts in good faith he must restore the market value of the advantage obtained and the profit from the intervention must be shared between the intervener and the right holder, in proportion to the contribution of each one. As for bad faith, it is concluded that, in addition to the amount due for the use of the asset, the intervener must refund all the profit obtained from the intervention. This approach will provide a detailed analysis of the legal and ethical aspects involved in quantifying the profit from the intervention, contributing to a deeper understanding of the topic in the context of Brazilian Law.

This item contains the agenda, minutes, and attachments for the Faculty Senate meeting on this date. There may be additional materials from the meeting available at the Faculty Center.

Nesta dissertação apresenta-se uma reflexão acerca do Espaço Pessoal, Espaço Parcial, Espaço Total, Espaço Social, Espaço Cênico e a espacialidade Ma, Tendo como bases a extensa bibliografia e a também extensa experiência artística e pedagógica da autora como atriz-dançarina, professora, pesquisadora, diretora e coreógrafa. A dissertação visa servir de ponto de partida para que alunos e professores em Artes Cênicas pensem a abordagem do corpo cênico em sala de aulas e em criações artísticas. No início há definições de conceitos a respeito do corpo, assim como o estudo sobre abordagens teóricas significativas, tais como a teoria do Corpomídia e a Teoria do Corpo Sem Órgãos, para que sirvam como referência compartilhada com a autora, a fim de que se possa seguir para a reflexão acerca dos espaços propostos. A seguir há a apresentação de cada espaço. Ao se referir à espacialidade Ma, pela sua complexidade, já que se trata de um conceito da cultura japonesa de difícil compreensão pelos ocidentais, dadas as diferenças que existem entre as culturas ocidental e oriental, a autora se dedica ao estudo detalhado da tese de Doutorado de Michiko Okano, Ma: Entre-espaço da Comunicação no Japão Um estudo acerca dos diálogos entre Ocidente e Oriente, relacionandoa com as Artes Cênicas para, ao final, se esforçar em apontar espacialidades Ma nas montagens cênicas O Olho do Tamanduá, com direção de Takao Kusuno, e Lucíola cena 1, com direção da própria autora, sendo que em ambas ela participa como atrizdançarina- criadora. São mencionados especificamente os trabalhos de Rudolf Laban, Michiko Okano, Patrícia Stokoe, Eugênio Barba, Takao Kusuno, Antonin Artaud, Hideki Matsuka, Akira Kasai, Ko Murobushi, Gilles Deleuze, Felix Gattari, Helena Katz, Christine Greiner, Cassiano Quilice. / This dissertation presents a reflection on the Personal Space, Partial Space, Total Space, Social Space, Scenic Space and the Ma spatiality, having as basis the extensive bibliography and the extensive artistic and pedagogical experience of the author as an actress-dancer, teacher, researcher, director and choreographer. The dissertation aims to function as a starting point for Performing Arts pupils and teachers to think bodys scenic approach in classroom and in artistic creation. At the beginning there are definitions of concepts about the body and the study of major theoretical approaches, such as the Corpomedia and Body Without Organs theories, which serve as a shared reference to both author and reader and define a way of reflection about the spaces mentioned. Then we have the presentation of each space. As it concerns Ma Spatiality, because of its complexity and also because of the fact that it is a Japanese cultural concept of difficult understanding (concerning the differences between Western and Eastern cultures) the author engaged herself in the detailed study of the doctoral thesis of Michiko Okano, Ma: an inter-space of communication in Japan - a study on the dialogues between East and West. At the end, the author links it to Performing Arts and focuses on appointing the presence of Ma spatiality on Takao Kusunos work O Olho do Tamanduá, in which she has participated as an actress-dancer-creator, and Lucíola cena 1, directed and performed by the author herself. The work of Rudolf Laban, Michiko Okano, Patricia Stokoe, Eugenio Barba, Antonin Artaud, Kusuno Takao, Hideki Matsuka, Akira Kasai, Ko Murobushi, Gilles Deleuze, Felix Gattari, Helena Katz, Christine Greiner and Cassiano Quillice are specifically mentioned.

University of Macau / Faculty of Social Sciences and Humanities / Department of Chinese

Cette thèse comporte deux parties distinctes, toutes les deux liées à la théorie du transport optimal. Dans la première partie, nous considérons une variété riemannienne, deux mesures à densité régulière et un coût de transport, typiquement la distance géodésique quadratique et nous nous intéressons à la régularité de l’application de transport optimal. Le critère décisif à cette régularité s’avère être le signe du tenseur de Ma-Trudinger-Wang (MTW). Nous présentons tout d’abord une synthèse des travaux réalisés sur ce tenseur. Nous nous intéressons ensuite au lien entre la géométrie des lieux d’injectivité et le tenseur MTW. Nous montrons que dans de nombreux cas, la positivité du tenseur MTW implique la convexité des lieux d’injectivité. La deuxième partie de cette thèse est liée aux équations aux dérivées partielles. Certaines peuvent être considérées comme des flots gradients dans l’espace de Wasserstein W2. C’est le cas de l’équation de Keller-Segel en dimension 2. Pour cette équation nous nous intéressons au problème de quantification de la masse lors de l’explosion des solutions ; cette explosion apparaît lorsque la masse initiale est supérieure à un seuil critique Mc. Nous cherchons alors à montrer qu’elle consiste en la formation d’un Dirac de masse Mc. Nous considérons ici un modèle particulaire en dimension 1 ayant le même comportement que l’équation de Keller-Segel. Pour ce modèle nous exhibons des bassins d’attractions à l’intérieur desquels l’explosion se produit avec seulement le nombre critique de particules. Finalement nous nous intéressons au profil d’explosion : à l’aide d’un changement d’échelle parabolique nous montrons que la structure de l’explosion correspond aux points critiques d’une certaine fonctionnelle. / This thesis consists in two distinct parts both related to the optimal transport theory.The first part deals with the regularity of the optimal transport map. The key tool is the Ma-Trundinger-Wang tensor and especially its positivity. We first give a review of the known results about the MTW tensor. We then explore the geometrical consequences of the MTW tensor on the injectivity domain. We prove that in many cases the positivity of MTW implies the convexity of the injectivity domain. The second part is devoted to the behaviour of a Keller-Segel solution in the super critical case. In particular we are interested in the mass quantization problem: we wish to quantify the mass aggregated when the blow-up occurs. In order to study the behaviour of the solution we consider a particle approximation of a Keller-Segel type equation in dimension 1. We define this approximation using the gradient flow interpretation of the Keller-Segel equation and the particular structure of the Wasserstein space in dimension 1. We show two kinds of results; we first prove a stability theorem for the blow-up mechanism: we exhibit basins of attraction in which the solution blows up with only the critical number of particles. We then prove a rigidity theorem for the blow-up mechanism: thanks to a parabolic rescaling we prove that the structure of the blow-up is given by the critical points of a certain functional.