The Impact of Regulatory Changes on the Efficiency of the Phase II EU ETS European Carbon Futures

This study investigates long-horizon weak form market efficiency in the Phase II EU ETS (European Union Emissions Trading Scheme) Carbon Futures Market. Using data that encompasses exchange based (ECX) trades in Phase I and Phase II ECX CFI futures contracts from January 1, 2008, to September 28, 2010, this study employs various tests of long horizon weak form market efficiency including variance ratio tests, tests of trading rule profitability, and serial correlation. In contrast to prior research that focuses on Phase I EU ETS, this study finds evidence of a significant structural change to the EU ETS from Phase I to Phase II, and supports the efficient market hypothesis during Phase II (2008 “2010). Results suggest that documented improvements in market quality, increasing trading activity, and removal of Phase I market frictions have fostered improvements in market efficiency into and during Phase II

Short selling restrictions and index futures pricing: Evidence from China

© 2019 Elsevier Inc. This study examines the impact of short-selling restrictions on futures mispricing (relative to various benchmarks) in the market for CSI 300 index futures. In mid-2015, Chinese regulators imposed a new short-selling restriction in an attempt to curb excessive stock market volatility. Results show that futures under-pricing occurs more frequently at the transaction cost levels, ranging from 0 to 1.5%, while futures over-pricing occurs less frequently at the transaction cost levels from 0 to 0.75% under the new short sale rule. The results support the hypothesis that short-selling restrictions impose costs to the arbitrage trading strategies by arbitrageurs who do not own the underlying assets in the presence of futures under-pricing (or over-pricing of the underlying assets), resulting in more persistent futures under-pricing

The Grizzly, November 20, 1981

Ursinus Takes First Step As Planning Gets Under Way • Successful Graduates Advise Seniors • Whatley Invited to Shuttle Launch • Ursinus\u27 Tuition Compared to Other Colleges • Sleigh Bells in September • Annual Messiah Concert Dec. 5 • Study Abroad Series: \u27Of Pints and Men\u27 • Variety Briefs: One-man band; Chamber orchestra performs; Cafe international • USGA Notes • Girls B-Ball Optimistic For New Season • Aquamen Drop Opener • Grapplers Do Well • Men\u27s B-Ball...Can They Do It Again? • Fine Showing in Regionals Sends Team to Wisconsin • Girls Splash to Victoryhttps://digitalcommons.ursinus.edu/grizzlynews/1068/thumbnail.jp

Analyses of 123 Peripheral Human Immune Cell Subsets: Defining Differences with Age and between Healthy Donors and Cancer Patients not Detected in Analysis of Standard Immune Cell Types

Recent advances in human immunology have led to the identification of novel immune cell subsets and the biological function of many of these subsets has now been identified. The recent US Food and Drug Administration approval of several immunotherapeutics for the treatment of a variety of cancer types and the results of ongoing immunotherapy clinical studies requires a more thorough interrogation of the immune system. We report here the use of flow cytometry-based analyses to identify 123 immune cell subsets of peripheral blood mononuclear cells. The use of these panels defines multiple differences in younger (< 40 years) vs. older (≥ 40 years) individuals and between aged-matched apparently healthy individuals and metastatic cancer patients, aspects not seen in the analysis of the following standard immune cell types: CD8, CD4, natural killer, natural killer-T, regulatory T, myeloid derived suppressor cells, conventional dendritic cells (DCs), plasmacytoid DCs and B cells. The use of these panels identifying 123 immune cell subsets may aid in the identification of patients who may benefit from immunotherapy, either prior to therapy or early in the immunotherapeutic regimen, for the treatment of cancer or other chronic or infectious diseases

The Grizzly, November 21, 1980

Dean of Students\u27 Office Releases Vandalism Figures • Maintenance Working To Conserve Energy • Weight Room Relocated In Helfferich • College Union Attempts World\u27s Largest Molecule • Ursinus News In Brief: Espadas to speak today in Illinois; Maintenance planting new trees; Placement interviews coming soon • Rassias Method Explored for Languages • Journalism To Be Added To Curriculum • Medical Ethics Course Offered • Phil. & Rel. Dept. Lecture On Judaism • College To Host 43rd Messiah Performance • Foghat and Outlaws Perform for \u27Serious Rockers\u27 • Forum On Radiation Draws Mixed Views • Art Exhibit On Display In Wismer • Open House Planned By Astronomy Club • A Look At This Year\u27s Basketball Season • Cross Country To Compete In Nationals This Weekend • Gridders Lose Early Lead to Tie Gettysburghttps://digitalcommons.ursinus.edu/grizzlynews/1048/thumbnail.jp

The Grizzly, November 7, 1980

Reagan, Anderson Win In Campus Mock Election • Window Replacement To Start Soon • Weekend Crime Continues In New Men\u27s Dormitory • Bookstore Eyes Enlarged Facilities • Honorary Degrees Conferred At Founder\u27s Day • Library To Sponsor Open House • Breakdown For SAC Allocations Explored • Foreign Language Lunches Offered To Students • Another Viewpoint: I Object To War! • Students Do Their Stuff In Talent Show • Springsteen Unveils Interesting New Album • Party Brings Out Spirit On Halloween • Classics Club Underway • Why Carter Lost • UBEC Council Presents Three Faces Of Management • Soccer Finishes Season 7-7-1 • Breaks Carry Ursinus Past Lebanon Valley • Harriers Head Toward MACs • Field Hockey Enters Regional Competitionhttps://digitalcommons.ursinus.edu/grizzlynews/1046/thumbnail.jp

The Grizzly, October 17, 1980

Clouser Organizes Medical Advisory Committee • Union Rules Out Greaseband This Year • Freshman Class Appointments Available • Education Department Optimistic About Jobs • New Profs Appointed In German, History Depts. • Parents\u27 Day Brings Campus Enthusiasm • Staiger Named for State Committee • College Offers Numerous Special Programs • Coffeehouse Of \u27Distant Admiration\u27 • Radio WRUC Making Slow Return • Forum Presents Tyler and Althea • Parents\u27 Day Sees Gym Dedication • SAC Approves Two New Clubs • \u27Gong Show\u27 Provides Friday Night Fun • College Bowl Season Officially Opens • Heathens Take Intramural Title • Booters Kick Del Valley • Women\u27s Volleyball Faces Tough Schedule • Football Finds Season\u27s First W • Hockey Raises Record To 6-1-3https://digitalcommons.ursinus.edu/grizzlynews/1044/thumbnail.jp

The Grizzly, February 6, 1981

Computer Relocation Offers New Services • Breakage and Theft: Wismer Releases Alarming Loss Assessment • Borough Announces Water Alert • Weather Brings Maintenance Headaches • Departmental Focus: Chemistry • News Briefs: Speech exemption examination; Fraternity sponsors foster child; Resident assistant applications • USGA Notes • Union Announces Photo Contest • JDB in Transition • NY Trip A Must • UC Lorelei Tradition • Transplanted Texan • O\u27Neill\u27s First Union Appearance Success • Altered States Weakened • College Placement Office Expecting Busy Semester • NMD Waiting for Windows • Union Snack Shop Receives Needed Improvements • KDK Tops Sorority GPA List • Gymnastics Lookin\u27 Good • Women\u27s B-Ball Seen as Powerhouse • Basketball Still Holding First • W. Maryland Swamped by Swimmershttps://digitalcommons.ursinus.edu/grizzlynews/1051/thumbnail.jp