The role of the SGT Density with Conditional Volatility, Skewness and Kurtosis in the Estimation of VaR: A Case of the Stock Exchange of Thailand

AbstractOne of primary tools used to assess the financial risk is Value-at-Risk (VaR). It turns to be a standard measure of downward risk among financial intermediaries and regulators recently as it summarized the risk into just a single and easy-to-understand number. Despite the simplicity of VaR's concept, an accurate calculation of VaR is still challenging. This paper aims to propose an alternative approach which is believed to provide more accurate VaR rather than the traditional ones. Instead of the conventional Gaussian distribution, the more flexible skewed generalized t (SGT) density function is assumed for return series. Its volatility is characterized by eight types of GARCH process. Meanwhile, conditional skewness and kurtosis is modeled to exhibit time-varying feature by their past information set and autoregressive term. Daily returns on the SET index will be used to explore the performance of estimated VaR. The finding shows that this new approach can provide more accurate and robust estimates of the actual VaR threshold, especially with TS-GARCH model, than any other approaches that have been applied earlier

Preparing Elementary School Teachers for the Multifaceted Profession

Teaching in the 21st century classroom requires one to successfully manage many facets simultaneously. Temporary certified teachers are entering the classroom without the proper training needed to survive in the multifaceted profession of education. Research shows that teachers lack the field experience needed to sustain a successful career (Kronholz, 2013). Temporary certified teachers is better prepared for their career through clinical training. Through a review of literature, the researcher was able to determine that teachers lacked the necessary tools needed to fulfill their required duties. The implementation of customized clinical training proved to better prepare temporary certified teachers for the classroom. Providing clinical training increased teachers’ comfort and knowledge levels in multiple areas. The researcher used the qualitative research method to identify temporary certified teachers’ level of preparedness for the classroom. Through the use of an online pre- and post- survey using Likert Scale and an interview with open-ended questions, the researcher discovered that temporary certified teachers needed additional training in four major areas: classroom management, providing accommodations, social and emotional learning, and addressing unconscious bias. Research proved that teachers are unprepared and need training before entering the classroom. Based on the data collected from the survey and interviews, the researcher was able to create customized clinical webinar sessions that addressed the needs of the unprepared teachers. The virtual webinar sessions is a great tool to supplement the omitted student teaching and/or clinical training for temporary certified teachers. Once teachers participated in the clinical training, they received the customized field experience needed to be better prepared for the classroom. The results of the pre- and post- survey indicated that providing teachers with clinical training prepared them for the multifaceted career of education

Global Law: A Legal Phenomenon Emerging from the Process of Globalization

This article addresses the following question: Is Global Law merely a trendy theory, or are there concrete and factual elements allowing submission of irrefutable evidence of a movement toward the creation of a stand-alone international legal system? In this piece, Le Goff explores the idea of global law, and whether a harmonized scheme based on converging national laws and practices, international custom and values, among others, is emerging in the global economy. The first part of the article attempts to define the notion of global law, and to distinguish global law from other disciplines claiming a direct link to or regulatory effect over international matters, such as the lex mercatoria. The second part of the article looks at the process of creating global law through an analysis of the role played by international institutions and law practitioners in shaping its contents. Included is discussion concerning whether global law meets the formality criteria required to qualify as a self-standing legal field. Globalization of The Legal Profession, Symposium. Indiana University School of Law-Bloomington, April 6, 200

Contemplating the Revolution: Ethics, Culture, and History in German Political Thought, 1789-1815

This thesis examines the important roles played by a range of historical works in German political debates during the French Revolutionary and Napoleonic period. It uses texts across a range of genres and focuses on questions around the nature of ethics, culture, political communities, race, progress, and Enlightenment. Engaging with current controversies concerning these themes in the German Enlightenment, this thesis indicates crucial nuances in the relationships between continuity and innovation in contemporary historiography. In addition, it offers significant new understandings of the work of four leading intellectuals: August Ludwig Schlözer (1735-1809), Christoph Meiners (1747-1810), Johann Gottfried Eichhorn (1752-1827), and Charles de Villers (1765-1815). The first chapter analyzes conceptions of the historical role of philosophical thought, and especially the disputes surrounding the works of Kant and Fichte. Schlözer, Meiners, Eichhorn, and Villers responded to these debates by emphasizing the politicized nature of different approaches to metaphysics and its history. The second chapter examines ideas about natural law, cultural difference, and the concept of 'race'. As well as reappraising the ideas and intellectual relationships of key thinkers on these subjects, this chapter demonstrates that, contrary to previous claims, notions of cultural difference were often closely linked to theories of natural law. The third chapter considers accounts of the emergence of European modernity. It demonstrates how German thinkers responded to the circumstances of Revolutionary and Napoleonic Europe by significantly revising earlier variations of 'the Enlightened narrative'. Examining these debates reveals the significance of ideas about history, ethics, and culture in German political thought during the French Revolutionary and Napoleonic period. By indicating the different ways that these notions could be conceptualized and politicized, this thesis offers new insights into both the diverse meanings of Enlightenment during a period of European crisis, and the major transformations in contemporary German thought

Opening the black boxes of consumer misbehaviors: insights from studying online trolling

Online consumer misbehaviors, such as trolling, are widespread and poorly understood. Using actor-network theory, we explore the assemblages of human and non-human entities participating in trolling, showing that rather than managing misbehaving consumers, marketing practitioners should manage the socio-technical networks that allow and fuel these misbehaviors

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Electroweak Sudakov Corrections using Effective Field Theory

Electroweak Sudakov corrections of the form alpha^n log^m s/M_{W,Z}^2 are summed using renormalization group evolution in soft-collinear effective theory (SCET). Results are given for the scalar, vector and tensor form-factors for fermion and scalar particles. The formalism for including massive gauge bosons in SCET is developed.Comment: 5 page