A Test of the Adaptive Market Hypothesis using a Time-Varying AR Model in Japan

This study examines the adaptive market hypothesis (AMH) in Japanese stock markets (TOPIX and TSE2). In particular, we measure the degree of market efficiency by using a time-varying model approach. The empirical results show that (1) the degree of market efficiency changes over time in the two markets, (2) the level of market efficiency of the TSE2 is lower than that of the TOPIX in most periods, and (3) the market efficiency of the TOPIX has evolved, but that of the TSE2 has not. We conclude that the results support the AMH for the more qualified stock market in Japan.Comment: 10 pages, 2 figure, 2 table

Emergency medical service through the centuries — the Polish perspective

Gradually progressing civilizational development and the creation of advanced forms of social organization affected the number and scope of potential threats to which societies were subject. Thus, these threats have led to the organization of medical rescue systems that are capable of providing effective assistance in the event of a sudden threat to life and health. The first organized forms of providing medical assistance in emergencies date back to antiquity and should be sought in military organizations and warfare. In turn, medieval religious communities are considered to be the prototype of organized medical assistance provided to the sick and injured. However, it was only at the end of the 19th century that emergency services were created, the organization and operation of which are still evolving, adequately to social expectations resulting from the scope of potential threats

Emerging markets from Central and Eastern Europe Evolving market efficiency, problems of thin trading and price limits

SIGLEAvailable from British Library Document Supply Centre-DSC:DXN025302 / BLDSC - British Library Document Supply CentreGBUnited Kingdo

The Gerschgorin discs under unitary similarity

The intersection of the Gerschgorin regions over the unitary similarity orbit of a given matrix is studied. It reduces to the spectrum in some cases: for instance, if the matrix satisfies a quadratic equation, and also for matrices having "large" singular values or diagonal entries. This leads to a number of open questions