Semantic context effects in forward and backward word translation by Korean learners of English

The preceding review indicates that the results of previous research on the issues of the RHM are not consistent. The present study was designed to investigate this topic further with Korean learners of English. Most of the previous research on semantic context effects in lexical processing has been conducted with participants whose first and second language derive from the same Indo-European family such as Dutch learners of English. The use of Korean learners of English would provide distinct information, since the two languages differ considerably. In addition, this study sought to clarify the possible interaction of semantic context effects and L2 proficiency level. According to Chen (1990), research results have demonstrated that proficiency plays a main role for patterns of lexical processing. In spite of the acknowledged importance of this, there are very few empirical studies of different groups of participants with varying degrees of proficiency in the L2. This study sought to answer the following research questions: 1. Is forward translation conceptually mediated? Is backward translation based on word-word association? 2. Are both or either translation directions facilitated by the presence of a semantically related context? 3. Does L2 proficiency mediate semantic effects in both or either translation directions

Seasonality In Mutual Fund Flows

In this paper I establish the presence of seasonality in cash flows to U.S. domestic mutual funds. January is the month with the highest net cash flows to equity funds and December is the month with the lowest net cash flows. The large net flows in January are attributed to increased purchases, and the small net flows in December are due to increased redemptions. Thus, the turn-of-the-year period is the time that most mutual fund investors make their investment decisions

Dugoročna ravnoteža odnosa sustava burzovnih čimbenika na međunarodnoj burzi

The main objective of this paper is to investigate the international linkages among local, country-specific stock market factors in order to better understand the dependence structure of increasingly integrated world financial markets. The seeming discordance between Fama and French (1998) and Griffin (2002) regarding the multi-factor model in the international stock markets motivates us to study the international relationship among local factors. With the individual stock data from the six major developed countries in the international stock market, we compose daily returns to the Fama-French three factors (i.e. market, size, and value) and the momentum factor over the period from January 2000 to June 2010. We investigate the international linkages among local stock market factors, focusing on their equilibrium relationship in the integrated world financial market. The cointegration analysis indicates that local factor indices, constructed from the cumulative factor returns, are cointegrated for each of the four factor classes. Thus, we conclude that local factors are globally bound to each other through a long-run equilibrium relationship and that although stock market factors may be local, rather than global, individual stock returns are driven by common global stochastic trends.Glavni cilj ovog rada je istražiti međunarodne veze lokalnih čimbenika burze specifične za određenu zemlju kako bi se bolje pojmila strukturalna međuovisnost sve integriranijih svjetskih financijskih tržišta. Naizgled nesklad između Fame i Frencha (1998) i Griffina (2002) a koji se odnosi na multi-faktor model u međunarodnim burzama motivirao nas je za istraživanje međunarodnog odnosa lokalnih čimbenika. Uz podatke individualnih dionica šest glavnih razvijenih zemalja na međunarodnom tržištu dionica, sastavili smo dnevnu dobit u odnosu na Fama-Frenchova tri čimbenika (tj. tržište, veličina i vrijednost) i faktor stvaranja zamaha u razdoblju od siječnja 2000. do lipnja 2010. Istražujemo međunarodne veze među lokalnim čimbenicima na tržištu dionica s naglaskom na njihovu ravnotežu odnosa u integriranom svjetskom financijskom tržištu. Analiza ko-integracije pokazuje da su lokalni faktori indeksa izgrađeni od kumulativnih faktoradobiti ko-integrirani za svaki od četiri faktora klase. Dakle, možemo zaključiti da su lokalni čimbenici globalno međusobno povezani kroz dugoročni odnos ravnoteže i iako burzovni čimbenici mogu biti lokalni a ne globalni, dobit od pojedinih dionica proizlazi iz zajedničkih globalnih stohastičkih trendova

LAND-USE CHANGE AND CARBON SEQUESTRATION IN THE FORESTS OF OHIO, INDIANA, AND ILLINOIS: SENSITIVITY TO POPULATION AND MODEL CHOICE

This study develops a model of land use change in the Midwestern States of Ohio, Indiana, and Illinois. Given the emergence of spatial econometrics, three models are compared to assess the sensitivity of the estimates to alternative assumptions about the distribution of their errors. Projections of future land use change are then developed, and the results are compared across different assumptions about population growth and models. We then estimate carbon sequestration potential in the region and compare the costs of different programs across the population assumptions and the alternative models. Different assumptions about population growth and error terms do not appear to affect the carbon sequestration cost estimates.Environmental Economics and Policy, Land Economics/Use,

Management competencies of golf course directors

Scope and Method of Study: The purpose of this study was: (1) to identify differences in response toward the importance of management competencies among golf course directors who held PGA membership in diverse regions of the United States; (2) to identify the differences in the perceived importance of management competencies among PGA golf professionals in disparate types of golf courses (private, semiprivate, and public) in the United States; (3) to determine if there was consistency among PGA golf professionals as to preferred competencies for golf course directors; and (4) to discover the importance of needed competencies identified in the PGA professionals' analysis for golf course directors in private, semi-private, and public golf courses in the United States.Findings and Conclusions: The perceived importance of the management competencies among PGA golf directors at disparate types of golf courses in diverse regions was tested using the Competencies of Golf Course Directors (CGCD) instrument. Statistical analyses indicated that the importance of preferred management competencies differed among golf course directors in diverse golf environments. Some differences were shown to exist between golf course directors in diverse regions and in disparate types of golf courses. Therefore, there was little consistency in the perceived importance of each competency among golf course directors. Competency factors identified by golf course directors indicated the presence of a 2-factor competency model, which consisted of 76 observed competencies including (1) Golf Operations and (2) Client Care Development. Overall response rate for this study was low (10.3 percent) compared to other online surveys. However, the CGCD explained 36.5 percent of variance in the response group