WorldWideScience

Sample records for biography return return

  1. Returning home

    DEFF Research Database (Denmark)

    Agergaard, Jytte; Brøgger, Ditte

    2016-01-01

    flows. By focusing on these educational migrants, this paper explores how they connect to their rural homes. Guided by a critical reading of the migration-development scholarship, the paper examines how migrants and their relatives make sense of educational migrants’ remitting and returning practices......, and by comparing three groups of educational migrants, the migrants’ reasons for staying connected and sending remittances are scrutinized. The paper finds that although educational migrants do not generate extensive economic remittances for local development in Nepal, they stay connected to their rural homes...

  2. Gold Returns

    OpenAIRE

    Robert J. Barro; Sanjay P. Misra

    2013-01-01

    From 1836 to 2011, the average real rate of price change for gold in the United States is 1.1% per year and the standard deviation is 13.1%, implying a one-standard-deviation confidence band for the mean of (0.1%, 2.1%). The covariances of gold's real rate of price change with consumption and GDP growth rates are small and statistically insignificantly different from zero. These negligible covariances suggest that gold's expected real rate of return--which includes an unobserved dividend yiel...

  3. Product Return Handling

    OpenAIRE

    de Brito, M.P.; de Koster, M.B.M.

    2003-01-01

    textabstractIn this article we focus on product return handling and warehousing issues. In some businesses return rates can be well over 20% and returns can be especially costly when not handled properly. In spite of this, many managers have handled returns extemporarily. The fact that quantitative methods barely exist to support return handling decisions adds to this. In this article we bridge those issues by 1) going over the key decisions related with return handling; 2) identifying quanti...

  4. Why Returning to VET?

    Directory of Open Access Journals (Sweden)

    Erika Edith Gericke

    2017-11-01

    Full Text Available Educational choices, especially the influence of class on these choices have been a subject of lively international debate. However, thus far, there has been little international and comparative research with respect to vocational and education training (VET decision making from a subject-oriented perspective. This paper considers occupational-biographical orientations of English and German car mechatronics and focuses on the roles of learning and gaining vocational qualifications. Drawing on the concept of occupational-biographical orientations, the paper describes three types of orientations based on analyses of findings from 11 autobiographical-narrative interviews with English and German car mechatronics. The interviews clearly showed that occupational-biographical orientations explained different views on the necessity of returning to (continuous vocational education and training. They also demonstrated that subjective perceptions of the national VET system fostered particular occupational-biographical challenges, which supported or hindered existing learning attitudes. Overall, the findings suggested that occupational-biographical orientations exerted the most important influence on learning biographies and decisions to return to (continuous VET.

  5. Product Return Handling

    NARCIS (Netherlands)

    M.P. de Brito (Marisa); M.B.M. de Koster (René)

    2003-01-01

    textabstractIn this article we focus on product return handling and warehousing issues. In some businesses return rates can be well over 20% and returns can be especially costly when not handled properly. In spite of this, many managers have handled returns extemporarily. The fact that quantitative

  6. Predictability of Stock Returns

    Directory of Open Access Journals (Sweden)

    Ahmet Sekreter

    2017-06-01

    Full Text Available Predictability of stock returns has been shown by empirical studies over time. This article collects the most important theories on forecasting stock returns and investigates the factors that affecting behavior of the stocks’ prices and the market as a whole. Estimation of the factors and the way of estimation are the key issues of predictability of stock returns.

  7. Predictable return distributions

    DEFF Research Database (Denmark)

    Pedersen, Thomas Quistgaard

    This paper provides detailed insights into predictability of the entire stock and bond return distribution through the use of quantile regression. This allows us to examine speci…c parts of the return distribution such as the tails or the center, and for a suf…ciently …ne grid of quantiles we can...... trace out the entire distribution. A univariate quantile regression model is used to examine stock and bond return distributions individually, while a multivariate model is used to capture their joint distribution. An empirical analysis on US data shows that certain parts of the return distributions...... are predictable as a function of economic state variables. The results are, however, very different for stocks and bonds. The state variables primarily predict only location shifts in the stock return distribution, while they also predict changes in higher-order moments in the bond return distribution. Out...

  8. Classifying Returns as Extreme

    DEFF Research Database (Denmark)

    Christiansen, Charlotte

    2014-01-01

    I consider extreme returns for the stock and bond markets of 14 EU countries using two classification schemes: One, the univariate classification scheme from the previous literature that classifies extreme returns for each market separately, and two, a novel multivariate classification scheme...... that classifies extreme returns for several markets jointly. The new classification scheme holds about the same information as the old one, while demanding a shorter sample period. The new classification scheme is useful....

  9. The Reference Return Ratio

    DEFF Research Database (Denmark)

    Nicolaisen, Jeppe; Faber Frandsen, Tove

    2008-01-01

    The paper introduces a new journal impact measure called The Reference Return Ratio (3R). Unlike the traditional Journal Impact Factor (JIF), which is based on calculations of publications and citations, the new measure is based on calculations of bibliographic investments (references) and returns...

  10. Lidar 2009 - All Returns

    Data.gov (United States)

    Kansas Data Access and Support Center — LIDAR-derived binary (.las) files containing classified points of all returns. We have 3 classifications Unclassified, Ground, Low points. The average Ground Sample...

  11. Return to Bangka Island.

    Science.gov (United States)

    Spence, J

    2001-07-01

    This article is a return in a couple of ways to one of the most tragic events in the history of Australian military nursing. Firstly, it describes how the evacuation of nurses from Singapore in 1941 led to circumstances that resulted in the massacre or internment of many of those women. Then in 1993, a group of surviving World War II nurses and current serving Australian Army nurses returned to the site of their sorrow.

  12. Another return to "Return to Equilibrium"

    CERN Document Server

    Fröhlich, J

    2003-01-01

    The property of ``return to equilibrium'' is established for a class of quantum-mechanical models describing interactions of a (toy) atom with black-body radiation, or of a spin with a heat bath of scalar bosons, under the assumption that the interaction strength is sufficiently weak, but independent of temperature $T$, (with $0

  13. The Returns to Entrepreneurship

    DEFF Research Database (Denmark)

    Van Praag, Mirjam; Raknerud, Arvid

    Empirical studies show low pecuniary returns of switching from wage employment to entrepreneurship. We reconsider the pecuniary gains of this switching by employing a two-stage procedure, where the randomness in the timing of inheritance transfers is used as an exclusion restriction to identify...... causal effects. The model is estimated on data covering the whole Norwegian population of individuals matched to the entire population of firms established in the period 2002-2011. The results indicate that the average returns to entrepreneurship are significantly negative for individuals entering...... entrepreneurship through self-employment and modest, but significantly positive, for incorporated startups....

  14. Return to nucleate boiling

    International Nuclear Information System (INIS)

    Shumway, R.W.

    1985-01-01

    This paper presents a collection of TMIN (temperature of return to nucleate boiling) correlations, evaluates them under several conditions, and compares them with a wide range of data. Purpose is to obtain the best one for use in a water reactor safety computer simulator known as TRAC-B. Return to nucleate boiling can occur in a reactor accident at either high or low pressure and flow rates. Most of the correlations yield unrealistic results under some conditions. A new correlation is proposed which overcomes many of the deficiencies

  15. Plasma return current discharge

    International Nuclear Information System (INIS)

    Mangano, J.A.; Hsia, J.; Jacob, J.H.; Srivastava, B.N.

    1978-01-01

    A discharge technique based on the use of an electron-beam-induced plasma return current to produce and heat large-volume plasmas is described. The results of discharge studies using this technique in attachment-dominated mixtures are presented. The results are found to be adequately described by a simple theory. The electron attachment rate by F 2 inferred from these measurements agrees well with those of other workers. KrF laser action at 248 nm is reported in return-current discharge-excited mixtures of F 2 /Kr/He

  16. To return permanently or to return temporarily?: Explaining migrants' intentions

    NARCIS (Netherlands)

    Bilgili, Ö.; Siegel, M.

    2014-01-01

    This paper studies migrants' intentions to return to their origin country by making the distinction between permanent return, temporary return and participation in temporary return programmes. Using survey data from first generation migrants in the Netherlands, we explore how migrants' experiences

  17. Return to Play

    Science.gov (United States)

    Mangan, Marianne

    2013-01-01

    Call it physical activity, call it games, or call it play. Whatever its name, it's a place we all need to return to. In the physical education, recreation, and dance professions, we need to redesign programs to address the need for and want of play that is inherent in all of us.

  18. Higher Education Endowments Return

    Science.gov (United States)

    Bahlmann, David; Walda, John D.; Sedlacek, Verne O.

    2012-01-01

    A new study of endowments by the National Association of College and University Business Officers (NACUBO) and the Commonfund Institute has brought good news to college and universities: While endowment returns dropped precipitously in fiscal year 2009 as a result of the financial crisis and accompanying slide in equity markets, they climbed to an…

  19. Return telephone and telegraph

    International Nuclear Information System (INIS)

    1976-12-01

    This consists of eleven chapters, which are introduction on return of telephone, modulator and demodulator, transport mode like PCM, wave power for transportation, amplifier for transportation such as transistor, impedance, input-output circuit and voice telephone amplifier, circuit for transportation of telephone, line terminal equipment, standard for transportation, various telephone transport, basic telegraph transport and problems on circuit of transport of telephone.

  20. Return of qualified Sudanese

    Directory of Open Access Journals (Sweden)

    Lindsay T McMahon

    2007-07-01

    Full Text Available With the signing of the Comprehensive Peace Agreement in January 2005, the new Government of South Sudan began to call for the return of the millions of South Sudanese IDP s and refugees. The International Organization for Migration (IOM has developed a programme to help them do so.

  1. Sustainable Mars Sample Return

    Science.gov (United States)

    Alston, Christie; Hancock, Sean; Laub, Joshua; Perry, Christopher; Ash, Robert

    2011-01-01

    The proposed Mars sample return mission will be completed using natural Martian resources for the majority of its operations. The system uses the following technologies: In-Situ Propellant Production (ISPP), a methane-oxygen propelled Mars Ascent Vehicle (MAV), a carbon dioxide powered hopper, and a hydrogen fueled balloon system (large balloons and small weather balloons). The ISPP system will produce the hydrogen, methane, and oxygen using a Sabatier reactor. a water electrolysis cell, water extracted from the Martian surface, and carbon dioxide extracted from the Martian atmosphere. Indigenous hydrogen will fuel the balloon systems and locally-derived methane and oxygen will fuel the MAV for the return of a 50 kg sample to Earth. The ISPP system will have a production cycle of 800 days and the estimated overall mission length is 1355 days from Earth departure to return to low Earth orbit. Combining these advanced technologies will enable the proposed sample return mission to be executed with reduced initial launch mass and thus be more cost efficient. The successful completion of this mission will serve as the next step in the advancement of Mars exploration technology.

  2. Product return management

    DEFF Research Database (Denmark)

    Shaharudin, Mohd Rizaimy; Govindan, Kannan; Zailani, Suhaiza

    2017-01-01

    The aim of this study is to examine the extent to which product returns motivate manufacturing firms to adopt closed-loop supply chain activities that influence the effectiveness of reverse supply chains. The hypotheses have been tested using data from a sample of 150 environmental management...... system ISO 14001 certified manufacturing firms in Malaysia through the census sampling approach. The results of the empirical test using LISREL Version 8.70 for the structural equation modeling support the fundamental explanation of the influence of the institutional forces towards the adoption of closed......-loop supply chain activities and the effectiveness that can be reaped by the manufacturing firms from their adoption. These findings extend the prior research through the verification from the empirical survey on the importance of product returns in the adoption of closed-loop supply chain activities, which...

  3. Systemic Risk and Returns

    OpenAIRE

    Boman, Arthur Lee

    2013-01-01

    I solve a consumption based model, with interfirm systemic risk, for a portfolio optimization with arbitrary return distributions and endogenous stochastic discount factor (sdf). The model highlights a new systemic risk: systemic allocation risk. In contrast to the case without systemic risk, the market and planner allocate capital differently. The externality causes the planner to reduce investment in the risky firm. The market, modeled as a representative agent, does not just ignore the ext...

  4. The 'successful' return

    DEFF Research Database (Denmark)

    Olwig, Karen Fog

    2012-01-01

    Research on female migrant caregivers has tended to focus upon the emotional and social problems they encounter working abroad, given women’s traditional role as caregivers for their own families. This article analyses how Caribbean women who have returned after a period abroad as domestic workers...... inscribe their migration experiences within the gendered narrative of the good relative who migrates to help the family left behind and therefore deserves social recognition in the community of origin. It argues that this narrative allows the women to both affirm and reinterpret local family and gender...

  5. The Return to Foreign Aid

    DEFF Research Database (Denmark)

    Dalgaard, Carl-Johan Lars; Hansen, Henrik

    2017-01-01

    We estimate the average rate of return on investments financed by aid and by domestic resource mobilisation, using aggregate data. Both returns are expected to vary across countries and time. Consequently we develop a correlated random coefficients model to estimate the average returns. Across...... different estimators and two different data sources for GDP and investment our findings are remarkably robust; the average gross return on ‘aid investments’ is about 20 per cent. This is in accord with micro estimates of the economic rate of return on aid projects and with aggregate estimates of the rate...

  6. Return to space

    Science.gov (United States)

    1989-08-01

    This video documents the preparations for Shuttle Flight STS-26 with Shuttle Discovery, NASA's return to manned space flight after the Challenger disaster. Footage and descriptions document such changes to the new Shuttle as new joints, improved insulation, and added O-rings to the solid rocket boosters; new safety hardware and procedures such as parachute and sidewire evacuations during liftoff, and new pressure suits; modified landing gear, brakes, and nose wheel steering, as well as a modified landing runway. Also profiled are the 5 member crew of all veteran Shuttle astronauts, the TDRS 3 Satellite to be released from the cargo bay in orbit, and 11 commercial and student experiments to be performed during the mission.

  7. The return of religion

    Directory of Open Access Journals (Sweden)

    S. Griffioen

    2011-06-01

    Full Text Available Religion is back in Philosophy as a respectable subject. Part 1 first charts what MacIntyre, Taylor and Derrida have meant in this regard. Subsequently, it turns to the Enlightenment to determine what constituted the breakthrough. It is found that even where the Enlightenment gave maximum room to religion i.e. as a civic religion and as “religion of the heart” it still excluded a constitutive relation to a transcendent revelation. Part 2 centres on the religion-faith distinction in reformational philosophy. Similar to the Enlightenment, religion is understood as part of human nature. However, human nature itself is conceived as intrinsically religious and depending for its light on revelation. Secondly, “religion” in this context also encompasses idols and religious substitutes. Thus, it directs attention to shopping malls, football stadiums, health policy, et cetera, as possible contexts of a return of religion. Examples show that this has become a popular approach. However, most of the publications surveyed fail to distinguish between an “analogical” and a “pistically qualified” use of religion, and are open to exaggerations (the shopping mall and football stadiums as temples, etc.. At this junction, the relevance is shown of the religion-faith distinction as well as of Elaine Botha’s theory of metaphors. The epilogue offers an integration of parts one and two.

  8. Competition, Innovation and Increasing Returns

    OpenAIRE

    George B. Richardson

    1996-01-01

    This paper concerns the operation of competition in the presence of a high rate of innovation and increasing returns. Given free competition there is likely to exist, in this case, a tendency towards what may be called ‘dynamic equilibrium’, a tendency, that is to say, for the rate of investment in product development to rise or fall towards the level at which this investment yields only a normal return. Thus, competition, increasing returns and innovation may co-exist.

  9. PUC fast track nips returns

    International Nuclear Information System (INIS)

    Anon.

    1990-01-01

    In the first of what it says will be annual cost-of-capital proceedings to set returns on equity and rates of return on rate base for electric utilities, the California Public Utilities Commission (PUC) lowered from 1989 levels the 1990 returns on common equity (ROE) and rates of return (ROR) for the state's four major investor-owned electric utilities. Under this fast-track procedure, by May 8 of every year, utilities will have to file an application for rate adjustments that reflect their projected costs of capital for the following year

  10. The return to foreign aid

    DEFF Research Database (Denmark)

    Dalgaard, Carl-Johan Lars; Hansen, Henrik

    We investigate the marginal productivity of investment across countries. The aim is to estimate the return on investments financed by foreign aid and by domestic resource mobilization, using aggregate data. Both returns are expected to vary across countries and time. Consequently we develop...... a correlated random coefficients model, to estimate the average aggregate return on ‘aid investments’ and ‘domestic investments’. Across different estimators and two different sources for GDP and investment data our findings are remarkably robust; the average gross return on ‘aid investments’ is about 20 per...

  11. Measuring return to work.

    Science.gov (United States)

    Wasiak, Radoslaw; Young, Amanda E; Roessler, Richard T; McPherson, Kathryn M; van Poppel, Mireille N M; Anema, Johannes R

    2007-12-01

    It is argued that one of the factors limiting the understanding of return to work (RTW) following work disability is the use of measurement tools that do not capture a complete picture of workers' RTW experiences. To facilitate the investigation of RTW, the current authors proposed a developmental conceptualization of RTW, which argues for an expanded awareness that encompasses four phases: off work, work reintegration, work maintenance and advancement. This paper reports on work undertaken with the aim of operationalizing the conceptualization. A review of the RTW and related literature, with databases searched including PubMed, EconLit, and PsycInfo. We began by extracting details of RTW instruments used by previous researchers. We then interpreted these within the context of the phases of RTW. Using the International Classification of Functioning, Disability, and Health (ICF) to inform our thinking and coding structure, we conceptualized phase-based RTW outcomes and categorized them as 'tasks and actions', 'contextual' or 'process driven'. Iteratively, we reviewed existing instruments for their use as measures of RTW. Where gaps in instrumentation were found, the wider vocational and career assessment literature was searched for instruments that could be adapted for use in RTW research. Results indicate that, although numerous research instruments have been used to assess RTW, within the scientific literature some important dimensions of RTW lack instrumentation. In particular, we found that outcomes such as goal setting, motivation, expectation, job seeking, work maintenance, and career advancement require operationalization. Amongst the outcomes had been operationalized, we found considerable variation in conceptual development and application. The lack of consistency and comprehensiveness of RTW measurement is one of the factors compromising the advancement of the field of RTW research. It is suggested that a more complete and psychometrically sound array of

  12. 12 CFR 210.12 - Return of cash items and handling of returned checks.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 2 2010-01-01 2010-01-01 false Return of cash items and handling of returned... cash items and handling of returned checks. (a) Return of items—(1) Return of cash items handled by... shorter return time. (2) Return of checks not handled by Reserve Banks. A paying bank that receives a...

  13. Total anomalous pulmonary venous return

    Science.gov (United States)

    ... pulmonary venous return, x-ray References Fraser CD, Kane LC. Congenital heart disease. In: Townsend CM Jr, ... 62. Review Date 10/17/2017 Updated by: Michael A. Chen, MD, PhD, Associate Professor of Medicine, ...

  14. How to Organise Return Handling

    OpenAIRE

    de Koster, M.B.M.; van de Vendel, M.; de Brito, M.P.

    2001-01-01

    textabstractAlready for a long time retailers take back products. In this paper we explore the factors contributing to the decision of combining vs. separating inbound and outbound flows during the return handling process. We do so through a comparative analysis of the operations in nine retailer warehouses, which can be divided in three groups: food retailers, department stores and mail order companies. We identify both aggravating factors and facilitating actions for return handling. Furthe...

  15. Sealed Planetary Return Canister (SPRC), Phase I

    Data.gov (United States)

    National Aeronautics and Space Administration — Sample return missions have primary importance in future planetary missions. A basic requirement is that samples be returned in pristine, uncontaminated condition,...

  16. Sealed Planetary Return Canister (SPRC), Phase II

    Data.gov (United States)

    National Aeronautics and Space Administration — Sample return missions have primary importance in future planetary missions. A basic requirement is that samples be returned in pristine, uncontaminated condition,...

  17. Abnormal Returns and Contrarian Strategies

    Directory of Open Access Journals (Sweden)

    Ivana Dall'Agnol

    2003-12-01

    Full Text Available We test the hypothesis that strategies which are long on portfolios of looser stocks and short on portfolios of winner stocks generate abnormal returns in Brazil. This type of evidence for the US stock market was interpreted by The Bondt and Thaler (1985 as reflecting systematic evaluation mistakes caused by investors overreaction to news related to the firm performance. We found evidence of contrarian strategies profitability for horizons from 3 months to 3 years in a sample of stock returns from BOVESPA and SOMA from 1986 to 2000. The strategies are more profitable for shorter horizons. Therefore, there was no trace of the momentum effect found by Jagadeesh and Titman (1993 for the same horizons with US data. There are remaing unexplained positive returns for contrarian strategies after accounting for risk, size, and liquidity. We also found that the strategy profitability is reduced after the Real Plan, which suggests that the Brazilian stock market became more efficient after inflation stabilization.

  18. Dynamic returns of beta arbitrage

    OpenAIRE

    Nascimento, Mafalda

    2017-01-01

    This thesis studies the patterns of the abnormal returns of the beta strategy. The topic can be helpful for professional investors, who intend to achieve a better performance in their portfolios. Following the methodology of Lou, Polk, & Huang (2016), the COBAR measure is computed in order to determine the levels of beta arbitrage in the market in each point in time. It is argued that beta arbitrage activity can have impact on the returns of the beta strategy. In fact, it is demonstrated that...

  19. Sovereign Risk and Currency Returns

    DEFF Research Database (Denmark)

    Della Corte, Pasquale; Sarno, Lucio; Schmeling, Maik

    We empirically investigate the relation between sovereign risk and exchange rates for a broad set of currencies. An increase in the credit default swap (CDS) spread of a country is accompanied by a significant depreciation of the exchange rate. More generally, CDS spread changes have substantial...... explanatory power for currency returns which is largely driven by shocks to global credit risk. Consistent with the notion that sovereign risk is priced, we find that a country's exposure to global credit risk forecasts excess returns to trading exchange rates as well as to trading on the volatility, skewness...

  20. Sovereign Risk and Currently Returns

    DEFF Research Database (Denmark)

    Della Corte, Pasquale; Sarno, Lucio; Schmeling, Maik

    We empirically investigate the relation between sovereign risk and exchange rates for a broad set of currencies. An increase in the credit default swap (CDS) spread of a country is accompanied by a significant depreciation of the exchange rate. More generally, CDS spread changes have substantial...... explanatory power for currency returns which is largely driven by shocks to global credit risk. Consistent with the notion that sovereign risk is priced, we find that a country's exposure to global credit risk forecasts excess returns to trading exchange rates as well as to trading on the volatility, skewness...

  1. Return current instability in flares.

    Science.gov (United States)

    Cromwell, D.; McQuillan, P.; Brown, J. C.

    The authors consider the problem of ion-acoustic wave generation, and resultant anomalous Joule heating, by a return current driven unstable by a small-area thick-target electron beam in solar flares. They find that, contrary to the usual assumption, the hard X-ray bremsstrahlung emission may actually be enhanced in comparison to conventional thick-target models.

  2. Comet coma sample return instrument

    Science.gov (United States)

    Albee, A. L.; Brownlee, Don E.; Burnett, Donald S.; Tsou, Peter; Uesugi, K. T.

    1994-01-01

    The sample collection technology and instrument concept for the Sample of Comet Coma Earth Return Mission (SOCCER) are described. The scientific goals of this Flyby Sample Return are to return to coma dust and volatile samples from a known comet source, which will permit accurate elemental and isotopic measurements for thousands of individual solid particles and volatiles, detailed analysis of the dust structure, morphology, and mineralogy of the intact samples, and identification of the biogenic elements or compounds in the solid and volatile samples. Having these intact samples, morphologic, petrographic, and phase structural features can be determined. Information on dust particle size, shape, and density can be ascertained by analyzing penetration holes and tracks in the capture medium. Time and spatial data of dust capture will provide understanding of the flux dynamics of the coma and the jets. Additional information will include the identification of cosmic ray tracks in the cometary grains, which can provide a particle's process history and perhaps even the age of the comet. The measurements will be made with the same equipment used for studying micrometeorites for decades past; hence, the results can be directly compared without extrapolation or modification. The data will provide a powerful and direct technique for comparing the cometary samples with all known types of meteorites and interplanetary dust. This sample collection system will provide the first sample return from a specifically identified primitive body and will allow, for the first time, a direct method of matching meteoritic materials captured on Earth with known parent bodies.

  3. How to Organise Return Handling

    NARCIS (Netherlands)

    M.B.M. de Koster (René); M. van de Vendel; M.P. de Brito (Marisa)

    2001-01-01

    textabstractAlready for a long time retailers take back products. In this paper we explore the factors contributing to the decision of combining vs. separating inbound and outbound flows during the return handling process. We do so through a comparative analysis of the operations in nine retailer

  4. Phobos Sample Return: Next Approach

    Science.gov (United States)

    Zelenyi, Lev; Martynov, Maxim; Zakharov, Alexander; Korablev, Oleg; Ivanov, Alexey; Karabadzak, George

    The Martian moons still remain a mystery after numerous studies by Mars orbiting spacecraft. Their study cover three major topics related to (1) Solar system in general (formation and evolution, origin of planetary satellites, origin and evolution of life); (2) small bodies (captured asteroid, or remnants of Mars formation, or reaccreted Mars ejecta); (3) Mars (formation and evolution of Mars; Mars ejecta at the satellites). As reviewed by Galimov [2010] most of the above questions require the sample return from the Martian moon, while some (e.g. the characterization of the organic matter) could be also answered by in situ experiments. There is the possibility to obtain the sample of Mars material by sampling Phobos: following to Chappaz et al. [2012] a 200-g sample could contain 10-7 g of Mars surface material launched during the past 1 mln years, or 5*10-5 g of Mars material launched during the past 10 mln years, or 5*1010 individual particles from Mars, quantities suitable for accurate laboratory analyses. The studies of Phobos have been of high priority in the Russian program on planetary research for many years. Phobos-88 mission consisted of two spacecraft (Phobos-1, Phobos-2) and aimed the approach to Phobos at 50 m and remote studies, and also the release of small landers (long-living stations DAS). This mission implemented the program incompletely. It was returned information about the Martian environment and atmosphere. The next profect Phobos Sample Return (Phobos-Grunt) initially planned in early 2000 has been delayed several times owing to budget difficulties; the spacecraft failed to leave NEO in 2011. The recovery of the science goals of this mission and the delivery of the samples of Phobos to Earth remain of highest priority for Russian scientific community. The next Phobos SR mission named Boomerang was postponed following the ExoMars cooperation, but is considered the next in the line of planetary exploration, suitable for launch around 2022. A

  5. Uncertain Educational Returns in a Developing Economy

    Science.gov (United States)

    Mohapatra, Sandeep; Luckert, Martin K.

    2012-01-01

    This paper estimates the distribution of educational returns by gender for India. While previous studies focus on mean returns, the variance of educational returns has important implications for policy-making and micro-level decision making with respect to education. If the variance of educational returns is large, it can leave large sections of…

  6. Philopatry: A return to origins

    Science.gov (United States)

    Pearce, John M.

    2007-01-01

    The word “philopatry” is a combination of the prefix philo (from the Greekphilos, “beloved”) and the Latin patria, which means “fatherland” or “homeland.” Since the first English-language use of “philopatry” in an ornithological context by Huntington (1951), the term has been applied to two types of site-faithful behavior in birds. Closest to the etymological meaning is the first, “natal philopatry,” which means not dispersing far from, or returning to, a birthplace for reproduction. The second is “breeding philopatry,” which means returning to the same breeding area each year, though that area may not be an individual’s birth place (Shields 1982, Anderson et al. 1992). Therefore, any assessment of breeding philopatry likely includes some immigrant individuals, whereas assessments of natal philopatry include only locally hatched or born individuals.

  7. Returns to Education across Europe

    OpenAIRE

    Glocker, Daniela; Steiner, Viktor

    2011-01-01

    Incentives to invest in higher education are affected by both the direct wage effect of human capital investments and the indirect wage effect resulting from lower unemployment risks and shorter spells in unemployment associated with higher educated. We analyse the returns to education in Austria, Germany, Italy, Sweden and the United Kingdom, countries which differ significantly regarding both their education systems and labour market structure. We estimate augmented Mincerian wage equations...

  8. Financial Integration and Asset Returns

    OpenAIRE

    P Martin; H Rey

    2000-01-01

    The paper investigates the impact of financial integration on asset return, risk diversification and breadth of financial markets. We analyse a three-country macroeconomic model in which (i) the number of financial assets is endogenous; (ii) assets are imperfect substitutes; (iii) cross-border asset trade entails some transaction costs; (iv) the investment technology is indivisible. In such an environment, lower transaction costs between two financial markets translate to higher demand for as...

  9. Investment Taxes and Equity Returns

    OpenAIRE

    Clemens Sialm

    2006-01-01

    This paper investigates whether investors are compensated for the tax burden of equity securities. Effective tax rates on equity securities vary due to frequent tax reforms and due to persistent differences in propensities to pay dividends. The paper finds an economically and statistically significant relationship between risk-adjusted stock returns and effective personal tax rates using a new data set covering tax burdens on a cross-section of equity securities between 1927 and 2004. Consist...

  10. Tick size and stock returns

    Science.gov (United States)

    Onnela, Jukka-Pekka; Töyli, Juuso; Kaski, Kimmo

    2009-02-01

    Tick size is an important aspect of the micro-structural level organization of financial markets. It is the smallest institutionally allowed price increment, has a direct bearing on the bid-ask spread, influences the strategy of trading order placement in electronic markets, affects the price formation mechanism, and appears to be related to the long-term memory of volatility clustering. In this paper we investigate the impact of tick size on stock returns. We start with a simple simulation to demonstrate how continuous returns become distorted after confining the price to a discrete grid governed by the tick size. We then move on to a novel experimental set-up that combines decimalization pilot programs and cross-listed stocks in New York and Toronto. This allows us to observe a set of stocks traded simultaneously under two different ticks while holding all security-specific characteristics fixed. We then study the normality of the return distributions and carry out fits to the chosen distribution models. Our empirical findings are somewhat mixed and in some cases appear to challenge the simulation results.

  11. Explaining Returns with Cash-Flow Proxies

    OpenAIRE

    Peter Hecht; Tuomo Vuolteenaho

    2005-01-01

    Stock returns are correlated with contemporaneous earnings growth, dividend growth, future real activity, and other cash-flow proxies. The correlation between cash-flow proxies and stock returns may arise from association of cash-flow proxies with one-period expected returns, cash-flow news, and/or expected-return news. We use Campbell's (1991) return decomposition to measure the relative importance of these three effects in regressions of returns on cash-flow proxies. In some of the popular ...

  12. Returning to sports after a back injury

    Science.gov (United States)

    ... medlineplus.gov/ency/patientinstructions/000518.htm Returning to sports after a back injury To use the sharing ... Back pain - returning to sports Which Type of Sport is Best? In deciding when and if to ...

  13. Returns to Tenure or Seniority?

    DEFF Research Database (Denmark)

    Buhai, Ioan Sebastian; Portela, Miguel; Teulings, Coen

      This study documents two empirical regularities, using data for Denmark and Portugal. First, workers who are hired last, are the first to leave the firm (Last In, First Out; LIFO). Second, workers' wages rise with seniority (= a Worker's tenure relative to the tenure of her colleagues). We seek...... at the moment of separation). The LIFO rule provides a stronger bargaining position for senior workers, leading to a return to seniority in wages. Efficiency in hiring requires the workers' .bargaining power to be in line with their share in the cost of specific investment. Then, the LIFO rule is a way...

  14. 7 CFR 356.8 - Return procedure.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 5 2010-01-01 2010-01-01 false Return procedure. 356.8 Section 356.8 Agriculture Regulations of the Department of Agriculture (Continued) ANIMAL AND PLANT HEALTH INSPECTION SERVICE, DEPARTMENT OF AGRICULTURE FORFEITURE PROCEDURES § 356.8 Return procedure. If, at the conclusion of proceedings, seized property is to be returned to the...

  15. The Zodiac Calendar and Equity Factor Returns

    NARCIS (Netherlands)

    J. Phoeng (Janice); L.A.P. Swinkels (Laurens)

    2016-01-01

    textabstractWe calculate the returns for four well-known equity factor returns, the market, size, value, and momentum, for each Zodiac calendar year from 1926 to 2015. We find that point estimates of average returns for each Zodiac sign can be substantially different. However, when we employ

  16. Common Factors in International Bond Returns

    NARCIS (Netherlands)

    Driessen, J.J.A.G.; Melenberg, B.; Nijman, T.E.

    2000-01-01

    In this paper we estimate and interpret the factors that jointly determine bond returns of different maturities in the US, Germany and Japan.We analyze both currency-hedged and unhedged bond returns.For currency-hedged bond returns, we find that five factors explain 96.5% of the variation of bond

  17. Foreign currency returns and systematic risks

    NARCIS (Netherlands)

    Galsband, V.; Nitschka, T.

    2015-01-01

    We apply an empirical approximation of the intertemporal capital asset pricing model (ICAPM) to show that cross-sectional dispersion in currency returns can be rationalized by differences in currency excess returns' sensitivities to the market return's cash-flow news component. This finding echoes

  18. Return to sport following amputation.

    Science.gov (United States)

    Matthews, D; Sukeik, M; Haddad, F

    2014-08-01

    Amputation in athletes has a substantial impact on lifestyle and sporting activity, as well as self-perception and quality of life. The impact of limb loss on athletic ability will vary depending on the cause of amputation and the anatomical location of the amputation. The use of sporting activity for rehabilitation of amputees was first introduced in 1944 at Stoke Mandeville Hospital. The first international paralympic games were founded in 1960. Following these events the opportunity to participate in sport following limb loss has increased significantly. Sport participation has been aided by the development of sporting prostheses, however multiple factors will determine the exact prosthesis used. These include the nature of the sporting activity as well as the level of the amputation. The biomechanics involved in walking and running are altered following the loss of a limb or part thereof. This can cause subsequent degenerative changes within the remaining joints on the amputated limb as well as the contralateral limb. Factors affecting return to sporting activity are multivariate and inter-related, including patient factors, surgical factors, nature and level of the sporting activity and prosthetic factors. The authors review current literature, detail predictive factors of return to sport and the physical and psychosocial impact on patients following limb amputation.

  19. The dynamics of health and return migration.

    Directory of Open Access Journals (Sweden)

    Anita A Davies

    2011-06-01

    Full Text Available The increasing importance and complexity of migration globally also implies a global increase in return migration, and thus an increased interest in the health of returning migrants. The health of returning migrants is impacted by the cumulative exposure to social determinants and risk factors of health during the migration process, during the return movement, and following return. Circular migration often occurs among the diaspora, which can result in the transfer of knowledge and skills that contribute to development, including health system strengthening. Migrants with dual nationality often return to countries with better health services than their country of origin when they are sick and can not get care at home. To maintain and improve the health of returning migrants, multi-sectoral policies at global and national levels should facilitate access to appropriate and equitable health services, social services, and continuity of care across and within borders.

  20. Stock return comovement and Korean business groups

    Directory of Open Access Journals (Sweden)

    Chan Ho Cho

    2015-12-01

    Full Text Available This paper explores whether business group affiliations affect the covariance structure of stock returns in Korea. We find that the stock returns of firms belonging to the same business group show positive and significant comovement. The strong comovement between group returns and firm returns is explained by correlated fundamentals. We find strong comovement among business group affiliate earnings. Moreover, variance decomposition of returns shows that cash flow news plays a relatively more important role in explaining group comovement than discount rate news, suggesting a link between stock return comovement and the “tunneling” and “propping” behaviors of business groups. Finally, return comovement increases when a firm joins a business group.

  1. 76 FR 22611 - Specified Tax Return Preparers Required To File Individual Income Tax Returns Using Magnetic...

    Science.gov (United States)

    2011-04-22

    ... Specified Tax Return Preparers Required To File Individual Income Tax Returns Using Magnetic Media... Register on Wednesday, March 30, 2011 (76 FR 17521) providing guidance to specified tax return preparers who prepare and file individual income tax returns using magnetic media pursuant to section 6011(e)(3...

  2. 27 CFR 479.151 - Failure to make returns: Substitute returns.

    Science.gov (United States)

    2010-04-01

    ... DEVICES, AND CERTAIN OTHER FIREARMS Examination of Books and Records § 479.151 Failure to make returns... return within the time prescribed by this part or designated by the Director, then the return shall be made by an ATF officer upon inspection of the books, but the making of such return by an ATF officer...

  3. Interday drifts in opening stock returns

    OpenAIRE

    Andrey KUDRYAVTSEV

    2013-01-01

    In present study, I make an effort to shed light on the actual mechanism of autocorrelations in individual stocks' opening returns. I analyze intraday price data on thirty stocks currently making up the Dow Jones Industrial Index. Employing the sample average and the sample median of opening stock returns for each of the trading days within the sample period as two alternative proxies for the general market opening returns, I document that if the previous day's market and individual stock's o...

  4. Return to Sport After Tibial Shaft Fractures

    OpenAIRE

    Robertson, Greg A. J.; Wood, Alexander M.

    2015-01-01

    Context: Acute tibial shaft fractures represent one of the most severe injuries in sports. Return rates and return-to-sport times after these injuries are limited, particularly with regard to the outcomes of different treatment methods. Objective: To determine the current evidence for the treatment of and return to sport after tibial shaft fractures. Data Sources: OVID/MEDLINE (PubMed), EMBASE, CINAHL, Cochrane Collaboration Database, Web of Science, PEDro, SPORTDiscus, Scopus, and Google Sch...

  5. Analysis of medications returned to community pharmacies.

    Science.gov (United States)

    James, Tess H; Helms, Margaret L; Braund, Rhiannon

    2009-10-01

    There are many causes of medication waste, including excess supply, treatment changes, and patient nonadherence to therapy. Investigating medication returns may indicate areas for targeting interventions to reduce waste. To identify and quantify the types and amounts of medications returned to community pharmacies and, specifically, to quantify the percentage of medication returned from the original dispensing, its therapeutic category, and reasons for not being used. Unsolicited medication returned for disposal to the 24 community pharmacies in the Taranaki region (approximately 37,000 households) of New Zealand over a 6-week period was analyzed. The results were entered into a database, recording medication, amount originally issued (if known), date of issue, Anatomical Therapeutic Chemical (ATC) classification, and reason for nonuse. Cross-tabulation of ATC category versus percentage returned as well as ATC category versus reason for returns was performed. Adjusted standardized residuals were investigated to determine specific cells that were in excess of the expected counts. Complete information was available for 2704 items. The majority (51%) of returns contained 75-100% of the original dispensed amount of medication. For the respiratory category, 77% of the returns were in the 75-100% group, significantly more than for any other therapeutic group. Reasons for returns were recorded as bereavement (22%), surplus to requirements (17%), expired (8%), medication change (11%), dose change (3%), and unknown (39%). The cardiovascular group and respiratory groups had a higher rate of returned drugs due to medication changes and surplus to requirements, respectively. The majority of returned medications contained greater than 75% of the original amount issued. Identification of therapeutic groups having higher rates of returns due to medication changes or surplus to requirements may suggest areas to target to reduce medication waste.

  6. Maximizing your return on people.

    Science.gov (United States)

    Bassi, Laurie; McMurrer, Daniel

    2007-03-01

    Though most traditional HR performance metrics don't predict organizational performance, alternatives simply have not existed--until now. During the past ten years, researchers Laurie Bassi and Daniel McMurrer have worked to develop a system that allows executives to assess human capital management (HCM) and to use those metrics both to predict organizational performance and to guide organizations' investments in people. The new framework is based on a core set of HCM drivers that fall into five major categories: leadership practices, employee engagement, knowledge accessibility, workforce optimization, and organizational learning capacity. By employing rigorously designed surveys to score a company on the range of HCM practices across the five categories, it's possible to benchmark organizational HCM capabilities, identify HCM strengths and weaknesses, and link improvements or back-sliding in specific HCM practices with improvements or shortcomings in organizational performance. The process requires determining a "maturity" score for each practice, based on a scale of 1 (low) to 5 (high). Over time, evolving maturity scores from multiple surveys can reveal progress in each of the HCM practices and help a company decide where to focus improvement efforts that will have a direct impact on performance. The authors draw from their work with American Standard, South Carolina's Beaufort County School District, and a bevy of financial firms to show how improving HCM scores led to increased sales, safety, academic test scores, and stock returns. Bassi and McMurrer urge HR departments to move beyond the usual metrics and begin using HCM measurement tools to gauge how well people are managed and developed throughout the organization. In this new role, according to the authors, HR can take on strategic responsibility and ensure that superior human capital management becomes central to the organization's culture.

  7. Expected Stock Returns and Variance Risk Premia

    DEFF Research Database (Denmark)

    Bollerslev, Tim; Tauchen, George; Zhou, Hao

    of the time series variation in post 1990 aggregate stock market returns, with high (low) premia predicting high (low) future returns. Our empirical results depend crucially on the use of "model-free," as opposed to Black- Scholes, options implied volatilities, along with accurate realized variation measures...

  8. A Perishable Inventory Model with Return

    Science.gov (United States)

    Setiawan, S. W.; Lesmono, D.; Limansyah, T.

    2018-04-01

    In this paper, we develop a mathematical model for a perishable inventory with return by assuming deterministic demand and inventory dependent demand. By inventory dependent demand, it means that demand at certain time depends on the available inventory at that time with certain rate. In dealing with perishable items, we should consider deteriorating rate factor that corresponds to the decreasing quality of goods. There are also costs involved in this model such as purchasing, ordering, holding, shortage (backordering) and returning costs. These costs compose the total costs in the model that we want to minimize. In the model we seek for the optimal return time and order quantity. We assume that after some period of time, called return time, perishable items can be returned to the supplier at some returning costs. The supplier will then replace them in the next delivery. Some numerical experiments are given to illustrate our model and sensitivity analysis is performed as well. We found that as the deteriorating rate increases, returning time becomes shorter, the optimal order quantity and total cost increases. When considering the inventory-dependent demand factor, we found that as this factor increases, assuming a certain deteriorating rate, returning time becomes shorter, optimal order quantity becomes larger and the total cost increases.

  9. Return to Experience and Initial Wage Level

    DEFF Research Database (Denmark)

    Sørensen, Kenneth Lykke; Vejlin, Rune Majlund

    This paper estimates the relationship between initial wage and return to experience. We use a Mincer-like wage model to nonparametrically estimate this relationship allowing for an unobservable individual permanent effect in wages and unobservable individual return to experience. The relationship...

  10. Return to experience and initial wage level

    DEFF Research Database (Denmark)

    Sørensen, K.L.; Vejlin, R.

    2014-01-01

    This paper estimates the relationship between initial wage and return to experience. We use a Mincer-like wage model to non-parametrically estimate this relationship allowing for an unobservable individual permanent effect in wages and unobservable individual return to experience. The relationshi...

  11. Return to the workforce following infective endocarditis

    DEFF Research Database (Denmark)

    Butt, Jawad H.; Kragholm, Kristian; Dalager-Pedersen, Michael

    2018-01-01

    Background The ability to return to work after infective endocarditis (IE) holds important socioeconomic consequences for both patients and society, yet data on this issue are sparse. We examined return to the workforce and associated factors in IE patients of working age. Methods Using Danish...

  12. LITTERFALL AND NUTRIENT RETURNS IN ISOLATED STANDS ...

    African Journals Online (AJOL)

    Dr Osondu

    area has implications in returning nutrient elements to the soils of the rainforest ecosystem. Keywords: Litterfall, Nutrient returns, Seasonal variation, Southern Nigeria, Terminalia catappa, Tropical rainforest. Introduction. In the tropical rainforests, plants and soils are in equilibrium involving an almost closed cycling.

  13. Social return bij inkoop door gemeenten

    NARCIS (Netherlands)

    Brouwer, P.; Smit, A.

    2011-01-01

    Social return is sterk in opkomst. De rijksoverheid heeft besloten om met ingang van 1 juli 2011 bij inkopen en aanbestedingen ‘social return’ als contractvoorwaarde op te nemen. Het Brabants Expertisecentrum Socialer Ondernemen (BESO) bracht in dezelfde periode de handleiding ‘Social return bij

  14. Predictability of Returns and Cash Flows

    OpenAIRE

    Ralph S.J. Koijen; Stijn Van Nieuwerburgh

    2010-01-01

    We review the literature on return and cash-flow growth predictability from the perspective of the present-value identity. We focus predominantly on recent work. Our emphasis is on U.S. aggregate stock return predictability, but we also discuss evidence from other asset classes and countries.

  15. Aggregate Unemployment Decreases Individual Returns to Education

    Science.gov (United States)

    Ammermueller, Andreas; Kuckulenz, Anja; Zwick, Thomas

    2009-01-01

    Aggregate unemployment may affect individual returns to education through qualification-specific responses in participation and wage bargaining. This paper shows that an increase in regional unemployment by 1% decreases returns to education by 0.005 percentage points. This implies that higher skilled employees are better sheltered from labour…

  16. Economic and accounting rates of return

    NARCIS (Netherlands)

    Feenstra, D.W.; Wang, H.

    2000-01-01

    The rate of return on invested capital is a central concept in financial analysis. The purpose of calculating the rate of return on investment in general is to measure the financial performance, to assess the desirability of a project and to make decisions on the valuation of firms. Financial

  17. Returnable containers: an example of reverse logistics

    NARCIS (Netherlands)

    L.G. Kroon (Leo); G.M.C. Vrijens

    1996-01-01

    textabstractConsiders the application of returnable containers as an example of reverse logistics. A returnable container is a type of secondary packaging that can be used several times in the same form, in contrast with traditional cardboard boxes. For this equipment to be used, a system for the

  18. The Returns to Quality in Graduate Education

    Science.gov (United States)

    Stevenson, Adam

    2016-01-01

    This paper estimates the monetary return to quality in US graduate education, controlling for cognitive ability and self-selection across award level, program quality, and field-of-study. In most program types, I cannot reject the hypothesis of no returns to either degree completion or program quality. Important exceptions include master's…

  19. Displacement and the outdoors: a return journey

    Directory of Open Access Journals (Sweden)

    Sylvia Molloy

    2015-12-01

    Full Text Available The present paper reflects on the return narratives and the condition of the returner, as the author names it, in the context of modern cultural migrations. In order to do so, the text analyzes the relation between a personal memory narrated in Varia imaginación and the essay about fictional texts by other writers –especially Argentinian ones.

  20. Husbands' return migration and wives' occupational choices

    NARCIS (Netherlands)

    Mahe, Clotilde

    2017-01-01

    Exploiting the documented effect of migration on occupational choice upon return to their origin country with data from Egypt, we establish a link between return migration of men and their wives' time use through within-couple occupational interdependence. Seemingly Unrelated Regression model

  1. Poetic Return in Afghanistan Persian Poem

    Directory of Open Access Journals (Sweden)

    Esmaeil Shafagh

    2012-11-01

    Full Text Available Abstract Poetic return movement was started by a group of poets like Moshtagh and Shole Esfehani in the second half of 12 century. Their goal was restoring Persian poem and deliverance of Hindi style decline. Esfahan’s poets initiative was considered only in Iran but in other Persian language and literature areas like India, Afghanistan and Transoxiana it was ignored. After the failure of constitutional Movement in Afghanistan, motion similar poetic return was happened that caused poetic themes, which had gone towards modernism, return to Hindi style again.The present paper attempts to analyze the poetic atmosphere in Afghanistan synchronous the poetic return movement in Iran and investigate socio- political backgrounds of return to Hindi style in Afghanistan after constitution failure.

  2. 75 FR 76940 - Specified Tax Return Preparers Required To File Individual Income Tax Returns Using Magnetic...

    Science.gov (United States)

    2010-12-10

    ... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Parts 1 and 301 [REG-100194-10] RIN 1545-BJ52 Specified Tax Return Preparers Required To File Individual Income Tax Returns Using Magnetic... for ``specified tax return prepares,''. FOR FURTHER INFORMATION CONTACT: Keith L. Brau at (202) 622...

  3. The return trip effect: why the return trip often seems to take less time.

    Science.gov (United States)

    van de Ven, Niels; van Rijswijk, Leon; Roy, Michael M

    2011-10-01

    Three studies confirm the existence of the return trip effect: The return trip often seems shorter than the initial trip, even though the distance traveled and the actual time spent traveling are identical. A pretest shows that people indeed experience a return trip effect regularly, and the effect was found on a bus trip (Study 1), a bicycle trip (Study 2), and when participants watched a video of someone else traveling (Study 3). The return trip effect also existed when another, equidistant route was taken on the return trip, showing that it is not familiarity with the route that causes this effect. Rather, it seems that a violation of expectations causes this effect.

  4. Effectiveness of Securities with Fuzzy Probabilistic Return

    Directory of Open Access Journals (Sweden)

    Krzysztof Piasecki

    2011-01-01

    Full Text Available The generalized fuzzy present value of a security is defined here as fuzzy valued utility of cash flow. The generalized fuzzy present value cannot depend on the value of future cash flow. There exists such a generalized fuzzy present value which is not a fuzzy present value in the sense given by some authors. If the present value is a fuzzy number and the future value is a random one, then the return rate is given as a probabilistic fuzzy subset on a real line. This kind of return rate is called a fuzzy probabilistic return. The main goal of this paper is to derive the family of effective securities with fuzzy probabilistic return. Achieving this goal requires the study of the basic parameters characterizing fuzzy probabilistic return. Therefore, fuzzy expected value and variance are determined for this case of return. These results are a starting point for constructing a three-dimensional image. The set of effective securities is introduced as the Pareto optimal set determined by the maximization of the expected return rate and minimization of the variance. Finally, the set of effective securities is distinguished as a fuzzy set. These results are obtained without the assumption that the distribution of future values is Gaussian. (original abstract

  5. Utility allowed returns and market extremes

    International Nuclear Information System (INIS)

    Murry, D.A.; Nan, G.D.; Harrington, B.M.

    1993-01-01

    In recent years interest rates have fluctuated from exceptionally high levels in the early 1980s to their current levels, the lowest in two decades. Observers and analysts generally have assumed that allowed returns by regulatory commissions follow the movement of interest rates; indeed some analysts use a risk premium method to estimate the cost of common equity, assuming a constant and linear relationship between interest rates and the cost of common equity. That suggests we could expect a relatively stable relationship between interest rates and allowed returns, as well. However, a simple comparison of allowed returns and interest rates shows that this is not the case in recent years. The relationship between market interest rates and the returns allowed by commissions varies and is obviously a great deal more complicated. Empirically, there appears to be only a narrow range where market interest rates significantly affect the allowed returns on common stock set by state commissions, at least for electric and combination utilities. If rates are at historically low levels, allowed returns based largely on market rates will hasten subsequent rate filings, and commissions appear to look beyond the low rate levels. Conversely, it appears that regulators do not let historically high market rates determine allowed returns either. At either high or low interest levels, caution seems to be the policy

  6. Return to sports after shoulder arthroplasty

    Science.gov (United States)

    Johnson, Christine C; Johnson, Daniel J; Liu, Joseph N; Dines, Joshua S; Dines, David M; Gulotta, Lawrence V; Garcia, Grant H

    2016-01-01

    Many patients prioritize the ability to return to sports following shoulder replacement surgeries, including total shoulder arthroplasty (TSA), reverse total shoulder arthroplasty (RTSA), and hemiarthroplasty (HA). While activity levels after hip and knee replacements have been well-established in the literature, studies on this topic in the field of shoulder arthroplasty are relatively limited. A review of the literature regarding athletic activity after shoulder arthroplasty was performed using the PubMed database. All studies relevant to shoulder arthroplasty and return to sport were included. The majority of patients returned to their prior level of activity within six months following TSA, RTSA, and shoulder HA. Noncontact, low demand activities are permitted by most surgeons postoperatively and generally have higher return rates than contact sports or high-demand activities. In some series, patients reported an improvement in their ability to participate in sports following the arthroplasty procedure. The rates of return to sports following TSA (75%-100%) are slightly higher than those reported for HA (67%-76%) and RTSA (75%-85%). Patients undergoing TSA, RTSA, and shoulder HA should be counseled that there is a high probability that they will be able to return to their preoperative activity level within six months postoperatively. TSA has been associated with higher rates of return to sports than RTSA and HA, although this may reflect differences in patient population or surgical indication. PMID:27672564

  7. Stock return distribution in the BRICS

    Directory of Open Access Journals (Sweden)

    George Adu

    2015-12-01

    Full Text Available Stock returns in emerging market economies exhibit patterns that are distinctively different from developed countries: returns are noted to be highly volatile and autocorrelated, and long horizon returns are predictable. While these stylized facts are well established, the assumption underlying the distribution of returns is less understood. In particular, the empirical literature continues to rely on the normality assumption as a starting point, and most asset pricing models tend to overstretch this point. This paper questions the rationale behind this supposition and proceeds to test more formally for normality using multivariate joint test for skewness and kurtosis. Additionally, the paper extends the literature by examining a number of empirical regularities for Brazil, Russia, India, China and South Africa (the BRICS for short. Our main findings are that the distribution of stock returns for the BRICS exhibits peakedness with fatter and longer tails, and this is invariant to both the unit of measurement and the time horizon of returns. Volatility clustering is prevalent in all markets, and this decays exponentially for all but Brazil. The relationship between risk and return is found to be significant and risk premiums are prevalent in our sample.

  8. Integrating Public Perspectives in Sample Return Planning

    Science.gov (United States)

    Race, Margaret S.; MacGregor, G.

    2001-01-01

    Planning for extraterrestrial sample returns, whether from Mars or other solar system bodies, must be done in a way that integrates planetary protection concerns with the usual mission technical and scientific considerations. Understanding and addressing legitimate societal concerns about the possible risks of sample return will be a critical part of the public decision making process ahead. This paper presents the results of two studies, one with lay audiences, the other with expert microbiologists, designed to gather information, on attitudes and concerns about sample return risks and planetary protection. Focus group interviews with lay subjects, using generic information about Mars sample return and a preliminary environmental impact assessment, were designed to obtain an indication of how the factual content is perceived and understood by the public. A research survey of microbiologists gathered information on experts' views and attitudes about sample return, risk management approaches and space exploration risks. These findings, combined with earlier research results on risk perception, will be useful in identifying levels of concern and potential conflicts in understanding between experts and the public about sample return risks. The information will be helpful in guiding development of the environmental impact statement and also has applicability to proposals for sample return from other solar system bodies where scientific uncertainty about extraterrestrial life may persist at the time of mission planning.

  9. Oil Volatility Risk and Expected Stock Returns

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average...... return between the quintile of stocks with low exposure and high exposure to oil volatility is significant at 0.66% per month, and oil volatility risk carries a significant risk premium of -0.60% per month. In the post-financialization period, oil volatility risk is strongly related with various measures...

  10. Oil Volatility Risk and Expected Stock Returns

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Pan, Xuhui (Nick)

    After the financialization of commodity futures markets in 2004-05 oil volatility has become a strong predictor of returns and volatility of the overall stock market. Furthermore, stocks' exposure to oil volatility risk now drives the cross-section of expected returns. The difference in average...... return between the quintile of stocks with low exposure and high exposure to oil volatility is significant at 0.66% per month, and oil volatility risk carries a significant risk premium of -0.60% per month. In the post-financialization period, oil volatility risk is strongly related with various measures...... of funding liquidity constraints suggesting an economic channel for the effect....

  11. Return Predictability, Model Uncertainty, and Robust Investment

    DEFF Research Database (Denmark)

    Lukas, Manuel

    Stock return predictability is subject to great uncertainty. In this paper we use the model confidence set approach to quantify uncertainty about expected utility from investment, accounting for potential return predictability. For monthly US data and six representative return prediction models, we...... find that confidence sets are very wide, change significantly with the predictor variables, and frequently include expected utilities for which the investor prefers not to invest. The latter motivates a robust investment strategy maximizing the minimal element of the confidence set. The robust investor...... allocates a much lower share of wealth to stocks compared to a standard investor....

  12. Sample Return Systems for Extreme Environments

    Data.gov (United States)

    National Aeronautics and Space Administration — In Phase I we were able to demonstrate that sample return missions utilizing high velocity penetrators (0.1- 1 km/s) could provide substantial new capabilities for...

  13. Fluctuation behaviors of financial return volatility duration

    Science.gov (United States)

    Niu, Hongli; Wang, Jun; Lu, Yunfan

    2016-04-01

    It is of significantly crucial to understand the return volatility of financial markets because it helps to quantify the investment risk, optimize the portfolio, and provide a key input of option pricing models. The characteristics of isolated high volatility events above certain threshold in price fluctuations and the distributions of return intervals between these events arouse great interest in financial research. In the present work, we introduce a new concept of daily return volatility duration, which is defined as the shortest passage time when the future volatility intensity is above or below the current volatility intensity (without predefining a threshold). The statistical properties of the daily return volatility durations for seven representative stock indices from the world financial markets are investigated. Some useful and interesting empirical results of these volatility duration series about the probability distributions, memory effects and multifractal properties are obtained. These results also show that the proposed stock volatility series analysis is a meaningful and beneficial trial.

  14. Simulation of investment returns of toll projects.

    Science.gov (United States)

    2013-08-01

    This research develops a methodological framework to illustrate key stages in applying the simulation of investment returns of toll projects, acting as an example process of helping agencies conduct numerical risk analysis by taking certain uncertain...

  15. DESIGNING THE RETURN MIGRATION OF ROMANIAN STUDENTS

    Directory of Open Access Journals (Sweden)

    Magdalena VELCIU

    2017-05-01

    Full Text Available Romanian youth migration is an increasing phenomenon, due to subjective and objective factors as economical reasons, professional carrer and increasingly more international competition for talent. In these circumstances, the present article aims to evaluate determinant factors that contribute to the decision of Romanian graduates to return national labour market. We sustain that young Romanians consider carefully and hardly decide their professional future. A particular attention is given to their personal reasons and motivations as well as family and friends network. For designing returning factors we present the results of a questionnaire survey, asking young pupils and students about their future educational way and personal reasons underlying the decision to study in a foreign country and taking into consideration the returning decision. As far international student migration is seen as a first step to migration for work, our work desires to fight for returning home of Romanian well-educated graduates.

  16. Sample Return Systems for Extreme Environments

    Data.gov (United States)

    National Aeronautics and Space Administration — The proposed work seeks to design, develop and test a hard impact penetrator/sampler that can withstand the hard impact and enable the sample to be returned to...

  17. Are fund of hedge fund returns asymmetric?

    OpenAIRE

    Lynch, Margaret; Hutson, Elaine; Stevenson, Max

    2004-01-01

    We examine the return distributions of 332 funds of hedge funds and associated indices. Over half of the sample is significantly skewed according to the skewness statistic, and these are split 50/50 positive and negative. However, we argue that the skewness statistic can lead to erroneous inferences regarding the nature of the return distribution, because the test statistic is based on the normal distribution. Using a series of tests that make minimal assumptions about the shape of the ...

  18. Job Training: Costs, Returns, and Wage Profiles

    OpenAIRE

    Jacob Mincer

    1989-01-01

    Using information on time costs of training and gains in wages attributable to training I computed rates of return on training investments. The range of estimates based on several data sets generally exceeds the magnitudes of rates of return usually observed for schooling investments. It is not clear, however, that the difference represents underinvestment in job training. Two methods were used to estimate total annual costs of job training in the U.S. economy, for 1958, 1976, and 1987. The "...

  19. 49 CFR 1152.34 - Return on investment.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 8 2010-10-01 2010-10-01 false Return on investment. 1152.34 Section 1152.34... Return on investment. Return on investment for road property shall be computed according to the procedures set forth in this section. (a)-(b) [Reserved] (c) Return on investment—road properties. Return on...

  20. Return to Sport After Tibial Shaft Fractures

    Science.gov (United States)

    Robertson, Greg A. J.; Wood, Alexander M.

    2015-01-01

    Context: Acute tibial shaft fractures represent one of the most severe injuries in sports. Return rates and return-to-sport times after these injuries are limited, particularly with regard to the outcomes of different treatment methods. Objective: To determine the current evidence for the treatment of and return to sport after tibial shaft fractures. Data Sources: OVID/MEDLINE (PubMed), EMBASE, CINAHL, Cochrane Collaboration Database, Web of Science, PEDro, SPORTDiscus, Scopus, and Google Scholar were all searched for articles published from 1988 to 2014. Study Selection: Inclusion criteria comprised studies of level 1 to 4 evidence, written in the English language, that reported on the management and outcome of tibial shaft fractures and included data on either return-to-sport rate or time. Studies that failed to report on sporting outcomes, those of level 5 evidence, and those in non–English language were excluded. Study Design: Systematic review. Level of Evidence: Level 4. Data Extraction: The search used combinations of the terms tibial, tibia, acute, fracture, athletes, sports, nonoperative, conservative, operative, and return to sport. Two authors independently reviewed the selected articles and created separate data sets, which were subsequently combined for final analysis. Results: A total of 16 studies (10 retrospective, 3 prospective, 3 randomized controlled trials) were included (n = 889 patients). Seventy-six percent (672/889) of the patients were men, with a mean age of 27.7 years. Surgical management was assessed in 14 studies, and nonsurgical management was assessed in 8 studies. Return to sport ranged from 12 to 54 weeks after surgical intervention and from 28 to 182 weeks after nonsurgical management (mean difference, 69.5 weeks; 95% CI, –83.36 to −55.64; P Fractures treated surgically had a return-to-sport rate of 92%, whereas those treated nonsurgically had a return rate of 67% (risk ratio, 1.37; 95% CI, 1.20 to 1.57; P displaced fractures

  1. 26 CFR 301.6103(h)(2)-1 - Disclosure of returns and return information (including taxpayer return information) to and by...

    Science.gov (United States)

    2010-04-01

    ... administration. 301.6103(h)(2)-1 Section 301.6103(h)(2)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT... Returns Returns and Records § 301.6103(h)(2)-1 Disclosure of returns and return information (including..., shall, to the extent provided by section 6103(h)(2) (A), (B), and (C) and subject to the requirements of...

  2. 76 FR 17521 - Specified Tax Return Preparers Required To File Individual Income Tax Returns Using Magnetic Media

    Science.gov (United States)

    2011-03-30

    ... Specified Tax Return Preparers Required To File Individual Income Tax Returns Using Magnetic Media AGENCY... regulations on the requirement for ``specified tax return preparers'' to file individual income tax returns.... These regulations provide guidance to specified tax return preparers who prepare and file individual...

  3. Learning to Mix n-Step Returns: Generalizing lambda-Returns for Deep Reinforcement Learning

    OpenAIRE

    Sharma, Sahil; J, Girish Raguvir; Ramesh, Srivatsan; Ravindran, Balaraman

    2017-01-01

    Reinforcement Learning (RL) can model complex behavior policies for goal-directed sequential decision making tasks. A hallmark of RL algorithms is Temporal Difference (TD) learning: value function for the current state is moved towards a bootstrapped target that is estimated using next state's value function. $\\lambda$-returns generalize beyond 1-step returns and strike a balance between Monte Carlo and TD learning methods. While lambda-returns have been extensively studied in RL, they haven'...

  4. Temporal Oculomotor Inhibition of Return and Spatial Facilitation of Return in a Visual Encoding Task

    Directory of Open Access Journals (Sweden)

    Steven G Luke

    2013-07-01

    Full Text Available Oculomotor inhibition of return (O-IOR is an increase in saccade latency prior to an eye movement to a recently fixated location compared to other locations. It has been proposed that this temporal O-IOR may have spatial consequences, facilitating foraging by inhibiting return to previously attended regions. In order to test this possibility, participants viewed arrays of objects and of words while their eye movements were recorded. Temporal O-IOR was observed, with equivalent effects for object and word arrays, indicating that temporal O-IOR is an oculomotor phenomenon independent of array content. There was no evidence for spatial inhibition of return. Instead, spatial facilitation of return was observed: Participants were significantly more likely than chance to make return saccades and to refixate just-visited locations. Further, the likelihood of making a return saccade to an object or word was contingent on the amount of time spent viewing that object or word before leaving it. This suggests that, unlike temporal O-IOR, return probability is influenced by cognitive processing. Taken together, these results are inconsistent with the hypothesis that inhibition of return functions as a foraging facilitator. The results also provide strong evidence for a different oculomotor bias that could serve as a foraging facilitator: saccadic momentum, a tendency to repeat the most recently executed saccade program. We suggest that models of visual attention could incorporate saccadic momentum in place of inhibition of return.

  5. HUBUNGAN RETURN SAHAM DAN INFLASI DI INDONESIA

    Directory of Open Access Journals (Sweden)

    Nyoman Triaryati

    2017-03-01

    Full Text Available The effect of inflation to the stock return research had been held since three decades ago based on GeneralizeFisher’s Hypotheses, but ‘how inflation influenced stock return’ had become a debate until today. In Indonesiamost of the related research used inflation as one of the variables that influenced stock return despite of others inshort period of time. This research investigated the effect of inflation to the stock return in Indonesia within fifteenyears, which was divided into 3 (three periods of time reflecting different economic growth for each of it. Thepurpose of this allotment was to see the consistency how inflation influenced the stock market. Using a secondarydata from monthly inflation and IHSG period 1998 until 2012, included three hundred and sixty observation,simple regression model analyses was applied. This research acknowledged that inflation negatively influencedstock return in a long time period, but it did not exist in the short time period, except when the level of inflationreached 10%. In conclusion, inflation influence on the stock return was not ascertained by how long the investigationwas held but if there was any inflation rate reaching 10% within the period of investigation.

  6. Return Intervals Approach to Financial Fluctuations

    Science.gov (United States)

    Wang, Fengzhong; Yamasaki, Kazuko; Havlin, Shlomo; Stanley, H. Eugene

    Financial fluctuations play a key role for financial markets studies. A new approach focusing on properties of return intervals can help to get better understanding of the fluctuations. A return interval is defined as the time between two successive volatilities above a given threshold. We review recent studies and analyze the 1000 most traded stocks in the US stock markets. We find that the distribution of the return intervals has a well approximated scaling over a wide range of thresholds. The scaling is also valid for various time windows from one minute up to one trading day. Moreover, these results are universal for stocks of different countries, commodities, interest rates as well as currencies. Further analysis shows some systematic deviations from a scaling law, which are due to the nonlinear correlations in the volatility sequence. We also examine the memory in return intervals for different time scales, which are related to the long-term correlations in the volatility. Furthermore, we test two popular models, FIGARCH and fractional Brownian motion (fBm). Both models can catch the memory effect but only fBm shows a good scaling in the return interval distribution.

  7. Return to work after lower limb amputation.

    Science.gov (United States)

    Burger, Helena; Marincek, Crt

    2007-09-15

    To review the literature on return to work after lower limb amputation. A comprehensive review of literature on return to work after lower limb amputation was carried out, searching MEDLINE and PubMED. Most authors found return-to-work rate to be about 66%. Between 22 and 67% of the subjects retained the same occupation, while the remainder had to change occupation. Post-amputation jobs were generally more complex with a requirement for a higher level of general educational development and were physically less demanding. The return to work depends on: general factors, such as age, gender and educational level; factors related to impairments and disabilities due to amputation (amputation level, multiple amputations, comorbidity, reason for amputation, persistent stump problems, the time from the injury to obtaining a permanent prosthesis, wearing comfort of the prosthesis, walking distance and restrictions in mobility); and factors related to work and policies (salary, higher job involvement, good support from the implementing body and the employer and social support network). Subjects have problems returning to work after lower limb amputation. Many have to change their work and/or work only part-time. Vocational rehabilitation and counselling should become a part of rehabilitation programme for all subjects who are of working age after lower limb amputation. Better cooperation between professionals, such as rehabilitation team members, implementing bodies, company doctors and the employers, is necessary.

  8. Expected Stock Returns and Variance Risk Premia

    DEFF Research Database (Denmark)

    Bollerslev, Tim; Zhou, Hao

    We find that the difference between implied and realized variation, or the variance risk premium, is able to explain more than fifteen percent of the ex-post time series variation in quarterly excess returns on the market portfolio over the 1990 to 2005 sample period, with high (low) premia predi...... to daily, data. Our findings suggest that temporal variation in both risk-aversion and volatility-risk play an important role in determining stock market returns.......We find that the difference between implied and realized variation, or the variance risk premium, is able to explain more than fifteen percent of the ex-post time series variation in quarterly excess returns on the market portfolio over the 1990 to 2005 sample period, with high (low) premia...

  9. Returns to beauty over the life course

    DEFF Research Database (Denmark)

    Jæger, Mads Meier

    This paper analyzes returns to facial beauty over the life course with respect to four outcomes: Socioeconomic status (SES), marital success, spouse’s SES, and health. I use data from the Wisconsin Longitudinal Study which, based on high school yearbook photos, has collected data on respondents......’ facial attractiveness as well as data on SES, marital, and health outcomes from their mid-20s to their mid-60s. I find that beauty has lasting positive returns for women since more beautiful women have higher SES throughout their working life, have a higher probability of being married at age 25......, and marry high-SES husbands. I find no effects of beauty on health and, in general, no returns to beauty for men....

  10. Macro factors in oil futures returns

    International Nuclear Information System (INIS)

    Le Pen, Yannick; Sevi, Benoit

    2012-01-01

    We investigate the macro factors that can explain the monthly oil futures return for the NYMEX WTI futures contract for the time period 1993:11 to 2010:03. We build a new database of 187 real and nominal macro-economic variables from developed and emerging countries and resort to the large factor approximate model to extract 9 factors from this dataset. We then regress crude oil return on several combinations of these factors. Our best model explains around 38% of the variability of oil futures return. More interestingly, the factor which has the largest influence on crude oil price is related to real variables from emerging countries. This result confirms the latest finding in the literature that the recent evolution in oil price is attributable to change in supply and demand conditions and not to the large increase in trading activity from speculators. (authors)

  11. Returning to Work After Electrical Injuries

    DEFF Research Database (Denmark)

    Stergiou-Kita, M.; Mansfield, E.; Bayley, M.

    2014-01-01

    were conducted with individuals who experienced an electrical injury at the workplace. Participants were recruited from specialized burns rehabilitation programs in Ontario, Canada. Interviews were transcribed verbatim and thematic analysis used to analyze the qualitative interviews. Data regarding......, and responsibility for the injury; and 3) having to return to the workplace or worksite where the injury took place. The most beneficial supports identified by the injured workers included: 1) support from family, friends, and coworkers; and 2) the receipt of rehabilitation services specialized in electrical injury...... injuries to advocate on their behalf. Immediate and persistent physical, cognitive, psychosocial, and support factors can affect individuals' abilities to successfully return to work after an electrical injury. Specialized services and advocacy were viewed as beneficial to successful return to work....

  12. Return Migration: A Study of College Graduates Returning to Rural U.S. Homes

    Science.gov (United States)

    Mahoney, Elizabeth D.

    2009-01-01

    The purpose of this study is to explore perceptions of return migration experiences and gain knowledge from rural residents who have left to obtain a college education and start careers in non-rural areas, and who then returned to their rural hometowns with the social and economic benefits of a college education, and other valuable resources. This…

  13. Male and Female Marriage Returns to Schooling

    DEFF Research Database (Denmark)

    Bruze, Gustaf

    , and the extent to which men and women sort positively on several traits in marriage. Counterfactual analysis conducted with the model, suggests that US middle aged men and women are earning in the order of 30 percent of their return to schooling through improved marital outcomes.......A collective marriage matching model is estimated and calibrated to quantify the share of returns to schooling that is realized through marriage. The predictions of the model are matched with US data on the relationship between schooling and wage rates, the division of time within the household...

  14. The return of the Andromedids meteor shower

    OpenAIRE

    Wiegert, Paul A.; Brown, Peter G.; Weryk, Robert J.; Wong, Daniel K.

    2012-01-01

    The Andromedid meteor shower underwent spectacular outbursts in 1872 and 1885, producing thousands of visual meteors per hour and described as `stars fell like rain' in Chinese records of the time. The shower originates from comet 3D/Biela whose disintegration in the mid-1800's is linked to the outbursts, but the shower has been weak or absent since the late 19th Century. This shower returned in December 2011 with a zenithal hourly rate of approximately 50, the strongest return in over a hund...

  15. Interest Rate Sensitivities of REIT Returns

    OpenAIRE

    Ling T. He,; James. R. Webb; Neil Myer

    2003-01-01

    In order to identify effective interest rate proxies for equity and mortgage REITs, this study analyzes seven different interest rate proxies that have been widely used in the REIT literature. They are the monthly holding period returns on long-term U.S. government bonds and high-grade corporate bonds, the percentage changes in yields for long-term U.S. government bonds and high-yield (Baa) corporate bonds, the difference between returns on long-term U.S. government bonds and T-bill rates, th...

  16. Tail Risk Premia and Return Predictability

    DEFF Research Database (Denmark)

    Bollerslev, Tim; Todorov, Viktor; Xu, Lai

    The variance risk premium, defined as the difference between actual and risk-neutralized expectations of the forward aggregate market variation, helps predict future market returns. Relying on new essentially model-free estimation procedure, we show that much of this predictability may be attribu......The variance risk premium, defined as the difference between actual and risk-neutralized expectations of the forward aggregate market variation, helps predict future market returns. Relying on new essentially model-free estimation procedure, we show that much of this predictability may......-varying economic uncertainty and changes in risk aversion, or market fears, respectively....

  17. Return probability: Exponential versus Gaussian decay

    Energy Technology Data Exchange (ETDEWEB)

    Izrailev, F.M. [Instituto de Fisica, BUAP, Apdo. Postal J-48, 72570 Puebla (Mexico)]. E-mail: izrailev@sirio.ifuap.buap.mx; Castaneda-Mendoza, A. [Instituto de Fisica, BUAP, Apdo. Postal J-48, 72570 Puebla (Mexico)

    2006-02-13

    We analyze, both analytically and numerically, the time-dependence of the return probability in closed systems of interacting particles. Main attention is paid to the interplay between two regimes, one of which is characterized by the Gaussian decay of the return probability, and another one is the well-known regime of the exponential decay. Our analytical estimates are confirmed by the numerical data obtained for two models with random interaction. In view of these results, we also briefly discuss the dynamical model which was recently proposed for the implementation of a quantum computation.

  18. Return migration: theory and empirical evidence

    OpenAIRE

    Dustmann, C.; Weiss, Y.

    2007-01-01

    In this paper we discuss forms of migration that are non-permanent. We focus on temporary migrations where the decision to return is taken by the immigrant. These migrations are likely to be frequent, and we provide some evidence for the UK. We then develop a simple model which rationalizes the decision of a migrant to return to his home country, despite a persistently higher wage in the host country. We consider three motives for a temporary migration: Differences in relative prices in host-...

  19. Medical returns as class transformation: situating migrants' medical returns within a framework of transnationalism.

    Science.gov (United States)

    Horton, Sarah B

    2013-01-01

    Because studies of migrants' 'medical returns' have been largely confined to the field of public health, such forms of return migration are rarely contextualized within the rich social scientific literature on transnational migration. Drawing on ethnographic interviews with Mexican migrants in an immigrant enclave in central California, I show that migrants' reasons for returning to their hometowns for care must be understood within the class disjunctures facilitated by migration. While migrants' Medicaid insurance confined them to public clinics and hospitals in the United States, their migrant dollars enabled them to visit private doctors and clinics in Mexico. Yet medical returns were not mere medical arbitrage, but also allowed migrants to access care that had previously been foreclosed to them as poor peasants in Mexico. Thus crossing the border enabled a dual class transformation, as Mexican migrants transitioned from Medicaid recipients to cash-paying patients, and from poor rural peasants to 'returning royalty.'

  20. Return to sports after the latarjet procedure: high return level of non-collision athletes.

    Science.gov (United States)

    Kee, Young Moon; Kim, Jung Youn; Kim, Hwan Jin; Lim, Chan Teak; Rhee, Yong Girl

    2018-03-01

    The purpose of this study was to compare the clinical outcomes, including the level of return to sport, of collision and non-collision athletes who had the Latarjet procedure. A total of 56 shoulders of 29 collision and 27 non-collision athletes were retrospectively analyzed. All study participants underwent the Latarjet procedure between 2007 and 2014. Median age at the time of surgery was 26.5 years(18-43) and follow-up duration was 67.0 months(24-113). At the final follow-up, 54 (96.4%) patients returned to sports. Nine patients (16.1%) returned to the same level of sports. In a group of collision athletes, 1 patient (3.4%) returned to the same level, 16 (55.2%) returned to lower level, 10 (34.5%) changed sports, and 2 (6.9%) quit sports. In a group of noncollision athletes, 8 (29.6%) returned to same level, 11 (40.7%) returned at a lower level and 8 (29.6%) changed sports. The level of return to sports in collision group was statistically different from that in noncollision group (p = 0.046). The mean VAS, Rowe and UCLA scores improved significantly in both groups (p < 0.001) with no statistically significant difference between both groups. Although the clinical outcomes were not significantly different between collision and non-collision athletes, the level of return to sports was significantly higher in the non-collision group than in the collision group. The result suggests that the level of physical demand according to sport type is an important prognostic factor which predicts the level of return to sport after the Lartarjet procedure in athletes. IV.

  1. Solid Returns in 1992-93.

    Science.gov (United States)

    Blumenstyk, Goldie

    1993-01-01

    In 1992-93 the average total investment return for major college endowments was 13.1%, below most leading stock/bond indexes but well above the inflation rate for the period. Institutions that outperformed the average attributed success to investment in small and midsized U.S. companies and in foreign stocks and bonds. (MSE)

  2. AHP 47: WAITING FOR THE RETURN

    Directory of Open Access Journals (Sweden)

    Rdo rje skyabs རྡོ་རྗེ་སྐྱབས།

    2017-04-01

    Full Text Available "Tshe ring, how many days has your father been away?" "Father's been gone for twenty-one days," Tshe ring replied. "Oh! Twenty-one days isn't a short time. It's time for him to return. I hope he comes back safely and quickly," Tshe ring's grandmother observed, and resumed chanting and spinning her old prayer wheel. ...

  3. Poor Man's Asteroid Sample Return Missions

    Science.gov (United States)

    Landis, R. R.; Graham, L. D.

    2018-02-01

    A cislunar platform at a Near-Rectilinear [Halo] Orbit in the vicinity of the Moon could provide an opportunity for a small NEA sample return mission at relatively low cost. There are a couple potential small ( 1m) object target dynamical groups.

  4. Return Migration to Mexico: Does Health Matter?

    Science.gov (United States)

    Arenas, Erika; Goldman, Noreen; Pebley, Anne R; Teruel, Graciela

    2015-12-01

    We use data from three rounds of the Mexican Family Life Survey to examine whether migrants in the United States returning to Mexico in the period 2005-2012 have worse health than those remaining in the United States. Despite extensive interest by demographers in health-related selection, this has been a neglected area of study in the literature on U.S.-Mexico migration, and the few results to date have been contradictory and inconclusive. Using five self-reported health variables collected while migrants resided in the United States and subsequent migration history, we find direct evidence of higher probabilities of return migration for Mexican migrants in poor health as well as lower probabilities of return for migrants with improving health. These findings are robust to the inclusion of potential confounders reflecting the migrants' demographic characteristics, economic situation, family ties, and origin and destination characteristics. We anticipate that in the coming decade, health may become an even more salient issue in migrants' decisions about returning to Mexico, given the recent expansion in access to health insurance in Mexico.

  5. State anxiety modulates the return of fear

    NARCIS (Netherlands)

    Kuhn, Manuel; Mertens, Gaetan; Lonsdorf, Tina B

    2016-01-01

    Current treatments for anxiety disorders are effective but limited by the high frequency of clinical relapse. Processes underlying relapse are thought to be experimentally modeled in fear conditioning experiments with return fear (ROF) inductions. Thereby reinstatement-induced ROF might be

  6. Newly Homeless Youth Typically Return Home

    Science.gov (United States)

    Milburn, Norweeta G.; Rosenthal, Doreen; Rotheram-Borus, Mary Jane; Mallett, Shelley; Batterham, Philip; Rice, Eric; Solorio, Rosa

    2007-01-01

    165 newly homeless adolescents from Melbourne, Australia and 261 from Los Angeles, United States were surveyed and followed for two years. Most newly homeless adolescents returned home (70% U.S., 47% Australia) for significant amounts of time (39% U.S., 17% Australia more than 12 months) within two years of becoming homeless. PMID:17531769

  7. Newly Homeless Youth Typically Return Home

    OpenAIRE

    Milburn, Norweeta G.; Rosenthal, Doreen; Rotheram-Borus, Mary Jane; Mallett, Shelley; Batterham, Philip; Rice, Eric; Solorio, Rosa

    2007-01-01

    165 newly homeless adolescents from Melbourne, Australia and 261 from Los Angeles, United States were surveyed and followed for two years. Most newly homeless adolescents returned home (70% U.S., 47% Australia) for significant amounts of time (39% U.S., 17% Australia more than 12 months) within two years of becoming homeless.

  8. What's the Return on a Tenner Nowadays...?

    Science.gov (United States)

    Williams, Sandra

    2001-01-01

    Workplace training at the British offices of Readers' Digest is designed to improve staff skills in communicating with customers. Evaluation of workshops focused on spelling, grammar, and business writing shows that the company is achieving a return on its training investment. (SK)

  9. The Returns on Investment Grade Diamonds

    NARCIS (Netherlands)

    Renneboog, L.D.R.

    2013-01-01

    Abstract: This paper examines the risk-return characteristics of investment grade gems (white diamonds, colored diamonds and other types of gems including sapphires, rubies, and emeralds). The transactions are coming from gem auctions and span the period 1999-2012. Over our time frame, the annual

  10. Return of IAEA assistance team from Thailand

    International Nuclear Information System (INIS)

    2000-01-01

    The document informs about the return from Thailand of the IAEA team sent (upon the request of the Thai Government under the Convention on Assistance in Case of a Nuclear Accident or Radiological Emergency) to Bangkok to help Thai counterparts in the wake of an accident involving a discarded radioactive cobalt 60 source used in hospitals

  11. Decommissioning: returning the Niederaichbach site to nature

    International Nuclear Information System (INIS)

    Krieger, F.; Obst, J.

    1985-01-01

    The German Niederaichbach plant is expected to be the first reactor in Western Europe to be returned to a green-field site. A remote-controlled cutting and handling system, developed to carry out the decommissioning is described. The dismantling procedure and the project status are outlined. (author)

  12. Energy return on investment for aquaponics

    DEFF Research Database (Denmark)

    Atlason, Reynir Smari; Danner, Ragnar; Unnthorsson, Runar

    2017-01-01

    Energy use in food production is linked to environmental impact as most agricultural practices are reliant on fossil fuels. It is therefore of importance to locate food production methods that are less energy intensive than current methods and are less polluting. Energy return on investment (EROI...

  13. Diagnosing Febrile Illness in a Returned Traveler

    Centers for Disease Control (CDC) Podcasts

    2012-03-01

    This podcast will assist health care providers in diagnosing febrile illness in patients returning from a tropical or developing country.  Created: 3/1/2012 by National Center for Enteric, Zoonotic, and Infectious Diseases (NCEZID).   Date Released: 3/1/2012.

  14. Return to the mainstream: The torturous track

    Indian Academy of Sciences (India)

    Lawrence

    arrange for a postdoctoral fellowship in the US. When I told him of my decision to return to India, his prescient words were: “As a woman physicist, you will need to produce twice as much work as a man to get half the recognition. The prejudice and chauvinism of many men (no matter where they are from) towards women.

  15. An Editor's Journey: Return to Haiti

    Science.gov (United States)

    Moy, Yvette

    2012-01-01

    This paper recounts the author's story as she returned to Haiti in February to join a building project near Port-Au-Prince and to document efforts by U.S. higher education institutions to help the country rebound from the devastating 2010 earthquake. The author describes how consortiums have been formed in order to support the development of the…

  16. Return to work: Police personnel and PTSD

    NARCIS (Netherlands)

    Plat, Marie-Christine J.; Westerveld, Gre J.; Hutter, Renée C.; Olff, Miranda; Frings-Dresen, Monique H. W.; Sluiter, Judith K.

    2013-01-01

    This study i) describes the number of police personnel with PTSD who are working and those who are on sick leave before and after an out-patient-clinic treatment program and ii) examines which factors are related to return to work. Police personnel treated for PTSD (n=121). In this retrospective

  17. Predicting return to play after hamstring injuries

    NARCIS (Netherlands)

    M.H. Moen (Maaike); G. Reurink (Gustaaf); A. Weir (Adam); J.L. Tol (Johannes); M. Maas (Mario); G.J. Goudswaard (Gert Jan)

    2014-01-01

    markdownabstract__Abstract__ Background Previous studies on the prognostic value of clinical and MRI parameters for the time to return to play (TTRTP) in acute hamstring injuries showed only limited to moderate evidence for the various investigated parameters. Some studies had multiple

  18. Predicting return to play after hamstring injuries

    NARCIS (Netherlands)

    Moen, M. H.; Reurink, G.; Weir, A.; Tol, J. L.; Maas, M.; Goudswaard, G. J.

    2014-01-01

    Previous studies on the prognostic value of clinical and MRI parameters for the time to return to play (TTRTP) in acute hamstring injuries showed only limited to moderate evidence for the various investigated parameters. Some studies had multiple methodological limitations, including retrospective

  19. Value-at-risk and extreme returns

    NARCIS (Netherlands)

    J. Daníelsson (Jón); C.G. de Vries (Casper)

    2000-01-01

    textabstractWe propose a semi-parametric method for unconditional Value-at-Risk (VaR) evaluation. The largest risks are modelled parametrically, while smaller risks are captured by the non-parametric empirical distribution function. A comparison of methods on a portfolio of stock and option returns

  20. Intergranular attack evaluation from hideout return

    International Nuclear Information System (INIS)

    Nordmann, F.; Dupin, M.; Menet, O.; Fiquet, J.-M.

    1989-01-01

    Intergranular Attack (IGA) is the secondary side corrosion mechanism on PWR steam generator tubing, which can occur most frequently even with a good waterchemistry. It has moderately developed in a few French units. Consequently, several remedies have been implemented, such as sodium content decrease in makeup water and application of more stringent chemistry specifications. In order to evaluate the local chemistry in restricted areas where IGA may occur, a large hideout return programme has been carried out on many units. It shows that free alkalinity returning during shutdown is usually ranging from 0.5 to 5 g of sodium per steam generator, and that the required time to let it return is about 40 hours. However, high temperature pH calculations indicate that such an amount of alkalinity can correspond to a potentially corrosive solution in restricted areas, where a concentration factor of 10 5 to 10 7 can be reached, inducing a pH of 10 at 300 o C. Studies are still in progress in order to define when a shutdown should be required to allow hideout return and help to prevent IGA. (author)

  1. 7 CFR 3560.305 - Return on investment.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Return on investment. 3560.305 Section 3560.305... AGRICULTURE DIRECT MULTI-FAMILY HOUSING LOANS AND GRANTS Financial Management § 3560.305 Return on investment. (a) Borrower's return on investment. Borrowers may receive a return on their investment (ROI) in...

  2. [Psychiatric Inpatient Treatment and Return to Work].

    Science.gov (United States)

    Mernyi, Lena; Hölzle, Patricia; Hamann, Johannes

    2017-05-12

    Objective People with mental diseases have a high risk of unemployment and they have only limited access to the labor market. The return to work is often associated with fears.The present study aims to provide an overview of the number of hospitalized psychiatric patients with permanent employment. Moreover it should give an insight into the process of return to work, the experiences patients gain and the support they receive. Methods In the participating clinics we measured the number of patients with permanent employment. The main inclusion criteria for further survey were the status of permanent employment and age between 18 and 65. The participating patients were interviewed on two occasions, at the time of inclusion and 3 months after the patient was discharged. The questions addressed working conditions, job satisfaction and the process of return-to-work. For statistical analysis, descriptive statistics (frequencies, means, standard deviations) were used. Results Only 21 % of n = 815 inpatients of the participating hospitals were permanently employed. Many patients did not return to work after being discharged. In many cases the interviewed patients saw a connection between their job and their current episode of illness. In this context patients reported unsatisfying workplace conditions such as long working hours, bad work organization and social conflicts. Conclusions For mentally ill patients, the employment rate in the primary labor market is devastating low. After psychiatric inpatient treatment patients are at high risk to lose their jobs. In order to prevent this development, work-related stress factors should be discussed with inpatients at an early stage and support should be provided during the return-to-work-process. © Georg Thieme Verlag KG Stuttgart · New York.

  3. Expected commodity returns and pricing models

    International Nuclear Information System (INIS)

    Cortazar, Gonzalo; Kovacevic, Ivo; Schwartz, Eduardo S.

    2015-01-01

    Stochastic models of commodity prices have evolved considerably in terms of their structure and the number and interpretation of the state variables that model the underlying risk. Using multiple factors, different specifications and modern estimation techniques, these models have gained wide acceptance because of their success in accurately fitting the observed commodity futures' term structures and their dynamics. It is not well emphasized however that these models, in addition to providing the risk neutral distribution of future spot prices, also provide their true distribution. While the parameters of the risk neutral distribution are estimated more precisely and are usually statistically significant, some of the parameters of the true distribution are typically measured with large errors and are statistically insignificant. In this paper we argue that to increase the reliability of commodity pricing models, and therefore their use by practitioners, some of their parameters — in particular the risk premium parameters — should be obtained from other sources and we show that this can be done without losing any precision in the pricing of futures contracts. We show how the risk premium parameters can be obtained from estimations of expected futures returns and provide alternative procedures for estimating these expected futures returns. - Highlights: • Simple methodology to improve the performance of commodity pricing models • New information about commodity futures expected return is added to the estimation. • No significant effect in pricing futures contracts is observed. • More reliable commodity pricing model's expected returns are obtained. • Methodology is open to any expected futures return model preferred by practitioner

  4. ANALYSING TURKISH INDIVIDUAL PENSION SYSTEM FEES AND RETURNS

    OpenAIRE

    Peker, Ibrahim

    2018-01-01

    This study aims at categorizing, computing and analyzing fees and costs in Turkish Individual Pension System. To this end, net real returns after all costs were computed and these returns were compared with the disclosed fees and returns. Generally in practice, only fund management fees are taken into consideration for calculating net returns and with this method net annual average (geometric) return of the system is calculated as 2.01% for the 2008-2014 period. However, the results of this s...

  5. 26 CFR 301.6103(n)-1 - Disclosure of returns and return information in connection with written contracts or agreements...

    Science.gov (United States)

    2010-04-01

    ... administration purposes. 301.6103(n)-1 Section 301.6103(n)-1 Internal Revenue INTERNAL REVENUE SERVICE... and Returns Returns and Records § 301.6103(n)-1 Disclosure of returns and return information in... administration purposes. (a) General rule. (1) Pursuant to the provisions of section 6103(n) of the Internal...

  6. Returns management in the supply chain

    Directory of Open Access Journals (Sweden)

    Anna Maria Jeszka

    2014-09-01

    Full Text Available Background:  The aim of this exploratory empirical research was to evaluate the level of cooperation in the area of reverse logistics between selected retail chains and logistics operators and suppliers; to identify and evaluate the influence the procedures of handling returns have on the relationships with customers, cost reduction, value recovery, inventory reduction and increasing profitability; as well as determining to what extent logistics operators are involved in the procedures of handling returns in the analysed chains. Methods: Based on the literature and the experience of researchers from developed countries a questionnaire was constructed which was subsequently used to conduct empirical research in selected retail chains operating in two provinces in Poland. The questionnaire survey involved the sales personnel of selected retail chains in the clothing industry. Overall, 105 questionnaires were collected and analysed. Results: Various aspects of cooperation with suppliers and logistics operators in respect of handling returns were evaluated. Most indicators of cooperation were evaluated favourably, with the exception of joint access to the database, the use of inventory data available online, and access to information from the warehouse, which received low marks from the respondents. In the case of the studied stores, some of the activities in the area of reverse logistics are outsourced; for example, obtaining products from users, logistics, and the transport of returns are typically done by an outside operator. Inspection, sorting, appraisal, repairs, as well as the sales of refurbished products are usually performed within the studied retail corporations. Conclusions: The research has shown that the retail chains developed very good programmes for handling returns in the supply chain, as evidenced by the presented and highly rated indicators of cooperation, with the exception of information exchange where there is still much

  7. Fundamental volatility and stock returns : does fundamental volatility explain stock returns?

    OpenAIRE

    Selboe, Guner K.; Virdee, Jaspal Singh

    2017-01-01

    In this thesis, we investigate whether the fundamental uncertainty can explain the crosssection of stock returns. To measure the fundamental uncertainty, we estimate rolling standard deviations and accounting betas of four different fundamentals: revenues, gross profit, earnings and cash flows. The standard deviation and the beta of revenues significantly explain returns in the Fama-Macbeth procedure, but only appears significant among smaller stocks in the portfolio formation ...

  8. Margin Requirements and Equity Option Returns

    DEFF Research Database (Denmark)

    Hitzemann, Steffen; Hofmann, Michael; Uhrig-Homburg, Marliese

    In equity option markets, traders face margin requirements both for the options themselves and for hedging-related positions in the underlying stock market. We show that these requirements carry a significant margin premium in the cross-section of equity option returns. The sign of the margin...... premium depends on demand pressure: If end-users are on the long side of the market, option returns decrease with margins, while they increase otherwise. Our results are statistically and economically significant and robust to different margin specifications and various control variables. We explain our...... findings by a model of funding-constrained derivatives dealers that require compensation for satisfying end-users’ option demand....

  9. Margin Requirements and Equity Option Returns

    DEFF Research Database (Denmark)

    Hitzemann, Steffen; Hofmann, Michael; Uhrig-Homburg, Marliese

    In equity option markets, traders face margin requirements both for the options themselves and for hedging-related positions in the underlying stock market. We show that these requirements carry a significant "margin premium" in the cross-section of equity option returns. The sign of the margin...... premium depends on demand pressure: If end-users are on the long side of the market, option returns decrease with margins, while they increase otherwise. Our results are statistically and economically significant and robust to different margin specifications and various control variables. We explain our...... findings by a model of funding-constrained derivatives dealers that require compensation for satisfying end-users’ option demand....

  10. Homogenity of Die Casting and Returning Material

    Directory of Open Access Journals (Sweden)

    J. Malik

    2012-04-01

    Full Text Available Homogeneity of die castings is influenced by wide range of technological parameters as piston velocity in filling chamber of die casting machine, filling time of mould cavity, temperature of cast alloy, temperature of the mould, temperature of filling chamber, surface pressure on alloy during mould filling, final pressure and others. Based on stated parameters it is clear, that main parameters of die casting are filling time of die mould cavity and velocity of the melt in the ingates. Filling time must ensure the complete filling of the mould cavity before solidification process can negatively influence it. Among technological parameters also belong the returning material, which ratio in charge must be constrained according to requirement on final homogeneity of die castings. With the ratio of returning material influenced are the mechanical properties of castings, inner homogeneity and chemical composition.

  11. The survival and return of institutions

    DEFF Research Database (Denmark)

    Guardiancich, Igor

    2011-01-01

    Opening a new phase in historical institutionalism, Wolfgang Streeck and Kathleen Thelen show how a rigid dichotomy between incremental adaptation and radical transformation fails to capture important transformative processes common to advanced political economies. While their research focuses...... on gradual but radical transformation, the two authors leave open the interpretation of what constitutes abrupt, but only limited change. This article integrates their framework, defines what they call survival and return, and, within this genus, indicates two analytically distinct species: replication...

  12. Return method: Some applications to flow control

    International Nuclear Information System (INIS)

    Coron, J.-M.

    2002-01-01

    Due to recent progress in advanced technologies in many fields of engineering sciences, applications of flow control are developing very quickly. In this paper we survey only a tiny and theoretical part of the recent results obtained in flow control, namely some results on the controllability and on the stabilizability of the equations of incompressible fluids which have been obtained by means of the return method. (author)

  13. Environmental water incentive policy and return flows

    Science.gov (United States)

    Qureshi, M. E.; Schwabe, K.; Connor, J.; Kirby, M.

    2010-04-01

    With increasing urban, industrial, and agricultural water demand and projected reduced supply under climate change, allocations to the environment are critically low in many arid and semiarid basins. Consequently, many governments are striving to augment environmental flows, often through market-oriented mechanisms that involve compensating irrigated agriculture, the largest water user in most basins, for reducing diversions. A widely documented challenge with policies to recover water for the environment arises because part of the water diversion reduction can form the basis for downstream consumptive water rights or environmental flows. This article gives an empirical comparison of two incentive policies to acquire water for environmental flows for a part of the Murray-Darling Basin (MDB), Australia. One policy consists of paying irrigators and water delivery firms to make capital and management investments that improve on-farm irrigation and water-conveyance; the other policy consists of having the government buy water from irrigators on the active MDB water market. The results show that the first option results in relatively larger return flow reduction, while the second option tends to induce significant irrigated land retirement with relatively large reductions in consumptive use and small reductions in return flow. In cases where irrigation losses result in little useful return flow (e.g., evaporative loss reduction or during drought in some instances), efficiency-improving investments may provide some cost-effective opportunities. Where a large portion of loss forms valuable return flow, it is difficult to make a case for the cost-effectiveness of policies involving payments for investments in irrigation and conveyance system upgrades.

  14. Where Are the Returns to Lifelong Learning?

    OpenAIRE

    Coelli, Michael; Tabasso, Domenico

    2015-01-01

    We investigate the labour market determinants and outcomes of adult participation in formal education (lifelong learning) in Australia, a country with high levels of adult education. Employing longitudinal data and fixed effects methods allows identification of effects on outcomes free of ability bias. Different trends in outcomes across groups are also allowed for. The impacts of adult education differ by gender and level of study, with small or zero labour market returns in many cases. Wage...

  15. Returns management in the supply chain

    OpenAIRE

    Anna Maria Jeszka

    2014-01-01

    Background:  The aim of this exploratory empirical research was to evaluate the level of cooperation in the area of reverse logistics between selected retail chains and logistics operators and suppliers; to identify and evaluate the influence the procedures of handling returns have on the relationships with customers, cost reduction, value recovery, inventory reduction and increasing profitability; as well as determining to what extent logistics operators are involved in the procedures o...

  16. Exploring Longitudinal Risk-return Relationships

    DEFF Research Database (Denmark)

    Andersen, Torben J.; Bettis, Richard A.

    2015-01-01

    We study a longitudinal fit model of adaptation and its association with the longitudinal risk-return relationship. The model allows the firm to adjust its position in response to partial learning about a changing environment characterized by two path-dependent processes—a random walk and a stoch......We study a longitudinal fit model of adaptation and its association with the longitudinal risk-return relationship. The model allows the firm to adjust its position in response to partial learning about a changing environment characterized by two path-dependent processes—a random walk...... and a stochastic trend. Computational simulations at low levels of learning in both environmental contexts are consistent with empirical data. However, the results are also consistent when firm behavior appears to be mindless in the form of a random walk. Hence, both imperfect learning and a mindless random walk...... can lead to the inverse longitudinal risk-return relationships observed empirically. We discuss this apparent paradox and the possible resolution between mindless and conscious behavior as plausible causes of the longitudinal Bowman Paradox....

  17. Bond return predictability in expansions and recessions

    DEFF Research Database (Denmark)

    Engsted, Tom; Møller, Stig Vinther; Jensen, Magnus David Sander

    We document that over the period 1953-2011 US bond returns are predictable in expansionary periods but unpredictable during recessions. This result holds in both in-sample and out-of-sample analyses and using both univariate regressions and combination forecasting techniques. A simulation study s...... but not in expansions. Thus, our results indicate that there is not a common predictive pattern of stock and bond returns associated with the state of the economy....... shows that our tests have power to reject unpredictability in both expansions and recessions. To judge the economic significance of the results we compute utility gains for a meanvariance investor who takes the predictability patterns into account and show that utility gains are positive in expansions...... but negative in recessions. The results are also consistent with tests showing that the expectations hypothesis of the term structure holds in recessions but not in expansions. However, the results for bonds are in sharp contrast to results for stocks showing that stock returns are predictable in recessions...

  18. Earnings Quality Measures and Excess Returns

    Science.gov (United States)

    Perotti, Pietro; Wagenhofer, Alfred

    2014-01-01

    This paper examines how commonly used earnings quality measures fulfill a key objective of financial reporting, i.e., improving decision usefulness for investors. We propose a stock-price-based measure for assessing the quality of earnings quality measures. We predict that firms with higher earnings quality will be less mispriced than other firms. Mispricing is measured by the difference of the mean absolute excess returns of portfolios formed on high and low values of a measure. We examine persistence, predictability, two measures of smoothness, abnormal accruals, accruals quality, earnings response coefficient and value relevance. For a large sample of US non-financial firms over the period 1988–2007, we show that all measures except for smoothness are negatively associated with absolute excess returns, suggesting that smoothness is generally a favorable attribute of earnings. Accruals measures generate the largest spread in absolute excess returns, followed by smoothness and market-based measures. These results lend support to the widespread use of accruals measures as overall measures of earnings quality in the literature. PMID:26300582

  19. Malaria in a returning traveler from Jamaica.

    Science.gov (United States)

    Kavanaugh, Michael; Bavaro, Mary

    2014-06-01

    Malaria in Jamaica is a real, but uncommon entity and poses a health risk to our Department of Defense personnel, which should not be overlooked in returning travelers. Malaria in Jamaica was actually considered eradicated in the 1960s, but there has been a reemergence attributed to the combination of Haitian nationals as well as endemic Anopheles mosquitoes in the Kingston area. Our facility recently admitted a 33-year-old Marine who had two Emergency Department visits before being evaluated for malaria. He had returned from Kingston 14 days before presentation, which included fever, night sweats, and headache followed by a period of malaise prior to the next paroxysm. He was found to have a 1.5% parasitemia with Malaria falciparum that borders on severe malaria. Fortunately, he was treated effectively with atovaquone/proguanil and had a favorable outcome. The Center for Disease Control acknowledges that malaria is present in Jamaica, but only recommends mosquito avoidance without prophylaxis. This case emphasizes the need to consider malaria in differential diagnosis in Jamaica as well as in any returning travelers with fever because of broad global travel. Reprint & Copyright © 2014 Association of Military Surgeons of the U.S.

  20. THE RETURN OF THE ANDROMEDIDS METEOR SHOWER

    International Nuclear Information System (INIS)

    Wiegert, Paul A.; Brown, Peter G.; Weryk, Robert J.; Wong, Daniel K.

    2013-01-01

    The Andromedid meteor shower underwent spectacular outbursts in 1872 and 1885, producing thousands of visual meteors per hour and described as ''stars fell like rain'' in Chinese records of the time. The shower originates from comet 3D/Biela whose disintegration in the mid-1800's is linked to the outbursts, but the shower has been weak or absent since the late 19th century. This shower returned in 2011 December with a zenithal hourly rate of approximately 50, the strongest return in over a hundred years. Some 122 probable Andromedid orbits were detected by the Canadian Meteor Orbit Radar while one possible brighter Andromedid member was detected by the Southern Ontario Meteor Network and several single station possible Andromedids by the Canadian Automated Meteor Observatory. The shower outburst occurred during 2011 December 3-5. The radiant at R.A. +18° and decl. +56° is typical of the ''classical'' Andromedids of the early 1800s, whose radiant was actually in Cassiopeia. Numerical simulations of the shower were necessary to identify it with the Andromedids, as the observed radiant differs markedly from the current radiant associated with that shower. The shower's orbital elements indicate that the material involved was released before 3D/Biela's breakup prior to 1846. The observed shower in 2011 had a slow geocentric speed (V G = 16 km s –1 ) and was comprised of small particles: the mean measured mass from the radar is ∼5 × 10 –7 kg, corresponding to radii of 0.5 mm at a bulk density of 1000 kg m –3 . Numerical simulations of the parent comet indicate that the meteoroids of the 2011 return of the Andromedids shower were primarily ejected during 3D/Biela's 1649 perihelion passage. The orbital characteristics, radiant, and timing as well as the absence of large particles in the streamlet are all broadly consistent with simulations. However, simulations of the 1649 perihelion passage necessitate going back five Lyapunov times (which is only 25 yr for the

  1. Inactive nurses in Taiwan: human capital, intention to return to hospital nursing, and incentives for returning.

    Science.gov (United States)

    Yu, Hsing-Yi; Tang, Fu-In; Chen, I-Ju; Yin, Teresa J C; Chen, Chu-Chieh; Yu, Shu

    2016-04-01

    To investigate inactive nurses' human capital, intention to return to hospital nursing and incentives for returning. Few studies have discussed the loss of human capital with regard to inactive nurses and how to attract them to return to clinical work. Systematic random sampling was used, with 328 subjects completing the mailed questionnaires, resulting in a response rate of 25.4%. Inactive nurses not only had moderate to high human capital (average years of nursing experience was 10.29, with moderate to high levels of nursing professional commitment and nursing competence) and were young. Forty-three percent of subjects reported intending to return to hospital nursing. Sufficient nurse staffing, greater safety in the working environment, and re-entry preparation programmes were incentives for returning. Recruiting inactive nurses back to hospital work is vital and feasible as inactive nurses had a moderate to high degree of human capital. The most feasible way is offering reasonable working conditions, in particular, providing sufficient staffing, a safe working environment and re-entry preparation programmes. The findings confirm the human capital of inactive nurses and provide concrete directions for nursing managers to follow when recruiting inactive nurses to hospital nursing. © 2015 John Wiley & Sons Ltd.

  2. Mars Sample Return Landed with Red Dragon

    Science.gov (United States)

    Stoker, Carol R.; Lemke, Lawrence G.

    2013-01-01

    A Mars Sample Return (MSR) mission is the highest priority science mission for the next decade as recommended by the recent Decadal Survey of Planetary Science. However, an affordable program to carry this out has not been defined. This paper describes a study that examined use of emerging commercial capabilities to land the sample return elements, with the goal of reducing mission cost. A team at NASA Ames examined the feasibility of the following scenario for MSR: A Falcon Heavy launcher injects a SpaceX Dragon crew capsule and trunk onto a Trans Mars Injection trajectory. The capsule is modified to carry all the hardware needed to return samples collected on Mars including a Mars Ascent Vehicle (MAV), an Earth Return Vehicle (ERV) and Sample Collection and Storage hardware. The Dragon descends to land on the surface of Mars using SuperSonic Retro Propulsion (SSRP) as described by Braun and Manning [IEEEAC paper 0076, 2005]. Samples are acquired and deliverd to the MAV by a prelanded asset, possibly the proposed 2020 rover. After samples are obtained and stored in the ERV, the MAV launches the sample-containing ERV from the surface of Mars. We examined cases where the ERV is delivered to either low Mars orbit (LMO), C3 = 0 (Mars escape), or an intermediate energy state. The ERV then provides the rest of the energy (delta V) required to perform trans-Earth injection (TEI), cruise, and insertion into a Moon-trailing Earth Orbit (MTEO). A later mission, possibly a crewed Dragon launched by a Falcon Heavy (not part of the current study) retrieves the sample container, packages the sample, and performs a controlled Earth re-entry to prevent Mars materials from accidentally contaminating Earth. The key analysis methods used in the study employed a set of parametric mass estimating relationships (MERs) and standard aerospace analysis software codes modified for the MAV class of launch vehicle to determine the range of performance parameters that produced converged

  3. Recommended Maximum Temperature For Mars Returned Samples

    Science.gov (United States)

    Beaty, D. W.; McSween, H. Y.; Czaja, A. D.; Goreva, Y. S.; Hausrath, E.; Herd, C. D. K.; Humayun, M.; McCubbin, F. M.; McLennan, S. M.; Hays, L. E.

    2016-01-01

    The Returned Sample Science Board (RSSB) was established in 2015 by NASA to provide expertise from the planetary sample community to the Mars 2020 Project. The RSSB's first task was to address the effect of heating during acquisition and storage of samples on scientific investigations that could be expected to be conducted if the samples are returned to Earth. Sample heating may cause changes that could ad-versely affect scientific investigations. Previous studies of temperature requirements for returned mar-tian samples fall within a wide range (-73 to 50 degrees Centigrade) and, for mission concepts that have a life detection component, the recommended threshold was less than or equal to -20 degrees Centigrade. The RSSB was asked by the Mars 2020 project to determine whether or not a temperature requirement was needed within the range of 30 to 70 degrees Centigrade. There are eight expected temperature regimes to which the samples could be exposed, from the moment that they are drilled until they are placed into a temperature-controlled environment on Earth. Two of those - heating during sample acquisition (drilling) and heating while cached on the Martian surface - potentially subject samples to the highest temperatures. The RSSB focused on the upper temperature limit that Mars samples should be allowed to reach. We considered 11 scientific investigations where thermal excursions may have an adverse effect on the science outcome. Those are: (T-1) organic geochemistry, (T-2) stable isotope geochemistry, (T-3) prevention of mineral hydration/dehydration and phase transformation, (T-4) retention of water, (T-5) characterization of amorphous materials, (T-6) putative Martian organisms, (T-7) oxidation/reduction reactions, (T-8) (sup 4) He thermochronometry, (T-9) radiometric dating using fission, cosmic-ray or solar-flare tracks, (T-10) analyses of trapped gasses, and (T-11) magnetic studies.

  4. When is return voluntary? Conditions of asylum in Lebanon

    Directory of Open Access Journals (Sweden)

    Amy Keith

    2018-02-01

    Full Text Available The decision of Syrian refugees in Lebanon to return to Syria must not be based on a deteriorating quality of asylum that creates physical, social and material pressures on decisions to return.

  5. Nurses' views about returning to practice after a career break.

    Science.gov (United States)

    Durand, Mary Alison; Randhawa, Gurch

    Shortages in nursing staff have led to recruitment campaigns targeting nurses who have left the profession. The present study explored reasons why career-break nurses decide for or against a return to practice, as well as perceptions of nursing following return. Semistructured interview were conducted with 24 nurses who had returned recently to the profession and 28 nurses on a "career break". Findings revealed that those who returned did so when their personal circumstances allowed, and half returned as bank nurses in order to work flexible, family-friendly hours. Some non-returners reported that they could not afford to return because of childcare costs. Although still a caring one, the nurse's role is seen by returners as becoming increasingly technologically and administratively demanding. Flexibility with regard to working practices, increased salaries and demonstrating that it values its staff, were highlighted by interviewees generally as priority issues for the NHS if it wishes to recruit career-break nurses.

  6. 26 CFR 40.6091-1 - Place for filing returns.

    Science.gov (United States)

    2010-04-01

    ... EXCISE TAXES EXCISE TAX PROCEDURAL REGULATIONS § 40.6091-1 Place for filing returns. (a) Quarterly... residence of the person. (2) Corporations. Returns of corporations that are filed by hand carrying must be...

  7. Habit formation, surplus consumption and return predictability

    DEFF Research Database (Denmark)

    Engsted, Tom; Hyde, Stuart; Vinther Møller, Stig

    2010-01-01

    On an international post World War II dataset, we use an iterated GMM procedure to estimate and test the Campbell and Cochrane (1999, By force of habit: a consumption-based explanation of aggregate stock market behavior. Journal of Political Economy 107, 205–251.) habit formation model with a time...... empirical support in a variety of different dimensions, including reasonable estimates of risk-free rates. Further, for the majority of countries the surplus consumption ratio captures time-variation in expected returns. Together with the price-dividend ratio, the surplus consumption ratio contains...

  8. Returns to Tenure: Time or Rank?

    DEFF Research Database (Denmark)

    Buhai, Ioan Sebastian

    -specific investment, efficiency-wages or adverse-selection models. However, rent extracting arguments as suggested by the theory of internal labor markets, indicate that the relative position of the worker in the seniority hierarchy of the firm, her 'seniority rank', may also explain part of the observed returns...... to tenure. We build a theoretical framework based on the stochastic evolution of the firm's labour demand and a Last-In-First-Out hiring-firing rule for its workforce, that justifies this idea. The predictions of our model are tested on exhaustive linked employer-employee data from Denmark and Portugal...

  9. Literature, Advertising and Return of the Repressed

    Directory of Open Access Journals (Sweden)

    Francesco Ghelli

    2013-06-01

    Full Text Available Since I have faced with the hypothesis elaborated by Francesco Orlando, according to which literature is a form of return of the repressed, I wondered what – in our era of deregulation, end of censorship and taboos – could occupy the place of the repressed. One of the most influential sociologists, Zygmunt Bauman, has outlined the epochal passage from “the uneasiness in civilization” to today's “uneasiness of freedom”. The problem of desire today would not be a clash with a limit, but an indefinite freedom that is likely to turn into lost, loss of intensity and meaning.

  10. The Returns to Education in Entrepreneurship

    DEFF Research Database (Denmark)

    Iversen, Jens; Malchow-Møller, Nikolaj; Sørensen, Anders

    2011-01-01

    The returns to education in self-employment are addressed in four different specifications of the relationship between log income and years of schooling. The specifications range from a standard Mincer equation with a constant percentage increase in income for an additional year of schooling...... different estimation methods: OLS, Heckit correction models handling sample selection, and IV dealing with the potential endogeneity of years of schooling. Moreover, the results are robust to the use of different sample years, different definitions of self-employment, and different income measures...

  11. Heterogeneity of Human Capital and the Return

    DEFF Research Database (Denmark)

    Madsen, Erik Strøjer

    2015-01-01

    Human capital is an important growth factor for developing and developed countries and measuring the return to education is essential in evaluating the growth impact from human capital. Most studies use the length of education measured by the years of schooling as an indicator of human capital....... However, the quality of education varies a lot across universities and business schools as well as across student within an education institution. The high variations in grades among students reflect the heterogeneity in human capital among students and this study verify how this heterogeneity...

  12. KINERJA KEUANGAN KONVENSIONAL, ECONOMIC VALUE ADDED, DAN RETURN SAHAM

    Directory of Open Access Journals (Sweden)

    Bambang Sudiyatno

    2011-09-01

    Full Text Available Penelitian ini bertujuan untuk menguji pengaruh kinerja keuangan konvensional; Return on Asset (ROA, Return on Equity (ROE, Residual Income (RI, dan kinerja keuangan yang lebih modern; Economic Value Added (EVA terhadap return saham pada perusahaan-perusahaan dalam industry makanan dan minuman yang terdaftar di Bursa Efek Indonesia. Pengambilan sampel dalam penelitian ini menggunakan metode sensus, karena semua perusahaan dalam industry makanan dan minuman digunakan sebagai sampel. Namun dalam proses samplingnya mengunakan metode purposive sampling, yaitu menggunakan sampel dengan criteria-kriteria tertentu. Hasil penelitian menunjukkan bahwa Return on Asset (ROA dan Residual Income (RI berpengaruh positif dan secara statistik signifikan terhadap return saham pada level signifikansi 1%. Sedangkan Return on Equity (ROE berpengaruh negative dan secara statistik signifikan terhadap return saham pada level signifikansi 10%, dan Economic Value Added (ERA berpengaruh positif tetapi tidak signifikan terhadap return saham.This study aims to test the effect of conventional financial performance i.e. Return on Asset (ROA, Return on Equity (ROE, Residual Income (RI, and the more modern financial performance which is Economic Value Added (EVA toward stock returns on companies in the food and beverage industry listed in Indonesia Stock Exchange. Sampling technique in this study uses the census method, all companies in the food and beverage industry are used as a sample. The process of sampling using purposive sampling method. The result shows that Return On Asset (ROA and Residual Income (RI are positive and statistic significant impact on the stock returns at significance level 1%. While the Return on Equity (ROE is negative and statistic significant impact on the stock returns at significance level 10%, Economic Value Added (EVA is positive and statistic not significant impact on the stock returns.

  13. Global Variance Risk Premium and Forex Return Predictability

    OpenAIRE

    Aloosh, Arash

    2014-01-01

    In a long-run risk model with stochastic volatility and frictionless markets, I express expected forex returns as a function of consumption growth variances and stock variance risk premiums (VRPs)—the difference between the risk-neutral and statistical expectations of market return variation. This provides a motivation for using the forward-looking information available in stock market volatility indices to predict forex returns. Empirically, I find that stock VRPs predict forex returns at a ...

  14. 76 FR 62689 - Tax Return Preparer Penalties Under Section 6695

    Science.gov (United States)

    2011-10-11

    ... Tax Return Preparer Penalties Under Section 6695 AGENCY: Internal Revenue Service (IRS), Treasury... proposed regulations that would modify existing regulations related to the tax return preparer penalties... monitor and to improve compliance with the tax return preparer due diligence requirements of section 6695...

  15. Investigating the excess return of contrarian strategy in the active ...

    African Journals Online (AJOL)

    Obtaining the appropriate rate of return is the most important expectation of investors in the investment process and different statategies have been used by investors to gain a required rate of return. Contrarian strategy is one the strategies used recently to predict the return of stock using the historical information. Contrarian ...

  16. 22 CFR 42.22 - Returning resident aliens.

    Science.gov (United States)

    2010-04-01

    ... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Returning resident aliens. 42.22 Section 42.22... Returning resident aliens. (a) Requirements for returning resident status. An alien shall be classifiable as... presented that: (1) The alien had the status of an alien lawfully admitted for permanent residence at the...

  17. 76 FR 56819 - Centennial Challenges 2012 Sample Return Robot Challenge

    Science.gov (United States)

    2011-09-14

    ... SPACE ADMINISTRATION Centennial Challenges 2012 Sample Return Robot Challenge AGENCY: National... 42 U.S.C. 2451(314)(d). The 2012 Sample Return Robot Challenge is scheduled and teams that wish to... technologies of interest and value to NASA and the nation. The 2012 Sample Return Robot Challenge is a prize...

  18. 26 CFR 44.6091-1 - Place for filing returns.

    Science.gov (United States)

    2010-04-01

    ... EXCISE TAXES TAXES ON WAGERING; EFFECTIVE JANUARY 1, 1955 Administrative Provisions of Special Application to the Taxes on Wagering § 44.6091-1 Place for filing returns. (a) In general. Except as provided... legal residence or principal place of business of the person making the return. (b) Returns of...

  19. The Mauritius stock exchange: Sectoral analysis, risk and return ...

    African Journals Online (AJOL)

    Steps taken to improve market liquidity are also reviewed. The monthly return for a sample of companies is investigated and found to be reasonably high but so is the standard deviation of return. Most companies in the sample show betas that are statistically significant at the 5 per cent level. The correlation of return is also ...

  20. 27 CFR 25.211 - Beer returned to brewery.

    Science.gov (United States)

    2010-04-01

    ... the actual quantity of beer received, expressed in barrels. For cases or bottles, the label may be... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Beer returned to brewery..., DEPARTMENT OF THE TREASURY LIQUORS BEER Beer Returned to Brewery § 25.211 Beer returned to brewery. (a...

  1. 26 CFR 301.6063-1 - Signing of partnership returns.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 18 2010-04-01 2010-04-01 false Signing of partnership returns. 301.6063-1 Section 301.6063-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED....6063-1 Signing of partnership returns. For provisions relating to the signing of returns of partnership...

  2. 75 FR 60309 - Furnishing Identifying Number of Tax Return Preparer

    Science.gov (United States)

    2010-09-30

    ... identifying number unless the IRS directs otherwise. For tax returns or claims for refund filed before January... tax return or claim for refund of tax. The final regulations retain this definition from the proposed.... Consistent with the definition of a tax return preparer under section 7701(a)(36), which requires a...

  3. DETERMINANTS OF RETURN ON EQUITY OF COOPERATIVE BANKS IN POLAND

    Directory of Open Access Journals (Sweden)

    Anna Bieniasz

    2016-03-01

    Full Text Available The aim of the study was to analyse the diversity of return on equity in the cooperative banks in Poland in 2010– 2014. The analysis was conducted using data of the Polish Financial Supervision Authority, on the basis of a modifi ed decomposition rate of return on equity. Assessment of the rate of return on equity was made in a size of banks, as determined by the value of assets. In addition, in order to determine the strength and direction of impact the individual components of the model on the formation of return on equity method was applied functional. The study suggests that cooperative banks eff ectively use the equity, because the rate of return on equity was signifi cantly higher than the rate of return on assets. The average return on assets in 2010–2014 was relatively lower in the largest banks and ranged from 0.7–0.9%, and the smallest banks return on assets was approximately 1%. In turn, the return on equity was higher at banks with major assets (over 200 million PLN. In 2013–2014 the rate of return both on assets and equity expressly declined. The main determinants of changes in return on equity were changing the multiplier reduction of profi t from banking activities by operating costs and costs of banking risk and return on assets, as well as measured result on banking activities.

  4. Platform skin return and retrodirective cross-eye jamming

    CSIR Research Space (South Africa)

    Du Plessis, WP

    2012-01-01

    Full Text Available The effect of platform skin return on retrodirective cross-eye jamming is analysed, allowing the parameters of a cross-eye jammer in the presence of skin return to be determined. The inherently unknown phase of the platform skin return is accounted...

  5. A comparative analysis of returns of various financial asset classes ...

    African Journals Online (AJOL)

    kirstam

    2014-12-09

    Dec 9, 2014 ... long-term investor enjoys that higher return with little additional risk in 20-year and longer annualised returns. The author says that most investors use bonds not to generate higher returns but rather to provide asset class diversification and thus to reduce portfolio risk. Most investors expect their stock ...

  6. Costs-Returns Analysis of Small Ruminant (Sheep) Production in ...

    African Journals Online (AJOL)

    Data collected were analyzed using descriptive statistics and costs-returns analysis. Results from the analysis revealed that a net returns of N1,942,400.00 was realized with N 33.72 made on every naira invested. Sheep production is a profitable farming business, with attractive net return on investment. This study also ...

  7. Yield, irrigation production efficiency and economic returns of ...

    African Journals Online (AJOL)

    ... gross return, net return and benefit-cost ratio exhibited quadratic relationship which can be used for optimising economic return of broccoli under variable irrigation and lateral spacing. The results revealed that drip irrigation system is profitable for broccoli production inspite of high initial investment. Journal of Science and ...

  8. Multiplicative asset exchange with arbitrary return distributions

    Science.gov (United States)

    Moukarzel, Cristian F.

    2011-08-01

    The conservative wealth exchange process derived from trade interactions is modeled as a multiplicative stochastic transference of value, where each interaction multiplies the wealth of the poorest of the two intervening agents by a random gain η = 1 + κ, with κ a random return. Analyzing the kinetic equation for the wealth distribution P(w, t), general properties are derived for arbitrary return distributions π(κ). If the geometrical average of the gain is larger than one, i.e. if langlnηrangπ > 0, in the long time limit a nontrivial equilibrium wealth distribution P(w) is attained. Whenever langlnηrangπ betting, and it turns out to be an exponential P(w) = e - w. We show, however, that our model is never reversible, no matter what π(κ) is. In the condensing phase, the wealth of an agent with relative rank x is found to be w(x, t) ~ extlanglnηrangπ for finite times t. The wealth distribution is consequently P(w) ~ 1/w for finite times, while all wealth ends up in the hands of the richest agent for large times. Numerical simulations are carried out and found to satisfactorily compare with the above-mentioned analytical results.

  9. Return on investment (ROI) proposal preparation guide

    International Nuclear Information System (INIS)

    BOOM, R.J.

    1999-01-01

    Section I: Background Return on Investment (ROI) Proposal Preparation Guide-- Over $1.9M is available to fund fiscal year (FY) 2000 waste minimization projects on the Hanford Site. This money was allocated by the US. Department of Energy Headquarters (DOE-HQ). The U.S. Department of Energy, Richland Operations (RL) and the U.S. Department of Energy, Office of River Protection (ORP) are currently seeking pollution prevention proposals from across the Hanford Site that provide a high return-on-investment (ROI) by reducing waste and associated management costs. Purpose of ROI Training The ROI Proposal Preparation Guide is a tool to assist Hanford waste generators in preparing ROI proposal forms for submittal to RL for funding. The guide describes the requirements for submitting an ROI proposal and provides examples of completed ROI forms. The intent is to assist waste generators in identifying projects that meet the criteria, provide information necessary to complete the ROI forms, and submit a proposal that is eligible to receive funding. This guide accompanies the one-hour training workshop on how to prepare and submit an ROI proposal

  10. Immediate extinction promotes the return of fear.

    Science.gov (United States)

    Merz, Christian J; Hamacher-Dang, Tanja C; Wolf, Oliver T

    2016-05-01

    Accumulating evidence indicates that immediate extinction is less effective than delayed extinction in attenuating the return of fear. This line of fear conditioning research impacts the proposed onset of psychological interventions after threatening situations. In the present study, forty healthy men were investigated in a differential fear conditioning paradigm with fear acquisition in context A, extinction in context B, followed by retrieval testing in both contexts 24h later to test fear renewal. Differently coloured lights served as conditioned stimuli (CS): two CS (CS+) were paired with an electrical stimulation that served as unconditioned stimulus, the third CS was never paired (CS-). Extinction took place immediately after fear acquisition or 24h later. One CS+ was extinguished whereas the second CS+ remained unextinguished to control for different time intervals between fear acquisition and retrieval testing. Immediate extinction led to larger skin conductance responses during fear retrieval to both the extinguished and unextinguished CS relative to the CS-, indicating a stronger return of fear compared to delayed extinction. Taken together, immediate extinction is less potent than delayed extinction and is associated with a stronger renewal effect. Thus, the time-point of psychological interventions relative to the offset of threatening situations needs to be carefully considered to prevent relapses. Copyright © 2016 Elsevier Inc. All rights reserved.

  11. A Mars Sample Return Sample Handling System

    Science.gov (United States)

    Wilson, David; Stroker, Carol

    2013-01-01

    We present a sample handling system, a subsystem of the proposed Dragon landed Mars Sample Return (MSR) mission [1], that can return to Earth orbit a significant mass of frozen Mars samples potentially consisting of: rock cores, subsurface drilled rock and ice cuttings, pebble sized rocks, and soil scoops. The sample collection, storage, retrieval and packaging assumptions and concepts in this study are applicable for the NASA's MPPG MSR mission architecture options [2]. Our study assumes a predecessor rover mission collects samples for return to Earth to address questions on: past life, climate change, water history, age dating, understanding Mars interior evolution [3], and, human safety and in-situ resource utilization. Hence the rover will have "integrated priorities for rock sampling" [3] that cover collection of subaqueous or hydrothermal sediments, low-temperature fluidaltered rocks, unaltered igneous rocks, regolith and atmosphere samples. Samples could include: drilled rock cores, alluvial and fluvial deposits, subsurface ice and soils, clays, sulfates, salts including perchlorates, aeolian deposits, and concretions. Thus samples will have a broad range of bulk densities, and require for Earth based analysis where practical: in-situ characterization, management of degradation such as perchlorate deliquescence and volatile release, and contamination management. We propose to adopt a sample container with a set of cups each with a sample from a specific location. We considered two sample cups sizes: (1) a small cup sized for samples matching those submitted to in-situ characterization instruments, and, (2) a larger cup for 100 mm rock cores [4] and pebble sized rocks, thus providing diverse samples and optimizing the MSR sample mass payload fraction for a given payload volume. We minimize sample degradation by keeping them frozen in the MSR payload sample canister using Peltier chip cooling. The cups are sealed by interference fitted heat activated memory

  12. Not all university degrees yield the same return : private and social returns to higher education for males in Spain

    OpenAIRE

    Ramos Morilla, Xavier

    2006-01-01

    In this paper we use micro data from the Spanish Family Expenditure Survey for 1990 to estimate, for the first time, the private and social rates of return of different university degrees in Spain. We compute internal rates of return and include investment on higher education financed by the public purse to estimate social rates of return. Our main finding is that, as presumed, there is large heterogeneity in rates of return amongst different university

  13. Not All University Degrees Yield the Same Return: Private and Social Returns to Higher Education for Males in Spain

    OpenAIRE

    Xavier Ramos Morilla; Josep Lluís Raymond Bara; Josep Oliver Alonso

    1999-01-01

    In this paper we use micro data from the Spanish Family Expenditure Survey for 1990 to estimate, for the first time, the private and social rates of return of different university degrees in Spain. We compute internal rates of return and include investment on higher education financed by the public purse to estimate social rates of return. Our main finding is that, as presumed, there is large heterogeneity in rates of return amongst different university

  14. What determines the embeddedness of forced return migrants? Rethinking the role of pre- and post-return assistance

    NARCIS (Netherlands)

    Ruben, R.; Houte, M. van; Davids, T.

    2009-01-01

    Return migration is not always a process of simply "going home." Particularly when return is not fully voluntarily, returnees face severe obstacles. This study argues that such return can only become sustainable when returnees are provided with possibilities to become re-embedded in terms of

  15. 75 FR 75439 - Specified Tax Return Preparers Required To File Individual Income Tax Returns Using Magnetic Media

    Science.gov (United States)

    2010-12-03

    .... Submission of a tax return in paper form includes the direct or indirect transmission, sending, mailing, or... other provision of law. The definition of file or filed by a tax return preparer or a specified tax... preparer or a specified tax return preparer in non-electronic form includes the direct or indirect...

  16. Volatility return intervals analysis of the Japanese market

    Science.gov (United States)

    Jung, W.-S.; Wang, F. Z.; Havlin, S.; Kaizoji, T.; Moon, H.-T.; Stanley, H. E.

    2008-03-01

    We investigate scaling and memory effects in return intervals between price volatilities above a certain threshold q for the Japanese stock market using daily and intraday data sets. We find that the distribution of return intervals can be approximated by a scaling function that depends only on the ratio between the return interval τ and its mean . We also find memory effects such that a large (or small) return interval follows a large (or small) interval by investigating the conditional distribution and mean return interval. The results are similar to previous studies of other markets and indicate that similar statistical features appear in different financial markets. We also compare our results between the period before and after the big crash at the end of 1989. We find that scaling and memory effects of the return intervals show similar features although the statistical properties of the returns are different.

  17. The Extinction and Return of Fear of Public Speaking.

    Science.gov (United States)

    Laborda, Mario A; Schofield, Casey A; Johnson, Emily M; Schubert, Jessica R; George-Denn, Daniel; Coles, Meredith E; Miller, Ralph R

    2016-11-01

    Prior studies indicate extinguished fear often partially returns when participants are later tested outside the extinction context. Cues carried from the extinction context to the test context sometimes reduce return of fear, but it is unclear whether such extinction cues (ECs) reduce return of fear of public speaking. Here we assessed return of fear of public speaking, and whether either of two types of ECs can attenuate it. Participants gave speeches of increasing difficulty during an exposure practice session and were tested 2 days later in a different context. Testing occurred in the presence of physical ECs, after mentally rehearsing the exposure session, or without either reminder. Practice reduced fear of public speaking, but fear partially returned at test. Neither physical nor mental ECs reduced partial return of fear of public speaking. The return of extinguished fear of public speaking, although small, was reliable, but not appreciably sensitive to presence of ECs. © The Author(s) 2016.

  18. Phobos Sample Return - a mission to return a sample from a Martian moon

    Science.gov (United States)

    Korablev, Oleg; Koschny, Detlef; Voirin, Thomas

    2016-07-01

    Phobos Sample Return is a mission currently studied by the European Space Agency (ESA), in collaboration with Russia. The main scientific goal is to return about 100 g of sample from the Martian moon Phobos. The current ESA Phase A study has identified a feasible mission with a launch in Sep 2024. It would arrive at Mars in Aug 2025, land on Phobos in April 2026, escape from Mars in September 2026 and bring back a sample to Earth in the summer of 2027. The spacecraft consists of a Propulsion Module (PM), a Lander Module (LM), an Earth Return Vehicle (ERV), and an Earth Reentry Capsule (ERC). A sampling Acquisition Transfer and Containment system (SATCS) composed of a robotic arm, sampling and sealing mechanism is responsible for the surface sampling operations. The PM is responsible for bringing the whole S/C composite into Mars orbit. The Lander/ERV/ERC composite would separate from the PM after Mars Orbit Insertion. After a phase of 1 month spent observing Deimos from a quasi-satellite orbit, the composite would be transferred to Phobos' vicinity for an extensive phase of detailed surface characterization which would allow the selection of the candidate landing site. The S/C would then land on Phobos and remain on the surface for a few weeks. After some initial characterization of the surroundings, the sample would be taken and transferred to the ERC. The ERV with the ERC would leave Phobos and return to Earth; the LM would continue performing surface science on Phobos until several weeks after ERV departure. Shortly before atmospheric entry, the ERC would separate from the ERV to enter the atmosphere safely. After recovery, the sample would be returned into an analysis lab. This presentation will give the latest status of the mission study, and outline future activities.

  19. Quantifying Stock Return Distributions in Financial Markets.

    Science.gov (United States)

    Botta, Federico; Moat, Helen Susannah; Stanley, H Eugene; Preis, Tobias

    2015-01-01

    Being able to quantify the probability of large price changes in stock markets is of crucial importance in understanding financial crises that affect the lives of people worldwide. Large changes in stock market prices can arise abruptly, within a matter of minutes, or develop across much longer time scales. Here, we analyze a dataset comprising the stocks forming the Dow Jones Industrial Average at a second by second resolution in the period from January 2008 to July 2010 in order to quantify the distribution of changes in market prices at a range of time scales. We find that the tails of the distributions of logarithmic price changes, or returns, exhibit power law decays for time scales ranging from 300 seconds to 3600 seconds. For larger time scales, we find that the distributions tails exhibit exponential decay. Our findings may inform the development of models of market behavior across varying time scales.

  20. Modeling conditional correlations of asset returns

    DEFF Research Database (Denmark)

    Silvennoinen, Annastiina; Teräsvirta, Timo

    2015-01-01

    In this paper we propose a new multivariate GARCH model with time-varying conditional correlation structure. The time-varying conditional correlations change smoothly between two extreme states of constant correlations according to a predetermined or exogenous transition variable. An LM-test is d......In this paper we propose a new multivariate GARCH model with time-varying conditional correlation structure. The time-varying conditional correlations change smoothly between two extreme states of constant correlations according to a predetermined or exogenous transition variable. An LM......-test is derived to test the constancy of correlations and LM- and Wald tests to test the hypothesis of partially constant correlations. Analytical expressions for the test statistics and the required derivatives are provided to make computations feasible. An empirical example based on daily return series of five...

  1. Fever of unknown origin in returning travellers.

    Science.gov (United States)

    Korzeniewski, Krzysztof; Gaweł, Bartłomiej; Krankowska, Dagny; Wasilczuk, Katarzyna

    2015-01-01

    The aim of the article is to discuss issues associated with the occurrence of febrile illnesses in leisure and business travellers, with a particular emphasis on fevers of unknown origin (FUO). FUO, apart from diarrhoeas, respiratory tract infections and skin lesions, are one of the most common health problems in travellers to tropical and subtropical countries. FUO are manifestations of various diseases, typically of infectious or invasive aetiology. In one out of 3 cases, the cause of a fever in travellers returning from the hot climate zone is malaria, and therefore diagnostic tests should first aim at ruling out this specific disease entity. Other illnesses with persistent fever include dengue, enteric fever, viral hepatitis A, bacterial diarrhoeas and rickettsioses. Fever may also occur in travellers suffering from diseases of non-tropical origin, e.g. cosmopolitan respiratory tract or urinary tract infections, also, fever may coexist with other illnesses or injuries (skin rashes, bites, burns).

  2. Return analysis of commercial solar thermal devices

    International Nuclear Information System (INIS)

    Kumar, Sanjay

    1994-01-01

    A procedure for assessing the techno-economic viability of solar thermal systems in a dynamic economic environment is developed. It is shown analytically that the period for replacement of these systems depends upon the nature of their use. While determining investment viability, it is necessary to ascertain the exact life of the system. The life of a solar thermal system for non-commercial use is determined by optimum life for replacement, which is not influenced by energy inflation and energy saved. It is a function of maintenance cost and decreases with increases with increase in maintenance cost. For commercial purposes, the lifetime of the system is governed by optimum return on investment mode (Ζ), which is a strong function of energy inflation and energy saved per unit capital cost. (author)

  3. The return map: tracking product teams.

    Science.gov (United States)

    House, C H; Price, R L

    1991-01-01

    With a new product, time is now more valuable than money. The costs of conceiving and designing a product are less important to its ultimate success than timeliness to market. One of the most important ways to speed up product development is through interfunctional teamwork. The "Return Map," developed at Hewlett-Packard, provides a way for people from different functions to triangulate on the product development process as a whole. It graphically represents the contributions of all team members to the moment when a project breaks even. It forces the team to estimate and re-estimate the time it will take to perform critical tasks, so that products can get out fast. It subjects the team to the only discipline that works, namely, self-discipline. The map is, in effect, a graph representing time and money, where the time line is divided into three phases: investigation, development, and manufacturing and sales. Meanwhile, costs are plotted against time--as are revenues when they are realized after manufacturing release. Within these points of reference, four novel metrics emerge: Break-Even-Time, Time-to-Market, Break-Even-After-Release, and the Return Factor. All metrics are estimated at the beginning of a project to determine its feasibility, then they are tracked carefully while the project evolves to determine its success. Missed forecasts are inevitable, but managers who punish employees for missing their marks will only encourage them to estimate conservatively, thus building slack into a system meant to eliminate slack. Estimates are a team responsibility, and deviations provide valuable information that spurs continuous investigation and improvement.

  4. The Fifth Slovene Hamlet: Return to Tradition?

    Directory of Open Access Journals (Sweden)

    Moe Marija Zlatnar

    2017-12-01

    Full Text Available Over the nearly two centuries that Hamlet has been a fixture of the Slovene cultural firmament, the complete text has been translated five times, mostly by highly esteemed figures of Slovene literature and literary translation. This article focuses on the most recent translation, which was done by the prominent Slovene drama translator Srečko Fišer for a performance at the National Theatre in Ljubljana in 2013. It examines the new translation’s relations to its source text as well as to the previous translations. After the late twentieth century, when Hamlet was regarded as a text to be challenged, this new translation indicates the return to the tradition of reverence both for the source text and its author, and for the older translations. This is demonstrated on all levels, from the choice of source text edition, which seems to bear more similarities with the older translations than with the most recent predecessors, to the style, which echoes the solutions used by the earlier translators. Fišer continues the Slovenian tradition to a far greater extent than the two translators twenty years ago, by using the same strategies as the early translators, not fixing what was not broken, and only adding his own interpretation to the existing ones, instead of challenging or ignoring them. At the same time, however, traces of subversion of the source text can be detected, not in the form of rebellion, but rather as a mild disregard. This latest translation is the first one to frequently reshuffle the text. It is also the first to subordinate meaning to style. This all indicates that despite the apparent return to tradition, the source text is no longer treated with the reverence of the past.

  5. Energy Return on Investment - Fuel Recycle

    International Nuclear Information System (INIS)

    Halsey, W.; Simon, A.J.; Fratoni, M.; Smith, C.; Schwab, P.; Murray, P.

    2012-01-01

    This report provides a methodology and requisite data to assess the potential Energy Return On Investment (EROI) for nuclear fuel cycle alternatives, and applies that methodology to a limited set of used fuel recycle scenarios. This paper is based on a study by Lawrence Livermore National Laboratory and a parallel evaluation by AREVA Federal Services LLC, both of which were sponsored by the DOE Fuel Cycle Technologies (FCT) Program. The focus of the LLNL effort was to develop a methodology that can be used by the FCT program for such analysis that is consistent with the broader energy modeling community, and the focus of the AREVA effort was to bring industrial experience and operational data into the analysis. This cooperative effort successfully combined expertise from the energy modeling community with expertise from the nuclear industry. Energy Return on Investment is one of many figures of merit on which investment in a new energy facility or process may be judged. EROI is the ratio of the energy delivered by a facility divided by the energy used to construct, operate and decommission that facility. While EROI is not the only criterion used to make an investment decision, it has been shown that, in technologically advanced societies, energy supplies must exceed a minimum EROI. Furthermore, technological history shows a trend towards higher EROI energy supplies. EROI calculations have been performed for many components of energy technology: oil wells, wind turbines, photovoltaic modules, biofuels, and nuclear reactors. This report represents the first standalone EROI analysis of nuclear fuel reprocessing (or recycling) facilities.

  6. Better understanding flow-restricted environments from hideout return analyses

    International Nuclear Information System (INIS)

    Ollar, Ph.; Viricel-Honorez, L.

    1998-01-01

    Understanding and controlling the chemical phenomena in flow-restricted areas of the secondary side of steam generators (SG) is a key point in fighting against corrosion (IGA) in these areas. Hence, more than 150 hideout returns from French plants are used to assess the chemical environment in flow-restricted areas. The influence of several parameters such as tube support plates design, SG blowdown flowrate and temperature at the end of hideout returns, on returned weights and on flow-restricted environments predicted by modelling are examined. A correlation between different operating and returned chemistry indexes (molar ratios), and IGA is sought: no link is found between IGA and Na/Cl molar ratio at the beginning of hideout returns. However, as IGA extends, the returned weights of sodium and chloride seem to decrease, suggesting a greater hideout and a lower hideout return efficiency, perhaps due to SG fouling, and/or a smaller hideout/hideout return thanks to an improved operating chemistry. Using the pH computed from hideout return data as an index for the presence of IGA is also studied: no correlation is found between the two. Improving plants chemistry is finally proposed, based on an optimization of hideout returns. (authors)

  7. MANAJEMEN LABA, RETURN SAHAM, DAN KINERJA OPERASI SEBAGAI PEMODERASI

    Directory of Open Access Journals (Sweden)

    Farid Addy Sumantri

    2017-09-01

    Full Text Available The purpose of this study was to determine the indications of the practice of earnings management at the time of the IPO, one year after the IPO, and two years after the IPO. This study also examined the effect of earnings management on stock returns and operating performance in moderating the relationship between earnings management and stock returns. The study sample comprised 33 firms that go public in the year 2007 to 2011 using a purposive sampling method. Earnings management is proxied by discretionary accruals using the Modified Jones Model, which used proxy for the stock return is cummulative abnormal returns (CAR, while for the company's operating performance used proxy for the return on assets (ROA. The results showed that there were indications of earnings management at the time of the IPO, one year after the IPO, and two years after the IPO with a lower profit rate. No effect on earnings management is proxied by stock return cummulative abnormal returns (CAR. Operating performance of the company also can not moderate the relationship between earnings management with stock return.   Keywords: Earning Management, Initial Public Offering, Cummulative Abnormal Return, Return On Asset

  8. The (Return to Infrastructure for Water Management?

    Directory of Open Access Journals (Sweden)

    Britt Crow-Miller

    2017-06-01

    Full Text Available This paper introduces the papers in this special issue and uses them as evidence through which to examine four questions. First: are we witnessing a widespread (return to big infrastructure projects for water management? The evidence suggests that large-scale infrastructure development has remained largely unswayed by the 'ecological turn', or the promotion of demand management or 'soft path' thinking, despite a drop in investments observed at the turn of the 20th century. Second: do these new projects have different justifications from those of the past? The papers in this issue provide evidence that the need to justify capital-intensive infrastructure in the face of commitments to sustainability, while borrowing from the conventional grammar of project justifications, has generated a few innovative tropes and rhetorical devices. Third: what does a (return (or enduring commitment to big infrastructure tells us about the governance and wider politics of large-scale infrastructure problems? Some of the traditional interest groups are well represented in the stories told here – the corporations that demand water or compete to build pipes and dams; the large-scale irrigators that rely on water to expand their production; the engineers and consultants who seek money, prestige, career advancement or even satisfaction from 'controlling' nature; the politicians who can extract 'rents' from all this activity. Even so, the history of each particular project involves many contingencies – of the society’s history, of previous rounds of infrastructure and of capital availability. Fourth: have there been changes in the scale at which water is managed within countries? In general, it seems there has been an increase in the scale of projects, generally involving a shift in power away from regional and up to multi-regional agencies of governance, such as the central state. Sometimes these shifts in scale and power have no effect on the salience of local

  9. Precautionary Principle and Mars Sample Return

    Science.gov (United States)

    Arnould, Jacques

    Many space missions have today as an aim the exploration and the knowledge of the planet Mars; consequently, the return of Martian samples seems one of the next possible stages, at the horizon of about fifteen years. Devoted in the search of traces of life, passed or presents, such a mission presents a true stake not only from the scientific point of view but also from the ethical. Right now, the COSPAR specified the precautions to be taken to avoid or, at the very least, to limit the risk of contamination of the terrestrial biosphere by pathogenic the hitherto unknown ones. Are these recommendations sufficient? Do they concern only the scientific prudence or take truly counts of the good of humanity and the life on Earth? In the final analysis, is the incurred risk, even weak, to endanger this life worth the sorrow of it? Hitherto confined with the scientific circles of astronomy and astrobiology, this questioning could move the public opinion and this one would undoubtedly call some with the principle of precaution. In what this recourse would be relevant? The precaution aims indeed the hypothetical risks, not yet confirmed scientifically, but of which the possibility can be identified starting from empirical and scientific knowledge; such is well the case. But is it for as much possible to apply this principle to the case of the Martian samples, insofar as the objective of such a mission remains for the strictly scientific moment? Is it possible to manage the risks in the same manner when it is a question of appropriation and exploitation of the natural resources and energy (GMO, nuclear energy, etc.) and when it acts, in the case of Mars, that only search of the knowledge? How to manage the fundamental difference between the risks voluntarily taken and arbitrarily imposed, clarified and keep silent? The case of the return of the samples leads to the borders of the contemporary interrogations on the stakes and the benefits of science, on the share of risk

  10. DETERMINAN RETURN SAHAM SYARIAH DENGAN RISIKO SISTEMATIS SEBAGAI VARIABEL MEDIASI

    Directory of Open Access Journals (Sweden)

    irman firmansyah

    2016-10-01

    Full Text Available Islamic capital market is the investment alternatives in accordance with Islamic law. However, the purpose of investing is to obtain a high return stock. This study aimed to analyze the fundamental factors in predicting stock return of sharia with systematic risk as a mediating variable. Fundamental factors measured by DER, EPS, ROA, PER and NPM and systematic risk measured by beta. Data taken from the Islamic capital market through the Jakarta Islamic Index (JII in a span of research in 2013 and 2014. The analysis used is multiple regression analysis and Sobel test. The results showed that DER and PER positive effect on sharia stock return, beta negative effect on sharia stock return and EPS, ROA and NPM no effect on sharia stock return. Whereas in mediating variable testing, the beta did not mediate the relationship between DER, EPS, ROA, NPM and PER to sharia stock return.

  11. Return to play following anterior cruciate ligament reconstruction.

    Science.gov (United States)

    Ellman, Michael B; Sherman, Seth L; Forsythe, Brian; LaPrade, Robert F; Cole, Brian J; Bach, Bernard R

    2015-05-01

    In athletes, significant advances in anterior cruciate ligament reconstruction techniques and rehabilitation have led to improved surgical outcomes and increased expectations for return to play. Although an expeditious return to sport has become an achievable and often realistic goal, the factors that most influence safe, timely, and successful return to play remain unknown. The literature offers mainly anecdotal evidence to guide the team physician in the decision-making process, with a paucity of criteria and consensus guidelines available to help determine return to sport. Attempts have been made to introduce criteria-based progression in the rehabilitation process, but validation of subjective and objective criteria has been difficult. Nevertheless, several pertinent factors in the preoperative, intraoperative, and postoperative periods may affect return to play following anterior cruciate ligament reconstruction. Further research is warranted to validate reliable, consensus guidelines with objective criteria to facilitate the return to play process. Copyright 2015 by the American Academy of Orthopaedic Surgeons.

  12. Policy for returning to fisheries in Korea

    Directory of Open Access Journals (Sweden)

    Jihoon Kim

    2016-07-01

    Full Text Available Korea’s fishing industry is currently facing problems involving an aging society and lack of successors in fishing villages. Therefore, the Korea Ministry of Oceans and Fisheries (KMOF has implemented a policy supporting U-turn fishers, who leave their place of origin for a job and then return home or move to where they can work in the fishing industry. Moreover, some local governments have established a policy for U-turn fishers. The KMOF policy is a financial support program with low interest rates and lengthy reimbursement periods; however, few beneficiaries exist. Meanwhile, local government policy benefits most persons in corresponding areas. However, the sums are relatively small, and only two local governments have enacted the policy. This study determines the performance of the policy through indepth interviews and a survey. The results indicate that KMOF policy may be limited in terms of its scope. In addition, noneconomic support programs, such as fishing education, harmony between existing fishers, and the acquisition of fishery rights, are required. The number of U-turn fishers will continue to increase as the baby boomer generation nears retirement and unemployment of youth increases. As such, the Korean government needs to improve the policy in keeping with the times.

  13. The return of Vaman a scientific novel

    CERN Document Server

    Narlikar, Jayant V

    2015-01-01

    This collection of science fiction writings by Jayant V. Narlikar offers readers a unique glimpse into the world-famous Indian astrophysicist’s vivid and highly imaginative concepts and stories.   The fictional material comprises a witty short story ("The rare idol of Ganesha") that cleverly explores the possible consequences of a mirror-symmetric individual in the context of cricket test match performances, as well as the fast-paced, gripping science fiction thriller "The return of Vaman": when an alien container is unearthed by a crew of scientists, the enormous potential technological applications of its contents bring various criminal elements on the scene – but when the real danger becomes apparent it is almost too late to save humanity.   Last but not least, the book provides readers with extensive insights into the genesis and scientific background of the fictional material presented in this volume, along with an autobiographical account of the author’s life-long interest in science fiction and...

  14. Return on equity of furniture industry

    Directory of Open Access Journals (Sweden)

    Jan Štěpánek

    2013-01-01

    Full Text Available Economic efficiency of the furniture production is closely associated with high input costs. Despite the fact that the material makes up 80% of total costs, there were 7,908 active furniture manufacturing companies in 2011 in the Czech Republic and they generated sales of nearly 30,812,199 thousand with an added value of CZK 9,592,032 thousands CZK and employed nearly 22,000 people. The aim of this paper is to assess the development of economic efficiency ratio indicator using return on equity (ROE hereinafter. The evaluation method was developed using statistical methods. The sample included 107 enterprises with more than 50 employees. For each company of the sample the ROE ratio was calculated and descriptive statistics and correlation analysis followed. Average ROE was 3.54% and the median was 3.3% in 2011. ROE of the sample in 2011 decreased compared to the base year 2007, which was the peak of the economic boom, the arithmetic average decreased by 74.68% and a median decrease was 63.7%. The linear trend of the sample and of the entire manufacturing industry had almost identical falling course of ROE development unlike the furniture industry in the Czech Republic. When using correlation analysis the tightness was in the arithmetic average of 30.42% and the tightness of the median was 39.00%.

  15. [Cannabis, hemp and hashish: always returning].

    Science.gov (United States)

    Fabre, André-Julien

    2006-01-01

    Cannabis has a long story, the story of an endless return through ages and countries, all over the world. There is no mention of an "hedonist" use of cannabis in Ancient Greek or Roman sources but cannabism is largely attested in Orient as early as in the Middle Ages, even if many tales about Haschishins and Crusaders remain highly controversial. The "come back" of cannabism can be traced back in Europe at the end of XVIIIth century after the Egyptian campaigns of Bonaparte. Thus was launched an increasing vogue of orientalism, soonly after followed by the emergence of cannabism in Paris or London and, half a century later, the United States. After a brief armistice, cannabis rises up again with force at the end of XXth century, all over the world. In our times cannabis remains in the centre of all discussions about hallucinogen substances and many ethical, moral or medical questions are still unanswered. Our final comments will go to the everlasting "come back" of cannabism: search of exotism, attempt to escape from reality or as suggested by recent physiologic studies, close inter-relations between sensorial paths and the upper brainstem centers.

  16. Should athletes return to activity after cryotherapy?

    Science.gov (United States)

    Pritchard, Kimberly A; Saliba, Susan A

    2014-01-01

    Bleakley CM, Costello JT, Glasgow PD. Should athletes return to sport after applying ice? A systematic review of the effect of local cooling on functional performance. Sports Med. 2012; 42(1):69-87. Does local tissue cooling affect immediate functional performance outcomes in a sport situation? Studies were identified by searching MEDLINE, the Cochrane Central Register of Controlled Trials, and EMBASE, each from the earliest available record through April 2011. Combinations of 18 medical subheadings or key words were used to complete the search. Study Selection : This systematic review included only randomized controlled trials and crossover studies published in English that examined human participants who were treated with a local cooling intervention. At least 1 functional performance outcome that was measured before and after a cooling intervention had to be reported. Excluded were studies using whole-body cryotherapy or cold-water immersion above the waist and studies that measured strength or force production during evoked muscle contraction. Data were extracted by 2 authors using a customized form to evaluate relevant data on study design, eligibility criteria, detailed characteristics of cooling protocols, comparisons, and outcome measures. Disagreement was resolved by consensus or third-party adjudication. To perform an intent-to-treat analysis when possible, data were extracted according to the original allocation groups, and losses to follow-up were noted. The review authors were not blinded to the study author, institution, or journal. For each study, mean differences or standardized mean differences and 95% confidence intervals were calculated for continuous outcomes using RevMan (version 5.1; The Nordic Cochrane Centre, Copenhagen, Denmark). Treatment effects were based on between-groups comparisons (cryotherapy versus control) using postintervention outcomes or within-group comparisons (precryotherapy versus postcryotherapy). If continuous data were

  17. ANALYSIS MODEL FOR RETURN ON CAPITAL EMPLOYED

    Directory of Open Access Journals (Sweden)

    BURJA CAMELIA

    2013-02-01

    Full Text Available At the microeconomic level, the appreciation of the capitals’ profitability is a very complex action which is ofinterest for stakeholders. This study has as main purpose to extend the traditional analysis model for the capitals’profitability, based on the ratio “Return on capital employed”. In line with it the objectives of this work aim theidentification of factors that exert an influence on the capital’s profitability utilized by a company and the measurementof their contribution in the manifestation of the phenomenon. The proposed analysis model is validated on the use caseof a representative company from the agricultural sector. The results obtained reveal that in a company there are somefactors which can act positively on the capitals’ profitability: capital turnover, sales efficiency, increase the share ofsales in the total revenues, improvement of the expenses’ efficiency. The findings are useful both for the decisionmakingfactors in substantiating the economic strategies and for the capital owners who are interested in efficiency oftheir investments.

  18. [Fever in children returning from travel].

    Science.gov (United States)

    Sorge, F; Velayudhan-Deschamps, N; Faye, A; Blondé, R; Naudin, J

    2016-04-01

    Child travelers are numerous, exposed to the risk of diseases, both infectious and noninfectious, for which practitioners often lack experience. The assessment of febrile returning child travelers is becoming more frequent and challenging. The question of previous travel should be foremost in the checklist of the interview of any febrile child traveler, because this implies a possible tropical disease such as malaria that may be life-threatening. These need to be investigated and treated effectively and rapidly. There are highly contagious infections that could pose public health risks requiring implementation of hygienic and public health measures. A detailed immunization, medical, and travel history for exposure to infectious risks using geographic, seasonal, environmental, sociocultural, and epidemiological data are needed. Along with clinical examination and elementary first-line investigations, the history should guide second-line exams, which will provide the etiology and optimal treatment in approximately 75 % of cases. The majority of children will have a cosmopolitan infection that resolves spontaneously or is simple to treat. Malaria will need urgent and specific treatment. This article describes guidance on first-line evaluation and management of febrile child travelers as recommended in France. Copyright © 2016 Elsevier Masson SAS. All rights reserved.

  19. The meaning, modalities and consequences of return migration.

    Science.gov (United States)

    1986-03-01

    Return migration and its consequences has attracted increasing attention since Western European countries adopted policies in the mid 1970s to stop the inflow of foreign workers and to promote reintegration of emigrants. This paper explores the definition of return migration, discusses the different contexts in which return migration arises, and points out the many gaps that exist in understanding return migration and its consequences. The report concludes that there is no consensus on the definition of return migration; future advances in its analysis and measurement depend on the availability of specific criteria to distinguish return movements from other migration taking place in the world today. Also, relatively little attention has been devoted to return flows of migrants in developing countries due to paucity of information and fluidity of some of the movements involved. Yet another area for concern is the lack of information pertaining to female emigrants. Some recommendations that may lead to the eventual satisfaction of these needs include: 1) defining returnees as persons who, having the nationality of the country that they are entering, have spent at least one year abroad and have returned with the intention of staying at least one year in the country of their nationality; 2) having coontries with important emigration flows monitor return migration by gathering and publishing information on returning migrants; 3) giving particular attention to the problems faced by female returnees and adopting measures to ensure equal aid to males and females; 4) studying and monitoring the consequences of return migration on whole families instead of on only certain members of the family; 5) monitoring the consequences of sizeable repatriation flows, giving particular attention to the success of reintegration programs; 6) developing novel methods to monitor and study the impact of return flows of emigrants whose situation in the receiving state was irregular.

  20. 26 CFR 26.7701-1 - Tax return preparer.

    Science.gov (United States)

    2010-04-01

    ... TAXES GENERATION-SKIPPING TRANSFER TAX REGULATIONS UNDER THE TAX REFORM ACT OF 1986 § 26.7701-1 Tax return preparer. (a) In general. For the definition of a tax return preparer, see § 301.7701-15 of this... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Tax return preparer. 26.7701-1 Section 26.7701...

  1. Return handling options and order quantities for single period products

    OpenAIRE

    Vlachos, D.; Dekker, R.

    2000-01-01

    textabstractProducts which are sold through E-commerce or mail sales catalogues tend to have a much higher return rate than traditional products. The returns are especially problematic for seasonal products. To support decision making in these situations we study various options, which may be considered as strategic decisions, on handling the increased return flow. Closed form analytic expressions for optimal order quantities are obtained by solving the models developed for each option. Decis...

  2. Venture capital returns, new firms and social networks

    OpenAIRE

    Ewens, Michael

    2010-01-01

    These chapters study the return of venture capital investments with a focus on outliers and examine the formation of new firms that invest in entrepreneurial companies. First, I formulate a model and estimator of venture capital (VC) returns motivated by the entrepreneurial firm life-cycle and the extreme return outcomes of typical venture capital investments. The model incorporates tail events and the estimator corrects for sample selection bias and endogenous investment holding periods. I f...

  3. Geology of Potential Landing Sites for Martian Sample Returns

    Science.gov (United States)

    Greeley, Ronald

    2003-01-01

    This project involved the analysis of potential landing sites on Mars. As originally proposed, the project focused on landing sites from which samples might be returned to Earth. However, as the project proceeded, the emphasis shifted to missions that would not include sample return, because the Mars Exploration Program had deferred sample returns to the next decade. Subsequently, this project focused on the study of potential landing sites for the Mars Exploration Rovers.

  4. Pricing Volatility of Stock Returns with Volatile and Persistent Components

    DEFF Research Database (Denmark)

    Zhu, Jie

    2009-01-01

    This paper introduces a two-component volatility model based on first moments of both components to describe the dynamics of speculative return volatility. The two components capture the volatile and the persistent part of volatility, respectively. The model is applied to 10 Asia-Pacific stock ma...... markets. A positive or risk-premium effect exists between the return and the volatile component, yet the persistent component is not significantly priced for the return dynamic process....

  5. Evaluation of the return rate of volunteer blood donors

    Directory of Open Access Journals (Sweden)

    Adriana de Fátima Lourençon

    2011-06-01

    Full Text Available BACKGROUND: To convert first-time blood donors into regular volunteer donors is a challenge to transfusion services. OBJECTIVES: This study aims to estimate the return rate of first time donors of the Ribeirão Preto Blood Center and of other blood centers in its coverage region. METHODS: The histories of 115,553 volunteer donors between 1996 and 2005 were analyzed. Statistical analysis was based on a parametric long-term survival model that allows an estimation of the proportion of donors who never return for further donations. RESULTS: Only 40% of individuals return within one year after the first donation and 53% return within two years. It is estimated that 30% never return to donate. Higher return rates were observed among Black donors. No significant difference was found in non-return rates regarding gender, blood type, Rh blood group and blood collection unit. CONCLUSIONS: The low percentage of first-time donors who return for further blood donation reinforces the need for marketing actions and strategies aimed at increasing the return rates.

  6. Application of the theory of planned behavior to fraudulent returning

    Directory of Open Access Journals (Sweden)

    Radoslav Škapa

    2012-01-01

    Full Text Available Proper return policy provides an additional value for customers and therefore it can be a beneficial instrument in business strategy of a company. However, its efficiency is harmed due to the return fraud that increases the total cost for reprocessing of returned products. The article contributes to the discussion of factors that stimulate and discourage the return fraud in the retail by suggesting a model, which is proposed on the basis of the theory of planned behavior. Path analysis was conducted with the data of 207 respondents to test the validity of the model.

  7. Informational Content of Open-to-Close Stock Returns

    OpenAIRE

    Kudryavtsev, Andrey

    2015-01-01

    In the present study, I explore interday correlations between open-to-close and opening stock returns. Employing intraday price data on all the stocks that were S&P 500 Index constituents during the period from 1993 to 2013, I find that stock returns in opening trading sessions systematically tend to be higher following days with relatively low (either negative, or lower than the same day's market) open-to-close returns. Moreover, I explicitly document the tendency of opening stock returns to...

  8. Return to the Workforce After First Hospitalization for Heart Failure

    DEFF Research Database (Denmark)

    Rørth, Rasmus; Wong, Chih; Kragholm, Kristian

    2016-01-01

    Background: Return to work is important financially, as a marker of functional status and for self-esteem in patients developing chronic illness. We examined return to work after first heart failure (HF) hospitalization. Methods: By individual-level linkage of nationwide Danish registries, we...... with lower chance of return to work. Conclusions: Patients in the workforce before HF hospitalization had low mortality but high risk of detachment from the workforce 1 year later. Young age, male sex, and a higher level of education were predictors of return to work....

  9. Returns on Investment in California County Departments of Public Health

    Science.gov (United States)

    2016-01-01

    Objectives. To estimate the average return on investment for the overall activities of county departments of public health in California. Methods. I gathered the elements necessary to estimate the average return on investment for county departments of public health in California during the period 2001 to 2008–2009. These came from peer-reviewed journal articles published as part of a larger project to develop a method for determining return on investment for public health by using a health economics framework. I combined these elements by using the standard formula for computing return on investment, and performed a sensitivity analysis. Then I compared the return on investment for county departments of public health with the returns on investment generated for various aspects of medical care. Results. The estimated return on investment from $1 invested in county departments of public health in California ranges from $67.07 to $88.21. Conclusions. The very large estimated return on investment for California county departments of public health relative to the return on investment for selected aspects of medical care suggests that public health is a wise investment. PMID:27310339

  10. Risk-Return Trade-Off for European Stock Markets

    DEFF Research Database (Denmark)

    Aslanidis, Nektarios; Christiansen, Charlotte; Savva, Christos S.

    This paper adopts dynamic factor models with macro-finance predictors to revisit the intertemporal risk-return relation in five large European stock markets. We identify country specific, Euro area, and global factors to determine the conditional moments of returns considering the role of higher......-order moments as additional measures of risk. The preferred combination of factors varies across countries. In the linear model, there is a strong but negative relation between conditional returns and conditional volatility. A Markov switching model describes the risk-return trade-off well. A number...... of variables have explanatory power for the states of the European stock markets....

  11. Are there Diminishing Returns to R&D?

    DEFF Research Database (Denmark)

    Madsen, Jakob B.

    Semi-endogenous models and, to some extent, also Schumpeterian models are based on the assumption of diminishing returns to R&D. This paper shows that the null hypothesis of constant returns to R&D cannot be rejected for the OECD countries......Semi-endogenous models and, to some extent, also Schumpeterian models are based on the assumption of diminishing returns to R&D. This paper shows that the null hypothesis of constant returns to R&D cannot be rejected for the OECD countries...

  12. Return Migration among Elderly, Chronically Ill Bosnian Refugees

    DEFF Research Database (Denmark)

    Handlos, Line Neerup; Olwig, Karen Fog; Bygbjerg, Ib Christian

    2015-01-01

    Elderly migrants constitute a considerable share of global return migration; nevertheless, literature on the health aspects of the return migration among these migrants is still scarce. This study explores the significance of return migration among elderly, chronically ill Bosnian refugees from...... Denmark and the role of health issues in their decision to return. It is based on semi-structured interviews with 33 elderly, chronically ill Bosnian refugees who have moved back to Bosnia and Herzegovina, and 10 elderly, chronically ill Bosnian refugees who have remained in Denmark. The interviews show...

  13. Market Skewness Risk and the Cross Section of Stock Returns

    DEFF Research Database (Denmark)

    Young Chang, Bo; Christoffersen, Peter F.; Jacobs, Kris

    2013-01-01

    The cross section of stock returns has substantial exposure to risk captured by higher moments of market returns. We estimate these moments from daily Standard & Poor's 500 index option data. The resulting time series of factors are genuinely conditional and forward-looking. Stocks with high...... exposure to innovations in implied market skewness exhibit low returns on average. The results are robust to various permutations of the empirical setup. The market skewness risk premium is statistically and economically significant and cannot be explained by other common risk factors such as the market...... excess return or the size, book-to-market, momentum, and market volatility factors, or by firm characteristics....

  14. Do expectancies of return to work and Job satisfaction predict actual return to work in workers with long lasting LBP?

    Science.gov (United States)

    Opsahl, Jon; Eriksen, Hege R; Tveito, Torill H

    2016-11-17

    Musculoskeletal disorders including low back pain have major individual and socioeconomic consequences as it often leads to disability and long-term sick leave and exclusion from working life. Predictors of disability and return to work often differ, and the dominant knowledge is on predictors for prolonged sick leave and disability. Therefore it is also important to identify key predictors for return to work. The aim of the study was to assess if overall job satisfaction and expectancies of return to work predicts actual return to work after 12 months, among employees with long lasting low back pain, and to assess if there were gender differences in the predictors. Data from the Cognitive interventions and nutritional supplements trial (CINS Trial) was used. Predictors for return to work were examined in 574 employees that had been on sick leave 2-10 months for low back pain, before entering the trial. Data were analysed with multiple logistic regression models stratified by gender, and adjusted for potential confounders. Regardless of gender high expectancies were a strong and significant predictor of return to work at 12 months, while high levels of job satisfaction were not a significant predictor. There were no differences in the levels of expectancies or overall job satisfaction between men and women. However, men had in general higher odds of returning to work compared with women. Among individuals with long lasting low back pain high expectancies of returning to work were strongly associated with successful return to work. We do not know what factors influence individual expectancies of return to work. Screening expectancies and giving individuals with low expectancies interventions with a goal to change expectancies of return to work, such as CBT or self-management interventions, may contribute to increase actual return to work. http://www.clinicaltrials.gov/ , with registration number NCT00463970 . The trial was registered at the 18th of April 2007.

  15. Return to Driving After Hip Arthroscopy.

    Science.gov (United States)

    Momaya, Amit M; Stavrinos, Despina; McManus, Benjamin; Wittig, Shannon M; Emblom, Benton; Estes, Reed

    2017-07-11

    The objective of this study was to evaluate patients' braking performance using a modern driving simulator after undergoing a right hip arthroscopy. This prospective study included 5 total driving sessions at which measurements were taken. The study was conducted at an academic medical center. A total of 14 patients scheduled to undergo a right hip arthroscopy were enrolled and compared with a control group of 17 participants to account for a potential learning phenomenon. Patients drove in the simulator preoperatively to establish a baseline, and then drove again at 2, 4, 6, and 8 weeks postoperatively. The control group did not undergo any type of surgical procedure. The main independent variable was time from surgery. A modern driving simulator was used to measure initial reaction time (IRT), throttle release time (TRT), foot movement time (FMT), and brake travel time (BTT). The braking reaction time (BRT) was calculated as the sum of IRT + TRT + FMT, and the total braking time (TBT) was calculated as the sum of BRT + BTT. The experimental group showed no significant changes in BTT (P = 0.11, ηG = 0.04) nor TBT (P = 0.20, ηG = 0.03) over the duration of 8 weeks. Although the experimental group did exhibit significant improvements in IRT (P = 0.002), TRT (P < 0.0001), FMT (P < 0.0001), and BRT (P = 0.0002) between preoperative and 2 weeks postoperative driving sessions, there were no significant changes thereafter. The mean preoperative TBT and 2 weeks postoperative TBT for the experimental group were 3.07 seconds (SD = 0.50) and 2.97 seconds (SD = 0.57), respectively. No learning phenomenon was observed in the control group. This study's findings suggest that patients may return to driving 2 weeks postoperatively from a right-sided hip arthroscopy procedure.

  16. Sample Return: What Happens to the Samples on Earth?

    Science.gov (United States)

    McNamara, Karen

    2010-01-01

    As space agencies throughout the world turn their attention toward human exploration of the Moon, Mars, and the solar system beyond, there has been an increase in the number of robotic sample return missions proposed as precursors to these human endeavors. In reality, however, we, as a global community, have very little experience with robotic sample return missions: 3 of the Russian Luna Missions successfully returned lunar material in the 1970s; 28 years later, in 2004, NASA s Genesis Mission returned material from the solar wind; and in 2006, NASA s Stardust Mission returned material from the Comet Wild2. [Note: The Japanese Hyabusa mission continues in space with the hope of returning material from the asteroid 25143 Itokawa.] We launch many spacecraft to LEO and return them to Earth. We also launch spacecraft beyond LEO to explore the planets, our solar system, and beyond. Some even land on these bodies. But these do not return. So as we begin to contemplate the sample return missions of the future, some common questions arise: "What really happens when the capsule returns?" "Where does it land?" "Who retrieves it and just how do they do that?" "Where does it go after that?" "How do the scientists get the samples?" "Do they keep them?" "Who is in charge?" The questions are nearly endless. The goal of this paper/presentation is to uncover many of the mysteries of the post-return phase of a mission - from the time the return body enters the atmosphere until the mission ends and the samples become part of a long term collection. The discussion will be based largely on the author s own experience with both the Genesis and Stardust missions. Of course, these two missions have a great deal in common, being funded by the same NASA Program (Discovery) and having similar team composition. The intent, however, is to use these missions as examples in order to highlight the general requirements and the challenges in defining and meeting those requirements for the final

  17. EARLY TO RISE: WHEN OPENING STOCK RETURNS ARE HIGHER THAN DAILY RETURNS?

    OpenAIRE

    KUDRYAVTSEV Andrey

    2012-01-01

    In present study, I explore intraday behavior of stock prices. In particular, I try to shed light on the relationship between the widely-documented U-shaped intraday pattern of stock returns (e.g., Wood et al. (1985), Jain and Joh (1988), Pagano et al. (2008)) and the well-known concept of stock price overreaction resulting in potentially profitable investment strategies based on short-term price reversals (e.g., Zarowin (1989), Cox and Peterson (1994), Park (1995), Nam et al. (2001)). Employ...

  18. How to Determine the Increasing Returns Sensitivity of Your Industry?

    NARCIS (Netherlands)

    M.H. Klein (Martin); E. den Hartigh; H.R. Commandeur (Harry); F. Langerak (Fred)

    2004-01-01

    textabstractIncreasing returns means that self-reinforcing mechanisms are at work within firms and markets. These mechanisms come in four forms: scale effects, learning effects, network effects and social interaction effects. Some industries are more sensitive to increasing returns than others. It

  19. 7 CFR 351.5 - Return or destruction.

    Science.gov (United States)

    2010-01-01

    ... Regulations of the Department of Agriculture (Continued) ANIMAL AND PLANT HEALTH INSPECTION SERVICE, DEPARTMENT OF AGRICULTURE IMPORTATION OF PLANTS OR PLANT PRODUCTS BY MAIL § 351.5 Return or destruction. Where the plant quarantine inspector requires the entire shipment to be returned to the country of...

  20. 76 FR 78816 - Tax Return Preparer Penalties Under Section 6695

    Science.gov (United States)

    2011-12-20

    ... DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9570] RIN 1545-BK16 Tax... related to the tax return preparer penalties under section 6695 of the Internal Revenue Code (Code). The final regulations are necessary to monitor and to improve compliance with the tax return preparer due...

  1. Absolute Stock Returns and Trading Volumes: Psychological Insights

    Directory of Open Access Journals (Sweden)

    Andrey Kudryavtsev

    2017-07-01

    Full Text Available The present study explores the effect of anchoring on stock trading volumes. I hypothesize that if on the days when the market index rises (falls, a given stock's return is higher (lower than the market return, potentially perceived as a psychological "anchor", then investors may treat that as a salient event and subsequently increase their trading activity in the stock. Employing a large sample of daily price and trading volume data, I find support for this hypothesis, documenting that average abnormal daily stock trading volumes are significantly higher on the days when absolute daily stock returns are higher than the contemporaneous absolute market returns. This effect is found to be stronger on the days of negative stock and market returns, suggesting that on these days, investors are probably more inclined to treat the market returns as anchors when making their trading decisions. The effect remains significant after controlling for other potentially influential factors, including contemporaneous and lagged actual and absolute stock and market returns, historical stock returns and volatilities, and company-specific events, like earnings announcements and dividend payments.

  2. Evaluation of the causes and cost impact of returned intravenous ...

    African Journals Online (AJOL)

    The most common reasons for returning IV medications were drug discontinuation (933 items, 45.3 %), dispensing of an extra quantity (396 items, 19.2 %), patient deaths (173 items, 8.4 %), dose changes (171 items, 8.3 %) and drugs being held (150 items, 7.3 %). The total cost of all the returned IV medications was ...

  3. Analysis of Cost and Returns Among Women Food Crop Marketers ...

    African Journals Online (AJOL)

    The study was on the analysis of costs and returns in women participation in food crop marketing in Abia State. The objectives of the study were to describe the socio-economic characteristics of the respondents, describe the types of crops marketed by the women, determine the costs and returns of the enterprise and make ...

  4. Rates of Return on University Education With Economies of Scale.

    Science.gov (United States)

    Bottomley, Anthony; Dunworth, John

    The authors of the present document had as their purpose to determine somewhat the worth of a college education. In order to do this, they show (1) how much a university education costs; (2) what the rates of return on this cost are and who the beneficiary of these returns is; (3) how costs might be reduced with expanded enrollment; and (4) how…

  5. Return Interviews and Long Engagements with Ethnographic Informants

    Science.gov (United States)

    Tobin, Joseph; Hayashi, Akiko

    2017-01-01

    This paper uses examples from research conducted in preschools in Japan, China, and the United States to illustrate the features and virtues of return interviews with informants with whom ethnographers have long research engagements. Return interviews and long research engagements are powerful research strategies that help the ethnographers ask…

  6. Accounting for Heterogeneous Returns in Sequential Schooling Decisions

    NARCIS (Netherlands)

    Zamarro, G.

    2006-01-01

    This paper presents a method for estimating returns to schooling that takes into account that returns may be heterogeneous among agents and that educational decisions are made sequentially.A sequential decision model is interesting because it explicitly considers that the level of education of each

  7. Influence of macroeconomic factors on residential property returns in ...

    African Journals Online (AJOL)

    An attempt was made in this study to bridge the existing gap in the knowledge of the influence exerted by macro-economic factors on residential property returns in Abuja. The backward and forward relationship between property market and the economy has influenced a rise and fall in future of property returns in Abuja ...

  8. 77 FR 70835 - Centennial Challenges 2013 Sample Return Robot Challenge

    Science.gov (United States)

    2012-11-27

    ... SPACE ADMINISTRATION Centennial Challenges 2013 Sample Return Robot Challenge AGENCY: National... in accordance with 51 U.S.C. 20144(c). The 2013 Sample Return Robot Challenge is scheduled and teams... Robot Challenge is a prize competition designed to encourage development of new technologies or...

  9. 78 FR 49296 - Centennial Challenges 2014 Sample Return Robot Challenge

    Science.gov (United States)

    2013-08-13

    ... SPACE ADMINISTRATION Centennial Challenges 2014 Sample Return Robot Challenge AGENCY: National Aeronautics and Space Administration (NASA). ACTION: Notice of Centennial Challenges 2014 Sample Return Robot... Robot Challenge is scheduled and teams that wish to compete may register. Centennial Challenges is a...

  10. Global Economic Growth and Expected Returns around the World

    DEFF Research Database (Denmark)

    Møller, Stig Vinther; Rangvid, Jesper

    2018-01-01

    in the global economy at the end of the year predicts higher returns over the following year. It also predicts the global business cycle. When global economic growth at the end of the year is low, investors expect a worsening of the global business cycle and increase their required returns....

  11. Does Exposure to Returning SEN Students Harm Peers’ Outcomes?

    DEFF Research Database (Denmark)

    Rangvid, Beatrice Schindler

    Returning SEN (special educational needs) students from segregated settings to regular class rooms may have spill-over effects on their peers. Using a combination of survey data and data from administrative registers from Denmark, I investigate whether becoming exposed to returning SEN students...

  12. Cost Efficiency and Returns to Scope in Italian Investment Firms

    OpenAIRE

    Marcello Basili; Fulvio Fontini

    2005-01-01

    This paper estimates cost efficiency and returns to scope of Italian investment firms during the period 1998-2002, following the stochastic frontier function approach. Results indicate a large inefficiency for Italian investment firms (with a high standard deviation across sample) and the absence of significant returns to scope

  13. Cost and returns on the marketing of charcoal within Ibadan ...

    African Journals Online (AJOL)

    The study on the cost and returns of charcoal marketing was carried out within Ibadan metropolis, Nigeria. The objective of the study was to investigate the returns on the sales of charcoal among randomly selected major charcoal markets. Questionnaire was used as a primary source of data collection. Descriptive statistics ...

  14. Determinants of net return among fish marketers in Port Harcourt ...

    African Journals Online (AJOL)

    Data were collected by means of questionnaire. Descriptive statistics, marketing margin, marketing efficiency and net return models were used to analyze data collected. The ordinary least squares multiple regression technique was also used to estimate the determinants of net returns of the marketers. The result showed ...

  15. Analysis of costs and returns of mechanized fishing boat operations ...

    African Journals Online (AJOL)

    Analysis of costs and returns of mechanized fishing boat operations in India. KS Bose, PV Sarma. Abstract. This article makes an attempt to analyze the cost and returns of Mechanized Fishing Boat Operators (MFBO's) and the determinants of the selected MFBOs. The study is based on a sample of 180 MFBOs operating ...

  16. Return handling options and order quantities for single period products

    NARCIS (Netherlands)

    D. Vlachos (Dimitrios); R. Dekker (Rommert)

    2000-01-01

    textabstractProducts which are sold through E-commerce or mail sales catalogues tend to have a much higher return rate than traditional products. The returns are especially problematic for seasonal products. To support decision making in these situations we study various options, which may be

  17. Litterfall and Nutrient Returns in Isolated Stands of Persea ...

    African Journals Online (AJOL)

    Ethiopian Journal of Environmental Studies and Management ... The study examined litter production, the concentrations of nutrients in litterfall, the returns of nutrient elements to the soil via litterfall, the relationship between litter production nutrient returns via litterfall, and determined the seasonal variations in litter ...

  18. 19 CFR 191.164 - Return to Customs custody.

    Science.gov (United States)

    2010-04-01

    ... 19 Customs Duties 2 2010-04-01 2010-04-01 false Return to Customs custody. 191.164 Section 191.164 Customs Duties U.S. CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF HOMELAND SECURITY; DEPARTMENT OF THE... to Sample or Specifications § 191.164 Return to Customs custody. There is no time limit for the...

  19. 75 FR 14539 - Furnishing Identifying Number of Tax Return Preparer

    Science.gov (United States)

    2010-03-26

    ... tax return preparers and employers of tax return preparers. Estimated total annual reporting burden..., the preparer's employer, or both. Section 8246(a)(2)(D)(i) of the Small Business and Work Opportunity..., skilled, and ethical. 1. Identifying Numbers Generally Because an identifying number is unique to the...

  20. Intention of mountain bikers to return | Kruger | South African Journal ...

    African Journals Online (AJOL)

    Intention of mountain bikers to return. ... Yet, information about the underlying motives of those who participate in mountain bike events, while a tourist at the same time, appears to be scant. The purpose of this ... While the motive dedication and the variable, country, significantly influenced intention to return visits. Marketers ...

  1. The Returns of Investment in Tertiary Technological Education in Greece.

    Science.gov (United States)

    Tsamadias, Constantinos

    2002-01-01

    Return on investment was estimated from earnings data on Greek graduates of tertiary technological education and secondary education, using elaborate and Mincerian estimation models. Return rates were similar in both methods. Differences were greater for females. Both societal and individual investment in tertiary technological education was…

  2. 47 CFR 1.1907 - Return of property or collateral.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 1 2010-10-01 2010-10-01 false Return of property or collateral. 1.1907 Section 1.1907 Telecommunication FEDERAL COMMUNICATIONS COMMISSION GENERAL PRACTICE AND PROCEDURE Collection of Claims Owed the United States General Provisions § 1.1907 Return of property or collateral...

  3. 26 CFR 1.857-10 - Information returns.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Information returns. 1.857-10 Section 1.857-10 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Real Estate Investment Trusts § 1.857-10 Information returns. Nothing in §§ 1.857-8 and 1...

  4. 27 CFR 46.231 - Floor stocks tax return.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Floor stocks tax return... CIGARETTE PAPERS AND TUBES Floor Stocks Tax on Certain Tobacco Products, Cigarette Papers, and Cigarette Tubes Held for Sale on April 1, 2009 Filing Requirements § 46.231 Floor stocks tax return. Form 5000...

  5. Return to work in miners following anterior cruciate ligament ...

    African Journals Online (AJOL)

    Introduction: The aim of the study is retrospectively investigated durations for returning to work following anatomic ACL reconstruction by hamstring autograft in miners and the reasons in patients who were delayed to return to work. Methods: Miners with symptomatic anterior cruciate ligament rupture underwent arthroscopic ...

  6. Social Dynamics of Return Migration to Puerto Rico.

    Science.gov (United States)

    de Cintron, Celia Fernandez; Vales, Pedro A.

    The sociological elements associated with the process of return migration such as the motivations responsible for, or associated not only with return migration but with the migration process in general, are addressed in this investigation. Among the questions that guide the research problem are the following: the meaning of migration and of return…

  7. Selectivity of Black Return Migration to the South

    Science.gov (United States)

    Long, Larry H.; Hansen, Kristin A.

    1977-01-01

    The probability of blacks moving from the South has been directly related to years of school completed. Of those who leave, the most highly educated are the most likely to return. This and other evidence fails to support the hypothesis that return of the least capable migrants accounts for why southern-born blacks in the North earn more than…

  8. Moving to the Country: Return Migration to a Rural Area.

    Science.gov (United States)

    Mapstone, James R.

    Study objectives were to: compare in-migrants with non-migrants in order to ascertain the migrants' demographic and socioeconomic contributions to rural areas; analyze the patterns of this in-migration to determine the presence and extent of return migration; contrast returned migrants with in-migrants who had no prior residence in the rural area;…

  9. Annotated Bibliography on Return Migration to Puerto Rico.

    Science.gov (United States)

    Carrasquillo, Angela; Carrasquillo, Ceferino

    This paper is an annotated bibliography on return migration from the mainland United States to Puerto Rico. An introduction defines the term "return migration" in the specific context of the Puerto Rican community. The introduction is followed by the bibliography, which lists and summarizes research studies and works dealing with…

  10. 78 FR 13899 - Revision of Annual Information Return/Reports

    Science.gov (United States)

    2013-03-01

    ... DEPARTMENT OF LABOR Employee Benefits Security Administration RIN 1210-AB51 Revision of Annual Information Return/Reports AGENCY: Employee Benefits Security Administration, Department of Labor. ACTION... to the Form 5500 Annual Return/Report filed by administrators of certain employee welfare benefit...

  11. The VIX, the Variance Premium, and Expected Returns*

    DEFF Research Database (Denmark)

    Osterrieder, Daniela; Ventosa-Santaulària, Daniel; Vera-Valdés, J Eduardo

    2018-01-01

    . These problems are eliminated if risk is captured by the variance premium (VP) instead; it is unobservable, however. We propose a 2SLS estimator that produces consistent estimates without observing the VP. Using this method, we find a positive risk–return trade-off and long-run return predictability. Our...

  12. Risk-return Performance of Residential Property Investment in Abuja ...

    African Journals Online (AJOL)

    Sultan

    2017-06-20

    Jun 20, 2017 ... Amidu et al. (2007) examined the performance of real estate security and investment asset in Nigeria Stock market. Performance indicators such as normal return and risk adjusted return were employed forthe study. The result of the study suggested that real property investment outperformed on the basis.

  13. Factor Structure in Commodity Futures Return and Volatility

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Lunde, Asger; Olesen, Kasper Vinther

    Using data on more than 750 million futures trades during 2004-2013, we analyze eight stylized facts of commodity price and volatility dynamics in the post financialization period. We pay particular attention to the factor structure in returns and volatility and to commodity market integration...... with the equity market. We find evidence of a factor structure in daily commodity futures returns. However, the factor structure in daily commodity futures volatility is even stronger than in returns. When computing model-free realized commodity betas with the stock market we find that they were high during 2008......-2010 but have since returned to the pre-crisis level close to zero. The common factor in commodity volatility is nevertheless clearly related to stock market volatility. We conclude that, while commodity markets appear to again be segmented from the equity market when only returns are considered, commodity...

  14. Factor Structure in Commodity Futures Return and Volatility

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Lunde, Asger; Olesen, Kasper Vinther

    -2010 but have since returned to the pre-crisis level close to zero. The common factor in commodity volatility is nevertheless clearly related to stock market volatility. We conclude that, while commodity markets appear to again be segmented from the equity market when only returns are considered, commodity......Using data on more than 750 million futures trades during 2004-2013, we analyze eight stylized facts of commodity price and volatility dynamics in the post financialization period. We pay particular attention to the factor structure in returns and volatility and to commodity market integration...... with the equity market. We find evidence of a factor structure in daily commodity futures returns. However, the factor structure in daily commodity futures volatility is even stronger than in returns. When computing model-free realized commodity betas with the stock market we find that they were high during 2008...

  15. Preventing customer defection and stimulating return of the lost customers

    Directory of Open Access Journals (Sweden)

    Senić Radoslav

    2013-01-01

    Full Text Available Customers represent company's most valuable asset. Company can assure its survival, further growth and development by retaining existing, attracting new and returning lost customers. Retaining existing, loyal customers is the most profitable business activity, attracting new ones is the most expensive, while returning lost and frequently forgotten customers is a type of business activity that still generates modest interest among researchers and practitioners. So far, marketing strategies have been mainly directed towards the first two categories of customers. The objective of this paper is dedicated to customer defection and returning lost customers. Paper discusses customer relationship life-cycle and the significance of managing customer return within it, types of customer defections, the process of managing return, as well as, the reasons that led to customer defection.

  16. Factor Structure in Commodity Futures Return and Volatility

    DEFF Research Database (Denmark)

    Christoffersen, Peter; Lunde, Asger; Olesen, Kasper Vinther

    with the equity market. We find evidence of a factor structure in daily commodity futures returns. However, the factor structure in daily commodity futures volatility is even stronger than in returns. When computing model-free realized commodity betas with the stock market we find that they were high during 2008......Using data on more than 750 million futures trades during 2004-2013, we analyze eight stylized facts of commodity price and volatility dynamics in the post financialization period. We pay particular attention to the factor structure in returns and volatility and to commodity market integration......-2010 but have since returned to the pre-crisis level close to zero. The common factor in commodity volatility is nevertheless clearly related to stock market volatility. We conclude that, while commodity markets appear to again be segmented from the equity market when only returns are considered, commodity...

  17. Return Migration among Elderly, Chronically Ill Bosnian Refugees

    DEFF Research Database (Denmark)

    Handlos, Line Neerup; Olwig, Karen Fog; Bygbjerg, Ib Christian

    2015-01-01

    Elderly migrants constitute a considerable share of global return migration; nevertheless, literature on the health aspects of the return migration among these migrants is still scarce. This study explores the significance of return migration among elderly, chronically ill Bosnian refugees from...... Denmark and the role of health issues in their decision to return. It is based on semi-structured interviews with 33 elderly, chronically ill Bosnian refugees who have moved back to Bosnia and Herzegovina, and 10 elderly, chronically ill Bosnian refugees who have remained in Denmark. The interviews show...... that physical health, in the sense of the absence of illness and easy access to necessary health-care services and medicines, was not highly prioritized when the decision was made whether or not to return. However, if health is regarded more broadly as involving more than mere physical health and the absence...

  18. Consumer returns policies with endogenous deadline and supply chain coordination

    DEFF Research Database (Denmark)

    Xu, Lei; Li, Yongjian; Govindan, Kannan

    2015-01-01

    on consumers' behavior and the pricing and inventory policies of the retailer are systematically investigated. Moreover, based on the analysis of consumer return behavior on a traditional buy-back contract, we present a new differentiated buy-back contract, contingent on return deadline, to coordinate a supply......This paper considers returns policies under which consumers' valuation depends on the refund amount they receive and the length of time theymustwait after the item is returned. Consumers face an uncertain valuation before purchase, and the realization of that purchase's value occurs only after...... chain consisting of an upstream manufacturer and a downstream retailer. Finally, extensions on some specific behavioral factors such as moral hazard, inertia return, and external effect are investigated....

  19. Return emigration: analysis of the situation through life stories

    Directory of Open Access Journals (Sweden)

    M.R Pino Juste

    2014-11-01

    Full Text Available In the context of the importance presently acquired by return immigration in Spain, in this article a descriptive study around the returned emigrants over 65 years old in Galicia is presented.After a brief theoretical introduction on return migration,the research carried out is developed. In the first place, the methodology used in the investigation which allowed an approach to the point of view of the persons concerned is explained: the biographical method through the technique of life stories. In second term, the specific results of the research are presented. After out lining the profile of the returned emigrant, different categories relating to the migratory project in its different phases have been analyzed: fromits beginning —reasons for emigrating—, in their arrival to destiny—labour activity, adaptation, uprooting, etc.—, to the return—reasons for returning, problems of readjustment to the place of origin, etc.—

  20. Return migration as failure or success? : The determinants of return migration intentions among Moroccan migrants in Europe

    NARCIS (Netherlands)

    de Haas, H.; Fokkema, T.; Fihri, M.F.

    2015-01-01

    Different migration theories generate competing hypotheses with regard to determinants of return migration. While neoclassical migration theory associates migration to the failure to integrate at the destination, the new economics of labour migration sees return migration as the logical stage after

  1. Return Migration as Failure or Success?: The Determinants of Return Migration Intentions Among Moroccan Migrants in Europe.

    Science.gov (United States)

    de Haas, Hein; Fokkema, Tineke; Fihri, Mohamed Fassi

    Different migration theories generate competing hypotheses with regard to determinants of return migration. While neoclassical migration theory associates migration to the failure to integrate at the destination, the new economics of labour migration sees return migration as the logical stage after migrants have earned sufficient assets and knowledge and to invest in their origin countries. The projected return is then likely to be postponed for sustained or indefinite periods if integration is unsuccessful. So, from an indication or result of integration failure return is rather seen as a measure of success. Drawing on recent survey data ( N  = 2,832), this article tests these hypotheses by examining the main determinants of return intention among Moroccan migrants across Europe. The results indicate that structural integration through labour market participation, education and the maintenance of economic and social ties with receiving countries do not significantly affect return intentions. At the same time, investments and social ties to Morocco are positively related, and socio-cultural integration in receiving countries is negatively related to return migration intentions. The mixed results corroborate the idea that there is no uniform process of (return) migration and that competing theories might therefore be partly complementary.

  2. 26 CFR 26.6109-1 - Tax return preparers furnishing identifying numbers for returns or claims for refund.

    Science.gov (United States)

    2010-04-01

    ... SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE AND GIFT TAXES GENERATION-SKIPPING TRANSFER TAX REGULATIONS UNDER THE TAX REFORM ACT OF 1986 § 26.6109-1 Tax return preparers furnishing identifying numbers... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Tax return preparers furnishing identifying...

  3. Return to work self efficacy and actual return to work among long-term sick-listed employees

    NARCIS (Netherlands)

    Volker, D.; Zijlstra-Vlasveld, M.C.; Brouwers, E.P.M.; van Lomwel, A.G.C.; van der Feltz-Cornelis, C.M.

    2015-01-01

    Objective Considering the costs incurred by sickness absence and the implications for the workers’ quality of life, a fast return to work (RTW) is important. Self-efficacy (SE) seems to be an important predictor of RTW for employees with mental health problems. The predictive value of return-to-work

  4. Different forms, reasons and motivations for return migration of persons who voluntarily decide to return to their countries of origin.

    Science.gov (United States)

    Callea, S

    1986-03-01

    Although the 1973 oil crisis did not have the drastic effects on immigration which were originally feared, it did end a period of quasi-liberal immigration policy, establish intense and effective international cooperation on immigration, and arouse great interest in immigration studies and research. This paper analyzes the situations arising as a result of the petroleum shortage and focuses on the conditions relating to the return of emigrants to Southern European countries. This new research draws attention to the following fundamental aspects of the immigration problem: 1) the emigrant's return to his homeland cannot be considered a factor in development; it is a positive element in development only if the right socioeconomic conditions exist in the country of origin. 2) Concern for children's education is one of the most common reasons for return. 3) A large percentage of emigrants are satisfied with their work abroad. 4) An emigrant's return potential is wasted due to the slight use that is made of the resources he offers. 5) Returning workers most often want to set up an independent enterprise. 6) Savings are generally used to buy a house or farm. 7) Vocational level does not increase significantly between emigration and returning, though this increase becomes greater the longer the emigrant stays abroad. 8) The number of returning emigrants is too slight to bring about any change in the country of origin. 9) Incentives and subsidies to encourage return have not had a considerable impact on the decision to return. Callea recommends that officials of the country of origin posted abroad be assigned to counsel returning emigrants on finding employment, attending vocational development courses, obtaining housing, accruing interests and savings, and on the problems and perspectives of sociocultural reintegration.

  5. The Return of the Blue Butterfly

    Science.gov (United States)

    Santos, Anabela

    2014-05-01

    The Return of the Blue Butterfly The English writer Charles Dickens once wrote: "I only ask to be free. The butterflies are free". But are they really? The work that I performed with a group of students from 8th grade, had a starting point of climate change and the implications it has on ecosystems. Joining the passion I have for butterflies, I realized that they are also in danger of extinction due to these climatic effects. Thus, it was easy to seduce my students wanting to know more. Luckily I found Dr. Paula Seixas Arnaldo, a researcher at the University of Trás-os-Montes and Alto Douro, who has worked on butterflies and precisely investigated this issue. Portugal is the southern limit of butterfly-blue (Phengaris alcon), and has been many years in the red book of endangered species. Butterfly-blue is very demanding of their habitat, and disappears very easily if ideal conditions are not satisfied. Increased fragmentation of landscapes and degradation of suitable habitats, are considered the greatest challenges of the conservation of Phengaris butterfly in Portugal. In recent decades, climate change has also changed butterfly-blue spatial distribution with a movement of the species northward to colder locations, and dispersion in latitude. Butterflies of Europe must escape to the North because of the heat. Dr. Paula Seixas Arnaldo and her research team began a project, completed in December 2013, wanted to preserve and restore priority habitats recognized by the European Union to help species in danger of disappearing with increasing temperature. The blue butterfly is extremely important because it is a key indicator of the quality of these habitats. In the field, the butterflies are monitored to collect all possible data in order to identify the key species. Butterflies start flying in early July and cease in late August. Mating takes about an hour and occurs in the first days of life. The gentian-peat (Gentiana pneumonanthe) serves as the host plant for

  6. Landsat 3 return beam vidicon response artifacts

    Science.gov (United States)

    ,; Clark, B.

    1981-01-01

    The return beam vidicon (RBV) sensing systems employed aboard Landsats 1, 2, and 3 have all been similar in that they have utilized vidicon tube cameras. These are not mirror-sweep scanning devices such as the multispectral scanner (MSS) sensors that have also been carried aboard the Landsat satellites. The vidicons operate more like common television cameras, using an electron gun to read images from a photoconductive faceplate.In the case of Landsats 1 and 2, the RBV system consisted of three such vidicons which collected remote sensing data in three distinct spectral bands. Landsat 3, however, utilizes just two vidicon cameras, both of which sense data in a single broad band. The Landsat 3 RBV system additionally has a unique configuration. As arranged, the two cameras can be shuttered alternately, twice each, in the same time it takes for one MSS scene to be acquired. This shuttering sequence results in four RBV "subscenes" for every MSS scene acquired, similar to the four quadrants of a square. See Figure 1. Each subscene represents a ground area of approximately 98 by 98 km. The subscenes are designated A, B, C, and D, for the northwest, northeast, southwest, and southeast quarters of the full scene, respectively. RBV data products are normally ordered, reproduced, and sold on a subscene basis and are in general referred to in this way. Each exposure from the RBV camera system presents an image which is 98 km on a side. When these analog video data are subsequently converted to digital form, the picture element, or pixel, that results is 19 m on a side with an effective resolution element of 30 m. This pixel size is substantially smaller than that obtainable in MSS images (the MSS has an effective resolution element of 73.4 m), and, when RBV images are compared to equivalent MSS images, better resolution in the RBV data is clearly evident. It is for this reason that the RBV system can be a valuable tool for remote sensing of earth resources.Until recently

  7. Return to work in miners following anterior cruciate ligament reconstruction

    Science.gov (United States)

    Tiftikci, Ugur; Serbest, Sancar; Kilinc, Cem Yalin; Karabicak, Gül Öznur; Vergili, Özge

    2015-01-01

    Introduction The aim of the study is retrospectively investigated durations for returning to work following anatomic ACL reconstruction by hamstring autograft in miners and the reasons in patients who were delayed to return to work. Methods Miners with symptomatic anterior cruciate ligament rupture underwent arthroscopic reconstruction. Patients were evaluated in terms of range of motion (ROM) values; Lysholm, Cincinati and Tegner activity scales; laxity testing and complications. By modifying the method used by Fitzgerald et al. we decided for the criteria returning to work. Results Thirty three patients were evaluated with mean followup of 22.7 ± 8.3 months (range 13-46 months). Mean age at the surgery was 27.8 (18-38) years. Lysholm, Cincinati and Tegner activity scales were signifi cantly higher from preoperative scores (Lysholm scores: preoperative: 60.7 ± 12.5, postoperative: 90.3 ± 4.8 (P postoperative: 6.2 ± 1.5 (P postoperative: 26.9 ± 1.6 (P < 0.001). The average time for returning to work was determined as 15,3 ± 4 weeks. There was no significant difference for knee scores and time for returning to work between patients with meniscal injuries and don't have meniscus lesions. Conclusion The reasons for delays in returning to work was work accident. Hematoma or effusion and pain inside the knee were the most significant reason which affected returning to work. PMID:26918069

  8. Risk-return relationship in a complex adaptive system.

    Directory of Open Access Journals (Sweden)

    Kunyu Song

    Full Text Available For survival and development, autonomous agents in complex adaptive systems involving the human society must compete against or collaborate with others for sharing limited resources or wealth, by using different methods. One method is to invest, in order to obtain payoffs with risk. It is a common belief that investments with a positive risk-return relationship (namely, high risk high return and vice versa are dominant over those with a negative risk-return relationship (i.e., high risk low return and vice versa in the human society; the belief has a notable impact on daily investing activities of investors. Here we investigate the risk-return relationship in a model complex adaptive system, in order to study the effect of both market efficiency and closeness that exist in the human society and play an important role in helping to establish traditional finance/economics theories. We conduct a series of computer-aided human experiments, and also perform agent-based simulations and theoretical analysis to confirm the experimental observations and reveal the underlying mechanism. We report that investments with a negative risk-return relationship have dominance over those with a positive risk-return relationship instead in such a complex adaptive systems. We formulate the dynamical process for the system's evolution, which helps to discover the different role of identical and heterogeneous preferences. This work might be valuable not only to complexity science, but also to finance and economics, to management and social science, and to physics.

  9. Experiences of occupational therapists returning to work after maternity leave.

    Science.gov (United States)

    Parcsi, Lisa; Curtin, Michael

    2013-08-01

    Returning to work after maternity leave can be a challenging, anxious and fraught experience for women, and has been portrayed in the literature as a generally negative experience. Interestingly, although occupational therapists were predominantly women, no research was found focussing on their experiences of returning to work after maternity leave. The aim of this research was to gain an insight into occupational therapists' experiences of returning to work following maternity leave. Principles of interpretive phenomenological analysis were used to explore the individual experiences of six Australian occupational therapists returning to work after a period of maternity leave. Individual semi-structured interviews lasting up to 90 minutes were conducted. Interviews were audio-recorded, transcribed and then analysed. Two major themes emerged from the analysis of interviews: compromise and feeling valued. The experience of returning to work was a process of compromise in which women found strategies to cope with their changing roles and demands, to find a balance between home and work life. The women wanted to feel valued by their managers and co-workers, as this enabled them to feel comfortable and confident with some of the compromises they made. Occupational therapists returning to work after maternity leave will make compromises so that they can balance their home and work life. Occupational therapists value managers and co-workers who understand the compromises women make when returning to work following maternity leave and who create a supportive workplace that acknowledges and values their contribution. © 2013 Occupational Therapy Australia.

  10. Policy and some problems on the return waste

    International Nuclear Information System (INIS)

    Shimoda, Hideo

    1981-01-01

    The radioactive wastes generated at the time of reprocessing the spent fuel from the nuclear power stations in Japan in the reprocessing companies in Great Britain and France are expected to be returned to Japan in 1990 and later. The specification of returned wastes will be presented by the reprocessing companies in 1981, but in order to approve it, it is necessary to obtain the perspective whether the transport, acceptance and handling, and storage of the wastes can be carried out safely or not. First, the plan for the reprocessing of spent fuel from the nuclear power stations in Japan is shown. Next, the features in the new contracts on reprocessing with BNFL and COGEMA are explained. Electric power companies are jointly examining the concept about the quantity to be generated, properties, transport, storage and disposal of the returned wastes, based on the informations from COGEMA. The facilities in the reprocessing plants of BNFL and COGEMA, and the kinds and quantities of the wastes to be returned are outlined. The long term scenario of returned waste management, the transport and storage of returned wastes, and the examination on the rate of waste content and the soundness of high level glass solidified bodies, the stability of glass solidified bodies, the material of canisters and low and medium level wastes, and the final disposal of returned wastes are described. (Kako, I.)

  11. Return Rates for Needle Exchange Programs: A Common Criticism Answered

    Directory of Open Access Journals (Sweden)

    Ksobiech Kate

    2004-04-01

    Full Text Available Abstract This study searched the available needle exchange program (NEP literature for return rate data. A total of 26 articles were found. The overall worldwide return rate was 90%, although this ranged from a low of 15% to a high of 112%. U.S. NEP return rates were gathered from only eight studies, indicating a clear need for more data, although U.S. return rates were comparable to those from NEPs outside of the U.S. One underlying assumption made by opponents of NEPs is that IDUs will not return needles to the distribution site, thereby potentially increasing the risk of health problems to the surrounding community from exposure to contaminated needles. This study's results suggest that NEPs are relatively successful in taking in used needles, although it is generally unclear where the needles were originally acquired, and if IDUs return their own needles, or are returning needles for a social network. Ways for AIDS Service Organizations to capitalize on these brief encounters with IDUs, as well as public policy implications of the findings, are discussed.

  12. Risk-return relationship in a complex adaptive system.

    Science.gov (United States)

    Song, Kunyu; An, Kenan; Yang, Guang; Huang, Jiping

    2012-01-01

    For survival and development, autonomous agents in complex adaptive systems involving the human society must compete against or collaborate with others for sharing limited resources or wealth, by using different methods. One method is to invest, in order to obtain payoffs with risk. It is a common belief that investments with a positive risk-return relationship (namely, high risk high return and vice versa) are dominant over those with a negative risk-return relationship (i.e., high risk low return and vice versa) in the human society; the belief has a notable impact on daily investing activities of investors. Here we investigate the risk-return relationship in a model complex adaptive system, in order to study the effect of both market efficiency and closeness that exist in the human society and play an important role in helping to establish traditional finance/economics theories. We conduct a series of computer-aided human experiments, and also perform agent-based simulations and theoretical analysis to confirm the experimental observations and reveal the underlying mechanism. We report that investments with a negative risk-return relationship have dominance over those with a positive risk-return relationship instead in such a complex adaptive systems. We formulate the dynamical process for the system's evolution, which helps to discover the different role of identical and heterogeneous preferences. This work might be valuable not only to complexity science, but also to finance and economics, to management and social science, and to physics.

  13. Leaving from and returning to nursing practice: contributing factors.

    Science.gov (United States)

    Jamieson, Isabel; Taua, Chris

    2009-07-01

    Many nurses leave nursing and never return. Others return after a period of time. Given the global shortage of nurses a better understanding of these movements is needed. The present study focused on nurses who had been out of nursing for more than five years, and explored factors that influenced their leaving and return to practice. All the nurses who had undertaken a Competency Assessment Programme at a given New Zealand tertiary institution during 2005 were invited to participate. Of the 70 questionnaires mailed out 32 (44.5%) were completed and returned. Quantitative data were analysed using Microsoft Excel, and the qualitative data were coded and analysed by means of content analysis. For each, leaving and returning, three key issues emerged. Nurses left for personal reasons, to seek a career change, or because of poor working conditions. They returned when they had the personal freedom to do so, for fiscal reasons, or because they were motivated by some sense of unfinished business. These findings indicate that it is important for educators involved with Competency Assessment Programmes to collaborate with employers in ensuring that there are opportunities for re-entry to positive work environments, with a degree of flexibility that suits the demographic characteristics of those nurses returning to practice.

  14. Price returns efficiency of the Shanghai A-Shares

    Science.gov (United States)

    Long, Wang Jiang; Jaaman, Saiful Hafizah; Samsudin, Humaida Banu

    2014-06-01

    Beta measured from the capital asset pricing model (CAPM) is the most widely used risk to estimate expected return. In this paper factors that influence Shanghai A-share stock return based on CAPM are explored and investigated. Price data of 312 companies listed on Shanghai Stock Exchange (SSE) from the year 2000 to 2011 are investigated. This study employed the Fama-MacBeth cross-sectional method to avoid weakness of traditional CAPM. In addition, this study improves the model by adjusting missing data. Findings of this study justifies that systematic risk can explain the portfolios' returns of China SSE stock market.

  15. [Return migrations in the Italian migration system: a reexamination].

    Science.gov (United States)

    Bonifazi, C; Heins, F

    1996-06-01

    The authors discuss trends in return migration in Italy, with a focus on regional differences. "On a regional level, the effects of return migration are very much connected with socio-economic structure. Only highly developed and autonomous regions can absorb productive investments and changes brought about by return migration. Several southern regions--especially those with greater migration experience--have shown in the last decades a very poor socio-economic development." The study is concerned with both internal and international migration. (SUMMARY IN ENG AND FRE) excerpt

  16. Education mismatch and return migration in Egypt and Tunisia

    OpenAIRE

    David, A.; Nordman, Christophe

    2017-01-01

    The objective of this paper is to shed light on the issue of education mismatch in the context of return migration in Egypt and Tunisia. Using data on both return and non-migrants in Egypt and Tunisia, we analyze the skills that migrants acquire before and during migration and the way these skills are used upon return. We find evidence of education mismatch, especially in Tunisia. Finally, we estimate the determinants of education mismatch on the Egyptian and Tunisian labour markets and find ...

  17. The Impact of Capital Structure on Stock Returns: International Evidence

    Directory of Open Access Journals (Sweden)

    Reza TAHMOORESPOUR

    2015-03-01

    Full Text Available This study examines the relationship between capital structure and stock returns of firms in the following eight countries in the Asia Pacific regionfor a period of 22 years from 1990 to 2012. The methodology is Panel Regression. The results indicate that the effect of capital structure depends on the nature of industry as well as market. In Australia, China, and Korea, return of companies in the Basic Material industry have negative relationship with debt to common equity. Long term debt to common equity positively affects the return of firms in Australia and Korea in the Basic Material industry.

  18. Consumption growth and time-varying expected stock returns

    DEFF Research Database (Denmark)

    Vinther Møller, Stig

    2008-01-01

    at business cycle peaks. The consumption growth rate loses predictive power when it is measured based upon other quarters. This is consistent with the insight of Jagannathan and Wang [2007. Journal of Finance 62, 1623-1661] that investors tend to review their consumption and investment plans during the end......When the consumption growth rate is measured based upon fourth quarter data, it tracks predictable variation in future excess stock returns. Low fourth quarter consumption growth rates predict high future excess stock returns such that expected returns are high at business cycle troughs and low...

  19. Pitfalls in VAR based return decompositions: A clarification

    DEFF Research Database (Denmark)

    Engsted, Tom; Pedersen, Thomas Quistgaard; Tanggaard, Carsten

    Based on Chen and Zhao's (2009) criticism of VAR based return de- compositions, we explain in detail the various limitations and pitfalls involved in such decompositions. First, we show that Chen and Zhao's interpretation of their excess bond return decomposition is wrong: the residual component......, the asset price needs to be included as a state variable. In parts of Chen and Zhao's analysis the price does not appear as a state variable, thus rendering those parts of their analysis invalid. Finally, we clarify the intriguing issue of the role of the residual component in equity return decompositions...

  20. Risk and return: Long-run relations, fractional cointegration, and return predictability

    DEFF Research Database (Denmark)

    Bollerslev, Tim; Osterrieder, Daniela; Sizova, Natalia

    2013-01-01

    Univariate dependencies in market volatility, both objective and risk neutral, are best described by long-memory fractionally integrated processes. Meanwhile, the ex post difference, or the variance swap payoff reflecting the reward for bearing volatility risk, displays far less persistent dynamics....... Using intraday data for the Standard & Poor's 500 and the volatility index (VIX), coupled with frequency domain methods, we separate the series into various components. We find that the coherence between volatility and the volatility-risk reward is the strongest at long-run frequencies. Our results...... results in nontrivial return predictability over interdaily and monthly horizons, supporting the idea that the cointegrating relation between the two variance measures proxies for the economic uncertainty rewarded by the market....

  1. Cleaning Genesis Sample Return Canister for Flight: Lessons for Planetary Sample Return

    Science.gov (United States)

    Allton, J. H.; Hittle, J. D.; Mickelson, E. T.; Stansbery, Eileen K.

    2016-01-01

    Sample return missions require chemical contamination to be minimized and potential sources of contamination to be documented and preserved for future use. Genesis focused on and successfully accomplished the following: - Early involvement provided input to mission design: a) cleanable materials and cleanable design; b) mission operation parameters to minimize contamination during flight. - Established contamination control authority at a high level and developed knowledge and respect for contamination control across all institutions at the working level. - Provided state-of-the-art spacecraft assembly cleanroom facilities for science canister assembly and function testing. Both particulate and airborne molecular contamination was minimized. - Using ultrapure water, cleaned spacecraft components to a very high level. Stainless steel components were cleaned to carbon monolayer levels (10 (sup 15) carbon atoms per square centimeter). - Established long-term curation facility Lessons learned and areas for improvement, include: - Bare aluminum is not a cleanable surface and should not be used for components requiring extreme levels of cleanliness. The problem is formation of oxides during rigorous cleaning. - Representative coupons of relevant spacecraft components (cut from the same block at the same time with identical surface finish and cleaning history) should be acquired, documented and preserved. Genesis experience suggests that creation of these coupons would be facilitated by specification on the engineering component drawings. - Component handling history is critical for interpretation of analytical results on returned samples. This set of relevant documents is not the same as typical documentation for one-way missions and does include data from several institutions, which need to be unified. Dedicated resources need to be provided for acquiring and archiving appropriate documents in one location with easy access for decades. - Dedicated, knowledgeable

  2. The Individual Economic Returns to Volunteering in Work Life

    DEFF Research Database (Denmark)

    Qvist, Hans-Peter; Munk, Martin David

    2018-01-01

    This article examines the individual economic returns to volunteering during different stages of working life. The article uses a unique panel dataset created by combining rich survey data from Denmark with information on wages from administrative registers covering the period from 2004 to 2012....... Applying a two-way fixed effects regression model that controls for both period-specific and individual-specific effects, the article finds that for labour market entrants and for people in the early stages of their working life, an additional year of volunteer work experience yields a significant positive...... return. However, the economic returns to volunteer work experience decrease as a function of professional labour market experience. For people with more than six years of professional labour market experience, the economic returns to volunteer work experience are insignificant. On these grounds...

  3. 5 in 1 Drill For Mars Sample Return Mission Project

    Data.gov (United States)

    National Aeronautics and Space Administration — NASA is investigating a Mars Sample Return Mission, consisting of at least three separate missions: 1) Mars Astrobiology Explorer-Cacher, MAX-C (sample acquisition...

  4. On-Board Pressurization Systems for Sample Return Missions Project

    Data.gov (United States)

    National Aeronautics and Space Administration — To-date, the realization of high-performance liquid bipropellant rocket engines for ascent vehicle and sample return applications has largely been hindered by the...

  5. 78 FR 41128 - Market Test of International Merchandise Return Service

    Science.gov (United States)

    2013-07-09

    ... POSTAL REGULATORY COMMISSION [Docket No. MT2013-2; Order No. 1771] Market Test of International... Service of Market Test of Experimental Product--International Merchandise Return Service--Non- Published... important part of [[Page 41129

  6. Daily happiness and stock returns: Some international evidence

    Science.gov (United States)

    Zhang, Wei; Li, Xiao; Shen, Dehua; Teglio, Andrea

    2016-10-01

    In this paper, we examine the relations between the daily happiness sentiment extracted from Twitter and the stock market performance in 11 international stock markets. By partitioning this happiness sentiment into quintiles from the least to the happiest days, we first show that the contemporary correlation coefficients between happiness sentiment and index return in the 4 and most-happiness subgroups are higher than that in least, 2 and 3-happiness subgroups. Secondly, the happiness sentiment can provide additional explanatory power for index return in the most-happiness subgroup. Thirdly, the daily happiness can granger-cause the changes in index return for the majority of stock markets. Fourthly, we find that the index return and the range-based volatility of the most-happiness subgroup are larger than those of other subgroups. These results highlight the important role of social media in stock market.

  7. Low Cost Mars Sample Return Utilizing Dragon Lander

    Data.gov (United States)

    National Aeronautics and Space Administration — We studied a Mars sample return (MSR) mission that lands a SpaceX Dragon Capsule on Mars carrying sample collection hardware (an arm, drill, or small rover) and a...

  8. Return to Work after an Acute Coronary Syndrome: Patients’ Perspective

    Directory of Open Access Journals (Sweden)

    Frans G. Slebus

    2012-06-01

    Conclusion: Within 2 years, 36% of the patients had not returned to work at their pre-ACS levels. Disease factors, functional capacity, environmental factors, and personal factors were listed as affecting subjects’ work ability level.

  9. SPHERES Mars Orbiting Sample Return External Orbiting Capture Project

    Data.gov (United States)

    National Aeronautics and Space Administration — NASA's Mars Sample Return (MSR) mission scenario utilizes a small Orbiting Sample (OS) satellite, launched from the surface of Mars, which will rendezvous with an...

  10. Effects of intraday weather changes on asset returns and volatilities

    Directory of Open Access Journals (Sweden)

    Hyein Shim

    2017-12-01

    Full Text Available Analyzing the intraday dataset on weather and market information with the use of the extended GJR-GARCH framework, this study explores in depth the weather effects on the asset returns and volatilities of the Korean stock and derivatives markets. Our intraday analyses contribute to the existing literature by going beyond the attempt of prior studies to capture the weather effects using the average daily observations alone. The empirical results document a modest presence of the weather effect on the returns and volatilities, though the significance of its impact is found to vary across different market conditions and indices. We also find that the return and volatility respond asymmetrically to extremely good and bad weather conditions. The intraday analyses show that the weather effect on the returns and volatilities is more statistically significant at the beginning of the working day or the lunch break, indicating the intraday weather effects on the financial market.

  11. Multifractal analysis of Moroccan family business stock returns

    Science.gov (United States)

    Lahmiri, Salim

    2017-11-01

    In this paper, long-range temporal correlations at different scales in Moroccan family business stock returns are investigated. For comparison purpose, presence of multifractality is also investigated in Casablanca Stock Exchange (CSE) major indices: MASI which is the all shares index and MADEX which is the index of most liquid shares. It is found that return series of both family business companies and major stock market indices show strong evidence of multifractality. In particular, empirical results reveal that short (long) fluctuations in family business stock returns are less (more) persistent (anti-persistent) than short fluctuations in market indices. In addition, both serial correlation and distribution characteristics significantly influence the strength of the multifractal spectrums of CSE and family business stocks returns. Furthermore, results from multifractal spectrum analysis suggest that family business stocks are less risky. Thus, such differences in price dynamics could be exploited by investors and forecasters in active portfolio management.

  12. A New Method to Calculate Internal Rate of Return

    Directory of Open Access Journals (Sweden)

    azadeh zandi

    2015-09-01

    Full Text Available A number of methods have been developed to choose the best capital investment projects such as net present value, internal rate of return and etc. Internal rate of return method is probably the most popular method among managers and investors. But despite the popularity there are serious drawbacks and limitations in this method. After decades of efforts made by economists and experts to improve the method and its shortcomings, Magni in 2010 has revealed a new approach that can solves the most of internal rate of return method problems. This paper present a new method which is originated from Magni’s approach but has much more simple calculations and can resolve all the drawbacks of internal rate of return method.

  13. Optimizing Materials for Energy Harvesting on Interplanetary Return Missions

    Data.gov (United States)

    National Aeronautics and Space Administration — Manned interplanetary missions will only be desirable once the ability to return is established. Even using improved fuel technologies we have not resourced the fuel...

  14. Curation and Handling for a Mars Sample Return Mission

    Science.gov (United States)

    Lussier, J. D.; Skiba, T.; Ziemlewski, J. I.; McNamara, K. M.; Stansbery, E. K.; Agee, C. B.

    2000-01-01

    A prototype handling system to provide control of biological contamination of Earth by returned Mars samples while maintaining the chemical and biological integrity of those samples was designed, constructed and tested.

  15. Rehabilitation and return to sport after hamstring strain injury

    Directory of Open Access Journals (Sweden)

    Lauren N. Erickson

    2017-09-01

    Full Text Available Hamstring strain injuries are common among sports that involve sprinting, kicking, and high-speed skilled movements or extensive muscle lengthening-type maneuvers with hip flexion and knee extension. These injuries present the challenge of significant recovery time and a lengthy period of increased susceptibility for recurrent injury. Nearly one third of hamstring strains recur within the first year following return to sport with subsequent injuries often being more severe than the original. This high re-injury rate suggests that athletes may be returning to sport prematurely due to inadequate return to sport criteria. In this review article, we describe the epidemiology, risk factors, differential diagnosis, and prognosis of an acute hamstring strain. Based on the current available evidence, we then propose a clinical guide for the rehabilitation of acute hamstring strains and an algorithm to assist clinicians in the decision-making process when assessing readiness of an athlete to return to sport.

  16. Returning to work after cancer: know your rights

    Science.gov (United States)

    ... that help you quit smoking Working With Your Employer When returning to work, there are some things ... M. is also a founding member of Hi-Ethics and subscribes to the principles of the Health ...

  17. Partial anomalous pulmonary venous return in patients with pulmonary hypertension

    International Nuclear Information System (INIS)

    Sung, Won-kyung; Au, Virginia; Rose, Anand

    2012-01-01

    Anomalous pulmonary venous return is an uncommon congenital malformation, and may be partial or total. Partial anomalous pulmonary venous return (PAPVR) is more common than total anomalous pulmonary venous return, and is often associated with other congenital cardiac anomalies. Whilst many patients with PAPVR remain asymptomatic, some may present in later age with symptoms related to left-to-right shunt, right heart failure and pulmonary hypertension. We report two cases of PAPVR detected on Computed Tomography Pulmonary Angiogram (CTPA) for the work up of pulmonary hypertension. The cases demonstrate that, although uncommon, partial anomalous pulmonary venous return can be a contributing factor to pulmonary hypertension and pulmonary veins should be carefully examined when reading a CTPA study.

  18. Supply Chain Management of a Modular Product with Returns

    DEFF Research Database (Denmark)

    Ulku, M. Ali; Hsuan, Juliana; Yu, Dennis

    Modularity and returns relate to sustainability. In a retailer-manufacturer setting and when the demand for a returnable product depends on both price and modularity level, we develop a profit-maximizing stochastic model. The solution includes optimal expressions for the price, and the order quan...... quantity. We derive managerial insights from our structural and numerical results relating to the management of such a perishable product and its implications on sustainable supply chain management.......Modularity and returns relate to sustainability. In a retailer-manufacturer setting and when the demand for a returnable product depends on both price and modularity level, we develop a profit-maximizing stochastic model. The solution includes optimal expressions for the price, and the order...

  19. Mars Sample Return: Mars Ascent Vehicle Mission and Technology Requirements

    Science.gov (United States)

    Bowles, Jeffrey V.; Huynh, Loc C.; Hawke, Veronica M.; Jiang, Xun J.

    2013-01-01

    A Mars Sample Return mission is the highest priority science mission for the next decade recommended by the recent Decadal Survey of Planetary Science, the key community input process that guides NASAs science missions. A feasibility study was conducted of a potentially simple and low cost approach to Mars Sample Return mission enabled by the use of developing commercial capabilities. Previous studies of MSR have shown that landing an all up sample return mission with a high mass capacity lander is a cost effective approach. The approach proposed is the use of an emerging commercially available capsule to land the launch vehicle system that would return samples to Earth. This paper describes the mission and technology requirements impact on the launch vehicle system design, referred to as the Mars Ascent Vehicle (MAV).

  20. Small Probes for Orbital Return of Experiments Mission Design

    Data.gov (United States)

    National Aeronautics and Space Administration — Currently the Georgia Tech Small Probes for Orbital Return of Experiments (SPORE) team is collaborating with Aurora Flight Sciences to provide a launch, re-entry,...

  1. INDIKATOR MAKROEKONOMI DAN RETURN SAHAM SYARIAH DI INDONESIA

    Directory of Open Access Journals (Sweden)

    Utami Baroroh

    2016-02-01

    Full Text Available The objectives of this study are to examine empirical test the long term equilibrium and simulteneous relationship between macroeconomics variables to stock return in Indonesia and to observe stock return response because shock/innovation of inflation, SBI discount rate and exchange rate Rupiah to US dollar. The data sample used in this study are monthly time series data from 2003.1 – 2010.6. Those data are SBI discount rate, inflation (CPI, exchange rate Rupiah to US dollar, money supply and stock return (IHSG. A method of analysis in this study are Granger Causality Test and Cointegration test. The empirical results shows that SBI discount rate, inflation (CPI, and exchange rate Rupiah to US dollar have causality relationship to stock return.. The cointegration test indicates that among research variables there is long term equilibrium and simultaneous relationshipDOI: 10.15408/sjie.v2i2.2421

  2. Mobility, return for development and sense of Europe: narratives of Moldavian immigrants returning from the European Union

    Directory of Open Access Journals (Sweden)

    Silvia Marcu

    Full Text Available The article links migration, cross-border mobility and return for development embedded in terms of identity and approach to sense of Europe. Taking into account the global changes in Moldova, the paper examines the perceptions of mobility, return and identity of the Moldovans engaged in emigration in the countries of the European Union (EU. Utilising a multi-discipline approach and an in-depth qualitative interview technique, this article seeks to analyze how mobility and return can support social change and development of the country, and argues that people, who cross EU borders, living through the experience of emigration, acquire a pro-European mentality.

  3. Macroeconomic Factors and the Correlation of Stock and Bond Returns

    OpenAIRE

    Lingfeng Li

    2003-01-01

    This paper examines the correlation between stock and bond returns. It first documents that the major trends in stock-bond correlation for G7 countries follow a similar reverting pattern in the past forty years. Next, an asset pricing model is employed to show that the correlation of stock and bond returns can be explained by their common exposure to macroeconomic factors. The link between the stock-bond correlation and macroeconomic factors is examined using three successively more realistic...

  4. Agglomeration Economies and Local Comovement of Stock Returns

    OpenAIRE

    Fu, Shihe; Shan, Liwei

    2011-01-01

    Existing studies in finance have documented the comovement of stock returns of companies headquartered in the same location. The interpretation is that local investors have a “local bias” due to an information advantage on local companies. This paper argues that localized agglomeration economies affect the fundamentals of local companies, resulting in the local comovement of stock returns. Using the data for China A-share listed companies from 1997-2007, we confirm the local comovement of sto...

  5. Investment Returns and Economic Fundamentals in International Art Markets

    OpenAIRE

    Renneboog, L.D.R.; Spaenjers, C.

    2014-01-01

    Abstract: Works of art are neither easily tradable across borders, nor evaluated according to globally identical standards. We examine geographical segmentation and its effects on price formation and returns in the international art auction market. We find (i) a close connection between the country of sale and the type (e.g., nationality) of artworks sold; (ii) substantial international variation in average returns to art investments over the period 1971-2007; (iii) an impact of both global a...

  6. Absolute Stock Returns and Trading Volumes: Psychological Insights

    OpenAIRE

    Andrey Kudryavtsev

    2017-01-01

    The present study explores the effect of anchoring on stock trading volumes. I hypothesize that if on the days when the market index rises (falls), a given stock's return is higher (lower) than the market return, potentially perceived as a psychological "anchor", then investors may treat that as a salient event and subsequently increase their trading activity in the stock. Employing a large sample of daily price and trading volume data, I find support for this hypothesis, documentin...

  7. Return to play guidelines after a head injury.

    Science.gov (United States)

    Cantu, R C

    1998-01-01

    Presently there are no universally accepted definitions of the grades of concussion or criteria for when to allow the athlete to return to competition after a head injury. What is agreed upon is that in order to avoid cumulative brain damage and the second impact syndrome, no athlete still suffering post-concussion symptoms should return to competition. This article is meant to serve only as a guideline as the final decision in every instance is a clinical judgement.

  8. The Review of Stock Returns and Macroeconomic Variables

    OpenAIRE

    Ali Umar Ahmad; Adam Abdullah; Zunaidah Sulong; Ahmad Tijjani Abdullahi

    2015-01-01

    This study aims to review a number of studies on stock market returns and macroeconomic variables. The reviewed literature are categorised into three groups: literature related to developed countries, literature related to developing countries, and literature related to group countries. Moreover, the various empirical studies reviewed show mixed results and conclusions. In some studies, strong positive relationships are found to exist between stock returns and macroeconomic fundamentals and i...

  9. Implied volatility indices as leading indicators of stock index returns ?

    OpenAIRE

    GIOT, Pierre

    2002-01-01

    This paper shows that, when the VIX or VXN indices of implied volatility increase, the S&P100 and NASDAQ100 stock indices exhibit on average negative returns, hence the 'fear factor' associated with high levels of implied volatility in financial markets. However, attractive (from a mean-variance perspective) positive returns should then be expected on average in the immediate short-term. In this framework, very high levels of implied volatility can on a statistical basis be viewed as signalli...

  10. The impact of RFID on management of returnable containers

    OpenAIRE

    Thoroe, Lars; Melski, Adam; Schumann, Matthias

    2009-01-01

    Inventory shrinkage is a common problem in the management of returnable containers. RFID-based container tracking systems have been proposed as a possible solution. Benefits of RFID-based tracking of returnable transport items such as pallets, kegs and boxes are documented in several case studies, but have so far hardly been analyzed from a theoretical perspective. In this article, we analyze the impact of RFID on container management using a deterministic inventory model. The analysis focuse...

  11. 25 CFR 90.43 - Canvass of election returns.

    Science.gov (United States)

    2010-04-01

    ... TRIBE Elections § 90.43 Canvass of election returns. (a) Immediately after the polls are closed at 8 p.m... appearing at the poll; all tally sheets; and all other election materials shall be placed in the ballot box... 25 Indians 1 2010-04-01 2010-04-01 false Canvass of election returns. 90.43 Section 90.43 Indians...

  12. An analysis of Bitcoin OP_RETURN metadata

    OpenAIRE

    Bartoletti, Massimo; Pompianu, Livio

    2017-01-01

    The Bitcoin protocol allows to save arbitrary data on the blockchain through a special instruction of the scripting language, called OP_RETURN. A growing number of protocols exploit this feature to extend the range of applications of the Bitcoin blockchain beyond transfer of currency. A point of debate in the Bitcoin community is whether loading data through OP_RETURN can negatively affect the performance of the Bitcoin network with respect to its primary goal. This paper is an empirical stud...

  13. Estimating the Ex Ante Expected Returns to College

    OpenAIRE

    Andrew J. Hussey; Omari H. Swinton

    2011-01-01

    Rather than estimating the returns to obtaining a college degree, this paper treats the college education decision as an uncertain investment involving varying likelihoods of successful graduation. We predict earnings conditional on both graduating and not graduating from both selective and non-selective institutions, and incorporate estimated individual-specific graduation rates in calculating the ex ante expected returns from college attendance for individuals across the ability distributio...

  14. One hundred years of return period: Strengths and limitations

    Science.gov (United States)

    Volpi, E.; Fiori, A.; Grimaldi, S.; Lombardo, F.; Koutsoyiannis, D.

    2015-10-01

    One hundred years from its original definition by Fuller, the probabilistic concept of return period is widely used in hydrology as well as in other disciplines of geosciences to give an indication on critical event rareness. This concept gains its popularity, especially in engineering practice for design and risk assessment, due to its ease of use and understanding; however, return period relies on some basic assumptions that should be satisfied for a correct application of this statistical tool. Indeed, conventional frequency analysis in hydrology is performed by assuming as necessary conditions that extreme events arise from a stationary distribution and are independent of one another. The main objective of this paper is to investigate the properties of return period when the independence condition is omitted; hence, we explore how the different definitions of return period available in literature affect results of frequency analysis for processes correlated in time. We demonstrate that, for stationary processes, the independence condition is not necessary in order to apply the classical equation of return period (i.e., the inverse of exceedance probability). On the other hand, we show that the time-correlation structure of hydrological processes modifies the shape of the distribution function of which the return period represents the first moment. This implies that, in the context of time-dependent processes, the return period might not represent an exhaustive measure of the probability of failure, and that its blind application could lead to misleading results. To overcome this problem, we introduce the concept of Equivalent Return Period, which controls the probability of failure still preserving the virtue of effectively communicating the event rareness.

  15. The Cross-Section of Expected Stock Returns.

    OpenAIRE

    Fama, Eugene F; French, Kenneth R

    1992-01-01

    Two easily measured variables, size and book-to-market equity, combine to capture the cross-sectional variation in average stock returns associated with market "beta", size, leverage, book-to-market equity, and earnings-price ratios. Moreover, when the tests allow for variation in "beta" that is unrelated to size, t he relation between market "beta" and average return is flat, even when "beta" is the only explanatory variable. Copyright 1992 by American Finance Association.

  16. SIGNIFIKANSI DAN IMPLIKASI PERBEDAAN SPESIFIKASI RETURN DALAM PENELITIAN PASAR MODAL

    Directory of Open Access Journals (Sweden)

    DEWA GEDE WIRAMA

    2009-07-01

    Full Text Available The purpose of this research is to determine the statisticalsignificance and implication of various specifications of stock return.Three specifications are considered, i.e. return that (1 ignoresdividend, (2 ignores the proceed from further investment ofdividend, and (3 assumes that dividend is reinvested in the samestock. The differences among the three specifications are analyzedunder one, four, and seven years of investment periods.Using a sample consisted of 102 companies listed on theIndonesian Stock Market during the seven year period starting fromthe beginning of 2001, it is found that each return specificationresults in return numbers that in general are statistically differentfrom each other. The only insignificant difference is the differencebetween return that ignores proceed from further investment ondividend and the one that assumes that dividend is reinvested in thesame stock for one year of investment in stock.The implication of the differences in returns calculated undereach specification is further analyzed using an association studythat regresses market return on accounting return (ROE in the sameone, four, and seven year periods of investment. Each returnspecification produces different R2s and betas. Statisticallysignificant differences are found in the analysis with four and sevenyear periods of investment, except for the difference between returnsthat, again, ignores the proceed from further investment on dividendand the one that assumes that dividend is reinvested in the samestock for seven years of investment in stock.The conclusion of this research is that ignoring dividend inreturn calculation might lead to inaccurate results. The impact ofignoring further investment of dividend is somewhat less severethan the impact of ignoring dividend altogether.

  17. 26 CFR 301.6103(j)(5)-1 - Disclosures of return information reflected on returns to officers and employees of the...

    Science.gov (United States)

    2010-04-01

    ... agriculture. 301.6103(j)(5)-1 Section 301.6103(j)(5)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT... Returns Returns and Records § 301.6103(j)(5)-1 Disclosures of return information reflected on returns to...) General rule. Pursuant to the provisions of section 6103(j)(5) of the Internal Revenue Code and subject to...

  18. Investigating different factors influencing on return of private banks

    Directory of Open Access Journals (Sweden)

    Pegah Motamedi

    2013-09-01

    Full Text Available Return of Investment has always been an interesting area of research among academics as well as investors. Although capital asset pricing model (CAPM is capable of estimating risk of investment, many people argue that CAPM is not able to predict long-term return, properly. This paper presents an empirical investigation to find the effects of different financial figures including systematic risk (Beta, size of firm, ratio of book value to market share, volume of trade and the ratio of price/earnings (P/E on return of private banks in Iran. The study gathers the necessary information over the period 2005-2011 from private banks in Iran. The study uses multiple regression technique to find the effects of mentioned variables on return of private banks. The results indicate that there are some meaningful and positive relationship between return of banks and systematic risk (Beta, size, volume of trade and P/E. The study also finds some meaningful and reverse relationship between bank return and book value on market value.

  19. Return to sports after ankle fractures: a systematic review.

    Science.gov (United States)

    Del Buono, Angelo; Smith, Rebecca; Coco, Manuela; Woolley, Laurence; Denaro, Vincenzo; Maffulli, Nicola

    2013-01-01

    This review aims to provide information on the time athletes will take to resume sports activity following ankle fractures. We systematically searched Medline (PubMED), EMBASE, CINHAL, Cochrane, Sports Discus and Google scholar databases using the combined keywords 'ankle fractures', 'ankle injuries', 'athletes', 'sports', 'return to sport', 'recovery', 'operative fixation', 'pinning', 'return to activity' to identify articles published in English, Spanish, French, Portuguese and Italian. Seven retrospective studies fulfilled our inclusion criteria. Of the 793 patients, 469 (59%) were males and 324 (41%) were females, and of the 356 ankle fractures we obtained information on, 338 were acute and 18 stress fractures. The general principles were to undertake open reduction and internal fixation of acute fractures, and manage stress fractures conservatively unless a thin fracture line was visible on radiographs. The best timing to return to sports after an acute ankle fracture is still undefined, given the heterogeneity of the outcome measures and results. The time to return to sports after an acute stress injury ranged from 3 to 51 weeks. When facing athletes with ankle fractures, associated injuries have to be assessed and addressed to improve current treatment lines and satisfy future expectancies. The best timing to return to sports after an ankle fracture has not been established yet. The ideas of the return to activity parameter and surgeon databases including sports-related information could induce research to progress.

  20. Weibo sentiments and stock return: A time-frequency view

    Science.gov (United States)

    Liu, Zhixin; Zhao, Jichang; Su, Chiwei

    2017-01-01

    This study provides new insights into the relationships between social media sentiments and the stock market in China. Based on machine learning, we classify microblogs posted on Sina Weibo, a Twitter’s variant in China into five detailed sentiments of anger, disgust, fear, joy, and sadness. Using wavelet analysis, we find close positive linkages between sentiments and the stock return, which have both frequency and time-varying features. Five detailed sentiments are positively related to the stock return for certain periods, particularly since October 2014 at medium to high frequencies of less than ten trading days, when the stock return is undergoing significant fluctuations. Sadness appears to have a closer relationship with the stock return than the other four sentiments. As to the lead-lag relationships, the stock return causes Weibo sentiments rather than reverse for most of the periods with significant linkages. Compared with polarity sentiments (negative vs. positive), detailed sentiments provide more information regarding relationships between Weibo sentiments and the stock market. The stock market exerts positive effects on bullishness and agreement of microblogs. Meanwhile, agreement leads the stock return in-phase at the frequency of approximately 40 trading days, indicating that less disagreement improves certainty about the stock market. PMID:28672026

  1. THE INFLUENCE OF CORPORATE FINANCIAL PERFORMANCE ON SHARE RETURN

    Directory of Open Access Journals (Sweden)

    Ghulam Nurul Huda

    2015-09-01

    Full Text Available This study was conducted to examine the effect of financial performances of Economic Value Added (EVA, Market Value Added (MVA as well as financial ratios (Fixed Asset Turnover, Return on Investment, Debt to Equity Ratio, Price to Book Value, Total Asset Turnover on Stock Return. This study used the data of six representative palm oil companies which were listed in Indonesia Stock Exchange. The analysis models that were used included three multiple regression equations for EVA, MVA and Stock Return. The results indicate that DER significantly influences EVA and PBV, and TATO significantly influences MVA. Return Shares are significantly only affected by EVA. The company's fundamentals, especially EVA, PBV, TATO and DER were used by investors to predict the Stock Return in Indonesia Stock Exchange in 2009–2014 period. This study confirmed the previous studies that these variables are involved on regression model to predict the Stock Return. The results of the analysis of the company's financial performance with EVA and MVA and financial fundamental variables provide a better alternative picture on the achievement of the company so that the benefits in investing in the palm oil business in Indonesia can be maximally managed.Keywords: Indonesia Stock Exchange, investor, market, multiple regression, stock

  2. Variety of Behavior of Equity Returns in Financial Markets

    Science.gov (United States)

    Bonanno, Giovanni; Lillo, Fabrizio; Mantegna, Rosario N.

    2001-03-01

    The price dynamics of a set of equities traded in an efficient market is pretty complex. It consists of almost not redundant time series which have (i) long-range correlated volatility and (ii) cross-correlation between each pair of equities. We perform a study of the statistical properties of an ensemble of equities returns which is fruitful to elucidate the nature and role of time and ensemble correlation. Specifically, we investigate a statistical ensemble of daily returns of n equities traded in United States financial markets. For each trading day of our database, we study the ensemble return distribution. We find that a typical ensemble return distribution exists in most of the trading days [1] with the exception of crash and rally days and of the days following to these extreme events [2]. We analyze each ensemble return distribution by extracting its first two central moments. We call the second moment of the ensemble return distribution the variety of the market. We choose this term because high variety implies a variated behavior of the equities returns in the considered day. We observe that the mean return and the variety are fluctuating in time and are stochastic processes themselves. The variety is a long-range correlated stochastic process. Customary time-averaged statistical properties of time series of stock returns are also considered. In general, time-averaged and portfolio-averaged returns have different statistical properties [1]. We infer from these differences information about the relative strength of correlation between equities and between different trading days. We also compare our empirical results with those predicted by the single-index model and we conclude that this simple model is unable to explain the statistical properties of the second moment of the ensemble return distribution. Correlation between pairs of equities are continuously present in the dynamics of a stock portfolio. Hence, it is relevant to investigate pair correlation

  3. Return to Sport After Tibial Shaft Fractures: A Systematic Review.

    Science.gov (United States)

    Robertson, Greg A J; Wood, Alexander M

    2016-07-01

    Acute tibial shaft fractures represent one of the most severe injuries in sports. Return rates and return-to-sport times after these injuries are limited, particularly with regard to the outcomes of different treatment methods. To determine the current evidence for the treatment of and return to sport after tibial shaft fractures. OVID/MEDLINE (PubMed), EMBASE, CINAHL, Cochrane Collaboration Database, Web of Science, PEDro, SPORTDiscus, Scopus, and Google Scholar were all searched for articles published from 1988 to 2014. Inclusion criteria comprised studies of level 1 to 4 evidence, written in the English language, that reported on the management and outcome of tibial shaft fractures and included data on either return-to-sport rate or time. Studies that failed to report on sporting outcomes, those of level 5 evidence, and those in non-English language were excluded. Systematic review. Level 4. The search used combinations of the terms tibial, tibia, acute, fracture, athletes, sports, nonoperative, conservative, operative, and return to sport. Two authors independently reviewed the selected articles and created separate data sets, which were subsequently combined for final analysis. A total of 16 studies (10 retrospective, 3 prospective, 3 randomized controlled trials) were included (n = 889 patients). Seventy-six percent (672/889) of the patients were men, with a mean age of 27.7 years. Surgical management was assessed in 14 studies, and nonsurgical management was assessed in 8 studies. Return to sport ranged from 12 to 54 weeks after surgical intervention and from 28 to 182 weeks after nonsurgical management (mean difference, 69.5 weeks; 95% CI, -83.36 to -55.64; P Fractures treated surgically had a return-to-sport rate of 92%, whereas those treated nonsurgically had a return rate of 67% (risk ratio, 1.37; 95% CI, 1.20 to 1.57; P displaced fractures and to attempt nonsurgical management for undisplaced fractures. Primary surgical intervention of undisplaced

  4. Returning individual research results for genome sequences of pancreatic cancer

    Science.gov (United States)

    2014-01-01

    Background Disclosure of individual results to participants in genomic research is a complex and contentious issue. There are many existing commentaries and opinion pieces on the topic, but little empirical data concerning actual cases describing how individual results have been returned. Thus, the real life risks and benefits of disclosing individual research results to participants are rarely if ever presented as part of this debate. Methods The Australian Pancreatic Cancer Genome Initiative (APGI) is an Australian contribution to the International Cancer Genome Consortium (ICGC), that involves prospective sequencing of tumor and normal genomes of study participants with pancreatic cancer in Australia. We present three examples that illustrate different facets of how research results may arise, and how they may be returned to individuals within an ethically defensible and clinically practical framework. This framework includes the necessary elements identified by others including consent, determination of the significance of results and which to return, delineation of the responsibility for communication and the clinical pathway for managing the consequences of returning results. Results Of 285 recruited patients, we returned results to a total of 25 with no adverse events to date. These included four that were classified as medically actionable, nine as clinically significant and eight that were returned at the request of the treating clinician. Case studies presented depict instances where research results impacted on cancer susceptibility, current treatment and diagnosis, and illustrate key practical challenges of developing an effective framework. Conclusions We suggest that return of individual results is both feasible and ethically defensible but only within the context of a robust framework that involves a close relationship between researchers and clinicians. PMID:24963353

  5. Planetary protection considerations for sample-return missions

    Science.gov (United States)

    Rummel, J.

    The analysis on Earth of materials returned from other solar system bodies, and beyond, is likely one of the most effective ways for us to learn about the origins, history, and present state of the universe outside of our home planet. In the past, the Apollo missions were able to return large quantities of material from the Moon, while missions currently flying (Genesis and Stardust) intend to return much smaller quantities of material. Planned and conceptualized future missions (cf., MUSES-C) intend to return a wide variety of samples such as those from a near-Earth asteroid, the surface and atmosphere of Mars , and perhaps once more from the Earth's Moon. In some cases, the bodies targeted for sample return missions may have the capability of harboring indigenous life, while in other cases there is scant possibility of that. Considerations in determining the potential for extraterrestrial contamination from sample return missions have been studied, and include such factors as the availability of liquid water in or on the target body, the availability of m tabolicallye useful energy sources, the likelihood that organic matter was available, and the overall temperature and radiation history of the sampled areas. Also of note is the potential that the natural influx to Earth of that materials in question (e.g., meteorites, etc.) might overwhelm the ability of a targeted sample-return mission to contribute something novel to the Earth's environment. Missions thought to pose a risk of extraterrestrial biological contamination are subject to a containment provision that may be very difficult to implement on a single, moderate-cost mission, but such steps are necessary to protect both our own planet and the health of solar-system exploration missions and the science they can do.

  6. Acute respiratory infections among returning Hajj pilgrims-Jordan, 2014.

    Science.gov (United States)

    Al-Abdallat, Mohammad Mousa; Rha, Brian; Alqasrawi, Sultan; Payne, Daniel C; Iblan, Ibrahim; Binder, Alison M; Haddadin, Aktham; Nsour, Mohannad Al; Alsanouri, Tarek; Mofleh, Jawad; Whitaker, Brett; Lindstrom, Stephen L; Tong, Suxiang; Ali, Sami Sheikh; Dahl, Rebecca Moritz; Berman, LaShondra; Zhang, Jing; Erdman, Dean D; Gerber, Susan I

    2017-04-01

    The emergence of Middle East Respiratory Syndrome coronavirus (MERS-CoV) has prompted enhanced surveillance for respiratory infections among pilgrims returning from the Hajj, one of the largest annual mass gatherings in the world. To describe the epidemiology and etiologies of respiratory illnesses among pilgrims returning to Jordan after the 2014 Hajj. Surveillance for respiratory illness among pilgrims returning to Jordan after the 2014 Hajj was conducted at sentinel health care facilities using epidemiologic surveys and molecular diagnostic testing of upper respiratory specimens for multiple respiratory pathogens, including MERS-CoV. Among the 125 subjects, 58% tested positive for at least one virus; 47% tested positive for rhino/enterovirus. No cases of MERS-CoV were detected. The majority of pilgrims returning to Jordan from the 2014 Hajj with respiratory illness were determined to have a viral etiology, but none were due to MERS-CoV. A greater understanding of the epidemiology of acute respiratory infections among returning travelers to other countries after Hajj should help optimize surveillance systems and inform public health response practices. Published by Elsevier B.V.

  7. The Effect of Stock Return Sequences on Trading Volumes

    Directory of Open Access Journals (Sweden)

    Andrey Kudryavtsev

    2017-10-01

    Full Text Available The present study explores the effect of the gambler’s fallacy on stock trading volumes. I hypothesize that if a stock’s price rises (falls during a number of consecutive trading days, then the gambler’s fallacy may cause at least some of the investors to expect that the stock’s price “has” to subsequently fall (rise, and thus, to increase their willingness to sell (buy the stock, resulting in a stronger degree of disagreement between the investors and a higher-than-usual stock trading volume on the first day when the stock’s price indeed falls (rises. Employing a large sample of daily price and trading volume data, I document that following relatively long sequences of the same-sign stock returns, on the days when the sign is reversed, the trading activity in the respective stocks is abnormally high. Moreover, average abnormal trading volumes gradually and significantly increase with the length of the preceding return sequence. The effect is slightly more pronounced following the sequences of negative stock returns, and remains significant after controlling for other potentially influential factors, including contemporaneous and lagged actual and absolute stock returns, historical stock returns and volatilities, and company-specific events, such as earnings announcements and dividend payments.

  8. On returned wastes accompanying commission of reprocessing to foreign countries

    International Nuclear Information System (INIS)

    Shimoda, Hideo

    1983-01-01

    The radioactive wastes generated accompanying the reprocessing of spent fuel from Japanese nuclear power stations entrusted to the reprocessing companies in Great Britain and France are expected to be returned to Japan from 1990 on. In Japan, the wastes generated from reprocessing are to be dealt with by reprocessing enterprises, but these returned wastes are returned to electric power companies who made the contract to entrust reprocessing, therefore they have become the problem of electric power companies themselves. It is investigated by establishing the expert committee in the Federation of Electric Power Companies, and obtaining assistance from Japan Atomic Energy Research Institute, Power Reactor and Nuclear Fuel Development Corp. and men of learn and experience. The reprocessing plan for spent fuel in Japan, the features of the new reprocessing contract, the tackling organization in electric power companies, the outline of the foreign reprocessing plants, the specification and quantity of the returned wastes, the long term scenario of the management of the returned wastes, the transportation, storage and disposal are described. (Kako, I.)

  9. Estimating Risk and Return Combinations for New Derivatives Funds

    Directory of Open Access Journals (Sweden)

    Alexandre Bona

    2004-12-01

    Full Text Available Active funds are typically managed by placing bets against a well defined passive bench-mark. In this context, when examining the launching of a new actively managed fund with a target expected excess rate of return relative to the benchmark equal to µ, asset managers face the problem of estimating the risk σ of excess rates of return. This estimate is critical to examine whether the product is commercially feasible and to define risk limits for the manager, if the product is launched. This paper proceeds to examine the solution to this problem assuming an especial form of the binomial model, in the context of the market timing structure advanced by Merton (1981. The paper shows that two variables are relevant for the solution of the proposed problem. The first, and the most relevant, is the skill level of the manager. A ore skilled manager is able to operate a less risky product with the same target excess rate of return µ. The second relevant variable is the trade-off between risk and return determined by existing investment opportunities in the market. The smaller the increases in risk exposure required to obtain an increase in excess returns, the less risky the product will be After solving the problem under specific assumptions, the paper proceeds to test empirically their validity using a representative sample of hedge funds in the Brazilian market. The empirical results strongly support the validity of the required assumptions.

  10. Partial anomalous pulmonary venous return in Turner syndrome.

    Science.gov (United States)

    van den Hoven, Allard T; Chelu, Raluca G; Duijnhouwer, Anthonie L; Demulier, Laurent; Devos, Daniel; Nieman, Koen; Witsenburg, Maarten; van den Bosch, Annemien E; Loeys, Bart L; van Hagen, Iris M; Roos-Hesselink, Jolien W

    2017-10-01

    The aim of this study is to describe the prevalence, anatomy, associations and clinical impact of partial anomalous pulmonary venous return in patients with Turner syndrome. All Turner patients who presented at our Turner clinic, between January 2007 and October 2015 were included in this study and underwent ECG, echocardiography and advanced imaging such as cardiac magnetic resonance or computed tomography as part of their regular clinical workup. All imaging was re-evaluated and detailed anatomy was described. Partial anomalous pulmonary venous return was diagnosed in 24 (25%) out of 96 Turner patients included and 14 (58%) of these 24 partial anomalous pulmonary venous return had not been reported previously. Right atrial or ventricular dilatation was present in 11 (46%) of 24 partial anomalous pulmonary venous return patients. When studied with advanced imaging modalities and looked for with specific attention, PAPVR is found in 1 out of 4 Turner patients. Half of these patients had right atrial and/or ventricular dilatation. Evaluation of pulmonary venous return should be included in the standard protocol in all Turner patients. Copyright © 2017. Published by Elsevier B.V.

  11. Health status and the return to work after traffic accidents.

    Science.gov (United States)

    Paiva, Luciana; Pompeo, Daniele Alcalá; Ciol, Márcia Aparecida; Arduini, Glendha Oliveira; Dantas, Rosana Aparecida Spadoti; Senne, Eva Claudia Venâncio de; Rossi, Lídia Aparecida

    2016-06-01

    to compare the health status of traffic accident victims, at hospital discharge and after six months, and to analyze the predictive variables of their health status and return to work. observational, longitudinal study. Data were collected through interviews and medical records of 102 patients with a mean age of 33 years; with the majority being men and victims of motorcycle accidents. The variables were analyzed by means of validated tools, student's t-test, multiple linear regression, and logistic regression. there was an improvement of perception in the patients' health status six months after hospital discharge and functional capacity. The individuals who returned to work showed better health-related quality of life evaluation. improvement of the perceived health status six months after hospital discharge was found. Factors that influenced the patients' return to work were not identified.

  12. US Implied Volatility as A predictor of International Returns

    Directory of Open Access Journals (Sweden)

    Mehmet F. Dicle

    2017-12-01

    Full Text Available This study provides evidence of the US implied volatility’s e ect on international equitymarkets’ returns. This evidence has two main implications: i investors may find that foreign equityreturns adjusting to US implied volatility may not provide true diversification benefits, and ii foreignequity returns may be predicted using US implied volatility. Our sample includes US volatility index(VIX and major equity indexes in twenty countries for the period between January, 2000 throughJuly, 2017. VIX leads eighteen of the international markets and Granger causes seventeen of themarkets after controlling for the S&P-500 index returns and the 2007/2008 US financial crisis. USinvestors looking to diversify US risk may find that international equities may not provide intendeddiversification benefits. Our evidence provides support for predictability of international equity returnsbased on US volatility.

  13. Protecting biodiversity when money matters: maximizing return on investment.

    Directory of Open Access Journals (Sweden)

    Emma C Underwood

    Full Text Available BACKGROUND: Conventional wisdom identifies biodiversity hotspots as priorities for conservation investment because they capture dense concentrations of species. However, density of species does not necessarily imply conservation 'efficiency'. Here we explicitly consider conservation efficiency in terms of species protected per dollar invested. METHODOLOGY/PRINCIPAL FINDINGS: We apply a dynamic return on investment approach to a global biome and compare it with three alternate priority setting approaches and a random allocation of funding. After twenty years of acquiring habitat, the return on investment approach protects between 32% and 69% more species compared to the other priority setting approaches. To correct for potential inefficiencies of protecting the same species multiple times we account for the complementarity of species, protecting up to three times more distinct vertebrate species than alternate approaches. CONCLUSIONS/SIGNIFICANCE: Incorporating costs in a return on investment framework expands priorities to include areas not traditionally highlighted as priorities based on conventional irreplaceability and vulnerability approaches.

  14. Realized Jump Risk and Equity Return in China

    Directory of Open Access Journals (Sweden)

    Guojin Chen

    2014-01-01

    Full Text Available We utilize the realized jump components to explore a new jump (including nonsystematic jump and systematic jump risk factor model. After estimating daily realized jumps from high-frequency transaction data of the Chinese A-share stocks, we calculate monthly jump size, monthly jump standard deviation, and monthly jump arrival rate and then use those monthly jump factors to explain the return of the following month. Our empirical results show that the jump tail risk can explain the equity return. For the large capital-size stocks, large cap stock portfolios, and index, one-month lagged jump risk factor significantly explains the asset return variation. Our results remain the same even when we add the size and value factors in the robustness tests.

  15. Peer tutoring program for academic success of returning nursing students.

    Science.gov (United States)

    Bryer, Jennifer

    2012-01-01

    High attrition rates among students in associate degree nursing programs are a concern for faculty, administrators, and students. Programs offering academic and emotional support for students at risk for failing a clinical course may decrease attrition rates and improve academic performance. A peer tutoring program was developed for returning nursing students who were unsuccessful in a previous clinical course. Peer tutors met with returning students weekly to review course work, complete case studies and practice NCLEX questions. Trusting, supportive relationships developed among students and a significant increase in grades was noted at the end of the course for 79% of students. Implementation of peer tutoring was beneficial for returning students, tutors, and the nursing program and may be valuable in other courses where academic achievement is a concern.

  16. The Emigrants Returned in Cuba: Rights, Duties and Waranties

    Directory of Open Access Journals (Sweden)

    Dra.C. Odette Martínez-Pérez

    2015-11-01

    Full Text Available In this article we approach to one of the less treated issues of the migration phenomenon in our country: the return. After a long time, the Cuban migratory reform of 2012 allows to the Cuban emigrated to go back to their born  country, establishing the procedure and the requirements for that. In this article we propose to analyze with  detail  that norm and expose from our point of view the challenges and consequences of the regulation and practical effects of this juridical institution. We finally consider that the regulation of the return result a wise decision, because the return is an essential right of all emigrated human being and it was necessary to repair that omission in our law.

  17. Reabsorption of returning workers from the Gulf: the Asian experience.

    Science.gov (United States)

    Kazi, S

    1994-01-01

    This study examines trends in return labor migration from the Middle East to South Asia and Southeast Asia. Survey data were used to describe trends in outmigration and socioeconomic characteristics of return migrants and to examine the extent to which return migration is associated with skill level and use of savings and remittances on their return. General trends indicate a decline in outmigration during the late 1980s and early 1990s, after oil prices dropped in 1986. Migrants from Pakistan and Korea declined by half during 1981-85 and by 40% among Indian migrants. The demand for service workers and migrants willing to accept cuts in wages was unaffected. Outmigration from Southeast Asian countries grew in the recent past. These increases were due to the replacement of workers from Jordan and Yemen who were expelled from Saudi Arabia after the Gulf crisis. The shift in occupational demand to service and higher level workers is expected to weaken migration from Pakistan and Bangladesh and to strengthen migration from Sri Lanka and other Southeast Asian countries with a skilled migrant labor force. Outmigration from Southeast Asian countries increased to high-growth destination countries such as Japan, Malaysia, and Singapore. Socioeconomic characteristics of migrants varied by country of origin. For instance, Philippine migrants were better educated. Migrants from Thailand, Bangladesh, and Pakistan were from rural and impoverished areas. Sri Lanka and the Philippines had many women migrants. Return migrants encountered high unemployment. Return migrants to Korea had fewer reemployment problems. Reemployment was associated with local country conditions. Unskilled workers had the highest rates of unemployment. Savings tended to be invested in real estate and housing. Savings and investment from remittance income was high in Sri Lanka, Bangladesh, and Thailand.

  18. Risk of portfolio with simulated returns based on copula model

    Science.gov (United States)

    Razak, Ruzanna Ab; Ismail, Noriszura

    2015-02-01

    The commonly used tool for measuring risk of a portfolio with equally weighted stocks is variance-covariance method. Under extreme circumstances, this method leads to significant underestimation of actual risk due to its multivariate normality assumption of the joint distribution of stocks. The purpose of this research is to compare the actual risk of portfolio with the simulated risk of portfolio in which the joint distribution of two return series is predetermined. The data used is daily stock prices from the ASEAN market for the period January 2000 to December 2012. The copula approach is applied to capture the time varying dependence among the return series. The results shows that the chosen copula families are not suitable to present the dependence structures of each bivariate returns. Exception for the Philippines-Thailand pair where by t copula distribution appears to be the appropriate choice to depict its dependence. Assuming that the t copula distribution is the joint distribution of each paired series, simulated returns is generated and value-at-risk (VaR) is then applied to evaluate the risk of each portfolio consisting of two simulated return series. The VaR estimates was found to be symmetrical due to the simulation of returns via elliptical copula-GARCH approach. By comparison, it is found that the actual risks are underestimated for all pairs of portfolios except for Philippines-Thailand. This study was able to show that disregard of the non-normal dependence structure of two series will result underestimation of actual risk of the portfolio.

  19. Predicting return to work following a cardiac event in Malaysia.

    Science.gov (United States)

    Mustafah, Nadia Mohd; Kasim, Sazzli; Isa, Mohamad Rodi; Hanapiah, Fazah Akhtar; Abdul Latif, Lydia

    2017-01-01

    Return to work is an important aspect for cardiac rehabilitation following a major cardiac event. The aim was to understand the local prevalence and factors associated with returning to work in Malaysia after a cardiac event. A cross sectional design was used. All patients attending the cardiac rehabilitation program after major cardiac event during an 11-months period (2011-2012) were included. Data relating to socio-demographic, work-related, risk factors and acute myocardial infarction were collected. The SF-36 questionnaire was used to assess quality of life. Regression analysis was used to determine the predicting factors to return to work. A total of 398 files were screened, 112 respondents agreed to participate giving a response rate of 47.3%. The prevalence of returned to work (RTW) was 66.1% [95% CI: 57.2-75.0]. Factors associated with work resumption were age (Adj. OR: 0.92 (95% CI: 0.84-0.99), diabetes mellitus (Adj. OR: 3.70, 95% CI: 1.35-10.12), Mental Component Summary (MCS) score (Adj. OR: 1.05 (95% CI: 1.01-1.09) and baseline angiography findings. Patients with single vessel and two vessel disease were 8.9 times and 3.78 times more likely to return to work compared to those with 3 vessels (Adj. OR: 8.90 (95% CI: 2.29-34.64) and Adj. OR: 3.78, (95% CI: 1.12, 12.74). We proposed a cardiac rehabilitation program to emphasize mental health as it may improve successful return to work after cardiac event.

  20. Injury differences in the return-to-work process following a work-related injury: What is the role of return-to-work self-efficacy?

    OpenAIRE

    OLIVER CHARLES BLACK

    2018-01-01

    This thesis investigated the role of self-efficacy in the return-to-work process following a work-related injury. It also contributed knowledge towards understanding the measurement of return-to-work self-efficacy, the relationships between the determinants of return-to-work self-efficacy and actual return-to-work self-efficacy, and the relationship between return-to-work self-efficacy and a sustained return-to-work, across different injury types. The findings from this thesis have direct imp...

  1. FINANCIAL RETURN ON ASSETS. THE IMPACT OF THE FINANCIAL RETURN ON ASSETS OVER THE COMPANY’S DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Constantin Căruntu

    2009-11-01

    Full Text Available The financial rate of return is a significant indicator for assessing the economic and financial performance of an enterprise for the internal diagnosis, as well as for the analysis required by the external partners. The financial return is a basic indicator which characterizes the business performances that is found directly under the trade policy (trade cost, efficiency of capital employed (economic profitability but also under the financial policy of the company. If the economic rate of return expresses a remuneration of the employed capital only in relation to operating activities, the financial rate of return quantifies a remuneration of the private capital trough all three types of activity: operational, financial and extraordinary. Starting from the consideration that the financial rate of return expresses the efficiency of equity or permanent capital use of the company we can state that it is of particular importance to the shareholders of the company, which considers according to it’s level whether their investments are justified and they will continue to support the business development through raising of fresh capital or abandonment for a limited period to one part of the dividends due. Managers, in turn, will be keen on maintaining an appropriate level of this rate, in order to retain their positions and to achieve the performance criteria of the company.

  2. Habit, Production, and the Cross-Section of Stock Returns

    OpenAIRE

    Chen, Andrew Y.

    2014-01-01

    Solutions to the equity premium puzzle should inform us about the cross-section of stock returns. An external habit model with heterogeneous firms reproduces numerous stylized facts about both the equity premium and the value premium. The equity premium is large, time-varying, and linked with consumption volatility. The cross-section of expected returns is log-linear in B/M, and the slope matches the data. The explanation for the value premium lies in the interaction between the cross-section...

  3. Classifying Returns as Extreme: European Stock and Bond Markets

    DEFF Research Database (Denmark)

    Christiansen, Charlotte

    whereby a shorter sample period is needed. For the bond markets the simultaneous extreme return variable (used for analyzing integration and contagion of financial markets) is not statistically different for the two schemes. For the stock markets there are differences, but they are disappearing......I consider the stock and bond markets of 14 EU countries. I use two classification schemes for defining extreme returns: One, the existing univariate classification scheme which considers each market separately. Two, the new multivariate classification scheme that considers all the markets jointly...

  4. What is the Expected Return on a Stock?

    DEFF Research Database (Denmark)

    Martin, Ian; Wagner, Christian

    . We test the theory in-sample by running panel regressions of stock returns onto risk-neutral variances. The formula performs well at 6-month and 1-year forecasting horizons, and our predictors drive out beta, size, book-to-market, and momentum. Out-of-sample, we find that the formula outperforms......We derive a formula that expresses the expected return on a stock in terms of the risk-neutral variance of the market and the stock’s excess risk-neutral variance relative to the average stock. These components can be computed from index and stock option prices; the formula has no free parameters...

  5. What Is the Expected Return on a Stock?

    DEFF Research Database (Denmark)

    Martin, Ian; Wagner, Christian

    . We test the theory in-sample by running panel regressions of stock returns onto risk-neutral variances. The formula performs well at 6-month and 1-year forecasting horizons, and our predictors drive out beta, size, book-to-market, and momentum. Out-of-sample, we find that the formula outperforms......We derive a formula that expresses the expected return on a stock in terms of the risk-neutral variance of the market and the stock's excess risk-neutral variance relative to the average stock. These components can be computed from index and stock option prices; the formula has no free parameters...

  6. A severe transmissible Majocchi's granuloma in an immunocompetent returned traveler

    Directory of Open Access Journals (Sweden)

    James G. Gallo

    2017-12-01

    Full Text Available Severe dermatophyte infection is rare in immunocompetent adults. Recently cases have been described in travelers returning from South East Asia (Luchsinger et al., 2015 [1]. These may be sexually transmitted and can have permanent sequelae. We describe the first reported case of Majocchi's granuloma (MG in an Australian returned traveler and its subsequent transmission via sexual contact. Both patients were successfully treated with systemic antifungals. MG should be considered in patients with severe rash after travel to South East Asia. Keywords: Trichophyton interdigitale, Majocchi's granuloma, Dermatophyte infection, Tinea corporis

  7. PRODUCT RETURNS MANAGEMENT IN THE CLOTHING INDUSTRY IN POLAND

    Directory of Open Access Journals (Sweden)

    Anna Maria Jeszka

    2014-12-01

    Full Text Available Background: The aim of this study is to identify and define on the basis of the literature the principal external and organizational factors and check to what extent they affect the efficiency of returns management as well as any resultant savings. The author proposes a conceptual model which correlates the results of returns management as well as savings with the main determinants identified on the basis of the literature. Then, in the operationalisation phase of the model, the dependent and independent variables were defined in the form of constructs. In accordance with the adopted model, individual constructs were measured based on standardised interviews. Materials and methods:  The results of returns management and any savings generated by this process are affected by certain determinants which are described in the literature. The adopted model included external factors, such as the cooperation of retailers with logistics operators and suppliers, the exchange of information in the supply chain, and organizational behaviour (experience of employees; as well as organizational factors related to the flow of information and IT systems. Due to financial and organisational restrictions, the originally planned representative sample of retail chains was limited to the regions of Wielkopolska and Lubuskie. In the end, 105 interviews were analysed. Results:  The results obtained in the research sample confirm assumptions about the possible potential savings that can be achieved as a result of appropriately conducted corporate policies in the area of reverse logistics. A correlation was also revealed between the experience and competencies of staff and the efficiency of returns management. Conclusions: Research into the factors affecting the efficiency of returns management and any savings resulting from returns management policies have not been conducted in Poland to date. The present study contributes to the growing trend of research into the

  8. Mental Accounting, Loss Aversion, and Individual Stock Returns

    OpenAIRE

    Nicholas Barberis; Ming Huang

    2001-01-01

    We study equilibrium firm-level stock returns in two economies: one in which investors are loss averse over the fluctuations of their stock portfolio and another in which they are loss averse over the fluctuations of individual stocks that they own. Both approaches can shed light on empirical phenomena, but we find the second approach to be more successful: in that economy, the typical individual stock return has a high mean and excess volatility, and there is a large value premium in the cro...

  9. SECTORAL RISK AND RETURN FOR COMPANIES IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Anis Cecilia

    2012-12-01

    Full Text Available probability that cash flows or return will vary from expectations. Standard corporate finance theory supposes that a company chooses a capital structure that maximizes company value. A fundamental idea in finance is the relationship between risk and return. The greater the amount of risk that an investor is willing to take on, the greater the potential return. The reason for this is that investors need to be compensated for taking on additional risk. Why put capital at significant risk for a return that is no higher than the return on government bonds? Or expect higher than averages returns from low-risk activities? It is impossible to separate measuring the performance of a company from the risks that the management takes to achieve it.In most aspects of company operations, risk assessment plays a different but equally important, role. It is an integral part of informed decision taking in achieving performance. Risk assessment is involved from the highest level in strategic choices about what activities to undertake, what assets to buy or what markets to serve all the way to detailed operational decisions about whether to accept payment in foreign currencies and the adequacy of safety measures in the workplace. It plays a part whether or not an organization is aware of managing risk and many managers feel that their instinct and judgment are enough – a behavior risk. The danger is that this leaves company risk unplanned and unmanaged. This paper proposes a framework where we realized a study cases: we test if return on assets and return on equity has influence on the risk, both on long and short term. For this purposes, we conduct an empirical research that covers 59 selected companies traded at the Bucharest Stock Exchange within the time period 1999-2010. For this study our results reveal that dynamic global risk can be associated to a low intensity with total assets performance of the company’s. Investments efficiency and the

  10. THE RETURN ON EQUITY INDICATORS SYSTEM – METHODOLOGICAL PROPOSAL

    Directory of Open Access Journals (Sweden)

    Zbigniew Gołaś

    2015-06-01

    Full Text Available The aim of the study was to present a suggestion for the methodical decomposition rate of return on equity (ROE. The developed ROE decomposition model includes nine factors: the rate of value added, the rate of depreciation costs, salaries expense ratio, the ratio of other operating income and expenses, the rate of fi nancial income and expenses, the rate of extraordinary events, the rate of tax, the assets rotation and capital gearing. In addition, based on deterministic methods, the study presents the analysis of changes in the level of return on equity on the example of the domestic furniture manufacturing sector in the period 2009–2013.

  11. What stock market returns to expect for the future?

    Science.gov (United States)

    Diamond, P A

    2000-01-01

    In evaluating proposals for reforming Social Security that involve stock investments, the Office of the Chief Actuary (OCACT) has generally used a 7.0 percent real return for stocks. The 1994-96 Advisory Council specified that OCACT should use that return in making its 75-year projections of investment-based reform proposals. The assumed ultimate real return on Treasury bonds of 3.0 percent implies a long-run equity premium of 4.0 percent. There are two equity-premium concepts: the realized equity premium, which is measured by the actual rates of return; and the required equity premium, which investors expect to receive for being willing to hold available stocks and bonds. Over the past two centuries, the realized premium was 3.5 percent on average, but 5.2 percent for 1926 to 1998. Some critics argue that the 7.0 percent projected stock returns are too high. They base their arguments on recent developments in the capital market, the current high value of the stock market, and the expectation of slower economic growth. Increased use of mutual funds and the decline in their costs suggest a lower required premium, as does the rising fraction of the American public investing in stocks. The size of the decrease is limited, however, because the largest cost savings do not apply to the very wealthy and to large institutional investors, who hold a much larger share of the stock market's total value than do new investors. These trends suggest a lower equity premium for projections than the 5.2 percent of the past 75 years. Also, a declining required premium is likely to imply a temporary increase in the realized premium because a rising willingness to hold stocks tends to increase their price. Therefore, it would be a mistake during a transition period to extrapolate what may be a temporarily high realized return. In the standard (Solow) economic growth model, an assumption of slower long-run growth lowers the marginal product of capital if the savings rate is constant

  12. INDIKATOR MAKROEKONOMI DAN RETURN SAHAM SYARIAH DI INDONESIA

    OpenAIRE

    Utami Baroroh

    2016-01-01

    The objectives of this study are to examine empirical test the long term equilibrium and simulteneous relationship between macroeconomics variables to stock return in Indonesia and to observe stock return response because shock/innovation of inflation, SBI discount rate and exchange rate Rupiah to US dollar. The data sample used in this study are monthly time series data from 2003.1 – 2010.6. Those data are SBI discount rate, inflation (CPI), exchange rate Rupiah to US dollar, money supply an...

  13. A study on relationship between the return of value/growth portfolio and market return: Evidence from Tehran Stock Exchange

    Directory of Open Access Journals (Sweden)

    Monireh Mashhadi Ramezanali

    2014-07-01

    Full Text Available This study examines the relationship between the returns of two value and growth portfolios and the return of market on 15 selected firms on Tehran Stock Exchange over the period 2008-2011. The study divides the firms into two groups in terms of the ratios of price on earning as well as price on book value into two groups of value and growth portfolios. Using some regression analysis, the study has determined a positive and meaningful relationship between value portfolio and market return when the market is on the upside but this relationship is not meaningful during the bear session. The results indicate that during the bull sessions, value portfolios provide better investment opportunities than growth ones do.

  14. Returning uncertainties: return journeys and travel circumstances / Las inseguridades del retorno: viajes de vuelta y las vueltas de los viajes

    Directory of Open Access Journals (Sweden)

    Eleder Piñeiro Aguiar

    2015-10-01

    Full Text Available Migrations are inseparable from globalization and therefore they create ways of understanding the ‘us-others’ relationship on the ground of an extension of citizenship. When analyzing the global governability the expectations, facing the capitalist system or the imaginary explaining migrations, are crucial to understand such a phenomenon as the return migration. This work is about bringing forth as controversial a concept that is in a constant construction academically and politically such as the concept of return, in order to relate it with public security and the relationships between minorities and majorities.

  15. Lunar lander and return propulsion system trade study

    Science.gov (United States)

    Hurlbert, Eric A.; Moreland, Robert; Sanders, Gerald B.; Robertson, Edward A.; Amidei, David; Mulholland, John

    1993-01-01

    This trade study was initiated at NASA/JSC in May 1992 to develop and evaluate main propulsion system alternatives to the reference First Lunar Outpost (FLO) lander and return-stage transportation system concept. Thirteen alternative configurations were developed to explore the impacts of various combinations of return stage propellants, using either pressure or pump-fed propulsion systems and various staging options. Besides two-stage vehicle concepts, the merits of single-stage and stage-and-a-half options were also assessed in combination with high-performance liquid oxygen and liquid hydrogen propellants. Configurations using an integrated modular cryogenic engine were developed to assess potential improvements in packaging efficiency, mass performance, and system reliability compared to non-modular cryogenic designs. The selection process to evaluate the various designs was the analytic hierarchy process. The trade study showed that a pressure-fed MMH/N2O4 return stage and RL10-based lander stage is the best option for a 1999 launch. While results of this study are tailored to FLO needs, the design date, criteria, and selection methodology are applicable to the design of other crewed lunar landing and return vehicles.

  16. The effect of Malaysia general election on stock market returns.

    Science.gov (United States)

    Liew, Venus Khim-Sen; Rowland, Racquel

    2016-01-01

    During the latest episode of general election held in Malaysia, it is observed that the FBMKLCI index was lifted 62.52 points in a day soon after the announcement of election outcome. Moreover, the index registered a highest gain of 96.29 points in the middle of the intra-day trade. This suggests that investors who had got the right direction could make profitable intra-day trading the next trading day of the general election date. Results from statistical analysis uncover significant before-election-effect and after-election-effect from the most recent general elections held in Malaysia. Different subsets of macroeconomic variables are found to have significant role on stock market return depending on the market situation. Remarkably, when there was close fight between the two major political parties during the 2008 and 2013 election years, political uncertainty showed up its negative and significant role in influencing the stock market return. The major implication of these findings is that while investors may seek abnormal returns before and after the next general election, which is around the corner, they will have to pay attention on the influence of macroeconomic variables and political uncertainty on stock market return during the election year.

  17. Volatility modeling of asset returns | Babayemi | International Journal ...

    African Journals Online (AJOL)

    ... the study showed that basic Generalized Conditionally Heteroskedastic Model (GARCH (1,1)) model (with Gaussian Error Assumptions) best describes the volatility of the returns. The volatility was found to be quite persistent. The resultant model to some extent also exhibited other stylized facts about financial time series.

  18. Risk-return incentives in liberalised electricity markets

    NARCIS (Netherlands)

    Lynch, Muireann Á; Shortt, Aonghus; Tol, Richard S.J.; O'Malley, Mark J.

    2013-01-01

    We employ Monte Carlo analysis to determine the distribution of returns for various electricity generation technologies. Costs and revenues for each technology are calculated by means of a unit commitment and economic dispatch algorithm at hourly resolution. This represents a considerable

  19. Helping children with serious conditions return to their families.

    Science.gov (United States)

    Evans, Nick

    2016-12-08

    Eleven years ago, Linda Partridge joined the WellChild charity, with a mission to alter the care of children with complex health needs. She has done just that. As director of programmes, Ms Partridge has overseen the creation of a network of WellChild nurses to help children with serious conditions leave hospital and return to their families.

  20. Real exchange rate persistence and the excess return puzzle

    DEFF Research Database (Denmark)

    Juselius, Katarina; Assenmacher, Katrin

    2017-01-01

    The PPP puzzle refers to the wide swings of nominal exchange rates around their long-run equilibrium values whereas the excess return puzzle represents the persistent deviation of the domestic-foreign interest rate differential from the expected change in the nominal exchange rate. Using the I(2)...

  1. The value of winning : endorsement returns in individual sports

    NARCIS (Netherlands)

    Gerritsen, Dirk F.; van Rheenen, Saskia

    Using the results of 1068 different golf, tennis, and track and field (in particular: running) events, this paper examines the relation between athlete performance and stock returns of firms endorsed by athletes. We find that a tournament victory is associated with significant and positive

  2. The value of winning: endorsement returns in individual sports

    NARCIS (Netherlands)

    D.F. Gerritsen (Dirk F.); van Rheenen, S. (Saskia)

    2017-01-01

    textabstractUsing the results of 1068 different golf, tennis, and track and field (in particular: running) events, this paper examines the relation between athlete performance and stock returns of firms endorsed by athletes. We find that a tournament victory is associated with significant and

  3. 25 CFR 286.21 - Return of unused funds.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Return of unused funds. 286.21 Section 286.21 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR ECONOMIC ENTERPRISES INDIAN BUSINESS DEVELOPMENT...., lease obtained, if needed, construction started, equipment purchased or other, within the time stated in...

  4. College Endowments Earned 18.2% Return in Fiscal 1998.

    Science.gov (United States)

    Lively, Kit

    1998-01-01

    The upwardly mobile economy has propelled earnings on college endowments into double digits for the sixth consecutive year, with average returns on investments of 18.2%. The range was 5.6 to 38%, with the highest performer having 85.1% of investments in stocks and 13.6% in domestic bonds. On average, large endowments performed better than small…

  5. Physical exercise and return to work: cancer survivors' experiences

    NARCIS (Netherlands)

    Groeneveld, Iris F.; de Boer, Angela G. E. M.; Frings-Dresen, Monique H. W.

    2013-01-01

    In this qualitative study, we aimed to explore cancer survivors' experiences with (1) return to work (RtW) and work performance, (2) a physical exercise program after treatment, and (3) the perceived link between physical exercise and work. Semi-structured individual interviews were held with ten

  6. Analysis of Costs and Returns of Mechanized Fishing Boat ...

    African Journals Online (AJOL)

    Administrator

    Analysis of Costs and Returns of Mechanized Fishing Boat Operations in India. EJBE Vol. 1, No. 2/2010. Page 129 effective management of this economically backward sector in India. Mechanized fishing boat ... economics of operation of the 17.5 m indigenous mechanized fishing boat along the Kerala Coast and ...

  7. Buzz Factor or Innovation Potential: What Explains Cryptocurrencies' Returns?

    Directory of Open Access Journals (Sweden)

    Sha Wang

    Full Text Available Cryptocurrencies have become increasingly popular since the introduction of bitcoin in 2009. In this paper, we identify factors associated with variations in cryptocurrencies' market values. In the past, researchers argued that the "buzz" surrounding cryptocurrencies in online media explained their price variations. But this observation obfuscates the notion that cryptocurrencies, unlike fiat currencies, are technologies entailing a true innovation potential. By using, for the first time, a unique measure of innovation potential, we find that the latter is in fact the most important factor associated with increases in cryptocurrency returns. By contrast, we find that the buzz surrounding cryptocurrencies is negatively associated with returns after controlling for a variety of factors, such as supply growth and liquidity. Also interesting is our finding that a cryptocurrency's association with fraudulent activity is not negatively associated with weekly returns-a result that further qualifies the media's influence on cryptocurrencies. Finally, we find that an increase in supply is positively associated with weekly returns. Taken together, our findings show that cryptocurrencies do not behave like traditional currencies or commodities-unlike what most prior research has assumed-and depict an industry that is much more mature, and much less speculative, than has been implied by previous accounts.

  8. Which Mechanisms Explain Monetary Returns to International Student Mobility?

    Science.gov (United States)

    Kratz, Fabian; Netz, Nicolai

    2018-01-01

    The authors develop a conceptual framework explaining monetary returns to international student mobility (ISM). Based on data from two German graduate panel surveys, they test this framework using growth curve models and Oaxaca-Blinder decompositions. The results indicate that ISM-experienced graduates enjoy a steeper wage growth after graduation…

  9. Gender Gap in Returns to Schooling in Palestine

    Science.gov (United States)

    Daoud, Yousef

    2005-01-01

    This study provides estimates of the private returns to schooling in Palestine utilizing eight quarterly labor force surveys for 1999 and 2001. This period was chosen to investigate the differential impact of the Israeli closure policy on Palestinian male and female workers. Although gross enrollment ratios for males and females reveal little to…

  10. Educational investment returns for women and men at higher ...

    African Journals Online (AJOL)

    ... shows no evidence of wage discrimination in pay, instead, the data shows that most females specialise in less paying professions compared to males. To close this gender gap in the rate of returns, there is need to increase the enrolment of females in the high rewarding courses. Makerere Journal of Higher Education Vol.

  11. 49 CFR 236.720 - Circuit, common return.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 4 2010-10-01 2010-10-01 false Circuit, common return. 236.720 Section 236.720 Transportation Other Regulations Relating to Transportation (Continued) FEDERAL RAILROAD ADMINISTRATION, DEPARTMENT OF TRANSPORTATION RULES, STANDARDS, AND INSTRUCTIONS GOVERNING THE INSTALLATION, INSPECTION...

  12. Virus isolation for diagnosing dengue virus infections in returning travelers

    NARCIS (Netherlands)

    Teichmann, D.; Göbels, K.; Niedrig, M.; Sim-Brandenburg, J.-W.; Làge-Stehr, J.; Grobusch, M. P.

    2003-01-01

    Dengue fever is recognized as one of the most frequent imported acute febrile illnesses affecting European tourists returning from the tropics. In order to assess the value of virus isolation for the diagnosis of dengue fever, 70 cases of dengue fever confirmed in German travelers during the period

  13. Buying Beauty : On Prices and Returns in the Art Market

    NARCIS (Netherlands)

    Renneboog, L.D.R.; Spaenjers, C.

    2009-01-01

    This paper investigates the evolution of prices and returns in the art market since the middle of the previous century. We first compile a comprehensive list of more than 10,000 artists and then build a dataset that contains information on more than 1.1 million auction sales of paintings, prints,

  14. Rates of return to antipoverty transfers in Uganda

    NARCIS (Netherlands)

    Dietrich, Stephan; Malerba, Daniele; Barrientos, Armando; Gassmann, Franziska

    2017-01-01

    A growing literature measures the impact of antipoverty transfer programmes on variables of interest among participants in low- and middle-income countries. To date, few studies provide information on net benefits or rates of return from these programmes. This paper constructs estimates of rates of

  15. Litterfall and Nutrient Returns in Isolated Stands of Terminalia ...

    African Journals Online (AJOL)

    This study assesses litter production, concentrations and returns of nutrient elements with respect to seasons, so as to provide empirical information on nutrient flux by the isolated exotic stands of Terminalia. Litterfall samples were collected from the isolated stands of Terminalia catappa and adjoining native rainforest which ...

  16. Enterprise size and return to work after stroke.

    Science.gov (United States)

    Hannerz, Harald; Ferm, Linnea; Poulsen, Otto M; Pedersen, Betina Holbæk; Andersen, Lars L

    2012-12-01

    It has been hypothesised that return to work rates among sick-listed workers increases with enterprise size. The aim of the present study was to estimate the effect of enterprise size on the odds of returning to work among previously employed stroke patients in Denmark, 2000-2006. We used a prospective design with a 2 year follow-up period. The study population consisted of 13,178 stroke patients divided into four enterprise sizes categories, according to the place of their employment prior to the stroke: micro (1-9 employees), small (10-49 employees), medium (50-249 employees) and large (>250 employees). The analysis was based on nationwide data on enterprise size from Statistics Denmark merged with data from the Danish occupational hospitalisation register. We found a statistically significant association (p = 0.034); each increase in enterprise size category was followed by an increase in the estimated odds of returning to work. The chances of returning to work after stroke increases as the size of enterprise increases. Preventive efforts and research aimed at finding ways of mitigating the effect are warranted.

  17. Buzz Factor or Innovation Potential: What Explains Cryptocurrencies' Returns?

    Science.gov (United States)

    Wang, Sha; Vergne, Jean-Philippe

    2017-01-01

    Cryptocurrencies have become increasingly popular since the introduction of bitcoin in 2009. In this paper, we identify factors associated with variations in cryptocurrencies' market values. In the past, researchers argued that the "buzz" surrounding cryptocurrencies in online media explained their price variations. But this observation obfuscates the notion that cryptocurrencies, unlike fiat currencies, are technologies entailing a true innovation potential. By using, for the first time, a unique measure of innovation potential, we find that the latter is in fact the most important factor associated with increases in cryptocurrency returns. By contrast, we find that the buzz surrounding cryptocurrencies is negatively associated with returns after controlling for a variety of factors, such as supply growth and liquidity. Also interesting is our finding that a cryptocurrency's association with fraudulent activity is not negatively associated with weekly returns-a result that further qualifies the media's influence on cryptocurrencies. Finally, we find that an increase in supply is positively associated with weekly returns. Taken together, our findings show that cryptocurrencies do not behave like traditional currencies or commodities-unlike what most prior research has assumed-and depict an industry that is much more mature, and much less speculative, than has been implied by previous accounts.

  18. Technology standards and increasing returns: Microsoft versus Nokia and Linux

    NARCIS (Netherlands)

    Millar-Schijf, Carla C.J.M.; Millar, P.H.; Choi, C.J.

    2010-01-01

    The purpose of this article is to advance theory on the concept of increasing returns by reviewing different strands of literature (Arthur, 1994; Liebowitz and Margolis, 1990; 1994; David, 1990) and to develop the concept of a 'critical mass' strategy which incorporates both technological effects

  19. Interventions to enhance return-to-work for cancer patients

    NARCIS (Netherlands)

    de Boer, Angela G. E. M.; Taskila, Tyna K.; Tamminga, Sietske J.; Feuerstein, Michael; Frings-Dresen, Monique H. W.; Verbeek, Jos H.

    2015-01-01

    Cancer patients are 1.4 times more likely to be unemployed than healthy people. Therefore it is important to provide cancer patients with programmes to support the return-to-work (RTW) process. This is an update of a Cochrane review first published in 2011. To evaluate the effectiveness of

  20. Modeling the Conditional Covariance between Stock and Bond Returns

    NARCIS (Netherlands)

    P. de Goeij (Peter); W.A. Marquering (Wessel)

    2002-01-01

    textabstractTo analyze the intertemporal interaction between the stock and bond market returns, we allow the conditional covariance matrix to vary over time according to a multivariate GARCH model similar to Bollerslev, Engle and Wooldridge (1988). We extend the model such that it allows for

  1. 27 CFR 28.132 - Responsibility for return of wine.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Responsibility for return of wine. 28.132 Section 28.132 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY LIQUORS EXPORTATION OF ALCOHOL Withdrawal of Wine Without Payment of Tax for Exportation, Use on Vessels and...

  2. Managing product returns to achieve supply chain sustainability

    DEFF Research Database (Denmark)

    Shaharudin, Mohd Rizaimy; Govindan, Kannan; Zailani, Suhaiza

    2015-01-01

    returns management as part of a comprehensive sustainability effort. The study is exploratory in nature based on five case studies of participating manufacturers in the automotive, and electrical and electronics industry in Malaysia. The interview results reveal that the five participating companies...

  3. Factors affecting return to driving post-stroke.

    LENUS (Irish Health Repository)

    Tan, K M

    2012-02-01

    BACKGROUND: Stroke can affect a person\\'s ability to drive, an important means of transportation in the developed world. AIMS: To determine percentage of patients and factors associated with return to driving post-stroke in a service with emphasis on driver assessment. METHODS: Retrospective study of patients discharged from the Stroke Service of our 470-bed teaching hospital from 1998 to 2002. RESULTS: Of 72 drivers pre-stroke, 54% recalled a driving assessment and 68% returned to driving. Younger patients (58.6 +\\/- 12.0 vs. 66.5 +\\/- 10.5, p = 0.008) with lower Modified Rankin Score (median 1 vs. 2, p = 0.0001) and normal cognition (55 vs. 43%, p = 0.45) were more likely to resume driving. More patients who were assessed returned to driving than those who were not (74 vs. 61%, p = 0.31). CONCLUSIONS: A relatively high level of return to driving can be achieved post-stroke with a pro-active approach to driver assessment and rehabilitation. A structured assessment and referral programme should be offered where appropriate.

  4. Evaluation of the causes and cost impact of returned intravenous ...

    African Journals Online (AJOL)

    significant financial burden on the pharmacy's budget, not only because of the ... The study was approved by the Institutional. Review Board (IRB) of ..... Coma A, Modamio P, Lastra C, Bouvy M, Mariño E. Returned medicines in community pharmacies of. Barcelona, Spain. Pharm World Sci 2008; 30: 272-277. 10. Ibrahim SZ ...

  5. Efficient Return Algorithms For Associated Plasticity With Multiple Yield Planes

    DEFF Research Database (Denmark)

    Clausen, Johan Christian; Damkilde, Lars; Andersen, Lars

    2006-01-01

    A new return method for implicit integration of linear isotropic yield criteria is presented. The basic idea is to perform all the manipulations in the principal stress space and thereby achieve very simple formulae for calculating the plastic corrector stresses, based on the constant gradient...

  6. The Returned Prisoner of War: Factors in Family Reintegration

    Science.gov (United States)

    McCubin, Hamilton I.; And Others

    1975-01-01

    Longitudinal study on 48 families of returned prisoners of war to identify factors to explain degree of reintegration of returnee into his family system. Four sets of data were considered: (1) background characteristics of husband and wife; (2) indices of family preparedness; (3) returnees' prison experiences and their psychiatric status; (4)…

  7. Increasing Returns to Education and the Impact on Social Capital

    Science.gov (United States)

    Leeves, Gareth D.

    2014-01-01

    The returns to education have been increasing. It is suggested that high-skilled workers' social capital investment has been adversely affected by the increasing incentives to devote human capital to career development. Lower social capital is linked to reduced economic growth and innovation and higher transaction costs and is detrimental to…

  8. Market risk and returns: Evidence from the Nigerian capital market ...

    African Journals Online (AJOL)

    Market risk and returns: Evidence from the Nigerian capital market. I O Osamwonyi, E I Asein. Abstract. No Abstract. Global Journal of Social Sciences Vol. 6 (2) 2007: pp. 125-128. Full Text: EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT · DOWNLOAD FULL TEXT DOWNLOAD FULL TEXT.

  9. Monetary Policy Shocks and Stock Returns Reactions: Evidence ...

    African Journals Online (AJOL)

    This paper applies standard vector autoregressions (VAR) technique to quarterly data for Botswana for the period 1993-2010 to investigate the impact of monetary policy shocks on stock returns. Monetary policy is measured by changes in the 91 day Bank of Botswana Certificates rate. Our results indicate that positive ...

  10. Return to Education for Recovering Drug Addicts: The Soilse Project

    Science.gov (United States)

    Barter, Eric

    2010-01-01

    This article is an account of a return to education course set up to cater to the needs of recovering heroin addicts in a Dublin rehabilitation project in the summer of 2008. It begins with a brief outline of the HSE Soilse rehabilitation and recovery programme and the rationale for seeking association with the Department of Adult and Community…

  11. 26 CFR 41.6091-1 - Place for filing returns.

    Science.gov (United States)

    2010-04-01

    ... EXCISE TAXES EXCISE TAX ON USE OF CERTAIN HIGHWAY MOTOR VEHICLES Administrative Provisions of Special Application to Tax On Use of Certain Highway Motor Vehicles § 41.6091-1 Place for filing returns. (a) In... Revenue Service office that serves the principal place of business or legal residence of the person. (2...

  12. Bipolar disorder, childhood bereavement, and the return of the dead ...

    African Journals Online (AJOL)

    Upon its head, with red extended mouth and solitary eye of fire, sat the hideous beast whose craft had seduced me into murder ...' From 'The Black Cat', written c. age 35 (Poe 1975:230). Keywords: Edgar Allan Poe; bipolar disorder, childhood bereavement, and the return of the dead; literary criticism; American poetry; ...

  13. On Returning to Therapy after an Initial Interview.

    Science.gov (United States)

    Schneider, Lawrence J.; Burson, Larry E.

    Considerable research has focused on counselor variables related to clients' willingess to continue in psychotherapy. Investigators have studied the effects of a variety of factors influencing counseling dropouts, including administrative policies, client characteristics, and therapist characteristics. This study examined willingness to return as…

  14. 26 CFR 55.6071-1 - Time for filing returns.

    Science.gov (United States)

    2010-04-01

    ... tax under section 4981 as in effect before amendment by the Tax Reform Act of 1986. A return required by § 55.6011-1 for any excise tax under section 4981, as in effect before amendment by the Tax Reform... the Tax Reform Act of 1986, is imposed. [T.D. 8180, 53 FR 6148, Mar. 1, 1988] ...

  15. Dynamics of Variance Risk Premia, Investors' Sentiment and Return Predictability

    DEFF Research Database (Denmark)

    Rombouts, Jerome V.K.; Stentoft, Lars; Violante, Francesco

    and realized variances, our model allows to infer the occurrence and size of extreme variance events, and construct indicators signalling agents sentiment towards future market conditions. Our results show that excess returns are to a large extent explained by fear or optimism towards future extreme variance...

  16. Return on Knowledge Assets: Rethinking Investments in Educational Technology.

    Science.gov (United States)

    Watkins, Karen E.; Callahan, Mary Wilson

    1998-01-01

    Presents various ways of understanding knowledge and intellectual capital and the assets they produce. Considers implications of assessing the return on educational technologies as organizational knowledge assets. Presents a case study to illustrate how an educational technology application might help capture the benefits of knowledge capital.…

  17. Return migration of high skilled workers : The case of Suriname

    NARCIS (Netherlands)

    Ph.H.B.F. Franses (Philip Hans)

    2015-01-01

    markdownabstract__Abstract__ In this paper we study the determinants of skilled return migration from the Netherlands to Suriname. Based on a survey of Gibson and McKenzie (2011) we managed to interview 283 former top students from Suriname. This unique database is informative in various

  18. Consequences of Turkish return migration from Western Europe

    NARCIS (Netherlands)

    Kunuroglu, F.K.; Yagmur, Kutlay; van de Vijver, Fons; Kroon, Sjaak

    2015-01-01

    We studied the consequences of Turkish return migration in the reconstruction of 'migrant' identities into 'almanci' identities (literally: German-like; a pejorative term denoting Turkish returnees with a German-like identity) using semi-structured, oral interviews among 48 informants. The study

  19. The higher returns to formal education for entrepreneurs versus employees

    NARCIS (Netherlands)

    van Praag, M.; van Witteloostuijn, A.; van der Sluis, J.

    2013-01-01

    How valuable is formal education for entrepreneurs’ income relative to employees’? And if the income returns to formal education are different for entrepreneurs vis-à-vis employees, what might be a plausible explanation? To explore these questions, we analyze a large representative US panel. We show

  20. The Volatility Effect: Lower Risk without Lower Return

    NARCIS (Netherlands)

    D.C. Blitz (David); P. van Vliet (Pim)

    2007-01-01

    textabstractWe present empirical evidence that stocks with low volatility earn high risk-adjusted returns. The annual alpha spread of global low versus high volatility decile portfolios amounts to 12% over the 1986-2006 period. We also observe this volatility effect within the US, European and

  1. Anchoring return: the role of the Solutions Strategy

    Directory of Open Access Journals (Sweden)

    Pierfrancesco Maria Natta

    2014-05-01

    Full Text Available Providing a minimum standard of living and livelihood opportunities to help anchor those who have returned is critical for the future stability and security of Afghanistan. This is one of the three main objectives of the 2012 Solutions Strategy for Afghan Refugees.

  2. Return to Running and Sports Participation After Limb Salvage

    Science.gov (United States)

    2011-07-01

    agility training without an increase in pain. The majority of TABLE 1. Sample Strength Progressions Strength: Knee Dominant Strength: Hip Dominant Box squat...providing energy return through the posterior strut, much like an amputation running prosthesis . Therefore, our patients with limited ankle mobility

  3. Asymmetry of Returns in the Australian STOCK Market

    Science.gov (United States)

    Gunner, Susan M.; Brooks, Louise; Storer, Robin G.

    We use econophysics techniques to investigate the characteristics of the distribution of returns from the All Ordinaries Index and from optimal portfolios constructed from individual stocks on the Australian Stock Exchange. We find in general that the tails of the distributions are asymmetric and that the negative tail favours a power-law behaviour while the positive tail is more Gaussian.

  4. Women Returning To Study Mathematics: An Epistemological Journey?

    Science.gov (United States)

    Brew, Christine R.

    The societal perception that mathematics is absolute and infallible reinforces a transmission pedagogy and is considered to be a major stumbling block for women returning to study mathematics. Children at risk in mathematics are found to rely on rules and procedures and similar findings are evident with adults. A reliance on rules is consistent…

  5. Injuries among female Rwandan soccer players: Return-to-play ...

    African Journals Online (AJOL)

    Soccer or football is regarded as an increasingly popular sport for women. Several studies highlighted the increased injury rate proportionally to its increased participation. Researchers are of the opinion that some injuries might not be regarded as serious by either the player or the coach thus leading to premature return to ...

  6. Impact Of Monetary Policy On Financial Asset Returns: An Analysis ...

    African Journals Online (AJOL)

    This paper presents an analysis of the impact of monetary policy on financial asset returns, with particular reference to stocks. The minimum discount rate and an index based on the direction of change in discount rate were used as monetary policy proxies. The analysis was done using a multi-association model of which ...

  7. 19 CFR 10.103 - American goods returned.

    Science.gov (United States)

    2010-04-01

    ... making claims for free entry under the separate categories, all the articles may be covered by a combined... TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions United States Government Importations § 10.103 American goods returned. (a) Certificate required. Articles entered, or...

  8. Accounting for Institutional Variation in Expected Returns to Higher Education

    Science.gov (United States)

    Dorius, Shawn F.; Tandberg, David A.; Cram, Bridgette

    2017-01-01

    This study leverages human capital theory to identify the correlates of expected returns on investment in higher education at the level of institutions. We leverage estimates of average ROI in post-secondary education among more than 400 baccalaureate degree conferring colleges and universities to understand the correlates of a relatively new…

  9. Investment returns and economic fundamentals in international art markets

    NARCIS (Netherlands)

    Renneboog, L.D.R.; Spaenjers, C.; Velthuis, O.; Baia-Curioni, S.

    Works of art are neither easily tradable across borders, nor evaluated according to globally identical standards. This chapter examines geographical segmentation and its effects on price formation and returns in the international art auction market. The chapter finds (1) a close connection between

  10. Investment Returns and Economic Fundamentals in International Art Markets

    NARCIS (Netherlands)

    Renneboog, L.D.R.; Spaenjers, C.

    2014-01-01

    Abstract: Works of art are neither easily tradable across borders, nor evaluated according to globally identical standards. We examine geographical segmentation and its effects on price formation and returns in the international art auction market. We find (i) a close connection between the country

  11. Predictors for earlier return to work of cancer patients

    NARCIS (Netherlands)

    Wolvers, M. D. J.; Leensen, M. C. J.; Groeneveld, I. F.; Frings-Dresen, M. H. W.; de Boer, A. G. E. M.

    2017-01-01

    This study aims to investigate how perceived work ability, job self-efficacy, value of work, and fatigue predict return to work (RTW) in cancer patients who received chemotherapy. Data of a before-after study on a multidisciplinary intervention that aimed to enhance RTW was used, consisting of four

  12. Stock Market Returns and Exchange Rates in Botswana | Lesotho ...

    African Journals Online (AJOL)

    In this paper, a negative relationship was found to exist between the stock market returns and the US dollar, British Pound and South African Rand. The Euro and the Japanese Yen showed a positive relationship. The findings of the paper also revealed that the speed of adjustment in the VECM is significant and relatively ...

  13. The Effects of Twitter Sentiment on Stock Price Returns.

    Science.gov (United States)

    Ranco, Gabriele; Aleksovski, Darko; Caldarelli, Guido; Grčar, Miha; Mozetič, Igor

    2015-01-01

    Social media are increasingly reflecting and influencing behavior of other complex systems. In this paper we investigate the relations between a well-known micro-blogging platform Twitter and financial markets. In particular, we consider, in a period of 15 months, the Twitter volume and sentiment about the 30 stock companies that form the Dow Jones Industrial Average (DJIA) index. We find a relatively low Pearson correlation and Granger causality between the corresponding time series over the entire time period. However, we find a significant dependence between the Twitter sentiment and abnormal returns during the peaks of Twitter volume. This is valid not only for the expected Twitter volume peaks (e.g., quarterly announcements), but also for peaks corresponding to less obvious events. We formalize the procedure by adapting the well-known "event study" from economics and finance to the analysis of Twitter data. The procedure allows to automatically identify events as Twitter volume peaks, to compute the prevailing sentiment (positive or negative) expressed in tweets at these peaks, and finally to apply the "event study" methodology to relate them to stock returns. We show that sentiment polarity of Twitter peaks implies the direction of cumulative abnormal returns. The amount of cumulative abnormal returns is relatively low (about 1-2%), but the dependence is statistically significant for several days after the events.

  14. "Fufu" flour processing in Ghana: Costs, returns and institutional ...

    African Journals Online (AJOL)

    The introduction of "fufu" flour is an innovative business venture that young entrepreneurs should explore. However, the level of costs and returns as well as institutional support to sustain the industry is not well understood. This study was conducted to determine the profitability of "fufu" flour and the strength of the ...

  15. Costs and returns analysis of improved and alternative cassava ...

    African Journals Online (AJOL)

    The specific objectives of the study was an analysis of the costs and returns of improved and alternative technologies available in the study area by farmers and their level of adoption of the new technologies. Data were collected from a random sample of 250 farmers and 30 extension Staff in the three (3) agricultural zones ...

  16. 26 CFR 1.852-8 - Information returns.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Information returns. 1.852-8 Section 1.852-8 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Regulated Investment Companies and Real Estate Investment Trusts § 1.852-8 Information...

  17. RETURN ON INVESTMENT IN THE IMPERSONAL METAL ACCOUNTS OF PALLADIUM

    Directory of Open Access Journals (Sweden)

    Ivan I. Agafonov

    2014-01-01

    Full Text Available A study of investment attractiveness of investing in the precious metals market with respect to impersonal metal accounts of Palladium in the period of sustained growth of its market value over the last year. A methodology for the assessment of the return on those investments, taking into account the profitability of alternative risk-free investment.

  18. International cooperation for Mars exploration and sample return

    Science.gov (United States)

    Levy, Eugene H.; Boynton, William V.; Cameron, A. G. W.; Carr, Michael H.; Kitchell, Jennifer H.; Mazur, Peter; Pace, Norman R.; Prinn, Ronald G.; Solomon, Sean C.; Wasserburg, Gerald J.

    1990-01-01

    The National Research Council's Space Studies Board has previously recommended that the next major phase of Mars exploration for the United States involve detailed in situ investigations of the surface of Mars and the return to earth for laboratory analysis of selected Martian surface samples. More recently, the European space science community has expressed general interest in the concept of cooperative Mars exploration and sample return. The USSR has now announced plans for a program of Mars exploration incorporating international cooperation. If the opportunity becomes available to participate in Mars exploration, interest is likely to emerge on the part of a number of other countries, such as Japan and Canada. The Space Studies Board's Committee on Cooperative Mars Exploration and Sample Return was asked by the National Aeronautics and Space Administration (NASA) to examine and report on the question of how Mars sample return missions might best be structured for effective implementation by NASA along with international partners. The committee examined alternatives ranging from scientific missions in which the United States would take a substantial lead, with international participation playing only an ancillary role, to missions in which international cooperation would be a basic part of the approach, with the international partners taking on comparably large mission responsibilities. On the basis of scientific strategies developed earlier by the Space Studies Board, the committee considered the scientific and technical basis of such collaboration and the most mutually beneficial arrangements for constructing successful cooperative missions, particularly with the USSR.

  19. Maximising net returns to fertiliser use by financially constrained ...

    African Journals Online (AJOL)

    ACSS

    Financial constraints usually limit fertiliser use by smallholder farmers and it is important that they maximise net returns on their investment. Fifteen crop-nutrient response functions, including six crops, were derived from results of 84 trials conducted in Uganda. The benefit:cost ratio (BC) for typical fertiliser use costs and ...

  20. the mauritius stock exchange: sectoral analysis, risk and return

    African Journals Online (AJOL)

    cistvr

    Investors rely on financial markets to provide information on the value of financial instruments. This information role is critical as it provides the basis for investment decisions. When an investor buys a share of a public limited company, he/she would want a reasonable return on the investment for the level of risk assumed. In.

  1. Dermatobia hominis myiasis among travelers returning from South America.

    Science.gov (United States)

    Tamir, Jeremy; Haik, Josef; Orenstein, Arie; Schwartz, Eli

    2003-04-01

    Dermatobia hominis is the most common cause of myiasis in Central and South America, affecting mammals and humans, causing nonhealing furuncle-like lesions. During the years 1994 to 1999, 14 Israeli travelers returning from South America were diagnosed with D hominis myiasis. The approach consists of correct diagnosis and a proper removal of the larvae, after which the patients heal with no complications.

  2. Furuncular myiasis caused by Dermatobia hominis in a returning traveler.

    Science.gov (United States)

    Bhandari, Ramanath; Janos, David P; Sinnis, Photini

    2007-03-01

    Furuncular myiasis caused by Dermatobia hominis is endemic throughout Central and South America. We report a case of furuncular myiasis in a traveler returned from Costa Rica. The case is unique because the primary care physician obtained magnetic resonance images. The images, however, do not show any characteristic features that assist in diagnosis.

  3. Risk-return performance of residential property investment in Abuja ...

    African Journals Online (AJOL)

    The paper examined the performance of residential property market in Abuja with a view to determining the most performed market and the level of associated risk. The study utilized both descriptive (average rate of returns and coefficient of variation) and inferential methods (ANOVA and HSD). The results of descriptive ...

  4. Modelling conditional heteroskedasticity in JSE stock returns using ...

    African Journals Online (AJOL)

    In stage one we fi t an Autoregressive Moving Average–Generalised Autoregressive Conditional Heteroskedastic (ARMA-GARCH) model to the stock return series. In stage two we filter the residuals from the ARMA-GARCH model. We then fi t a Generalised Pareto Distribution (GPD) to the upper tail of the residual series, ...

  5. Company Fundamentals and Returns in the Nigerian Stock Market ...

    African Journals Online (AJOL)

    Journal of Research in National Development ... The paper examines the impact of company fundamentals on equity returns in the Nigerian stock market, using the panel regression technique which also incorporates two effects (the ... The result also reports the fixed effects of each firm on the constant term in the model.

  6. The Effects of Return Migration on A Gozitan Village.

    Science.gov (United States)

    King, Russell; Strachan, Alan

    1980-01-01

    A lengthy two-cycle migration pattern is typical of young males on the Maltese island of Gozo. Their typical final return to and reintegration into the natal community impacts the local population, housing development, and the visual appearance of the area. These findings closely parallel prior research results. (SB)

  7. Hard assets : The return of rare diamonds and gems

    NARCIS (Netherlands)

    Renneboog, Luc; Spaenjers, Christophe; Grynberg, Roman; Mbayi, Letsema

    This note examines the investment performance of diamonds and other gems (sapphires, rubies, and emeralds) over the period 1999–2010, using a novel data set of auction transactions. Over our time frame, the annualized real USD returns for white and colored diamonds equaled 6.4% and 2.9%,

  8. Numerical experiment with modelled return echo of a satellite

    Indian Academy of Sciences (India)

    Abstract. We have simulated the return echo of a satellite altimeter from a rough ocean surface using an analytical formula and have studied its sensitivity with respect to various oceanic and altimeter parameters. Our numerical expcriment shows that for normally observed significant wave heights (SWFI) the effect of ...

  9. Reentry Issues upon Returning from Study Abroad Programs

    Science.gov (United States)

    Wielkiewicz, Richard M.; Turkowski, Laura W.

    2010-01-01

    The impact of returning from studying abroad was surveyed in 669 college students. Students who studied abroad scored significantly higher on a Reentry Shock scale, reflecting skepticism toward U.S. culture, than those who did not. They were also more likely to consume alcohol. Study abroad had no detectable influence on students' romantic…

  10. Comparing the returns to education for entrepreneurs and employees

    NARCIS (Netherlands)

    van der Sluis, J.; van Praag, C.M.; van Witteloostuijn, A.

    2004-01-01

    The returns to education (RTE) for entrepreneurs, unlike for employees, have not yet been estimated by methods coping with the potential endogeneity problem. We estimate the RTE for entrepreneurs and employees while testing for and coping with this problem. Our results derived from a large US sample

  11. The role of remote voting in encouraging return

    Directory of Open Access Journals (Sweden)

    Djordje Stefanovic

    2015-09-01

    Full Text Available Once there is a genuine possibility of going home, what influences a forced migrant’s decision to return to a pre-conflict residence, often in the face of very difficult conditions? What role can remote voting play?

  12. Contemporary Impact Analysis Methodology for Planetary Sample Return Missions

    Science.gov (United States)

    Perino, Scott V.; Bayandor, Javid; Samareh, Jamshid A.; Armand, Sasan C.

    2015-01-01

    Development of an Earth entry vehicle and the methodology created to evaluate the vehicle's impact landing response when returning to Earth is reported. NASA's future Mars Sample Return Mission requires a robust vehicle to return Martian samples back to Earth for analysis. The Earth entry vehicle is a proposed solution to this Mars mission requirement. During Earth reentry, the vehicle slows within the atmosphere and then impacts the ground at its terminal velocity. To protect the Martian samples, a spherical energy absorber called an impact sphere is under development. The impact sphere is composed of hybrid composite and crushable foam elements that endure large plastic deformations during impact and cause a highly nonlinear vehicle response. The developed analysis methodology captures a range of complex structural interactions and much of the failure physics that occurs during impact. Numerical models were created and benchmarked against experimental tests conducted at NASA Langley Research Center. The postimpact structural damage assessment showed close correlation between simulation predictions and experimental results. Acceleration, velocity, displacement, damage modes, and failure mechanisms were all effectively captured. These investigations demonstrate that the Earth entry vehicle has great potential in facilitating future sample return missions.

  13. Oil palm growth, yield and financial returns from interplanted food ...

    African Journals Online (AJOL)

    Maize, soyabean and pigeon pea were inter-planted with a juvenile oil palm plantation in 1999-2002 at the Teaching and Research Farm of the University of Agriculture, Abeokuta (7°15'N, 3°25', altitude 144m above sea level) to evaluate the growth of the interplanted oil palm as well as yield and overall economic returns ...

  14. What factors determine international real estate security returns?

    NARCIS (Netherlands)

    Hamelink, F.; Hoesli, M.

    2004-01-01

    We use constrained cross-sectional regressions to disentangle the effects of various factors on international real estate security returns. Besides a common factor, pure country, property type, size and value/growth factors are considered. The value/growth measure that is used in this paper provides

  15. Early Election Returns and the Voting Behavior of Adolescent Voters

    Science.gov (United States)

    Mann, Leon; And Others

    1971-01-01

    High school students participated in a field experiment that tested the effects of exposure to early election returns in a nonpartisan referendum. Students in the brighter classes changed their vote less frequently, but when they changed their preferences they showed a greater bandwagon effect. Students in the classes of lower academic achievement…

  16. Nurses Returning to School: Motivators, Inhibitors and Job Satisfaction.

    Science.gov (United States)

    Harris, Patrick W; Burman, Mary E

    2016-01-01

    Health care employers and national nursing organizations are placing increased emphasis on nurses earning a baccalaureate degree or higher. This study examines the impact of motivators (professional and personal motivation), inhibitors (time constraints and employer discouragement), and job satisfaction on intent to return to school. Approximately half of the employed nurses in Wyoming were surveyed using a mailed questionnaire in the summer of 2013. Perceived employer discouragement and time constraints continued to play a direct role on intent to return to school regardless of nurse motivation or job satisfaction. However, motivation and job satisfaction also contributed to a nurse's intent to return to school. These results suggest that motivation and job satisfaction are significant regarding intent to return to school but can be limited by both perceived discouragement of one's employer and perceived time constraints. In order to meet the increasing demands of a better-educated nursing workforce, a shift in workplace dynamics may be warranted. Copyright © 2016 Elsevier Inc. All rights reserved.

  17. Estimation of Lightning Return Stroke Speed Using Elve Observations

    Science.gov (United States)

    Blaes, P.; Marshall, R. A.; Inan, U.

    2014-12-01

    Elves are optical emissions in the D-region ionosphere that are a result of collisional heating from the intense lightning electromagnetic pulse (EMP). The shape of elves is determined by the EMP radiation pattern at D-region altitudes, which is in turn controlled by the geometry and current propagation properties of the return stroke channel. In particular, numerical simulation of the EMP-ionosphere interaction shows a strong relationship between the elve "hole" radius and the current return stroke speed. During the summer of 2013, hundreds of elves were observed from Langmuir Laboratory, in New Mexico, with the PIPER high-speed photometer. Of these, 55 had an appropriate viewing geometry in which the elve hole is observable and is not corrupted by cloud flashes or sprites. An "emission profile", characterizing the elve emissions versus radius and time, is fit to each of these events using a constrained least squares reconstruction, allowing easy extraction of the elve hole radius. Using these measured radii in conjunction with the numerical EMP model, we perform Bayesian inference to estimate the distribution of return stroke speeds. The MTLL engineering model is assumed for the current propagation with reasonable priors for the parameters. The results show a maximum a posteriori probability return stroke speed estimate of 0.64c for elve producing lightning.

  18. Partial anomalous pulmonary venous return in Turner syndrome

    NARCIS (Netherlands)

    Hoven, A.T. van den; Chelu, R.G.; Duijnhouwer, A.L.; Demulier, L.; Devos, D.; Nieman, K.; Witsenburg, M.; Bosch, A.E. van den; Loeys, B.L.; Hagen, I.M. van; Roos-Hesselink, J.W.

    2017-01-01

    PURPOSE: The aim of this study is to describe the prevalence, anatomy, associations and clinical impact of partial anomalous pulmonary venous return in patients with Turner syndrome. METHODS AND RESULTS: All Turner patients who presented at our Turner clinic, between January 2007 and October 2015

  19. Partial abnormal pulmonary venous return in Turner syndrome

    NARCIS (Netherlands)

    van Wassenaer, A. G.; Lubbers, L. J.; Losekoot, G.

    1988-01-01

    Three cases of partial anomalous pulmonary venous return, in one case combined with coarctation of the aorta and in another with discrete subaortic stenosis, are described in patients with Turner syndrome. In two of them the right and left superior pulmonary veins drained into the right superior

  20. The Log-Linear Return Approximation, Bubbles, and Predictability

    DEFF Research Database (Denmark)

    Engsted, Tom; Pedersen, Thomas Quistgaard; Tanggaard, Carsten

    2012-01-01

    We study in detail the log-linear return approximation introduced by Campbell and Shiller (1988a). First, we derive an upper bound for the mean approximation error, given stationarity of the log dividend-price ratio. Next, we simulate various rational bubbles which have explosive conditional expe...

  1. Cost and Return Analysis of Ginger Production in the Guinea ...

    African Journals Online (AJOL)

    The study focuses on the cost and return analysis of ginger production in the guinea savannah agro ecology of Nigeria. The study is aimed at highlighting the profitability of ginger production with a view to informing and influencing farmers and relevant stakeholders. The study was conducted at Kajuru, Kaduna state in the ...

  2. 76 FR 36996 - Extension of Time for Filing Returns

    Science.gov (United States)

    2011-06-24

    ... partnership's last known address. For further guidance regarding the definition of last known address, see Sec... extensions of time to file returns for partnership, trust, and estate taxpayers, and automatic extensions of... entities (most partnerships, estates, and certain trusts). As these pass-through entities were previously...

  3. Return to Resistance: Breeding Crops to Reduce Pesticide ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Traditional plant breeding techniques have led us to depend more and more on chemical pesticides to protect ourcrops. Return to Resistance shows gardeners, farmers, and plant breeders how to use a long-neglected technique to create hardy new plant varieties that are naturally resistant to pests and disease. Horizontal ...

  4. Hard Assets : The Returns on Rare Diamonds and Gems

    NARCIS (Netherlands)

    Renneboog, L.D.R.; Spaenjers, C.

    2011-01-01

    This paper examines the investment performance of diamonds and other gems (sapphires, rubies, and emeralds) over the period 1999-2010, using a novel data set of auction transactions. Between 1999 and 2010, the annualized real USD returns for white and colored diamonds equaled 6.4% and 2.9%,

  5. Return to Robben Island of African Penguins that were rehabilitated ...

    African Journals Online (AJOL)

    Return to Robben Island of African Penguins that were rehabilitated, relocated or reared in captivity following the Treasure oil spill of 2000. ... All three conservation interventions are considered to have been successful, but it is premature to assess their relative contributions to the conservation of the species.

  6. Work Sustainability Among Male Cancer Survivors After Returning to Work.

    Science.gov (United States)

    Endo, Motoki; Haruyama, Yasuo; Muto, Go; Kiyohara, Kosuke; Mizoue, Tetsuya; Kojimahara, Noriko; Yamaguchi, Naohito

    2018-02-05

    Few studies have investigated the work continuance rate among cancer survivors after return to work (RTW). The objective of this study was to clarify work sustainability after RTW among Japanese male cancer survivors. We collected data on male cancer survivors from an occupational health register. Inclusion criteria were as follows: employees who returned to work after an episode of sick leave due to clinically certified cancer diagnosed between January 1, 2000 and December 31, 2011. Of 1,033 male employees who were diagnosed with cancer, 786 employees (76.1%) returned to work after their first episode of sick leave due to cancer. Work continuance rates among all subjects were 80.1% 1 year after RTW and 48.5% 5 years after RTW. The mean duration of work after RTW was 4.5 years. The work continuance rates varied significantly by cancer type. The "Lung" and "Hepatic, Pancreatic" cancer groups had the shortest duration of work (0.9 year after RTW). Of workers who returned to work after their first episode of leave after cancer, 50% continued to work after 5 years in large-scale companies. There was a steep decrease in work continuance rates during the first year after RTW, with considerable differences according to cancer site.

  7. 15 CFR 325.12 - Returning the applicant's documents.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 2 2010-01-01 2010-01-01 false Returning the applicant's documents. 325.12 Section 325.12 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade (Continued) INTERNATIONAL TRADE ADMINISTRATION, DEPARTMENT OF COMMERCE MISCELLANEOUS REGULATIONS EXPORT TRADE...

  8. R&D returns, market structure and research joint ventures

    DEFF Research Database (Denmark)

    Amir, Rabah

    2000-01-01

    (one firm endogenously exiting). Two research joint venture schemes and the noncooperative solution are compared. Due to built-in symmetry, a joint lab does not always lead to the best performance. Overall, our findings differ quite substantially from those based on strongly decreasing R&D returns...

  9. 27 CFR 25.212 - Beer returned to brewery from which removed.

    Science.gov (United States)

    2010-04-01

    ... 27 Alcohol, Tobacco Products and Firearms 1 2010-04-01 2010-04-01 false Beer returned to brewery... TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY LIQUORS BEER Beer Returned to Brewery § 25.212 Beer returned to brewery from which removed. If beer on which the tax has been determined or paid is returned to...

  10. 20 CFR 216.24 - Relinquishment of rights to return to work.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 1 2010-04-01 2010-04-01 false Relinquishment of rights to return to work... of rights to return to work. (a) What return to work rights must be given up. Before an individual... work for any railroad employer. (b) When right to return to work is ended. An individual's right to...

  11. Self-Selection, Earnings and Chicano Migration: Differences between Return and Onward Migrants.

    Science.gov (United States)

    Shumway, J. Matthew; Hall, Greg

    1996-01-01

    Examines Chicano return migration and earnings differentials between return and onward Chicano migrants by reviewing 1990 Public Use Microdata Sample of the U.S. census. Results indicate that Chicano return migrants have smaller earnings largely due to living in areas with higher concentrations of co-ethnics. Apparently, return migrants are…

  12. Development of a megathrust earthquake return period model

    Science.gov (United States)

    Schaefer, Andreas; Wenzel, Friedemann; Daniell, James

    2017-04-01

    The assessment of megathrust return periods can be considered the most difficult part of seismic hazard assessments, since often both their maximum magnitude as well as their respective return period is ambiguous and has much uncertainty associated with them. Megathrust earthquake events such as the 2004 offshore Sumatra, 2011 in Japan or even 1960 in Chile show that the actual capability of a subduction zone to produce mega earthquakes is often underestimated or simply unknown. In conjunction with the development of a subduction zone parameter database, an assessment method to determine megathrust return periods has been undertaken. This assessment follows the principle of robustness, reducing the amount of external parameters and a priori knowledge for the quantification of megathrust return periods. A new method is proposed, which utilises Gutenberg-Richter estimates in conjunction with tectonic convergence rates and seismic coupling in order to calculate both the return period of strong seismic events and their respective possible maximum magnitudes. It introduces a stochastic procedure comparing the Gutenberg-Richter derived probability of a certain magnitude with the accumulated slip-dependent trigger mechanism. This leads to a truncation of strong magnitudes similar to a general truncated Gutenberg-Richter relationship and a comparison is thus made. The advantage of this new method is that is does not necessarily need a priori information about characteristic or maximum magnitudes, instead deriving it completely from slip accumulation and magnitude frequency of low and moderate-seismic events. This method has been applied to the majority of global subduction zones and compared to the historic and paleo-seismic observations within each of these zones.

  13. 26 CFR 26.6107-1 - Tax return preparer must furnish copy of return to taxpayer and must retain a copy or record.

    Science.gov (United States)

    2010-04-01

    ... REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE AND GIFT TAXES GENERATION-SKIPPING TRANSFER TAX REGULATIONS UNDER THE TAX REFORM ACT OF 1986 § 26.6107-1 Tax return preparer must furnish copy of... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Tax return preparer must furnish copy of return...

  14. Return to play in elite rugby union: application of global positioning system technology in return-to-running programs.

    Science.gov (United States)

    Reid, Laura C; Cowman, Jason R; Green, Brian S; Coughlan, Garrett F

    2013-05-01

    Global positioning systems (GPS) are widely used in sport settings to evaluate the physical demands on players in training and competition. The use of these systems in the design and implementation of rehabilitation and return-to-running programs has not yet been elucidated. To demonstrate the application of GPS technology in the management of return to play in elite-club Rugby Union. Case series. Professional Rugby Union club team. 8 elite Rugby Union players (age 27.86 ± 4.78 y, height 1.85 ± 0.08 m, weight 99.14 ± 9.96 kg). Players wore GPS devices for the entire duration of a club game. Variables of locomotion speed and distance were measured. Differences in physical demands between playing positions were observed for all variables. An analysis of the position-specific physical demands measured by GPS provides key information regarding the level and volume of loads sustained by a player in a game environment. Using this information, sports-medicine practitioners can develop rehabilitation and return-to-running protocols specific to the player position to optimize safe return to play.

  15. Exploring consumer online product returning behavior : Chinese e-consumers’ perspective

    OpenAIRE

    Zhu, Yijun

    2018-01-01

    In the retail world, product returns are a common practice by consumers. Many businesses have been attempting to obtain more sales by providing customers with lenient return policies as well as customer-friendly return processes and procedures. Over the past decade, the issue of product returns by consumers is on the rise and drawing increased attention from practitioners and researchers. The objective of this thesis is to explore Chinese e-consumers’ perception of fraudulent returning beh...

  16. Conditional Relationship Between Beta and Return in the US Stock Market

    OpenAIRE

    Bing XIAO

    2016-01-01

    According to the CAPM, risk is measured by the beta, and the relation between required expected return and beta is linear. This paper examines the conditional relationship between beta and return in the US stock market. The conditional covariances and variances used to estimate beta are modeled as an ARCH process. The beta return relationship is tested upon the sign of the excess market return. The implication of the sign of the excess market return follows Morelli (2011). This study shows th...

  17. Dynamic Trading with Predictable Returns and Transaction Costs

    DEFF Research Database (Denmark)

    Garleanu, Nicolae; Heje Pedersen, Lasse

    We derive a closed-form optimal dynamic portfolio policy when trading is costly and security returns are predictable by signals with dierent mean-reversion speeds.The optimal strategy is characterized by two principles: 1) aim in front of the target and 2) trade partially towards the current aim....... Specically, the optimal updated portfolio is a linear combination of the existing portfolio and an \\aim portfolio," which is a weighted average of the current Markowitz portfolio (the moving target) and the expected Markowitz portfolios on all future dates (where the target is moving). Intuitively......, predictors with slower mean reversion (alpha decay) get more weight in the aim portfolio. We implement the optimal strategy for commodity futures and and superior net returns relative to more naive benchmarks....

  18. Dynamic Trading with Predictable Returns and Transaction Costs

    DEFF Research Database (Denmark)

    Gârleanu, Nicolae; Heje Pedersen, Lasse

    2013-01-01

    We derive a closed-form optimal dynamic portfolio policy when trading is costly and security returns are predictable by signals with different mean-reversion speeds. The optimal strategy is characterized by two principles: (1) aim in front of the target, and (2) trade partially toward the current...... aim. Specifically, the optimal updated portfolio is a linear combination of the existing portfolio and an “aim portfolio,” which is a weighted average of the current Markowitz portfolio (the moving target) and the expected Markowitz portfolios on all future dates (where the target is moving......). Intuitively, predictors with slower mean-reversion (alpha decay) get more weight in the aim portfolio. We implement the optimal strategy for commodity futures and find superior net returns relative to more naive benchmarks....

  19. Dynamical stochastic processes of returns in financial markets

    Science.gov (United States)

    Lim, Gyuchang; Kim, SooYong; Yoon, Seong-Min; Jung, Jae-Won; Kim, Kyungsik

    2007-03-01

    We study the evolution of probability distribution functions of returns, from the tick data of the Korean treasury bond (KTB) futures and the S&P 500 stock index, which can be described by means of the Fokker-Planck equation. We show that the Fokker-Planck equation and the Langevin equation from the estimated Kramers-Moyal coefficients can be estimated directly from the empirical data. By analyzing the statistics of the returns, we present quantitatively the deterministic and random influences on financial time series for both markets, for which we can give a simple physical interpretation. We particularly focus on the diffusion coefficient, which may be important for the creation of a portfolio.

  20. Forecasting of IBOVESPA returns using feedforward evolutionary artificial neural networks

    Directory of Open Access Journals (Sweden)

    Edgar Leite dos Santos Filho

    2011-12-01

    Full Text Available Facing the challenges of anticipating financial market uncertainties and movements, and the necessity of taking buy or sell decisions supported by rational methods, market traders found in statistics and econometrics methods, the base to support their decisions. In several scientific papers about forecasting financial time series, method selection keeps as central concern. This paper compares the performance of evolutionary feedforward artificial neural network (EANN and an AR+GARCH model, for one step ahead forecasting of IBOVESPA returns. The EANN is trained by self-adapting differential evolution algorithm and AR+GARCH model is adjusted to be used as performance reference. The root mean square error (RMSE and U-Theil inequality coefficient were used as performance metrics. Simulation results showed  EANN feedforward achieved better results, fit better and captured the nonlinear behavior of returns.

  1. Personal Information Management for Nurses Returning to School.

    Science.gov (United States)

    Bowman, Katherine

    2015-12-01

    Registered nurses with a diploma or an associate's degree are encouraged to return to school to earn a Bachelor of Science in Nursing degree. Until they return to school, many RNs have little need to regularly write, store, and retrieve work-related papers, but they are expected to complete the majority of assignments using a computer when in the student role. Personal information management (PIM) is a system of organizing and managing electronic information that will reduce computer clutter, while enhancing time use, task management, and productivity. This article introduces three PIM strategies for managing school work. Nesting is the creation of a system of folders to form a hierarchy for storing and retrieving electronic documents. Each folder, subfolder, and document must be given a meaningful unique name. Numbering is used to create different versions of the same paper, while preserving the original document. Copyright 2015, SLACK Incorporated.

  2. Return on research investments: personal good versus public good

    Science.gov (United States)

    Fox, P. A.

    2017-12-01

    For some time the outputs, i.e. what's produced, of publicly and privately funded research while necessary, are far from sufficient, when considering an overall return on (research) investment. At the present time products such as peer-reviewed papers, websites, data, and software are recognized by funders on timescales related to research awards and reporting. However, from a consumer perspective impact and value are determined at the time a product is discovered, accessed, assessed and used. As is often the case, the perspectives of producer and consumer communities can be distinct and not intersect at all. We contrast personal good, i.e. credit, reputation, with that of public good, e.g. interest, leverage, exploitation, and more. This presentation will elaborate on both the metaphorical and idealogical aspects of applying a "return on investment" frame for the topic of assessing "good".

  3. Thromboembolic disorders: guidance for return-to-play.

    Science.gov (United States)

    Depenbrock, Patrick J

    2011-01-01

    Venous thromboembolism (VTE) is a major cause of morbidity and mortality. Treatment for VTE in athletes is similar to nonathletes. Early treatment of deep venous thrombosis (DVT) with bed rest and anticoagulation has given way to anticoagulation with early mobilization. Thrombolysis, preferably catheter-directed thrombolysis (CDT), may be used in select patients with upper extremity DVT (UEDVT). Surgical procedures should be reserved for those athletes with UEDVT who fail initial therapy. Compression devices are advocated for the treatment of postthrombotic symptoms (PTS) in lower extremity DVT (LEDVT) and UEDVT. Athletes with DVT should be encouraged to start a gradual return to activities of daily living (ADL) the day they begin anticoagulation therapy. A structured return-to-training program with progressive increase in intensity can begin shortly after ADL mastery, provided the athlete is monitored carefully for recurrence of VTE. Athletes should not engage in contact or collision sports until anticoagulation therapy is complete.

  4. Exile, Return and Restitution in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Katharine A Vadura

    2005-03-01

    Full Text Available The exile and return experiences in the Czech lands since 1918 have been various and have had significant implications for the people who live and once lived in that territory. The focus of this paper is on the Sudeten Germans a former minority of the Czech lands. The exile experience of this group has resulted in significant debate as to whether this form of exile as legislated banishment was expulsion or displacement, and whether they should have the right to return. In addition the question of guilt as a mechanism for invoking the forced transfer of a population has also raised the issue of recompense or restitution. Conceptual issues like nationalism, identity, belonging and the right to a homeland have played an important part in the attempts at the development of a stable state and also more recently reconciliation processes between the Czechs and Sudeten Germans.

  5. The Relevance of Organization Capital for Market Capital Returns

    DEFF Research Database (Denmark)

    Bleoca, Lavinia

    2014-01-01

    This paper extends the existing findings on the theory of “organization capital” proposed by Lev at al. (2009) through a reproduction analysis on newer data, with a different estimation method. A new empirical perspective is proposed, where the intrinsic relationship of the different profitability...... measures is analyzed in order to offer a survey over the average firm’s capacity of generating excess returns in relation to the closest neighbor, based on its uniqueness. Nevertheless, the analysis seeks to define how profitable unique skills and knowledge are in comparison to the companion portfolio......’s, which characteristics are pervasive and how the time-lags of return on investments in knowledge vary between the individual and aggregate levels....

  6. Return to the workforce following coronary artery bypass grafting

    DEFF Research Database (Denmark)

    Butt, Jawad H.; Rørth, Rasmus; Kragholm, Kristian

    2018-01-01

    .0%) patients had returned to the workforce, 614 (10.2%) were on paid sick leave, 267 (4.4%) received disability pension, 250 (4.1%) were on early retirement, 57 (0.9%) had died, and 16 (0.3%) had emigrated. Factors associated with return to the workforce were identified using multivariable logistic regression...... to the workforce. Urgency of surgery (emergency versus elective; 0.65, 0.49–0.88), cardiovascular comorbidity, a history of chronic kidney disease (0.49, 0.29–0.84) and liver disease (0.47, 0.28–0.80), as well as additional hospital admissions within the first year post-discharge (> 2 versus none; 0.25, 0...

  7. An Integrated Tool for System Analysis of Sample Return Vehicles

    Science.gov (United States)

    Samareh, Jamshid A.; Maddock, Robert W.; Winski, Richard G.

    2012-01-01

    The next important step in space exploration is the return of sample materials from extraterrestrial locations to Earth for analysis. Most mission concepts that return sample material to Earth share one common element: an Earth entry vehicle. The analysis and design of entry vehicles is multidisciplinary in nature, requiring the application of mass sizing, flight mechanics, aerodynamics, aerothermodynamics, thermal analysis, structural analysis, and impact analysis tools. Integration of a multidisciplinary problem is a challenging task; the execution process and data transfer among disciplines should be automated and consistent. This paper describes an integrated analysis tool for the design and sizing of an Earth entry vehicle. The current tool includes the following disciplines: mass sizing, flight mechanics, aerodynamics, aerothermodynamics, and impact analysis tools. Python and Java languages are used for integration. Results are presented and compared with the results from previous studies.

  8. Modeling stock return distributions with a quantum harmonic oscillator

    Science.gov (United States)

    Ahn, K.; Choi, M. Y.; Dai, B.; Sohn, S.; Yang, B.

    2017-11-01

    We propose a quantum harmonic oscillator as a model for the market force which draws a stock return from short-run fluctuations to the long-run equilibrium. The stochastic equation governing our model is transformed into a Schrödinger equation, the solution of which features “quantized” eigenfunctions. Consequently, stock returns follow a mixed χ distribution, which describes Gaussian and non-Gaussian features. Analyzing the Financial Times Stock Exchange (FTSE) All Share Index, we demonstrate that our model outperforms traditional stochastic process models, e.g., the geometric Brownian motion and the Heston model, with smaller fitting errors and better goodness-of-fit statistics. In addition, making use of analogy, we provide an economic rationale of the physics concepts such as the eigenstate, eigenenergy, and angular frequency, which sheds light on the relationship between finance and econophysics literature.

  9. Returning an Employee With Newly Diagnosed Tetraplegia to Work.

    Science.gov (United States)

    Smith, Letha

    2016-03-01

    A 41-year-old male manufacturing engineer had a spinal cord injury after being thrown from the horse he was riding and landing on his neck. His injury was a C5 fracture with complete lower limb and trunk paralysis and partial upper limb paralysis. He was transported to the emergency department and eventually to rehabilitation. This article describes this employee's return to work. © 2015 The Author(s).

  10. The Prostitute's Allure: Examining Returns to Beauty, Productivity and Discrimination

    OpenAIRE

    Arunachalam, Raj; Shah, Manisha

    2010-01-01

    We estimate the earnings premium for beauty in an occupation where returns to physical attractiveness are likely to be important: commercial sex work. In the commercial sex market, perhaps more so than any other sector in the labor market, the beauty premium should be at the extreme due to the intimate interpersonal relationships required with clients. Therefore, the commercial sex sector provides the cleanest test for whether the beauty premium is driven solely by productivity. Somewhat surp...

  11. The determinants of stock and bond return comovements

    OpenAIRE

    Baele, Lieven; Bekaert, Geert; Inghelbrecht, Koen

    2007-01-01

    We study the economic sources of stock-bond return comovements and its time variation using a dynamic factor model. We identify the economic factors employing a semi-structural regime-switching model for state variables such as interest rates, inflation, the output gap, and cash flow growth. We also view risk aversion, uncertainty about inflation and output, and liquidity proxies as additional potential factors. We find that macro-economic fundamentals contribute little to explaining stock an...

  12. Studying abroad: encouraging students to return to Kyrgyzstan

    OpenAIRE

    Thieme, Susan; Elebaeva, Ainur; Bruce, Zarina; Samanchina, Jarkyn

    2013-01-01

    More and more students from Kyrgyzstan are now studying at foreign universities, where they gain knowledge and skills that are vital for Kyrgyzstan’s development and prosperity. But many face difficulties in finding opportunities to apply their new skills upon their return. This issue of evidence for policy examines the causes and consequences of this situation, and examines challenges of making student migration advantageous for Kyrgyzstan.

  13. Politics and society: for a return to political sociology

    OpenAIRE

    Perissinotto, Renato Monseff; Universidade Federal do Paraná

    2004-01-01

    The purpose of this essay is to make some considerations on the limits and advantages of institutionalism’s rational choice in regard to the understanding of political phenomena. The text critically examines some of the representative studies that Brazilian political science has attached to this theoretical approach. This criticism develops around three themes: state, political elites and democracy. It suggests that a prudent return to the approach of political sociology wou...

  14. Is the return to education the same for everybody?

    OpenAIRE

    Douglas Webber

    2014-01-01

    A postsecondary degree is often held up as the one sure path to financial success. But is that true regardless of institutional quality, discipline studied, or individual characteristics? Is a college degree always worth the cost? Students deciding whether to invest in college and what field to study may be making the most important financial decision of their lives. The return to education varies greatly by institutional quality, discipline, and individual characteristics. Estimating the ret...

  15. Satellite Beam Handover Strategy to Improve Return Link Resource Utilization

    OpenAIRE

    Jinyoung Jang; Minwoo Lee; Eunkyung Kim; Jaesung Lim

    2011-01-01

    Mobile communication on the multi-beam satellite communication has attracted attention, since Digital Video Broadcasting – Return Channel Satellite (DVB-RCS) has been successively implemented. In general, multi beam satellite employs uniform allocation of RF power and bandwidth to multi beams, since it is hard to predict the distribution of traffic requests and the arrival rate of new connection. This makes it difficult to satisfy the traffic requests in a beam. Thus, when an unpredictable ev...

  16. Illegal Immigration, Deportation Policy, and the Optimal Timing of Return

    OpenAIRE

    Vinogradova, Alexandra

    2015-01-01

    Countries with strict immigration policies often resort to deportation measures to reduce their stocks of illegal immigrants. Many of their undocumented foreign workers, however, are not deported but rather choose to return home voluntarily. This paper studies the optimizing behavior of undocumented immigrants who continuously face the risk of deportation, modeled by a stochastic process, and must decide how long to remain in the host country. It is found that the presence of uncertainty with...

  17. Miners’ return to work following injuries in coal mines

    Directory of Open Access Journals (Sweden)

    Ashis Bhattacherjee

    2016-12-01

    Full Text Available Background: The occupational injuries in mines are common and result in severe socio-economical consequences. Earlier studies have revealed the role of multiple factors such as demographic factors, behavioral factors, health-related factors, working environment, and working conditions for mine injuries. However, there is a dearth of information about the role of some of these factors in delayed return to work (RTW following a miner’s injury. These factors may likely include personal characteristics of injured persons and his or her family, the injured person’s social and economic status, and job characteristics. This study was conducted to assess the role of some of these factors for the return to work following coal miners’ injuries. Material and Methods: A study was conducted for 109 injured workers from an underground coal mine in the years 2000–2009. A questionnaire, which was completed by the personnel interviews, included among others age, height, weight, seniority, alcohol consumption, sleeping duration, presence of diseases, job stress, job satisfaction, and injury type. The data was analyzed using the Kaplan-Meier estimates and the Cox proportional hazard model. Results: According to Kaplan-Meier estimate it was revealed that a lower number of dependents, longer sleep duration, no job stress, no disease, no alcohol addiction, and higher monthly income have a great impact on early return to work after injury. The Cox regression analysis revealed that the significant risk factors which influenced miners’ return to work included presence of disease, job satisfaction and injury type. Conclusions: The mine management should pay attention to significant risk factors for injuries in order to develop effective preventive measures. Med Pr 2016;67(6:729–742

  18. On return rate implied by behavioural present value

    OpenAIRE

    Piasecki, Krzysztof

    2013-01-01

    The future value of a security is described as a random variable. Distribution of this random variable is the formal image of risk uncertainty. On the other side, any present value is defined as a value equivalent to the given future value. This equivalence relationship is a subjective. Thus follows, that present value is described as a fuzzy number, which is depend on the investor's susceptibility to behavioural factors. All above reasons imply, that return rate is given as a fuzzy probabili...

  19. The reaction of stock market returns to anticipated unemployment

    OpenAIRE

    Taamouti, Abderrahim; Gonzalo Muñoz, Jesús

    2012-01-01

    We empirically investigate the short-run impact of anticipated and unanticipated unemployment rates on stock prices. We particularly examine the nonlinearity in stock market's reaction to unemployment rate and study the effect at each individual point (quantile) of stock return distribution. Using nonparametric Granger causality and quantile regression based tests, we find that, contrary to the general findings in the literature, only anticipated unemployment rate has a strong impact on stock...

  20. Unemployment, Investment and Global Expected Returns: A Panel FAVAR Approach

    OpenAIRE

    Ron Smith; Gylfi Zoega

    2005-01-01

    We consider the hypothesis that a common factor, global expected returns, drives unemployment and investment in 21 OECD countries over the period 1960-2002. We investigate this hypothesis using a panel-factor augmented-vector autoregression (FAVAR). We first estimate the common factors of unemployment and investment by principal components and show that the first principal component of unemployment is almost identical to that of investment and that they both show the pattern one would expect ...