Evidence of Market Inefficiency from the Bucharest Stock Exchange

This paper examines weak-form market efficiency in the Bucharest Stock Exchange (BSE) using dollar-converted returns from its main index BET. Employing a GARCH methodology, we find evidence that over ten years after its inauguration the BSE is still not weak-form efficient. Further evidence of market inefficiency is found in the consistent presence of a significant January effect. These findings are contrary to the conclusions in Harrison and Patton (2005), who conclude that the Romanian stock exchange was largely efficient by the year of 2000

Investor Return in REITs: Evidence of Market Timing and Capacity Constraints

This dissertation studies the returns earned in Real Estate Investment Trusts (REITs) from the point of view of the average investor. Traditional buy-and-hold returns while appropriate as a measure of return for financial asset may not adequately reflect the returns of the average individual investor because they do not take into account the capital flows in and out of an asset. Just as their name suggests, these are the returns one would earn if one buys a financial asset or portfolio at the beginning of a period and holds the investment until the end without making changes to the amount or composition of the investment. Most investors however make contributions, withdraw or rebalance their portfolios, making buy-and-hold returns unsuitable for measuring the returns of individual investors. Depending on how they time their cash flows, individual investors could perform significantly better or worse than the financial asset they are investing in. In addition capacity constrains to the return generating mechanism could be revealed as investors increase their cash involvement into an asset. Dollar weighted returns and dollar weighted average returns are alternative measures that accounts for all cash flows in and out of the investment. By contrasting investor centered returns to the conventional buy and hold returns this dissertation sheds light on the overall ability of investors to time the REIT market and the capacity constraints that they encounter

ERAWATCH Country Report 2008 - An Assessment of Research System and Policies: Bulgaria

The main objective of ERAWATCH country reports 2008 is to characterise and assess the performance of national research systems and related policies in a structured manner that is comparable across countries. The reports are produced for each EU Member State to support the mutual learning process and the monitoring of Member States' efforts by DG Research in the context of the Lisbon Strategy and the European Research Area. In order to do so, the system analysis focuses on key processes relevant for system performance. Four policy-relevant domains of the research system are distinguished, namely resource mobilisation, knowledge demand, knowledge production and knowledge circulation. The reports are based on a synthesis of information from the ERAWATCH Research Inventory and other important available information sources.JRC.J.3-Knowledge for Growt

SWIMMING EXERSISES AS A METHOD TO TREAT CHILDREN WITH SCOLIOSIS

INTRODUCTION: Idiopatic scoliosis is a disease, which is characterized by threedimensional deformation of the spine. leading to unstability of this structure. The subject of the study is the spine ,represented as a biomechanical, kinetic model and the mechanical forces, internal and external, acting on it. The proposed method makes it possible to correct the curves and to release the muscle’s disbalance with the following cathegories of children: children of 3 to 5 years old and children of 6 to 10 years old with 1 to 2 degree of curving, children of 11 to 13 years old treated by brace, children of 14 to 16 who have undergone a surgery intervention. The biomechanical analysis represents anatomical and operational analysis of the kinematic model behavior under study, expressed in mechanical values. This analysis makes it possible to predict the direction of the motion by determining the resultant of the muscle forces, causing the angular translation of the joint segments. The relationship between the number of actuator functions and the mobility of biomechanisms can be described by the logistic curve. It is known that the logistic principle of growth represents an important rule in biometry. The equation of the logistic curve / Verhulst & Pearl / is as follows: [...] METHODICS: The calculation of the operational values of the parameters of the model is made on the base of the surface EMG. In terms of the present model, the degree of muscular excitation is represented by: [...] RESULTS: The first data received as a result of the study shows that the effect of the exercises on the increase of the general muscle strength is already obvious during the second month after the beginning of the treatment*. This is a solid base to concentrate on the exersises with the damaged muscle groups. CONCLUSION: The results received are optimistic and make us continue the study of the children for a longer period of time. * Published: World Congress on Medical Physics and Biomedical Engineering September 14 -19, 1997 Nice, France: Volume 35, Supplement Part 1, 199

Teaching Futures Markets with the “ZIP Code” Trading Game

The price dynamics of futures markets and the spot-futures convergence are among the hardest concepts for students to fully understand in a traditional lecture. In this paper we present a classroom exercise designed to enable students to better grasp the intricacies of futures market trading. The simulation mirrors trading on an electronic market exchange in that students can freely submit bids and offers or enter into contracts at pre-existing quotes. We present questions and problems related to transaction data generated during the experiment to aid instructors in explaining: the mechanics of opening and closing position, the calculation of gains and losses, the daily settlement process, the futures-spot price convergence, the behavior of arbitrageurs and speculators, as well as the concepts of market efficiency and insider trading. Finally, we present experimental results from a large cohort of students in a Masters of Finance program

Interpreting in legal and healthcare settings: Perspectives on research and training, editado por Eva N.S. Ng e Ineke H.M.

Reseña del libro: Eva N.S. NG & Ineke H.M. Crezee, 2020. Interpreting in legal and healthcare settings: perspectives on research and training. John Benjamins publishing company, 360 páginas. ISBN: 978-90-272-0504-

Satisfaction with pediatric telehealth according to the opinions of children and adolescents during the COVID-19 pandemic: A literature review

ObjectiveTo review satisfaction with telehealth among children and adolescents based on their own opinions during the COVID-19 pandemic.MethodsIn the PubMed, CINAHL, PsycINFO, and Embase databases, we searched for peer-reviewed studies in English on satisfaction with telehealth among children and adolescents (rather than parents). Both observational studies and interventions were eligible. The review was categorized as a mini review because it focused on the limited time frame of the COVID-19 pandemic. We followed the Preferred Reporting Items for Systematic Reviews and Meta-Analyses guidelines. Reviewers extracted information from each study and assessed risk of bias.ResultsA total of 14 studies were eligible. Studies were conducted in Australia, Canada, Italy, Israel, Poland, South Korea, the United Kingdom, and the United States. They focused on a variety of health conditions. Two of the 14 studies were interventions. Participants expressed high satisfaction with video and telephone visits and home telemonitoring while also preferring a combination of in-person visits and telehealth services. Factors associated with higher satisfaction with telehealth included greater distance from the medical center, older age, and lower anxiety when using telehealth. In qualitative studies, preferred telehealth features among participants included: a stable Internet connection and anonymity and privacy during telehealth visits.ConclusionTelehealth services received favorable satisfaction ratings by children and adolescents. Randomized-controlled trials on the effectiveness of pediatric telehealth services compared to non-telehealth services may assess improvements in satisfaction and health outcomes

Health Communication in Neonatal Intensive Care: Results of Focus Groups or Interviews with Parents, Nurses and Physicians

Background and Purpose: Health communication interventions to successfully promote satisfaction with care among parents in the Neonatal Intensive Care Unit (NICU) are limited. This study investigated strategies for effective health communication in the NICU through focus groups with parents and nurses, and individual interviews with neonatologists. Methods: Eight parents, seventeen nurses, and three neonatologists from one NICU in Genesee County, Michigan participated. Results: Parents expressed a preference for daily, face-to-face communication with the physician. They recommended the use of visual aids to help with understanding infants� conditions. One such aid would be a baby diary to serve as the infant�s daily progress report for the parent to review during the visit. A communication strategy used by nurses was providing parents with the most up-to-date information in an approachable, reassuring manner. Physicians suggested interactive communication practice sessions as strategies to increase effective communication between physicians and parents. Physician-to-nurse strategies consisted of building trustworthy relationships by holding scientific forums, discussing health care disagreements, and accepting differing opinions. Conclusion: Future research may assess the influence of strategies recommended in this study on parental satisfaction with care and adherence to treatment recommendations as well as on health care provider self-efficacy