866,259 research outputs found
Left Behind: Intergenerational Transmission of Human Captial in the Midst of HIV/AIDS
HIV/AIDS, Intergenerational Transmission; Human Capital Investment; JEL: O12, I1, I2
The Impact of Hedging on Stock Return and Firm Value: New Evidence from Canadian Oil and Gas Companies
This paper analyzes the impact of hedging activities of large Canadian oil and gas companies on their stock returns and firm value. Differing from the existing literature this research finds that some of these relationships are nonlinear based on the framework of nonlinear generalized additive models. The research based on this more general methodology reveals some interesting findings on oil and gas hedging activities. The large Canadian oil and gas firms are able to use hedging to protect downside risk against the unfavorable oil and gas price changes. But oil hedging appears to be more effective in protecting stock returns than gas hedging is when downside risk presents. In addition, oil and gas reserves are more likely to play a positive (negative) role when the oil and gas prices are increasing (decreasing). Finally, hedging, in particular hedging on gas, together with profitability, investment and leverage, has certain impacts on firm value.oil; gas; hedging; return; firm value; general additive models ; Canada
How Has the Literature on Gini's Index Evolved in the Past 80 Years?
The Gini coefficient or index is perhaps one of the most used indicators of social and economic conditions. From its first proposal in English in 1921 to the present, a large number of papers on the Gini index has been written and published. Going through these papers represents a demanding task. The aim of this survey paper is to help the reader to navigate through the major developments of the literature and to incorporate recent theoretical research results with a particular focus on different formulations and interpretations of the Gini index, its social welfare implication, and source and subgroup decomposition.Gini coefficent or index; social welfare; decomposition; computation
The Impact of Monetary Policy Shocks on Stock Prices: Evidence from Canada and the United States
monetary policy shocks; stock prices; open economy; structural vector autoregressive model
The statistical analyses of flares detected in B band photometry of UV Ceti type stars
In this study, we present the unpublished flare data collected from 222
flares detected in the B band observations of five stars and the results
derived by statistical analysis and modeling of these data. Six basic
properties have been found with a statistical analysis method applied to all
models and analyses for the flares detected in the B band observation of UV
Ceti type stars. We have also compared the U and B bands with the analysis
results. This comparison allowed us to evaluate the methods used in the
analyses. The analyses provided the following results. (1) The flares were
separated into two types, fast and slow flares. (2) The mean values of the
equivalent durations of the slow and the fast flares differ by a factor of 16.2
\pm 3.7. (3) Regardless of the total flare duration, the maximum flare energy
can reach a different Plateau level for each star. (4) The Plateau values of EV
Lac and EQ Peg are higher than the others. (5) The minimum values of the total
flare duration increase toward the later spectral types. This value is called
the Half-Life value in models. (6) Both the maximum flare rise times and the
total flare duration obtained from the observed flares decrease toward the
later spectral types.Comment: 17 pages, 10 figures, 8 table
Productivity Growth and the Future of the U.S. Saving Rate
consumption-income ratio; saving rate; medium-run; productivity growth; U.S.
The Growth of Poor Children in China 1991-2000: Why Food Subsidies May Matter
height-for-age; child heath; growth; inequality; poverty; food subsidies; China
Brightness variations in totally-eclipsing binary GSC4589-2999
We present multi-colour CCD photometry of GSC4589-2999 obtained in 2008 and
2009. The observations indicate that the system is an active Algol binary.
Based on the new data, the mean brightness of the system is decreasing through
the years 2007-2009. The light curves obtained in 2008-2009 are modelled using
the Wilson-Devinney code. We also discussed the light and colour variations of
the system at different orbital phases. Evidence suggests that these brightness
and colour variations are due to the rotation of unevenly distributed starspots
on two components of the system.Comment: 17 pages, 3 figures, 3 table
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