IDIOSYNCRATIC RISK AND AUSTRALIAN EQUITY RETURNS

In this paper we investigate the relationship between portfolio returns and idiosyncratic risk for Australian stocks. We report that the portfolio with highest idiosyncratic volatility generates an average annual return of over 45%. We observe additionally that the outcome is consistent with an exponential growth process for stock prices. Further, consistent with Malkiel and Xu, we observe that a stock’s idiosyncratic volatility is inversely correlated with the size of the underlying firm. Thus, our model advances an interpretation of the Fama and French finding that portfolios of stocks of small firms offer superior risk-adjusted returns. Moreover, our findings challenge the portfolio theory of Markowitz (1959) and the asset-pricing model of Sharpe (1964).Idiosyncratic risk, Capital Asset Pricing Model, Size effect

Drag Reduction of a Modern Straight Truck

A wind tunnel test program was conducted at the Langley Full Scale Tunnel (LFST) to evaluate the performance of five passive drag reduction configurations on a modern straight truck at full scale. Configurations were tested in a build-up fashion with results representing a cumulative effect. Tested configurations include a front valance, a front box fairing, a boat-tail, an ideal side-skirt, and a practical side-skirt. Configurations were evaluated over a nominal 9 degree yaw sweep to establish wind averaged drag coefficients using SAE J1252. Genuine replicate yaw sweeps were used in an uncertainty analysis. Results show up to 28% improvement in wind-averaged drag coefficient and that significant gains can be made in straight truck fuel economy, even at non-highway speeds. © 2011 SAE International

Evaluation of glare reducing skin coatings as utilized in athletics

For many years, athletes have been wearing a black substance under their eyes. The ability of this substance to enhance an athlete\u27s performance has never been tested. This paper will address the ability of this substance to increase contrast sensitivity. Three different glare reducing skin coatings were photometrically tested to determine the product with the lowest gloss index. Utilizing the Arden Plates, contrast sensitivity (CS) was measured on 55 subjects ages 22-40 in a high glare environment both with and without the most effective glare reducing product. When wearing the glare reducing skin coating, subject\u27s CS increased significantly at the spatial frequency of 0.8 cpd, under our test conditions

Exploring the Perceptions and Experiences of Local Versus Non-Local Rangers: Insights From Across 11 Countries

Multiple demographic factors can affect ranger experiences and perceptions of their work, including factors like gender, age, and income. Similarly, whether a ranger is local to their conservation area might influence their experiences and perceptions of the work. This premise, however, has received limited attention. In this study we use survey data from across 11 countries to explore how being local to a conservation area might affect ranger experiences and perceptions. We define local rangers as originally being from within 20km of their conservation area. Our findings suggest that being local corresponds to more positive relations with local communities. Our results also imply that whilst being a local ranger might not directly affect job satisfaction, local rangers may well enjoy higher job satisfaction because of how they tend to differ from non-local rangers in other characteristics (e.g., lower formal education; greater access to familial support; more amicable community relations). Moreover, our findings indicate that non-local rangers tend to experience certain symptoms associated with a challenging job (e.g., feeling worn out and emotionally exhausted) more regularly than local rangers, which might correspond to lower welfare. In all, our findings indicate that further, more in-depth research into how the perceptions and experiences of local versus non-local rangers might differ could be useful. Examining the links between being a local ranger and community relations might be especially valuable

Prospectus, September 22, 1982

STUDENT VOTE SHOULD BE EXERCISED; News Digest; Election candidates present platforms; Children\u27s theater group performs new play; College remark causes reaction; Annex gets approval; C-U Happenings…; Club designed for business students; Bike is victim of \u27dastardly deed\u27; Microprecision department one of few in U.S.; Hough now teaches class; Community Calendar; Classified; Problem lyrics can\u27t overshadow great music; Hot Country Singles; TV season may bring surprises; TH\u27s delight CU at AH; Abbey\u27s job has variety; White leads for Parkland; ISU transfer looks like an asset; Fast Freddy Contesthttps://spark.parkland.edu/prospectus_1982/1010/thumbnail.jp