A comparison between the attachment styles and mate-selection criteria in urban and rural girls

The intent of this study was to compare attachment styles and Mate-selection criteria in urban and rural girls. The participant in this study included all the urban and rural girls (17-23 year old) of Ghorveh city in 2013-2014. A Sample consisting of 100 girls (50 urban and 50 rural) were selected using simple random sampling method. These two groups were equally matched on the basis of age, educational and economic status. Measuring instrument was the adult attachment scale, contains 21 questions, and researcher made questionnaire, titled as the mate-selection criteria contains 75 questions were applied. To analyze the data, frequency, percentage, average and the t test were applied. The results indicated that there is significant difference between the rural and urban girls with respect to the secure attachment style. Also the results reveal that there is a no difference between the anxiety attachment style, avoidance attachment style and Mate-selection criteria of the two groups (rural and urban girls)

Optimum Depletion of Oil Resources in a Developing Country

The majority of resource-based developing countries finance a high percentage of their development efforts through extraction and export of nonrenewable natural resources. Though the extraction and export policies of these countries might be subject to noneconomic international causes and effects (i.e., those that do not easily yield to empirical analysis (Mikdashi, 1976)), the need for each country to plan and implement an optimal and consistent policy in this regard is already well established (Meier 1984; Kemp and Long 1984; Neary and Wijnbergen 1986).

Productivity and Stock Returns: 1951 - 2002

There is considerable concern whether the decline in stock market returns will eventually exert negative changes in the productivity data. This paper examines the long run, or the equilibrium, relationship between productivity and stock returns for the 1951-2002 period. It introduces the notion of equilibrium as represented by the co-movements of economic variables in the long run. This notion is viewed to be broader than the economic theory definition of equilibrium that usually means market clearance. Acknowledging that structural changes in economic time series are hard to detect, an alternative approach employing pair-wise and multifactor cointegration along with VAR modeling is employed. Within this framework, the relationships among productivity, stock prices (returns), investment, and corporate cash flows are pair-wise and jointly investigated. The results indicate that productivity and stock prices share a common trend; so do the stock prices and corporate net cash flows. The long-run common trend between investment and stock prices on the other hand is not so clear. The implications of these results for investors and policy-makers are discussed

AN ANALYSIS OF CREDIT DEFAULT SWAPS: 2002-2009 PERIOD

ABSTRAC

Contemporaneous ADR Pricing: Intraday Dynamics during Overlapping Trading Hours

We contribute to the literature by identifying and accurately measuring the drivers of American depositary receipt (ADR) returns contemporaneously across various global time zones. We consider ADRs as two inherently distinct asset classes – stocks and currencies – bundled into one. Throughout, we use a relatively refined, focused, and synchronized minute-by-minute data set on ADRs and all other variables. ADRs from all countries with regular trading hours that overlap with those of the US are considered individually and in clusters. We analyze the interplay of several factors that influence ADRs pricing patterns. Further, we investigate whether such patterns vary by currency, ADR, industry, and emerging/developed market classifications. Our findings indicate that synchronized returns on underlying shares comprise 68.5–74% of the explained returns in ADRs. The remaining 31.5–26% of returns are generated by movements in currency rates. These results are robust across the several models and estimation methods employed. Our findings also show persistent small price discrepancies between ADRs and dollar-adjusted underlying shares on a minute-by-minute basis, implying possible arbitrage opportunities. However, we conclude that trading and ADR conversion costs render such opportunities unattractive

Currency Volatility and Bid-Ask Spreads of ADRs and Local Shares

This paper examines the impact of currency volatilities on the average monthly spreads in ADRs and their underlying local shares. We employ a novel estimator for spreads based on two-day-period high and low values of a comprehensive universe of stocks over fifteen years using dynamic panel data estimation. Surprisingly, we find that currency volatility has a larger impact on spreads of ADRs than on their underlying local shares. This adds novel information to the well-documented evidence that local shares and exchange rate variations are the primary drivers of ADR returns. FX implied volatility accounts for about 16.6% of the variance in our sample. We also observe that, on average, ADR spreads are smaller than the spreads on their corresponding underlying shares. We posit that size matters and therefore provide measures of the economic significance of all our estimated results