Title: Comparison of Special Breathing Exercises versus Specialized Physiotherapeutic Interventions for Static Apnea Objectives: The aim of this diploma thesis is to look deeper into the issue of improving performance in static apnea, one of the competitive disciplines of freediving and compare its training with 1) special breathing exercises for divers (Mana, 2018) and 2) physiotherapeutic intevrentions based on working with the diaphragm and deep stabilization system of the spine (Kolář, 2009). The aim was to find out which group achieved a more effective result and what is the overall diference between the training result of both groups in terms of posture quality and performance in static apnea. Methods: The experiment involved 14 healthy people, men and women, aged 19-23 years old. The experiment consisted of three parts: 1) Initial measurement of static apnea and examination of four tests to determine the quality of one's postural muscles, 2) four-week lasting training according to the division into groups (breathing exercises for divers or training based on physiotherapy intervention), 3) final measurement of static apnea and re-examination of posture tests. The obtained data were recorded and processed. Results: It appeared that due to the small amount of statistically signifiant data and...

The purpose of this paper is to select the best GARCH-type model for modelling the volatility of Bitcoin, Bitcoin Cash, Litecoin, Dogecoin and Ethereum. GARCH (1,1), IGARCH(1,1), EGARCH(1,1), TGARCH(1,1) and CGARCH(1,1) are used on the cryptocurrencies closing day return. We select the model with the highest Maximum Likelihood and run an OLS regression on the conditional volatility to measure the day-of-the-week effect. The findings show that EGARCH(1,1) model best suits Bitcoin, Litecoin, Dogecoin and Ethereum data and that the GARCH(1,1) model suits best Bitcoin data. The results show a significant presence of day-of-the-week effects on the conditional volatility of some days for Bitcoin, Bitcoin Cash and Ethereum. Wednesday has a significant negative effect on Bitcoin conditional volatility. Friday, Saturday and Sunday are found to be significant and positive on Bitcoin Cash conditional volatility. Finally, Saturday is found to be significant and positive on Ethereum conditional volatility.

This thesis examines the initial performance of private equity-backed IPOs in relation to non-private-equity-backed IPOs listed on Nasdaq Stockholm and Nasdaq First North Growth Market during the years 2011-2021. It further measures the effect of independent variables on the return after the first day- and first week of trading as well as if the first day performance impacts the first week performance. Previous research finds that IPOs in general are underpriced, and that private equity-backed IPOs tend to perform poorer than non-private-equity-backed IPOs on the first day of trading. Previous research further finds that underpriced IPOs have poor aftermarket performance since the issues usually decline during the first couple of days of trading, subsequently converging towards a lower price rapidly after listing, making it less profitable to invest in an IPO in the aftermarket. Univariate and multivariate analyses test this and the findings indicate that the first day return impacts the first week performance. It also finds that larger private equity-backed IPOs are underpriced and show poorer first day performance compared with larger non private-equity-backed-IPOs. Yet, this is not found to hold for the total sample covering all offering sizes. However, our findings cannot confirm that private equity-backed IPOs would show poorer performance compared with non-private-equity-backed IPOs after the first week of trading. Among the independent variables, the nominal offer price was found to have a significant impact on the first day return alongside with which stock exchange the company was listed on.

No description available.

This research paper studies the Day-of-the-week effect in the cryptocurrency market. Using multiple regression, we analyze the effect using 12 counterfactual optimized portfolios of the cryptocurrencies, as well as the 10 cryptocurrencies alone. Our findings show that well-optimized cryptocurrency portfolios are not subject to Day-of-the-week effects. A positive Monday and a negative Thursday effect were confirmed in Bitcoin, Ethereum, and Ripple, as well as a negative Sunday effect for Ripple.

長期以來，美國及許多國家的股市中普遍存在一個特殊的現象一一周末效應(weekend effect或day–of–the－week effect)，即一週中每日購買的平均報酬率不盡相同， 在星期一時相當低，到週末時卻變得很高。 一般而言，股票報酬的產生過程有二種假設，一為日歷時間假設(Calender Timn Hy- pothesis)， 一為交易時間假設(Trading Time Hypothesis)。 前者假設股票投資報 酬是如利息般，隨著時間的經過而持續產生，在此假設下，週一報酬的分配將不同於 一週內其他交易日報酬的分配，因為週一報酬包含了週五收盤至週一收盤三天的時間 ，而其他交易日之報酬僅包含一天的時間。但在交易時間假設下，股票報酬僅產生在 股市交易時間內，則一週內各交易日之報酬的產生均只有一天，故其報酬分配將不會 有所差異。 本研究之主題為「股票投資報酬與週末效應」，除探討有關理論外，其主要目的在研 究台灣地區上市公司股票投資報酬的產生過程及報酬在時間上的分佈狀況。故本研究 以實證方式進行，首先選擇能代表上市公司股票投資報酬的綜合性指標做為初步研究 對象，並收集資料，進行變異數分析，最後對結果加以分析與歸納，得到實證結果。

近年來的研究顯示英美兩國的無風險利率存在著星期效應，但其股市報酬率的星期效應卻逐漸消失、甚至有反轉，因此本研究想探討台灣加權股價指數報酬率與無風險利率，是否存在著星期效應，抑或跟隨英美兩國的腳步，星期效應不再。此外，本研究亦探討風險溢酬的星期效應，試圖從中解開風險溢酬之謎(Equity Risk Premium)。 行政院於1998年至2000年實施「公務人員每月二次週休二日實施計劃」，台灣股票市場因此實施隔週休二日的制度，這特別的休市制度正好提供本研究進行交割效應假說所需的特殊樣本。認售權證正式於2003年7月上市掛牌買賣，因此去年下半年開始發行的認售權證交易量，亦正好提供本研究檢定投機放空假說所需的樣本。 實證結果顯示，大盤指數報酬率與風險溢酬有顯著的星期效應與週末效應，一週之中每日的報酬率並不相等，其中以週五與週六為最高，有顯著為正的報酬。而週一與週二平均報酬率為負但不顯著。而無風險利率有顯著的星期效應，但週末效應卻不顯著，一週之中每日的利率雖不相等但均顯著異於零。 更進一步探究報酬率、風險溢酬之星期效應與週末效應的成因，發現此星期效應、週末效應支持資訊處理假說、正向回饋假說與投機放空假說；但是卻不支持交割效應假說淤測量錯誤假說。因此得知台灣股票市場報酬率與風險溢酬之星期效應與週末效應的成因，乃為投資人在工作日與非工作日資訊處理成本的差異而導致；此外，過多的融券交易量亦為造成星期效應與週末效應的成因之一。 關鍵詞：星期效應、週末效應、風險溢酬、TLS模型、Power Ratio

A Semana Nacional de Ciência e Tecnologia é um evento anual que busca mobilizar a população brasileira em torno de temas da Ciência e Tecnologia. Desde a primeira edição, em 2004, a Universidade de São Paulo promove um processo de Divulgação Científica por meio de ações de extensão. Apesar de, atualmente, o modelo de \"feira de ciências\" ser a principal estratégia usada pela universidade na maioria das edições do evento, pouco se conhece além do número de visitantes, escolas e ações oferecidas pelos museus e institutos que participam da feira. O presente trabalho busca investigar como ocorrem os processos de elaboração e execução do evento e como o público interage com os expositores. A pesquisa de natureza qualitativa conta com o suporte teórico da Teoria da Atividade, referencial que permite leitura complexa do fenômeno estudado, por sua abordagem histórico-cultural. O foco de análise é a sistematização das Atividades dos sujeitos para localização de contradições e tensões, elementos fundamentais para o surgimento de Ciclos Expansivos de Aprendizagem. Para isso, foram feitas entrevistas semiestruturadas com expositores, organizadores e um representante do Ministério da Ciência Tecnologia e Inovação (MCTI). A interação do público com os estandes foi registrada em áudio e vídeo. A análise dos dados permitiu a construção do modelo da Atividade dominante do evento, ou seja, de uma Atividade comum a todos os sujeitos envolvidos na feira, caracterizada como Atividade de Negociação entre Ciência e Sociedade. Também foram caracterizadas as Atividades dos expositores, organizadores e visitantes. Na Atividade de Extensão Universitária, realizada pelos expositores, foi possível identificar que os diferentes sujeitos encontramse em níveis de reflexão diferentes a respeito do trabalho que desenvolvem. A Atividade de Produção do Evento, executada pelos organizadores, apresentou três ciclos de aprendizagem expansiva, mostrando um amadurecimento da organização. Foi possível, ainda, identificar uma interrupção dessa aprendizagem expansiva. Ao analisar a Atividade de Visitação, foi possível perceber a importância do interesse prévio do estudante para a decisão de visitar um estande. Foram caracterizados os tipos de interação encontradas nos estandes, bem como os objetos usados pelos expositores para a construção do discurso. Estes dois elementos permitiram apontar as diferenças na duração das visitas, sendo a combinação destes determinantes para a atração do estande e a retenção do mesmo em um estande. A identificação das Atividades permitiu a construção hierárquica do Sistema de Atividades, no qual observou-se como elementos das Atividades em níveis inferiores eram influenciados pelos objetos transformados das Atividades dos níveis superiores. Sob a ótica dos níveis hierárquicos de contradição proposto por Engeström (1987), foi possível perceber a predominância de contradições terciárias, aquelas que ocorrem entre as Atividades de um sistema, e de contradições primárias, aquelas que ocorrem em um elemento da Atividade. Como contribuição para as discussões na Teoria da Atividade, propõe-se quatro categorias de contradições que emergiram da análise do evento: contradições na esfera das concepções de valores; contradições na esfera da comunicação; contradições de caráter organizacional; e contradições de caráter político. / The National Science and Technology Week is an annual event that seeks to mobilize the population around issues of Science and Technology. Since its first edition, in 2004, the University of São Paulo promotes science communication through outreach activities. Although currently the model of \"science fair\" is the main strategy used by the university in most editions of the event, little is known beyond the number of visitors, schools and programs offered by museums and institutes at the fair. This study aims to investigate how the organization and execution of the event occurs and how the public interacts with the exhibitors. The qualitative research has the theoretical support of the Activity Theory, framework that allows complex interpretation of the phenomenon studied because of its historical-cultural approach. The focus of analysis is the systematization of the subjects Activities to locate contradictions and tensions, fundamental elements for the development of Expansive Learning Cycles. For that, semistructured interviews were conducted with exhibitors, organizers and a spokesman of the Ministry of Science, Technology and Innovation. The interaction of the public with the stands was recorded on audio and video. Data analysis allowed the construction of a model of the dominant activity of the event, that can be explained as a common activity to all those involved in the fair, characterized as Trading Activity between Science and Society. Also the Activities of the exhibitors, organizers and visitors were characterized. In the University Outreach Activity, carried out by the exhibitors, was possible to identify that the different subjects are at different levels of reflection about the work they do. The Event Production Activity, performed by the organizers, presented three Expansive Learning Cycles, showing a maturing organization. It was also possible to identify an interruption of this expansive learning. By analyzing the Activity of Visitation, it was possible to realize the importance of student interest prior to the decision to visit a stand. There were characterized types of interactions found in the stands as well as the objects used by exhibitors for the construction of the speech. These two elements allowed us to point out the differences in the duration of visits, and the combination of these determinants for attracting visitors to the stand and for their retaining. The identification of activities allowed the hierarchical construction of the Activity System, in which was observed as elements of Activities at lower levels were influenced by the transformed objects of the Activities of the upper levels. From the perspective of hierarchical levels of contradiction proposed by Engeström (1987), it was revealed the predominance of tertiary contradictions, those between the activities of a system, and primary contradictions, those that occur in an Activity element. As a contribution to the discussions for the Activity Theory, we propose four categories of contradictions that emerged from the event analysis: contradictions in the sphere of values conceptions; contradictions in the sphere of communication; contradictions of organizational character; and contradictions of political character

Em 2015, a revista Orpheu completou 100 anos, acontecimento que marcou o início do Modernismo em Portugal, um momento historicamente tão importante quanto a Semana de Arte Moderna de 1922, em São Paulo. A partir de então, as ideias modernistas foram se disseminando pelo espaço da língua portuguesa e por todas as áreas da cultura e das artes: poesia, pintura, arquitetura, escultura, música, teatro; nenhuma atividade artística ficou imune à tempestade inovadora. Formou-se assim uma rede de ideias e pessoas que se estendia num espaço expandido entre Paris, Lisboa e São Paulo, capaz de estabelecer um grande sistema de interlocuções entre três culturas bastante diferenciadas. A questão central colocada enfoca o significado social e cultural dessa rede e as consequências estéticas visíveis no fazer artístico de portugueses e brasileiros, nas três primeiras décadas do século XX. Nesse contexto, buscou-se, através de investigações em arquivos e análises comparativas, refletir sobre as propostas do Modernismo português, cotejando-as com aquelas do Modernismo brasileiro. Foi tomado como referencial de análise a revista Orpheu, em contraposição à revista paulista Klaxon, entre outras manifestações, como as exposições de arte e manifestos. A partir daí, formulou-se a hipótese de que, enquanto Orpheu provocou a emergência do Modernismo em Portugal, a revista Klaxon lançada em 1922 foi uma continuidade da Semana de Arte Moderna, mas também estabeleceu limites para o Modernismo brasileiro, antecipando-se ao \"retorno à ordem\". Tanto que algumas ideias esteticamente ousadas somente seriam adotadas no Brasil muito mais tarde, com as neovanguardas dos anos de 1950 e 1960, que retomou o primeiro Modernismo, resgatando principalmente os conceitos da Antropofagia oswaldiana. / 2015 was the 100th anniversary of the Portuguese literary magazine Orpheu, an event that marked the birth of Modernism in Portugal, a moment historically as important as the Modern Art Week of 1922 in São Paulo. From that point on, modernist ideas spread throughout the Portuguese language and through all areas of culture and the arts: poetry, painting, architecture, sculpture, music, theater. No artistic activity was immune to the innovative storm. This formed a network of ideas and people disseminated widely in the space between Paris, Lisbon and São Paulo, capable of establishing a great system of interlocutions between three culturally differentiated countries. The central question we pose is about the cultural significance of this network and the aesthetic consequences visible in the artistic activities in Portugal and Brazil in the first three decades of the twentieth century. In this context, we seek, through archival research and comparative analysis, to reflect on the proposals of Portuguese Modernism, comparing them with those of Brazilian Modernism. Orpheu magazine, analogous to the Klaxon magazine in São Paulo, both have great importance for the development of Modernism in each of these countries, among other expressions, such as manifestos and art exhibitions that also were part of the modernist movement, in Portugal and in the Brazil. The hypothesis formulated is that, while Orpheu was the beginning of Modernism in Portugal, Klaxon magazine was a continuation of the Modern Art Week, but also established limits for Brazilian Modernism, anticipating the \"return to order\". So much so, that some bolder ideas of historical vanguards would only be adopted in Brazil much later, with the neovanguards of the 1950s and 1960s.

Cette recherche porte sur l’impact des émotions sur les réponses des pilotes d’avion dans la gestion de situations dynamiques et ambiguës. A l’inverse des théories selon lesquelles les émotions dégradent les performances des pilotes, nous défendons la thèse selon laquelle les processus émotionnels ont une fonction adaptative et vont donc favoriser des réponses appropriées à la situation. Afin de vérifier cette hypothèse, des pilotes volontaires sont mis en situation de devoir gérer une fuite d’essence sur un simulateur de vol. Nous avons construit un scénario réaliste d’une durée d’une heure. Les pilotes ne sont donc pas confrontés à un problème ponctuel, s’apparentant à une situation de résolution de problèmes, mais doivent traiter l’anomalie de consommation d’essence pendant toute la durée du vol simulé. Ils ont donc la possibilité, en cours du vol, de corriger des choix qu’ils jugent inadaptés. Le relevé des fréquences cardiaques de chaque pilote pendant leur vol nous permet de repérer les épisodes émotionnels. Nous montrons que loin de dégrader les réponses des pilotes, les émotions sont positivement liées à la fois à leur expertise et à leurs performances : les pilotes ayant mis en œuvre les décisions les plus adaptées à la situation sont aussi ceux qui ont ressenti le plus d’émotions lors de la découverte et du traitement de la fuite d’essence. / This research centers on the impact of emotions on a pilot who's dealing with dynamic and/or ambiguous situations. Contrary to theories that state pilots' performances are diminished by emotions, we believe that an emotional process actually has an adaptive function which subsequently helps give appropriate answers to a given situation. To verify this hypothesis, volunteer pilots are confronted with having to deal with a fuel leakage on a flight simulator. We have built a realistic 1h long scenario. The pilots are not faced with a punctual situation, akin to problem solving, but have to treat the fuel consumption anomaly during the whole length of the flight simulation. Consequently they have the possibility, in flight, to recover inappropriate responses. The readings of the pilots' heartbeat allows us to identify the emotional episodes. We show that, far from diminishing the pilots' responses, emotions are linked positively not only to the pilots' expertise, but also their performances: The pilots who have devised the best responses to the situation are also those who've registered the most emotions whilst discovering and treating the fuel leakage.