48 research outputs found

    Essays on gender and investment decisions : a thesis presented in fulfilment of the requirements for the degree of Doctor of Philosophy in Finance at Massey University, Albany, New Zealand

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    The puzzle of whether gender differences exist in behavioral biases and investment preferences of highly skilled and experienced professionals remains unsolved. Subsequently, this thesis consists of three related essays on investment decisions by gender of professionals in the field of finance. The first essay shows that prospect theory value influences insider trading decisions, and the impact is stronger among female executives’ trades. Female insiders tend to carry more biased trades and suffer significantly higher resultant losses, as compared to their male counterparts. Female insiders who buy (sell) when their company's prospect theory value is above (below) other firms’ prospect theory values, lose 47 basis points over the next month. While the findings contradict the overconfidence hypothesis that predicts poor trading decisions by male insiders, the results are consistent with the male insiders’ superior information access hypothesis, suggesting that informational disadvantage serves as a possible channel of higher behavioral biases in female insiders’ trading. The second essay demonstrates that the gender of mutual fund managers affects the liquidity of a portfolio. Female managers prefer higher portfolio liquidity than their male counterparts. Funds managed by single female managers are 8-25% more liquid than single male managed funds. Contrary to the excessive trading hypothesis that expects a higher liquidity preference by overconfident male fund managers, the findings support the inclination of female fund managers for the price efficiency hypothesis. Funds experience increased liquidity when they transition to a female manager. The third essay documents that the collective self-construal of female fund managers explains their tendency to invest less actively as compared to their male counterparts. Funds with a higher proportion of female managers in the management team closely track the multifactor benchmark. For the funds managed by more female managers than males, the economic benefits of diversification are 1.86% lower than other funds. Consistent with the literature, female fund managers herd more, take less risk, and are less overconfident than males. These investment behaviors are likely to be the possible explanations of the less active investing strategy of female fund managers

    Big Data in HEP: A comprehensive use case study

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    Experimental Particle Physics has been at the forefront of analyzing the worlds largest datasets for decades. The HEP community was the first to develop suitable software and computing tools for this task. In recent times, new toolkits and systems collectively called Big Data technologies have emerged to support the analysis of Petabyte and Exabyte datasets in industry. While the principles of data analysis in HEP have not changed (filtering and transforming experiment-specific data formats), these new technologies use different approaches and promise a fresh look at analysis of very large datasets and could potentially reduce the time-to-physics with increased interactivity. In this talk, we present an active LHC Run 2 analysis, searching for dark matter with the CMS detector, as a testbed for Big Data technologies. We directly compare the traditional NTuple-based analysis with an equivalent analysis using Apache Spark on the Hadoop ecosystem and beyond. In both cases, we start the analysis with the official experiment data formats and produce publication physics plots. We will discuss advantages and disadvantages of each approach and give an outlook on further studies needed.Comment: Proceedings for 22nd International Conference on Computing in High Energy and Nuclear Physics (CHEP 2016

    Comparative Evaluation of Lamina Cribrosa Anatomical Parameters with Retinal Nerve Fiber Layer Thickness Defects In Primary Open-angle Glaucoma Cases And Controls

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    OBJECTIVES To assess the lamina cribrosa (LC) anterior lamina cribrosa depth (ALCD), lamina cribrosa thickness (LCT) and retinal nerve fiber layer thickness (RNFLT) in primary open-angle glaucoma (POAG) cases and age-matched controls and to compare these anatomical variables among POAG cases and age-matched controls. METHODOLOGY The case-control study was researched at Al-Ain Eye Institute, Karachi, in four month’s duration (November 2018 till February 2019). Expert eye specialist recruited 57 POAG cases and 46 age-matched healthy controls. Observation of intraocular pressure (IOP) and open angle was done using Goldmann tonometry and Slit-lamp biomicroscopy with stereoscopic ophthalmoscopy respectively. Visual field parameters of mean deviation (MD) and pattern standard deviation (PSD) measured using Humphrey Field Analyzer. Highly sensitive spectral domain ocular coherence tomography with enhanced depth imaging (EDI-OCT) was used to determine ALCD, LCT and RNFLT. RESULTS Statistically significant results were produced by RNFLT defects when it is compared in groups of mild with moderate cases of POAG (P-value 0.037). ALCD and LCT did display an association with RNFLT defects but did not produced statistically significant results. CONCLUSION Assessments of ALCD and LCT can provide important prognostic evidence about RNFLT and can assist in future planning of mild and moderate cases suffering from POAG

    Frequency and Risk Factors of Depression among Medical Students: A Cross-Sectional Study in Karachi

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    OBJECTIVES The study aimed to determine the frequency of depression among medical students and to identify the different risk factors associated with depression. METHODOLOGY A cross-sectional study was conducted among medical students at a private medical college in Karachi. The study was initiated after approval was taken from the ethical committee. Consent was taken before the data collection after explaining the details of the study. Students were selected for this study as per inclusion criteria. They were provided with the PHQ-9 questionnaire in which they were inquired about the factors for depression. The total students with depression positive were presented by their frequencies with a 95% confidence interval. RESULTSThree hundred seventy medical students participated, and 207 (56%) tested positive for depression. Notably, depression was more prevalent among final-year students, with 80% affected. Additionally, the severity of depression gradually increased with advancing medical years, reaching the highest level in the final year, where 61 students (80%) reported significant depression. The most frequent causes of depression were living away from home and facing the challenges of a demanding curriculum. CONCLUSION The study findings revealed a higher likelihood of depression among medical students, particularly in their final year. This vulnerability was exacerbated by the stress associated with extensive coursework and peer pressure to achieve excellent exam grades

    Parallel IO Libraries for Managing HEP Experimental Data

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    The computing and storage requirements of the energy and intensity frontiers will grow significantly during the Run 4 & 5 and the HL-LHC era. Similarly, in the intensity frontier, with larger trig ger readouts during supernovae explosions, the Deep Underground Neutrino Experiment (DUNE) will have unique computing challenges that could be addressed by the use of parallel and accelerated dataprocessing capabilities. Most of the requirements of the energy and intensity frontier experiments rely on increasing the role of high performance computing (HPC) in the HEP community. In this presentation, we will describe our ongoing efforts that are focused on using HPC resources for the next generation HEP experiments. The HEPCCE (High Energy Physics-Center for Computational Excellence) IOS (Input/Output and Storage) group has been developing approaches to map HEP data to the HDF5 , an IO library optimized for the HPC platforms to store the intermediate HEP data. The complex HEP data products are serialized using ROOT to allow for experiment independent general mapping approaches of the HEP data to the HDF5 format. The mapping approaches can be optimized for high performance parallel IO. Similarly, simpler data can be directly mapped into the HDF5, which can also be suitable for offloading into the GPUs directly. We will present our works on both complex and simple data model models

    The U.S. CMS HL-LHC R&D Strategic Plan

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    The HL-LHC run is anticipated to start at the end of this decade and will pose a significant challenge for the scale of the HEP software and computing infrastructure. The mission of the U.S. CMS Software & Computing Operations Program is to develop and operate the software and computing resources necessary to process CMS data expeditiously and to enable U.S. physicists to fully participate in the physics of CMS. We have developed a strategic plan to prioritize R&D efforts to reach this goal for the HL-LHC. This plan includes four grand challenges: modernizing physics software and improving algorithms, building infrastructure for exabyte-scale datasets, transforming the scientific data analysis process and transitioning from R&D to operations. We are involved in a variety of R&D projects that fall within these grand challenges. In this talk, we will introduce our four grand challenges and outline the R&D program of the U.S. CMS Software & Computing Operations Program.Comment: CHEP2023 proceedings, to be published in EPJ Web of Conference
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