WorldWideScience

Sample records for investor forum program

  1. HIMSS Venture+ Forum and HX360 Provide Industry View of Health Technology Innovation, Startup and Investment Activity; Advancing the New Model of Care.

    Science.gov (United States)

    Burde, Howard A; Scarfo, Richard

    2015-01-01

    Presented by HIMSS, the Venture+ Forum program and pitch competition provides a 360-degree view on health technology investing and today's top innovative companies. It features exciting 3-minute pitch presentations from emerging and growth-stage companies, investor panels and a networking reception. Recent Venture+ Forum winners include TowerView Health, Prima-Temp, ActuaiMeds and M3 Clinician. As an industry catalyst for health IT innovation and business-building resource for growing companies and emerging technology solutions, HIMSS has co-developed with A VIA, a new initiative that addresses how emerging technologies, health system business model changes and investment will transform the delivery of care. HX360 engages senior healthcare leaders, innovation teams, investors and entrepreneurs around the vision of transforming healthcare delivery by leveraging technology, process and structure.

  2. Decrypting Financial Markets through E-Joint Attention Efforts: On-Line Adaptive Networks of Investors in Periods of Market Uncertainty

    Science.gov (United States)

    Casnici, Niccolò; Dondio, Pierpaolo; Casarin, Roberto; Squazzoni, Flaminio

    2015-01-01

    This paper looks at 800,000 messages on the Unicredit stock, exchanged by 7,500 investors in the Finanzaonline.com forum, between 2005 and 2012 and measured collective interpretations of stock market trends. We examined the correlation patterns between market uncertainty, bad news and investors' network structure by measuring the investors' communication patterns. Our results showed that the investors' network reacted to market trends in different ways: While less turbulent market phases implied less communication, higher market volatility generated more complex communication patterns. While the information content of messages was less technical in situations of uncertainty, bad news caused more informative messages only when market volatility was lower. This meant that bad news had a different impact on network behaviour, depending on market uncertainty. By measuring the investors' expertise, we found that their behaviour could help predict changes in daily stock returns. We also found that expert investors were more influential in communication processes during high volatility market phases, whereas they had less influence on the real-time forum's reaction after bad news. Our findings confirm the crucial role of e-communication platforms. However, they also show the need to reconsider the fragility of these collective intelligence systems when under external shocks. PMID:26244550

  3. The disposition effect and investor experience

    OpenAIRE

    Da Costa Jr, Newton; Goulart, Marco; Cupertino, Cesar; Macedo Jr, Jurandir; Da Silva, Sergio

    2013-01-01

    We examine whether investing experience can dampen the disposition effect, that is, the fact that investors seem to hold on to their losing stocks to a greater extent than they hold on to their winning stocks. To do so, we devise a computer program that simulates the stock market. We use the program in an experiment with two groups of subjects, namely experienced investors and undergraduate students (the inexperienced investors). As a control procedure, we consider random trade decisions made...

  4. 31 CFR 203.16 - Retainer and investor depositaries.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Retainer and investor depositaries... TREASURY TAX AND LOAN PROGRAM PATAX § 203.16 Retainer and investor depositaries. (a) Credit to TIP main account balance. On the business day that the TSC receives an AOC from a retainer or investor depositary...

  5. NREL's Industry Growth Forum Boosts Clean Energy Commercialization Efforts (Fact Sheet)

    Energy Technology Data Exchange (ETDEWEB)

    2010-12-01

    For more than a decade, the National Renewable Energy Laboratory's (NREL) Industry Growth Forum has been the nation's premier event for early-stage clean energy investment. The forum features presentations from the most innovative, promising, and emergent clean energy companies; provocative panels led by thought leaders; and organized networking opportunities. It is the perfect venue for growing cleantech companies to present their business to a wide range of investors.

  6. Visual Analysis of MOOC Forums with iForum.

    Science.gov (United States)

    Fu, Siwei; Zhao, Jian; Cui, Weiwei; Qu, Huamin

    2017-01-01

    Discussion forums of Massive Open Online Courses (MOOC) provide great opportunities for students to interact with instructional staff as well as other students. Exploration of MOOC forum data can offer valuable insights for these staff to enhance the course and prepare the next release. However, it is challenging due to the large, complicated, and heterogeneous nature of relevant datasets, which contain multiple dynamically interacting objects such as users, posts, and threads, each one including multiple attributes. In this paper, we present a design study for developing an interactive visual analytics system, called iForum, that allows for effectively discovering and understanding temporal patterns in MOOC forums. The design study was conducted with three domain experts in an iterative manner over one year, including a MOOC instructor and two official teaching assistants. iForum offers a set of novel visualization designs for presenting the three interleaving aspects of MOOC forums (i.e., posts, users, and threads) at three different scales. To demonstrate the effectiveness and usefulness of iForum, we describe a case study involving field experts, in which they use iForum to investigate real MOOC forum data for a course on JAVA programming.

  7. Relating group size and posting activity of an online community of financial investors: Regularities and seasonal patterns

    Science.gov (United States)

    Racca, P.; Casarin, R.; Dondio, P.; Squazzoni, F.

    2018-03-01

    Group size can potentially affect collective activity and individual propensity to contribute to collective goods. Mancur Olson, in his Logic of Collective Action, argued that individual contribution to a collective good tends to be lower in groups of large size. Today, online communication platforms represent an interesting ground to study such collaborative dynamics under possibly different conditions (e.g., lower costs related to gather and share information). This paper examines the relationship between group size and activity in an online financial forum, where users invest time in sharing news, analysis and comments with other investors. We looked at about 24 million messages shared in more than ten years in the finanzaonline.com online forum. We found that the relationship between the number of active users and the number of posts shared by those users is of the power type (with exponent α > 1) and is subject to periodic fluctuations, mostly driven by hour-of-the-day and day-of-the-week effects. The daily patterns of the exponent showed a divergence between working week and weekend days. In general, the exponent was lower before noon, where investors are typically interested in market news, higher in the late afternoon, where markets are closing and investors need better understanding of the situation. Further research is needed, especially at the micro level, to dissect the mechanisms behind these regularities.

  8. Responsible investors acting on climate change. Investors acting on climate change. Climate: Investors take action

    International Nuclear Information System (INIS)

    Simon, Marie; Blanc, Dominique; Husson-Traore, Anne-Catherine; Amiell, Alison; Barochez, Aurelie de; Conti, Sophie; Kamelgarn, Yona; Bonnet, Olivier; Braman, Stuart; Chenet, Hugues; Fisher, Remco; Hellier, Mickael; Horster, Maximilian; Kindelbacher, Sophie; Leaton, James; Lieblich, Sebastien; Neuneyer, Dustin; Lenoel, Benjamin; Smart, Lauren; Torklep Meisingset, Christine

    2015-02-01

    Some investors are willing to lower the carbon emission financed by their investment, recognizing that climate change has financial impacts. At first they measure the carbon footprint of their portfolio, than initiate shareholder engagement actions at oil and gas companies, publish list of exclusion composed of the most carbon-intensive companies and ask for ex fossil fuels indices. In June 2015, Novethic launches the first actualisation of its study released on February 2015 on the mobilisation of investors on climate change over the whole 2015 year. The trend is gaining momentum since more than 200 additional investors publicly disclosed commitments to integrate climate risk into their investment and management practices. In September 2015, for its second update of the report on how investors are taking action on climate change, more than 800 entities were screened. As a key result, investor's actions gain momentum: approaches are growing in number and becoming more expert, divestments are widespread in Europe, and green investments promises are more ambitious. The last edition of November 2015 highlights and scans an exclusive panel of 960 investors worth Euro 30 trillion of assets who have made steps forward to tackle climate change. During the last 8 months, their number has almost increased twofold. This document brings together the first edition of Novethic's study and its three updates

  9. 24 CFR 330.35 - Investors.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Investors. 330.35 Section 330.35... SECURITIES § 330.35 Investors. Association guaranteed multiclass securities may not be suitable investments for all investors. No investor should purchase securities of any class unless the investor understands...

  10. Institutional Investors

    DEFF Research Database (Denmark)

    Birkmose, Hanne Søndergaard; Strand, Therese

    Research Question/Issue: Institutional investors are facing increased pressure and threats of legislation from the European Union to abandon passive ownership strategies. This study investigates the prerequisites for – and potential dissimilarities in the practice of, active ownership among...... institutional investors in two Scandinavian countries with diminutive legal and cultural distance in general. Research Findings/Insights: Using data on shareholder proposals from Danish and Swedish annual general meetings from 2006 throughout 2010, we find that institutional investors are approximately....../Policy Implications: Regulators should be aware of the impact by local governance mechanisms, and how shareholders react under different legal and practical prerequisites. The paper also highlights legal elements that differ between Denmark and Sweden, and which might affect institutional activism....

  11. Investor Protections and Economic Growth

    OpenAIRE

    Haidar, Jamal Ibrahim

    2009-01-01

    Using objective measures of investor protections in 170 countries, I establish that the level of investor protection matters for cross-country differences in GDP growth: countries with stronger protections tend to grow faster than those with poor investor protections.

  12. The Local Bias of Individual Investors

    OpenAIRE

    Ning Zhu

    2002-01-01

    This study investigates individual investors' bias towards nearby companies. Using data from a large U.S. discount brokerage, we find that individual investors tend to invest in companies closer to them relative to the market portfolio. Unlike Coval and Moskowitz's (1999) findings on institutional investors, however, we find that advantageous information cannot explain individual investors' local bias. Accounting numbers and information asymmetry matter less to individual investors' local bia...

  13. Financial statistics of major US investor-owned electric utilities 1992

    Energy Technology Data Exchange (ETDEWEB)

    1993-12-28

    The Financial Statistics of Major US Investor-Owned Electric Utilities publication presents summary and detailed financial accounting data on the investor-owned electric utilities. The objective of the publication is to provide Federal and State governments, industry, and the general public with current and historical data that can be used for policymaking and decisionmaking purposes related to investor-owned electric utility issues. The Financial Statistics of Major US Investor-Owned Electric Utilities publication provides information about the financial results of operations of investor-owned electric utilities for use by government, industry, electric utilities, financial organizations and educational institutions in energy planning. In the private sector, the readers of this publication are researchers and analysts associated with the financial markets, the policymaking and decisionmaking members of electric utility companies, and economic development organizations. Other organizations that may be interested in the data presented in this publication include manufacturers of electric power equipment and marketing organizations. In the public sector, the readers of this publication include analysts, researchers, statisticians, and other professionals engaged in regulatory, policy, and program areas. These individuals are generally associated with the Congress, other legislative bodies, State public utility commissions, universities, and national strategic planning organizations.

  14. Forum on orthophotography: Summary Report

    Science.gov (United States)

    ,

    1990-01-01

    A Forum on Orthophotography was held on May 15, 1990, at the National Aeronautics and Space Administration's Goddard Space Flight Center in Greenbelt, Maryland. The forum was sponsored jointly by the U.S. Soil Conservation Service, the U.S. Geological Survey, the National Governors' Association, and the National Association of Counties. The purpose of the forum was to expand the understanding and use of orthophoto products among the user community, as well as among those currently considering, or as yet unfamiliar with, the use of these products. It was also intended to provide a forum for assessing requirements for, and interest in, orthophoto products and for the identification and discussion of issues and future needs concerning orthophoto use and coordination. The 1-day forum was organized into three major sessions that focussed on technical aspects, user applications, and management issues. The first session presented a brief background and overview of the technical characteristics of standard and digital orthophotos. The second session included formal presentations by Federal, State, and county government agencies on their current and planned applications of orthophoto products, with particular emphasis on their use within geographic information systems. In the third session, private industry addressed their community's interest, capabilities, and potential role. This session also included a proposal by the U.S. Soil Conservation Service for a national cooperative program for the production of l:12,000-scale orthophotoquad products. In addition to the formal presentations, the forum provided a time for open discussion in which attendees had an opportunity to exchange information and make statements about their needs or other items pertinent to the production and dissemination of orthophoto products. Several agency orthophoto product exhibits and interactive demonstrations were also available throughout the day. This report includes a forum agenda and

  15. The Relationships among Group Size, Participation, and Performance of Programming Language Learning Supported with Online Forums

    Science.gov (United States)

    Shaw, Ruey-Shiang

    2013-01-01

    This study examined the relationships among group size, participation, and learning performance factors when learning a programming language in a computer-supported collaborative learning (CSCL) context. An online forum was used as the CSCL environment for learning the Microsoft ASP.NET programming language. The collaborative-learning experiment…

  16. Are domestic investors more informed than foreign investors? Evidence from the Perfectly Segmented Market in China

    NARCIS (Netherlands)

    Chan, K.A.; Menkveld, A.J.; Yang, Z.

    2007-01-01

    This paper uses the perfect market segmentation setting in China's stock market to compare the information content of the stock trades of domestic and foreign investors. We study 76 firms that issue both A-shares (for domestic investors) and B-shares (for foreign investors) and compare the price

  17. Designing nursing excellence through a National Quality Forum nurse scholar program.

    Science.gov (United States)

    Neumann, Julie A; Brady-Schluttner, Katherine A; Attlesey-Pries, Jacqueline M; Twedell, Diane M

    2010-01-01

    Closing the knowledge gap for current practicing nurses in the Institute of Medicine (IOM) core competencies is critical to providing safe patient care. The National Quality Forum (NQF) nurse scholar program is one organization's journey to close the gap in the IOM core competencies in a large teaching organization. The NQF nurse scholar program is positioned to provide a plan to assist current nurses to accelerate their learning about quality improvement, evidence-based practice, and informatics, 3 of the core competencies identified by the IOM, and focus on application of skills to NQF nurse-sensitive measures. Curriculum outline, educational methodologies, administrative processes, and aims of the project are discussed.

  18. Option trading and individual investor performance

    NARCIS (Netherlands)

    Bauer, R.; Cosemans, M.; Eichholtz, P.

    2009-01-01

    This paper examines the impact of option trading on individual investor performance. The results show that most investors incur substantial losses on their option investments, which are much larger than the losses from equity trading. We attribute the detrimental impact of option trading on investor

  19. The Inventor-Investor Conundrum

    Science.gov (United States)

    Hobbs, Francis

    2006-01-01

    The complexities of developing a business based on a novel product may appear insurmountable. Stereotypical convention suggests that there are two major players: polarized inventors and "greedy" investors. Surely there is a way of aligning the inventor-investor relationship into something positive for both parties? In this paper Francis…

  20. Common mistakes of investors

    Directory of Open Access Journals (Sweden)

    Yuen Wai Pong Raymond

    2012-09-01

    Full Text Available Behavioral finance is an actively discussed topic in the academic and investment circle. The main reason is because behavioral finance challenges the validity of a cornerstone of the modern financial theory: rationality of investors. In this paper, the common irrational behaviors of investors are discussed

  1. Are two investors better than one?

    OpenAIRE

    Annamaria Menichini; Peter Simmons

    2001-01-01

    This paper compares the optimal investor repayment contracts of a firm which has private information over its expost revenues when the finance can be provided by a single or by two investors (say a big shareholder and a group of small dispersed shareholders). Costly monitoring can be carried out by those investors who have a larger stake into the contract. When they are the only investors we use the Khalil-Parigi financial contract with non-contractible monitoring, in which the probabilities ...

  2. KNOWLEDGE AND SKILLS OF PROFESSIONALS IN INVESTOR RELATIONS

    Directory of Open Access Journals (Sweden)

    Andreja Hašček

    2017-01-01

    Full Text Available Management of investor relations is of utmost importance for a company that raises capital for its operations and projects in the capital market. Investor relations is a function through which the company develops investor confidence in the company and its business operations by establishing a continuous flow of information from the company to the investors on the basis of which investors can make an informed decision about investing in that company, and a flow of information from the investors to the company on the basis of which the company can draw conclusions on the requirements, needs and expectations of investors. Since this is an interdisciplinary function of the company, professionals with a broad range of knowledge and skills work in investor relations. This paper identifies the required knowledge and skills that are minimally required in order for a person in investor relations to be able to fulfil the basic task of this function, the purpose of which is to develop investor confidence in the company and its business operations in order to secure access to investor capital for the company.

  3. LLW Forum meeting report, May 7--9, 1997

    International Nuclear Information System (INIS)

    Norris, C.; Brown, H.; Lovinger, T.; Scheele, L.; Shaker, M.A.

    1997-05-01

    The Low-Level Radioactive Waste Forum met in Chicago, Illinois, on may 7--9, 1997. Twenty-three Forum Participants, Alternate Forum Participants, and meeting designees representing 20 compacts and states participated. A report on the meeting is given under the following subtitles: New developments in states and compacts; Upgrading an existing disposal facility; Revisions to DOE Order 5820 re DOE waste management; Conference of radiation control program directors: Recent and upcoming activities; National Conference of State Legislatures' (NCSL) low-level radioactive waste working group: Recent and upcoming activities; Executive session; LLW forum business session; Public involvement and risk communication: Success at West Valley, New York; DOE low-level waste management program; impact of the International Atomic Energy Agency's convention on waste; Panel discussion: The environmental justice concept--Past, present and future; New technologies for processing and disposal of LLRW; High-level and low-level radioactive waste: A dialogue on parallels and intersections; Draft agreement re uniform application of manifesting procedures; Regulatory issues focus; LLW forum October 1997 agenda planning; Resolutions; LLW forum regulatory issues discussion group meets; and Attendance

  4. EDM forum supplement overview.

    Science.gov (United States)

    Calonge, Ned

    2012-07-01

    The Agency for Health Research and Quality funded the Electronic Data Methods Forum (EDM Forum) to share the experiences and learnings from 11 research teams funded through three different grant programs, each of which involve the use of electronic clinical data in Comparative Effectiveness Research and Patient-Centered Outcomes Research. This overview is meant to describe the context in which the EDM forum was created and to introduce the set of papers in this supplement to Medical Care that describe the challenges and approaches to the use of electronic clinical data in the three key areas of analytic methods, clinical informatics and data governance. The participants in the EDM Forum are providing innovative approaches to generate information that can support the building of a "learning health care system." The compilation of papers presented in this supplement should serve as a resource to others working to develop the infrastructure for collecting, validating and using electronic data for research.

  5. Private Equity for Retail Investors : How to efficiently involve Finnish retail investors in private equity

    OpenAIRE

    Moita, Angelo

    2017-01-01

    Private equity has been the best performing asset class for institutional investors. Meanwhile, retail investors have been left out from the asset class for several reasons, such as legislation and wealth profiling. This study aims at assessing the types of private equity vehicles that could be the most appropriate for Finnish retail investors. The study solely focuses on the investment opportunities, hence it does not cover investment behaviour. Private equity should not be a primary as...

  6. PENGARUH BOOKS-TAX DIFFERENCES TERHADAP INVESTOR TRADING

    Directory of Open Access Journals (Sweden)

    M Khoiru Rusydi

    2016-04-01

    Full Text Available Abstrak: Pengaruh Books-Tax Differences Terhadap Investor Trading. Penelitian ini bertujuan menguji secara empiris pengaruh pengaruh Books-Tax Differences Terhadap Investor Trading di Indonesia. Penelitian ini merupakan model kuantitatif dengan metode analisa regresi berganda, metode regresi ini di tetapkan pada perusahaan manufaktur yang terdaftar di BEI selama kurun waktu 2010-2012.Hasil penelitian ini menunjukkan Books-Tax Differences berpengaruh negatif terhadap Investor Trading / Trading Volume Activity di Indonesia, yang artinya bahwa semakin besar kesenjangan antara laba akuntansi dan laba fiskal akan mendorong investor untuk tidak melakukan aktivitas perdagangan saham perusahaan tersebut. Abstract: The influence of Books-Tax Differences to Investor Trading. This research aims to examine empirically the influence of Books- Tax Differences to Investor Trading in Indonesia. This research is a quantitative model with multiple regression analysis method, regression method is in charge in companies listed on the Stock Exchange during the period 2010- 2012. The results of this research indicate Books-Tax Differences negatively affect the Investor Trading / Trading Volume Activity in Indonesia, which means that the greater the gap between accounting profit and taxable profit will encourage investors don’t activity the company's stock trading.

  7. Essays on investor behavior and trading activity

    OpenAIRE

    Kyröläinen, P. (Petri)

    2007-01-01

    Abstract This thesis investigates a set of equity market phenomena associated with investors' trading activity, using a comprehensive Finnish Central Securities Depository (FCSD) database that records practically all trades by Finnish investors. This database enables us to classify a large number of heterogeneous investors using both economic and institutional characteristics. The first essay classifies investors by trading activity. It analyzes trading styles of active and passive inv...

  8. Experienced and Novice Investors

    DEFF Research Database (Denmark)

    Holm, Claus; Rikhardsson, Pall M.

    2008-01-01

    This paper examines the effect of environmental information on investment decisions. The results are based on an experiment in which groups of investors (varied by experience) were asked to make short and long term investment allocation decisions based on financial information and on supplementary...... environmental information (varied between cases). The results suggest that environmental information disclosure influences investment allocation decisions. The results also suggest that potentially mitigating factors such as the investment horizon and the experience level of investors affect investment...... allocation decisions, but the predicted main effect of positive environmental information holds across different investment horizons and investor types. Hence, the results are not attributable to interaction effects. Interestingly, compared to other company information, environmental information is not rated...

  9. NFP Investor Conference. Growth is back in sight.

    Science.gov (United States)

    Haugh, Richard

    2002-06-01

    In a whirlwind of high-stakes meetings in New York City in mid-May, two dozen of the nation's largest hospitals and health systems strutted their stuff with a single goal: securing their future. Their message was clear: back-to-basics works, and now it's time to grow the business. Executives from 23 providers outlined their work on increasing revenue, boosting margins and shoring up balance sheets. They presented their market positions, strategic initiatives and financial results for investment analysts, credit raters and bond traders. The third annual Non-Profit Healthcare Investor Conference was co-sponsored by the American Hospital Association, Health Forum, the Healthcare Financial Management Association and Salomon Smith Barney. The focus on growth doesn't come without challenges Several common themes emerged from the presentations, among them pressure on reimbursement, workforce shortages, liability insurance issues and capacity constraints. Yet executives agree: it all comes down to the basics, and building the strength to keep their missions alive. As Thomas Meier, vice president and treasurer of Oakland, Calif.-based Kaiser Permanente, put it: "No margin, no mission, no más."

  10. Lithuanian Investors' Behaviour During Financial Crisis

    OpenAIRE

    Bikas, Egidijus; Kavaliauskas, Andrius

    2010-01-01

    Based on research of academic literature, this article analyses Lithuanian investors' behaviour during financial crisis. The article summarizes the newest finance science subjects, theories of behavioural finance, and works of various scientists, in order to find cognitive and emotional investors' deviations from rational behaviour, and also to better understand and explain how emotions and environment valuation mistakes influence investors and their decision-making. Emotional nature of inves...

  11. 78 FR 66318 - Securities Investor Protection Corporation

    Science.gov (United States)

    2013-11-05

    ...] Securities Investor Protection Corporation AGENCY: Securities and Exchange Commission. ACTION: Proposed rule. SUMMARY: The Securities Investor Protection Corporation (``SIPC'') filed a proposed rule change with the... satisfaction of customer claims for standardized options under the Securities Investor Protection Act of 1970...

  12. Investor attention and FX market volatility

    OpenAIRE

    Goddard, John; Kita, Arben; Wang, Qingwei

    2015-01-01

    We study the relationship between investors’ active attention, measured by a Google search volume index (SVI), and the dynamics of currency prices. Investor attention is correlated with the trading activities of large FX market participants. Investor attention comoves with comtemporaneous FX market volatility and predicts subsequent FX market volatility, after controlling for macroeconomic fundamentals. In addition, investor attention is related to the currency risk premium. Our results sugge...

  13. Relationship Between Psychological Attitude of Investors and Their Investment Behavior: A Case Study on ISE Investors

    Directory of Open Access Journals (Sweden)

    Yusuf DEMİR

    2011-06-01

    Full Text Available In financial circles, one of the most discussed and interested topics is the forecastability of stock prices. Many of the studies aiming at determining stock market prices rest on the fact that investors make their decisions rationally based on facts and data. In this paper, we aim to investigate the behavior of individual investors in ISE based on published literature in behavioral finance area. We have found that some psychological prejudice in fact affects the behavior of individual investors. Unlike the conventional assumptions many investors make systematic mistakes and do not utilize rational answers even though it is known. Moreover, media, friends and similar environmental factors also affect the investors’ choices, and processes that turns into herd behavior creating abnormalities in the markets which in turn causes exceptionally high or low reactions

  14. A Conceptual Model of Investor Behavior

    OpenAIRE

    Lovric, M.; Kaymak, U.; Spronk, J.

    2008-01-01

    textabstractBased on a survey of behavioral finance literature, this paper presents a descriptive model of individual investor behavior in which investment decisions are seen as an iterative process of interactions between the investor and the investment environment. This investment process is influenced by a number of interdependent variables and driven by dual mental systems, the interplay of which contributes to boundedly rational behavior where investors use various heuristics and may exh...

  15. Investors' performance and trading behavior on the Norwegian stock market

    OpenAIRE

    Che, Limei

    2011-01-01

    This dissertation examines investors’ performance and trading behavior on the Norwegian stock market, using a unique and extensive data set of monthly holdings of all the investors. The first paper studies how Norwegian individual investors, financial institutional investors and foreign investors affect stock return volatility and finds surprising and interesting results: domestic individual investors and financial institutional investors dampen stock return volatility, and foreign investors ...

  16. How value-glamour investors use financial information: UK evidence of investor's confirmation bias

    OpenAIRE

    Doung, C.; Pescetto, G.; Santamaria, D.

    2014-01-01

    The paper investigates investor’s behaviour in the context of value–glamour investing and fundamental analysis, and provides a direct test of the confirmation bias by bringing together the evidence from several strands of literature into a well-defined framework of investor behaviour. The empirical evidence presented is in line with a model of\\ud investor’s asymmetric reaction to good and bad news due to confirmation bias. Pessimistic value investors typically under-react to good financial in...

  17. How does Investors' Legal Protection affect Productivity and Growth?

    OpenAIRE

    Binyamin Berdugo; Sharon Hadad

    2009-01-01

    This paper analyzes the implications of investors' legal protection on aggregate productivity and growth. We have two main results. First, that better investors' legal protection can mitigate agency problems between investors and innovators and therefore expand the range of high-tech projects that can be financed by non-bank investors. Second, investors' legal protection shifts investment resources from less productive (medium-tech) to highly productive (high-tech) projects and therefore enha...

  18. The minimum price required by investors in IPOs

    Directory of Open Access Journals (Sweden)

    Ahmed Jeribi

    2015-01-01

    Full Text Available With regard to purchasing Tunisian IPOs shares, the current paper aims at considering two types of investors: a non-institutional investor and an institutional one. Each is concerned with placing a purchase order at the offer price during the subscription period. In line with the literature on IPOs, we attempted to determine the minimum price required by an investor allowing for recovering the initial investment, information costs, transaction costs, and the offsetting of shortfall. We expect that the initial return of an IPO share in the Tunisian market is positively related to the following factors: the number of non-institutional investors participating during the subscription period, the subscription ratio of institutional investors, the expected rate of return by investors, the gap between the closing date of the subscription period and the day following the announcement of the subscription result, the gap between the announcement of the subscription result and the first listing day, the number of trading days, the cost of information and the transaction costs. However, it is negatively related to other determinants, such as the discount level, the number of shares allocated for a non-institutional investor and the number of offered shares, which are allocated to non-institutional investors.

  19. Essays on the social dimensions of investor behavior

    OpenAIRE

    Hoffmann, Arvid Oskar Ivar

    2007-01-01

    Traditional finance theories assume that investors only evaluate risk and expected returns when making investment decisions. More recent behavioral finance theories, however, argue that for many investors there is more to investing than only evaluating risk and returns. Examples hereof are investors who only invest in domestic companies or companies that operate in a social responsible way. This thesis examines the (personal) needs and behavior of individual investors in The Netherlands and c...

  20. 77 FR 56242 - Dodd-Frank Investor Advisory Committee

    Science.gov (United States)

    2012-09-12

    ... Investor Advisory Committee AGENCY: Securities and Exchange Commission. ACTION: Notice of Meeting of Securities and Exchange Commission Dodd- Frank Investor Advisory Committee. SUMMARY: The Securities and Exchange Commission Investor Advisory Committee, established pursuant to Section 911 of the Dodd-Frank Wall...

  1. 78 FR 43254 - Dodd-Frank Investor Advisory Committee

    Science.gov (United States)

    2013-07-19

    ... Investor Advisory Committee AGENCY: Securities and Exchange Commission. ACTION: Notice of Meeting of Securities and Exchange Commission Dodd- Frank Investor Advisory Committee. SUMMARY: The Securities and Exchange Commission Investor Advisory Committee, established pursuant to Section 911 of the Dodd-Frank Wall...

  2. 78 FR 20156 - Dodd-Frank Investor Advisory Committee

    Science.gov (United States)

    2013-04-03

    ... Investor Advisory Committee AGENCY: Securities and Exchange Commission. ACTION: Notice of Meeting of Securities and Exchange Commission Dodd- Frank Investor Advisory Committee. SUMMARY: The Securities and Exchange Commission Investor Advisory Committee, established pursuant to Section 911 of the Dodd-Frank Wall...

  3. 78 FR 2706 - Dodd-Frank Investor Advisory Committee

    Science.gov (United States)

    2013-01-14

    ... Investor Advisory Committee AGENCY: Securities and Exchange Commission. ACTION: Notice of Meeting of Securities and Exchange Commission Dodd- Frank Investor Advisory Committee. SUMMARY: The Securities and Exchange Commission Investor Advisory Committee, established pursuant to Section 911 of the Dodd-Frank Wall...

  4. 77 FR 29705 - Dodd-Frank Investor Advisory Committee

    Science.gov (United States)

    2012-05-18

    ... Investor Advisory Committee AGENCY: Securities and Exchange Commission. ACTION: Notice of First Meeting of Securities and Exchange Commission Dodd-Frank Investor Advisory Committee. SUMMARY: The Securities and Exchange Commission Investor Advisory Committee, established pursuant to Section 911 of the Dodd-Frank Wall...

  5. Essays on the social dimensions of investor behavior

    NARCIS (Netherlands)

    Hoffmann, Arvid Oskar Ivar

    2007-01-01

    Traditional finance theories assume that investors only evaluate risk and expected returns when making investment decisions. More recent behavioral finance theories, however, argue that for many investors there is more to investing than only evaluating risk and returns. Examples hereof are investors

  6. A Conceptual Model of Investor Behavior

    NARCIS (Netherlands)

    M. Lovric (Milan); U. Kaymak (Uzay); J. Spronk (Jaap)

    2008-01-01

    textabstractBased on a survey of behavioral finance literature, this paper presents a descriptive model of individual investor behavior in which investment decisions are seen as an iterative process of interactions between the investor and the investment environment. This investment process is

  7. NASA SMD Science Education and Public Outreach Forums: A Five-Year Retrospective

    Science.gov (United States)

    Smith, Denise A.; Peticolas, Laura; Schwerin, Theresa; Shipp, Stephanie

    2014-06-01

    NASA’s Science Mission Directorate (SMD) created four competitively awarded Science Education and Public Outreach Forums (Astrophysics, Heliophysics, Planetary Science, Earth Science) in 2009. The objective is to enhance the overall coherence of SMD education and public outreach (E/PO), leading to more effective, efficient, and sustainable use of SMD science discoveries and learning experiences. We summarize progress and next steps towards achieving this goal with examples drawn from Astrophysics and cross-Forum efforts. Over the past five years, the Forums have enabled leaders of individual SMD mission and grant-funded E/PO programs to work together to place individual science discoveries and learning resources into context for audiences, conveying the big picture of scientific discovery based on audience needs. Forum-organized collaborations and partnerships extend the impact of individual programs to new audiences and provide resources and opportunities for educators to engage their audiences in NASA science. Similarly, Forum resources support scientists and faculty in utilizing SMD E/PO resources. Through Forum activities, mission E/PO teams and grantees have worked together to define common goals and provide unified professional development for educators (NASA’s Multiwavelength Universe); build partnerships with libraries to engage underserved/underrepresented audiences (NASA Science4Girls and Their Families); strengthen use of best practices; provide thematic, audience-based entry points to SMD learning experiences; support scientists in participating in E/PO; and, convey the impact of the SMD E/PO program. The Forums have created a single online digital library (NASA Wavelength, http://nasawavelength.org) that hosts all peer-reviewed SMD-funded education materials and worked with the SMD E/PO community to compile E/PO program metrics (http://nasamissionepometrics.org/). External evaluation shows the Forums are meeting their objectives. Specific examples

  8. Proceedings of the business and investment forum 'renewable energy in Africa'. A Thermie and UNESCO action; Recueil des interventions du forum d'affaires 'energies renouvelables en Afrique'. Une action du programme Thermie et de l'Unesco

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-07-01

    One of the objectives of THERMIE (which is the demonstration component of the Research and Technological Development JOULE-THERMIE programme of the European community in non-nuclear energy technologies) is to promote co-operation in the field of renewable energy technologies between the European Union and African countries. The World Solar Programme 1996-2005 adopted during the Harare summit (September 96) organised by UNESCO in co-operation with the European Commission, recommends a wider use of renewable energy sources, through the implementation of national high priority projects. This Business and investment Forum is an integral part of the follow-up to the World Solar Summit. Following QUITO in September 98 and HARARE in March 99, similar events will be organised in other Regions, with an ADEME co-ordination. The Forum was specifically targeted at decision and policy-makers, local authorities, investors and international co-operation agencies, industrialists, institutional representatives and programme managers working in the field of Renewable Energy. One of the main goals of this Forum is to promote investments and financing opportunities for projects using efficient renewable energy technologies, for a sustainable development in Africa. (author)

  9. The Asymmetric Effects of Investor Sentiment

    DEFF Research Database (Denmark)

    Lutz, Chandler

    investors only act as corrective force during certain time periods. We also show that our index predicts implied volatility, media pessimism, and mutual fund flows. Overall, our findings are consistent with both the theories and anecdotal accounts of investor sentiment in the stock market....

  10. LLW Forum meeting report, October 20--22, 1997

    International Nuclear Information System (INIS)

    Norris, C.; Brown, H.; Lovinger, T.; Scheele, L.; Shaker, M.A.

    1997-10-01

    The Low-Level Radioactive Waste Forum met in Annapolis, Maryland, on October 20--22, 1997. Twenty-six Forum Participants, Alternate Forum Participants, and meeting designees representing 22 compacts and states participated. A report on the meeting is given under the following subtitles: New developments in states and compacts; Discussion with NRC Commissioner McGaffigan; Regulatory issues session; Executive session; LLW forum business session; DOE low-level waste management program; Transportation of radioactive waste; Environmental equity: Title VI; Congressional studies on Ward Valley Site; Implementation of DOE's strategy for waste management; Relicensing Envirocare; Draft agreement for uniform application of manifesting procedures; CRCPD report; Panel: Future of low-level radioactive waste management; Agenda planning: February 1998; Resolutions; and Attendance

  11. Do Older Investors Make Better Investment Decisions?

    OpenAIRE

    George M Korniotis; Alok Kumar

    2011-01-01

    This paper examines the investment decisions of older individual investors. We find that older and experienced investors are more likely to follow rules of thumb that reflect greater investment knowledge. However, older investors are less effective in applying their investment knowledge and exhibit worse investment skill, especially if they are less educated, earn lower income, and belong to minority racial/ethnic groups. Overall, the adverse effects of aging dominate the positive effects of ...

  12. Modeling investor optimism with fuzzy connectives

    NARCIS (Netherlands)

    Lovric, M.; Almeida, R.J.; Kaymak, U.; Spronk, J.; Carvalho, J.P.; Dubois, D.; Kaymak, U.; Sousa, J.M.C.

    2009-01-01

    Optimism or pessimism of investors is one of the important characteristics that determine the investment behavior in financial markets. In this paper, we propose a model of investor optimism based on a fuzzy connective. The advantage of the proposed approach is that the influence of different levels

  13. investors behavior, earnings management and governance

    Directory of Open Access Journals (Sweden)

    Afraa Khzouri

    2014-07-01

    Full Text Available The aim of this paper is to study the relationship between earnings management, governance and investors behavior, since this latter can inform about the nature of earnings management and can be considered as a governance mechanism to reduce accounts manipulations. On the basis of a sample of 700 American firms for the period of 1996-2006, our empirical results show that investors who take short positions, are able to interpret the information detected from the earnings management. The activity of these investors may be considered as an indicator of the quality of the governance structure and the presence and nature of earnings management. The under-reaction of investors to information leads to short-term sale of the shares of poorly governed firms and characterized by an opportunistic earnings management and to invest in firms well-governed and characterized by an informational earnings management therefore an abnormal profit can be realized.

  14. Price Manipulation in Indonesian Capital Market: Empirical Analysis on Stockbroker’s Behavior and Interaction Pattern between Domestic Investors and Foreign Investors

    Directory of Open Access Journals (Sweden)

    Buddi Wibowo

    2014-08-01

    Full Text Available Price manipulation in stock market transaction is an important issue when developing investor  conidence  and  market  integrity  is  a  priority.  Price  manipulation  is  prevalent  in emerging  markets,  which  still  have  institutional  problems  and  lack  regulations.  A  stock market  as  a  mutual  company  has  an  institutional  problem  when  a  stock  broker  instead  of being an intermediary, behaves like a dealer and a principal for some stocks. A stock broker has strong incentives to give a signal to public investors about price of some stocks in order to get an unfair proit. A usual pattern of manipulation done by stock broker is a pump and dump manipulation. Artiicial price increase was made by manipulators through buying and selling activities among themselves until tend chaser and naive investors jump to this game. When stock price is at the highest level, manipulators start selling their stock. This research measured  and  identiied  behavior  pattern  of  stock  brokers  in  Indonesian  Stock  Market, concerning  their  contribution  to  price  manipulation    existence.    Because  of  the  important  role  played by foreign investors in Indonesian stock market, this research would also identify interaction  pattern  between  foreign  and  domestic  investors.  Empirical  researches  showed that  foreign investors  were underperformed domestic investors in Indonesian stock market (Dvorak, 2005, and Agarwal et al. 2009. In spite of their superior experience and inancial support  compared  to  domestic  investosr,  foreign  investors  got  lower  return  on  average. Agarwal  et  al.  (2009  showed  this  phenomenon  occured  because  foreign  investors  were more aggressive than domestic investors. Dvorak (2005 argued that domestic investors had more  access  and  network  to  collect  short  run

  15. Attracting Investor Attention through Advertising

    OpenAIRE

    Dong Lou

    2014-01-01

    This paper provides empirical evidence that managers adjust firm advertising expenditures to influence investor behavior and short-term stock prices. First, this paper shows that increased advertising spending is associated with individual investor buying and a contemporaneous rise in abnormal stock returns, which is then reversed in subsequent years. Second, there is a significant rise in firm advertising expenditures prior to insider sales and seasoned equity offerings. This large increase ...

  16. Multifractals of investor behavior in stock market

    Science.gov (United States)

    Oh, Gabjin

    2017-07-01

    In this paper, we analyze the nonlinear properties of investor activity using the multifractal detrended fluctuation analysis (MF-DFA) method. Using the aggregated trading volumes of buying, selling, and normalized net investor trading (NIT) to quantify the characteristics of trader behavior in the KOSPI market, we find that the cumulative distribution functions of all NIT time series, except for individual traders, follow a power-law distribution with an exponent in the range of 2.92 ≤ γ ≤ 3.87. To observe the nonlinear features of investor activity, we also calculate the multifractal spectra for the buyer, seller, and NIT data sets and find that a multifractal structure exists in all of the data, regardless of the investor type studied.

  17. Portfolio optimization retail investor

    Directory of Open Access Journals (Sweden)

    I. А. Kiseleva

    2016-01-01

    Full Text Available The article notes that the task of the investor's risk management is to, on the one hand, as much as possible to strive to achieve the criterion of risk level, and on the other hand, in any case not exceed it. Since the domestic theory of risk management is under development, the problem of the optimal ratio of "risk-income" becomes now of particular relevance. This article discusses the different distribution areas of the private investor in order to obtain the maximum profit. The analysis showed us the overall economic and political system of the country, as well as the legislative provision of guarantees to the investor. To obtain sufficient income and reduce losses it is important to maintain the optimum value found between the amount of the investor's risk and capital transactions. Model of optimal placement of funds led to the conclusion about inexpediency strong increase in the diversification of the investment portfolio (more than 10 different types of assets in the portfolio, since it increases the complexity of its practical form, while the portfolio characteristics are improved significantly. It is concluded that it is impossible to increase revenue without increasing the risk or reduce risk without reducing income. The analysis shows that there is no single best asset portfolio. It is impossible to increase revenue without increasing the risk or reduce risk without reducing income. Possible combination of the "riskincome" will depend on the objective function. Most diversified and bringing the best return per unit of risk, is a portfolio that contains the most risky assets.

  18. The Asymmetric Effects of Investor Sentiment

    DEFF Research Database (Denmark)

    Lutz, Chandler

    2016-01-01

    We use the returns on lottery-like stocks and a dynamic factor model to construct a novel index of investor sentiment. This new measure is highly correlated with other behavioral indicators, but more closely tracks speculative episodes. Our main new finding is that the effects of sentiment...... are asymmetric: During peak-to-trough periods of investor sentiment (sentiment contractions), high sentiment predicts low future returns for the cross section of speculative stocks and for the market overall, whereas the relationship between sentiment and future returns is positive but relatively weak during...... trough-to-peak episodes (sentiment expansions). Overall, these results match theories and anecdotal accounts of investor sentiment....

  19. 78 FR 68887 - Dodd-Frank Investor Advisory Committee; Meeting

    Science.gov (United States)

    2013-11-15

    ... Investor Advisory Committee; Meeting AGENCY: Securities and Exchange Commission. ACTION: Notice of Meeting of Securities and Exchange Commission Dodd- Frank Investor Advisory Committee. SUMMARY: The Securities and Exchange Commission Investor Advisory Committee, established pursuant to Section 911 of the...

  20. Investors flock to Venezuelan bidding rounds

    International Nuclear Information System (INIS)

    Kielmas, M.

    1997-01-01

    The Venezuelan government has disproved the long-cherished oil industry mantra that low tax rates attract private sector investors. At a time when most company managements feel they need to collect balance sheet assets at any price. Venezuela is ensuring that it remains the upmarket not the bargain basement investor target. Despite offering some of the most punitive and complicated fiscal terms worldwide, a near certainty that taxes will rise in the future and state oil company control of the join ventures' operating committees, oil investors of all sizes cannot keep away. The third marginal field reactivation round, launched late last year attracted a staggering 259 companies, both foreign and local, which prequalified to bid. (Author)

  1. Financial Advice and Individual Investor Portfolio Performance

    NARCIS (Netherlands)

    Kramer, M.M.

    2012-01-01

    This paper investigates whether financial advisers add value to individual investors portfolio decisions by comparing portfolios of advised and self-directed (execution-only) Dutch individual investors. The results indicate significant differences in characteristics and portfolios between these

  2. Are Foreign Institutional Investors Good for Emerging Markets?

    OpenAIRE

    Frenkel, Michael; Menkhoff, Lukas

    2003-01-01

    Portfolio flows channeled via institutional investors were the most dynamic capital flows to emerging markets in the 1990s. We use an asymmetric information framework to derive five propositions, to integrate empirical evidence and to suggest policy implications. Opaque information in emerging markets hinders foreign market entrants. Moreover, following financial opening, institutional investors can worsen the position of local investors due to unintentionally creating unbalanced diversificat...

  3. THE EFFECT OF INVESTOR SENTIMENT ON ISE SECTOR INDICES

    Directory of Open Access Journals (Sweden)

    SERPİL CANBAŞ

    2013-06-01

    Full Text Available Determining the factors that affect stock returns is one of the most investigated topics of the finance literature. A number of models have been developed to explain stock returns. Some of these models maintain that stock returns are generated rationally. These models are, Capital Asset Pricing Model, Index Models, Arbitrage Pricing Model and Macroeconomic Factor Models. Nevertheless, these models could not have explained stock returns, although they have used different parameters and methods. Some studies have maintained that investor psychology would have a role in the stock return generation process. There are three theories that investigate the effect of investor psychology on financial markets: Mental accounting theory, herd behavior theory and investor sentiment theory. The aim of this study is to investigate the effect of investor sentiment on stock returns. In this context, three investor sentiment proxies have been determined in the light of previous studies. These proxies are closed-end fund discount, average fund flow of mutual funds and the ratio of net stock purchases of foreign investors to ISE market capitalization. ISE sector indices are used to proxy stock returns. On the other hand, there is a possibility that investor sentiment would merely reflect economic innovations. Some economic factors are used as control variables in order to examine this possibility. Regression analyses are employed for investigating the effect of investor sentiment on stock returns. Findings suggest that investor sentiment affect stock returns systematically. This finding keeps its robustness when economic variables are added to the model.

  4. Financial statistics of major U.S. investor-owned electric utilities 1996

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-12-01

    The Financial Statistics of Major US Investor-Owned Electric Utilities publication presents summary and detailed financial accounting data on the investor-owned electric utilities. The objective of the publication is to provide Federal and State governments, industry, and the general public with current and historical data that can be used for making policy and decisions relating to investor-owned electric utility issues. The US electric power industry is a combination of electric utilities (investor-owned, publicly owned, Federal, and cooperatives) and nonutility power producers. Investor-owned electric utilities account for over three-fourths of electric sales and revenue. Historically, the investor-owned electric utilities have served the large consolidated markets. There is substantial diversity among the investor-owned electric utilities in terms of services, size, fuel usage, and prices charged. Most investor-owned electric utilities generate, transmit, and distribute electric power. Investor-owned electric utilities operate in all States except Nebraska; Hawaii is the only State in which all electricity is supplied by investor-owned electric utilities. 5 figs., 57 tabs.

  5. Conditional Betas and Investor Uncertainty

    OpenAIRE

    Fernando D. Chague

    2013-01-01

    We derive theoretical expressions for market betas from a rational expectation equilibrium model where the representative investor does not observe if the economy is in a recession or an expansion. Market betas in this economy are time-varying and related to investor uncertainty about the state of the economy. The dynamics of betas will also vary across assets according to the assets' cash-flow structure. In a calibration exercise, we show that value and growth firms have cash-flow structures...

  6. The dynamics of stock price and determination of investor's cash ...

    African Journals Online (AJOL)

    Our aim is to also determine investor's cash flows valuation generated from the investment. The investor invested her short position into N number of investment firms. The firms in turn invest the short position of the investor into the stock and bond markets in order to hedge out the risks associated with the investor's portfolio.

  7. Profit sharing between managers and investors: An experimental investigation

    Directory of Open Access Journals (Sweden)

    Belma Ozturkkal

    2015-06-01

    Full Text Available This study analyzes the effect of interest and power structures and conflict of interest among managers and investors and tests the effect of different payout mechanisms on willingness to pay. In this study 74 student subjects are involved in a setting where the manager is determining his own compensation. A series of experiments that vary managers' ability to determine their own compensation and investors' ability to punish inappropriate behavior are reported. The experiments involve pairs of subjects consisting of an investor and a manager with asymmetric decision making powers. When managers compensate themselves inappropriately, investors' recourse is to shun the company's shares—a model that arguably corresponds more closely to reality than the accepted efficient market traditional paradigm. The experiment shows that managers share profits even when investors cannot withhold investment and investors fairly compensate managers as well. This pattern explains both the ability of capital markets to function despite the presence of inherent moral hazard, and occasional managerial misbehavior.

  8. Stock portfolio structure of individual investors infers future trading behavior.

    Science.gov (United States)

    Bohlin, Ludvig; Rosvall, Martin

    2014-01-01

    Although the understanding of and motivation behind individual trading behavior is an important puzzle in finance, little is known about the connection between an investor's portfolio structure and her trading behavior in practice. In this paper, we investigate the relation between what stocks investors hold, and what stocks they buy, and show that investors with similar portfolio structures to a great extent trade in a similar way. With data from the central register of shareholdings in Sweden, we model the market in a similarity network, by considering investors as nodes, connected with links representing portfolio similarity. From the network, we find investor groups that not only identify different investment strategies, but also represent individual investors trading in a similar way. These findings suggest that the stock portfolios of investors hold meaningful information, which could be used to earn a better understanding of stock market dynamics.

  9. Stock portfolio structure of individual investors infers future trading behavior.

    Directory of Open Access Journals (Sweden)

    Ludvig Bohlin

    Full Text Available Although the understanding of and motivation behind individual trading behavior is an important puzzle in finance, little is known about the connection between an investor's portfolio structure and her trading behavior in practice. In this paper, we investigate the relation between what stocks investors hold, and what stocks they buy, and show that investors with similar portfolio structures to a great extent trade in a similar way. With data from the central register of shareholdings in Sweden, we model the market in a similarity network, by considering investors as nodes, connected with links representing portfolio similarity. From the network, we find investor groups that not only identify different investment strategies, but also represent individual investors trading in a similar way. These findings suggest that the stock portfolios of investors hold meaningful information, which could be used to earn a better understanding of stock market dynamics.

  10. Stock Portfolio Structure of Individual Investors Infers Future Trading Behavior

    Science.gov (United States)

    Bohlin, Ludvig; Rosvall, Martin

    2014-01-01

    Although the understanding of and motivation behind individual trading behavior is an important puzzle in finance, little is known about the connection between an investor's portfolio structure and her trading behavior in practice. In this paper, we investigate the relation between what stocks investors hold, and what stocks they buy, and show that investors with similar portfolio structures to a great extent trade in a similar way. With data from the central register of shareholdings in Sweden, we model the market in a similarity network, by considering investors as nodes, connected with links representing portfolio similarity. From the network, we find investor groups that not only identify different investment strategies, but also represent individual investors trading in a similar way. These findings suggest that the stock portfolios of investors hold meaningful information, which could be used to earn a better understanding of stock market dynamics. PMID:25068302

  11. Institutional investors: arbitrageurs or rational trend\\ud chasers?

    OpenAIRE

    Zeng, Yeqin

    2016-01-01

    This paper studies the relationship between institutional investor holdings and stock misvaluation in the U.S. between 1980 and 2010. I find that institutional investors overweigh overvalued and underweigh undervalued stocks in their portfolio, taking the market portfolio as a benchmark. Cross-sectionally, institutional investors hold more overvalued stocks than undervalued stocks. The time-series studies also show that institutional ownership of overvalued portfolios increases as the portfol...

  12. Obfuscation, Learning, and the Evolution of Investor Sophistication

    OpenAIRE

    Bruce Ian Carlin; Gustavo Manso

    2011-01-01

    Investor sophistication has lagged behind the growing complexity of retail financial markets. To explore this, we develop a dynamic model to study the interaction between obfuscation and investor sophistication in mutual fund markets. Taking into account different learning mechanisms within the investor population, we characterize the optimal timing of obfuscation for financial institutions who offer retail products. We show that educational initiatives that are directed to facilitate learnin...

  13. Gender and Equity: Experience of the Working Women's Forum, India.

    Science.gov (United States)

    Azad, Nandini

    1996-01-01

    Illustrates how poor women were able to move out of poverty and dehumanization through a process of mobilization and organization. The process was catalyzed by the intervention of a non-governmental organization, the Working Women's Forum. Outlines the Forum's program of economic, social, and technological empowerment. (MJP)

  14. The Asymmetric Predictive Effects of Investor Sentiment

    DEFF Research Database (Denmark)

    Lutz, Chandler

    investors only act as corrective force during certain time periods. We also show that our index predicts implied volatility, media pessimism, and mutual fund flows. Overall, our findings are consistent with both the theories and anecdotal accounts of investor sentiment in the stock market....

  15. The investor access to the presented financial reports

    OpenAIRE

    Mejzlik, Ladislav; Durianova, Gabriela; Velechovska, Lenka

    2011-01-01

    The paper deals with the investor and potential investor access to the presented financial information of the companies. The accesibility and reliatbility of the financial information is one of the essential aspects of investor decision making. The text treats with the possibilities of presenting financial statements with focus on the internet as suitable place which is used very often nowadays. Timeliness and the form of the financial report submitting is harmonized in t...

  16. Does Investors' Sophistication Affect Persistence and Pricing of Discretionary Accruals?

    OpenAIRE

    Lanfeng Kao

    2007-01-01

    This paper examines whether the sophistication of market investors influences management's strategy on discretionary accounting choice, and thus changes the persistence of discretionary accruals. The results show that the persistence of discretionary accruals for firms face with naive investors is lower than that for firms face with sophisticated investors. The results also demonstrate that sophisticated investors indeed incorporate the implications of current earnings components into future ...

  17. 76 FR 5307 - Net Worth Standard for Accredited Investors

    Science.gov (United States)

    2011-01-31

    ... affected investors who do not fund capital calls or otherwise reinvest in future rounds of financing. \\41...-3144; IC-29572; File No. S7-04-11] RIN 3235-AK90 Net Worth Standard for Accredited Investors AGENCY... accredited investor standards in our rules under the Securities Act of 1933 to reflect the requirements of...

  18. Proceedings of the business and investment forum 'renewable energy in Africa'. A Thermie and UNESCO action; Recueil des interventions du forum d'affaires 'energies renouvelables en Afrique'. Une action du programme Thermie et de l'Unesco

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-07-01

    One of the objectives of THERMIE (which is the demonstration component of the Research and Technological Development JOULE-THERMIE programme of the European community in non-nuclear energy technologies) is to promote co-operation in the field of renewable energy technologies between the European Union and African countries. The World Solar Programme 1996-2005 adopted during the Harare summit (September 96) organised by UNESCO in co-operation with the European Commission, recommends a wider use of renewable energy sources, through the implementation of national high priority projects. This Business and investment Forum is an integral part of the follow-up to the World Solar Summit. Following QUITO in September 98 and HARARE in March 99, similar events will be organised in other Regions, with an ADEME co-ordination. The Forum was specifically targeted at decision and policy-makers, local authorities, investors and international co-operation agencies, industrialists, institutional representatives and programme managers working in the field of Renewable Energy. One of the main goals of this Forum is to promote investments and financing opportunities for projects using efficient renewable energy technologies, for a sustainable development in Africa. (author)

  19. Outsourcing by Real Estate investors: chances for real estate managers?

    NARCIS (Netherlands)

    Janssen, I.I.; Smits, M.

    2008-01-01

    In the Netherlands outsourcing real estate management by institutional investors is not generally accepted. Since real estate investment became common use by institutional investors about 1960, investors started their own real estate management departments. Only property management regarding daily

  20. The Institutional Investors and Corporate Governance

    Directory of Open Access Journals (Sweden)

    Niculae Feleaga

    2006-12-01

    Full Text Available The years between 1990-2000 represented the rising power period for the institutional investors, especially within the developed countries. In the Anglo-Saxon environment, such a growth significantly modified the structure of companies’ shareholder frameworks. The development and the institutionalization of the stock exchange market determined the companies’ bonds to be more concentrated within the hands of the financial institutions, which have a superior economic expertise, rather than do the natural persons when saving. In order to diminish the informational lack of symmetry, between the company’s leaders and its shareholders, and for influencing the leaders in managing the enterprise – with the purpose of maximizing value – some institutional investors tried to implement an external control system. Therefore, they formulated new corporate governance procedures. The development of the institutional investors is part of a reform movement targeted towards the macro-financial environment. That is why, two important elements deserve to be mentioned: the households’ financial patrimonies and the structure of the financing frameworks. The institutional investors are essentially the mutual funds, the insurance companies and the pension funds, and therefore they manage considerable amounts of capital (in thousands of billions of dollars within the assembly of OCDE countries.

  1. The Institutional Investors and Corporate Governance

    Directory of Open Access Journals (Sweden)

    Niculae Feleaga

    2006-10-01

    Full Text Available The years between 1990-2000 represented the rising power period for the institutional investors, especially within the developed countries. In the Anglo-Saxon environment, such a growth significantly modified the structure of companies’ shareholder frameworks. The development and the institutionalization of the stock exchange market determined the companies’ bonds to be more concentrated within the hands of the financial institutions, which have a superior economic expertise, rather than do the natural persons when saving. In order to diminish the informational lack of symmetry, between the company’s leaders and its shareholders, and for influencing the leaders in managing the enterprise – with the purpose of maximizing value – some institutional investors tried to implement an external control system. Therefore, they formulated new corporate governance procedures. The development of the institutional investors is part of a reform movement targeted towards the macro-financial environment. That is why, two important elements deserve to be mentioned: the households’ financial patrimonies and the structure of the financing frameworks. The institutional investors are essentially the mutual funds, the insurance companies and the pension funds, and therefore they manage considerable amounts of capital (in thousands of billions of dollars within the assembly of OCDE countries.

  2. Experienced and Novice Investors

    DEFF Research Database (Denmark)

    Holm, Claus; Rikhardsson, Pall M.

    This paper examines the effect of environmental information on the investment decisions of investors. The motivation for the experimental design applied in this study is that unless actual decision making is observed, the potential usefulness of environmental information (or lack thereof) cannot...... be taken for granted. The study is based on an experiment where groups of investors (varied by experience) were asked to make investment allocation decisions based on financial information and on supplementary environmental information (varied between cases). As an investment allocation decision (varied...... by investment horizons) the groups were asked to allocate funds to two companies based on the available information. The findings suggest that environmental information has the potential to influence investment allocation decisions. The findings also suggest that the influence of environmental information...

  3. 12 CFR 630.40 - Contents of the quarterly report to investors.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Contents of the quarterly report to investors... INVESTORS IN SYSTEMWIDE AND CONSOLIDATED BANK DEBT OBLIGATIONS OF THE FARM CREDIT SYSTEM Quarterly Reports to Investors § 630.40 Contents of the quarterly report to investors. (a) General. The quarterly...

  4. Financial statistics of major investor-owned electric utilities, 1991

    International Nuclear Information System (INIS)

    1993-01-01

    The Financial Statistics of major Investor-Owned Electric Utilities publication presents summary and detailed financial accounting data on the investor-owned electric utilities. The objective of the publication is to provide Federal and State governments, industry, and the general public with current and historical data that can be used for policymaking and decisionmaking purposes related to investor-owned electric utility issues

  5. Financial statistics of selected investor-owned electric utilities, 1989

    Energy Technology Data Exchange (ETDEWEB)

    1991-01-01

    The Financial Statistics of Selected Investor-Owned Electric Utilities publication presents summary and detailed financial accounting data on the investor-owned electric utilities. The objective of the publication is to provide the Federal and State governments, industry, and the general public with current and historical data that can be used for policymaking and decisionmaking purposes related to investor-owned electric utility issues.

  6. Does investor ownership of nursing homes compromise the quality of care?

    Science.gov (United States)

    Harrington, C; Woolhandler, S; Mullan, J; Carrillo, H; Himmelstein, D U

    2001-09-01

    Two thirds of nursing homes are investor owned. This study examined whether investor ownership affects quality. We analyzed 1998 data from state inspections of 13,693 nursing facilities. We used a multivariate model and controlled for case mix, facility characteristics, and location. Investor-owned facilities averaged 5.89 deficiencies per home, 46.5% higher than nonprofit facilities and 43.0% higher than public facilities. In multivariate analysis, investor ownership predicted 0.679 additional deficiencies per home; chain ownership predicted an additional 0.633 deficiencies. Nurse staffing was lower at investor-owned nursing homes. Investor-owned nursing homes provide worse care and less nursing care than do not-for-profit or public homes.

  7. Regret Aversion Bias dan Risk Tolerance Investor Muda Jakarta dan Surabaya

    Directory of Open Access Journals (Sweden)

    Yohnson Yohnson

    2008-01-01

    Full Text Available Investment decision behavior is an interesting topic in finance research. Bailey and Kinerson’s (2005 research found that individual risk tolerance and experienced regret significantly influenced investment decisions. Anticipation of potential future regret did not predict subsequent investment decision behavior. Specifically, this research also wants to know the effects of a person’s experienced regret and anticipated regret or the effects of individual risk tolerance on investment decision behavior in Jakarta and Surabaya. Respondent of this research is 323 students from UK Petra who represent young investors from Surabaya and students from UPH who represent young investors from Jakarta. The method of research is experimental study and the design of research is 2x2x2 (between subject with experienced regret (time deposit and stock as first variable, anticipated regret (time deposit and stock as second variable and risk tolerance (high and low as third variable This study finds that an individual risk tolerance significantly influences decisions. Regret aversion bias does not influence young investors in Indonesia. (We assume that it is because the character of Indonesian investors is different from foreign investors. The couse of this is supposedly the unique characteristics of Indonesian investors and the different view points between Indonesian investors and investors from other countries. Abstract in Bahasa Indonesia: Perilaku keputusan investasi sangat menarik untuk diteliti. Dalam penelitian Bailey dan Kinerson (2005 ditemukan risk tolerance dan experienced regret mempengaruhi keputusan investasi. Anticipated regret tidak dapat dipakai sebagai predictor perilaku keputusan investasi. Penelitian ini juga ingin mengetahui experienced regret, anticipated regret atau risk tolerance yang lebih mempengaruhi perilaku keputusan investasi di Jakarta dan Surabaya. Responden yang diteliti sebesar 323 mahasiswa berasal dari UK Petra yang mewakili

  8. Inflation Hedging for Long-Term Investors

    OpenAIRE

    Shaun K. Roache; Alexander P. Attie

    2009-01-01

    Long-term investors face a common problem-how to maintain the purchasing power of their assets over time and achieve a level of real returns consistent with their investment objectives. While inflation-linked bonds and derivatives have been developed to hedge the effects of inflation, their limited supply and liquidity lead many investors to continue to rely on the indirect hedging properties of traditional asset classes. In this paper, we assess these properties over different time horizons,...

  9. Investigating Investment Preferences of Institutional Investors toward ISE Companies

    OpenAIRE

    Serkan Yilmaz Kandir

    2010-01-01

    Institutional investors may be defined as specialized financial institutions that manage savings collectively on behalf of small investors toward specific objectives. Aim of this study is to investigate the factors that affect investment preferences of institutional investors toward ISE companies. Empirical analysis is performed by employing cross-sectional regression model. In the regression model, estimated for the years, 2005, 2006 and 2007, institutional ownership in each company is used ...

  10. PREFACE: IV Nanotechnology International Forum (RUSNANOTECH 2011)

    Science.gov (United States)

    Dvurechenskii, Anatoly; Alfimov, Mikhail; Suzdalev, Igor; Osiko, Vyacheslav; Khokhlov, Aleksey; Son, Eduard; Skryabin, Konstantin; Petrov, Rem; Deev, Sergey

    2012-02-01

    Logo The RUSNANOTECH 2011 International Forum on Nanotechnology was held from 26-28 October 2011, in Moscow, Russia. It was the fourth forum organized by RUSNANO (Russian Corporation of Nanotechnologies) since 2008. In March 2011 RUSNANO was established as an open joint-stock company through the reorganization of the state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. Within the framework of the Forum Science and Technology Program, presentations on key trends of nanotechnology development were given by foreign and Russian scientists, R&D officers of leading international companies, universities and scientific centers. The science and technology program of the Forum was divided into four sections as follows (by following hyperlinks you may find each section's program including videos of all oral presentations): Nanoelectronics and Nanophotonics Nanomaterials Nanotechnology and Green Energy Nanotechnology in Healthcare and Pharma (United business and science & technology section on 'RUSNANOTECH 2011') The scientific program of the forum included more than 50 oral presentations by leading scientists from 15 countries. Among them were world-known specialists such as Professor S Bader (Argonne National Laboratory, USA), Professor O Farokzhad (Harvard Medical School, USA), Professor K Chien (Massachusetts General Hospital, USA), Professor L Liz-Marzan (University of Vigo), A Luque (Polytechnic University of Madrid) and many others. The poster session consisted of over 120 presentations, 90 of which were presented in the framework of the young scientists' nanotechnology papers competition. This volume of Journal of Physics: Conference Series includes a selection of 47 submissions. Section editors of the proceedings: Nanoelectronics and nanophotonics Corresponding Member of Russian Academy of

  11. Radiation protection forum

    International Nuclear Information System (INIS)

    Cabral, W.

    2010-01-01

    The National Director of the Nuclear Regulatory Authority and Radiation Protection of Uruguay in the first forum for radiation protection set out the following themes: activity of regulatory body, radiation safety, physical security, safeguards, legal framework, committed substantive program, use of radiation, risks and benefits, major sources of radiation, the national regulatory framework, national inventory of sources, inspections, licensing, import and export of sources control , radioactive transport, materials safety, agreements, information and teaching, radiological emergencies and prompt response.

  12. Do investors become risk takers after receiving MLA and accounting information?

    Directory of Open Access Journals (Sweden)

    Ni Made Wisni Arie Pramuki

    2016-11-01

    Full Text Available This study aimed to find out, empirically, the effect of myopic loss aversion and accounting information on the behavior of investors. The method used is pure experiment by using a 2×2 factorial design between subjects. The results show that myopic loss aversion and accounting information positively affects investor behavior. Another result reveals that there is a difference in treatment (frequent and infrequent that was equally given accounting information. There is a difference of treatment (frequent and infrequent that was not given accounting information, but the results return obtained by investors with the treatment of frequent is higher than investors with the treatment of infrequent, it indicates that investors that were treated frequently to be more willing to take a risk, and investors proved not to experience MLA. It was not found the difference in treatment (frequent and infrequent with accounting information with those that were not given accounting information. It can be caused by a lack of understanding of investors (in this case by the students in interpreting and analyzing accounting information as well as private signals that still dominate the investors.

  13. Do Convertible Bond Issuers Cater to Investor Demand?

    NARCIS (Netherlands)

    de Jong, Abe; Duca, Eric; Dutordoir, Marie

    2013-01-01

    We examine the impact of fluctuations in investor demand for convertible securities on convertible bond issue volumes, pricing, and design. We find evidence of a positive impact of investor demand proxies on convertible bond issue volumes. We also document significantly lower convertible bond

  14. 16 CFR 802.64 - Acquisitions of voting securities by certain institutional investors.

    Science.gov (United States)

    2010-01-01

    ... institutional investors. 802.64 Section 802.64 Commercial Practices FEDERAL TRADE COMMISSION RULES, REGULATIONS... § 802.64 Acquisitions of voting securities by certain institutional investors. (a) Institutional investor. For purposes of this section, the term institutional investor means any entity of the following...

  15. Asset Allocation of Mutual Fund Investors

    OpenAIRE

    Dengpan Luo

    2003-01-01

    This paper studies mutual fund investors' asset allocation decisions using monthly flow data of U.S mutual fund industry from 1984 to 1998. We find that mutual fund investors change their asset allocations between stocks and bonds in reaction to business conditions tracked by changes in expected stock market returns. They tend to allocate less into stock funds during the trough of a business cycle when expected stock market returns are higher and to allocate more into stock funds during the p...

  16. A Study of the Relationships among Learning Styles, Participation Types, and Performance in Programming Language Learning Supported by Online Forums

    Science.gov (United States)

    Shaw, Ruey-Shiang

    2012-01-01

    This study is focused on the relationships among learning styles, participation types, and learning performance for programming language learning supported by an online forum. Kolb's learning style inventory was used in this study to determine a learner's learning type: "Diverger", "Assimilator", "Converger", and "Accommodator". Social Learning…

  17. Lacking Community Out-Reach of Chinese Mining Investors in the Arctic

    DEFF Research Database (Denmark)

    Zeuthen, Jesper Willaing

    Lacking Community Out-Reach of Chinese Mining Investors in the Arctic Despite China’s bad reputation as a mining investor, in a context of dramatically falling mineral prices, Chinese investments seem to be needed in order to realize most new mining projects across the globe. In Greenland...... and Arctic Canada, potential Chinese investors have been met with even more suspicion than elsewhere. National governments are worried about what state owned Chinese investors will mean for their control over national resources while local governments and the public fear what Chinese investors will mean...... for labour conditions and local environment. They fear a lack of social corporate responsibility (CSR) from Chinese investors. This paper assumes that the possible interest in Arctic mineral resources by the Chinese state combined with a strong demand from Greenland and Canada would make the Arctic a most...

  18. Quantifying the effect of investors' attention on stock market.

    Directory of Open Access Journals (Sweden)

    Zhen-Hua Yang

    Full Text Available The investors' attention has been extensively used to predict the stock market. Different from existing proxies of the investors' attention, such as the Google trends, Baidu index (BI, we argue the collective attention from the stock trading platforms could reflect the investors' attention more closely. By calculated the increments of the attention volume for each stock (IAVS from the stock trading platforms, we investigate the effect of investors' attention measured by the IAVS on the movement of the stock market. The experimental results for Chinese Securities Index 100 (CSI100 show that the BI is significantly correlated with the returns of CSI100 at 1% significance level only in 2014. However, it should be emphasized that the correlation of the new proposed measure, namely IAVS, is significantly at 1% significance level in 2014 and 2015. It shows that the effect of the measure IAVS on the movement of the stock market is more stable and significant than BI. This study yields important invest implications and better understanding of collective investors' attention.

  19. Quantifying the effect of investors' attention on stock market.

    Science.gov (United States)

    Yang, Zhen-Hua; Liu, Jian-Guo; Yu, Chang-Rui; Han, Jing-Ti

    2017-01-01

    The investors' attention has been extensively used to predict the stock market. Different from existing proxies of the investors' attention, such as the Google trends, Baidu index (BI), we argue the collective attention from the stock trading platforms could reflect the investors' attention more closely. By calculated the increments of the attention volume for each stock (IAVS) from the stock trading platforms, we investigate the effect of investors' attention measured by the IAVS on the movement of the stock market. The experimental results for Chinese Securities Index 100 (CSI100) show that the BI is significantly correlated with the returns of CSI100 at 1% significance level only in 2014. However, it should be emphasized that the correlation of the new proposed measure, namely IAVS, is significantly at 1% significance level in 2014 and 2015. It shows that the effect of the measure IAVS on the movement of the stock market is more stable and significant than BI. This study yields important invest implications and better understanding of collective investors' attention.

  20. Research of the Stock Price Overreaction and Investor Overconfidence Issues

    Directory of Open Access Journals (Sweden)

    Bayu Raharja

    2017-06-01

    Full Text Available This research examines the existing of investor overconfidence in the capital market and the phenomena of stock prices reversal in the future due to the existing of this behavior. It has a different approach to test the existing of investor overconfidence by introducing firm’s growth as the information which has triggered many investors to behave overconfidently. By using multiple regression analysis, the results of this research confirmed our conducted hypothesis, investor tends to behave overconfident to firms which have higher growth. It proofed by the positive relation between firms’ growth and trading volume. Afterward, this research also found that higher growth firms tend to have declining on its performance in the future. The negative relation between firms’ growth and longterm performance means that the stock’s price reversal caused by the existing of investor overconfidence.

  1. Forum-ing: Signature practice for public theological discourse ...

    African Journals Online (AJOL)

    The forum meets every Monday morning, except when there is a national holiday. It has operated 30 consecutive years. The forum has a series of presentations, including the opening prayer, self-introductions of each person, a report of the executive director, special presentations from selected community groups, reports, ...

  2. A Decision Support Tool For Thrift Savings Plan Investors

    National Research Council Canada - National Science Library

    Blanchette, Christopher

    2004-01-01

    .... These funds give investors the opportunity to diversify among a wide range of securities. This thesis examines the funds offered by the plan and creates a portfolio selection tool that uses investor inputs...

  3. Financial statistics of major US investor-owned electric utilities 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-12-01

    The Financial Statistics of Major U.S. Investor-Owned Electric Utilities publication presents summary and detailed financial accounting data on the investor-owned electric utilities. The objective of the publication is to provide Federal and State Governments, industry, and the general public with current and historical data that can be used for making policy and decisions relating to investor-owned electric utility issues.

  4. Dynamics of Investor Attention on the Social Web

    Science.gov (United States)

    Li, Xian

    2013-01-01

    The World Wide Web has been revolutionizing how investors produce and consume information while participating in financial markets. Both the amount of information and the speed it flows around have achieved unprecedented magnitudes. The preeminent change is the growth of investor communities on the social web, which give rise to multidimensional…

  5. The decision making on mutual investment of thai investors ...

    African Journals Online (AJOL)

    The decision making on mutual investment of thai investors. ... Journal of Fundamental and Applied Sciences. Journal Home ... The study was a research survey that used questionnaires to collect data from 400 samples of Thai investors.

  6. Do anchor investors create value for initial public offerings? An empirical investigation

    Directory of Open Access Journals (Sweden)

    Seshadev Sahoo

    2017-12-01

    Full Text Available The concept of anchor investors was introduced by the market regulator, Securities Exchange Board of India (SEBI, to bring transparency in the book building mechanism. We examine anchor investors' investment in initial public offerings (IPOs to determine how they create value for issuing firms and participating investors. Using a database of 135 IPOs issued in the Indian market through book building mechanism during 2009–2014, we find that anchor investors' investment in IPOs reduces underpricing. Larger subscription from retail investors for anchor-supported IPOs indicates that anchor investors' participation is viewed as a credible attestation of quality of the issue. We document that anchor-supported IPOs are more liquid and less volatile in the short run. We also find that by controlling for other factors such as offer size, subscription rate and age of the firm, a part of the underpricing is reduced by anchor investors.

  7. Geopressure industrial forums, newsletter and lease support. Final report, April 7, 1981-December 31, 1983

    Energy Technology Data Exchange (ETDEWEB)

    Knutson, C.F.

    1983-12-01

    In the course of this contract C. K. GeoEnergy: (1) planned, organized, conducted, and reported on six DOE/Industry Forum meetings where the progress of DOE's resource development program was outlined and discussed (these six forum meetings included three meetings of the Drilling and Testing Subgroup and three meetings of the Overview Group), (2) prepared and distributed 15 newsletters, and (3) prepared three reports for DOE lease support. This final report includes summaries of each of the forum meetings as well as the three lease support meetings and the newsletter program.

  8. Buying and Selling Behavior of Individual Investors in Option-like Securities

    OpenAIRE

    Schmitz, Philipp; Weber, Martin

    2007-01-01

    We analyze the trading behavior of individual investors in option-like securities, namely bank-issued warrants, and thus expand the growing literature of investors behavior to a new kind of securities. A unique data set from a large German discount broker gives us the opportunity to analyze the trading behavior of 1,454 investors, making 89,958 transactions in 6,724 warrants on 397 underlyings. In different logit regression, we make use of the facts that investors can speculate on rising and ...

  9. STRATEGI KEBIJAKAN PERLINDUNGAN INVESTOR LOKAL DALAM ARUS BEBAS ASEAN ECONOMIC COMMUNITY

    Directory of Open Access Journals (Sweden)

    Mukti Fajar Nur Dewata

    2015-08-01

    Full Text Available ASEAN countries will enter the era of free trade through the agreement of Asean Economic Community Blueprint. This agreement will open the free flow of trade in goods, services, investment, capital and skilled labor. Regarding the investment, in particularly, all countries will apply the principles of the National Treatment and Most Favoured Nation. It means that all countries will give equal treatment between foreign investors and local investors. This poses a problem for Indonesian government on policy strategies to provide protection for local investors. This paper will use the normative juridical method for the discussion. However, to complete the analysis, empirical facts will also be carried to sharpen the argument. Based on the normative analysis, the result showed that Indonesian government has taken various strategies throughout legal instruments related to the investment law. Local investor protection is conducted by providing limits to the field of businesses, investment and divestment requirements for foreign investors.Keywords : policy strategies, asean economic community, local investor protection

  10. Forum-ing: Signature practice for public theological discourse

    Directory of Open Access Journals (Sweden)

    Edward P. Wimberly

    2014-05-01

    Full Text Available This article introduces a unique model for public theological conversation and discourse, which was developed by the Concerned Black Clergy of Atlanta (CBC. It was a model developed in response to the problems of poverty, homelessness, and the ‘missing and murdered children’ victimised in Atlanta, Georgia in the United States of America in the early 1980s. It was originally organised to respond to the economic, financial, spiritual, emotional, employment, housing and resource needs of the underserved poor. This unique practice is called forum-ing. The forum meets every Monday morning, except when there is a national holiday. It has operated 30 consecutive years. The forum has a series of presentations, including the opening prayer, self-introductions of each person, a report of the executive director, special presentations from selected community groups, reports, and then questions and answers. The end result is that those attending engage in a process of discourse that enables them to internalise new ideas, approaches, and activities for addressing poverty and injustice in the community. Key to forum-ing for the 21st century is that it is a form of public practical theology rooted and grounded in non-violence growing out of the civil rights movement of the 1950s and 1960s in the United States. The overall purpose of this article is to contribute to the effort of the Faculty of Theology at the University of Pretoria (South Africa to identify those variables that will assist religious leaders in South Africa to develop public conversational spaces to enhance democratic participation. This article presents one model from the African American community in Atlanta, Georgia. The hope is to lift up key variables that might assist in the practical and pastoral theological conversation taking place in South Africa at present.

  11. Value of Recommendation Systems for Online Investors

    OpenAIRE

    Rustam Vahidov; Raafat Saade; Ahmed Eldiwany

    2012-01-01

    Internet allows investors to use friendly tools which help them to make and implement their investment choices in an online environment. Individuals can have access to volumes of information related to alternative financial instruments and craft their strategies according to their needs and preferences. However, in the presence of multiple choices, investors with limited experience and knowledge may need support in making adequate decisions. Recommendations systems have been used in e-commerc...

  12. Nuclear power and investor perceptions of risk

    International Nuclear Information System (INIS)

    Kahal, M.I.; Miller, R.E.

    1984-01-01

    This paper explores and quantifies the recent Wall Street fears concerning nuclear utilities. An econometric model of investor behavior is presented that quantifies the nuclear risk premium for the period when nuclear fear among investors was at its height, in mid-1984. The principal finding is that the risk premium relates primarily to nuclear construction work in progress (CWIP), rather than to the commercial operation of completed nuclear plants. 7 references, 1 table

  13. Investors Assessment of the Credibility of Management Disclosures ...

    African Journals Online (AJOL)

    The objective of this study, is to examine the issue of the assessment of the credibility of management disclosures about a company from the perspective of the investors. It presents the results from a questionnaire survey of a sample of financial Analysts, accountants and other investor. The data were analyzed using the one ...

  14. The forum as a friend: parental mental illness and communication on open Internet forums.

    Science.gov (United States)

    Widemalm, My; Hjärthag, Fredrik

    2015-10-01

    The aim of this study was to identify how daughters or sons to parents suffering from mental illness perceive their situation. The objective was to provide new knowledge based on what they communicate on open Internet forums. The sample consisted of forum posts written by individuals who reported that they had mentally ill parents. Data collection comprised 301 comments from 35 forum threads on 5 different Swedish Internet forums, and predetermined inclusion criteria were used. Data were analyzed qualitatively using thematic analysis. The analysis generated four themes: "Caregiver burden," "Knowledge seeking," "Support from the forum," and "Frustration and powerlessness over health care." The results showed that parents' mental illness affected the forum writers on several levels, and they often felt stigmatized. The writers often lacked knowledge of their parents' mental illness and sought out Internet forums for information and support from peers in similar situations. The psychiatric care given to the parents was a source of dissatisfaction among the forum writers, who often felt that their parents did not receive adequate care. This study shows that fear of stigmatization and perceived lack of care and support caused forum writers to anonymously seek out Internet forums for information and support from others with similar experiences. The role of social support and the attractiveness of anonymity and availability typical for open Internet forums ought to be considered by health care professionals and researchers when developing new ways for providing support for children or adolescents with a mentally ill parent.

  15. 77 FR 58873 - Financial Investors Trust, et al.; Notice of Application

    Science.gov (United States)

    2012-09-24

    ...] Financial Investors Trust, et al.; Notice of Application September 18, 2012. AGENCY: Securities and Exchange... 12d1-2 under the Act to invest in certain financial instruments. APPLICANTS: Financial Investors Trust...(d)(1) if the exemption is consistent with the public interest and the protection of investors...

  16. 12 CFR 630.3 - Publishing and filing the report to investors.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Publishing and filing the report to investors... Publishing and filing the report to investors. (a) The disclosure entities shall jointly publish the... material changes in information occurring since the most recently published report to investors. (b) Each...

  17. Relationship marketing's role in managing the firm-investor dyad

    NARCIS (Netherlands)

    Hoffmann, A.O.I.; Pennings, J.M.E.; Wies, S.

    2011-01-01

    This paper develops an interdisciplinary conceptual framework demonstrating the role of marketing in managing investor relationships. The framework illustrates how companies can turn investor relationships into market-based assets by analyzing and managing them from a relationship marketing and

  18. Long memory of abnormal investor attention and the cross-correlations between abnormal investor attention and trading volume, volatility respectively

    Science.gov (United States)

    Fan, Xiaoqian; Yuan, Ying; Zhuang, Xintian; Jin, Xiu

    2017-03-01

    Taking Baidu Index as a proxy for abnormal investor attention (AIA), the long memory property in the AIA of Shanghai Stock Exchange (SSE) 50 Index component stocks was empirically investigated using detrended fluctuation analysis (DFA) method. The results show that abnormal investor attention is power-law correlated with Hurst exponents between 0.64 and 0.98. Furthermore, the cross-correlations between abnormal investor attention and trading volume, volatility respectively are studied using detrended cross-correlation analysis (DCCA) and the DCCA cross-correlation coefficient (ρDCCA). The results suggest that there are positive correlations between AIA and trading volume, volatility respectively. In addition, the correlations for trading volume are in general higher than the ones for volatility. By carrying on rescaled range analysis (R/S) and rolling windows analysis, we find that the results mentioned above are effective and significant.

  19. Trading Behavior of Foreign Vis a Vis Local Investors in The Indonesian Stock Market

    Directory of Open Access Journals (Sweden)

    Soemarso Slamet Rahardjo

    2015-04-01

    Full Text Available This paper studies the behavior of foreign, local investors and total market in a stock trading. The analysis is focused on their implementation of positive feedback strategy, the existence of mean reverting process and their sensitivity toward expected capital gain and losses. The result reveals that both of these two investors apply the positive feedback strategy, at a different degree. The investment horizon of the foreign investors is shorter than the local investors. There is a mean reverting pattern in the price volatilities. The convergence period for local investor is 2.4. The market needs 1.8 month. No convergence period for foreign investors. The local investors and total market are neutral toward expected gain and losses. The foreign investors are more sensitive to capital loss. Previous price and volume changes have a leverage effect to the current demand of foreign investors. The local investors are affected by changes in price only.

  20. The Investors- Reaction to Investment Rating Change Announcements

    OpenAIRE

    Chih-Hsiang Chang; Liang-Chien Lee; Shu-Ling Wu

    2012-01-01

    This study investigates the investors- behavioral reaction to the investment rating change announcements from the views of behavioral finance. The empirical results indicate that self-interest does affect the intention of securities firms to release investment ratings for individual stocks. In addition, behavioral pitfalls are also found in the response of retail investors to investment rating change announcements.

  1. Danish farmers and investors

    DEFF Research Database (Denmark)

    Hajderllari, Luljeta; Karantininis, Konstantinos; Bonnichsen, Ole

    The purpose of this paper is to provide some evidence on the push and pull factors that motivate farmers to expand across their home countries’ borders. The focus is on Danish expansion farmers and investor farmers setting up activities in Central and Eastern European countries like Slovakia...

  2. A report on the climate change and investment risk workshop : best practices for Canadian pension funds and institutional investors

    International Nuclear Information System (INIS)

    Boshyk, A.

    2004-01-01

    Investors realize that the value of investment portfolios can be influenced by environmental risks such as climate change. This report is intended to raise awareness within the financial community of climate change risk, and to encourage greater corporate disclosure on climate change. It presents recommended best practices from the Social Investment Organization (SIO) regarding pension funds and other institutional investors for assessing and managing climate change risk. In 2003, 87 institutional investors handling $9 trillion, asked the 500 largest publicly traded companies in the world to disclose investment-relevant information concerning their greenhouse gas emissions. Nearly 800 organizations in all sectors of the Canadian economy have launched voluntary action plans to reduce greenhouse gas emissions. The SIO recommends that Canadian institutional investors should sign the Carbon Disclosure Project, a mechanism designed to obtain carbon risk data from the largest companies in the world. Mandatory disclosure programs have been a successful tool in promoting sustainable development. 37 refs

  3. The Impact of Conventional and Unconventional Monetary Policy on Investor Sentiment

    DEFF Research Database (Denmark)

    Lutz, Chandler

    2015-01-01

    This paper examines the relationship between monetary policy and investor sentiment across conventional and unconventional monetary policy regimes. During conventional times, we find that a surprise decrease in the fed funds rate leads to a large increase in investor sentiment. Similarly, when...... the fed funds rate is at its zero lower bound, research results indicate that expansionary unconventional monetary policy shocks also have a large and positive impact on investor mood. Together, our findings highlight the importance of both conventional and unconventional monetary policy...... in the determination of investor sentiment....

  4. PERILAKU INVESTOR INDIVIDU DALAM PEMBUATAN KEPUTUSAN INVESTASI SAHAM: EFEK DISPOSISI DAN INFORMASI AKUNTANSI

    Directory of Open Access Journals (Sweden)

    Elizabeth Lucky Maretha Sitinjak

    2015-04-01

    Full Text Available Tujuan dari penelitian ini adalah untuk mengetahui pengaruh efek disposisi, pengaruh interaksi efek disposisi dengan perlakuan informasi akuntansi untuk pengambilan keputusan investasi di pasar saham. Dalam rangka untuk lebih mengetahui perbedaan antara perilaku pria dan wanita dalam mengambil keputusan untuk berinvestasi di pasar saham. Metode penelitian ini menggunakan kuasi experimental 2x2 Acak Blok ( RB - 22 ANOVA dan ANCOVA Within - Subject. Desain blok terbentuk dari banyak frekuensi perdagangan saham simulasi menggunakan program perdagangan kebajikan. Blok transaksi yang paling banyak di blok 1 dan paling sedikit melakukan transaksi di blok 4. Populasi investor individu domestik dan subyek eksperimen terdiri dari 120 investor individu, 70 dari Jakarta, 33 dari Semarang, dan 17 dari Yogyakarta. Quasi eksperimen dilakukan selama 45 menit. Penelitian menunjukkan ada efek disposisi sebelum dan sesudah perlakuan informasi akuntansi. Ada kecenderungan untuk menjual saham winner lebih cepat daripada saham losser. The purpose of this study was to investigate the influence of the disposition effect, the interaction effect of the disposition effect with treatment of accounting information for investment decision in the stock market. In order to better know the difference between the behavior of men and women in making decisions to invest in the stock market. This research method using a quasi-experimental 2x2 Randomized Block (RB-22 ANOVA and ANCOVA Within-Subject Design. Block design is formed of many frequencies simulated stock trading using virtue trade program. Block most frequent transactions in block 1 and block are seldom undertakes transactions on block 4. The population of domestic individual investors and quasi experimental subjects consisted of 120 individual investors, 70 from Jakarta, 33 from Semarang, and 17 from Yogyakarta. The total time is 45 minutes quasi experiment.The results of this research showed there is a disposition

  5. Practice financing strategies should match investors' objectives.

    Science.gov (United States)

    Messinger, S F; Stevenson, P B

    1999-05-01

    To successfully obtain capital financing, a group practice should develop a business plan that is tailored to the needs and objectives of the targeted investors. When evaluating possible funding sources, healthcare financial managers need to consider the group practice's growth objectives, geographic scope, intended use of the funding, and cash-flow potential and/or assets. Potential capital sources include internal funding; investments by healthcare organizations, health plans, private investors, and venture capitalists; borrowing from lenders; and public offerings.

  6. Between two evils: Investors prefer grand corruption!

    OpenAIRE

    Graf Lambsdorff, Johann

    2005-01-01

    Recent empirical studies claim that, in addition to levels of corruption, investors are deterred by its unpredictability. I claim instead that it is petty corruption that deters investors. I employ seven subcomponents of corruption for a sample of 102 countries that appear in the 2003 Global Competitiveness Report of the WEF. The second principal component of this data depicts a grand, political type, embracing corruption in government policymaking and in judicial decisions as opposed to corr...

  7. Does investor-ownership of nursing homes compromise the quality of care?

    Science.gov (United States)

    Harrington, Charlene; Woolhandler, Steffie; Mullan, Joseph; Carrillo, Helen; Himmelstein, David U

    2002-01-01

    Quality problems have long plagued the nursing home industry. While two-thirds of U.S. nursing homes are investor-owned, few studies have examined the impact of investor-ownership on the quality of care. The authors analyzed 1998 data from inspections of 13,693 nursing facilities representing virtually all U.S. nursing homes. They grouped deficiency citations issued by inspectors into three categories ("quality of care," "quality of life," and "other") and compared deficiency rates in investor-owned, nonprofit, and public nursing homes. A multivariate model was used to control for case mix, percentage of residents covered by Medicaid, whether the facility was hospital-based, whether it was a skilled nursing facility for Medicare only, chain ownership, and location by state. The study also assessed nurse staffing. The authors found that investor-owned nursing homes provide worse care and less nursing care than nonprofit or public homes. Investor-owned facilities averaged 5.89 deficiencies per home, 46.5 percent higher than nonprofit and 43.0 percent higher than public facilities, and also had more of each category of deficiency. In the multivariate analysis, investor-ownership predicted 0.679 additional deficiencies per home; chain-ownership predicted an additional 0.633 deficiencies per home. Nurse staffing ratios were markedly lower at investor-owned homes.

  8. ROMANIAN INVESTORS PORTFOLIO. ONLINE VERSUS ASSISTED TRADING

    Directory of Open Access Journals (Sweden)

    Ioana Ancuţa IANCU

    2017-05-01

    Full Text Available One of the most important aspects in deciding to trade online, alone, without the help of a broker, is the portfolio profitability. In this study, using the personal experience, survey data and secondary sources, we identify some factors that may influence the gain and the loss of investors which trade online. Our study contradicts other results from literature that claim that the transition from assisted to online trading is a big drawback in terms of portfolio profitability. By analyzing the performance of the portfolio when passing from assisted to online trading, we observe that half of the investors achieved identical profitability. We also observed that the efficiency of the portfolios belonging to the online investors that were assisted in the past by a broker for a short period, is lower compared to the ones assisted (in the past for a longer period.

  9. Individual Investor Perceptions and Behavior During the Financial Crisis

    NARCIS (Netherlands)

    Hoffmann, A.O.I.; Post, T.; Pennings, J.M.E.

    2013-01-01

    Combining monthly survey data with matching trading records, we examine how individual investor perceptions change and drive trading and risk-taking behavior during the 2008–2009 financial crisis. We find that investor perceptions fluctuate significantly during the crisis, with risk tolerance and

  10. Morocco calls for investors

    International Nuclear Information System (INIS)

    Rigaud, Ch.

    2011-01-01

    Morocco imported more than 96% of its energy between 2002 and 2009. Moreover the economic and social development of the country requires important energy needs that will grow by 5% a year. The Morocco government has launched an ambitious plan for developing renewable energies that aims at trebling its today's production of electricity by 2020. 2000 MW of solar energy will be installed on 5 sites and at least 2000 MW of wind energy will also be installed. Morocco's potential for wind energy is assessed to reach 25000 MW. The investment for the solar program will reach 6.5*10 9 euros. The aim of the energy policy is also to create jobs and develop local skills for manufacturing components of wind turbines and solar panels. The idea is that investors produce in Morocco for the local energy market and for export to African countries. Exports of renewable energy toward Europe will also be possible as Morocco is the only Arab country to be connected on the European frequency. A third submarine power cable between Morocco and Europe is being installed. (A.C.)

  11. On the behavior of mutual fund investors and managers

    NARCIS (Netherlands)

    Goriaev, A.P.

    2002-01-01

    This thesis investigates empirically and theoretically the behavior of mutual fund investors and managers. These two aspects are closely related to each other. Investors try to select funds that follow an optimal investment policy from their point of view, while fund managers are typically

  12. Financial characteristics of hospitals purchased by investor-owned chains.

    Science.gov (United States)

    McCue, M J; Furst, R W

    1986-01-01

    This article focuses on the preacquisition financial condition of not-for-profit hospitals acquired by investor-owned hospital chains. Financial ratios are used to determine if not-for-profit hospitals acquired by investor-owned hospital systems have common financial characteristics which make them a likely target for a takeover. The results indicate that during the time period studied, investor-owned hospital systems did tend to purchase hospitals with common financial characteristics and that these characteristics provide a reasonable description of a financially distressed hospital. This finding has important consequences for our health care delivery system. PMID:3771232

  13. What types of investors generate the two-phase phenomenon?

    Science.gov (United States)

    Ryu, Doojin

    2013-12-01

    We examine the two-phase phenomenon described by Plerou, Gopikrishnan, and Stanley (2003) [1] in the KOSPI 200 options market, one of the most liquid options markets in the world. By analysing a unique intraday dataset that contains information about investor type for each trade and quote, we find that the two-phase phenomenon is generated primarily by domestic individual investors, who are generally considered to be uninformed and noisy traders. In contrast, our empirical results indicate that trades by foreign institutions, who are generally considered informed and sophisticated investors, do not exhibit two-phase behaviour.

  14. Internet Forums for Suicide Bereavement.

    Science.gov (United States)

    Bailey, Eleanor; Krysinska, Karolina; O'Dea, Bridianne; Robinson, Jo

    2017-11-01

    Bereavement by suicide is associated with a number of consequences including poor mental health outcomes and increased suicide risk. Despite this, the bereaved by suicide may be reluctant to seek help from friends, family, and professionals. Internet forums and social networking sites are a popular avenue of support for the bereaved, but to date there is a lack of research into their use and efficacy. To survey users of suicide bereavement Internet forums and Facebook groups regarding their help-seeking behaviors, use of forums, and perceived benefits and limitations of such use. This study employed a cross-sectional design in which users of suicide bereavement Internet forums and Facebook groups completed an anonymous online survey. Participants were 222 users of suicide bereavement Internet forums. Most participants (93.2%) had sought face-to-face help from sources other than Internet forums, but were more likely to seek help in the near future from informal rather than formal sources. Forums were perceived as highly beneficial and there were few limitations. The generalizability of these results to other internet forums may be limited. Additionally, we were not able to examine differences between forums in terms of quality or user-reported efficacy. Finally, the data reflects the subjective views of forum users, which may differ from the views of moderators or experts. Internet forums, including Facebook groups, appear to be a useful adjunct to face-to-face help-seeking for supporting those who have been bereaved by suicide.

  15. Critical Issues Forum: A multidisciplinary educational program integrating computer technology

    Energy Technology Data Exchange (ETDEWEB)

    Alexander, R.J.; Robertson, B.; Jacobs, D. [Los Alamos National Lab., NM (United States)

    1998-09-01

    The Critical Issues Forum (CIF) funded by the US Department of Energy is a collaborative effort between the Science Education Team of Los Alamos National Laboratory (LANL) and New Mexico high schools to improve science education throughout the state of New Mexico as well as nationally. By creating an education relationship between the LANL with its unique scientific resources and New Mexico high schools, students and teachers participate in programs that increase not only their science content knowledge but also their critical thinking and problem-solving skills. The CIF program focuses on current, globally oriented topics crucial to the security of not only the US but to that of all nations. The CIF is an academic-year program that involves both teachers and students in the process of seeking solutions for real world concerns. Built around issues tied to LANL`s mission, participating students and teachers are asked to critically investigate and examine the interactions among the political, social, economic, and scientific domains while considering diversity issues that include geopolitical entities and cultural and ethnic groupings. Participants are expected to collaborate through telecommunications during the research phase and participate in a culminating multimedia activity, where they produce and deliver recommendations for the current issues being studied. The CIF was evaluated and found to be an effective approach for teacher professional training, especially in the development of skills for critical thinking and questioning. The CIF contributed to students` ability to integrate diverse disciplinary content about science-related topics and supported teachers in facilitating the understanding of their students using the CIF approach. Networking technology in CIF has been used as an information repository, resource delivery mechanism, and communication medium.

  16. 77 FR 3294 - Comment Request for Study Regarding Financial Literacy Among Investors

    Science.gov (United States)

    2012-01-23

    ... Study Regarding Financial Literacy Among Investors AGENCY: Securities and Exchange Commission. ACTION: Request for comment. SUMMARY: In connection with a study regarding financial literacy among investors as...: methods to improve the timing, content, and format of disclosures to investors with respect to financial...

  17. Financial statistics of major U.S. investor-owned electric utilities 1993

    Energy Technology Data Exchange (ETDEWEB)

    1995-01-01

    The Financial Statistics of Major US Investor-Owned Electric Utilities publication presents summary and detailed financial accounting data on the investor-owned electric utilities. The objective of the publication is to provide Federal and State governments, industry, and the general public with current and historical data that can be used for policymaking and decisionmaking purposes related to investor-owned electric utility issues.

  18. The familiar versus the unfamiliar: Familiarity bias amongst individual investors

    Directory of Open Access Journals (Sweden)

    Annalien De Vries

    2017-02-01

    Full Text Available Purpose: The purpose of this study was to investigate the existence of familiarity bias amongst individual investors in the South African stock market. Problem investigated: According to Warren Buffet, one needs to maintain emotional detachment if one wants to be a successful investor. However, recent research indicates that the perceptions of companies’ products and brands may influence individuals’ investment decisions in the stock market. This phenomenon implies that the investment decisions of individual investors are not purely based on firm fundamentals as suggested by traditional finance theories, but might be driven partly by the positive or negative attitude they have towards certain companies’ products and brands. The existence of familiarity bias amongst individual investors was investigated to determine if individuals prefer to invest in companies they are familiar with as opposed to unfamiliar companies. Methodology: A quantitative approach was followed. An online survey was used to show images of familiar and unfamiliar company brands to respondents, whereafter respondents were asked to indicate whether they will invest in the shares of the identified companies. The statistical analysis entailed descriptive statistics as well as one-way analyses of variance to test the stated hypotheses. Main findings: The results of this exploratory study indicate that investors do exhibit familiarity bias when choosing between different companies to invest in. Value of the research: The inclination of individual investors to invest in familiar corporate brands can have implications for the marketing industry, financial markets, the performance of companies as well as the investment performance of individual investors in the sense that it would seem that company brands could have an influence on investment decisions.

  19. The Information Seeking and Use Behaviors of Retired Investors

    Science.gov (United States)

    O'Connor, Lisa G.

    2013-01-01

    This exploratory study examines the information seeking and use behaviors of a group of US retired or near-retirement investors from everyday life information seeking and serious leisure perspectives. Although primarily qualitative, it also collects and analyzes quantitative data to describe retired investors' information preferences and use.…

  20. Investor perception towards small medium enterprises investment in Africa

    NARCIS (Netherlands)

    Aboah, J.; White, B.; Meuwissen, M.P.M.

    2015-01-01

    This study seeks to examine investor perceptions towards investing in SMEs in Africa. Data was collected via an online survey sent to investors on the Venture Capital for Africa (VC4Africa) platform. The Kendall’s coefficient of concordance was used to determine the degree of agreement among

  1. A Robust Measure of Investor Contrarian Behaviour

    Science.gov (United States)

    Challet, Damien; Morton de Lachapelle, David

    Using the transaction history of all the clients of an on-line broker, we analyse the daily aggregated investment fluxes of individual investors, companies, and asset managers. Computing the probability that price returns and daily investment fluxes have the same sign provides a robust characterisation of contrarian behaviour. The three categories are found to be contrarian, but with widely different intensities. Individual investors are by far the most contrarian of the three, followed by companies. Asset managers are only mildly contrarian with respect positive price returns.

  2. Investor-State Dispute Settlement Mechanism: The Quest for a Workable Roadmap

    Directory of Open Access Journals (Sweden)

    Sachet Singh

    2013-01-01

    Full Text Available The last decade has witnessed an unprecedented increase in the use of investor-State arbitration, highlighting numerous shortcomings of the existing investor-State dispute settlement system. The legitimacy of the International Investment regime has been under severe criticism due to the growing discontent amongst the investors as well as the host States. The increased litigation has led to both the process and the outcome being questioned and has undermined the growth of harmonious relationships between foreign investors and host States. The object of this paper is to explore a workable roadmap for the investor-State dispute settlement mechanism by tracing the evolution of the existing system and by analysing the dispute settlement mechanism in major international investment agreements. Furthermore, it highlights the causes and the possible consequences of the denunciation of Bilateral Investment Treaties ('BITs' and the International Centre for Settlement of Investment Disputes ('ICSID' by host nations, which have been plagued by a myriad of investment suits. The authors suggest the need for doing away with highly protective investor-State dispute settlement mechanisms ('ISDSMs' in future investment agreements and recommend the need for designing an appellate mechanism for bringing consistency and predictability to the system.

  3. The role of institutional investors in promoting long-term value ...

    African Journals Online (AJOL)

    The excessive focus of corporate decision-makers on short-term profit maximising ... sound principles and practices of corporate governance sits with institutional investors. ... What are the reasons for the failure of institutional investors to date?

  4. Revisiting the investor sentiment-stock returns relationship: A multi-scale perspective using wavelets

    Science.gov (United States)

    Lao, Jiashun; Nie, He; Jiang, Yonghong

    2018-06-01

    This paper employs SBW proposed by Baker and Wurgler (2006) to investigate the nonlinear asymmetric Granger causality between investor sentiment and stock returns for US economy while considering different time-scales. The wavelet method is utilized to decompose time series of investor sentiment and stock returns at different time-scales to focus on the local analysis of different time horizons of investors. The linear and nonlinear asymmetric Granger methods are employed to examine the Granger causal relationship on similar time-scales. We find evidence of strong bilateral linear and nonlinear asymmetric Granger causality between longer-term investor sentiment and stock returns. Furthermore, we observe the positive nonlinear causal relationship from stock returns to investor sentiment and the negative nonlinear causal relationship from investor sentiment to stock returns.

  5. EFFECT OF INVESTOR SENTIMENT ON FUTURE RETURNS IN THE NIGERIAN STOCK MARKET

    Directory of Open Access Journals (Sweden)

    Udoka Bernard Alajekwu

    2017-06-01

    Full Text Available The study examined the effect of investor sentiment on future returns in the Nigerian stock market. The OLS regression and granger causality techniques were employed for data analyses. The results showed that (1 investor sentiment has a significant positive effect on stock market returns even after control for fundamentals such as Industrial production index, consumer price index and Treasury bill rate; (2 there is a uni-directional causality that runs from change in investor sentiment (ΔCCI to stock market returns (Rm. Derived finding showed that the inclusion of fundamentals increased the explanatory power of investor sentiment from 3.96% to 33.05%, though at both level, investor sentiment (ΔCCI has low explanatory power on stock market returns. The study posits existence of a dynamic relationship between investor sentiment and the behaviour of stock future returns in Nigeria such that higher sentiment concurrently leads to higher stock prices.

  6. Investor responsibility and Norway’s Government Pension Fund – Global

    Directory of Open Access Journals (Sweden)

    Hilde W. Nagell

    2011-05-01

    Full Text Available This article identifies and critically examines three differentaspects of investor responsibility. First, investors haveresponsibilities toward their clients (the so-called fiduciaryduties. Second, investors are responsible for taking steps toreduce the risk that an investment directly or indirectlycontributes to harm (avoid complicity. Finally, investorsshould take into consideration the symbolic and signallingeffects of an investment decision. This article discusses howthese responsibilities should be interpreted and also howthey play out in practice. Norway’s Government PensionFund is used as a case in point.

  7. Investor relations on the internet: Analysis of companies on the Serbian stock market

    Directory of Open Access Journals (Sweden)

    Đorđević Bojan

    2012-01-01

    Full Text Available Stockholders and other interested parties used to exchange information in writing by means of physical submission, while today with just a click on any known company’s Internet page it is possible to acquire both the information needed and its financial situation. The aim of this work is to indicate the lack of corporate culture and investor communication on the Serbian stock market by analyzing investor relations via the e-communication tools of some of the best Serbian companies. This study investigates investor relations on the Internet of companies listed on the Belgrade Stock Exchange (BELEX 15 and BELEX LINE. For this purpose, the websites of the 20 largest listed companies of the Republic of Serbia were screened for investor relations items. Results obtained by using a three-stage model show that most companies in Serbia are at the second stage of internet investor relations, i.e., where information available through other sources is combined to better inform investors. In the third stage companies use the full interactive possibilities of the Internet for investor relations purposes. The author also stresses that the quality of investor relations must be a part of every company’s strategic vision.

  8. Dominant investors and strategic transparency

    NARCIS (Netherlands)

    Perotti, E.C.; von Thadden, E.-L.

    1998-01-01

    This paper studies product market competition under a strategic transparency decision. Dominant investors can influence information collection in the financial market, and thereby corporate transparency, by affecting market liquidity or the cost of information collection. More transparency on a

  9. Dominant investors and strategic transparency

    NARCIS (Netherlands)

    Perotti, E.C.; von Thadden, E.-L.

    1999-01-01

    This paper studies product market competition under a strategic transparency decision. Dominant investors can influence information collection in the financial market, and thereby corporate transparency, by affecting market liquidity or the cost of information collection. More transparency on a

  10. Investor Perceptions of Board Performance

    DEFF Research Database (Denmark)

    Fischer, Paul E.; Gramlich, Jeffrey D.; Miller, Brian P.

    2009-01-01

    This paper provides evidence that uncontested director elections provide informative polls of investor perceptions regarding board performance. We find that higher (lower) vote approval is associated with lower (higher) stock price reactions to subsequent announcements of management turnovers. In...

  11. Estimating investor preferences towards portfolio return distribution in investment funds

    Directory of Open Access Journals (Sweden)

    Margareta Gardijan

    2015-03-01

    Full Text Available Recent research in the field of investor preference has emphasised the need to go beyond just simply analyzing the first two moments of a portfolio return distribution used in a MV (mean-variance paradigm. The suggestion is to observe an investor's utility function as an nth order Taylor approximation. In such terms, the assumption is that investors prefer greater values of odd and smaller values of even moments. In order to investigate the preferences of Croatian investment funds, an analysis of the moments of their return distribution is conducted. The sample contains data on monthly returns of 30 investment funds in Croatia for the period from January 1999 to May 2014. Using the theoretical utility functions (DARA, CARA, CRRA, we compare changes in their preferences when higher moments are included. Moreover, we investigate an extension of the CAPM model in order to find out whether including higher moments can explain better the relationship between the awards and risk premium, and whether we can apply these findings to estimate preferences of Croatian institutional investors. The results indicate that Croatian institutional investors do not seek compensation for bearing greater market risk.

  12. Anomalies and Investor Sentiment: Empirical Evidences in the Brazilian Market

    Directory of Open Access Journals (Sweden)

    Gustavo Correia Xavier

    2017-10-01

    Full Text Available This study examined the relationship between investor sentiment and value anomalies in Brazil. In addition, it analyzed if pricing deviations caused by investors with optimistic views are different from those caused by pessimistic investors. The sample included all non-financial firms listed on the B3 (Brasil, Bolsa, Balcão stock exchange from July 1999 to June 2014. We used the Principal Component Analysis multivariate technique to capture the component common to four different proxies for investor sentiment. The study empirically tested the index series and its variation on the return series of Long-Short portfolios of 12 anomaly-based strategies. The study found that the measure of the sentiment index had a partial explanatory power for the anomalies only when included in the CAPM. Yet, when using the index sentiment changes as an explanatory variable, the study found a relationship with future returns, robust to all risk factors. Thus, it is possible to relate investor sentiment index to anomaly-based portfolio returns. When analyzing average returns after optimistic and pessimistic periods, the values we found in our empirical test were not statistically significant enough to infer the possible existence of short-sale constraints.

  13. Lighting detectives forum

    DEFF Research Database (Denmark)

    Bülow, Katja; Skindbjerg Kristensen, Lisbeth

    2003-01-01

    Belysning for boligområder var emnet for lighting detectives forum, der blev afholdt i Stockholm i august 2003.......Belysning for boligområder var emnet for lighting detectives forum, der blev afholdt i Stockholm i august 2003....

  14. Investors prefer entrepreneurial ventures pitched by attractive men.

    Science.gov (United States)

    Brooks, Alison Wood; Huang, Laura; Kearney, Sarah Wood; Murray, Fiona E

    2014-03-25

    Entrepreneurship is a central path to job creation, economic growth, and prosperity. In the earliest stages of start-up business creation, the matching of entrepreneurial ventures to investors is critically important. The entrepreneur's business proposition and previous experience are regarded as the main criteria for investment decisions. Our research, however, documents other critical criteria that investors use to make these decisions: the gender and physical attractiveness of the entrepreneurs themselves. Across a field setting (three entrepreneurial pitch competitions in the United States) and two experiments, we identify a profound and consistent gender gap in entrepreneur persuasiveness. Investors prefer pitches presented by male entrepreneurs compared with pitches made by female entrepreneurs, even when the content of the pitch is the same. This effect is moderated by male physical attractiveness: attractive males were particularly persuasive, whereas physical attractiveness did not matter among female entrepreneurs.

  15. The intelligent investor a book of practical counsel

    CERN Document Server

    Graham, Benjamin

    2003-01-01

    This classic text is annotated to update Graham's timeless wisdom for today's market conditions... The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949. Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles. Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most imp...

  16. MODEL BELIEF-ADJUSMENT DAN PERSEPSI INVESTOR: EKSPERIMENTASI RANGKAIAN INFORMASI PENDEK SEDERHANA DAN RESPONS SIMULTAN

    Directory of Open Access Journals (Sweden)

    I WAYAN SUARTANA

    2007-07-01

    Full Text Available The previous research found that there was effect of positive and negativeinformation order of company annual reports. The objective of this research is to examinewhether the order of positive and negative information of a company in the president letterin annual reports can influence the perception of the investor about the company. Thesubjects of this research are the students of Magister of Management Program in one ofState University in Indonesia. The method used is laboratory experiment. The result of thisresearch implies that the ordering of positive and negative information of a company inimpression management of annual reports can influence investor's perception. Positiveinformation presented at the first part will result in positive judgment on the previous andpotential performance compare with receiving negative information on the first part.

  17. “Rational” or “Intuitive”: Are Behavioral Biases Correlated Across Stock Market Investors?

    Directory of Open Access Journals (Sweden)

    Andrey Kudryavtsev

    2013-06-01

    Full Text Available Human judgments are systematically affected by various biases and distortions. The main goal of our study is to analyze the effects of five well-documented behavioral biases—namely, the disposition effect, herd behavior, availability heuristic, gambler’s fallacy and hot hand fallacy—on the mechanisms of stock market decision making and, in particular, the correlations between the magnitudes of the biases in the cross-section of market investors. Employing an extensive online survey, we demonstrate that, on average, active capital market investors exhibit moderate degrees of behavioral biases. We then calculate the cross-sectional correlation coefficients between the biases and find that all of them are positive and highly significant for both professional and non-professional investors and for all categories of investors, as classified by their experience levels, genders, and ages. This finding suggests that an investor who is more inclined to employ a certain intuitive decision-making technique will most likely accept other techniques as well. Furthermore, we determine that the correlation coefficients between the biases are higher for more experienced investors and male investors, indicating that these categories of investors are likely to behave more consistently, or, in other words, are more likely to decide for themselves whether to rely on simplifying decision-making techniques in general or to reject all of them. Alternatively, this finding may suggest that these investors develop more sophisticated “adaptive toolboxes”, or collections of heuristics, and apply them more systematically.

  18. Investment Behaviour of Institutional Investors

    NARCIS (Netherlands)

    G. Rubbaniy (Ghulame)

    2013-01-01

    textabstractThis study examines the portfolio choice anomalies and trading strategies of two types of institutional investors, Dutch pension funds (PFs) and US mutual funds (MFs), and presents some explanation for the unexpected behaviour in their trading. Particularly we focus on the determinants

  19. Individual Investor Perceptions, Behavior, and Performance During the Financial Crisis

    NARCIS (Netherlands)

    Hoffmann, A.O.I.; Pennings, J.M.E.; Post, T.

    2011-01-01

    We study how during the financial crisis individual investor perceptions change, impact trading and risk-taking behavior, and explain performance. Based on monthly survey data and matching brokerage records from April 2008 to March 2009, we find that successful investors had higher return

  20. Investor Flows to Asset Managers

    DEFF Research Database (Denmark)

    Christoffersen, Susan E. K.; Musto, David K.; Wermers, Russ

    2014-01-01

    of the financial system and the real economy, and the retirement security and protection of the investors. There is an accordingly large and growing literature on flows that has concentrated on the main retail investment pool, the open-end mutual fund, and has used flows to explore many aspects of retail financial...... decision making. We survey this literature and, where relevant, describe how open-end flows compare to other investment vehicles. We also identify opportunities both for future research and for refinement of mutual fund design, in particular as suggested by the recent rethinking of retail investment pools......Cash flows between investors and funds are both cause and effect in a complex web of economic decisions. Among the issues at stake are the prospects and fees of the funds, the efforts and risk choices by the funds' managers, the pricing and comovement of the assets they trade, the stability...

  1. LLW Forum meeting report

    International Nuclear Information System (INIS)

    1996-01-01

    This report summarizes the Low-Level Radioactive Waste Forum (LLW Forum) meeting on May 29 through May 31, 1996.The LLW Forum is an association of state and compact representatives, appointed by governors and compact commissions, established to facilitate state and compact implementation of the Low-Level Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The LLW forum provides an opportunity for state and compact officials to share information with one another and to exchange views with officials of federal agencies and other interested parties

  2. LLW Forum meeting report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-08-01

    This report summarizes the Low-Level Radioactive Waste Forum (LLW Forum) meeting on May 29 through May 31, 1996.The LLW Forum is an association of state and compact representatives, appointed by governors and compact commissions, established to facilitate state and compact implementation of the Low-Level Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The LLW forum provides an opportunity for state and compact officials to share information with one another and to exchange views with officials of federal agencies and other interested parties.

  3. Individual Investor Perceptions, Behavior, and Performance During the Financial Crisis

    NARCIS (Netherlands)

    Hoffmann, A.O.I.; Post, T.; Pennings, J.M.E.

    2011-01-01

    Abstract: We study how during the financial crisis individual investor perceptions change, impact trading and risk-taking behavior, and explain performance. Based on monthly survey data and matching brokerage records from April 2008 to March 2009, we find that successful investors had higher return

  4. Politics, investor protection and competition

    NARCIS (Netherlands)

    Perotti, E.; Volpin, P.

    2007-01-01

    External finance is critical for less established entrepreneurs, so poor investor protection can hinder competition. We model how lobbying by incumbents may reduce access to finance in countries where politicians are less accountable to voters. In a broad cross-section of countries and industries,

  5. An Empirical Study of the Effect of Investor Sentiment on Returns of Different Industries

    Directory of Open Access Journals (Sweden)

    Chuangxia Huang

    2014-01-01

    Full Text Available Studies on investor sentiment are mostly focused on the stock market, but little attention has been paid to the effect of investor sentiment on the return of a specific industry. This paper constructs a proxy variable to examine the relationship between investor sentiment and the return of a specific industry, using the Principle Component Analysis, and finds that investor sentiment is positively correlated with the industry return of the current period and negatively correlated with that of one lag period; we classify investor sentiment as optimistic state and pessimistic state and find that optimistic investor sentiment has a positive effect on stock returns of most industries, while pessimistic investor sentiment has no effect on them; this paper further builds a two-state Markov regime switching model and finds that sentiment has different effect on different industries returns on different states of market.

  6. Investor acceptance of wind energy in Switzerland - Final report

    Energy Technology Data Exchange (ETDEWEB)

    Buerer, M. J.

    2009-10-15

    This report for the Swiss Federal Office of Energy (SFOE) presents the views of 17 developers and investors in Switzerland which were collected during two sets of interviews - one in autumn 2008 with 13 developers and investors and one in the first half of 2009 with 15 developers and investors. According to the authors, this report does not present the opinion of specialists, but is rather a compilation and synthesis of the remarks made by several industry practitioners who were interviewed. The authors state that this report covers opinions, not facts. The effects of the financial crisis on wind energy are commented on and strategies that can increase the potential for success are reviewed. Basic recommendations concerning wind energy are made for Swiss policy makers.

  7. The Impact of Investors¡¯ Sentiment on the Equity Market: Evidence from Ghanaian Stock Market

    OpenAIRE

    Ebenezer Bennet; Lydia Obenewaa Amoako; Ricky Okine Charles; Asumadu Edward; Joseph Asante Darkwah

    2012-01-01

    Investor¡¯s Sentiment plays a major role in choosing which stocks we invest. Investors¡¯ sentiment can be defined as investors¡¯ attitude and opinion towards investing in the Stocks. The aim of this research is to analyse the individual investor¡¯s sentiment and also to analyse the influence of Market Specific Factors on investors¡¯ sentiment. The investor¡¯s attitude towards investing is influenced by rumours, intuition, herd behaviour among investors and media coverage of the stock. 100 inv...

  8. Proceedings of a forum industry-university relations: collision or cooperation

    Energy Technology Data Exchange (ETDEWEB)

    1982-06-01

    The principal objective of the Forum was to gather individuals intimately involved or concerned with the national status of industry-university relations in order to develop a state-of-the-art consensus on the issues, problems and forms of these relationships. The program and schedule of the Forum are included in Appendix A. The agenda approached the Forum objective by scheduling an initial day of discussions on selected issues (Communication Barriers, Ethical Considerations, Bypassing the System, and Industrial Security and Restraint of Trade). This was followed by a morning session devoted to an examination of existing models representing the major alternative mechanisms currently utilized in formalized university-industry interactions. Each session was initiated by a general review statement presented by an appropriate Topic Leader. The Topic Leaders are listed in Appendix B.

  9. Quality of care in investor-owned vs not-for-profit HMOs.

    Science.gov (United States)

    Himmelstein, D U; Woolhandler, S; Hellander, I; Wolfe, S M

    1999-07-14

    The proportion of health maintenance organization (HMO) members enrolled in investor-owned plans has increased sharply, yet little is known about the quality of these plans compared with not-for-profit HMOs. To compare quality-of-care measures for investor-owned and not-for-profit HMOs. Analysis of the Health Plan Employer Data and Information Set (HEDIS) Version 3.0 from the National Committee for Quality Assurance's Quality Compass 1997, which included 1996 quality-of-care data for 329 HMO plans (248 investor-owned and 81 not-for-profit), representing 56% of the total HMO enrollment in the United States. Rates for 14 HEDIS quality-of-care indicators. Compared with not-for-profit HMOs, investor-owned plans had lower rates for all 14 quality-of-care indicators. Among patients discharged from the hospital after myocardial infarction, 59.2% of members in investor-owned HMOs vs 70.6% in not-for-profit plans received a beta-blocker (Pinvestor-owned plans vs 47.9% in not-for-profit plans had annual eye examinations (PInvestor-owned plans had lower rates than not-for-profit plans of immunization (63.9% vs 72.3%; Pinvestor ownership was consistently associated with lower quality after controlling for model type, geographic region, and the method each HMO used to collect data. Investor-owned HMOs deliver lower quality of care than not-for-profit plans.

  10. Ethics, investments and investor behavior

    NARCIS (Netherlands)

    Zhang, C.

    2006-01-01

    The second part of the dissertation studies the impact of information on investor behavior. In particular, Chapter 5 investigates the impact of information salience on investors’ reactions to news by studying soccer clubs listed on the London Stock Exchange. Chapter 6 is an experimental study which

  11. Investment barriers under a renewable-electricity support scheme: Differences across investor types

    International Nuclear Information System (INIS)

    Linnerud, Kristin; Holden, Erling

    2015-01-01

    In 2012, Norway and Sweden implemented a common market for tradable green certificates to achieve each country's renewable-energy target. This is the first example of a cooperation mechanism that the EU has suggested to improve the cost efficiency of its renewable-energy policies. We asked investors in 446 planned hydropower projects in Norway what type of barriers may prevent their project from being realized under this scheme, and how likely it is that their project will be realized. Based on a regression analysis we find that the responses to these questions vary systematically with investor, project and process characteristics. We find that investors are concerned with capacity barriers imposed on the market because of the short duration and abrupt termination of the subsidy scheme at the end of 2020. Consequently, the cost efficiency of this and similar schemes can be improved by choosing a better design. Moreover, experienced investors and local landowners without previous experience in the energy sector responded differently to these questions. Local landowners were more optimistic, less concerned with capacity barriers and more concerned with economic barriers than experienced investors were. These observations are interesting given the recent emergence of new investors in the renewable energy sector. - Highlights: • Norway and Sweden have implemented a common market for tradable green certificates. • We asked questions on barriers and potential to investors in 446 hydropower projects. • Capacity barriers imposed on the market by the support scheme design are important. • Local landowners are more optimistic than experienced investors are, all else equal. • They focus relatively more on economic barriers and risk and less on capacity barriers

  12. 75 FR 22640 - Investor Advisory Committee

    Science.gov (United States)

    2010-04-29

    ... providing notice that it will hold a public meeting on Monday, May 17, 2010, in the Multipurpose Room, L-006... Committee; (iii) briefing on the Investor as Owner Subcommittee's environmental, social, and governance...

  13. Illuminating the Dark Side of Financial Innovation: The Role of Investor Information

    OpenAIRE

    Ammann, Manuel; Arnold, Marc; Straumann, Simon

    2017-01-01

    This paper investigates the impact of investor information on financial innovation. We identify specific channels through which issuers of financially engineered products exploit retail investors by using their privileged access to information. Our results imply that imperfect investor information regarding volatility and dividends is crucial to explain the pricing and design of financially engineered products. We confirm our conjecture by exploiting a discontinuity in issuers' informational ...

  14. Investors Perception And Attitude Towards Mutual Fund As An Investment Option

    OpenAIRE

    Sharma, Priyanka; Agrawal, Payal

    2015-01-01

    Mutual funds have opened new vistas to millions of investors by virtually taking investment to their doorstep. In India, a investor generally goes for such kind of information, which do not provide hedge against inflation and often have negative real returns. He finds himself to be an odd man out in the investment game. Mutual funds have come, as a much needed help to these investors. Thus the success of MFs is essentially the result of the combined efforts of competent fund managers and aler...

  15. Investor perceptions of potential IFRS adoption in the United States

    NARCIS (Netherlands)

    Leung, P.Y.E.; Joos, P.P.M.

    2013-01-01

    This paper examines the stock market reaction to 15 events relating to IFRS adoption in the United States. The goal is to assess whether investors perceive the switch to IFRS as beneficial or costly. Our findings suggest that investors' reaction to IFRS adoption is more positive in cases where IFRS

  16. Access to rural banking credit by agribusiness investors in Ahiazu ...

    African Journals Online (AJOL)

    This paper examines access to rural banking credit by agribusiness investors and issues for policies in Ahiazu Mbaise local government area of Imo state. The work is important because the existence of limited access of agribusiness investors to formal rural banking credit and extension services is provided by extension ...

  17. Dynamics of investor spanning trees around dot-com bubble.

    Directory of Open Access Journals (Sweden)

    Sindhuja Ranganathan

    Full Text Available We identify temporal investor networks for Nokia stock by constructing networks from correlations between investor-specific net-volumes and analyze changes in the networks around dot-com bubble. The analysis is conducted separately for households, financial, and non-financial institutions. Our results indicate that spanning tree measures for households reflected the boom and crisis: the maximum spanning tree measures had a clear upward tendency in the bull markets when the bubble was building up, and, even more importantly, the minimum spanning tree measures pre-reacted the burst of the bubble. At the same time, we find less clear reactions in the minimal and maximal spanning trees of non-financial and financial institutions around the bubble, which suggests that household investors can have a greater herding tendency around bubbles.

  18. Dynamics of investor spanning trees around dot-com bubble.

    Science.gov (United States)

    Ranganathan, Sindhuja; Kivelä, Mikko; Kanniainen, Juho

    2018-01-01

    We identify temporal investor networks for Nokia stock by constructing networks from correlations between investor-specific net-volumes and analyze changes in the networks around dot-com bubble. The analysis is conducted separately for households, financial, and non-financial institutions. Our results indicate that spanning tree measures for households reflected the boom and crisis: the maximum spanning tree measures had a clear upward tendency in the bull markets when the bubble was building up, and, even more importantly, the minimum spanning tree measures pre-reacted the burst of the bubble. At the same time, we find less clear reactions in the minimal and maximal spanning trees of non-financial and financial institutions around the bubble, which suggests that household investors can have a greater herding tendency around bubbles.

  19. RESPON INVESTOR TERHADAP PENGUMUMAN LABA INDUSTRI PERBANKAN YANG MENGHADAPI KOS STICKINESS

    Directory of Open Access Journals (Sweden)

    Windyastuti Windyastuti

    2017-05-01

    Full Text Available This study aimed to analyze the response of investors to the announcement of the financial statements of the banking sector. The population in this study was the banking industry. This study used purposive sampling method. Based on sampling techniques the number of samples in this study were 11 banks. The research period was 2002-2014. The analysis technique used was panel data regression. The result showed that investor response to the financial statements of banks which faced cost stickiness was weak. The increase of cost stickiness on banking sector led the weak investor response to the announcement of the financial statements of banks. In the banking companies facing cost stickiness problem, earnings prediction accuracy reduced. This causes the income statement would provide information that was less important to the earnings prediction in the next periods. Penelitian ini bertujuan untuk menganalisis respon investor terhadap pengumuman laporan keuangan sektor perbankan. Populasi dalam penelitian ini adalah industri perbankan. Penelitian ini menggunakan metode purposive sampling. Berdasarkan teknik sampling jumlah sampel dalam penelitian sejumlah 11 bank. Periode penelitian tahun 2002-2014. Teknik analisis yang digunakan regresi berganda data panel. Hasil penelitian menunjukkan lemahnya respon investor terhadap laporan keuangan perbankan yang menghadapi kos stickiness. Kenaikan kos stickiness sektor perbankan menyebabkan lemahnya respon investor terhadap pengumuman laporan keuangan perbankan. Pada perusahaan perbankan yang menghadapi masalah kos stickiness, akurasi prediksi laba berkurang. Hal ini menyebabkan laba yang dilaporkan akan memberikan informasi yang kurang penting bagi prediksi laba periode mendatang.

  20. New England Wind Forum: A Wind Powering America Project, Newsletter #5 -- January 2010, Wind and Hydropower Technologies Program (WHTP)

    Energy Technology Data Exchange (ETDEWEB)

    Grace, R. C.; Gifford, J.

    2010-01-01

    Wind Powering America program launched the New England Wind Forum (NEWF) in 2005 to provide a single comprehensive source of up-to-date, Web-based information on a broad array of wind energy issues pertaining to New England. The NEWF newsletter provides New England stakeholders with updates on wind energy development in the region. In addition to regional updates, Issue #5 offers an interview with Angus King, former governor of Maine and co-founder of Independence Wind.

  1. Managerial incentives for attracting attention and firm investor base

    OpenAIRE

    Papiashvili, Nino

    2016-01-01

    This thesis studies how managerial incentives relate to strategic transmission of soft information from managers to investors in order to attract attention of financial markets. Additionally, I study trading reaction of different investors (large sophisticated vs. small individual) to CEO voluntary announcements and how their trading is affected when managerial incentives are taken into account. I use large panel data and several alternative proxies for soft information togethe...

  2. Information for investors

    International Nuclear Information System (INIS)

    1996-08-01

    A booklet was prepared by Imperial Oil for the benefit of investors. It includes a review of the company's current and historical financial situation by division, i.e., natural resources, petroleum products, chemicals and corporate divisions. Imperials' Resources Division is the largest producer of crude oil and a major producer of natural gas in Canada. Besides production of conventional crude and natural gas, the division is also responsible for the exploration and production of bitumen and is a major developer of Canada's reserves of oil sands through its operations at Cold Lake, Alberta. tabs., figs

  3. AUDITOR CHOICE AND INTITUTIONNEL INVESTOR CHARACTERISTICS AFTER THE ENRON SCANDAL IN THE FRENCH CONTEXT

    OpenAIRE

    Jamel Azibi; Hubert Tondeur; Mohamed Tahar Rajhi

    2010-01-01

    International audience; This study examines the association between the quality of audit and the characteristics of institutional investors, using French data. After the Enron scandal, the perception of the Big 4 by French institutional investors changed. Our first hypothesis focuses on the perception French institutional investors to appointment of the Big 4. Our second hypothesis deals with the perception of the foreign institutional investors to choose one of the Big 4 auditors due to the ...

  4. Principle Guided Investing: The Use of Exclusionary Screens and Its Implications for Green Investors

    OpenAIRE

    Urs von Arx

    2007-01-01

    This paper examines how "green" investors can induce firms to invest in clean production technology. The 1-period model incorporates heterogeneous agents - Markowitz investors and green investors – and two groups of firms working either with clean or polluting technology. Since green investors apply exclusionary environmental screens, some firms will invest in abatement technology in order to switch to a clean technology and thereby raising firm value. The number of firms working with clean t...

  5. The impact of foreign investors on the Serbian stock market

    Directory of Open Access Journals (Sweden)

    Rakočević Rade

    2016-01-01

    Full Text Available Frontier markets, such as Serbia, which are at the early stages of development, are characterized by very low level of solvency, absence of corporate management rules and reports to the public, insufficiently developed regulations, as well as significant participation of foreign portfolio investors in the exchange. Those are usually foreign investment funds specialized in risky investments at such markets; they apply the principle of geographic portfolio diversification in their investment policy. At the Belgrade Stock Exchange, foreign investors have been present at the stock market since 2002 and they participated in high volumes in stock buying during the stock market growth in the period from 2002 to 2007, whereas during the crisis at the Serbian capital market from 2008 to 2010 there was a significant increase in foreign investors' participation on the selling side and a withdrawal from the Belgrade Stock Exchange. Such behavior of foreign investors was initially prompted by local factors, but was intensified by the global financial crisis and will be analyzed in this paper.

  6. Investor Reaction to Mandatory Offers on the Warsaw Stock Exchange

    Directory of Open Access Journals (Sweden)

    Szymon Okoń

    2012-06-01

    Full Text Available The following paper aims to assess investor reaction to mandatory offers on the Warsaw Stock Exchange, which is important because knowledge about these reactions can be used to make better investment decisions. This paper highlights the importance of procedure in making a mandatory offer and its grounds in the Polish legal system. Additionally, it presents empirical research on the reactions of investors to mandatory offers on the Warsaw Stock Exchange. It has been provided that mandatory offers have a significant impact on the price of a company’s shares listed on the Warsaw Stock Exchange. Knowledge about the reactions of investors to a mandatory offer may be used when selecting securities for an investment portfolio. The findings may provide guidance in deciding whether to begin or end investment in the company, both for individual and institutional investors. The event study methodology approach used in the paper is regarded as valuable and can be the basis for further research in other areas of the capital market research, especially in the context of information efficiency.

  7. Perlakuan Akuntansi Sumber Daya Manusia: Assets Sekaligus Investor Bagi Perusahaan

    Directory of Open Access Journals (Sweden)

    Sri Ningsih

    2015-12-01

    Full Text Available Human resources or called employee as a company asset to be one determinant of the success of the company (organization. Issue growing is that labor (human resources is not only the company's assets but also as owners and investors on its human capital to be invested in the company where he works (at work. This article tries to see how human resources can be considered as an asset for the company and when human resources can act as an investor of its human capital. This article also discusses the accounting treatment of human resources as company assets and the possibility of counting on human resources as human capital investor.    

  8. Rebalancing for Long-Term Investors

    NARCIS (Netherlands)

    Driessen, Joost; Kuiper, Ivo

    2017-01-01

    In this study we show that the rebalance frequency of a multi-asset portfolio has only limited impact on the utility of a long-term passive investor. Although continuous rebalancing is optimal, the loss of a suboptimal strategy corresponds to up to only 30 basis points of the initial wealth of the

  9. PERSEPSI RISIKO DAN KECENDERUNGAN RISIKO INVESTOR INDIVIDU

    Directory of Open Access Journals (Sweden)

    Wiwik Lestari

    2017-03-01

    Full Text Available The two important measurements of risks on behavioral point of view were risk perception and risk propensity.The two construct hypothesizes had negative relationship. This study attempted to establish a model by whichto measure those attitudes towards investment risk and also examined some variables that were postulated asexternal factors of investor investment decision. External factors were the availability of information, socialinteraction, financial adviser and familiarity. The data were collected on a survey research to 150 investors asrespondents in Surabaya area. By employing GeSCA, the result showed that risk propensity and risk perceptionhad negative correlation, supporting previous studies on this two variables relationship. This study alsoproved that external factor significantly affected risk perception and risk propensity

  10. Online Broker Investors: Demographic Information, Investment Strategy, Portfolio Positions, and Trading Activity

    OpenAIRE

    Glaser, Markus

    2003-01-01

    It is often argued that the internet influences investor behavior. Furthermore, the recent 'bubble' in internet stocks is sometimes ascribed, at least in part, to online trading. However, little is known about how online investors actually behave. This paper contributes to fill this gap. A sample of approximately 3,000 online broker investors is studied over a 51 month period ending in April 2001. The main goal of this paper is to present various descriptive statistics on demographic informat...

  11. Investor response to consumer elasticity

    International Nuclear Information System (INIS)

    Grenaa Jensen, Stine; Meibom, Peter; Ravn, H.F.; Straarup, Sarah

    2004-01-01

    In the Nordic electricity system there is considerable uncertainty with respect to the long-term development in production capacity. The process towards liberalisation of the electricity sector started in a situation with a large reserve margin, but this margin is gradually vanishing. Since the potential investors in new production capacity are unaccustomed with investments under the new regime it is unknown if and when investments will take place. The electricity price is the key market signal to potential investors. The price is settled as a balance between supply and demand, and it is generally assumed that the demand side has an important role in this, and increasingly so. However, since consumers have not earlier had the incentive to respond to electricity prices, no reliable estimate of demand elasticity is known. The purpose of the present study is to analyse the role of electricity demand elasticity for investments in new electricity production capacity. Electricity price scenarios generated with a partial equilibrium model (Balmorel) are combined with a model of investment decisions. In this, various scenarios concerning the development in the demand elasticity are used. The simulated investment decisions are taken in a stochastic, dynamic setting, where a key point is the timing of the investment decision in relation to the gathering of new information relative to the stochastic elements. Based on this, the consequences of the development in consumer price elasticity for investments in a base load and a peak load plant are investigated. The main result of the analysis is that peak load investments can be made unprofitable by the development in consumer price elasticity, such that an investor will tend to wait with his peak load investment, until the development in consumer price elasticity has been revealed. (au)

  12. Investor Behavior and Flow-through Capability in the US Stock Market.

    Science.gov (United States)

    Cano, Carlos; Jareño, Francisco; Tolentino, Marta

    2016-01-01

    This paper analyzes investor behavior depending on the flow-through capability (FTC) in the US stock market, because investors seek protection from inflation rate changes, and the FTC (a firm's ability to transmit inflation shocks to the prices of its products and services) is a key factor in investment decisions. Our estimates of the FTC of firms listed on the US stock exchange at the sector level are significantly different among industries, and we demonstrate a direct relationship between changes in stock prices (at the sector level) and FTC. These results would be relevant because they have important implications on investor behavior.

  13. Carbon sequestration leadership forum

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2003-07-01

    The Carbon Sequestration Leadership Forum (CSLF) is an international climate change initiative that will focus on development of carbon capture and storage technologies as a means of accomplishing long-term stabilisation of greenhouse gas levels in the atmosphere. This initiative is designed to improve these technologies through coordinated research and development with international partners and private industry. Three types of cooperation are currently envisioned within the framework of the Forum: data gathering, information exchange, and joint projects. Data gathered from participating countries will be aggregated, summarised, and distributed to all of the Forum's participants. Joint projects will be identified by member nations with the Forum serving as a mechanism for bringing together government and private sector representatives from member countries. The article also reports the inaugural meeting which was held 23-25 June 2003 in Washington.

  14. Calisthenics with Words: The Effect of Readability and Investor Sophistication on Investors’ Performance Judgment

    Directory of Open Access Journals (Sweden)

    Xiao Carol Cui

    2016-01-01

    Full Text Available Since the 1990s, the SEC has advocated for financial disclosures to be in “plain English” so that they would be more readable and informative. Past research has shown that high readability is related to more extreme investor judgments of firm performance. Processing fluency is the prevalent theory to explain this: higher readability increases the investor’s subconscious reliance on the disclosure, so positive (negative news leads to more positive (negative judgments. The relationship may not be so simple, though: drawing on research from cognitive psychology, I predict and find that investor financial literacy simultaneously influences investor decision-making, and that it has an interactive effect with readability. When presented with financial disclosure containing conflicting financial information, investors with higher financial literacy make more negative judgments than investors with low financial literacy when the disclosure is easy to read, but the effect becomes insignificant when the disclosure becomes difficult to read. This effect is moderated by a comprehension gap between the two investor groups. Financial literacy and readability interact to impact both how and how well the investor processes financial information.

  15. Islamic and conventional bank market value: Manager behavior and investor sentiment

    Directory of Open Access Journals (Sweden)

    Mouna Abdelhedi-Zouch

    2016-12-01

    Full Text Available This paper studies the effect of bank manager behavior and investor behavior on market value of Islamic and conventional banks in the Middle East and North Africa region. Firstly, our analysis denoted the positive effect of discretionary behavior of manager on both types of banks on share prices since discretionary behavior transmits to investor a positive signal of future earnings’ prospects. Also, we find that the conventional bank stock prices response is very high to negative signal compared with positive signal. This result is explained by prospect theory and loss aversion bias which specified that individuals are more sensitive to losses than gains of same magnitude. In particular, we discover that the negative effect of non-discretionary behavior is much lower on Islamic bank value since investors give more confidence to Islamic bank because they are motivated by the idea that Islamic banks are safer than conventional banks. Secondly, the results show that investor sentiment affects significantly both bank market prices. Thus, both Islamic and conventional banks’ market value depends similarly on manager and investor behavior. The implication of this paper is that Islamic bank concentrations reveal a positive effect on their price values because of the recently increased investments in Islamic banks.

  16. 76 FR 22740 - Comment Request on Existing Private and Public Efforts To Educate Investors

    Science.gov (United States)

    2011-04-22

    ... Existing Private and Public Efforts To Educate Investors AGENCY: Securities and Exchange Commission. ACTION: Request for comment. SUMMARY: In connection with a study regarding financial literacy among investors as... private and public efforts to educate investors. DATES: Comments should be received on or before June 21...

  17. Profit sharing between managers and investors: An experimental investigation

    OpenAIRE

    Ozturkkal, Belma

    2015-01-01

    This study analyzes the effect of interest and power structures and conflict of interest among managers and investors and tests the effect of different payout mechanisms on willingness to pay. In this study 74 student subjects are involved in a setting where the manager is determining his own compensation. A series of experiments that vary managers' ability to determine their own compensation and investors' ability to punish inappropriate behavior are reported. The experiments involve pairs o...

  18. Pop Finance : Investment Clubs and the New Investor Populism

    OpenAIRE

    Harrington, B.

    2008-01-01

    During the 1990s, the United States underwent a dramatic transformation: investing in stocks, once the province of a privileged elite, became a mass activity involving more than half of Americans. Pop Finance follows the trajectory of this new market populism via the rise of investment clubs, through which millions of people across the socioeconomic spectrum became investors for the first time. As sociologist Brooke Harrington shows, these new investors pour billions of dollars annually into ...

  19. On the behavior of mutual fund investors and managers

    OpenAIRE

    Goriaev, A.P.

    2002-01-01

    This thesis investigates empirically and theoretically the behavior of mutual fund investors and managers. These two aspects are closely related to each other. Investors try to select funds that follow an optimal investment policy from their point of view, while fund managers are typically interested in maximizing net fund inflows. In the first part of the thesis, we analyze the determinants of mutual fund flows, concentrating on the impact of past performance on fund flows. In particular, we...

  20. Foreign Investors Able to Establish Foreign- exclusively Exhibition Corporations

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    Foreign Investors Able to Establish Foreign-exclusively Exhibition Corporations In Feb, Ministry of Commerce issued its 1st decree on temporary regulation for foreign-investing corporations; the regulation allows foreign investors to set up foreign-investing convention & exhibition corporations exclusively or through cooperation with other Chinese corporations, enterprises or organizations. With legal protection on their regulatory management and legal rights, these foreign-investing corporations are in the charge of Department of Foreign Investment Administration, Ministry of Commerce.

  1. Providing Value to New Health Technology: The Early Contribution of Entrepreneurs, Investors, and Regulatory Agencies

    Science.gov (United States)

    Lehoux, Pascale; Miller, Fiona A.; Daudelin, Geneviève; Denis, Jean-Louis

    2017-01-01

    Background: New technologies constitute an important cost-driver in healthcare, but the dynamics that lead to their emergence remains poorly understood from a health policy standpoint. The goal of this paper is to clarify how entrepreneurs, investors, and regulatory agencies influence the value of emerging health technologies. Methods: Our 5-year qualitative research program examined the processes through which new health technologies were envisioned, financed, developed and commercialized by entrepreneurial clinical teams operating in Quebec’s (Canada) publicly funded healthcare system. Results: Entrepreneurs have a direct influence over a new technology’s value proposition, but investors actively transform this value. Investors support a technology that can find a market, no matter its intrinsic value for clinical practice or healthcare systems. Regulatory agencies reinforce the "double" value of a new technology—as a health intervention and as an economic commodity—and provide economic worth to the venture that is bringing the technology to market. Conclusion: Policy-oriented initiatives such as early health technology assessment (HTA) and coverage with evidence may provide technology developers with useful input regarding the decisions they make at an early stage. But to foster technologies that bring more value to healthcare systems, policy-makers must actively support the consideration of health policy issues in innovation policy. PMID:28949463

  2. 7 CFR 1901.508 - Servicing of insured notes outstanding with investors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Servicing of insured notes outstanding with investors. 1901.508 Section 1901.508 Agriculture Regulations of the Department of Agriculture (Continued) RURAL... Ownership and Insured Notes § 1901.508 Servicing of insured notes outstanding with investors. The Director...

  3. 13 CFR 107.1570 - Distributions by Licensee-optional Distribution to private investors and SBA.

    Science.gov (United States)

    2010-01-01

    ... Distribution to private investors and SBA. 107.1570 Section 107.1570 Business Credit and Assistance SMALL... private investors and SBA. If you have outstanding Participating Securities or Earmarked Assets, you may... and your private investors in proportion to the capital contributions of each. You must notify SBA of...

  4. Liquidity, Investors and International Capital Markets

    NARCIS (Netherlands)

    D. Vagias

    2013-01-01

    textabstractThis dissertation consists of four empirical studies that seek to furnish a better understanding over liquidity’s broader implications in the decision-making process of investors, managers and regulators in international capital markets. Chapter 2 investigates the time-series as well as

  5. Developers@CERN Forums: Python

    CERN Multimedia

    CERN. Geneva

    2016-01-01

    The Developers@CERN Forums second edition took place at the end of May on the topic of Python. How do developers at CERN interact with Python? Which cutting-edge projects are using Python? What were the highlights of this most recent forum?

  6. Modeling investor sentiment and overconfidence in an agent-based stock market

    NARCIS (Netherlands)

    Lovric, M.; Kaymak, U.; Spronk, J.

    2010-01-01

    Agent-based stock markets as bottom-up models of financial markets allow us to study the link between individual investor behavior and aggregate market phenomena, and as such are a useful tool for investigating the implications of behavioral finance and investor psychology. In this paper we want to

  7. AWARENESS OF MUTUAL FUND INVESTMENT AMONG THE INVESTORS – AN EMPIRICAL STUDY

    OpenAIRE

    Dr. B. Ravi Kumar; R. Padma Malini

    2017-01-01

    Capital market has been strengthened due to because of increase in investment in mutual funds by small and medium investors. Most of the investors are having awareness about mutual funds and its benefits like tax benefits, less risk, cost etc. The mutual fund industry in India has undergone a most successful phase in the last 15 years. The growth in number of schemes offered by Indian mutual funds from 403 schemes in 2002-03 to 1294 schemes in 2011-12 has shown the inclination of investors to...

  8. Investor-state tribunals and constitutional courts: The Mexican sweeteners saga

    OpenAIRE

    Puig, Sergio

    2017-01-01

    This article tackles the complex question of the relationship between international and domestic adjudicatory bodies. It does so by analyzing the debate between liberals and developmentalists over the effects of investor-state arbitration tribunals on domestic courts. For liberals, investor-state tribunals are a positive complement to domestic judicial institutionsfor their ability to "de-politicize" investment disputes, leading to economic policy stability that encourages foreign investment....

  9. Investor Behavior and Flow-Through Capability in the US Stock Market

    Directory of Open Access Journals (Sweden)

    Carlos eCano

    2016-05-01

    Full Text Available This paper analyzes investor behavior depending on the flow-through capability in the US stock market, because investors seek protection from inflation rate changes, and the flow-through capability (a firm’s ability to transmit inflation shocks to the prices of its products and services is a key factor in investment decisions. Our estimates of the flow-through capability of firms listed on the US stock exchange at the sector level are significantly different among industries, and we demonstrate a direct relationship between changes in stock prices (at the sector level and flow-through capability. These results would be relevant because they have important implications on investor behavior.

  10. The International Technical Safety Forum

    CERN Multimedia

    CERN Bulletin

    2010-01-01

    The International Technical Safety Forum is a meeting of safety experts from several physics labs in Europe and the US. Since 1998 participants have been meeting every couple of years to discuss common challenges in safety matters. The Forum helps them define best practices and learn from the important lessons learned by others.   The Forum's participants in front of building 40. This year, the meeting took place at CERN from 12 to 16 April. “This year's meeting covered subjects ranging from communication and training in matters of safety, to cryogenic safety, emergency preparedness and risk analysis”, explains Ralf Trant, head of the CERN Safety Commission and organiser of this year’s Forum. Radiation protection issues are not discussed at the meeting since they involve different expertise. The goal of the Forum is to allow participants to share experience, learn lessons and acquire specific knowledge in a very open way. Round-table discussions, dedicated time for ...

  11. Traveling through Time: The Forum Guide to Longitudinal Data Systems. Book Four of Four: Advanced LDS Usage. NFES 2011-802

    Science.gov (United States)

    National Forum on Education Statistics, 2011

    2011-01-01

    This document is the fourth and final installment of this Forum series of guides on longitudinal data systems (LDS). One goal of the National Forum on Education Statistics (the Forum) is to improve the quality of education data gathered for use by policymakers and program decisionmakers. An approach to furthering this goal has been to pool the…

  12. Does Online Investor Sentiment Affect the Asset Price Movement? Evidence from the Chinese Stock Market

    Directory of Open Access Journals (Sweden)

    Chi Xie

    2017-01-01

    Full Text Available With the quick development of the Internet, online platforms that provide financial news and opinions have attracted more and more attention from investors. The question whether investor sentiment expressed on the Internet platforms has an impact on asset return has not been fully addressed. To this end, this paper uses the Baidu Searching Index as the agent variable to detect the effect of online investor sentiment on the asset price movement in the Chinese stock market. The empirical study shows that although there is a cointegration relationship between online investor sentiment and asset return, the sentiment has a poor ability to predict the price, return, and volatility of asset price. Meanwhile, the structural break points of online investor sentiment do not lead to changes in the asset price movement. Based on the empirical mode decomposition of online investor sentiment, we find that high frequency components of online investor sentiment can be used to predict the asset price movement. Thus, the obtained results could be useful for risk supervision and asset portfolio management.

  13. A conceptual model of investor behavior

    NARCIS (Netherlands)

    Lovric, M.; Kaymak, U.; Spronk, J.; Nefti, S.; Gray, J.O.

    2010-01-01

    Behavioral finance is a subdiscipline of finance that uses insights from cogni tive and social psychology to enrich our knowledge of how investors make their financial decisions. Agent-based artificial financial markets are bottomup models of financial markets that start from the micro level of

  14. Information and Heterogeneous Beliefs: Cost of Capital, Trading Volume, and Investor Welfare

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    In an incomplete market setting with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. In a model with exponential utility investors and an asset with a normally distributed dividend...... information system. In an effectively complete market setting, in which investors do not need to trade dynamically in order to take full advantage of their differences in beliefs, the ex ante cost of capital and the investor welfare are both higher than in the incomplete market setting......, the Pareto efficient public information system is the system which enjoys the maximum ex ante cost of capital, and the maximum expected abnormal trading volume. The public information system facilitates improved dynamic trading opportunities based on heterogeneously updated posterior beliefs in order to take...

  15. Information and Heterogeneous Beliefs: Cost of Capital, Trading Volume, and Investor Welfare

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Qin, Zhenjiang

    information system. In an effectively complete market setting, in which investors do not need to trade dynamically in order to take full advantage of their differences in beliefs, the ex ante cost of capital and the investor welfare are both higher than in the incomplete market setting......In an incomplete market setting with heterogeneous prior beliefs, we show that public information can have a substantial impact on the ex ante cost of capital, trading volume, and investor welfare. In a model with exponential utility investors and an asset with a normally distributed dividend......, the Pareto efficient public information system is the system which enjoys the maximum ex ante cost of capital, and the maximum expected abnormal trading volume. The public information system facilitates improved dynamic trading opportunities based on heterogeneously updated posterior beliefs in order to take...

  16. 78 FR 24780 - 60-Day Notice of Proposed Information Collection: Nonimmigrant Treaty Trader/Investor Application

    Science.gov (United States)

    2013-04-26

    ...: Nonimmigrant Treaty Trader/Investor Application ACTION: Notice of request for public comment. SUMMARY: The... Information Collection: Nonimmigrant Treaty Trader/Investor Application. OMB Control Number: OMB-1405-0101... Number: DS-156E. Respondents: Nonimmigrant Treaty Trader/Investors. Estimated Number of Respondents: 17...

  17. Institutional Investors as Minority Shareholders

    OpenAIRE

    Assaf Hamdani; Yishay Yafeh

    2013-01-01

    We examine the link between minority shareholders' rights and corporate governance by studying institutional investors' voting patterns in a concentrated ownership environment. Institutions rarely vote against insider-sponsored proposals even when the law empowers the minority. Institutions vote against compensation-related proposals more often than against related party transactions even when minority shareholders cannot influence outcomes. Potentially conflicted institutions are more likely...

  18. Corporate Investors Increased Common Ownership In Hospitals And The Postacute Care And Hospice Sectors.

    Science.gov (United States)

    Fowler, Annabelle C; Grabowski, David C; Gambrel, Robert J; Huskamp, Haiden A; Stevenson, David G

    2017-09-01

    The sharing of investors across firms is a new antitrust focus because of its potential negative effects on competition. Historically, the ability to track common investors across the continuum of health care providers has been limited. Thus, little is known about common investor ownership structures that might exist across health care delivery systems and how these linkages have evolved over time. We used data from the Provider Enrollment, Chain, and Ownership System of the Centers for Medicare and Medicaid Services to identify common investor ownership linkages across the acute care, postacute care, and hospice sectors within the same geographic markets. To our knowledge, this study provides the first description of common investor ownership trends in these sectors. We found that the percentage of acute care hospitals having common investor ties to the postacute or hospice sectors increased from 24.6 percent in 2005 to 48.9 percent in 2015. These changes have important implications for antitrust, payment, and regulatory policies. Project HOPE—The People-to-People Health Foundation, Inc.

  19. CERN hosts Physics and Society Forum

    CERN Multimedia

    Katarina Anthony

    2012-01-01

    On 28-29 March, CERN hosted the fifth edition of the European Physical Society's “Physics and Society” forum. The forum addresses the role of physicists in general society – be they in education, politics, industry or communication. This year, attendees looked at how physicists have adapted - and can continue to adapt - to work in the economic marketplace.   “The forums began back in 2006, as a special closing event for the 2005 World Year of Physics,” explains Martial Ducloy, former President of the French Physical Society and Chair of the EPS Forum Physics and Society. “We decided to keep the sessions going, as they gave physicists a venue to discuss the non-scientific issues that influence their daily work. As the world's largest international physics laboratory – and the venue for this year's EPS Council – CERN seemed the ideal place to host this year's forum.” The forum ...

  20. Small-scale nuclear fusion needs investors

    International Nuclear Information System (INIS)

    Kasteren, J. van.

    1985-01-01

    The only Dutch high-risk research company 'Convector' needs money. In the beginning of October, investors could put at most five million Dutch florins in a highly disputed project for the development of a thermonuclear reactor, based on the principle of globular lightnings. (G.J.P.)

  1. Ambiguity Towards Multiple Historical Performance Information Signals: Evidence From Indonesian Open-Ended Mutual Fund Investors

    OpenAIRE

    Haris Pratama Loeis; Ruslan Prijadi

    2015-01-01

    This study focuses on the behavior of open-ended mutual fund investors when encountered with multiple information signals of mutual fund’s historical performance. The behavior of investors can be reflected on their decision to subscribe or redeem their funds from mutual funds. Moreover, we observe the presence of ambiguity within investors due to multiple information signals, and also their reaction towards it. Our finding shows that open-ended mutual fund investors do not only have sen...

  2. Determinants of Individual Investor Behaviour: An Orthogonal Linear Transformation Approach

    OpenAIRE

    Chandra, Abhijeet; Kumar, Ravinder

    2011-01-01

    Expected utility theory views the individual investment decision as a tradeoff between immediate consumption and deferred consumption. But individuals do not always prefer according to the classical theory of economics. Recent studies on individual investor behavior have shown that they do not act in a rational manner, rather several factors influences their investment decisions in stock market. The present study considers this theory of irrationality of individual investors and investigates ...

  3. The comparative economic performance of investor-owned chain and not-for-profit hospitals.

    Science.gov (United States)

    Watt, J M; Derzon, R A; Renn, S C; Schramm, C J; Hahn, J S; Pillari, G D

    1986-01-09

    We examined the differences in the economic performance of 80 matched pairs of investor-owned chain and not-for-profit hospitals in eight states during 1978 and 1980, and considered how their operating strategies might affect their relative success in a more price-conscious market. We found that total charges (adjusted for case mix) and net revenues per case were both significantly higher in the investor-owned chain hospitals, mainly because of higher charges for ancillary services; there were no significant differences between the two groups of hospitals in regard to patient-care costs per case (adjusted for case mix), but the investor-owned hospitals had significantly higher administrative overhead costs; investor-owned hospitals were more profitable; investor-owned hospitals had fewer employees per occupied bed but paid more per employee; investor-owned hospitals had funded more of their capital through debt and had significantly higher capital costs in proportion to their operating costs; and the two groups did not differ in patient mix, as measured by their Medicare case-mix indexes or the proportions of their patients covered by Medicare or Medicaid. We conclude that investor-owned chain hospitals generated higher profits through more aggressive pricing practices rather than operating efficiencies - a result not unexpected in view of past cost-based reimbursement policies. Recent changes in these policies are creating new pressures for cost control and moderation in charges, to which both types of hospitals must adapt. Neither type has a clear-cut advantage in the ability to make the necessary changes.

  4. PREFACE: Rusnanotech 2010 International Forum on Nanotechnology

    Science.gov (United States)

    Kazaryan, Konstantin

    2011-03-01

    The Rusnanotech 2010 International Forum on Nanotechnology was held from November 1-3, 2010, in Moscow, Russia. It was the third forum organized by RUSNANO (Russian Corporation of Nanotechnologies) since 2008. In March 2011 RUSNANO was established as an open joint-stock company through the reorganization of the state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. Within the framework of the Forum Science and Technology Program, presentations on key trends of nanotechnology development were given by foreign and Russian scientists, R&D officers of leading international companies, universities and scientific centers. The science and technology program of the Forum was divided into eight sections as follows (by following hyperlinks you may find each section's program including videos of all oral presentations): Catalysis and Chemical Industry Nanobiotechnology Nanodiagnostics Nanoelectronics Nanomaterials Nanophotonics Nanotechnolgy In The Energy Industry Nanotechnology in Medicine The scientific program of the forum included 115 oral presentations by leading scientists from 15 countries. Among them in the "Nanomaterials" section was the lecture by Dr Konstantin Novoselov, winner of the Nobel Prize in Physics 2010. The poster session consisted of over 500 presentations, 300 of which were presented in the framework of the young scientists' nanotechnology papers competition. This volume of the Journal of Physics: Conference Series includes a selection of 57 submissions. The scientific program committee: Prof Zhores Alferov, AcademicianVice-president of Russian Academy of Sciences, Nobel Prize winner, Russia, Chairman of the Program CommitteeProf Sergey Deev, Corresponding Member of Russian Academy of SciencesHead of the Laboratory of Molecular Immunology, M M Shemyakin and Yu A Ovchinnikov

  5. LLW (Low-Level Waste) Forum meeting report, February 10-13, 1998, San Diego, CA

    International Nuclear Information System (INIS)

    1998-01-01

    The Low-Level Radioactive Waste Forum met in San Diego, California, on February 10--13, 1998. Twenty-four Forum Participants, Alternate Forum Participants, and meeting designees representing 19 compacts, host states, and unaffiliated states participated. Additional information was provided by 19 resource people from, variously, the States of California, Colorado, and Utah; the National Governors' Association; the Department of the Army; EPA; DOE and DOE's National Low-Level Waste Management Program; NRC; the Electric Power Research Institute and the Nuclear Energy Institute; US Ecology, Chem-Nuclear Systems, Envirocare of Utah, and Waste Control Specialists (represented by Egan and Associates); and Rocketdyne Propulsion and Power. Also in attendance, as observers, were six other state and compact officials; a staff person from DOE's National Low-Level Waste Management Program; one NRC headquarters staff person; and seven representatives of other interested parties, including a regional generators' organization, two generators, one California anti-nuclear group, and two private companies

  6. Investor relations and information asymmetry

    Directory of Open Access Journals (Sweden)

    Sandrielem da Silva Rodrigues

    2017-03-01

    Full Text Available ABSTRACT Companies invest significant volumes of resources in investor relations (IR departments. The professionals working in the IR department are responsible for communication between the company and the market, so that the information generated is widely disseminated and understood by investors. In this context, this research aims to investigate whether there is evidence that the IR activity decreases information asymmetry between the company and the market. Specifically, we evaluate the hypothesis that Brazilian companies with IR websites classified as more informative have a reduced bid-ask spread (proxy for asymmetry. Therefore, this paper classifies the informative content from IR websites of Brazilian companies for the years 2013 and 2014 and relates the outcomes obtained with information asymmetry metrics. Initially, the estimation considers the pooled ordinary least squares (POLS model and, at a second moment, in order to mitigate potential endogeneity problems, the pooled two-stage least squares (2SLS model is used. The results indicate that more informative IR websites are able to decrease the bid-ask spread of Brazilian listed companies. This finding strongly encourages companies to provide information to stakeholders on well-structured IR websites of their own.

  7. Strategic versus financial investors: The role of strategic objectives in financial contracting

    NARCIS (Netherlands)

    Arping, S.; Falconieri, S.

    2009-01-01

    Strategic investors, such as corporate venture capitalists, engage in the financing of start-up firms to complement their core businesses and to facilitate the internalization of externalities. We argue that while strategic objectives make it more worthwhile for an investor to elicit high

  8. SATISFACTION OF RETAIL INVESTORS ON THE STRUCTURAL EFFICIENCY OF THE MARKET: EVIDENCE FROM A DEVELOPING COUNTRY CONTEXT

    Directory of Open Access Journals (Sweden)

    Mamunur Rashid

    2009-01-01

    Full Text Available Satisfied investors are a necessary element of the stock market. They help to finance rapid expansion in developing countries. This study explores the components of market structure that contribute to the satisfaction level of retail investors. Around 300 retail investors from 25 randomly selected brokerage houses registered with the Dhaka Stock Exchange, Bangladesh were surveyed using a structured questionnaire. Analyses reveal that most investors were young and inexperienced but educated, with shortages of skills and income. The investors put the strongest emphasis on effective investment analysis, followed by ease of the transaction process, effective information management and timely risk management. The trading experience of these investors was used as a moderating variable to investigate the impact of demographic variables and found to be insignificant. The study suggests the importance of effective regulation, disclosure requirements to ensure a supply of quality information, investor education and technology driven trading in brokerage houses for overall investor satisfaction.

  9. Water Finance Webinars and Forums

    Science.gov (United States)

    The Center hosts a series of water finance forums. These forums bring together communities with drinking water, wastewater, and stormwater project financing needs in an interactive peer-to-peer networking format.

  10. Mergers, networking, and vertical integration: managed care and investor-owned hospitals.

    Science.gov (United States)

    Brown, M

    1996-01-01

    This article links the forces of managed care and investor-owned firms as major factors driving the industry toward consolidation into vertically integrated, merged firms, often financed with investor capital. This relentless pressure to build regional systems of health services has transformed the industry from a charitable, community orientation to one of business, market shares, and profits.

  11. 78 FR 47479 - 30-Day Notice of Proposed Information Collection: Nonimmigrant Treaty Trader/Investor Application

    Science.gov (United States)

    2013-08-05

    ...: Nonimmigrant Treaty Trader/Investor Application ACTION: Notice of request for public comment and submission to.../Investor Application OMB Control Number: OMB-1405-0101 Type of Request: Extension of a Currently Approved... Investor Estimated Number of Respondents: 41,752 Estimated Number of Responses: 41,752 Average Time per...

  12. Analysis of Factors That Affects the Investors in Conducting Business in Indonesia

    Directory of Open Access Journals (Sweden)

    Rini Kurnia Sari

    2015-10-01

    Full Text Available Investment is needed in the development of the economy. With the decentralization of investment is expected to evolve as a whole in every province in Indonesia. Local governments need to improve the quality of economic (GDP / Capita, social (HDI and the infrastructure to attract domestic and foreign investors. Fromthe test results showed that factors affecting investors conducting business in Indonesia is still influenced by GDP/capita, HDI and Infrastructure instead of natural resources.This study uses descriptive analysis and correlation analysis methods to look at the correlation factors that affect investors doing business in Indonesia.

  13. 13 CFR 107.1240 - Funding of Licensee's draw request through sale to short-term investor.

    Science.gov (United States)

    2010-01-01

    ... through sale to short-term investor. 107.1240 Section 107.1240 Business Credit and Assistance SMALL...'s draw request through sale to short-term investor. (a) Licensee's authorization of SBA to arrange sale of securities to short-term investor. By submitting a request for a draw of Debenture or...

  14. Investor sentiment, mutual fund flows and its impact on returns and volatility

    NARCIS (Netherlands)

    Lehnert, T.; Müller, A.; Frijns, B.P.M.; Beaumont, R.J.; Daele, M. van

    2008-01-01

    - Purpose – The purpose of this paper is to investigate the impact of individual investor sentiment on the return process and conditional volatility of three main US market indices (Dow Jones Industrial Average, S&P500 and Nasdaq100). Individual investor sentiment is measured by aggregate money

  15. The effect of investor-owned chain acquisitions on hospital expenses and staffing.

    Science.gov (United States)

    Manheim, L M; Shortell, S M; McFall, S

    1989-01-01

    Much concern has been raised about the effect of "corporatization" of health through the expansion of investor-owned hospital chains. One method of expansion is through hospital acquisition. At issue is the question of the effect of acquisitions on expenses and on such patient care inputs as staffing levels. In this article, we examine the effect of acquisition by one investor-owned chain on hospital costs and staffing. Subsequent to acquisition, hospital costs increase and staffing decreases, relative to competitor hospitals. However, since investor-owned hospitals not recently acquired do not have higher cost levels than their competitors, the increase in costs appears to be due to factors associated with the acquisition itself rather than factors associated with being an investor-owned hospital. Under the retrospective payment system in effect at the time, revenues also were higher for acquired hospitals. Under prospective payment, increasing revenues has been more difficult, decreasing acquisition incentives. PMID:2807933

  16. Models of Investor Forecasting Behavior — Experimental Evidence

    Directory of Open Access Journals (Sweden)

    Federico Bonetto

    2017-12-01

    Full Text Available Different forecasting behaviors affect investors’ trading decisions and lead to qualitatively different asset price trajectories. It has been shown in the literature that the weights that investors place on observed asset price changes when forecasting future price changes, and the nature of their confidence when price changes are forecast, determine whether price bubbles, price crashes, and unpredictable price cycles occur. In this paper, we report the results of behavioral experiments involving multiple investors who participated in a market for a virtual asset. Our goal is to study investors’ forecast formation. We conducted three experimental sessions with different participants in each session. We fit different models of forecast formation to the observed data. There is strong evidence that the investors forecast future prices by extrapolating past price changes, even when they know the fundamental value of the asset exactly and the extrapolated forecasts differ significantly from the fundamental value. The rational expectations hypothesis seems inconsistent with the observed forecasts. The forecasting models of all participants that best fit the observed forecasting data were of the type that cause price bubbles and cycles in dynamical systems models, and price bubbles and cycles ended up occurring in all three sessions.

  17. Warren Buffett, the intelligent investor

    OpenAIRE

    Popescu, D.

    2010-01-01

    Starting from the difficult economic conditions in Romania, the paper identifies the qualities of an intelligent investor on the background of the economic and financial crisis by presenting Warren Buffet’s strategy and action in the recent times. The conclusion is that Warren Buffet remains in the economic history as the most atypical capitalist that Americans have ever had and his behaviour could be successfully followed by the Romanian business men.

  18. Ambiguity towards Multiple Historical Performance Information Signals: Evidence from Indonesian Open-Ended Mutual Fund Investors

    Directory of Open Access Journals (Sweden)

    Haris Pratama Loeis

    2015-10-01

    Full Text Available This study focuses on the behavior of open-ended mutual fund investors when encountered with multiple information signals of mutual fund’s historical performance. The behavior of investors can be reflected on their decision to subscribe or redeem their funds from mutual funds. Moreover, we observe the presence of ambiguity within investors due to multiple information signals, and also their reaction towards it. Our finding shows that open-ended mutual fund investors do not only have sensitivity towards past performance information signals, but also have additional sensitivity towards the ambiguity of multiple information signals. Because of the presence of ambiguity, investors give more consideration to negative information signals and the worst information signal in their investment decisions. Normal 0 false false false EN-US X-NONE X-NONE

  19. Intangible economy : How can investors deliver change in businesses? Lessons from nonprofit-business partnerships

    OpenAIRE

    Seitanidi, M M

    2007-01-01

    Investors traditionally prioritised tangible outcomes (money, land, machinery) in order to protect their financial assets. However, the intangible economy (trust, human resources, information, reputation) that co-exists draws attention to new expectations that request the continuous, active and within the public sphere involvement of investors in order to protect their assets by prioritising intangible resources. The paper argues that investors in intangible outcomes who aim to achieve c...

  20. ECNS '99 - Young scientists forum

    DEFF Research Database (Denmark)

    Ceretti, M.; Janssen, S.; McMorrow, D.F.

    2000-01-01

    The Young Scientists Forum is a new venture for ECNS and follows the established tradition of an active participation by young scientists in these conferences. At ECNS '99 the Young Scientists Forum brought together 30 young scientists from 13 European countries. In four working groups, they disc......The Young Scientists Forum is a new venture for ECNS and follows the established tradition of an active participation by young scientists in these conferences. At ECNS '99 the Young Scientists Forum brought together 30 young scientists from 13 European countries. In four working groups......, they discussed emerging scientific trends in their areas of expertise and the instrumentation required to meet the scientific challenges. The outcome was presented in the Young Scientists Panel on the final day of ECNS '99. This paper is a summary of the four working group reports prepared by the Group Conveners...

  1. PRINCIPLES OF REPRESENTATING THE DICTIONARY OF INVESTOR RELATIONS TERMS

    Directory of Open Access Journals (Sweden)

    Sarangova Tatiana Apolinarievna

    2013-05-01

    Full Text Available This article treats the problems of identification of principles of representing the vocabulary of banking terms in the field Investor Relations. The main methods of the research are literary analysis and the statistic method. The research defines term and specifics “Investor Relations”, provides a clear demarcation of terms terminography and lexicography, describes the principles of representing the vocabulary of IR terms. Results of the research can be used by IR managers, employees of finance and investment companies and banks, interpreters, teachers, postgraduates and students of economy faculties in different courses of teaching.

  2. Calisthenics with words: The effect of readability and investor sophistication on investors' performance judgment

    OpenAIRE

    Cui, Xiao Carol

    2016-01-01

    Since the 1990s, the SEC has advocated for financial disclosures to be in “plain English” so that they would be more readable and informative. Past research has shown that high readability is related to more extreme investor judgments of firm performance. Processing fluency is the prevalent theory to explain this: higher readability increases the investor’s subconscious reliance on the disclosure, so positive (negative) news leads to more positive (negative) judgments. The relationship may no...

  3. Interest and Inflation Risk: Investor Behavior

    Directory of Open Access Journals (Sweden)

    María de la O eGonzález

    2016-03-01

    Full Text Available We examine investor behavior under interest and inflation risk in different scenarios. To that end, we analyze the relation between stock returns and unexpected changes in nominal and real interest rates and inflation for the US stock market. This relation is examined in detail by breaking the results down from the US stock market level to sector, sub-sector and to individual industries as the ability of different industries to absorb unexpected changes in interest rates and inflation can vary by industry and by contraction and expansion sub-periods. While most significant relations are conventionally negative, some are consistently positive. This suggests some relevant implications on investor behavior. Thus, investments in industries with this positive relation can form a safe haven from unexpected changes in real and nominal interest rates. Gold has an insignificant beta during recessionary conditions hinting that Gold can be a safe haven during recessions. However, Gold also has a consistent negative relation to unexpected changes in inflation thereby damaging the claim that Gold is a hedge against inflation.

  4. Interest and Inflation Risk: Investor Behavior

    Science.gov (United States)

    González, María de la O; Jareño, Francisco; Skinner, Frank S.

    2016-01-01

    We examine investor behavior under interest and inflation risk in different scenarios. To that end, we analyze the relation between stock returns and unexpected changes in nominal and real interest rates and inflation for the US stock market. This relation is examined in detail by breaking the results down from the US stock market level to sector, sub-sector, and to individual industries as the ability of different industries to absorb unexpected changes in interest rates and inflation can vary by industry and by contraction and expansion sub-periods. While most significant relations are conventionally negative, some are consistently positive. This suggests some relevant implications on investor behavior. Thus, investments in industries with this positive relation can form a safe haven from unexpected changes in real and nominal interest rates. Gold has an insignificant beta during recessionary conditions hinting that Gold can be a safe haven during recessions. However, Gold also has a consistent negative relation to unexpected changes in inflation thereby damaging the claim that Gold is a hedge against inflation. PMID:27047418

  5. Interest and Inflation Risk: Investor Behavior.

    Science.gov (United States)

    González, María de la O; Jareño, Francisco; Skinner, Frank S

    2016-01-01

    We examine investor behavior under interest and inflation risk in different scenarios. To that end, we analyze the relation between stock returns and unexpected changes in nominal and real interest rates and inflation for the US stock market. This relation is examined in detail by breaking the results down from the US stock market level to sector, sub-sector, and to individual industries as the ability of different industries to absorb unexpected changes in interest rates and inflation can vary by industry and by contraction and expansion sub-periods. While most significant relations are conventionally negative, some are consistently positive. This suggests some relevant implications on investor behavior. Thus, investments in industries with this positive relation can form a safe haven from unexpected changes in real and nominal interest rates. Gold has an insignificant beta during recessionary conditions hinting that Gold can be a safe haven during recessions. However, Gold also has a consistent negative relation to unexpected changes in inflation thereby damaging the claim that Gold is a hedge against inflation.

  6. Predicting Individual Investors- Intention to Invest: An Experimental Analysis of Attitude as a Mediator

    OpenAIRE

    Azwadi Ali

    2011-01-01

    The survival of publicly listed companies largely depends on their stocks being liquidly traded. This goal can be achieved when new investors are attracted to invest on companies- stocks. Among different groups of investors, individual investors are generally less able to objectively evaluate companies- risks and returns, and tend to be emotionally biased in their investing decisions. Therefore their decisions may be formed as a result of perceived risks and returns, and ...

  7. 78 FR 30346 - Financial Investors Trust and Hanson McClain Strategic Advisors, Inc.; Notice of Application

    Science.gov (United States)

    2013-05-22

    ...] Financial Investors Trust and Hanson McClain Strategic Advisors, Inc.; Notice of Application May 15, 2013... instruments. Applicants: Financial Investors Trust (the ``Trust''), on behalf of the Pathway Advisors... consistent with the public interest and the protection of investors. Applicants seek an exemption under...

  8. Warren Buffett, the intelligent investor

    Directory of Open Access Journals (Sweden)

    Popescu, D.

    2010-12-01

    Full Text Available Starting from the difficult economic conditions in Romania, the paper identifies the qualities of an intelligent investor on the background of the economic and financial crisis by presenting Warren Buffet’s strategy and action in the recent times. The conclusion is that Warren Buffet remains in the economic history as the most atypical capitalist that Americans have ever had and his behaviour could be successfully followed by the Romanian business men.

  9. Pengaruh Perilaku Follower Investor pada Volatilitas Saham

    Directory of Open Access Journals (Sweden)

    Made Dewi Ayu Untari

    2017-02-01

    Full Text Available The purposes of this study are to obtain emperical evidence about the influence of followers investor’s behaviour to the stock volatility and analyze the difference offollowers investor’s betweenindustry sectors producing raw materials,manufacture industry and service industry in the Indonesia Stock Exchange (BEI, during the market crash happened in Indonesia. The population number are 507 companies, while the total sample of 247 companies. Sampling technique used purposive sampling. The analysis technique used was a cross-sectional absolute Deviation (CSADand test One Way ANOVA with Post Hoc Test and Least Significant Difference (LSD. Data shows that the behavior of follower investors has positive effect on the volatility of the current stock market crash occurs. Meanwhile, there was no difference in behavior between the follower investor industrial sectors producing raw materials, the manufacturing sector and the service sector when  the market crash.

  10. Report of a Policy Forum: Weather, Climate, and Energy

    Energy Technology Data Exchange (ETDEWEB)

    None

    2002-07-01

    The report of a policy forum on Weather, Climate, and Energy presents findings and recommendations that, if implemented, could position the energy sector, the providers of weather and climate science and services, and energy consumers to mange more cooperatively and effectively the production, distribution, and consumption of electrical power and fossil fuels. Recent U.S. experience with a series of energy shortages encouraged the AMS Atmospheric Policy Program to join with the University of Oklahoma in the development of a forum to address the issues connected with responding to those shortages. Nearly 100 representatives from the public, private, and academic portions of the energy production sector, the meteorological community, political and corporate leaders, weather risk management analysts, and policy makers met on October 16-17, 2001 to discuss these policy issues.

  11. Finding Question-Answer Pairs from Online Forums

    DEFF Research Database (Denmark)

    Cong, Gao; Wang, Long; Lin, Chin-Yew

    2008-01-01

    Online forums contain a huge amount of valuable user generated content. In this paper we address the problem of extracting question-answer pairs from forums. Question-answer pairs extracted from forums can be used to help Question Answering services (e.g. Yahoo! Answers) among other applications...

  12. Analysis of Ineffectiveness Arising in “Investor-government” Relations

    Directory of Open Access Journals (Sweden)

    Dmytro B. Sokolovskyi

    2015-09-01

    Full Text Available Purpose: This article deals with the problem of forming Pareto non-optimal norms of mutual behavior of investors and government in the process of decision-making related to financing designed to reduce risks in investment activity. Methodology: Considering the interdependent type (nature of interactions between related parties, game theory tools were used to model such interactions. Much attention was directed to search for  parameters of interaction leading to certain Nash equilibriums in pure strategies. The formal results obtained with the model were verified by statistical analysis. Findings: Analysis showed that the rational behavior of related parties can lead to unexpected results. Powerful investors will aim to work in socially-oriented economies, whereas primarily small investors will operate in most liberal economies with a minimum tax burden but with a higher level of risk. As for governments’ behaviors, the images are the same: small economies tend to liberalize their tax systems and to secure investment faster than powerful ones. Empirical verification based on statistical data of groups of countries generally confirmed the conclusions. These formal and logical conclusions were from statistical analysis of 124 countries divided into 5 groups: OECD countries, post-socialist countries, Latin American countries, APAC countries and ACP countries. Provided that the more powerful ones are covered economies, there was stronger interdependence between the size of economies and tax burden and also between total investment and tax burden, where this dependence is positive. Originality: The results obtained used Nash equilibriums in pure strategies as models of behavioral norms to define behaviors of related parties and also to explain assumptions concerning the behaviors of investors and government.

  13. Market Segmentation, Information Asymmetry and Investor Responses in the Chinese A- and B- Markets

    Directory of Open Access Journals (Sweden)

    Juan Yao

    2014-03-01

    Full Text Available This paper examines changes in returns and trading volumes around earnings announcements for firms which have both A-shares (traditionally for local investors only and B-shares (traditionally for foreign investors only in China. It considers the impact of regulatory changes which reduced the segmentation of local and foreign investors across the two classes of shares. We find that both the A- and B-markets experience significant price changes around earning announcements. When the two markets are fully segmented, the magnitude of price changes in the A-share market are significantly smaller than the B-market which lends empirical support to the previous claim that the B-market is less informed. The changes in trading volume indicate that the B-market investors have less divergent expectations and interpretations of the pre-disclosure information compared to the A-market investors.However, when regulatory changes reduced the level of segmentation, the price and volume reactions in the two markets became more consistent. The results suggest that the A- and Bmarkets are more integrated as a result of the regulatory changes.

  14. Loss Aversion: A Comparison of Investment Decision Making Between Individual Investors and Pension Funds in Brazil

    Directory of Open Access Journals (Sweden)

    William Eid Junior

    2009-08-01

    Full Text Available This article compares the application of a loss aversion utility function with a traditional Von Neumann-Morgenstern utility function aiming to test whether the first form of utility could better replicate the actual behavior of Brazilian investors concerning the choice of optimum investment portfolio. The results generated by both functions, in terms of stock market participation in the optimum investment portfolio, are compared with real aggregate data from two types of Brazilian investors (pension funds and individual investors. The analysis indicates that: i the traditional utility function should be rejected as an adequate model to replicate Brazilian individual investors behavior in the stock market; and ii Brazilian individual investors behavior are better replicated by a loss aversion utility function.

  15. The evolving cobweb of relations among partially rational investors

    Science.gov (United States)

    DiMeglio, Anna; Garofalo, Franco; Lo Iudice, Francesco

    2017-01-01

    To overcome the limitations of neoclassical economics, researchers have leveraged tools of statistical physics to build novel theories. The idea was to elucidate the macroscopic features of financial markets from the interaction of its microscopic constituents, the investors. In this framework, the model of the financial agents has been kept separate from that of their interaction. Here, instead, we explore the possibility of letting the interaction topology emerge from the model of the agents’ behavior. Then, we investigate how the emerging cobweb of relationship affects the overall market dynamics. To this aim, we leverage tools from complex systems analysis and nonlinear dynamics, and model the network of mutual influence as the output of a dynamical system describing the edge evolution. In this work, the driver of the link evolution is the relative reputation between possibly coupled agents. The reputation is built differently depending on the extent of rationality of the investors. The continuous edge activation or deactivation induces the emergence of leaders and of peculiar network structures, typical of real influence networks. The subsequent impact on the market dynamics is investigated through extensive numerical simulations in selected scenarios populated by partially rational investors. PMID:28196144

  16. Fractal markets: Liquidity and investors on different time horizons

    Science.gov (United States)

    Li, Da-Ye; Nishimura, Yusaku; Men, Ming

    2014-08-01

    In this paper, we propose a new agent-based model to study the source of liquidity and the “emergent” phenomenon in financial market with fractal structure. The model rests on fractal market hypothesis and agents with different time horizons of investments. What is interesting is that though the agent-based model reveals that the interaction between these heterogeneous agents affects the stability and liquidity of the financial market the real world market lacks detailed data to bring it to light since it is difficult to identify and distinguish the investors with different time horizons in the empirical approach. results show that in a relatively short period of time fractal market provides liquidity from investors with different horizons and the market gains stability when the market structure changes from uniformity to diversification. In the real world the fractal structure with the finite of horizons can only stabilize the market within limits. With the finite maximum horizons, the greater diversity of the investors and the fractal structure will not necessarily bring more stability to the market which might come with greater fluctuation in large time scale.

  17. Short-horizon regulation for long-term investors

    NARCIS (Netherlands)

    Shi, Z.; Werker, B.J.M.

    2012-01-01

    We study the effects of imposing repeated short-horizon regulatory constraints on long-term investors. We show that Value-at-Risk and Expected Shortfall constraints, when imposed dynamically, lead to similar optimal portfolios and wealth distributions. We also show that, in utility terms, the costs

  18. Climate finance, climate investors and assets for low emission development

    Directory of Open Access Journals (Sweden)

    Collins C Ngwakwe

    2015-05-01

    Full Text Available This research examines the relationship between climate finance, growth in climate investors and growth in climate assets for low emission development. It also evaluates the effect of climate policy evolution on the growth of climate investors and climate assets. Adopting a positivist paradigm, the paper makes use of a quantitative research approach and applies the causal and correlational research design. The paper made use of secondary data from the World Bank Carbon Finance Unit and from the Carbon Disclosure Project (ADP. The major objective was to examine the combined effect of climate finance and climate policy on the growth of carbon investors and carbon assets for the companies in the Carbon Disclosure Project which includes the 100 JSE companies. Findings from the test reveal that the combined effect of growth in climate finance and climate policy evolution has a significant relationship with growth in climate investors and climate assets. Given this result the paper proceeded to examine if the growth in climate finance has any correlation with South Africa’s emission reduction trend. Results however indicate that South Africa’s GHG emission trend does not correlate with climate finance availability; GHG emissions in South Africa have continued to soar despite a seeming growth in climate finance. The paper reasoned that the global climate finance might not be effectively available to corporates in South Africa at the expected level of financing to initiate the expected level of climate investment to effect a significant reduction in greenhouse gas emissions. This confirms literature assertions that global climate finance might not easily be accessible, at least to entities in developing countries. In conclusion, the paper suggests the establishment of a Southern African Climate Finance pool where the public and private sector can contribute and that such pool should be made easily available to carbon investors at a cheap rate with

  19. 13 CFR 107.1550 - Distributions by Licensee-permitted “tax Distributions” to private investors and SBA.

    Science.gov (United States)

    2010-01-01

    ...-permitted âtax Distributionsâ to private investors and SBA. 107.1550 Section 107.1550 Business Credit and... Distributions” to private investors and SBA. If you have outstanding Participating Securities or Earmarked... purposes, you may make “tax Distributions” to your investors in accordance with this § 107.1550, whether or...

  20. Behaviour of Follower Investor in the Formation of Stock’s Price on Market Crash

    OpenAIRE

    I Gusti Ayu Nyoman Budiasih; Made Dewi Ayu Untari; I Made Sadha Suardikha; I Ketut Suryanawa

    2017-01-01

    This study is aimed to get empirical evidence about the indications of behavior of follower investor in the formation of stock's prices in the Indonesian Stock Exchange (BEI) when the event market crash occured. As well as aiming to analyze whether the behavior of follower investor can be called irrational behavior by looking at the difference in behavior of follower investor on each sector in IDX. This study uses secondary data in the form of stock's closing price and Indonesia Composite Ind...

  1. On Algorithmic Portfolio Optimization for a Momentum Investor - a Stochastic Programming Approach with Moment-Matching Scenario Generation

    OpenAIRE

    Rønning, Håkon Sverre

    2016-01-01

    Momentum strategies based on continuation patterns in equity prices have attracted a wide following among money managers and financial investors attempting to exploit anomalies present in the stock market. In this thesis, we first perform out-of-sample tests of four long-only momentum strategies, one contrarian strategy and one low-volatility investment strategy on US and Norwegian equity samples. We find the momentum and contrarian strategies to yield statistically significant abnormal retu...

  2. The effect of differentiated margin on futures market investors' behavior and structure An experimental research

    Institute of Scientific and Technical Information of China (English)

    Jin-hui Luo; Di-fang Wan; Yang Yang; Guang Yang

    2011-01-01

    Purpose-The purpose of this paper is to empirically analyze the role of differentiated margin system in leading investors' investing behavior and then optimize investor structure in futures markets.Design/methodology/approach-Using economic experimental research method,this paper designs and conducts a futures market experiment according to experimental research's basic norms,thus acquiring needed and credible empirical data.Findings-By analyzing the experimental data,it is found that compared with situations in futures markets that implement uniform margin system,investors' (especially speculators') futures open position and the ratio of their open position and futures turnover are both significantly higher,in futures markets that implement differentiated margin system.On the other hand,differentiated margin system has no effects on hedgers' futures turnover,but significantly reduces speculators' futures turnover.Research limitations/implications-The findings suggest that compared with uniform margin system,differentiated margin system is beneficial to effectively restrict both speculators' and hedgers' speculating behavior and lead hedgers' market participation.Practical implications-In order to resolve the problem of unreasonable investor structure in China's futures market,i.e.lack of hedgers and over-speculating China's futures market's regulators should reform the margin system and adopt differentiated margin system to lead investors' rational behavior and optimize investor structure.Originality/value-This paper empirically analyzes and verifies,for the first time,the roles of differentiated margin system in affecting investors' investing behavior.The futures market experiment designed and used in this study is a pioneering and exploratory experiment.

  3. Understanding user intents in online health forums.

    Science.gov (United States)

    Zhang, Thomas; Cho, Jason H D; Zhai, Chengxiang

    2015-07-01

    Online health forums provide a convenient way for patients to obtain medical information and connect with physicians and peers outside of clinical settings. However, large quantities of unstructured and diversified content generated on these forums make it difficult for users to digest and extract useful information. Understanding user intents would enable forums to find and recommend relevant information to users by filtering out threads that do not match particular intents. In this paper, we derive a taxonomy of intents to capture user information needs in online health forums and propose novel pattern-based features for use with a multiclass support vector machine (SVM) classifier to classify original thread posts according to their underlying intents. Since no dataset existed for this task, we employ three annotators to manually label a dataset of 1192 HealthBoards posts spanning four forum topics. Experimental results show that a SVM using pattern-based features is highly capable of identifying user intents in forum posts, reaching a maximum precision of 75%, and that a SVM-based hierarchical classifier using both pattern and word features outperforms its SVM counterpart that uses only word features. Furthermore, comparable classification performance can be achieved by training and testing on posts from different forum topics.

  4. Generating capital: improving investor confidence in Ontario's electricity industry to induce new generation investment

    International Nuclear Information System (INIS)

    Van Beers, R.

    2004-01-01

    This paper is a critical discussion on improving investor confidence in Ontario's electricity industry to induce new generation investment. The reason that investor confidence is critical in the electric power industry is due to the fact that the industry is capital intensive, the asset life is long, it is impossible to model political/regulatory risk and political action is virtually inevitable. The paper concludes that ultimately private sector investors will bear little risk, the tax payer will be on the hook for almost all risk

  5. Westinghouse Savannah River Site vendor forum: An innovative cooperative technology development success

    International Nuclear Information System (INIS)

    Sturm, H.F. Jr.

    1996-01-01

    The Westinghouse Savannah River Company (WSRC) Supplier Environmental and Waste Management Information Exchange Forum was held August 31 - September 1, 1993. The forum, which was planned and conducted in concert with the Department of Energy Savannah River Operations Office (DOE-SROO), was held to foster a technical exchange in which new, innovative technologies were proposed by suppliers, to identify more cost-effective methods to apply to future and on-going activities, to increase use of the private sector, and to promote partnerships with other industries. The two day forum provided the opportunity for WSRC and DOE-SR to review program activities and challenges in five major areas, Savannah River Technology Center, Solid Waste Facilities, Environmental Restoration, Environmental Monitoring, and Decontamination and Decommissioning through formal presentations. The second day was designed to provide suppliers the opportunity to talk about current and future activities and challenges with representatives of each of these areas at display booths, special high interest topic interactive sessions, and site tours. Each attendee was then invited to submit pre-proposals relative to the abstracts presented in The Special Consolidate Solicitation for Environmental and Waste Management Basic and Applied Research and Research-Related Development and/or Demonstration No. E10600-E1 document. Twenty-five contracts totaling $12 million were awarded. Twenty-four contracts have now been completed. This paper provides an overview of the pre forum activities, the forum, post-forum and proposal review process, and most importantly a description of the technologies demonstrated, the benefits and savings derived, and future use potential from a DOE perspective, as well as technology transfer and industrial partnership potential

  6. Disadvantageous Situation of Retail Investors in Equity Crowdfunding

    Institute of Scientific and Technical Information of China (English)

    Shuanglong Wan

    2017-01-01

    This essay focuses on the onerous situation of retail investors in the proliferating equity crowdfunding. It points out and explains in detail four aspects of situation: insufficient information, misleading information, weak bargaining power and low liqui

  7. Relevant factors to consider prior to an investor-owned acquisition of a nonprofit healthcare entity.

    Science.gov (United States)

    Ault, Kelvin; Childs, Brad; Wainright, Charles F; Young, Marilyn

    2011-01-01

    The purpose of this article is to explore the factors that affect the negotiations for an acquisition of a nonprofit system by an investor-owned entity. The recent economic downturn, accompanying credit crisis, and healthcare reform legislation will likely encourage and accelerate the pace of merger and acquisition (M&A) transactions between investor-owned entities and nonprofit hospitals. As many nonprofits are smaller, more financially vulnerable, and more limited in their access to capital than their investor-owned counterparts, nonprofits could be prime targets for investor-owned acquirers during the healthcare reform implementation period. In M&A transactions of this type, the investor-owned acquirer typically is motivated to pursue an acquisition when the deal promises an acceptable return on investment and decreased operating costs from economies of scale. Alternatively, the nonprofit target is typically seeking funding for upgrades to facilities and information technology systems as well as a continued commitment to charity care and managed-care contracting leverage. A successful acquisition of a nonprofit hospital by an investor-owned company requires a careful analysis of relevant tax, economic, and strategic factors prior to closing the deal. This article lists the most significant factors to consider in these deals and explains how these factors should influence the purchase price and postacquisition cash flow.

  8. Risk Measurement of Equity Markets and Private Investor Behaviour

    Directory of Open Access Journals (Sweden)

    Stanislav Škapa

    2013-11-01

    Full Text Available Purpose of this article: The aim of this paper is to evaluate and determine risk profile of equities markets and conclude consequency for private investor portfolios. There is summarized broad issue of risk measuremen with a focuse on downside risk measurement principle and giving into context with expected utility theory and loss aversion theory. Methodology/methods: The suitable statistical methods (mainly robust statistical methods have been used for estimation of selected characteristics and ratios. There is used a computer intensive method (a bootstrap method for estimating risk characteristics for equity markets, indicators and ratios. Scientific aim: The main scientific aim is to use a complex of more sophisticated and theoretically advanced statistical techniques and apply them on on the finding of the expected utility theory and the loss aversion theory. Findings: A main finding should be reckon a using of results of loss aversion theory applied into empirical evidence of risk profile of equity markets which led to the finding that more reliable and more suitable evaluation of risk of equity markets is downside risk and Sortino ratio from the perpective of private investor. Conclusion: Using downside risk measurement is revealing as it lays bare the “true” risk of investing in stock markets mainly for risk averse private investors. A bootstrap method with down side risk metric can evaluate risk in more appropriate way, and it is also more suitable if statistical characteristics do not fulfil a normal distribution assumption (mostly because of fat tails or outliers. And lastly in general, investors in emerging market (e.g. Visegrad´s countries are rewarded with higher return, but if things go wrong, the damage can be severe and detrimental to performance.

  9. 75 FR 58012 - 30-Day Notice of Proposed Information Collection: DS-156E Nonimmigrant Treaty Trader/Investor...

    Science.gov (United States)

    2010-09-23

    ... Information Collection: DS-156E Nonimmigrant Treaty Trader/Investor Application ACTION: Notice of request for... Collection: Nonimmigrant Treaty Trader/Investor Application. OMB Control Number: 1405-0101. Type of Request... State (CA/VO). Form Number: DS-156E. Respondents: Nonimmigrant treaty trader/investor visa applicants...

  10. 75 FR 25910 - 60-Day Notice of Proposed Information Collection: DS-156E, Nonimmigrant Treaty Trader/Investor...

    Science.gov (United States)

    2010-05-10

    ..., Nonimmigrant Treaty Trader/Investor Application, OMB Control Number 1405-0101 ACTION: Notice of request for...: Nonimmigrant Treaty Trader/Investor Application. OMB Control Number: 1405-0101. Type of Request: Extension of a...) Form Number: DS-156E. Respondents: Nonimmigrant treaty trader/investor visa applicants. Estimated...

  11. Academic Leadership Forum on Faculty Workload, Engagement, and Development. Executive Summary

    Science.gov (United States)

    WCET, 2011

    2011-01-01

    A select group of academic officers and deans from institutions (all sectors) whose programs are primarily online and whose teaching faculty differ considerably from traditional faculty participated in the Academic Leadership Forum, October 26, 2011, held in conjunction with WCET's (WICHE Cooperative for Educational Technologies') Annual Meeting.…

  12. Risk reduction of international mining projects by means of investor consortia and diversification of external financing

    International Nuclear Information System (INIS)

    Kirchner, C.

    1982-01-01

    Investors and creditors of international mining projects bear specific risks which may be reduced by means of forming investor and financing consortia. Risk is defined for each actor separately. Project risk and investor risk respectively credit risk are useful categories in order to analyze risk reduction. In each case formation of consortia has a positive influence on the economic viability of the project, and thus reduces the project risk. Furthermore, formation of consortia leads to better compliance of the host country of the mining project with the project and financing agreements. Thus, investor and credit risk may be reduced. (orig.) [de

  13. PENGARUH ILLUSIONS OF CONTROL, OVERCONFIDENCE DAN EMOTION TERHADAP PENGAMBILAN KEPUTUSAN INVESTASI PADA INVESTOR DI YOGYAKARTA

    OpenAIRE

    Kartini, Kartini; Nugraha, Nuris Firmansyah

    2015-01-01

    Nowadays Investors often make investment decision irrationally. The decision is often based on their judgment that is far away from rational assumption. When investors face risky situa-tion, there are some objectivities, emotions, and other psychological factors that usually ef-fect their decision making. This purpose of study is to examine the effect of illusions of control, risk tolerance, overconfidence and emotion on investment decision making among investors in yogyakarta. Sample of this...

  14. The Czechoslovak nuclear forum

    International Nuclear Information System (INIS)

    Kadlec, J.

    1992-01-01

    The Czechoslovak Nuclear Forum is a civic initiative that is involved with the safe, economically efficient and generally acceptable development of nuclear power. Its efforts are aimed at incorporation into a broader European context. The Forum is a FORATOM member organization. Its activities are intended to contribute to the establishment of a favorable climate for a further progress of nuclear power in elected bodies (Parliament, municipal and district authorities), in mass media and among the public. (M.D.)

  15. The development of the Asian Forum for Polar Sciences (AFoPS)

    Science.gov (United States)

    Kim, Yeadong; Jeong, Jihoon

    2015-12-01

    The Asian Forum for Polar Sciences (AFoPS), an international forum of Asian polar research institutes, was established for the advancement of polar sciences among its members in 2004. The Forum has served as an important medium of Asian collective endeavors for polar affairs in human and information exchange, research collaboration, and logistics cooperation for the last decade. The historical development of the AFoPS in retrospect can be divided into four phases: inception and establishment (2003-2004), growth and expansion (2005-2007), review and restructuring (2008-2011), and achievements and further measures (2012-2014). The progress of the AFoPS has not been linear and this trend will continue into the next decades. The Forum, however, clearly made achievements in this period of time, realizing multilateral research and logistics cooperation that would have been previously unimaginable; by doing so, it has laid the foundation for the future. Responsible for a great portion of the world's polar activities, the AFoPS will rise to meet the expectations of the world by producing notable research output, initiating international cooperative programs, and supporting non-polar Asian countries with education and research collaboration. These are the tasks of the AFoPS for the next decade and they require strategy that promotes and facilitates collaboration in a practical way and draws attention of non-polar Asian countries to the polar sciences.

  16. What are retail investors' risk-return preferences towards renewable energy projects? A choice experiment in Germany

    International Nuclear Information System (INIS)

    Salm, Sarah; Hille, Stefanie Lena; Wüstenhagen, Rolf

    2016-01-01

    Citizens own nearly half the renewable energy generation capacity in Germany and have been important drivers of the country's energy transition. In contrast to citizens' important role in financing renewable energies, the energy policy and economics literature has traditionally focused on other investors, such as incumbent energy firms. To close this gap, this paper reports on a large-scale survey of 1,990 German retail investors. Conducting a choice experiment with the subset of 1,041 respondents who expressed an interest in investing in community renewable energy projects, we present a unique dataset allowing for new insights in risk-return expectations of retail investors. We find that apart from return on investment, respondents are particularly sensitive to the minimum holding period and the issuer of community renewable energy investment offerings. A minimum holding period of 10 years implies a risk premium of 2.76% points. A subsequent segmentation analysis shows that two groups of potential community renewable energy investors with different risk-return expectations can be identified: “local patriots” and “yield investors”. In contrast to professional investors, a majority of retail investors use simple decision rules such as calculating payback time or relying on their gut feeling when making investments. - Highlights: • Out of 1,990 retail investors surveyed, 1,041 express interest to invest in renewables. • Two target segments are identified, “local patriots” and “yield investors”. • “Local patriots” are willing to forgo return on investment in local projects. • Solar photovoltaic is most popular technology, followed by wind and small hydro. • Majority of investors use simple payback calculation or decide intuitively.

  17. London International Youth Science Forum

    Science.gov (United States)

    Auty, Geoff

    2010-01-01

    In this article, the author discusses the 2010 London International Youth Science Forum (LIYSF) and shares his experience in attending the forum. Unlike the Harry Messel event in Sydney, which takes place every two years, LIYSF is an annual event. Before moving to Imperial College London, LIYSF was held at the Institute of Electrical Engineers and…

  18. The Cosmetic Ingredient Review Program-Expert Safety Assessments of Cosmetic Ingredients in an Open Forum.

    Science.gov (United States)

    Boyer, Ivan J; Bergfeld, Wilma F; Heldreth, Bart; Fiume, Monice M; Gill, Lillian J

    The Cosmetic Ingredient Review (CIR) is a nonprofit program to assess the safety of ingredients in personal care products in an open, unbiased, and expert manner. Cosmetic Ingredient Review was established in 1976 by the Personal Care Products Council (PCPC), with the support of the US Food and Drug Administration (USFDA) and the Consumer Federation of America (CFA). Cosmetic Ingredient Review remains the only scientific program in the world committed to the systematic, independent review of cosmetic ingredient safety in a public forum. Cosmetic Ingredient Review operates in accordance with procedures modeled after the USFDA process for reviewing over-the-counter drugs. Nine voting panel members are distinguished, such as medical professionals, scientists, and professors. Three nonvoting liaisons are designated by the USFDA, CFA, and PCPC to represent government, consumer, and industry, respectively. The annual rate of completing safety assessments accelerated from about 100 to more than 400 ingredients by implementing grouping and read-across strategies and other approaches. As of March 2017, CIR had reviewed 4,740 individual cosmetic ingredients, including 4,611 determined to be safe as used or safe with qualifications, 12 determined to be unsafe, and 117 ingredients for which the information is insufficient to determine safety. Examples of especially challenging safety assessments and issues are presented here, including botanicals. Cosmetic Ingredient Review continues to strengthen its program with the ongoing cooperation of the USFDA, CFA, the cosmetics industry, and everyone else interested in contributing to the process.

  19. The role of investor protection in corporate governance and accounting harmonization: Cross-country analysis in Asia

    Directory of Open Access Journals (Sweden)

    Ratna Wardhani

    2015-08-01

    Full Text Available The purpose of this research is to analyze the effect of law system for investor protection on implementation of corporate governance at company level and degree of convergence of local accounting standards to IFRS (International Financial Reporting Standards. The result shows that investor protection has positive effect on implementation of corporate governance and degree of convergence of local standard to IFRS. The evidence is consistent with the argument that firm can establish law environment well for their own, but the quality of corporate investor protection via implementation of corporate governance mechanisms will depend on efficiency of judicial system of the country where the firm operates; and the quality of accounting standard in one country is a signal of country’s commitment to investor protection in order to provide good protection for its investor; a country will tend to adopt higher quality of accounting standard to ensure financial reporting transparency. This indicates that investor protection can be the key to the quality of other governance mechanisms, both at institutional level such as accounting standards, and also at firm level such as corporate governance implementation.

  20. Asynchronous Distance Education Forum - Brainstorming vs. Snowballing: A Case Study for Teaching in Programming Didactics

    Science.gov (United States)

    Patriarcheas, Kiriakos; Xenos, Michalis

    Asynchronous discussion fora all the more become part of the educational process of distance education. The goal of this research is the study of the educational techniques of Brainstorming and Snowballing to their utilisation in the frame of a distance education forum, both as far as participation and creation of learning environment and also educational effectiveness are concerned. This research refers to computer teachers’ training on didactics of programming within the framework of educational micro-worlds. As it is deduced from the data analysis and the study of the messages higher participation and improvement of critical thinking are noted when Brainstorming technique is used, while fairly less time is spent and less off-topic interventions are made when Snowballing technique is used. Meanwhile, Brainstorming is found to be more advantageous than Snowballing concerning the effectiveness both in primary level (trained teachers) and in secondary level of adaptation and knowledge impartment to the students (results of their students).

  1. Practical guidelines for qualitative research using online forums.

    Science.gov (United States)

    Im, Eun-Ok; Chee, Wonshik

    2012-11-01

    With an increasing number of Internet research in general, the number of qualitative Internet studies has recently increased. Online forums are one of the most frequently used qualitative Internet research methods. Despite an increasing number of online forum studies, very few articles have been written to provide practical guidelines to conduct an online forum as a qualitative research method. In this article, practical guidelines in using an online forum as a qualitative research method are proposed based on three previous online forum studies. First, the three studies are concisely described. Practical guidelines are proposed based on nine idea categories related to issues in the three studies: (a) a fit with research purpose and questions, (b) logistics, (c) electronic versus conventional informed consent process, (d) structure and functionality of online forums, (e) interdisciplinary team, (f) screening methods, (g) languages, (h) data analysis methods, and (i) getting participants' feedback.

  2. A psicologia do mercado acionário: representações sociais de investidores da BOVESPA sobre as oscilações dos preços The stock market psychology: social representations of BOVESPA investors about oscillation of prices

    Directory of Open Access Journals (Sweden)

    Tatiana Renaux Tomaselli

    2007-12-01

    Full Text Available Diferentes formas de entender o ser humano levam a psicologia e a economia a diferentes concepções do mercado acionário. Este artigo utiliza-se da teoria das representações sociais para entender esta prática social a partir dos próprios investidores. Partindo da teoria das representações sociais e contribuições de alguns estudos cognitivos aplicados ao campo da tomada de decisão, pudemos compreender a visão do grupo estudado. Foram analisados 94 fóruns de discussão, onde foram identificados 317 investidores. Nossas conclusões mostram que para o grupo investigado o mercado é formado por pessoas em relação, e a oscilação dos preços é atribuída à disputa entre grandes e pequenos investidores.Different ways to understand the human being have taken economy and psychology to different conceptions of stock market. This article has used the social representation theory to understand this social practice applied by the investors themselves. Starting from the social representations theory and some cognitive studies about decision making, we achieved the group's point of view. We analyzed 94 discussion forums in which 317 investors have been identified. Our conclusion shows that for the examined group the market is formed by people in interaction and prices' oscillation is attributed to the competition among big and small investors.

  3. 76 FR 71081 - Public Aircraft Oversight Safety Forum

    Science.gov (United States)

    2011-11-16

    ... NATIONAL TRANSPORTATION SAFETY BOARD Public Aircraft Oversight Safety Forum The National Transportation Safety Board (NTSB) will convene a Public Aircraft Oversight Safety Forum which will begin at 9 a... ``Public Aircraft Oversight Forum: Ensuring Safety for Critical Missions'', are to (1) raise awareness of...

  4. The investor behavior and futures market volatility A theory and empirical study based on the OLG model and high-frequency data

    Institute of Scientific and Technical Information of China (English)

    Yun Wang; Renhai Hua; Zongcheng Zhang

    2011-01-01

    Purpose-The purpose of this paper is to examine whether the futures volatility could attect the investor behavior and what trading strategy different investors could adopt when they meet different information conditions.Design/methodology/approach-This study introduces a two-period overlapping generation model (OLG) model into the future market and set the investor behavior model based on the future contract price,which can also be extended to complete and incomplete information.It provides the equilibrium solution and uses cuprum tick data in SHFE to conduct the empirical analysis.Findings-The two-period OLG model based on the future market is consistent with the practical situation;second,the sufficient information investors such as institutional adopt reversal trading patterns generally;last,the insufficient information investors such as individual investors adopt momentum trading patterns in general.Research limitations/implications-Investor trading behavior is always an important issue in the behavioral finance and market supervision,but the related research is scarce.Practical implications-The conclusion shows that the investors' behavior in Chinese future market is different from the Chinese stock market.Originality/value-This study empirically analyzes and verifies the different types of trading strategies investors could;investors such as institutional ones adopt reversal trading patterns generally;while investors such as individual investors adopt momentum trading patterns in general.

  5. Behaviour of Follower Investor in the Formation of Stock’s Price on Market Crash

    Directory of Open Access Journals (Sweden)

    I Gusti Ayu Nyoman Budiasih

    2017-09-01

    Full Text Available This study is aimed to get empirical evidence about the indications of behavior of follower investor in the formation of stock’s prices in the Indonesian Stock Exchange (BEI when the event market crash occured. As well as aiming to analyze whether the behavior of follower investor can be called irrational behavior by looking at the difference in behavior of follower investor on each sector in IDX. This study uses secondary data in the form of stock’s closing price and Indonesia Composite Index (IHSG companies listed on the BEI Stock Exchange during 2010-2013 by accessing the website www.idx.co.id, www.finance.yahoo.com, and www.ksei.co.id. Total populations are 507 companies, while the total samples are 350 companies. The analysis technique used is Cross-sectional Absolute Deviation (CSAD to detect the behavior of follower investor in the formation of stock price and One Way ANOVA test with Post Hoc Test and Least Significant Difference (LSD to analyze the irrationallity in follower investor’s behavior. The analysis showed that there were indications follower investor’s behavior in the stock’s price formation and proved that behavior of follower investor is an irrational behavior.

  6. Can investor sentiment be used to predict the stock price? Dynamic analysis based on China stock market

    Science.gov (United States)

    Guo, Kun; Sun, Yi; Qian, Xin

    2017-03-01

    With the development of the social network, the interaction between investors in stock market became more fast and convenient. Thus, investor sentiment which can influence their investment decisions may be quickly spread and magnified through the network, and to a certain extent the stock market can be affected. This paper collected the user comments data from a popular professional social networking site of China stock market called Xueqiu, then the investor sentiment data can be obtained through semantic analysis. The dynamic analysis on relationship between investor sentiment and stock market is proposed based on Thermal Optimal Path (TOP) method. The results show that the sentiment data was not always leading over stock market price, and it can be used to predict the stock price only when the stock has high investor attention.

  7. Investments on a Rugged Landscape: The Effect of Investor Population, Network Structure, and Complexity on Technological Change

    DEFF Research Database (Denmark)

    Hain, Daniel; Mas Tur, Elena

    In this paper, we investigate which characteristics of technological and financial systems might be conductive for technological change. We are particularly in how the interplay between capabilities, resources and networks among investors with the complexity and maturity of technologies affect...... rates of technological change and diversity, and prevents technologies from getting stuck in the financial “valley of death”. In a next step, we introduce investor networks and allow agents to co-invest together in order to pool financial resources and get access to their forecasting capability...... in a specific technological domain. We compare which investor network structures lead to the high rates of technological change and diversity on a given technology landscape. Results from a Monte Carlo simulation indicate networked investor population to outperform the case of isolated stand-alone investors...

  8. SAMJ FORUM

    African Journals Online (AJOL)

    2006-09-01

    Sep 1, 2006 ... SAMJ FORUM. 862. Undernutrition, brain growth and intellectual development ... They were matched for age and sex with a control group of 11 ... of the average weight for Cape Coloured children of this age.' Thus was the ...

  9. Forum, Dedicated to Inclusive Education

    Directory of Open Access Journals (Sweden)

    Vachkov I.V.

    2015-06-01

    Full Text Available 26 – 27 of February 2015 in Kazan, in the University of Management “TISBI” been held National (All-Russian forum of promotion of ideas and principles of inclusive education (with international participants “Study and live together: open space of inclusion”. During the work of Forum the most topical questions of inclusive education implement in Russian Federation been discussed.

  10. Do Investor Preferences Drive Corporate Dividend Policy?

    Directory of Open Access Journals (Sweden)

    Konieczka Przemysław

    2014-10-01

    Full Text Available This research paper aims at assessing whether managers adapt their dividend policies to the changing preferences of investors, as predicted by the catering theory of dividends. To answer this question, we used an modified approach based on the method proposed by Baker and Wurgler [2004a] in their studies on dividend catering.

  11. Investors flock back as WPC casts glow

    International Nuclear Information System (INIS)

    Stonehouse, D.

    2000-01-01

    A reversal of investment capital from Internet companies to oil companies representing real value is the 'talk of the town' at the 16. World Petroleum Congress taking place in Calgary in June 2000. Market analysts are inspired by rising oil prices and prospects of long-term strength on the continental North American market for natural gas, and the noticeable change in the recently fashionable attitude among investors to concentrate on promise and aspiration and returning to the realities of true performance, namely of delivering real products to real consumers and making real profits in the process. As an unmistakable indication of this trend, it was pointed out that in recent weeks the Peters Energy 100 Index of Canadian oil and gas stocks climbed almost twice as fast as the TSE 300. This, combined with new fields, new technologies increasing recoverable reserves in mature fields, and the sustained growing demand for petroleum products, point to the industry's great potential which is not lost on experienced investors. As one industry leader observed 'fashions change, but reality always reasserts itself in the end.'

  12. Pengungkapan Pro Forma, Mendukung atau Menyesatkan Investor?

    Directory of Open Access Journals (Sweden)

    Yohanis Rura

    2010-12-01

    Full Text Available Pro forma is originated from Latin. It contains different meaning depends on which discipline it is used. In accounting, pro forma disclosure is used to show effect of important transaction which occurs after the end of periods, or which occurs during period but not fully reflected in historical cost financial statement of a firm. Pro forma disclosure has the objective to support (but might mislead investor in decision making focused on particular influence of important transaction. Company with low GAAP profit information; less profitable company and has higher level of debt but more liquid, whose P-E ratio and market to book is higher than other companies in the industry; has the tendency to do pro forma disclosure. Pro forma disclosure has been supported by several theories such as: efficient market theory, catering theory, agency theory, signaling theory, and stakeholder theory. However, there are problems in reporting pro forma figures. There is no standard to it. Therefore, information on pro forma disclosure might also mislead less sophisticated investor.

  13. Investor structure and the price-volume relationship in a continuous double auction market: An agent-based modeling perspective

    Science.gov (United States)

    Zhang, Wei; Bi, Zhengzheng; Shen, Dehua

    2017-02-01

    This paper investigates the impact of investor structure on the price-volume relationship by simulating a continuous double auction market. Connected with the underlying mechanisms of the price-volume relationship, i.e., the Mixture of Distribution Hypothesis (MDH) and the Sequential Information Arrival Hypothesis (SIAH), the simulation results show that: (1) there exists a strong lead-lag relationship between the return volatility and trading volume when the number of informed investors is close to the number of uninformed investors in the market; (2) as more and more informed investors entering the market, the lead-lag relationship becomes weaker and weaker, while the contemporaneous relationship between the return volatility and trading volume becomes more prominent; (3) when the informed investors are in absolute majority, the market can achieve the new equilibrium immediately. Therefore, we can conclude that the investor structure is a key factor in affecting the price-volume relationship.

  14. Science Education and Public Outreach Forums (SEPOF): Providing Coordination and Support for NASA's Science Mission Directorate Education and Outreach Programs

    Science.gov (United States)

    Mendez, B. J.; Smith, D.; Shipp, S. S.; Schwerin, T. G.; Stockman, S. A.; Cooper, L. P.; Peticolas, L. M.

    2009-12-01

    NASA is working with four newly-formed Science Education and Public Outreach Forums (SEPOFs) to increase the overall coherence of the Science Mission Directorate (SMD) Education and Public Outreach (E/PO) program. SEPOFs support the astrophysics, heliophysics, planetary and Earth science divisions of NASA SMD in three core areas: * E/PO Community Engagement and Development * E/PO Product and Project Activity Analysis * Science Education and Public Outreach Forum Coordination Committee Service. SEPOFs are collaborating with NASA and external science and education and outreach communities in E/PO on multiple levels ranging from the mission and non-mission E/PO project activity managers, project activity partners, and scientists and researchers, to front line agents such as naturalists/interpreters, teachers, and higher education faculty, to high level agents such as leadership at state education offices, local schools, higher education institutions, and professional societies. The overall goal for the SEPOFs is increased awareness, knowledge, and understanding of scientists, researchers, engineers, technologists, educators, product developers, and dissemination agents of best practices, existing NASA resources, and community expertise applicable to E/PO. By coordinating and supporting the NASA E/PO Community, the NASA/SEPOF partnerships will lead to more effective, sustainable, and efficient utilization of NASA science discoveries and learning experiences.

  15. Pure Contagion and Investors Shifting Risk Appetite; Analytical Issues and Empirical Evidence

    OpenAIRE

    Manmohan S. Kumar; Avinash Persaud

    2001-01-01

    This paper discusses a "pure" form of financial contagion, unrelated to economic fundamentals - investors' shifting appetite for risk. It provides an analytical framework for identifying changes in investors' risk appetite and discusses whether it is possible to directly measure them in a way that can enable policy makers to differentiate between financial contagion and domestic fundamentals as the immediate source of a crisis. Daily measures of risk appetite are computed and their usefulness...

  16. Suisse Romande forum meets at CERN

    CERN Multimedia

    2005-01-01

    The subject of the «Forum des 100» meeting held at CERN on 9 June was «Suisse Romande: Une région en quête de succès» (a region in search of success). Organised by the magazine l'Hebdo and the Rezonance.ch association, the forum was attended by numerous representatives from politics, industry and education and consisted of a day of lectures and debates. Pascal Couchepin, Head of the Swiss Federal Department of Home Affairs, and Luc Ferry, philosopher and former French Education Minister, were among those who took part in the forum.

  17. Pandemic influenza communication: views from a deliberative forum.

    Science.gov (United States)

    Rogers, Wendy A; Street, Jackie M; Braunack-Mayer, Annette J; Hiller, Janet E

    2009-09-01

    To use a deliberative forum to elicit community perspectives on communication about pandemic influenza planning, and to compare these findings with the current Australian national communication strategy. Deliberative forum of 12 persons randomly selected from urban South Australia. Forum members were briefed by experts in infection control, virology, ethics and public policy before deliberating on four key questions: what, how and when should the community be told about pandemic influenza and by whom? The forum recommended provision of detailed and comprehensive information by credible experts, rather than politicians, using a variety of media including television and internet. Recommendations included cumulative communication to build expertise in the community, and specific strategies to include groups such as young people, people with physical or mental disabilities, and rural and remote communities. Information provided should be practical, accurate, and timely, with no 'holding back' about the seriousness of a pandemic. The forum expressed confidence in the expert witnesses, despite the acknowledged uncertainty of many of the predictions. The deliberative forum's recommendations were largely consistent with the Australian national pandemic influenza communication strategy and the relevant literature. However, the forum recommended: release of more detailed information than currently proposed in the national strategy; use of non-political spokespersons; and use of novel communication methods. Their acceptance of uncertainty suggests that policy makers should be open about the limits of knowledge in potentially threatening situations. Our findings show that deliberative forums can provide community perspectives on topics such as communication about pandemic influenza.

  18. Fagligt Forum ved en skillevej

    DEFF Research Database (Denmark)

    Bjerg, Claus

    2008-01-01

    Med cvu-bibliotekernes overgang til professionshøjskoler ændres det biblioteksfaglige landskab. Det har Fagligt Forum taget konsekvensen af og nedlægger sig selv i løbet af 2000......Med cvu-bibliotekernes overgang til professionshøjskoler ændres det biblioteksfaglige landskab. Det har Fagligt Forum taget konsekvensen af og nedlægger sig selv i løbet af 2000...

  19. Investor Attrition and Fund Flows in Mutual Funds

    DEFF Research Database (Denmark)

    Christoffersen, Susan E. K.; Xu, Haoyu

    2017-01-01

    We explore the properties of equity mutual funds that experience a loss of assets after poor performance. We document that both inflows and outflows are less sensitive to performance, because performance-sensitive investors leave or decide not to invest after bad performance. Consistent with the ...

  20. Can large long-term investors capture illiquidity premiums

    NARCIS (Netherlands)

    de Jong, F.C.J.M.; Driessen, J.J.A.G.

    2015-01-01

    In this paper we perform a literature study to assess whether large long-term investors can benefit from liquidity premiums in different asset classes. We both describe the theoretical predictions on liquidity premiums and portfolio choice with illiquidity, as well as empirical evidence on liquidity

  1. A behavioral analysis of investor diversification

    OpenAIRE

    Fuertes, A.; Muradoglu, G.; Ozturkkal, B.

    2014-01-01

    This paper studies the link between individual investors’ portfolio diversification levels and various personal traits that proxy informational advantages and overconfidence. The analysis is based on objective data from the largest Turkish brokerage house tracking 59,951 individual investors’ accounts with a total of 3,248,654 million transactions over the period 2008–2010. Wealthier, highly educated, older investors working in the finance sector and those trading relatively often show higher...

  2. ITU World Youth Forum visits CERN

    CERN Multimedia

    2009-01-01

    About 250 students selected by the International Telecommunication Union (ITU) to participate in the 2009 Youth Forum made CERN a primary destination for this year’s World Youth Forum event. The 250 students participating in the 2009 Youth Forum attend a presentation in the Globe of Science and Innovation.On Tuesday 6 October, the group visited several sites including the Microcosm exhibition and the ATLAS cavern to get a glimpse of what CERN does and the exciting science that is studied here. Since 2001 and every three years, the ITU World Forum brings together young men and women, aged 18-23, to learn about new technologies and the world around them. This year’s group included participants from one hundred and twenty-five different countries. This was the first time that the event involved a visit to CERN. When asked why CERN was a destination, Pascal Biner, organizer of the visit for ITU, explained that CERN was a necessary stop given the Forum’s base in Gen...

  3. Can anonymous posters on medical forums be reidentified?

    Science.gov (United States)

    Bobicev, Victoria; Sokolova, Marina; El Emam, Khaled; Jafer, Yasser; Dewar, Brian; Jonker, Elizabeth; Matwin, Stan

    2013-10-03

    Participants in medical forums often reveal personal health information about themselves in their online postings. To feel comfortable revealing sensitive personal health information, some participants may hide their identity by posting anonymously. They can do this by using fake identities, nicknames, or pseudonyms that cannot readily be traced back to them. However, individual writing styles have unique features and it may be possible to determine the true identity of an anonymous user through author attribution analysis. Although there has been previous work on the authorship attribution problem, there has been a dearth of research on automated authorship attribution on medical forums. The focus of the paper is to demonstrate that character-based author attribution works better than word-based methods in medical forums. The goal was to build a system that accurately attributes authorship of messages posted on medical forums. The Authorship Attributor system uses text analysis techniques to crawl medical forums and automatically correlate messages written by the same authors. Authorship Attributor processes unstructured texts regardless of the document type, context, and content. The messages were labeled by nicknames of the forum participants. We evaluated the system's performance through its accuracy on 6000 messages gathered from 2 medical forums on an in vitro fertilization (IVF) support website. Given 2 lists of candidate authors (30 and 50 candidates, respectively), we obtained an F score accuracy in detecting authors of 75% to 80% on messages containing 100 to 150 words on average, and 97.9% on longer messages containing at least 300 words. Authorship can be successfully detected in short free-form messages posted on medical forums. This raises a concern about the meaningfulness of anonymous posting on such medical forums. Authorship attribution tools can be used to warn consumers wishing to post anonymously about the likelihood of their identity being

  4. The Impact of Investor Demand on Security Offerings

    NARCIS (Netherlands)

    E. Duca (Eric)

    2011-01-01

    textabstractThe studies in this thesis contribute to a growing stream of papers showing that capital structure decisions are not only influenced by corporate determinants, but also by fluctuations in investor tastes and capital available for investment. This is a relatively new way of looking at

  5. Financial impacts of nonutility power purchases on investor-owned electric utilities

    Energy Technology Data Exchange (ETDEWEB)

    1994-06-01

    To assist in its these responsibilities in the area of electric power, EIA has prepared this report, Financial Impacts of Nonutility Power Purchases on Investor-Owned Electric Utilities. The primary purpose of this report is to provide an overview of the issues surrounding the financial impacts of nonutility generation contracts (since the passage of the Public Utility Regulatory Policies Act of 1978) on investor-owned utilities. The existing concern in this area is manifest in the provisions of Section 712 of the Energy Policy Act of 1992, which required State regulatory commissions to evaluate various aspects of long-term power purchase contracts, including their impact on investor-owned utilities` cost of capital and rates charged to customers. The EIA does not take positions on policy questions. The EIA`s responsibility is to provide timely, high quality information and to perform objective, credible analyses in support of the deliberations by both public and private decision-makers. Accordingly, this report does not purport to represent the policy positions of the US Department of Energy or the Administration.

  6. Financial impacts of nonutility power purchases on investor-owned electric utilities

    International Nuclear Information System (INIS)

    1994-01-01

    To assist in its these responsibilities in the area of electric power, EIA has prepared this report, Financial Impacts of Nonutility Power Purchases on Investor-Owned Electric Utilities. The primary purpose of this report is to provide an overview of the issues surrounding the financial impacts of nonutility generation contracts (since the passage of the Public Utility Regulatory Policies Act of 1978) on investor-owned utilities. The existing concern in this area is manifest in the provisions of Section 712 of the Energy Policy Act of 1992, which required State regulatory commissions to evaluate various aspects of long-term power purchase contracts, including their impact on investor-owned utilities' cost of capital and rates charged to customers. The EIA does not take positions on policy questions. The EIA's responsibility is to provide timely, high quality information and to perform objective, credible analyses in support of the deliberations by both public and private decision-makers. Accordingly, this report does not purport to represent the policy positions of the US Department of Energy or the Administration

  7. 75 FR 14644 - Gemini Investors IV, L.P., Notice Seeking Exemption Under Section 312 of the Small Business...

    Science.gov (United States)

    2010-03-26

    ... SMALL BUSINESS ADMINISTRATION [License No. 01/01-0410] Gemini Investors IV, L.P., Notice Seeking... given that Gemini Investors IV, L.P., 20 William Street, Wellesley, MA 02481, a Federal Licensee under... Regulations (13 CFR 107.730). Gemini Investors IV, L.P. proposes to provide equity and debt financing to...

  8. Wallenbergide Investor jätkab kasvustrateegiat / Olev Mait Makk

    Index Scriptorium Estoniae

    Makk, Olev Mait

    2001-01-01

    Wallenbergide kontrollitavast Rootsi investeerimisfirmast Investor, mille omanduses olevad firmad moodustavad kokku Euroopa suurima tööandja erasektoris. Investori gruppi kuuluvast ettevõttest SEB. Tabel: Investori portfellis olevad aktsiad; investori teenused tütarettevõtetele

  9. New York State Forum for Information Resource Management: 1998-1999 Annual Report.

    Science.gov (United States)

    New York State Forum for Information Resource Management.

    This annual report of the New York State Forum for Information Resource Management begins with a section that summarizes key activities for 1998-99, including partnerships with other organizations, sessions on the use of information in government and information security, programs on the challenges of electronic commerce for government,…

  10. Genreanalyse af Investor Relations Newsletters. En teoretisk og empirisk baseret genreanalyse af tyske Investor Relations nyhedsbreve med fokus på identifikation og adskillelse af funktionelle træk

    DEFF Research Database (Denmark)

    Pedersen, Anne Grethe Julius

    2007-01-01

    on corporate websites and addressed primarily to investors. The aim of my PhD thesis is to propose an explanatory genre description of IR Newsletters concentrating on constitutive factors like contextual aspects incorporating communicative purposes, functional moves and lexicogrammatical features. The question......My PhD-thesis focuses on genre analysis within the field of German applied linguistics, with the emphasis on the identification of functional moves in Investor Relations (IR) newsletters from chemical companies in Germany. IR newsletters are offered as an email subscription-based service...

  11. Forum Theater’s potential as a Research Tool

    Directory of Open Access Journals (Sweden)

    Andrea Calsamiglia Madurga

    2016-03-01

    Full Text Available We present a theoretical and epistemological reflection on Forum Theater’s potential as a Research Tool. Our presence on social action and research has led us to a double reflection on qualitative research’s limitations on the affect studies and the Forum Theater’s potential as a research tool to tackle research about affects. After some specific experiences in action research (qualitative research on romantic love and gender violence, and the creation process of the Forum Theater “Is it a joke?”, we explore Forum Theatre’s possibilities as a research tool in the feminist epistemology framework.

  12. How Severe Was the Impact of the Financial Crisis on Individual Investor Perceptions and Behavior?

    NARCIS (Netherlands)

    Hoffmann, A.; Post, T.; Pennings, J.M.E.

    2011-01-01

    Abstract: Based on a unique combination of monthly survey data and matching trading records, we examine how individual investor perceptions change and drive trading and risk-taking behavior during the 2007–2009 financial crisis. Investor perceptions fluctuate significantly, with risk tolerance and

  13. Online self-help forums on cannabis: A content assessment.

    Science.gov (United States)

    Greiner, Christian; Chatton, Anne; Khazaal, Yasser

    2017-10-01

    To investigate online self-help forums related to cannabis users who were searching for help on the Internet. We analyzed the content of 717 postings by 328 users in three online forums in terms of fields of interest and self-help mechanisms. Only English-language forums that were free of charge and without registration were investigated. The main self-help mechanisms were disclosure and symptoms, with relatively few posts concerning legal issues and social perceptions. The forums differed significantly in all fields of interest and self-help mechanisms except for social network and financial and vocational issues. Highly involved users more commonly posted on topics related to diagnosis, etiology/research, and provision of information and less commonly on those related to gratitude. Correlation analysis showed a moderate negative correlation between emotional support and illness-related aspects and between emotional support and exchange of information. Cannabis forums share similarities with other mental health forums. Posts differ according to user involvement and the specific orientation of the forum. The Internet offers a viable source of self-help and social support for cannabis users, which has potential clinical implications in terms of referring clients to specific forums. Copyright © 2017 Elsevier B.V. All rights reserved.

  14. Do Investors Learn About Analyst Accuracy?

    OpenAIRE

    Chang, Charles; Daouk, Hazem; Wang, Albert

    2008-01-01

    We study the impact of analyst forecasts on prices to determine whether investors learn about analyst accuracy. Our test market is the crude oil futures market. Prices rise when analysts forecast a decrease (increase) in crude supplies. In the 15 minutes following supply realizations, prices rise (fall) when forecasts have been too high (low). In both the initial price action relative to forecasts and in the subsequent reaction relative to realized forecast errors, the price response is stron...

  15. Neo-Nazis Sympathizers on the Forums of the Romanian Online Publications

    Directory of Open Access Journals (Sweden)

    Elena-Irina Macovei

    2013-08-01

    Full Text Available The research aims to highlight how the forums of the Romanian online publications may often become spaces for right-wing extremist propaganda. The case study includes about 1.000 comments of the readers, expressed on the articles about a protest of several intellectuals against a TV program of the Romanian public Television (TVR, where Corneliu Zelea Codreanu, the founder of the Iron Guard, a Nazi organization created in 1927, was presented as a romantic hero. The results of the content analysis of comments revealed the stigmatizing themes, the stereotypes and the extremist ideas identified on the forums of these articles. In addition, the comparison between the electronic platforms of the publications showed the importance of their features and of the characteristics of audiences regarding the content of the comments.

  16. Institutional investors' reaction to SEC concerns about IFRS and US GAAP reporting

    OpenAIRE

    Miles, Gietzmann; Helena, Isidro

    2013-01-01

    For the period of 2006 to 2008, we collect Comment Letters issued by the SEC that question the application of US GAAP by US firms or the application of IFRS by European firms registered with the SEC. We investigate whether institutional investors react to the letters by changing their holdings and whether their responses vary for US registrants and European registrants. We do this via a treatment-effects model in which we test the hypothesis that institutional investors rebalance their portfo...

  17. Attractiveness of Serbian retail industry for foreign investors with reference to the company Delhaize Group

    Directory of Open Access Journals (Sweden)

    Stankov Biljana

    2016-01-01

    Full Text Available Trade in Serbia is a very attractive economic area for foreign investors. After the manufacturing sector, this area attracted the most foreign investors in the recent years. By participating in macroeconomic indicators of the Serbian economy, trade contributes to the intensification of country's economic growth and development and FDI inflows increase, and thus the promotion of capital accumulation. Since 2000 when Serbia faced more intensive coming of foreign investors, retail industry attracted a significant number of foreign investors. Apart from bringing fresh capital, these investors contributed to the development of modern forms of retail trade, as well as the reorientation of retailers who are now increasingly concerned about the needs and wishes of consumer. As a result, they put aside the range and characteristics of the products they sell. One of the biggest foreign investors in Serbia, and certainly the most powerful participant in the retail market, Delhaize Group is a company based in Belgium. Recognizing the benefits of retail trade in Serbia, as well as excellent prospects of its future development, Delhaize Group took advantage of a favorable opportunity and invested in the purchase of the retail chain Delta Maxi, a former regional leader. Consequently, it achieved the biggest market share and enter into competition with other powerful companies such as Agrokor, Mercator and Metro. Delhaize Group is certainly a leading retailer of food and other products in Southeast Europe and in the United States, but it also appears to be a leader of sustainable and ethical business in its field.

  18. Members of the Forum Engelberg visit CERN

    CERN Multimedia

    Patrive Loïez

    2002-01-01

    The Forum Engelberg is an annual interdisciplinary conference held in Engelberg, Switzerland intended to act as an international platform for debate and exchange of views on key issues affecting scientific research, technology, economics and philosophy. Its President is Hubert Curien - former French Minister of Research and Space Research, and President of the CERN Council from 1994 to 1996. Photo 01: CERN Director-General Prof. Luciano Maiani (left) speaks to Forum members and public figures from the Geneva area during the visit. In the background is Jean-Claude Landry from the Department of the Interior, Agriculture and Environment, State of Geneva. Photo 02: CERN Director-General Prof. Luciano Maiani (left) speaks to Forum members and public figures from the Geneva area during the visit. In the background is Bernard Ecoffey, Founder of the Forum Engelberg.

  19. 17. telekomunikacioni forum TELFOR 2009

    Directory of Open Access Journals (Sweden)

    Nebojša N. Gaćeša

    2010-04-01

    Full Text Available U Beogradu je 24, 25. i 26. novembra 2009. godine, u Sava centru, održan 17. telekomunikacioni forum TELFOR 2009, u organizaciji Društva za telekomunikacije – Beograd, „Telekom Srbija“ a. d., JP PTT saobraćaja „Srbija“, Elektrotehničkog fakulteta Univerziteta u Beogradu i IEEE Serbia & Montenegro ComSoc Chapter and Section. Telekomunikacioni forum TELFOR organizuje se sedamnaesti put kao domaći i regionalni godišnji skup stručnjaka koji rade u oblastima telekomunikacija i informacionih tehnologija. Učesnici su uglavnom telekomunikacioni inženjeri, ali i ekonomisti, pravnici, menadžeri, operatori i drugi. Na taj način TELFOR predstavlja forum u okviru kojeg se razmatraju sva relevantna pitanja telekomunikacija: tehnička, razvojna, regulatorna i ekonomska, pitanja proizvodnje opreme, usluga, servisa i funkcionisanja sistema.

  20. Investor reaction to strategic emphasis on earnings numbers: An empirical study

    Directory of Open Access Journals (Sweden)

    M. Shibley Sadique

    2013-10-01

    Full Text Available We analyze the earnings information and stock prices of S&P500 firms and find that investors following S&P500 stocks (i respond more to pro forma earnings than to GAAP earnings, (ii respond to an emphasis on pro forma earnings, and (iii are fixated on pro forma earnings. We provide the first direct evidence that a strategic emphasis on earnings numbers may affect return volatility. Further, our results do not support the argument that a larger investor response to Street earnings might be driven by large differences between the Street numbers and GAAP numbers.

  1. Proceedings of the Fifth Triennial Software Quality Forum 2000, Software for the Next Millennium, Software Quality Forum

    Energy Technology Data Exchange (ETDEWEB)

    Scientific Software Engineering Group, CIC-12

    2000-04-01

    The Software Quality Forum is a triennial conference held by the Software Quality Assurance Subcommittee for the Department of Energy's Quality Managers. The forum centers on key issues, information, and technology important in software development for the Nuclear Weapons Complex. This year it will be opened up to include local information technology companies and software vendors presenting their solutions, ideas, and lessons learned. The Software Quality Forum 2000 will take on a more hands-on, instructional tone than those previously held. There will be an emphasis on providing information, tools, and resources to assist developers in their goal of producing next generation software.

  2. Maximizing your wind farm development value in the eyes of the investor

    International Nuclear Information System (INIS)

    McGarrigle, P.

    2010-01-01

    While there are now a significant number of wind power projects on the market, few buyers have access to sufficient capital funds to build. This PowerPoint presentation discussed methods of maximizing the value of wind farm development projects in order to attract investors. The poor investment climate was attributed to low power and natural gas prices, as well as to the high cost of wind farms and a shortage of capital. Factors that influence the value of a wind power project included the quality of the asset, project risks, project size, and the stage of development. Developers must demonstrate to investors that transmission access is ensured, that there is sufficient stakeholder support and adequate wind resources. The ability to develop and expand on an initial project should also be demonstrated. Investors require documentation in relation to transmission information, stakeholder consultation work, and constraint maps with industry standard setbacks. Information must be consistent and credible. The use of qualified, experienced consultants was recommended. tabs., figs.

  3. Ambiguity and Investment Decisions: An Empirical Analysis on Mutual Fund Investor Behaviour

    Directory of Open Access Journals (Sweden)

    Chao Tang

    2017-09-01

    Full Text Available The paper empirically studies the relationship between ambiguity and mutual fund investor behaviour. Theoretical models for investment decisions incorporating ambiguity motivate our analyses. While the models indicate that investors would less likely to invest in financial markets when ambiguity increases, there is rare empirical evidence in natural occurring financial data to examine this hypothesis. In this paper, we test the hypothesis with equity fund flow data as for investment decisions and ambiguity with the degree of disagreement in equity analysts’ prediction about asset returns. Our results support the hypothesis that increases in ambiguity could lead to less fund flows and this result remains consistently when adding various control variables affecting fund flows. Besides, we find that heterogeneous impacts of ambiguity: equity funds with high yield targets and active management style are affected more than funds investing in stable stocks; funds with larger proportion of institutional investors are more sensitive and affected by the ambiguity.

  4. Maximizing your wind farm development value in the eyes of the investor

    Energy Technology Data Exchange (ETDEWEB)

    McGarrigle, P. [Solas Energy Consulting Inc., Calgary, AB (Canada)

    2010-07-01

    While there are now a significant number of wind power projects on the market, few buyers have access to sufficient capital funds to build. This PowerPoint presentation discussed methods of maximizing the value of wind farm development projects in order to attract investors. The poor investment climate was attributed to low power and natural gas prices, as well as to the high cost of wind farms and a shortage of capital. Factors that influence the value of a wind power project included the quality of the asset, project risks, project size, and the stage of development. Developers must demonstrate to investors that transmission access is ensured, that there is sufficient stakeholder support and adequate wind resources. The ability to develop and expand on an initial project should also be demonstrated. Investors require documentation in relation to transmission information, stakeholder consultation work, and constraint maps with industry standard setbacks. Information must be consistent and credible. The use of qualified, experienced consultants was recommended. tabs., figs.

  5. Investors flock back as WPC casts glow

    Energy Technology Data Exchange (ETDEWEB)

    Stonehouse, D.

    2000-06-19

    A reversal of investment capital from Internet companies to oil companies representing real value is the 'talk of the town' at the 16. World Petroleum Congress taking place in Calgary in June 2000. Market analysts are inspired by rising oil prices and prospects of long-term strength on the continental North American market for natural gas, and the noticeable change in the recently fashionable attitude among investors to concentrate on promise and aspiration and returning to the realities of true performance, namely of delivering real products to real consumers and making real profits in the process. As an unmistakable indication of this trend, it was pointed out that in recent weeks the Peters Energy 100 Index of Canadian oil and gas stocks climbed almost twice as fast as the TSE 300. This, combined with new fields, new technologies increasing recoverable reserves in mature fields, and the sustained growing demand for petroleum products, point to the industry's great potential which is not lost on experienced investors. As one industry leader observed 'fashions change, but reality always reasserts itself in the end.'.

  6. Standardizing the Presentation of Financial Data : Does XBRL’s Taxonomy Affect the Investment Performance of Nonprofessional Investors?

    OpenAIRE

    Henderson, Cassy; Huerta, Esperanza; Glandon, TerryAnn

    2015-01-01

    Extensible Business Reporting Language (XBRL) is mandated in the United States to make financial information easier to analyze and more useful for investors. When the technology is implemented as intended, it can standardize the information presented in the financial statements. The format is especially beneficial for nonprofessional investors, which represent approximately 41 million investors investing the United States stock exchange. In this study, we conduct an experiment comparing stand...

  7. CERN Apps meet in a forum

    CERN Multimedia

    Antonella Del Rosso

    2013-01-01

    In the fast-evolving world of mobile apps, creativity and usability are key words. For the time being, the number of CERN apps is quite limited but the situation could quickly change. An information-sharing forum set up by the IT Department is a starting point to channel your creativity with the help of experts, best practices and useful guidelines.   The CAPPS (CERN Apps) Forum was set up about a year ago. Its members come from various departments and meet every two or three months to update each other on the apps that are in preparation, share the latest news on the available software, discuss best practices and so on. “The Forum is open to anybody wanting to develop apps at CERN,” explains David Foster, Deputy Department Head and initiator of the CAPPS Forum. “Developers, communication experts and IT infrastructure experts meet and discuss various topics, from branding-related issues to coding and implementation solutions. The aim is to go forward in a coherent way...

  8. Hedge Funds as Investors of Last Resort?

    OpenAIRE

    David J. Brophy; Paige P. Ouimet; Clemens Sialm

    2009-01-01

    Hedge funds have become important investors in public companies raising equity privately. Hedge funds tend to finance companies that have poor fundamentals and pronounced information asymmetries. To compensate for these shortcomings, hedge funds protect themselves by requiring substantial discounts, negotiating repricing rights, and entering into short positions of the underlying stocks. We find that companies that obtain financing from hedge funds significantly underperform companies that ob...

  9. Can Online Forums Be Designed to Empower Local Communities?

    Directory of Open Access Journals (Sweden)

    Kerill Dunne

    2011-07-01

    Full Text Available There has been a growing concern regarding political disengagement among citizens within western representative democracies. This concern has brought about calls for local communities to be empowered by giving citizens more control over local decision making. The objective of this paper is to examine if local political online forums can be built to empower local communities. That is to say, this paper will test if the E-Democracy.org’s Local Issues Forum Guidebook recommendations (A to do list for building successful online forums actually work and produce forums which facilitate citizens to have a greater say on local decision making and thus, induce empowerment. In order to test these recommendations a two-pronged methodological approach was taken. Firstly, using these recommendations an online forum was constructed in-conjunction with a local authority within the UK. Secondly, the recommendations were tested again except in this second approach a sample of online forums from around the world was examined. This paper argues that the E-Democracy.org’s recommendations do not always produce forums which empower local communities - Based on lessons learned from both experiments new guidelines are provided.

  10. Carbon disclosure project report 2006 : Canada 280 on behalf of 225 investors with assets of $31 trillion

    Energy Technology Data Exchange (ETDEWEB)

    Greenall, D. [Conference Board of Canada, Ottawa, ON (Canada)

    2006-10-15

    The Conference Board of Canada carried out the Canadian component of the fourth annual Carbon Disclosure Project (CDP). Climate change is a topical issue for investors and financial institutions such as pension funds, asset management firms, banks and insurance companies that want to assess the carbon exposure and risk profiles of their investment. This report outlined recent climate-change developments in Canada and examined the state of disclosure of greenhouse gas (GHG) emissions of 280 Canadian companies and the implications for investors and corporations. In February 2006, on behalf of its 225 signatory investors, CDP requested information on corporate risks and opportunities associated with climate change from more than 2,000 companies globally. This report described the steps that respondent companies are taking to address climate change. A methodology was also presented to guide investors who want to determine a company's net carbon risk. It was noted that although awareness of the risks and opportunities posed by climate change has grown significantly among investors, it has not translated into widespread planning and action by Canada's largest companies. It was emphasized that if the negative impacts of climate change are to be avoided, investors will have to put CDP data to work. The $31.5 trillion in assets behind CDP4 includes $1 trillion by Canadian-based investors, a significant increase over the previous report. Sixty-three per cent of respondents provided data on annual GHG emissions. However, different measuring and reporting approaches made it difficult for investors to compare company emission profiles. The response from Canadian companies showed that large companies are responding to investor interests, particularly gas and electrical utilities and other carbon intensive companies in the forest products, petroleum and mining sectors. Canada compared well to the response rates of other jurisdictions, but forward-looking financial and

  11. PERLINDUNGAN INVESTOR PASAR MODAL DALAM PERSPEKTIF LEGAL, DISCLOSURE DAN DIVIDEN DI BEBERAPA NEGARA

    Directory of Open Access Journals (Sweden)

    Wahyu Manuhara Putra

    2016-02-01

    Full Text Available Corporate governance gives certainty protection to shareholder and parties of creditor in investing at its company. Mechanism of corporate governance consisted of transparancy, disclosure and fairness. Corporate governance is key determinant and develope of  stock market, capital and ownership structure, dividend policy and control gain of privat. Purpose of this article is to explain protection of investor through mechanism disclosure, law and dividend in some countries. Result of some researches indicate that United States, English and Japan has high law level of protection for investor while indonesia still weakening. The disclosure  level broadness of financial information there is at United States, English and Japan. On The Contrary, Indonesia still less in disclosing its financial statements. The other result states that dividend payment policy indirectly relates to protection of investor, but influenced by law enforcement system and investment opportunitis.

  12. Low-Level Waste (LLW) forum meeting report

    International Nuclear Information System (INIS)

    1995-01-01

    The Low-Level Radioactive Waste Forum (LLW Forum) is an association of state and compact representatives, appointed by governors and compact commissions, established to facilitate state and compact implementation of the Low-Level Radioactive Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The LLW Forum provides an opportunity for state and compact officials to share information with one another and to exchange views with officials of federal agencies and other interested parties

  13. Forum for Almen Medicinske ph.d.-studerende

    DEFF Research Database (Denmark)

    Vedsted, Peter; Waldorff, Frans Boch; Eriksson, Tina

    Rapport fra første fællesmøde mellem nuværende og kommende almenmedicinske ph.d.-studerende. Rapporten anbefaler dannelse af et egentligt almenmedicinsk ph.d.-forum, der søges optaget i DSAM som en interessegruppe. Ph.d.-forum betragter sig som en ressource ved forskellige initiativer og ønsker...... blandt andet at arbejde for en værdig ansættelse af yngre forskere. Blandt de konkrete forslag, Ph.d.-forum har stillet, er almenmedicinske ph.d.-kurser og ph.d.-stipendium med henblik på udarbejdelse af protokol....

  14. The South African Forum for Radiation Protection

    International Nuclear Information System (INIS)

    Basson, J.K.; Le Roux, P.R.

    1993-01-01

    The use of ionising radiation in South Africa since the turn of the century was initially limited to x-rays and radium, with predominant applications in medicine for diagnosis and therapy. Since 1948 artificial radio-isotopes have been increasingly available and such applications have been widely extended to industry, agriculture and science. Initially, the Council for Scientific and Industrial Research developed radiation protection in South Africa. It was later recommended that an independent forum, the South African Forum for Radiation Protection, be established. The activities of the Forum are described

  15. Low-Level Waste (LLW) forum meeting report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-12-31

    The Low-Level Radioactive Waste Forum (LLW Forum) is an association of state and compact representatives, appointed by governors and compact commissions, established to facilitate state and compact implementation of the Low-Level Radioactive Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The LLW Forum provides an opportunity for state and compact officials to share information with one another and to exchange views with officials of federal agencies and other interested parties.

  16. Members of the Forum Engelberg visit CERN

    CERN Multimedia

    Patrice Loïez

    2002-01-01

    The Forum Engelberg is an annual interdisciplinary conference held in Engelberg, Switzerland intended to act as an international platform for debate and exchange of views on key issues affecting scientific research, technology, economics and philosophy. Its President is Hubert Curien - former French Minister of Research and Space Research, and President of the CERN Council from 1994 to 1996. Photo 01: Thérèse Wolf, Secretary of Forum Engelberg; Alain Hervé; Horst Wenninger; and Alexander Höchli, Forum member and former Landammann of the canton of Obwalden, at the CMS detector's assembly site.

  17. An Analysis of the Mutual Fund Industry: Mutual Fund Investors, Mutual Fund Managers and Mutual Fund Companies

    OpenAIRE

    Fang, Jieyan

    2012-01-01

    In this dissertation I investigate the mutual fund industry, especially the three most important participants within this industry: mutual fund investors, mutual fund companies and mutual fund managers. The main research questions of this dissertation are: 1. Does rapid trading exist among German equity mutual fund investors? What are the determinants of rapid trading? Does rapid trading have a negative impact on mutual fund performance? 2. Do mutual fund investors, as a whole, have...

  18. Predictive modelling for startup and investor relationship based on crowdfunding platform data

    Science.gov (United States)

    Alamsyah, Andry; Buono Asto Nugroho, Tri

    2018-03-01

    Crowdfunding platform is a place where startup shows off publicly their idea for the purpose to get their project funded. Crowdfunding platform such as Kickstarter are becoming popular today, it provides the efficient way for startup to get funded without liabilities, it also provides variety project category that can be participated. There is an available safety procedure to ensure achievable low-risk environment. The startup promoted project must accomplish their funded goal target. If they fail to reach the target, then there is no investment activity take place. It motivates startup to be more active to promote or disseminate their project idea and it also protect investor from losing money. The study objective is to predict the successfulness of proposed project and mapping investor trend using data mining framework. To achieve the objective, we proposed 3 models. First model is to predict whether a project is going to be successful or failed using K-Nearest Neighbour (KNN). Second model is to predict the number of successful project using Artificial Neural Network (ANN). Third model is to map the trend of investor in investing the project using K-Means clustering algorithm. KNN gives 99.04% model accuracy, while ANN best configuration gives 16-14-1 neuron layers and 0.2 learning rate, and K-Means gives 6 best separation clusters. The results of those models can help startup or investor to make decision regarding startup investment.

  19. The Electronic Data Methods (EDM) forum for comparative effectiveness research (CER).

    Science.gov (United States)

    Holve, Erin; Segal, Courtney; Lopez, Marianne Hamilton; Rein, Alison; Johnson, Beth H

    2012-07-01

    AcademyHealth convened the Electronic Data Methods (EDM) Forum to collect, synthesize, and share lessons from eleven projects that are building infrastructure and using electronic clinical data for comparative effectiveness research (CER) and patient-centered outcomes research (PCOR). This paper provides a brief review of participating projects and provides a framework of common challenges. EDM Forum staff conducted a text review of relevant grant programs' funding opportunity announcements; projects' research plans; and available information on projects' websites. Additional information was obtained from presentations provided by each project; phone calls with project principal investigators, affiliated partners, and staff from the Agency for Healthcare Research and Quality (AHRQ); and six site visits. Projects participating in the EDM Forum are building infrastructure and developing innovative strategies to address a set of methodological, and data and informatics challenges, here identified in a common framework. The eleven networks represent more than 20 states and include a range of partnership models. Projects vary substantially in size, from 11,000 to more than 7.5 million individuals. Nearly all of the AHRQ priority populations and conditions are addressed. In partnership with the projects, the EDM Forum is focused on identifying and sharing lessons learned to advance the national dialogue on the use of electronic clinical data to conduct CER and PCOR. These efforts have the shared goal of addressing challenges in traditional research studies and data sources, and aim to build infrastructure and generate evidence to support a learning health care system that can improve patient outcomes.

  20. Comparison of efficiency and profitability of investor-owned multihospital systems with not-for-profit hospitals.

    Science.gov (United States)

    Sear, A M

    1991-01-01

    It is often assumed that investor-owned hospitals are more market driven than are not-for-profit hospitals, and that they will maximize output and minimize inputs, to the exclusion of other management strategies. To resolve the conflicting research evidence, this study analyzed efficiency and profitability measures for approximately 50 investor-owned and 60 not-for-profit hospitals in Florida for the period from 1982 through 1988. The results indicate that the investor-owned hospitals used significantly fewer FTE staff per bed, had significantly fewer manhours per adjusted patient day, and paid significantly less in wages and had significantly higher operating margins (profit) than did the not-for-profit institutions.

  1. 76 FR 2728 - Securities Investor Protection Corporation; Order Approving a Proposed Bylaw Change Relating to...

    Science.gov (United States)

    2011-01-14

    ... on SIPC Members January 10, 2011. On October 8, 2010, the Securities Investor Protection Corporation... pursuant to Section 3(e)(1) of the Securities Investor Protection Act of 1970 (``SIPA''), 15 U.S.C. 78ccc(e... SECURITIES AND EXCHANGE COMMISSION [Release No. SIPA-170; File No. SIPC-2010-01] Securities...

  2. Investor Outlook: Focus on Upcoming LCA2 Gene Therapy Phase III Results.

    Science.gov (United States)

    Schimmer, Joshua; Breazzano, Steven

    2015-09-01

    Investor interest in gene therapy has increased substantially over the past few years, and the next major catalyst for the field is likely to be Spark Therapeutics's phase III trial for the treatment of visual impairment caused by RPE65 gene mutations (often referred to as Leber congenital amaurosis type 2, or LCA2, but may include other retinal disorders). Analysis of the approach from the basic genetics, underlying visual mechanisms, clinical data, and commercialization considerations helps frame investor expectations and the potential implications for the broader field.

  3. Investor perceptions of nuclear power

    International Nuclear Information System (INIS)

    Hewlett, J.G.

    1984-05-01

    Evidence is provided that investor concerns about nuclear power have recently been reflected in the common stock returns of all utilities with such facilities and have resulted in a risk premium. In particular, over the 1978-1982 period, three nuclear-related events occurred at the same time as, and therefore appear to have caused, significant drops in the market values of nuclear utilities relative to their non-nuclear counterparts. The three events were as follows: the accident at TMI, which occurred in March 1979; the realization in the summer of 1980 that an accident of the magnitude of TMI could result in cleanup costs of over $1 billion, which are not completely insurable and could therefore result in substantial losses; and the summer 1982 decision by the Tennessee Valley Authority (TVA) to cancel some if its nuclear power plant construction projects, and the Nuclear Regulatory Commission (NRC) decision to stop work on the construction of the Zimmer reactor, followed by a warning that it might close the Indian Point 2 and 3 reactors. If an individual had invested $100 in an average nuclear utility on the day before the TMI accident and reinvested all dividends, the value of this investment would have fallen by 10% relative to an identical investment in the average non-nuclear utility. The risk of investments in nuclear power versus conventional generating technologies shows nuclear power to be a relatively risky investment. However, relative to all investments, nuclear power was less risky in terms of the type of risk that would cause investors to require a premium before purchasing their securities. 6 figures, 6 tables

  4. GreyGuide Forum and Repository

    OpenAIRE

    Biagioni, Stefania; Farace, Dominic

    2014-01-01

    We present the GreyGuide: an online forum and repository of good practice in the field of grey literature. The launch of the GreyGuide Repository took place in December 2013 at the Fifteenth International Conference on Grey Literature. Since then, the acquisition of both proposed and published good practices are underway. The GreyGuide as an online forum is currently in a developmental stage and is influenced by the changes that have taken place in GreyNet's new infrastructure commencing in J...

  5. The Copenhagen Forum 1996-2016

    DEFF Research Database (Denmark)

    Ry Nielsen, Jens Carl; Raine, John

    2016-01-01

    Purpose: This chapter tells the story of the initiation, development (over two decades) and collective contribution of the Copenhagen Forum since its foundation in 1996. This Forum comprises a grouping of teachers and directors of masters-level public administrative programmes (notably the MPA) f...... the inspiration for this volume, and the individual contributions, derive. It is a context that has been all about a shared fascination with, and collective commitment to, the advancement of learning and development among practicing public managers....

  6. Pengaruh Tingkat Adopsi IFRS dan Proteksi Investor terhadap Persistensi Laba: Analisis Lintas Negara Emerging Markets

    Directory of Open Access Journals (Sweden)

    Ikrima Shobriati

    2016-12-01

    Full Text Available Abstract. The purpose of this study is to provide empirical evidence about the effect of IFRS adoption and investor protection on earnings persistence. Based on prior studies, there are some problems that existed in the accounting practices in emerging markets such as less an accountant who have good qualifications, incomplete accounting information or inaccuracy of time in preparing financial statements, the lack of accounting data that are used for internal management incentives, the lack of legislation, auditing standards and procedure of accounting standards and this issues will can affect the quality of accounting information that reported in financial statements. So this view initiate to investigate extensively about the effect of institutional factors on earnigs persistence.This study uses panel data with 12.903 firm-year observations in emerging markets evidence from 2011 to 2013. To measure IFRS adoption uses score based on three distinctions of the type from IFRS adoption in respective countries. And then for dependent variable in this study is earnings persistence. While for the investor protection uses strength of investor protection index proxy from World Bank.The findings imply that in the context of emerging markets, IFRS adoption is not associated with future earnings persistence. While a stronger investor protection in the country significantly correlated with greater earnings persistence. Keywords: IFRS adoption, investor protection, earnings persistence, emerging markets, properties of earnings

  7. The Accelerator Reliability Forum

    CERN Document Server

    Lüdeke, Andreas; Giachino, R

    2014-01-01

    A high reliability is a very important goal for most particle accelerators. The biennial Accelerator Reliability Workshop covers topics related to the design and operation of particle accelerators with a high reliability. In order to optimize the over-all reliability of an accelerator one needs to gather information on the reliability of many different subsystems. While a biennial workshop can serve as a platform for the exchange of such information, the authors aimed to provide a further channel to allow for a more timely communication: the Particle Accelerator Reliability Forum [1]. This contribution will describe the forum and advertise it’s usage in the community.

  8. MACROECONOMIC OUTLOOK THROUGH THE EYES OF INVESTORS: FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENT

    OpenAIRE

    Olivera Ecaterina OROS

    2014-01-01

    A country's economy growth is depending on the investments, either direct or indirect, made in it. Also, the level of the foreign direct investments is a relevant indicator for other potential investors. While lenders are looking at the financial statement to understand the company's ability to repay debt, the investors are looking at the financial statements to understand the company's ability to grow. The IASB's Conceptual framework for financial reporting offers a standardized model of fin...

  9. 2nd Developers@CERN Forum

    CERN Multimedia

    CERN. Geneva

    2016-01-01

    Are you a Python guru or would you like to learn?   The Developers@CERN Forum is an event by developers, for developers, aimed at promoting knowledge and experience sharing. This edition will take place at the IT Amphitheatre, on the 30th and 31st of May afternoons. It will consist of a series of short presentations and workshops. The topic for this conference will be Python at CERN: language, frameworks and tools. Have you got an idea for a presentation or workshop? Then, tell us about it (deadline on 9th of May). Registration will open in early May. Please subscribe to developers-forum-announce@cern.ch mailing list for further information. This event will be made by developers for developers. We are counting on your presence, but also on your contributions! To learn more about the initiative, read the CERN Bulletin article. Organization You can get in touch us at developers-forum-organizers@cern.ch.

  10. 3rd Developers@CERN Forum

    CERN Multimedia

    CERN. Geneva

    2017-01-01

    It's about U and I !   The Developers@CERN Forum is an event by developers, for developers, aimed at promoting knowledge and experience sharing. This edition will take place at the IT Amphitheatre, on the 13th, 14th and 15th of February afternoons. It will consist of a series of short presentations and workshops. The topic for this conference will be Frontend & User interfaces. Have you got an idea for a presentation or workshop? Then, tell us about it (deadline on 27th of January). Registration will open in November. Please subscribe to developers-forum-announce@cern.ch mailing list for further information. This event will be made by developers for developers. We are counting on your presence, but also on your contributions! To learn more about the initiative, read the CERN Bulletin article. Organization You can get in touch us at developers-forum-organizers@cern.ch.

  11. 75 FR 75711 - Securities Investor Protection Corporation; Notice of Filing of a Proposed Bylaw Change Relating...

    Science.gov (United States)

    2010-12-06

    ... Securities Investor Protection Corporation (``SIPC'') filed with the Securities and Exchange Commission... Members, Rel. No. SIPA-156, 56 FR 51952 (Oct. 16, 1991). \\6\\ Securities Investor Protection Corporation... SECURITIES AND EXCHANGE COMMISSION [Release No. SIPA-169; File No. SIPC-2010-01] Securities...

  12. Designing Biodiversity Friendly Communities. Liveable Cities Forum: Key outcomes and findings

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-10-15

    The Liveable Cities Forum, held 21-22 August in Montreal Canada, created a platform to share best practices on biodiversity management and application at the local level. The Forum also highlighted the importance of partnership building and presented instruments (such as the Singapore Index on Cities' Biodiversity) that help to move the biodiversity agenda forward. A findings report on the Forum has recently been released, offering panel and workshop summaries, key outcomes, and a scope of future opportunities for local governments. Some of the key outcomes are as follows: Biodiversity protection is at its core a local issue, and in order to mitigate biodiversity loss in cities, there is an undeniable need for local governments to come together and work through solutions collectively; Urban centers influence local, regional and global biodiversity. Therefore, it is important that cities con-serve their local biodiversity through the sustainable use of resources beyond their borders; It is important for municipalities to engage and partner with local residents, academic institutions, and organizations, not only to have a finger on the pulse, but also to have local allies and secure long-term support; and Integrated policies help drive action. To effectively mainstream biodiversity at the local level, it is important to incorporate biodiversity considerations into multiple departments, plans and programs.

  13. Forum Commentary

    Science.gov (United States)

    Kanno, Yasuko

    2014-01-01

    Social class has been underresearched in the field of applied linguistics. The central goal of this forum was to stimulate more conversation about social class as it impacts language learning and teaching. In this article, I comment on 3 salient themes that have emerged in the 5 articles: (1) agency and structure in language learning and teaching,…

  14. Modifier words in the financial press and investor expectations

    NARCIS (Netherlands)

    Bosman, Ronald; Kräussl, Roman; Mirgorodskaya, Elizaveta

    2017-01-01

    We experimentally investigate the priming effect of modifier words in the news media by looking at how different formulation of news affects investor expectations and beliefs. We asked subjects to estimate the future stock price for twelve real (anonymous) listed companies. They received information

  15. Investor Response to Appointment of Female CEOs and CFOs

    NARCIS (Netherlands)

    Scholtens, Lambertus; Brinkhuis, Eline

    2018-01-01

    We study the impact of appointing women to top executive positions from an investor perspective. We analyze whether shareholders value announcement of appointment of women to top positions differently than they do appointment of men. This study uses an international sample of 100 announcements of

  16. EMERGING SCIENCE: EPA'S ORD SUPPORTS REGIONAL HAZE PROGRAM; POSTERS FROM BOSC REVIEW AND SCIENCE FORUM

    Science.gov (United States)

    A series of presentations from EPA's Board of Science Councilors review in April 2005 and the Science Forum in May 2005 are being made available to the Regional Planning Organization conference on June 9-10, 2005. Attendees will be able to review the materials during the confere...

  17. Minority politics in the house of medicine: the physicians forum and the New York County Medical Society, 1938-1965.

    Science.gov (United States)

    Brickman, J P

    1999-01-01

    The late 1930s challenged laissez-faire medicine. Recognition of serious inadequacies in the distribution of medical services stirred activists who questioned fee-for-service delivery and posited a national health program, including health insurance. The AMA and its components--state and county medical societies--counterattacked, mobilizing money and their powerful political arsenal to fight government intrusion in private medicine. The Physicians Forum, initially under the leadership of Ernst P. Boas, emerged as a formidable element within the New York County Medical Society (the largest component of the AMA). The Forum provoked discussion of medical indigence and economics, upsetting the Society leadership with independent candidate slates and telling the public that doctors spoke with more than one voice. For 25 years, the Physicians Forum altered the dynamics of the Medical Society of the County of New York. While the Forum effort to institutionalize minority opinion in the councils of medicine failed, the interchange between County regulars and Forum insurgents broadened the medical reform agenda and moved the County Society in directions that historically it had avoided. Although medical economics formed an unbridgeable chasm between County regulars and rebels, Forum members demonstrated that medicine was not monolithic, that "majority opinion [was not] ... unanimous opinion," and that doctors must speak to issues of medical and social policy.

  18. The Working Women's Forum: organizing for credit and change.

    Science.gov (United States)

    Chen, M

    1983-01-01

    The Working Women's Forum (WWF), established in Madras in 1978, has brought together over 13,000 poor urban women around the issue of credit. Most women who live in the slums of Madras work as small-scale traders and vendors, their earnings often providing over half the family income. Interviews with these women revealed that their primary concern was increasing their earning capacity. The WWF was set up to enable these women to obtain low interest loans to expand their businesses. The key element in the WWF structure is the neighborhood loan group, comprised of 10-20 women from the same area who act as mutual guarantors for the loans of all group members. Over 7000 women have received loans and the repayment rate has been over 90%. About 2800 new jobs or businesses have been created, and earnings have increased an average of 50% in existing enterprises. Women report that they are eating better quality and more varied foods as a result of their increased income. The WWF is expanding its activities to address the political and social problems of working women as well. The Forum operates day care centers, skills training centers, and remedial classes for schoolchildren. In 1980 the WWF launched a family planning program in which field workers (who are drawn from the WWF membership and paid $18 per month) disseminate information on health, nutrition, and family planning to families in their communities. According to a staff member, this program was an outcome of the realization that "income generation and large families do not go together." The WWF also promotes intercaste, no dowry marriages and lobbies for public services. Women have become more confident of the possibility of gaining control over their lives, including their fertility. The WWF experience demonstrates that an organization does not need a lot of money, educated staff, or technical expertise to reach poor women. The Forum's success is attributed to its selection of one critical issue, utilization of

  19. Faktor Demografis, Personality Traits, dan Overconfidence (Survey Terhadap Investor Saham di Yogyakarta

    Directory of Open Access Journals (Sweden)

    Liring Dwi Utami

    2016-06-01

    Full Text Available AbstrakPenelitian ini bertujuan untuk mengetahui hubungan antara faktor demografi, personality traits dan overconfidence pada Investor saham di Yogyakarta. Faktor demografis yang digunakan berupa jenis kelamin, usia, pendidikan dan lama investasi sedangkan personality traits menggunakan the big five personality. Penelitian ini menggunakan kuesioner yang disebar kepada 100 orang investor yang dipilih secara random. Sebanyak 87 kuesioner digunakan, sedangkan 13 lainnya didiskualifikasi karena jawaban kuesioner yang tidak lengkap. Data diolah menggunakan SPPS dengan alat ukur Chi Square dan Pearson Correlation. Hasil dari penelitian menemukan bahwa semua faktor demografi yaitu usia, jenis kelamin, pendidikan dan lama investasi tidak berhubungan dengan overconfidence. Hasil lain menunjukkan adanya hubungan yang positif antara conscientiousness dengan overconfidence. Sedangkan extraversion, agreeableness, neuroticism dan openness to experience tidak mempunyai hubungan dengan overconfidence.AbstractThis study aims to determine the relationship between demographic factors, personality traits, and overconfidence with stock investors in Yogyakarta. Demographic factors used are gender, age, education and time frame of holding, while the big five personality was used as a proxy of personality traits. This study used a questionnaire distributed to 100 randomly selected investors. A total of 87 questionnaires were used, while the other 13 were disqualified because of incomplete answers to the questionnaire. The data were processed using chi square and Pearson correlation. The results of the study found that all the demographic factors (age, gender, education and time frame holding had no association with overconfidence. Other results showed a positive relationship between conscientiousness with overconfidence. Whereas extraversion, agreeableness, neuroticism and openness to experience were not related to overconfidence.

  20. Did the financial crisis lead to changes in private equity investor preferences regarding renewable energy and climate policies?

    International Nuclear Information System (INIS)

    Hofman, Daan M.; Huisman, Ronald

    2012-01-01

    examined the preferences of 60 clean-tech venture capital and private equity investors regarding renewable energy and climate policies in 2007. This paper presents the results of a research project that examined whether these investor preferences changed due to the financial crisis. We re-conducted that part of survey that focuses on the preferences for 12 market-pull policies. Comparing our results with those from 2007, we found that the popularity of 11 out of 12 policies decreased. The decrease was significant for those policies that involve subsidies and trade related schemes such as CO 2 emissions and green certificates trading. The decrease in the popularity of the policies was mainly the result of changes in the preferences of European investors, whereas the preferences of North American investors did not change noteworthy. - Highlights: ► We re-conducted a survey among clean-tech private equity and venture capital investors. ► We compare their preference for renewable energy and climate market-pull policies with survey results from 2006. ► We found a significant decrease in popularity for those policies such as subsidies and trade related schemes. ► Especially the preferences for renewable energy policies of European investors declined. ► The financial crises lead to a reduced preference for renewable energy policies.

  1. Programs that work : California case examples

    International Nuclear Information System (INIS)

    Rodgrigues, G.

    2007-01-01

    Examples of programs that work in California with respect to greenhouse gas emissions were discussed. Specifically, Southern California Edison (SCE) was noted as one of the country's largest investor-owned utilities that has provided environmental leadership in this area. Energy, environment, economy, and community were mentioned as being the four value propositions for demand side management (DSM) programs. The environmental benefits of California investor-owned utilities programs were also discussed. Customer participation in SCE's energy efficiency programs was defined as an important measure of success. Other topics that were addressed in the presentation included energy efficiency in the long-term resource plan; ratcheting codes and standards; effective marketing and outreach; residential and non-residential programs; partnership programs; and competitively-selected programs. Measurement, verification and evaluation were noted as being real savings. Initiatives on the horizon such as the California solar initiative and Edison smartconnect were presented. tabs., figs

  2. Proceedings of the Canadian Solar Industries Association Solar Forum 2005 : sunny days ahead : a forum on solar energy for government officials

    International Nuclear Information System (INIS)

    2006-01-01

    Solar energy is the fastest growing energy source in the world. Government involvement is critical in the deployment of solar energy. This forum focused on the application of solar energy in government facilities. The forum was divided into 3 sessions: (1) solar technologies and markets; (2) government initiatives that support solar energy; and (3) the use of solar energy on government facilities in Canada. The current state of solar technologies and products in Canada was reviewed. Solar thermal markets were discussed with reference to passive solar energy and photovoltaic applications. On-site solar generation for federal facilities was discussed, and various federal initiatives were reviewed. Issues concerning Ontario's standard offer contract program were discussed. Government users and buyers of solar products spoke of their experiences in using solar energy and the challenges that were faced. The role that solar energy can play in reducing government costs was discussed, as well as the impact of solar energy on the environment. Opportunities and barriers to the use of solar energy in Canada were explored. The conference featured 14 presentations, of which 2 have been catalogued separately for inclusion in this database. refs., tabs., figs

  3. 78 FR 53790 - Public Forum-Safety Culture: Enhancing Transportation Safety

    Science.gov (United States)

    2013-08-30

    ... NATIONAL TRANSPORTATION SAFETY BOARD Public Forum--Safety Culture: Enhancing Transportation Safety On Tuesday and Wednesday, September 10-11, 2013, the National Transportation Safety Board (NTSB) will convene a forum titled, ``Safety Culture: Enhancing Transportation Safety.'' The forum will begin at 9:00...

  4. Study on financial risk towards individual investor as strategy to improve urban community empowerment

    Science.gov (United States)

    Leon, F. M.; Aprilia, A.

    2018-01-01

    Investor will be always influenced by its risk tolerance when investing, each investor has own risk tolerance that differ to another, although this still being questioned until now. This research aimed to know the influence of demography factor in distinguish and classify Financial Risk Tolerance (FRT) and Financial Risk Taking Behavior (FRB) to individual investor. Methodology in this research is data that used as primary data which distributed by offline and online. The sample in this research is 642 respondents in Jakarta. Logistic regression is analyze method that used in this research. The research found that there is influence of gender, marital, status, education and income level to Financial Risk Tolerance (FRT) and Financial Risk Taking Behavior (FRB). For FRT significantly 0.000 for gender and marital status; 0.010 for education and 0.001 for income level. Whereas for FRB significantly 0.000 for gender; 0.003 for marital status and 0.010 for education level. The research contribution is crucial for financial advisor to notice the characteristic investor based on demography factor such as gender, marital, status, education level and income level. Therefore, this research able to give optional decision for appropriate investment to clients as ones of strategy to improve urban community empowerment.

  5. MACROECONOMIC OUTLOOK THROUGH THE EYES OF INVESTORS: FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENT

    Directory of Open Access Journals (Sweden)

    Olivera Ecaterina OROS

    2014-05-01

    Full Text Available A country's economy growth is depending on the investments, either direct or indirect, made in it. Also, the level of the foreign direct investments is a relevant indicator for other potential investors. While lenders are looking at the financial statement to understand the company's ability to repay debt, the investors are looking at the financial statements to understand the company's ability to grow. The IASB's Conceptual framework for financial reporting offers a standardized model of financial statement that is about to change.

  6. The Environmental and Ecological Forum 1970-1971.

    Science.gov (United States)

    Atomic Energy Commission, Washington, DC. Office of Information Services.

    This report contains the papers presented in the 1970-1971 Environmental and Ecological Forum series, planned to provide an overview of the significant environmental, social, and economic aspects of electric power generation, more specifically, the pros and cons of nuclear power production. The Forum was organized as a public service to foster…

  7. The Influence of Investor Number on a Microscopic Market Model

    Science.gov (United States)

    Hellthaler, T.

    The stock market model of Levy, Persky, Solomon is simulated for much larger numbers of investors. While small markets can lead to realistically looking prices, the resulting prices of large markets oscillate smoothly in a semi-regular fashion.

  8. Activism of Institutional Investors, Corporate Governance Alerts and Financial Performance

    OpenAIRE

    Jean-Sebastien Lantz; Sophie Montandrau; Jean-Michel Sahut

    2014-01-01

    Institutional investors are predominant on the financial markets and are becoming more active in their portfolio management. This article attempts to enhance our understanding of the incidence of shareholder activism on market reaction in the wake of seve

  9. 78 FR 19024 - Lithium Ion Batteries in Transportation Public Forum

    Science.gov (United States)

    2013-03-28

    ... NATIONAL TRANSPORTATION SAFETY BOARD Lithium Ion Batteries in Transportation Public Forum On Thursday and Friday, April 11-12, 2013, the National Transportation Safety Board (NTSB) will convene a forum titled, ``Lithium Ion Batteries in Transportation.'' The forum will begin at 9:00 a.m. on both...

  10. Should U.S. investors hold foreign stocks?

    OpenAIRE

    Asani Sarkar; Kai Li

    2002-01-01

    U.S. investors have traditionally been reluctant to acquire foreign securities_in part, perhaps, because they fear that restrictions on trading in foreign markets will sharply limit any gains they might realize from diversifying their portfolios. An analysis of the effects of one type of restriction, short-sale constraints, on stock returns between 1976 and 1999 suggests that investing in emerging market stocks offers substantial benefits even when a ban on short sales is in place.

  11. Users’ attention behaviors and features in internet forum

    Directory of Open Access Journals (Sweden)

    Yong-Zhong Sha

    2015-11-01

    Full Text Available Purpose: Attention resource is scarce. Organizing community activities in online forums faces the challenge of attracting users’ limited attention. Understanding how users of online forums allocate, maintain, and change their attentional focus and what features of online forms influence their attention behaviors is critical for effective information design. This paper seeks understanding of users’ attention behaviors and features when they participate in discussions in online forums. Design/methodology/approach: A conceptual model was established to explore the indicator system of attention’s measurement. The related attention data were collected from Alexa Access Statistics Tool and Katie community. Then this paper computed the correlation coefficient and regression relationship between the indicators of visual attention and cognitive attention. Thereafter this paper analyzed and discussed users’ attention behaviors and features in Internet forum. Findings: Relevant bivariate correlation analysis and regression analysis discovers that Internet forum's attention is mainly as visual attention in users’ early involvement. Attention resources can be transformed. In a deep participation, users’ cognitive attention is more significant. Meanwhile cognitive attention behaviors’ further development will lead to the phenomenon that cognitive attention input is prone to increase faster in the early duration. That means in-depth discussion and interaction are more likely to appear in the early stages of participation. Research limitations/implications: There are some limitations about this study. The indicators are not comprehensive enough because factors affecting the distribution of attention resources in Internet forums are complex. We didn’t distinguish different types of Internet forums when we collected the relevant data. Future research will focus more on how to obtain comprehensive attention data. Originality/value: T his paper

  12. Do executives' backgrounds matter to IPO investors? Evidence from the life science industry.

    Science.gov (United States)

    Chok, Jay; Qian, Jifeng

    2013-01-01

    In this study, we focus on the impact of senior executives' industry backgrounds on the amount of capital raised in the stock market. The primary contribution of the study entails applying the upper echelon theory to the initial public offering (IPO) phenomenon. Specifically, we hypothesize that the industry backgrounds of corporate executives affect the amount of capital that the firm raised in the primary stock market. We argue that the firm's future investment strategies are unobserved by the investors ex-ante and investors expect firms' investment strategies to be based on the executives' industry backgrounds. As a result, the executives' industry backgrounds influence the investors' expectations about what investment strategies the firm is likely to deploy. Furthermore, the above logic also suggests that executives of different industry backgrounds should prefer different investment strategies corresponding with demand for different amount of capital. As a result, we expect the industry backgrounds to covary with the capital raised from both the supply and demand perspectives. To test the hypotheses, we ran a reduced econometric model wherein the executives' background predicts the amount of capital raised. Regression analyses suggest that the capital raised is negatively associated with the number of senior executives with prior career experience in the healthcare and genomic sectors but positively associated with the number of senior executives with prior career experience in regulatory affairs. The results provide tentative support for the notion that investors infer corporate strategies from senior executives' industry backgrounds.

  13. Do executives' backgrounds matter to IPO investors? Evidence from the life science industry.

    Directory of Open Access Journals (Sweden)

    Jay Chok

    Full Text Available In this study, we focus on the impact of senior executives' industry backgrounds on the amount of capital raised in the stock market. The primary contribution of the study entails applying the upper echelon theory to the initial public offering (IPO phenomenon. Specifically, we hypothesize that the industry backgrounds of corporate executives affect the amount of capital that the firm raised in the primary stock market. We argue that the firm's future investment strategies are unobserved by the investors ex-ante and investors expect firms' investment strategies to be based on the executives' industry backgrounds. As a result, the executives' industry backgrounds influence the investors' expectations about what investment strategies the firm is likely to deploy. Furthermore, the above logic also suggests that executives of different industry backgrounds should prefer different investment strategies corresponding with demand for different amount of capital. As a result, we expect the industry backgrounds to covary with the capital raised from both the supply and demand perspectives. To test the hypotheses, we ran a reduced econometric model wherein the executives' background predicts the amount of capital raised. Regression analyses suggest that the capital raised is negatively associated with the number of senior executives with prior career experience in the healthcare and genomic sectors but positively associated with the number of senior executives with prior career experience in regulatory affairs. The results provide tentative support for the notion that investors infer corporate strategies from senior executives' industry backgrounds.

  14. Do Executives' Backgrounds Matter to IPO Investors? Evidence from the Life Science Industry

    Science.gov (United States)

    Chok, Jay; Qian, Jifeng

    2013-01-01

    In this study, we focus on the impact of senior executives' industry backgrounds on the amount of capital raised in the stock market. The primary contribution of the study entails applying the upper echelon theory to the initial public offering (IPO) phenomenon. Specifically, we hypothesize that the industry backgrounds of corporate executives affect the amount of capital that the firm raised in the primary stock market. We argue that the firm's future investment strategies are unobserved by the investors ex-ante and investors expect firms' investment strategies to be based on the executives' industry backgrounds. As a result, the executives' industry backgrounds influence the investors' expectations about what investment strategies the firm is likely to deploy. Furthermore, the above logic also suggests that executives of different industry backgrounds should prefer different investment strategies corresponding with demand for different amount of capital. As a result, we expect the industry backgrounds to covary with the capital raised from both the supply and demand perspectives. To test the hypotheses, we ran a reduced econometric model wherein the executives' background predicts the amount of capital raised. Regression analyses suggest that the capital raised is negatively associated with the number of senior executives with prior career experience in the healthcare and genomic sectors but positively associated with the number of senior executives with prior career experience in regulatory affairs. The results provide tentative support for the notion that investors infer corporate strategies from senior executives' industry backgrounds. PMID:23690920

  15. Sovereign wealth funds as special international investors under global financial downfall

    Directory of Open Access Journals (Sweden)

    N. Drozd

    2013-02-01

    Full Text Available An overview of origin, functional orientation and characteristics of sovereign wealth funds is presented. Possibility and necessity of cooperation between Ukraine and such systemic investors is proven.

  16. An investor perspective on forming and funding your medical device start-up.

    Science.gov (United States)

    Mas, Juan-Pablo; Hsueh, Brian

    2017-06-01

    Novel and transformative medical technologies of all forms have the potential to make a significant positive impact on the lives of patients and on the health care system, and one common pathway for guiding such innovations from concept through commercialization is via the formation of a company. For entrepreneurs looking to build a medical technology company, several common challenges await, including questions around how and where to raise funding. Here, we review key considerations for the formation of medical technology companies as viewed through the lens of an investor. We survey common sources of capital for early-stage companies, including grants, angel investors, and venture capital, and offer insights into how to differentiate among them to select the best partners for your start-up׳s needs. Finally, we discuss the critical components of pitching your ideas to potential investors, and offer guidance on best practices and common mistakes. We hope this primer on fundamental concepts and the various health care funding alternatives will prepare entrepreneurs to achieve their mission to improve patients׳ lives through commercialization of their medical innovations. Copyright © 2017 Elsevier Inc. All rights reserved.

  17. Self-Governance on Trial: A Public Sphere Analysis of News Website Forum Comments

    Directory of Open Access Journals (Sweden)

    J. David Wolfgang

    2016-04-01

    Full Text Available The online public sphere offers society an opportunity to pursue self-governance through rational-critical discourse of public issues. However, testing the effectiveness of the sphere involves studying the structure of the online forum (e.g. whether the forum allows for pseudonymous comments or not and the quality of the content in the forum. This research studied online news forums on the topics of gun control and civil unions in Colorado to see what barriers to participating in the forum might exist in the structure of the forum and then what types of content was produced in the forum. The research showed that a forum allowing commenters to use a pseudonym led to comments with more exchange and critique of reasoned normative positions and use of supporting facts. However, neither the pseudonymous forum nor the identified forum had stronger levels of commitment to constructive dialogue in the forum. Also, commenters showed no reflexivity in their comments, meaning that participants were not assessing their own positions or changing their perspectives based on the arguments of others. While this shows that reducing barriers to accessing the forum helps to produce a public sphere environment, there is still work to be done in improving the level of constructive dialogue and stimulating negotiation and consensus building.

  18. Financial education, investor protection and international portfolio diversification

    OpenAIRE

    Maela Giofré

    2012-01-01

    This paper investigates the tension between regulation and financial education in explaining one of the major puzzles in international finance, that is the lack of international diversification. We show that both dimensions are relevant: higher investor’s financial education fosters international investment and stronger minority investor protection legislation attracts inward investment. More interestingly, these factors appear to be substitute in enhancing investor’s portfolio diversificatio...

  19. Backward linkages from foreign investors to domestic firms

    OpenAIRE

    Apostolov, Mico

    2016-01-01

    The analysis of how to design policies to promote backward linkages would not be complete without introducing sound discovery into the debate. Foreign investors would naturally prefer to avoid creating rivals to their market position, aiming at horizontal positioning. But workers and managers often leave foreign plants to start up their own; local firms learn from watching the operations of foreigners. In the vertical direction, in cont...

  20. Programs that work : California case examples

    Energy Technology Data Exchange (ETDEWEB)

    Rodgrigues, G. [Southern California Edison, Rosemead, CA (United States)

    2007-07-01

    Examples of programs that work in California with respect to greenhouse gas emissions were discussed. Specifically, Southern California Edison (SCE) was noted as one of the country's largest investor-owned utilities that has provided environmental leadership in this area. Energy, environment, economy, and community were mentioned as being the four value propositions for demand side management (DSM) programs. The environmental benefits of California investor-owned utilities programs were also discussed. Customer participation in SCE's energy efficiency programs was defined as an important measure of success. Other topics that were addressed in the presentation included energy efficiency in the long-term resource plan; ratcheting codes and standards; effective marketing and outreach; residential and non-residential programs; partnership programs; and competitively-selected programs. Measurement, verification and evaluation were noted as being real savings. Initiatives on the horizon such as the California solar initiative and Edison smartconnect were presented. tabs., figs.

  1. 4. heat pump forum. Politics, market, finances, marketing and sales. Proceedings 2006; 4. Forum Waermepumpe. Politik, Markt, Finanzierung, Marketing und Vertrieb. Tagungsband 2006

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-07-01

    The fourth heat pump forum is characterised by the latest state-of-the art. For the first time you will receive as forum documents not only the proceedings but also an updated agenda, supplemented by the latest business field information and an overview of distinctive achievements of the company Solarpraxis AG. Highly qualified representatives will be present at the plenary discussion on both forum days for the first time, too. This year the heat pump forum again consists of talks, impulse presentations, discussions and workshops dealing in many different ways and based on a proven concept with the topics politics, market, finances, marketing and sales. In terms of contents the forum covers all topics, which are of importance for a further growth of the heat pump field: political frame conditions as basis for a stable home market, heat pumps in old buildings, marketing strategies as well as quality assurance and practice. (orig.)

  2. 78 FR 28273 - Alpine Investors IV SBIC, LP; Notice Seeking Exemption Under Section 312 of the Small Business...

    Science.gov (United States)

    2013-05-14

    ... SMALL BUSINESS ADMINISTRATION [License No. 09/09-0461] Alpine Investors IV SBIC, LP; Notice... hereby given that Alpine Investors IV SBIC, LP, 3 Embarcadero Center, Suite 2330, San Francisco, CA, a...'') Rules and [[Page 28274

  3. Investor protection : towards additional EU regulation of investment funds?

    NARCIS (Netherlands)

    Wegman, Hanna Elisabeth

    2016-01-01

    The expansion of the fund industry has been one of the most notable trends in the financial markets of recent years. Not only has the demand for funds among EU investors grown, but both the number and types of investment funds also continue to increase. Since investment funds available in the EU can

  4. Foreign versus domestic institutional investors in emerging markets: Who contributes more to firm-specific information flow?

    Directory of Open Access Journals (Sweden)

    Jeong-Bon Kim

    2015-03-01

    Full Text Available Using a large sample of firms listed on the Korea Stock Exchange over 1998–2007, this study investigates whether and how trading by foreign and domestic institutional investors improves the extent to which firm-specific information is incorporated into stock prices, captured by stock price synchronicity. We find, first, that stock price synchronicity decreases significantly with the intensity of trading by foreign investors and domestic institutional investors. Second, trading by foreign investors facilitates the incorporation of firm-specific information into stock prices to a greater extent than trading by aggregate domestic institutions. Third, among domestic institutions with differing investment horizons, short-term investing institutions, such as securities and investment trust companies, play a more important role in incorporating firm-specific information into stock prices via their trading activities, compared with long-term investing institutions, such as banks and insurance companies. Finally, we provide evidence suggesting that trading by foreign and domestic short-term institutions reduces the extent of accrual mispricing. Our results are robust to a variety of sensitivity checks.

  5. Underpricing, underperformance and overreaction in initial public offerings: Evidence from investor attention using online searches.

    Science.gov (United States)

    Vakrman, Tomas; Kristoufek, Ladislav

    2015-01-01

    Online activity of Internet users has proven very useful in modeling various phenomena across a wide range of scientific disciplines. In our study, we focus on two stylized facts or puzzles surrounding the initial public offerings (IPOs) - the underpricing and the long-term underperformance. Using the Internet searches on Google, we proxy the investor attention before and during the day of the offering to show that the high attention IPOs have different characteristics than the low attention ones. After controlling for various effects, we show that investor attention still remains a strong component of the high initial returns (the underpricing), primarily for the high sentiment periods. Moreover, we demonstrate that the investor attention partially explains the overoptimistic market reaction and thus also a part of the long-term underperformance.

  6. A Hybrid Approach for Thread Recommendation in MOOC Forums

    OpenAIRE

    Ahmad. A. Kardan; Amir Narimani; Foozhan Ataiefard

    2017-01-01

    Recommender Systems have been developed to provide contents and services compatible to users based on their behaviors and interests. Due to information overload in online discussion forums and users diverse interests, recommending relative topics and threads is considered to be helpful for improving the ease of forum usage. In order to lead learners to find relevant information in educational forums, recommendations are even more needed. We present a hybrid thread recommender system for MOOC ...

  7. European Stirling forum 2000. Proceedings; Europaeisches Stirling Forum 2000. Tagungsband

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-07-01

    This document comprises all 42 papers presented at the 'European Stirling Forum 2000', held in Osnabrueck on February 22-24, 2000. Among others, the following subjects were discussed: Thermodynamics, new developments, Stirling engines, free piston heat pumps, flow optimisation of regenerators for Stirling engines, simulation for modelling of flow and heat transfer in the gas cycle of Stirling engines, design and performance, Stirling refrigerators, economic efficiency of biomass Stirling engines, power control of a Stirling CHP system, a Stirling refrigerator for ultralow temperatures in the refrigeration industry. [German] Das vorliegende Dokument enthaelt alle (42) Beitraege der Referenten des 'Europaeischen Stirling Forums 2000', das vom 22. bis 24. Februar 2000 in Osnabrueck stattgefunden hat. Einige der behandelten Themenschwerpunkte im Zusammenhang mit der Stirling-Maschine waren die Thermodynamik, neue Entwicklungen des Kreisprozesses, Heissgasmotoren, Freikolben-Waermepumpe, stroemungstechnische Optimierung von Regeneratoren fuer Stirling-Maschinen, Simulation zur Modellierung der Stroemung und Waermeuebertragung im Gaskreislauf von Stirling-Maschinen, Entwurf und Betriebsverhalten, Stirling-Kaeltemaschine, Wirtschaftlichkeit von Biomasse-Stirlingmotoren, Leistungsregelung eines Stirling-Blockheizkraftwerks, Anwendung eines Stirling-Kuehlers, zum Ultratiefkuehlen in der Kuehlindustrie. (AKF)

  8. EUROSAFE forum 2016

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2016-07-01

    The proceedings of the Eurosafe forum 2016 includes contributions to the following issues: Seminar 1: nuclear installation safety - assessment; Seminar 2: Nuclear installation safety - research; Seminar 3: Waste management and decommissioning - dismantling; Seminar 4: radiation protection, environment and emergency preparedness; Seminar 5: security of nuclear installations and materials.

  9. How investor perceptions drive actual trading and risk-taking behavior

    NARCIS (Netherlands)

    Hoffmann, A.O.I.; Post, T.; Pennings, J.M.E.

    2015-01-01

    Recent work in behavioral finance showed how investors' perceptions (i.e., return expectations, risk tolerance, and risk perception) affect hypothetical trading and risk-taking behavior. However, are such perceptions also capable of explaining actual trading and risk-taking behavior? To answer this

  10. A tale of values-driven and profit-seeking social investors

    NARCIS (Netherlands)

    Derwall, J.M.M.; Koedijk, C.G.; Ter Horst, J.R.

    2011-01-01

    The segmentation of the socially responsible investing (SRI) movement with a values-versus-profit orientation solves the puzzling evidence that both socially responsible and controversial stocks produce superior returns. We derive that the segment of values-driven investors primarily uses “negative”

  11. 17 CFR 240.15b5-1 - Extension of registration for purposes of the Securities Investor Protection Act of 1970 after...

    Science.gov (United States)

    2010-04-01

    ... purposes of the Securities Investor Protection Act of 1970 after cancellation or revocation. 240.15b5-1... purposes of the Securities Investor Protection Act of 1970 after cancellation or revocation. Commission... member within the meaning of Section 3(a)(2) of the Securities Investor Protection Act of 1970 for...

  12. Debunking the Monday Irrationality through the External Affection of Investors

    Directory of Open Access Journals (Sweden)

    Rayenda Brahmana

    2016-02-01

    Full Text Available This study aims to reveal the mechanism of the influences of the full moon and high temperatures on investors’ Monday irrationality. In contrast to other studies, this research was built under a retroductive approach by using a time series quasi experimental study. Investors were directly assessed for their irrationality by using an adapted psychometric test on 4 occasions. The results indicate that there were indeed effects of the full moon and high temperatures on investors’ irrationality. Because the full moon and high temperatures frequently occurred on Mondays, it is most probably those two variables that were the drivers of the Monday irrationality. In the end, we concluded that the rational behaviour assumption can no longer be held. Instead of rationality, the investors were quasi rational. The utility function of Von Neumann-Morgenstern in decision making has to be replaced by the hedonic utility.

  13. GOOD CORPORATE GOVERNANCE MECHANISMS IN MEASURING QUALITY OF FINANCIAL STATEMENTS AND TRANSFER INVESTOR LEVELS

    OpenAIRE

    Hani, Syafrida; UMSU, Hafsah

    2017-01-01

    ABSTRACTThis study aims to develop a theory of determining the quality of financial statement reports that can increase  investor  confidence  in  financial  information  presented  by management.  This  research would like to find the role of good corporate governance  in improving the quality of financial statements as measured by accounting conservatism and earnings management, then it will be seen how the quality ability of financial statement can influence investor confidence level. The ...

  14. LLW Forum meeting report, July 20--22, 1994

    International Nuclear Information System (INIS)

    1994-01-01

    The Low-Level Radioactive Waste Forum (LLW Forum) is an association of state and compact representative, appointed by governors and compact commissions, established to facilitate state and compact commission implementation of the Low-Level radioactive Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The forum provides an opportunity for states and compacts to share information with one another and to exchange views with officials of federal agencies. This report details activities of the meeting held July 20-22, 1994

  15. 10. national workshop of the NEA Forum on Stakeholder Confidence

    International Nuclear Information System (INIS)

    Martin, Kamishan; )

    2017-01-01

    The Forum on Stakeholder Confidence (FSC) was established by the NEA Radioactive Waste Management Committee (RWMC) in the year 2000. It fosters learning about stakeholder dialogue and ways to develop shared confidence, informed consent and acceptance of radioactive waste (RW) management solutions. A 'stakeholder' is defined as anyone with a role to play or an interest in the process of deciding about RW management. The FSC provides a setting for direct stakeholder exchange in an atmosphere of mutual respect and learning. Participating in this forum are government policy and regulatory officials, R and D specialists, implementers, and industry representatives from NEA member countries. Together they analyse, document and provide recommendations on today's and tomorrow's processes for embedding waste management programs into a socio-political decision-making context. The FSC convenes annually for a regular meeting and is often complemented by an FSC national workshop. The regular meetings include lectures and topical case study sessions to share experiences. FSC national workshops are organised in volunteer NEA member countries to bring together all the national stakeholders to provide a neutral ground for discussion, dialogue and advancement of knowledge on long-term radioactive waste management. FSC members and other international actors involved in RW management are invited to learn about the host country's waste management program and provide support by giving an external reflection built up on their own experience. They are often supplemented by a half a day devoted to a community visit (potential or selected site for a repository) or open event (public meeting or debate). 2016 marked the 10. national workshop of the FSC which took place in Switzerland. It focused on 'Bridging Gaps - Developing Sustainable Inter-generational Decision-making in Radioactive Waste Management'. The workshop provided a forum for the participants from around the world to learn from

  16. TVA, Abnormal Return, and Investor Perception on Changing of Tick Size 2 May 2016

    Directory of Open Access Journals (Sweden)

    Tri Gunarsih

    2017-07-01

    Full Text Available The objective of this study was to analyze the market reaction to the changing of capital market’s tick size regulation in May 2, 2016. The main goal of the regulation was to increase the capital market liquidity, then it’s important to test whether there was a difference in market liquidity before and after the regulation released. The method of this study was studying with Trading Volume Activity (TVA and abnormal return based on secondary data and also investor perception based on primary data. The secondary data consist of 65 samples of listed companies in Indonesia Stock Exchange. The primary data consist of 67 investors in Yogyakarta that were selected using purposive sampling method.The result of this study was mix, there was no difference before and after the release of regulation in TVA, but there was a difference in abnormal return. The result of investor perception shows that there was a positive response to the changing of tick size regulation.

  17. 76 FR 35245 - Country Investors Life Assurance Company, et al.

    Science.gov (United States)

    2011-06-16

    ... SECURITIES AND EXCHANGE COMMISSION [Release No. IC-29691; File No. 812-13865] Country Investors Life Assurance Company, et al. June 9, 2011. AGENCY: Securities and Exchange Commission (the ``Commission''). ACTION: Notice of application for an order pursuant to Section 26(c) of the Investment Company...

  18. Overconfident investors in the LLS agent-based artificial financial market

    NARCIS (Netherlands)

    Lovric, M.; Kaymak, U.; Spronk, J.

    2009-01-01

    Agent-based artificial financial markets are bottom-up models of financial markets which explore the mapping from the micro level of individual investor behavior into the macro level of aggregate market phenomena. It has been recently recognized in the literature that such (agentbased) models are

  19. Capital Market Theories: Market Efficiency Versus Investor Prospects

    OpenAIRE

    Kathleen Hodnett; Heng-Hsing Hsieh

    2012-01-01

    This paper reviews the development of capital market theories based on the assumption of capital market efficiency, which includes the efficient market hypothesis (EMH), modern portfolio theory (MPT), the capital asset pricing model (CAPM), the implications of MPT in asset allocation decisions, criticisms regarding the market portfolio and the development of the arbitrage pricing theory (APT). An alternative school of thought proposes that investors are irrational and that their trading behav...

  20. JASAL Forum 2011: Growing Trends in Self-Access Learning

    Directory of Open Access Journals (Sweden)

    Azusa Kodate

    2012-03-01

    Full Text Available The annual JASAL forum was held in Tokyo in 2011 in keeping with the theme of the JALT 2011 conference, ‘Teaching, Learning, and Growing’.Drawing on the theme of this year’s JASAL forum, ‘Growing Trends in Self-Access Learning’, several different trends emerged from the two paper and five poster presentations that illustrate the ongoing growth of the field. Contents of the presentations varied widely from an administrative operation of a self-access centre (hereafter SAC to research findings about SAC users. Having approximately 45 people including presenters at the forum, active discussions in which they shared ideas and professional practices were generated. One of the common points which emerged in the forum was that the form of learning that SACs provide is becoming more accepted and valued by educational institutions, and this has led to an increase in the number of SACs nationwide in Japan. Against this background, three themes were evident in the presentations given at this year’s forum: focusing on the physical learning environment, providing easier access to learners, and supporting learning processes.

  1. FIAP Forum on Entrepreneurship in Physics

    Science.gov (United States)

    2015-03-01

    With the changes in science as globalization has taken root, the future role of physicists becoming a part of the industrial physics community is more imperative. When 80% of graduating physicists will not be employed in academic positions, and 50% of all jobs for these physicists will be industrial sector, the importance of bringing our next generation of scientists up to speed on industrial applications is becoming much more important with the rapid, world-wide development of technology. FIAP is initiating a forum on entrepreneurship as a major role for the next generation of scientists. As physicists are problem solvers and the entrepreneurial experience is all about problem solving: whether involving technology, building a team, or financing a business. This forum seeks to link successful entrepreneurial physicists with the upcoming generation, through the dissemination of their global expertise and experience. The forum will consist of a panel discussion and then be open to question and answers from the audience.

  2. Investigation into the risk perceptions of investors in the securities of nuclear-dependent electric utilities

    International Nuclear Information System (INIS)

    Spudeck, R.E.

    1983-01-01

    Two weeks prior to the Three Mile Island accident, March 15, 1979, the Nuclear Regulatory Commission ordered five operating nuclear plants shut down in order to reexamine safety standards in these plants. Reports in the popular and trade press during this time suggested that these events, particularly the accident at Three Mile Island, caused investors in the securities of electric utilities that had nuclear-generation facilities to revise their risk perceptions. This study was designed to examine the impact of both the Nuclear Regulatory Commission order and the accident at Three Mile Island on investor risk perceptions. Selected categories of electric utilities were chosen to examine any differential risk effects resulting from these events. An asset pricing model devoid of many of the restrictive assumptions of more familiar models was used to model investor behavior. The findings suggest that the events described did cause investors to revise upward their perceptions of systematic risk regarding different categories of electric utilities. More specifically, those electric utilities that were operating nuclear plants in 1979 experienced the largest and most sustained increase in systematic risk. However, electric utilities that in 1979 had no operating nuclear plants, but had planned and committed funds for nuclear plants in the future, also experienced increases in systematic risk

  3. The Madikwe Forum: a comprehensive partnership for supporting ...

    African Journals Online (AJOL)

    This article presents findings from a qualitative study of a governance structure of the African Comprehensive HIV/AIDS Partnerships (ACHAP), namely the Madikwe Forum. The investigation sought to critically reflect on the role and effectiveness of the Madikwe Forum in Botswana's response to HIV and AIDS and to ...

  4. Learning from your investors: can the geographical composition of institutional investors affect the chance of success in international M&A deals?

    OpenAIRE

    Faelten, A.; Gietzmann, M.; Vitkova, V.

    2013-01-01

    We produce new evidence on whether management which is keen to make foreign acquisitions can benefit from consultation with information-intensive institutional investors who have expertise in the target foreign markets. This research suggests that, in such instances, management should recognise the benefit of effective two-way communication before embarking on such costly strategies. Consistent with theoretical literature, we propose that this can be explained by the fact that complex valuati...

  5. Form and Function in Doing Business Rankings: is Investor Protection in Italy Still so Bad?

    OpenAIRE

    Luca Enriques; Matteo Gargantini

    2016-01-01

    The World Bank’s Doing Business Report (DBR) ranks every year numerous jurisdictions across the globe according to their ability to facilitate business activities. Among the indexes contributing to the definition of the global competitiveness of the legislations, the “Protecting investors index” (PII) measures the protection of minority shareholders in listed companies. In this paper, we analyse the DBR’s assessment of the Italian regulatory framework on investor protection. We find that the ...

  6. 50% of emergency oil and fuel stocks to be stored by investors

    International Nuclear Information System (INIS)

    Beer, G.

    2004-01-01

    The State Material Reserves Administration Office (SMRAO) plans to transfer the administration of about 50% of Slovakian's emergency oil and fuel stocks to investors. Private companies would help to build storage reservoirs and tanks that would allow the storage of strategic stocks to cover consumption in Slovakia for 90 days. The public procurement process is set to start at the end of this year. It should determine who will be awarded contracts for the next 20 years. Up to now, emergency stocks have been stored at Slovnaft, Transpetrol and SMRAO. The storage capacities of SMRAO no longer meet ecological standards. It is estimated that about 660 mil. Sk (16.58 mil. Eur) will be required for the storage capacities to meet the standards. The most expensive item will be the construction of new reservoirs. SMRAO expects this will cost at least 3 bill. Sk (75.35 mil. Eur). SMRAO chairman, Jan Tusim expects that private investors will welcome this opportunity. SMRAO plans to store 5 0% of stocks in private reservoirs and the remaining part in SMRAO reservoirs. Private investors will be obliged to fill the storage reservoirs and pay rent for their usage. The lowest running costs submitted by companies in the tender will determine the tender winner. (author)

  7. Obligation of the host state to act transparently towards the foreign investor

    Directory of Open Access Journals (Sweden)

    Đundić Petar M.

    2016-01-01

    Full Text Available Provisions on obligation of a host state to act transparently towards foreign investors increasingly often find their way into bilateral investment treaties. Their goal is to provide the investor with all information concerning the investment's legal framework and which he needs in order to make an informed decision with regard to his investment. Certain provisions on transparency are so broad in their scope that they demand from the host state to provide an investor with a possibility to participate in the process of adoption of a state measure that could affect his interest. On the other hand, in arbitral practice the obligation to act transparently is traditionally seen as one of the elements of the fair and equitable treatment standard, although the practice has not so far provided a clear answer as to what is the exact role of this element and what is its relationship with other elements of the standard. The paper contains an analysis of transparency provisions from bilateral investment treaties concluded by the Republic of Serbia. The second part of the paper is dedicated to analysis of arbitral awards in which tribunals considered the transparency obligation as a part of the fair and equitable treatment standard.

  8. Fostering professional formation in residency: development and evaluation of the "forum" seminar series.

    Science.gov (United States)

    Nothnagle, Melissa; Reis, Shmuel; Goldman, Roberta E; Anandarajah, Gowri

    2014-01-01

    Residency training is a critical time for physicians' professional formation. However, few structured interventions exist to support residents in this transformative process of integrating personal and professional values, a process that is essential to physician identity formation and preservation of core values such as service and compassion. The authors created a seminar series, the "Forum," to support resident professional formation and address the hidden curriculum as part of a larger intervention to support self-directed learning skills such as goal setting and reflection. Ninety-minute sessions with senior residents and faculty held every other month include opportunities for individual reflection, small- and large-group discussion, and brief didactic components focused on skills such as teaching and leadership. The qualitative program evaluation included analyses of individual semistructured interviews with resident and faculty participants from 2008 to 2011 and of notes recorded by an observer during the 1st year's sessions. Residents appreciated the focus on relevant issues, presence of faculty, opportunities for reflection and interactivity, and inclusion of practical skills. Effects attributed to the Forum included gaining practical skills, feeling a deeper connection to one another and a sense of community, and recognizing progress in their own professional development and growth. Elements described in the literature as essential to professional formation, including encouraging reflection, use of narrative, role modeling, addressing the hidden curriculum, and fostering an authentic community, were recognized by participants as integral to the Forum's success. A group forum for reflection and discussion with peers and role models, tailored to local needs, offers an effective structure to foster professional formation in residency.

  9. Cyber-support: an analysis of online self-help forums (online self-help forums in bipolar disorder).

    Science.gov (United States)

    Bauer, Rita; Bauer, Michael; Spiessl, Hermann; Kagerbauer, Tanja

    2013-06-01

    The Internet is becoming increasingly important in psychiatry and psychotherapy. The objective of this study was to evaluate if and how online self-help forums are used by patients with bipolar disorders, their relatives and treating professionals. A total of 2400 postings in two online forums were analysed qualitatively and quantitatively. "Disclosure", "friendship" and "online-group cohesion" were the main self-help mechanisms. The topics most discussed were "social network", "symptoms of the illness" and "medication". Factor analyses revealed three factors concerning self-help mechanisms: "group cohesion", "emotional support" and "exchange of information", as well as three factors concerning fields of interest: "illness-related aspects", "social aspects" and "financial and legal issues". We infer that the main interest in participating in online forums for patients with bipolar disorders and their relatives is to share emotions and to discuss their daily struggles with the illness. Our study also reveals that social networking is very important for patients coping with bipolar disorders. Psycho-educative programmes should focus on those aspects.

  10. The PREEV project of the Latin American Forum.Regulatory practices on aging and life extension

    International Nuclear Information System (INIS)

    Figueras, J. M.

    2011-01-01

    The American Forum Plenary approved in 2008 the PREEV project, Regulatory Practices in Aging and Life Extension, whose main objective is to improve the regulatory action with regard to the management programs of life and long-term operation of nuclear power plants in the countries of the region Latin American.

  11. Members of the Forum Engelberg visit CERN

    CERN Multimedia

    Patrice Loïez

    2002-01-01

    The Forum Engelberg is an annual interdisciplinary conference held in Engelberg, Switzerland intended to act as an international platform for debate and exchange of views on key issues affecting scientific research, technology, economics and philosophy. Its President is Hubert Curien - former French Minister of Research and Space Research, and President of the CERN Council from 1994 to 1996.Seated here at a presentation by Peter Jenni, spokesperson for the ATLAS collaboration, during the visit of Forum members and Geneva public figures are Bernard Ecoffey, Founder of the Forum Engelberg (left), and Jean-Claude Landry, Department of the Interior, Agriculture and Environment, state of Geneva. Photo 01: (left to right) Bernard Ecoffey, Jean-Claude Landry and Peter Jenni. Photos 02, 03: (left to right) Jean-Claude Landry, Bernard Ecoffey and Peter Jenni.

  12. Mean Reversion in Stock Prices: Implications for Long-Term Investors

    NARCIS (Netherlands)

    Spierdijk, L.; Bikker, J.A.

    2012-01-01

    This paper discusses the implications of mean reversion in stock prices for longterm investors such as pension funds. We start with a general definition of a meanreverting price process and explain how mean reversion in stock prices is related to mean reversion in stock returns. Subsequently, we

  13. A study on the asymmetry of the news aspect of the stock market: Evidence from three institutional investors in the Taiwan stock market

    Directory of Open Access Journals (Sweden)

    Yang Tzu-Yi

    2015-01-01

    Full Text Available This paper uses daily data to investigate the behavior of institutional investors in Taiwan’s stock market. We adopted TGARCH and EGARCH models to test various news. We found that, for the entire sample, a significant clustering phenomenon exists in the investment behavior of three institutional investors, and the impact due to a change of news content shows significant asymmetry and leverage effects. That is, the impact of bad news from the market is stronger than that of good news. In addition, an asymmetric phenomenon can also be seen for the international news aspect as responded to by foreign institutional investors. This phenomenon is more significant than those of the dealers and institutional trust investors. Moreover, the asymmetric phenomenon as responded to by the dealers for domestic news is more significant than those of foreign investors and institutional trust investors.

  14. THE GREGARIOUS BEHAVIOR OF INVESTORS FROM BALTIC STOCK MARKETS

    Directory of Open Access Journals (Sweden)

    Pece Andreea Maria

    2015-07-01

    Full Text Available The main objective of this research is to investigate market participants’ gregarious behaviour in Baltic stock markets, namely Lithuania, Latvia and Estonia during the period January 2003-December 2013. The herding behaviour derives from the investors’ irrationality, who trade financial assets based on their positive expectations about prices future growth, generating manias among other market participants, thus ignoring the real return rates and the risk levels of their investments.The investors’ irrational behaviour is influenced by actions, feelings and impulses that are intertwined: mimicry, fear, trust, greed, optimism, pessimism, euphoria, panic. These features highlight an erroneous perception of investors in point of unsustained increase in prices, which has been generated by the stock prices deviations from their fundamental value.Under these premises, optimism, overreaction and speculative bubbles are appearing on the market and may constitute triggering factors of a financial crash.The probability of the occurrence of the speculative bubbles and financial crashes is influenced by the continuous entry on the market of new investors and less informed participants, which often act based on impulse, following a benchmark, without considering their own analysis and information that they hold. The existence of a “collective behaviour” of the investors, which is manifested by their tendency to imitate other market participants actions and to “follow the herd”, so ignoring their own beliefs, may increase market sensitivity to shocks and the probability of the occurrence of the systemic risk.In order to identify the investors’ herding behaviour, I have applied an adjusted CSSD model proposed by (Yao, Ma, Peng He, 2014, which implies the inclusion of two additional variables, the first one, to reduce the effect of multicollinearity and a second one, a lag term of the dependent variable, in order to improve the power of the

  15. LLW Forum meeting report, October 26--27, 1994

    International Nuclear Information System (INIS)

    1994-01-01

    The Low-Level Radioactive Waste Forum (LLW Forum) is an association of state and compact representatives, appointed by governors and compact commissions, established to facilitate state and compact implementation of the Low-Level Radioactive Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The LLW Forum provides an opportunity for state and compact officials to share information with one another and to exchange views with officials of federal agencies and other interested parties. This report details activities of the meeting held October 26-27, 1994

  16. LLW Forum meeting report, October 26--27, 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1994-12-31

    The Low-Level Radioactive Waste Forum (LLW Forum) is an association of state and compact representatives, appointed by governors and compact commissions, established to facilitate state and compact implementation of the Low-Level Radioactive Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The LLW Forum provides an opportunity for state and compact officials to share information with one another and to exchange views with officials of federal agencies and other interested parties. This report details activities of the meeting held October 26-27, 1994.

  17. LLW Forum meeting report, February 13--16, 1996

    International Nuclear Information System (INIS)

    1996-01-01

    The Low-Level Radioactive Waste Forum (LLW Forum) is an association of state and compact representatives, appointed by governors and compact commissions, established to facilitate state and compact implementation of the Low-Level Radioactive Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The LLW forum provides an opportunity for state and compact officials to share information with one another and to exchange views with officials of federal agencies and other interested parties. This report details activities at the meeting held February 13-16, 1996

  18. Virtual voices: social support and stigma in postnatal mental illness Internet forums.

    Science.gov (United States)

    Moore, Donna; Ayers, Susan

    2017-06-01

    Many women with postnatal mental illness do not get the treatment they need and this is often because stigma prevents disclosure. The purpose of this study was to explore online social support for postnatal mental illness, how women experience stigma and potential disadvantages of using Internet forums. Interviews were conducted with fifteen participants who had suffered postnatal mental illness and had used forums. Systematic thematic analysis identified common themes in relation to social support, stigma and disadvantages of using forums. Most women felt they benefited from visiting forums by developing a shared understanding and discourse about their illness. Findings suggest future research should investigate if women benefit from using online social support provided by forums, if use challenges stigma and further explore potential concerns about using forums.

  19. Investor's and procurement guide South Africa. Pt. 1. Heavy minerals, rare earth elements, antimony

    International Nuclear Information System (INIS)

    Graupner, Torsten; Schwarz-Schampera, Ulrich; Hammond, Napoleon Q.; Opperman, Rehan; Long'a Tongu, Elisa; Kenan, Abdul O.; Nondula, Unathi; Tsanwani, Matamba

    2014-01-01

    This is the first part of the ''Investor's and Procurement Guide South Africa'', a handbook for investing and doing business in South Africa's mineral industry. It is anticipated that this publication will aid potential investors into considering South Africa as an investment destination, not only for raw materials, but also for related industries. This manual supplements the many publications available on the economic geology and mineral wealth in South Africa and has been designed to guide prospective and current investors, suppliers and mine equipment exporters through the process of doing business in Africa's biggest and dynamic economy. As well as detailing the mineral raw materials heavy minerals, rare-earth metals and antimony, the handbook provides a general introduction to South Africa and its infrastructure, the economical, political and judicial frame of the South African mining industry and an overview of the economic geology. South Africa has a long and complex geological history which dates back in excess of 3.6 billion years. The country has a vast mineral wealth, undoubtedly due to the fact that a significant proportion of the Archaean and younger rocks have been preserved. The mining of the enormous Witwatersrand gold deposits, commencing in 1886, has led to the establishment of South Africa's well-developed infrastructure and to the sustained growth of an industrial and service sector in the country. With the world's largest resources of PGMs, gold, chromite, vanadium and manganese and significant resources of iron, coal and numerous other minerals and metals, the minerals industry will continue to play a pivotal role in the growth of South Africa's economy in the foreseeable future. South Africa is one of the top destinations in Africa for foreign direct investments. South African headquartered companies have been major investors into foreign direct investments on the African continent in the past decade. Investing in South African companies

  20. SENSITIVITY OF THE INVESTOR'S TOWARDS STOCK MARKET INVESTMENT

    OpenAIRE

    M. Jaya

    2017-01-01

    Investment in stock market has become a common phenomenon for all the individuals. The growth of stock market contributes to national economic growth only when this growth translates into increased mobilization of resources, return from investment, and minimizing the risk attached to stock market investment. This survey has been conducted to find out the stock market investment pattern and risk diversification of retail equity investors. A well structured questionnaire which is pilot teste...

  1. Investment barriers and incentives for marine renewable energy in the UK: An analysis of investor preferences

    International Nuclear Information System (INIS)

    Leete, Simeon; Xu, Jingjing; Wheeler, David

    2013-01-01

    Deployment of marine renewable energy (MRE) in the UK is desirable in order to address climate change, meet mandatory EU renewable energy targets and provide significant economic development opportunities, including new export markets. Public funding constraints in the UK mean that substantial investment is required from the private sector to commercialize the industry. By focussing on investor attitudes and behaviours towards wave and tidal technologies, this paper reveals significant observations from the investment community with serious implications for the future of the MRE industry. Through a series of in-depth interviews with individuals from the investment community, device developers and industry support, the research seeks to identify common barriers and incentives to investment. The paper demonstrates that although investors' attitudes are generally aligned, they do appear to have changed over time. Of the participants that had previously invested in early stage MRE device development, none were likely to do so again. It is concluded that this is a function of investors' greater understanding of the scale, and unpredictability of the costs, and the length of time required to develop these technologies. This presents a significant policy challenge for all actors interested in the commercialization of wave and tidal technologies. - Highlights: • Performed a series of in-depth interviews with senior finance and industry actors. • Examined investor attitudes and policy preferences that may encourage investment. • VC investors are currently disinclined to invest in early stage device development. • Policy instability, level of capital and revenue support are key investment barriers. • Commercialization requires strategic government and industrial partner investment

  2. THE IMPACT OF RELIGIOUSITY TO PREFERENCES OF MUSLIM ‘S INVESTOR IN CAPITAL MARKET

    Directory of Open Access Journals (Sweden)

    Rinda Asytuti

    2017-02-01

    Full Text Available The current study aims at knowing know how far a religiosity affects a person’s behavior in the capital market. This qualitative research uses the religiosity theory constructed by Glork and Start . These results from the interview to 3 investors as the subjects of the research shows that the religiosity of Muslim investors in Pekalongan is not automatically guarantee their invesment behaviors. This research support the previous research conclusion that religiousity not automaticaly conducted muslim investment behavior in banking and finance. On the other hand there are some research have different conclusion.

  3. CEO compensation, family control, and institutional investors in Continental Europe

    NARCIS (Netherlands)

    Croci, Ettore; Gonenc, Halit; Ozkan, Neslihan

    2012-01-01

    This paper investigates the impact of family control and institutional investors on CEO pay packages in Continental Europe, using a dataset of 754 listed firms with 3731 firm-year observations from 14 countries during 2001-2008. We find that family control curbs the level of CEO total and cash

  4. KEBUTUHAN INVESTOR TERHADAP INFORMASI KINERJA PEMERINTAH DAERAH KABUPATEN BANYUMAS DALAM PENGAMBILAN KEPUTUSAN INVESTASI

    Directory of Open Access Journals (Sweden)

    Oman Rusmana

    2017-04-01

    Full Text Available This study is a research used mixed methods that focused to combine two approaches, quantitative and qualitative on user of Local Government Finance Report (LKPD in Banyumas Regency. The purpose of this study were determine the needs of investors, investor information that used in LKPD, relationship between respondents and their description of reading LKPD, suitability of infrastructure information in LKPD to user needs, and the factors that affect the infrastructure reporting in LKPD. Based of research and data analysis using Chi Square test (Fisher's Exact, descriptive statistics methods and qualitative analysis show that: (1 The need for investors to invest in Banyumas is a good investment climate, (2 The information used by investors in the LKPD Banyumas in making investment decisions are government policy, evaluation of services, information infrastructure, and information regarding the BPK audit opinion LKPD, (3 There is a relationship between readers / non-readers LKPD and the category of respondents, (4 There is a relationship between respondents by reason of reading LKPD, (5 There is the relationship between the importance of infrastructure information and respondents of readers LKPD, (6 There was no relationship between the time required to read LKPD and the importance of information infrastructure, (7 Disclosure aspects of financial infrastructure in the LKPD Banyumas Regency is not appropriate with the needs of users, (8 Disclosure aspects of non-financial infrastructure in Banyumas LKPD is not fully appropriate with the needs of users (9 Factors that affecting disclosure of infrastructure in LKPD of Banyumas Regency are: council recommendation, Government Accounting Standards, recommendation of Badan Pemeriksa Keuangan and local government policy

  5. 77 FR 76356 - Disclosure to Investors in System-wide and Consolidated Bank Debt Obligations of the Farm Credit...

    Science.gov (United States)

    2012-12-28

    ... FARM CREDIT ADMINISTRATION 12 CFR Part 630 RIN 3052-AC77 Disclosure to Investors in System-wide and Consolidated Bank Debt Obligations of the Farm Credit System; System Audit Committee; Effective... Corporation System Audit Committee and the Farm Credit System annual report to investors. In accordance with...

  6. NASA-HBCU Space Science and Engineering Research Forum Proceedings

    International Nuclear Information System (INIS)

    Sanders, Y.D.; Freeman, Y.B.; George, M.C.

    1989-01-01

    The proceedings of the Historically Black Colleges and Universities (HBCU) forum are presented. A wide range of research topics from plant science to space science and related academic areas was covered. The sessions were divided into the following subject areas: Life science; Mathematical modeling, image processing, pattern recognition, and algorithms; Microgravity processing, space utilization and application; Physical science and chemistry; Research and training programs; Space science (astronomy, planetary science, asteroids, moon); Space technology (engineering, structures and systems for application in space); Space technology (physics of materials and systems for space applications); and Technology (materials, techniques, measurements)

  7. STAIF96: space technology and applications international forum. Proceedings

    International Nuclear Information System (INIS)

    El-Genk, M.S.

    1996-01-01

    These proceedings represent papers presented at the Space Technology and Applications International Forum-STAIF. STAIF-96 hosted four technical conferences sharing the common interest in space exploration, technology, and commercialization. Topics discussed include space station, space transportation, materials processing in space, commercial forum, space power, commercial space ports, microelectronics, automation of robotics-space application, remote sensing, small business innovative research and communications. There were 243 papers presented at the forum, and 138 have been abstracted for the Energy Science and Technology database. STAIF-96 was partly sponsored by the U.S. Department of Energy

  8. Proceedings of the 2008 air issues forum

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-07-01

    This forum focused on air related issues of concern to the oil and gas industry, regulators, researchers and the public. It included technological advances, new research projects, case studies, demonstrations, and updates to environmental regulations. Both the provincial and federal governments have recently announced new and significant reduction targets for air emissions that will have impacts on upstream oil and gas (UOG) companies. This forum reviewed what has been proposed and why and outlined the potential implications for producers. New regulatory processes and their requirements were also discussed along with ongoing industry sponsored air related research and emerging air related issues such as soot formation during flaring, sour gas flare combustion simulation modelling and fugitive emissions reduction. Ten presentations were featured at this forum, of which 3 have been catalogued separately for inclusion in this database. tabs. figs.

  9. Proceedings of the 2008 air issues forum

    International Nuclear Information System (INIS)

    2008-01-01

    This forum focused on air related issues of concern to the oil and gas industry, regulators, researchers and the public. It included technological advances, new research projects, case studies, demonstrations, and updates to environmental regulations. Both the provincial and federal governments have recently announced new and significant reduction targets for air emissions that will have impacts on upstream oil and gas (UOG) companies. This forum reviewed what has been proposed and why and outlined the potential implications for producers. New regulatory processes and their requirements were also discussed along with ongoing industry sponsored air related research and emerging air related issues such as soot formation during flaring, sour gas flare combustion simulation modelling and fugitive emissions reduction. Ten presentations were featured at this forum, of which 3 have been catalogued separately for inclusion in this database. tabs. figs

  10. Investor Reaction to Market Surprises on the Istanbul Stock Exchange Investor Reaction to Market Surprises on the Istanbul Stock Exchange = İstanbul Menkul Kıymetler Borsasında Piyasa Sürprizlerine Yatırımcı Tepkisi

    Directory of Open Access Journals (Sweden)

    Yaman Ömer ERZURUMLU

    2011-08-01

    Full Text Available This paper examines the reaction of investors to the arrival of unexpected information on the Istanbul Stock Exchange. The empirical results suggest that the investor reaction following unexpected news on the ISE100 is consistent with Overreaction Hypothesis especially after unfavorable market surprises. Interestingly such pattern does not exist for ISE30 index which includes more liquid and informationally efficient securities. A possible implication of this study for investors is that employing a semi contrarian investment strategy of buying losers in ISE100 may generate superior returns. Moreover, results are supportive of the last regulation change of Capital Market Board of Turkey which mandates more disclosure regarding the trading of less liquid stocks with lower market capitalization.

  11. LLW Forum meeting report, April 18--19, 1991

    International Nuclear Information System (INIS)

    1991-01-01

    The Low-Level Radioactive Waste Forum is an association of representatives of states and compacts established to facilitate state and compact commission implementation of the Low-Level Radioactive Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The Forum provides an opportunity for states and compacts to share information with one another and to exchange views with officials of federal agencies. LLW Forum participants include representatives from regional compacts, designated host states, unaffiliated states, and states with currently- operating low-level radioactive waste facilities. This quarterly meeting was held on April 18-19, 1991

  12. Members of the Forum Engelberg visit CERN

    CERN Multimedia

    Patrice Loïez

    2002-01-01

    The Forum Engelberg is an annual interdisciplinary conference held in Engelberg, Switzerland intended to act as an international platform for debate and exchange of views on key issues affecting scientific research, technology, economics and philosophy. Its President is Hubert Curien - former French Minister of Research and Space Research, and President of the CERN Council from 1994 to 1996. He is seen here (right) in discussion with Bernard Ecoffey, Founder of the Forum Engelberg.

  13. Nascent ventures competing for start-up capital: matching reputations and investors

    NARCIS (Netherlands)

    Ebbers, J.J.; Wijnberg, N.M.

    2012-01-01

    Although nascent ventures have not yet developed a performance-based reputation, the individual reputations of their founders, based on the performance of their earlier ventures, can function as important signals to investors. Selection system theory distinguishes between different types of

  14. A Portrait of Hedge Fund Investors: Flows, Performance and Smart Money

    NARCIS (Netherlands)

    G. Baquero; M.J.C.M. Verbeek (Marno)

    2005-01-01

    textabstractWe explore the flow-performance interrelation by explicitly separating the investment and divestment decisions of hedge fund investors. The results show that different determinants and evaluation horizons underlie both decisions. While money inflows are sensitive to past long-run

  15. Faktor-Faktor yang Mempengaruhi Investor Individu dalam Pengambilan Keputusan Investasi Sekuritas di Bursa Efek Indonesia (BEI)

    OpenAIRE

    Septyanto, Dihin

    2013-01-01

    The goal is to examine and obtain empirical evidence about the factors that affect the behavior of investors in securities investment decision in the Indonesia Stock Exchange using the benefits of financial information (information usefulness ). This study uses causality - explanatory . The study subjects were selected existing individual investors in the Indonesia Stock Exchange 135 respondents . This selection is determined to find out the benefits of financial information in investment , s...

  16. Investor decisions through the lens of behavioral economics

    Directory of Open Access Journals (Sweden)

    David S. Murphy

    2013-07-01

    Full Text Available Traditional economic theory postulates that people are rational. This implies that people make decisions to maximize their utility functions and to do this, that they have fully and correctly evaluated their preferences and limitations. Behavioral economics recognizes that this is not always true, that sometimes information is incomplete. This article is examines some of the effects of behavioral economics (which come largely from cognitive psychology in decision-making by investors in the stock exchanges.

  17. Investor Sentiment and Corporate Finance: Micro and Macro

    OpenAIRE

    Owen A. Lamont; Jeremy C. Stein

    2006-01-01

    We document that net equity issuance is considerably more sensitive to aggregate stock returns and Q's than to firm-level stock returns and Q's. Very similar patterns also emerge when we look at merger activity. In light of earlier work (Campbell 1991, Vuolteenaho 2002) which finds that aggregate stock returns are less informative about future cashflows than are firm-level stock returns--and thus, potentially more strongly influenced by investor sentiment--these results suggest that both equi...

  18. Degree and reciprocity of self-disclosure in online forums.

    Science.gov (United States)

    Barak, Azy; Gluck-Ofri, Orit

    2007-06-01

    Cyberspace has become a common social environment in which people interact and operate in many ways. The purpose of the present study was to investigate the occurrence and reciprocity of self-disclosure, two subjects that are extensively studied in face-to-face interactions but only to a limited degree in virtual, computer-mediated, textual communication. Data was based on 240 first messages in a thread, sampled in equal numbers from six Internet forums (three discussion and three support groups), and written in equal numbers by each gender, and 240 first responses to them (a total of 480 forum messages). Trained, expert judges blindly rated each message on the degree to which it disclosed personal information, thoughts, and feelings. Linguistic parameters (total number of words and number of first-voice words) were also used as dependent variables. Results showed the following: (a) self-disclosure in support forums was much higher than in discussion forums, in terms of both total number and type of disclosure; (b) messages in support forums were longer and included more first-voice words than in discussion forums; (c) there were no gender differences interacting with level of self-disclosure; (d) reciprocity of self-disclosure was evident, yielding positive correlations between the measures of self-disclosure in messages and responses to them; (e) some differences appeared in level of reciprocity of self-disclosure between male and female participants, with female respondents tending to be more reciprocal than male respondents. The implications of these results are discussed in light of growing social interactions online, and possible applications are suggested.

  19. Members of the Forum Engelberg visit CERN

    CERN Multimedia

    Patrice Loïez

    2002-01-01

    The Forum Engelberg is an annual interdisciplinary conference held in Engelberg, Switzerland intended to act as an international platform for debate and exchange of views on key issues affecting scientific research, technology, economics and philosophy. Its President is Hubert Curien - former French Minister of Research and Space Research, and President of the CERN Council from 1994 to 1996. He is pictured here (right) alongside CERN Director-General Prof. Luciano Maiani during the visit of Forum members to CERN.

  20. Equilibrium in Securities Markets with Heterogeneous Investors and Unspanned Income Risk

    DEFF Research Database (Denmark)

    Christensen, Peter Ove; Larsen, Kasper; Munk, Claus

    -free rate (and the expected stock return) is lower in the economy with unspanned income risk due to an increased demand for precautionary savings. The reduction in the risk-free rate is highest when the more risk-averse investors face the largest unspanned income risk. In numerical examples with reasonable......We provide the first closed-form solution for the equilibrium risk-free rate and the equilibrium stock price in a continuous-time economy with heterogeneous investor preferences and unspanned income risk. We show that lowering the fraction of income risk spanned by the market produces a lower...... equilibrium risk-free rate and a lower stock market Sharpe ratio, partly due to changes in the aggregate consumption dynamics. If we fix the aggregate consumption dynamics, the Sharpe ratio is the same as in an otherwise identical representative agent economy in which all risks are spanned, whereas the risk...

  1. 77 FR 15398 - Attentive Driving: Countermeasures for Distraction Forum

    Science.gov (United States)

    2012-03-15

    ... NATIONAL TRANSPORTATION SAFETY BOARD Attentive Driving: Countermeasures for Distraction Forum The National Transportation Safety Board (NTSB) will convene a forum, Attentive Driving: Countermeasures for... a period of 3 months from the date of the event. Distracted driving is a serious safety risk on our...

  2. Nuclear waste disposal educational forum

    International Nuclear Information System (INIS)

    1982-01-01

    In keeping with a mandate from the US Congress to provide opportunities for consumer education and information and to seek consumer input on national issues, the Department of Energy's Office of Consumer Affairs held a three-hour educational forum on the proposed nuclear waste disposal legislation. Nearly one hundred representatives of consumer, public interest, civic and environmental organizations were invited to attend. Consumer affairs professionals of utility companies across the country were also invited to attend the forum. The following six papers were presented: historical perspectives; status of legislation (Senate); status of legislation (House of Representatives); impact on the legislation on electric utilities; impact of the legislation on consumers; implementing the legislation. All six papers have been abstracted and indexed for the Energy Data Base

  3. Development of Trust in an Online Breast Cancer Forum: A Qualitative Study.

    Science.gov (United States)

    Lovatt, Melanie; Bath, Peter A; Ellis, Julie

    2017-05-23

    Online health forums provide peer support for a range of medical conditions including life-threatening and terminal illnesses. Trust is an important component of peer-to-peer support, although relatively little is known about how trust forms within online health forums. The aim of this paper is to examine how trust develops and influences sharing among users of an online breast cancer forum. An interpretive qualitative approach was adopted. Data were collected from forum posts from 135 threads on 9 boards on the UK charity, Breast Cancer Care (BCC). Semistructured interviews were conducted with 14 BCC forum users. Both datasets were analyzed thematically using Braun and Clarke's approach and combined to triangulate analysis. Trust operates in 3 dimensions, structural, relational, and temporal, and these intersect with each other and do not operate in isolation. The structural dimension relates to how the affordances and formal rules of the site affected trust. The relational dimension refers to how trust was necessarily experienced in interactions with other forum users: it emerged within relationships and was a social phenomenon. The temporal dimension relates to how trust changed over time and was influenced by the length of time users spent on the forum. Trust is a process that changes over time and which is influenced by structural features of the forum, as well as informal but collectively understood relational interactions among forum users. The study provides a better understanding of how the intersecting structural, relational, and temporal aspects that support the development of trust facilitate sharing in online environments. These findings will help organizations developing online health forums. ©Melanie Lovatt, Peter A Bath, Julie Ellis. Originally published in the Journal of Medical Internet Research (http://www.jmir.org), 23.05.2017.

  4. LLW Forum meeting report, April 25--27, 1994

    International Nuclear Information System (INIS)

    1994-01-01

    The Low-Level radioactive Waste Forum is an association of representatives of states and compacts established to facilitate state and compact commission implementation of the Low-Level Radioactive Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The Forum provides an opportunity for states and compacts to share information with one another and to exchange views with officials of federal agencies. LLW Forum participants include representatives from regional compacts, designated host states, unaffiliated states, and states with currently-operating low-level radioactive waste facilities. This quarterly meeting was held April 25-27, 1994 and activities during the first quarter of 1994 are detailed

  5. Analysis of user activities on popular medical forums

    Science.gov (United States)

    Kamalov, M. V.; Dobrynin, V. Y.; Balykina, Y. E.; Martynov, R. S.

    2017-10-01

    The paper is devoted to detailed investigation of users’ behavior and level of expertise on online medical forums. Two popular forums were analyzed in terms of presence of experts who answer health related questions and participate in discussions. This study provides insight into the quality of medical information that one can get from the web resources, and also illustrates relationship between approved medical experts and popular authors of the considered forums. During experiments several machine learning and natural language processing methods were evaluated against to available web content to get further understanding of structure and distribution of information about medicine available online nowadays. As a result of this study the hypothesis of existing correlation between approved medical experts and popular authors has been rejected.

  6. LLW Forum meeting report, April 25--27, 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1994-12-31

    The Low-Level radioactive Waste Forum is an association of representatives of states and compacts established to facilitate state and compact commission implementation of the Low-Level Radioactive Waste Policy Act of 1980 and the Low-Level Radioactive Waste Policy Amendments Act of 1985 and to promote the objectives of low-level radioactive waste regional compacts. The Forum provides an opportunity for states and compacts to share information with one another and to exchange views with officials of federal agencies. LLW Forum participants include representatives from regional compacts, designated host states, unaffiliated states, and states with currently-operating low-level radioactive waste facilities. This quarterly meeting was held April 25-27, 1994 and activities during the first quarter of 1994 are detailed..

  7. New ways of working with partners. Women's forum in Bangladesh.

    Science.gov (United States)

    1998-07-01

    In May 1997, Oxfam initiated an effort to help partner organizations in Bangladesh integrate gender issues into their management structures and programs. Oxfam's strategy involved inviting all 20 of its partners to send two women in management or staff positions to create a forum on gender. Oxfam kept the agenda open and included recreational activities. Within the first 24 hours, the group had produced an action plan and asked Oxfam to facilitate continuation of the forum. At first the women wanted Oxfam representatives to meet with their directors to discuss problems; after two meetings, the women only wanted Oxfam to witness the discussions and deflect objections about donor intent. Priority issues were maternity leave, equity with men in receiving resources for communication and transportation, and sexual harassment that occurred when directors extended the household roles of the women into the workplace. Lessons learned from this strategy are that 1) there is no quick fix, but this intervention is relatively inexpensive; 2) long-term support is needed; 3) involving middle managers is a concrete way to place gender issues on the agendas of partner organizations; and 4) a gender policy is important, but an action plan is even more important.

  8. The construction of optimal hedging portfolio strategies of an investor

    African Journals Online (AJOL)

    that can capture all the investor's investment in i, i = 1, 2, …, N investment company at time t, using stochastic differential equation for derivative pricing process. We will also describe the dynamic of our stock price using Binomial lattice model. We also intend to apply Hamilton-Jacobi-Bellman,(HJB) equation to derive the ...

  9. The effects of systemic crises when investors can be crisis ignorant

    NARCIS (Netherlands)

    H.J.W.G. Kole (Erik); C.G. Koedijk (Kees); M.J.C.M. Verbeek (Marno)

    2004-01-01

    textabstractSystemic crises can largely affect asset allocations due to the rapid deterioration of the risk-return trade-off. We investigate the effects of systemic crises, interpreted as global simultaneous shocks to financial markets, by introducing an investor adopting a crisis ignorant or crisis

  10. Do investors and entrepreneurs match? : Evidence from The Netherlands and Sweden

    NARCIS (Netherlands)

    Polzin, Friedemann|info:eu-repo/dai/nl/413317404; Sanders, Mark|info:eu-repo/dai/nl/175620059; Stavlöt, Ulrika

    Entrepreneurs and investors face challenges in the 'thin market' for early stage entrepreneurial finance. Improving this situation has been a priority of policy makers for at least a decade, however, the challenges in this matching process are still poorly understood. Theory suggests that matching

  11. Views on alternative forums for effectively tackling climate change

    Science.gov (United States)

    Hjerpe, Mattias; Nasiritousi, Naghmeh

    2015-09-01

    This year (2015) marks the 21st formal anniversary of the United Nations Framework Convention on Climate Change (UNFCCC) and in December a new climate treaty is expected to be reached. Yet, the UNFCCC has not been successful in setting the world on a path to meet a target to prevent temperatures rising by more than 2 °C above pre-industrial levels. Meanwhile, other forums, such as the G20 and subnational forums, have increasingly become sites of climate change initiatives. There has, however, so far been no systematic evaluation of what forums climate change policymakers and practitioners perceive to be needed to effectively tackle climate change. Drawing on survey data from two recent UNFCCC Conference of the Parties (COP), we show that there exists an overall preference for state-led, multilateral forums. However, preferences starkly diverge between respondents from different geographical regions and no clear alternative to the UNFCCC emerges. Our results highlight difficulties in coordinating global climate policy in a highly fragmented governance landscape.

  12. Resources for Creating Another World: Financial Strategies of the World Social Forum

    OpenAIRE

    Liliana Diaz

    2006-01-01

    Liliana Diaz analyzes the financial structure and strategy of the World Social Forum (WSF). Considering the importance of the ‘participative budget’ as an initiative promoted by the Forum, she looks at this as a strategy to finance the WSF, and as a model by other social movements. Diaz examines six different funding arrangements in each of the Forums looking at the consequences of the financing arrangements for the sustainability of the Forum process. Development (2006) 49, 93–101. doi:10.10...

  13. National Information Infrastructure Education Forum: A summary report

    Energy Technology Data Exchange (ETDEWEB)

    Tonn, B.E.; Oliver, C.E.

    1994-05-01

    The National Information Infrastructure (NII) Education Forum was held on October 6-8, 1993, in Arlington, Virginia. The Forum was sponsored by the Office of Scientific Computing, U.S. Department of Energy (DOE). Its purpose was to discuss technology for K-12 education and what role DOE and its national laboratories could play in developing, disseminating, and using technology for K-12. The Forum brought together over 120 people from across the nation. Participants represented six groups: national laboratories; education research institutions; K-12 teachers and administrators; industry; federal agencies; and other institutions. The Forum consisted of a series of structured presentations from each of these six groups; technology demonstrations; and open, small group discussions. The presentations covered the following: important K-12 education and computing issues, national laboratory capabilities, other federal sector initiatives, and industry perspectives. The demonstration room had over 20 computers networked to the Internet. Workshop participants were shown (1) how to use the Internet to access resources anywhere in the world, (2) state-of-the-art network video teleconferencing technology, (3) multi-media technology, and (4) various other educational software systems.

  14. The Formation of Rational and Irrational Behaviors in Risky Investment Decision Making: Laboratory Experiment of Coping Theory Implication in Investors' Adaptation Model

    OpenAIRE

    Wendy Wendy; Marwan Asri; Jogiyanto Hartono

    2012-01-01

    This study analyzes the stock investor's rational and irrational behavior formation through Investor's Adaptation model. Hypotheses testings were conducted by manipulating four market conditions using between-subject experimental design. The results supported the hypotheses proposed in this study. When given treatment one (opportunity-high control), investors tended to adapt the profit maximizing strategy (rational). Meanwhile, when given treatment two (opportunity-low control), three (threat-...

  15. Members of the Forum Engelberg visit CERN

    CERN Multimedia

    Patrice Loïez

    2002-01-01

    The Forum Engelberg is an annual interdisciplinary conference held in Engelberg, Switzerland intended to act as an international platform for debate and exchange of views on key issues affecting scientific research, technology, economics and philosophy. Its President is Hubert Curien - former French Minister of Research and Space Research, and President of the CERN Council from 1994 to 1996. Photo 01: Raymond Battistella - Director-General of SIG, Geneva's utilities provider (left) - and Bernard Ecoffey, Founder of the Forum Engelberg. In the background is the CMS magnet system under construction. The red concentric rings are part of the barrel yoke, which returns the magnetic flux generated by the superconducting coil. Supported from the innermost barrel ring is the outer cylinder of the vacuum tank that will house the superconducting coil. Photo 02: Alexander Höchli, member of the Institutional Committee of Forum Engelberg and former Landammann of the canton of Obwalden (left), with Raymond Battistella, Di...

  16. [Development and validation of a questionnaire about the main variables affecting the individual investor's behavior in the Stock Exchange].

    Science.gov (United States)

    Pascual-Ezama, David; San Martín Castellanos, Rafael; Gil-Gómez de Liaño, Beatriz; Scandroglio, Bárbara

    2010-11-01

    Development and validation of a questionnaire about the main variables affecting the individual investor's behavior in the Stock Exchange. There is a considerable lack of information about the methodology usually used in most of the studies about individual investor's behavior. The studies reviewed do not show the method used in the selection of the items or the psychometric properties of the questionnaires. Because of the importance of investment in the Stock Exchange nowadays, it seems relevant to obtain a reliable instrument to understand individual investor's behavior in the Stock Exchange. Therefore, the goal of the present work is to validate a questionnaire about the main variables involved in individual investors' behavior in the Stock Exchange. Based on previous studies, we elaborated a questionnaire using the Delphi methodology with a group of experts. The internal consistency (Cronbach alpha=.934) and validity evidence of the questionnaire show that it may be an effective instrument and can be applied with some assurance.

  17. Regulatory environment and its impact on the market value of investor-owned electric utilities

    Science.gov (United States)

    Vishwanathan, Raman

    While other regulated industries have one by one been exposed to competitive reform, electric power, for over eighty years, has remained a great monopoly. For all those years, the vertically integrated suppliers of electricity in the United States have been assigned exclusive territorial (consumer) franchises and have been closely regulated. This environment is in the process change because the electric power industry is currently undergoing some dramatic adjustments. Since 1992, a number of states have initiated regulatory reform and are moving to allow retail customers to choose their energy supplier. There has also been a considerable federal government role in encouraging competition in the generation and transmission of electricity. The objective of this research is to investigate the reaction of investors to the prevailing regulatory environment in the electric utility industry by analyzing the market-to-book value for investor-owned electric utilities in the United States as a gauge of investor concern or support for change. In this study, the variable of interest is the market valuation of utilities, as it captures investor confidence to changes in the regulatory environment. Initially a classic regression model is analyzed on the full sample (of the 96 investor-owned utilities for the years 1992 through 1996), providing a total number of 480 (96 firms over 5 years) observations. Later fixed- and random-effects models are analyzed for the same full-sample model specified in the previous analysis. Also, the analysis is carried forward to examine the impact of the size of the utility and its degree of reliability on nuclear power generation on market values. In the period of this study, 1992--1996, the financial security markets downgraded utilities that were still operating in a regulated environment or had a substantial percentage of their power generation from nuclear power plants. It was also found that the financial market was sensitive to the size of

  18. Global Forum for Health Research 2008-2009 | IDRC - International ...

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

    Since its foundation in 1998, the Global Forum for Health Research (GFHR) has sought to focus greater attention and resources on research that will improve the health of the poor, marginalized and disadvantaged. The Forum has also become an authoritative and independent source of reliable data, practical tools and ...

  19. Forum on specification and Design Languages

    CERN Document Server

    Maehne, Torsten

    2015-01-01

    This book brings together a selection of the best papers from the sixteenth edition of the Forum on specification and Design Languages Conference (FDL), which was held in September 2013 in Paris, France. FDL is a well-established international forum devoted to dissemination of research results, practical experiences and new ideas in the application of specification, design and verification languages to the design, modeling and verification of integrated circuits, complex hardware/software embedded systems, and mixed-technology systems. • Covers applications of formal methods for specification, verification and debug; • Includes embedded analog and mixed-signal system design; • Enables model-driven engineering for embedded systems design and development.

  20. EUFOREA Rhinology Research Forum 2016

    DEFF Research Database (Denmark)

    Hellings, P W; Akdis, C A; Bachert, C

    2017-01-01

    The first European Rhinology Research Forum organized by the European Forum for Research and Education in Allergy and Airway Diseases (EUFOREA) was held in the Royal Academy of Medicine in Brussels on 17th and 18th November 2016, in collaboration with the European Rhinologic Society (ERS......) and the Global Allergy and Asthma European Network (GA2LEN). One hundred and thirty participants (medical doctors from different specialties, researchers, as well as patients and industry representatives) from 27 countries took part in the multiple perspective discussions including brainstorming sessions on care...... pathways and research needs in rhinitis and rhinosinusitis. The debates started with an overview of the current state of the art, including weaknesses and strengths of the current practices, followed by the identification of essential research needs, thoroughly integrated in the context of Precision...

  1. Measures for protection of the environment and the breach of a foreign investor's rights

    Directory of Open Access Journals (Sweden)

    Đundić Petar

    2011-01-01

    Full Text Available The paper analyses the relationship between state measures aimed at protecting the environment and the so-called regulative expropriation of investment. Protection of the environment has established itself as a legitimate regulative purpose in legal doctrine and in a number of sources of international foreign investment law. In the analytical framework of police powers doctrine it would suggest that state measures taken for environmental reasons, even if they are harmful for the economic interests of foreign investor, cannot be considered regulative expropriation. However, arbitral practice shows more restrictive approach towards regulative freedom of states in this area. The right of state to regulate without imposition of a duty to compensate a foreign investor for his loss is not unconditionally accepted. The regulative measure must be taken in good faith, i.e. with the true purpose of protecting the environment and nondiscriminatory in its character. Furthermore, there is a tendency in arbitral practice that the legitimate regulative purpose of state measure is weighed against other factors such as legitimate expectations of a foreign investor and the level of his economic loss in order to determine whether the expropriation has occurred.

  2. Members of the Forum Engelberg visit CERN

    CERN Multimedia

    Patrice Loïez

    2002-01-01

    The Forum Engelberg is an annual interdisciplinary conference held in Engelberg, Switzerland intended to act as an international platform for debate and exchange of views on key issues affecting scientific research, technology, economics and philosophy. Its President is Hubert Curien - former French Minister of Research and Space Research, and President of the CERN Council from 1994 to 1996. Horst Wenninger (left) in animated discussion with Alexander Höchli, member of the Institutional Committee of Forum Engelberg and former Landammann of the canton of Obwalden.

  3. Rates of Return on Flow-Through Shares: Investors and Governments Beware

    Directory of Open Access Journals (Sweden)

    Vijay Jog

    2016-02-01

    Full Text Available Canada’s tax code allows the use of flow-through shares for mining and oil and gas companies on the assumption that they are a good way to spur new productive exploration and are also beneficial to investors. In reality, it appears that flow-through shares are lousy for both. Flow-through shares are designed for corporations that cannot make good use of expense deductions from their taxes and so, through the use of these special type of shares, can pass along their expenses for shareholders to deduct from their own income taxes. This tax break is not insignificant: The amount of revenue foregone by the federal government due to flow-through shares and the related Mineral Exploration Tax Credit averaged $440 million every year between 2007 and 2012. But the steepest price has arguably been borne by investors, with returns on flow-through shares performing extraordinarily poorly. For small companies that issued these shares, the annualized absolute return was a nearly 100 per cent loss. For larger companies, the returns were not as bad — negative 14 per cent — but still a loss. And if adjusted for corresponding benchmarks, the returns were even worse. From the $2.5 billion raised from Canadians using flow-through shares, investors have lost $1.2 billion. Certainly these results would indicate that flow-through shares are hardly helping Canadian explorers strike lucrative new discoveries (it is impossible to say whether the limited success some larger companies had in locating productive assets, using flow-through shares, would not have occurred anyway. Meanwhile, these share issues, bearing the imprimatur of a special government right and the incentive of an investor tax benefit, have likely led to market distortions, luring capital that might have otherwise gone to more productive and rewarding investments. Compounding matters is the very real possibility that those projects that were funded by flow-through shares, but would have been

  4. Investors' perspective and needs in the process of developing a business plan

    Directory of Open Access Journals (Sweden)

    Stankov Biljana

    2015-01-01

    Full Text Available A business plan is a very important written document about the current state and future intentions of the company and it meets the information and other needs of a wide range of users, regardless of the size of the company and its organizational structure, or belonging to particular economic activity; regardless of the stage of the life cycle in which the company is located and the like . A business plan is written by the existing, established companies for different needs as well as by startup companies that are eager to show the profitability of the business venture and the success of business ideas realization. The business plan often stands out as a means to establish initial communication between entrepreneurs and financing sources, as well as for their initial meeting. The research problem relates to highlighting the business plan as a very powerful means in the hands of entrepreneurs in applying for obtaining the necessary financial resources. The subject of the research includes the analysis of the differences between the many users of a business plan with an emphasis on commercial banks, investment funds and private investors, as financiers of the business venture and the most important users. The aim of the research relates to highlighting the needs of investors and appreciation of their perspectives in the process of developing a business plan, because without a quality business plan investor is at risk of unsafe moving through a very uncertain and changing environment.

  5. An Empirical Study on the Relationship between Investor Protection, Government Behavior, and Financial Development

    Directory of Open Access Journals (Sweden)

    Chien-Chi Chu

    2017-11-01

    Full Text Available We studied the relationship between investor protection, government behavior, and financial development using data covering six provinces (Guangdong, Jiangsu, Shandong, Zhejiang, Henan, and Sichuan and two provincial-level cities (Beijing and Shanghai in China for the period 2005–2014. Using panel data estimation techniques, we found that there is a positive relationship between investor protection and financial development; by contrast, highly-intense government intervention leads to more financial impediments. Moreover, government intervention in education could promote financial development through its contribution to having a higher amount of the fund supply. Our empirical findings have important implications for policy-makers in terms of reforming the capital market regulation.

  6. Forum Guide to Education Data Privacy. NFES 2016-096

    Science.gov (United States)

    National Forum on Education Statistics, 2016

    2016-01-01

    The National Forum on Education Statistics (Forum) organized the Education Data Privacy Working Group to explore how state and local education agencies (SEAs and LEAs) can support best practices at the school level to protect the confidentiality of student data in day-to-day instructional and administrative tasks. Many of the best practices…

  7. California Geothermal Forum: A Path to Increasing Geothermal Development in California

    Energy Technology Data Exchange (ETDEWEB)

    Young, Katherine R. [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2017-01-01

    The genesis of this report was a 2016 forum in Sacramento, California, titled 'California Geothermal Forum: A Path to Increasing Geothermal Development in California.' The forum was held at the California Energy Commission's (CEC) headquarters in Sacramento, California with the primary goal being to advance the dialogues for the U.S. Department of Energy's Geothermal Technologies Office (GTO) and CEC technical research and development (R&D) focuses for future consideration. The forum convened a diverse group of stakeholders from government, industry, and research to lay out pathways for new geothermal development in California while remaining consistent with critical Federal and State conservation planning efforts, particularly at the Salton Sea.

  8. Older people’s forums in the United Kingdom:Civic engagement and activism reviewed

    OpenAIRE

    Manthorpe, Jill; Harris, Jessica; Mauger, Sam

    2016-01-01

    PurposeThis paper reviews the literature on UK older people’s forums. Forums seek to influence statutory responses to ageing, and enable older people to speak up on matters important to them. The review examined three facets of forums: their membership, structures and effectiveness.MethodsMethods included searching databases, internet and specialist libraries for materials relating to older people’s forums. Key points were extracted and source material described but not subject to quality app...

  9. Bridging Divides for Water? Dialogue and Access at the 5th World Water Forum

    Directory of Open Access Journals (Sweden)

    Nícola Ulibarrí

    2011-10-01

    Full Text Available The 5th World Water Forum was officially presented as a deliberative democracy where diverse stakeholders could gather to talk about water. However, the conference was marred by significant conflict, ranging from audience complaints to protests, and to alternative political declarations. This paper explores why a Forum designed to 'Bridge Divides for Water' (the official theme was so contentious that participants were unable to reach any sort of consensus. I explore four hypothesised mechanisms by which the Forum itself counteracted the possibility of Bridging Divides and creating constructive dialogue. First, I argue that, because of cost, security and size, the Forum made many participants feel unable to fully access the Forum and share their opinions. Second, I suggest that the programmatic structure of the Forum promoted simplified ways of talking about water that made translation between perspectives difficult. Third, I contend that the physical space where Forum deliberations occurred institutionalised unequal social arrangements, making certain viewpoints more audible than others. Fourth, I demonstrate that the Turkish host government actively masked contestation to present a 'civilised' Forum to the world.

  10. Bank Loan Loss Provisions, Investor Protection and the Macroeconomy

    OpenAIRE

    Ozili, Peterson K

    2017-01-01

    This study investigates the non-discretionary determinants of bank loan loss provisions in Africa after controlling for macroeconomic fluctuation, financial development and investor protection. We find that non-performing loans, loan-to-asset ratio and loan growth are significant non-discretionary drivers of bank provisions in the African region. We observe that bank provision is a positive function of non-performing loans up to a threshold beyond which bank provisions will no longer increase...

  11. China Textile Round Table Forum Fabrics:International Trend and Marketing

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    On April 8,2007,China Textile Round Table Forum: Profesional Market Forum (Guangzhou 2007) was held in China Fabrics & Accessories Center.Representatives from many countries and regions,leaderships from Chinese textile and garment industry,as well as experts and corporated

  12. Morocco calls for investors; Le Maroc en appelle aux investisseurs

    Energy Technology Data Exchange (ETDEWEB)

    Rigaud, Ch.

    2011-03-15

    Morocco imported more than 96% of its energy between 2002 and 2009. Moreover the economic and social development of the country requires important energy needs that will grow by 5% a year. The Morocco government has launched an ambitious plan for developing renewable energies that aims at trebling its today's production of electricity by 2020. 2000 MW of solar energy will be installed on 5 sites and at least 2000 MW of wind energy will also be installed. Morocco's potential for wind energy is assessed to reach 25000 MW. The investment for the solar program will reach 6.5*10{sup 9} euros. The aim of the energy policy is also to create jobs and develop local skills for manufacturing components of wind turbines and solar panels. The idea is that investors produce in Morocco for the local energy market and for export to African countries. Exports of renewable energy toward Europe will also be possible as Morocco is the only Arab country to be connected on the European frequency. A third submarine power cable between Morocco and Europe is being installed. (A.C.)

  13. Forum Engelberg 2004 to be launched in Bern on 13 November

    CERN Multimedia

    2003-01-01

    "Former French science minister Hubert Curien will be among major figures from European politics and science meeting in Bern on 13 November to launch the Forum Engelberg 2004.... Forum Engelberg provides a valuable platform for science and a forum for scientists and politicians to meet. The topic of its 2004 conference, to be held in Lucerne from 1 to 4 March 2004, is "Science on the Agenda of European Politics" (1 page).

  14. Enforceability of institutional investors responsibilities in corporate governance through the Dutch Corporate Governance Code : Are regulators and practitioners on the same page (and to who are institutional investors accountable)?

    NARCIS (Netherlands)

    Melis, D.A.M.; Paape, L.; Lückerath – Rovers, M.

    2011-01-01

    Corporate governance codes have been drafted to guide listed companies to improve corporate governance. Shareholders, in particular institutional investors, are being asked to play a critical role in safeguarding good corporate governance. However, addressing shareholders of Dutch listed companies

  15. La question de l’efficacité des forums virtuels sur la réussite How effective are virtual forums on succes?

    Directory of Open Access Journals (Sweden)

    Sandoss Ben Abid Zarrouk

    2011-12-01

    Full Text Available L’objet de cet article est de tenter de donner une estimation de l’efficacité, en termes de réussite, des forums d’échanges virtuels. C’est à partir de l’étude d’une plateforme de formation d’enseignement en ligne qui permet la préparation au Diplôme d’Accès aux Études Universitaires (DAEU de l’université de Haute Alsace, que nous apportons des éléments de réponses. Les résultats montrent que les étudiants qui utilisent les forums d’échanges afin d’envoyer des messages ont des taux de réussite plus élevés comparativement à ceux qui n’envoient pas de messages.The aim of this paper is to provide an estimation of the effectiveness of Web forums used for online learning. The study of the online learning platform that enables adult students to prepare the DAEU (diploma granting access to university or equivalent at the university of Haute Alsace, provides us with information about this. The results of this research show that students who use discussion forums to post messages have higher success rates than those who do not.

  16. THE ENVIRONMENTAL COMMUNICATION FORUM

    African Journals Online (AJOL)

    could enable the more effective communication of envi:onmental issues, not forgetting the importance ... headquarters, when she explained the psychology used to try to persuade people to care for their environ- ment. ... offering a facility if those to whom it is offered are unaware of its existence, or of its value. This the forum ...

  17. 2012 National Leadership Forum

    Science.gov (United States)

    Magnuson, Peter

    2012-01-01

    Two key themes emerged from the 2012 National Leadership Forum: Taking Business to School, which was hosted by the Career and Technical Education Foundation at the end of May. The first was that employers are looking for a workforce that is technologically savvy while having leadership and employability skills. The second is that the business…

  18. The Cumbria Rural Health Forum: initiating change and moving forward with technology.

    Science.gov (United States)

    Ditchburn, Jae-Llane; Marshall, Alison

    2016-01-01

    The Cumbria Rural Health Forum was formed by a number of public, private and voluntary sector organisations to collaboratively work on rural health and social care in the county of Cumbria, England. The aim of the forum is to improve health and social care delivery for rural communities, and share practical ideas and evidence-based best practice that can be implemented in Cumbria. The forum currently consists of approximately 50 organisations interested in and responsible for delivery of health and social care in Cumbria. An exploration of digital technologies for health and care was recognised as an initial priority. This article describes a hands-on approach undertaken within the forum, including its current progress and development. The forum used a modified Delphi technique to facilitate its work on discussing ideas and reaching consensus to formulate the Cumbria Strategy for Digital Technologies in Health and Social Care. The group communication process took place over meetings and workshops held at various locations in the county. A roadmap for the implementation of digital technologies into health and social care was developed. The roadmap recommends the following: (i) to improve the health outcomes for targeted groups, within a unit, department or care pathway; (ii) to explain, clarify, share good (and bad) practice, assess impact and value through information sharing through conferences and events, influencing and advocacy for Cumbria; and (iii) to develop a digital-health-ready workforce where health and social care professionals can be supported to use digital technologies, and enhance recruitment and retention of staff. The forum experienced issues consistent with those in other Delphi studies, such as the repetition of ideas. Attendance was variable due to the unavailability of key people at times. Although the forum facilitated collective effort to address rural health issues, its power is limited to influencing and supporting implementation of change

  19. Shanghai housing reform. Program a burden on foreign investors.

    Science.gov (United States)

    Burke, F

    1991-09-23

    This document contains a summary of the Housing Reform Program created in Shanghai, China, in 1991, which requires monthly contributions of all employers and employees in Shanghai to a "Collective Reserve Fund." The program also applies to foreign investment enterprises and must be followed by all enterprises, regardless of any previous housing benefits that an enterprise may be providing its employees. Employers must deduct 5% from each employee's salary (with a minimum) monthly and must match that amount. The total is paid into an account in the employer's name with the People's Construction Bank of China. The total amount collected and matched for an employee is considered the property of the employee, but the account is administered by the employer as a collective trust account. Each employee's balance may be withdrawn upon retirement, leaving the area, or purchasing a home and leaving state-owned housing. Foreign investment enterprises contribute a reduced amount in recognition of the fact that they pay salaries that are higher than those of state enterprises. The Housing Reform Program also requires employers to contribute to doubled rent subsidies for public housing, requires workers to purchase housing construction bonds in order to be eligible for newly allocated public housing, calles for housing to be sold at favorable prices, and creates a system whereby mortgages can be obtained from the Collective Reserve Fund.

  20. Young physicists' forum

    International Nuclear Information System (INIS)

    Adams, T.

    2001-01-01

    The Young Physicists' Forum was an opportunity for the younger members of the particle-physics community to gather at Snowmass 2001 and to study and debate major issues that face the field over the next twenty years. Discussions were organized around three major topics: outreach and education, the impact of globalization, and building a robust and balanced field. We report on the results of these discussions, as presented on July 17, 2001

  1. Online discussion forums with embedded streamed videos on distance courses

    Directory of Open Access Journals (Sweden)

    Vicenc Fernandez

    2014-03-01

    Full Text Available Existing literature on education and technology has frequently highlighted the usefulness of online discussion forums for distance courses; however, the majority of such investigations have focused their attention only on text-based forums. The objective of this paper is to determine if the embedding of streamed videos in online discussion forums generates educational dialogue and consequently the feedback that students need in a Management Accounting Course. The findings suggest some interesting issues, such as: students prefer text answers except in complex questions, and videos never replace text commentaries and explanations, but rather complement them.

  2. Reflections on ?medical tourism? from the 2016 Global Healthcare Policy and Management Forum

    OpenAIRE

    Crooks, Valorie A.; Ormond, Meghann; Jin, Ki Nam

    2017-01-01

    In October 2016, the Global Healthcare Policy and Management Forum was held at Yonsei University, Seoul, South Korea. The goal of the forum was to discuss the role of the state in regulating and supporting the development of medical tourism. Forum attendees came from 10 countries. In this short report article, we identify key lessons from the forum that can inform the direction of future scholarly engagement with medical tourism. In so doing, we reference on-going scholarly debates about this...

  3. Competition, Regulation and Development Research Forum ...

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

    ... Forum : Competition and Regulatory Implementation Issues in Developing Countries ... create challenges that influence the operation of regulatory institutions. ... IWRA/IDRC webinar on climate change and adaptive water management.

  4. Mood and the market: can press reports of investors' mood predict stock prices?

    Science.gov (United States)

    Cohen-Charash, Yochi; Scherbaum, Charles A; Kammeyer-Mueller, John D; Staw, Barry M

    2013-01-01

    We examined whether press reports on the collective mood of investors can predict changes in stock prices. We collected data on the use of emotion words in newspaper reports on traders' affect, coded these emotion words according to their location on an affective circumplex in terms of pleasantness and activation level, and created indices of collective mood for each trading day. Then, by using time series analyses, we examined whether these mood indices, depicting investors' emotion on a given trading day, could predict the next day's opening price of the stock market. The strongest findings showed that activated pleasant mood predicted increases in NASDAQ prices, while activated unpleasant mood predicted decreases in NASDAQ prices. We conclude that both valence and activation levels of collective mood are important in predicting trend continuation in stock prices.

  5. Reflections on 'medical tourism' from the 2016 Global Healthcare Policy and Management Forum

    NARCIS (Netherlands)

    Crooks, V.A.; Ormond, M.E.; Jin, Ki Nam

    2017-01-01

    In October 2016, the Global Healthcare Policy and Management Forum was held at Yonsei University, Seoul, South Korea. The goal of the forum was to discuss the role of the state in regulating and supporting the development of medical tourism. Forum attendees came from 10 countries. In this short

  6. Low-level waste forum meeting reports

    International Nuclear Information System (INIS)

    1992-01-01

    This report provides highlights from the 1992 fall meeting of the Low LEvel Radioactive Waste Forum. Topics included: disposal options after 1992; interregional agreements; management alternatives; policy; and storage

  7. Risk-averse and Risk-seeking Investor Preferences for Oil Spot and Futures

    NARCIS (Netherlands)

    H.H. Lean (Hooi Hooi); M.J. McAleer (Michael); W.-K. Wong (Wing-Keung)

    2013-01-01

    textabstractThis paper examines risk-averse and risk-seeking investor preferences for oil spot and futures prices by using the mean-variance (MV) criterion and stochastic dominance (SD) approach. The MV findings cannot distinguish between the preferences of spot and futures markets. However, the SD

  8. Members of the Forum Engelberg visit CERN

    CERN Multimedia

    Patrice Loïez

    2002-01-01

    The Forum Engelberg is an annual interdisciplinary conference held in Engelberg, Switzerland intended to act as an international platform for debate and exchange of views on key issues affecting scientific research, technology, economics and philosophy. Photo 01: Members of the Forum Engelberg and public figures from Geneva visit SM18, the test hall for LHC magnets: (left to right) N. Siegel, Prof. Dr. Med. Bernard Mach, Mr Alexander Höchli, H. Wenninger, Mrs Mireille Quirina, Mme Konrade Von Bremen, Mrs Thérèse Wolf, Prof. Roger Berthouzoz, Mrs Marie-Anne Heimo, Mr Bernard Ecoffey.

  9. Major economies Forum on energy and climate

    International Nuclear Information System (INIS)

    2009-01-01

    The Major Economies Forum is intended to facilitate an open dialogue among major developed and developing economies, help generate the political leadership necessary to achieve a successful outcome at the United Nations climatic change conference in Copenhagen, and advance the exploration of concrete initiatives and joint ventures that increase the supply of clean energy while cutting greenhouse gas emissions. The Forum's second preparatory meeting was held in Paris in May 2009, mainly focused on greenhouse gas emissions reduction actions and objectives, the diffusion of clean technologies, the financing of activities for climate protection and adaptation to climatic change impacts

  10. Emotional isolation in BBC Forum

    International Nuclear Information System (INIS)

    Sienkiewicz, J; Chmiel, A

    2014-01-01

    We analyze emotionally annotated massive data from BBC Forum and examine properties of the isolation phenomenon of negative and positive users. Our results show the existence of a percolation threshold dependent on the average emotional value in the network of negatively charged nodes

  11. Agent-based Modeling Simulation Analysis on the Regulation of Institutional Investor's Encroachment Behavior in Stock Market

    Directory of Open Access Journals (Sweden)

    Yang Li

    2014-05-01

    Full Text Available Purpose: This study explores the effective regulation of institutional investor's encroachment behavior in stock market. Given the theoretical and practical importance, the present study examines the effect of the self-adaptive regulation strategy (adjusting the regulation factors such as punishment and the probability of investigating successfully in time for the sake of the small & medium-sized investor protection.Design/methodology/approach: This study was carried out through game theory and agent-based modeling simulation. Firstly, a dynamic game model was built to search the core factors of regulation and the equilibrium paths. Secondly, an agent-based modeling simulation model was built in Swarm to extend the game model. Finally, a simulation experiment (using virtual parameter values was performed to examine the effect of regulation strategy obtained form game model.Findings: The results of this study showed that the core factors of avoiding the institutional investor's encroachment behavior are the punishment and the probability of investigating successfully of the regulator. The core factors embody as the self-adaptability and the capability of regulator. If the regulator can adjust the regulation factors in time, the illegal behaviors will be avoided effectively.Research limitations/implications: The simulation experiment in this paper was performed with virtual parameter values. Although the results of experiment showed the effect of self-adaptive regulation, there are still some differences between simulation experiment and real market situation.Originality/value: The purpose of this study is to investigate an effective regulation strategy of institutional investor's encroachment behavior in stock market in order to maintain market order and protect the benefits of investors. Base on the game model and simulation model, a simulation experiment was preformed and the result showed that the self-adaptive regulation would be effective

  12. Understanding investors' decisions to purchase innovative products : Drivers of adoption timing and range

    NARCIS (Netherlands)

    Hoffmann, A.O.I.; Broekhuizen, T.L.J.

    2010-01-01

    This paper integrates findings from marketing and finance literature to increase our understanding of consumers' decisions to purchase innovative investment products. Two different surveys administered to individual investors examine the psychological and sociological drivers of dispositional

  13. 75 FR 5281 - Notice of Intent To Hold Public Forums To Solicit Feedback From the Public Regarding the Section...

    Science.gov (United States)

    2010-02-02

    ... public forums to solicit feedback from the public on whether the current method of delivering the self... Feedback From the Public Regarding the Section 523 Mutual Self-Help Housing Program AGENCY: Rural Housing... solicit feedback, recommendations, and comments from all sectors of the public. All information relative...

  14. Restructuring terminated. Rotor technology is lookingt for an investor.; Restrukturierung abgeschlossen. Rotortechnik sucht Investor

    Energy Technology Data Exchange (ETDEWEB)

    Anon.

    2006-07-01

    The NOI Group was declared insolvent in July 2004. Attorney-at-law Rolf Rombach of Erfurt was appointed as the administrator for NOI-Rotortechnik GmbH, Nordhausen. The other former production facilities of the NOI Group in Germany, Scotland and Spain are no longer active. More than 1,000 rotor blades have been mass-produced in Nordhausen since the company was founded in 1999. The site covers an area of 60,000 m{sup 2}, including around 8,500 m{sup 2} of production facilities. More than Euro 10 million in total has been invested in the production facilities. The management - consisting of Niels Ludwig, Juergen Simon and Carsten Zaremba - is now taking the business successfully forward together with the administrator. With its 80-strong workforce, Rotortechnik produces top-quality rotor blades in the multi-megawatt class for German and international customers. During the past 20 months all the work processes have been critically examined, reorganised and constantly optimised. Following complete restructuring, Rotortechnik GmbH in Nordhausen is now ready to make a high-level comeback together with an investor. (orig.)

  15. Practicing Multilingual Identities: Online Interactions in a Korean Dramas Forum

    Science.gov (United States)

    Kim, Grace MyHyun

    2016-01-01

    This article presents the language practices of global youth who populate an online discussion forum devoted to Korea-produced dramas. Qualitative data included the writing, visual images, and interactions created within the forum. Findings revealed youth from geographically disparate places using new media affordances to engage with a minority…

  16. How a moderated online discussion forum facilitates support for young people with eating disorders.

    Science.gov (United States)

    Kendal, Sarah; Kirk, Sue; Elvey, Rebecca; Catchpole, Roger; Pryjmachuk, Steven

    2017-02-01

    Young people with eating disorders are at risk of harm to their social, emotional and physical development and life chances. Although they can be reluctant to seek help, they may access social media for information, advice or support. The relationship between social media and youth well-being is an emotive subject, but not clearly understood. This qualitative study aimed to explore how young people used a youth-orientated, moderated, online, eating disorders discussion forum, run by an eating disorders charity. We applied a netnographic approach involving downloading and thematically analysing over 400 messages posted August-November 2012. Data analysis generated five themes: Taking on the role of mentor; the online discussion forum as a safe space; Friendship within the online forum; Flexible help; and Peer support for recovery and relapse prevention. Forum moderation may have influenced the forum culture. Our findings are consistent with literature about youth preferences for mental health self-care support. A young person's decision to use this discussion forum can be construed as pro-active self-care. A moderated online discussion forum can make a positive contribution to support for youth with eating disorders, countering negative media perceptions of online groups. This study adds to knowledge about how young people access support via social media. Online discussion forums can be safe and acceptable spaces for youth to access help. Further research could provide insights into the impact of forum moderation. © 2016 The Authors. Health Expectations Published by John Wiley & Sons Ltd.

  17. Peran Forum Pustakawan dalam Pengembangan Profesionalisme Pustakawan di Lingkungan Universitas Gadjah Mada

    Directory of Open Access Journals (Sweden)

    Desy Natalia Anggorowati

    2017-12-01

    Full Text Available This research discusses the role of Librarian Forum at UGM. The purpose of this paper is to examine  the role of Librarian Forum to develop professionalism and competence for librarians and to understand the inhibiting factors from librarians to actively involve themselves in the Forum. Using a descriptive qualitative approach, the data collection method was literature study and interviews. The result indicated that the role of Librarian Forum in the last 3 period: 2011-2013, 2013-2015 and 2015-2018 has been indicated important to support 4 competencies in SKKNI (Standar Kompetensi Kerja Nasional Indonesia. But of the 60 activities, the core competence of “conducting information literacy activities” showed  the highest. Challenges faced by the members to utilise the Librarian Forum as a professional development arena and competence was the schedule. Another challenges were that, the content of activities didnot match with what the members needed.

  18. Analysis of Superposters' Motives for Participating in Online Forum Discussions

    Directory of Open Access Journals (Sweden)

    Irena Miljković Krečar

    2017-12-01

    Full Text Available The main aim of this study was to identify factors which motivate daily participation of extremely active online forum members. An extensive online questionnaire was constructed and sent to the Forum.hr members with more than 8,000 posts. The final sample consisted of 112 respondents. Principal components analysis provided an interpretable three components solution, explaining 54.6% of the item variance. The components were labelled as self-esteem, information exchange, and confrontation. Some significant differences were also found among motivational subscales and variables of gender, age, and the intensity of forum activity. Results are discussed in relation to previous research.

  19. Advanced Technological Education (ATE) Program: Building a Pipeline of Skilled Workers. Policy Brief

    Science.gov (United States)

    American Youth Policy Forum, 2010

    2010-01-01

    In the Fall of 2008, the American Youth Policy Forum hosted a series of three Capitol Hill forums showcasing the Advanced Technological Education (ATE) program supported by the National Science Foundation (NSF). The goal of these forums was to educate national policymakers about the importance of: (1) improving the science and math competencies of…

  20. Legal Protection for Investor in Capital Market Stock Trading

    OpenAIRE

    Sofyan, Tito

    2013-01-01

    Protection for investor is the crucial issue because it has been found many evidence of the misuse of company's resources for extensive period. Moreover, there are also the case of stock lose, case in IPO, short selling, securities fraud, market manipulation, and insider trading. Stock market is abouttrust, if it lose, the market will collpase and it will affect the other sector, mainly economic sector. Undang-UndangNomor 8 Tahun 1995 tentangPasar Modal (UUPM) is one of the legal order to s...

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