scholarly journals The Risk-Adjusted Performance of Alternative Investment Funds and UCITS: A Comparative Analysis

2018 ◽  
Vol 10 (7) ◽  
pp. 23 ◽  
Author(s):  
Silvio John Camilleri ◽  
Ritienne Farrugia
Keyword(s):  
The Other ◽  
Sample Period ◽  
Investment Funds ◽  
Regulatory Frameworks ◽  
Out Of Sample ◽  
Overall Performance ◽  
Focus Strategy ◽  
Over Time ◽  
Selection Of ◽  
Alternative Investment

This study evaluates the performance of a selection of Alternative Investment Funds (AIFs), and Undertakings for Collective Investment in Transferable Securities Funds (UCITS) which followed a global geographic focus strategy during the period 2010-2016. These two fund structures are governed by different regulatory frameworks, which have evolved and re-shaped over the years. Various yardsticks are employed to evaluate the risk-adjusted performance of the sampled funds, and Monte-Carlo simulations are used to gauge the possible out-of-sample returns. Most of the sampled funds underperformed the benchmark index in terms of their Sharpe and Treynor ratios. Whilst UCITS registered a better overall performance, AIFs outperformed UCITS towards the end of the sample period. This suggests that investors should not assume that one fund structure is inherently superior to the other, since the relative performance may vary over time.

Hybrid court resilience and the selection of cases

2020 ◽  
Vol 33 (4) ◽  
pp. 1029-1046
Author(s):  
Michail Vagias
Keyword(s):  
Sierra Leone ◽  
External Pressure ◽  
The Other ◽  
Context Sensitive ◽  
Case Selection ◽  
Other Hand ◽  
Scope Of Application ◽  
National Reconciliation ◽  
Over Time ◽  
Selection Of

AbstractThe article explores the extent to which the resilience of hybrid courts is impacted by their selection of cases. It proceeds from the observation that the cases pursued by hybrid institutions are the result of choice under constraints. The article examines the identity of the case-choosers and the relevance of such choices for the internal and external resilience of hybrid courts. The research reveals the need to distinguish between case selection by the drafters and case selection by court authorities in the context of each institution and the tensions between these two sets of practices. These tensions are examined in the context of four hybrid institutions. The Office of the Prosecutor at the Special Court for Sierra Leone enjoyed a relatively broad measure of discretion in terms of case selection. However, the Extraordinary African Chambers, the Cambodia Chambers and the Kosovo Specialist Chambers seem to have been established with specific accused in mind. The article argues that resilience considerations are probably relevant in instances of case selection by the court officers, albeit they are context sensitive and may vary over time. Case selection prior to the establishment of a court and/or by political stakeholders, on the other hand, is ill-suited for analysis using internal resilience and arguably fall outside its scope of application. For these cases, the research argues that the discussion requires re-orientation with emphasis shifted to concepts such as contribution to national reconciliation as opposed to resistance to external pressure.

scholarly journals Flexibility and Use of a Novel Tool in Asian Small-Clawed Otters (Aonyx cinerea)

2016 ◽  
Vol 29 ◽  
Author(s):  
Erin E. Frick ◽  
Leor Friedman ◽  
Jessica Peranteau ◽  
Kaitlyn Beacham ◽  
Stan A. Kuczaj II
Keyword(s):  
Hand Dexterity ◽  
First Choice ◽  
Side Preference ◽  
Initial Inability ◽  
Overall Performance ◽  
The One ◽  
Being Moved ◽  
Over Time ◽  
Selection Of ◽  
Side Bias

Asian small-clawed otters (Aonyx cinerea) demonstrate remarkable hand dexterity when gathering and consuming prey, but little is known about their ability to use objects as tools. The present study used a tool choice paradigm in which six Asian small-clawed otters were tested individually and presented with two identical hook-shaped tools. For each trial, only one tool was positioned such that pulling it allowed an otter to obtain food. Pulling the other hook resulted in the correct hook being moved out of reach, necessitating selection of the correct tool as its first choice The two males performed above chance levels, but the four females did not. The females’ poor overall performance may have reflected their initial inability to understand the tool choice task. Two of the females’ performances improved by 20% over the course of the trials, and another female showed 5% improvement over time. In addition, some incorrect responses appeared to be due to the development of a side preference, rather than to the configuration of the apparatus. Four of the otters exhibited a significant side bias toward the left, but there were individual differences in how these preferences presented in each otter. For all otters, latency to approach and make a choice on the tool-use task decreased over time, regardless of success. Although otters do appear capable of learning which tool should be used in a forced choice comparison such as the one used here, other factors appear to influence the choices individual otters make.

scholarly journals Measuring Productivity Dispersion

2018 ◽  
pp. 592-624
Author(s):  
Eric J. Bartelsman ◽  
Zoltan Wolf
Keyword(s):  
Empirical Evidence ◽  
The Other ◽  
Resource Reallocation ◽  
Methodological Issues ◽  
Or Efficiency ◽  
The One ◽  
Selection Mechanisms ◽  
Input Markets ◽  
Over Time ◽  
Selection Of

Measuring the dispersion of productivity or efficiency across firms in a market or industry is rife with methodological issues. Nevertheless, the existence of considerable dispersion now is well documented and widely accepted. Less well understood are the economic features and mechanisms underlying the magnitude of dispersion and how dispersion varies over time or across markets. On the one hand, selection mechanisms in both output and input markets should favor the most productive units through resource reallocation, thereby reducing dispersion. On the other hand, innovation and technological uncertainty tend to increase dispersion. This chapter presents a guide to the measurement of dispersion and provides empirical evidence from a selection of countries and industries using a variety of methodologies.

Note on Selection of Coordinate Systems for Geodynamics

1975 ◽  
Vol 26 ◽  
pp. 395-407
Author(s):  
S. Henriksen
Keyword(s):  
Sea Level ◽  
The Other ◽  
Coordinate Systems ◽  
Mean Sea Level ◽  
The Earth ◽  
The One ◽  
Static Systems ◽  
Selection Of

The first question to be answered, in seeking coordinate systems for geodynamics, is: what is geodynamics? The answer is, of course, that geodynamics is that part of geophysics which is concerned with movements of the Earth, as opposed to geostatics which is the physics of the stationary Earth. But as far as we know, there is no stationary Earth – epur sic monere. So geodynamics is actually coextensive with geophysics, and coordinate systems suitable for the one should be suitable for the other. At the present time, there are not many coordinate systems, if any, that can be identified with a static Earth. Certainly the only coordinate of aeronomic (atmospheric) interest is the height, and this is usually either as geodynamic height or as pressure. In oceanology, the most important coordinate is depth, and this, like heights in the atmosphere, is expressed as metric depth from mean sea level, as geodynamic depth, or as pressure. Only for the earth do we find “static” systems in use, ana even here there is real question as to whether the systems are dynamic or static. So it would seem that our answer to the question, of what kind, of coordinate systems are we seeking, must be that we are looking for the same systems as are used in geophysics, and these systems are dynamic in nature already – that is, their definition involvestime.

A Comparison of Four Adolescent Language Tests

1987 ◽  
Vol 18 (3) ◽  
pp. 250-266 ◽  
Author(s):  
R. Jane Lieberman ◽  
Ann Marie C. Heffron ◽  
Stephanie J. West ◽  
Edward C. Hutchinson ◽  
Thomas W. Swem
Keyword(s):  
Test Performance ◽  
Sixth Grade ◽  
Significant Discrepancy ◽  
Language Impaired ◽  
Language Functions ◽  
Language Tests ◽  
Significant Difference ◽  
Sixth Grade Students ◽  
Overall Performance ◽  
Selection Of

Four recently developed adolescent language tests, the Fullerton Test for Adolescents (FLTA), the Test of Adolescent Language (TOAL), the Clinical Evaluation of Language Functions (CELF), and the Screening Test of Adolescent Language (STAL), were compared to determine: (a) whether they measured the same language skills (content) in the same way (procedures); and (b) whether students performed similarly on each of the tests. First, respective manuals were reviewed to compare selection of subtest content areas and subtest procedures. Then, each of the tests was administered according to standardized procedures to 30 unselected sixth-grade students. Despite apparent differences in test content and procedures, there was no significant difference in students' performance on three of the four tests, and correlations among test performance were moderate to high. A comparison of the pass/fail rates for overall performance on the tests, however, revealed a significant discrepancy between the proportions of students identified in need of further evaluation on the STAL (20%) and the proportion diagnosed as language impaired on the three diagnostic tests (60-73%). Clinical implications are discussed.

Emotional Impact Feedback Changes How We Remember Negative Autobiographical Experiences

2010 ◽  
Vol 57 (5) ◽  
pp. 354-359 ◽  
Author(s):  
Melanie K. T. Takarangi ◽  
Deryn Strange
Keyword(s):  
Well Being ◽  
The Other ◽  
Personal Perspective ◽  
Emotional Impact ◽  
Potential Mechanism ◽  
Negative Experiences ◽  
Negative Memory ◽  
The Relationship ◽  
Negative Memories ◽  
Over Time

When people are told that their negative memories are worse than other people’s, do they later remember those events differently? We asked participants to recall a recent negative memory then, 24 h later, we gave some participants feedback about the emotional impact of their event – stating it was more or less negative compared to other people’s experiences. One week later, participants recalled the event again. We predicted that if feedback affected how participants remembered their negative experiences, their ratings of the memory’s characteristics should change over time. That is, when participants are told that their negative event is extremely negative, their memories should be more vivid, recollected strongly, and remembered from a personal perspective, compared to participants in the other conditions. Our results provide support for this hypothesis. We suggest that external feedback might be a potential mechanism in the relationship between negative memories and psychological well-being.

INTERFERENSI GRAMATIKAL DALAM KUMPULAN CERPEN BIARKAN AKU MEMULAI KARYA NURUL F. HUDA

2019 ◽  
Vol 1 (01) ◽  
pp. 16-23
Author(s):  
Zimmatul Liviana
Keyword(s):  
Short Stories ◽  
Data Collection ◽  
Qualitative Method ◽  
Language Variation ◽  
The Other ◽  
Qualitative Descriptive ◽  
Ofthe Object ◽  
Selection Of ◽  
Descriptive Qualitative

The research grammatical interference in a collection ofshort stories Biarkan Aku Memula iwork Nurul F. Hudaisa collection ofshort storiesset in the back that Is start work Let Nurul F. Huda contains many grammatical interference.The problem of this   study were(1)how   the various morphologi calinterference containedin   a   collection of short stories Biarkan Aku Memulai work Nurul F. Huda. (2)how the various syntactic interference contained in a collection of short stories Biarkan Aku Memulai work Nurul F. Huda. The purposeof this studyis to describe the morphological and         Syntactic interference contained in a collection of short stories Biarkan Aku Memulai work Nurul F. Huda. Sociolinguistics is the study of language variation and use in society. Interference is the event of the use of language elements of one into the other language elements that occur in the speakers themselves. This research uses descriptive qualitative method because to describe the actual realityin order to obtainan accurateand objective. Qualitative descriptive methods were used to analyzethe elements ofa word orphrase that incorporated elements of other languages with the analysis and description of the formulation of the problem is the answer. Data collection techniques using observation techniques, the determination ofthe object of research, the selection of short stories.Based on the analysis of the data in this study can be found that there are six forms of interference morphology, namely (1) the prefix nasal N-sound, (2) the addition of the suffix, (3) the exchange prefix, (4) exchange suffixes, (5) exchange konfiks, (6) removal affixes. While the syntactic interference only on the words and phrases in a sentence. The results of the study it can be concluded that the interference morphology more common than syntactic interference.

Coevolution

2017 ◽  
Author(s):  
Avi Max Spiegel
Keyword(s):  
The Other ◽  
The Political ◽  
Over Time ◽  
Islamist Movements

This chapter seeks to understand how Islamist movements have evolved over time, and, in the process, provide important background on the political and religious contexts of the movements in question. In particular, it shows that Islamist movements coevolve. Focusing on the histories of Morocco's two main Islamist movements—the Justice and Spirituality Organization, or Al Adl wal Ihsan (Al Adl) and the Party of Justice and Development (PJD)—it suggests that their evolutions can only be fully appreciated if they are relayed in unison. These movements mirror one another depending on the competitive context, sometimes reflecting, sometimes refracting, sometimes borrowing, sometimes adapting or even reorganizing in order to keep up with the other.

Correspondances étymologiques, lexicales et sémantiques dans le processus de féminisation de noms de profession, métiers et activités dans les sociétés française et roumaine

2020 ◽  
Vol 65 (4) ◽  
pp. 401-422
Author(s):  
Estelle Variot
Keyword(s):  
The Other ◽  
Roman World ◽  
Other Hand ◽  
The One ◽  
Over Time

"Etymological, Lexical and Semantic Correspondences in the Process of Feminization of Professional Names, Trades and Activities in French and Romanian Societies. The feminization of thought represented by language and of its varieties in the Roman World has allowed to highlight some convergences that come from a common linguistic heritage, often from Greek and Latin and some hesitation about adapting society to its realities. The feminization of some words which comes from an ancient process illustrates on the one hand the potential of the language and on the other hand some constraints sometimes linked to the society itself, which creates transitional periods, between matching grammatical correction and the evolution of linguistic uses over time. The possibilities of lexical enrichment (internal creation or loan) show the means available in French and Romanian and some convergences in the area of derivation, of lexical units and their etymologies. The grammatical perspective and word constructing methods make it possible to give keys for the feminization of names of trades or professions. Likewise, recording entries in the lexicon, their evolution, their assimilation or sometimes their forgetfulness, for the benefit of new constructions highlight the existence of objective and subjective criteria which teach us a lot about society as a whole. Keywords: feminization of professions, internal and external enrichment, suffixal match, use of words, grammar, lexicon, French and Romanian."

The Values and Norms of Islam

2010 ◽  
Vol 1 (1) ◽  
pp. 1-19
Author(s):  
Ahmed Akgunduz
Keyword(s):  
Islamic Law ◽  
Legal Theory ◽  
The Other ◽  
Moral Norms ◽  
Simple Fact ◽  
Value System ◽  
Legal Norms ◽  
Islamic Legal Theory ◽  
The World ◽  
Over Time

AbstractIslamic Law is one of the broadest and most comprehensive systems of legislation in the world. It was applied, through various schools of thought, from one end of the Muslim world to the other. It also had a great impact on other nations and cultures. We will focus in this article on values and norms in Islamic law. The value system of Islam is immutable and does not tolerate change over time for the simple fact that human nature does not change. The basic values and needs (which can be called maṣlaḥa) are classified hierarchically into three levels: (1) necessities (Ḍarūriyyāt), (2) convenience (Ḥājiyyāt), and (3) refinements (Kamāliyyāt=Taḥsīniyyāt). In Islamic legal theory (Uṣūl al‐fiqh) the general aim of legislation is to realize values through protecting and guaranteeing their necessities (al-Ḍarūriyyāt) as well as stressing their importance (al‐ Ḥājiyyāt) and their refinements (taḥsīniyyāt).In the second part of this article we will draw attention to Islamic norms. Islam has paid great attention to norms that protect basic values. We cannot explain all the Islamic norms that relate to basic values, but we will classify them categorically. We will focus on four kinds of norms: 1) norms (rules) concerned with belief (I’tiqādiyyāt), 2) norms (rules) concerned with law (ʿAmaliyyāt); 3) general legal norms (Qawā‘id al‐ Kulliyya al‐Fiqhiyya); 4) norms (rules) concerned with ethics (Wijdāniyyāt = Aḵlāqiyyāt = Ādāb = social and moral norms).

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