Beta lives - some statistical perspectives on the capital asset pricing model

This note summarizes some technical issues relevant to the use of the idea of excess return in empirical modelling. We cover the case where the aim is to construct a measure of expected return on an asset and a model of the CAPM type is used. We review some of the problems and show examples where the basic CAPM may be used to develop other results which relate the expected returns on assets both to the expected return on the market and other factors

The administration of research. An interpretive summary of the Proceedings of the National Conference on the Administration of Research, 1947-1964

Research management and administration - summary of conference proceeding

Development of fuel cell electrodes Semiannual report, 30 Jun. 1966 - 30 Dec. 1966

Fuel cell using circulating liquid electrolyte and water removal by transpiration through porous electrode

Modelling credit spreads with time volatility, skewness, and kurtosis

This paper seeks to identify the macroeconomic and financial factors that drive credit spreads on bond indices in the US credit market. To overcome the idiosyncratic nature of credit spread data reflected in time varying volatility, skewness and thick tails, it proposes asymmetric GARCH models with alternative probability density functions. The results show that credit spread changes are mainly explained by the interest rate and interest rate volatility, the slope of the yield curve, stock market returns and volatility, the state of liquidity in the corporate bond market and, a heretofore overlooked variable, the foreign exchange rate. They also confirm that the asymmetric GARCH models and Student-t distributions are systematically superior to the conventional GARCH model and the normal distribution in in-sample and out-of-sample testing

Helmet weight simulator

A device for providing acceleration cues to the helmet of a simulator pilot is described. Pulleys are attached to both shoulders of the pilot. A cable is attached to both sides of the helmet and extends through the pulleys to a takeup reel that is controlled by a torque motor. Control signals are applied to a servo system including the torque motor, the takeup reel and a force transducer which supplies the feedback signal. In one embodiment of the invention the force transducer is in the cable and in another it is in the takeup reel

Final-state interactions and superscaling in the semi-relativistic approach to quasielastic electron and neutrino scattering

The semi-relativistic approach to electron and neutrino quasielastic scattering from nuclei is extended to include final-state interactions. Starting with the usual non-relativistic continuum shell model, the problem is relativized by using the semi-relativistic expansion of the current in powers of the initial nucleon momentum and relativistic kinematics. Two different approaches are considered for the final-state interactions: the Smith-Wambach 2p-2h damping model and the Dirac-equation-based potential extracted from a relativistic mean-field plus the Darwin factor. Using the latter the scaling properties of $(e,e')$ and $(\nu_\mu,\mu^-)$ cross sections for intermediate momentum transfers are investigated.Comment: 36 pages, 17 figure

Rangeland biomass estimation demonstration

Because of their sensitivity to chlorophyll density, green leaf density, and leaf water density, two hand-held radiometers which have sensor bands coinciding with thematic mapper bands 3, 4, and 5 were used to calibrate green biomass to LANDSAT spectral ratios as a step towards using portable radiometers to speed up ground data acquisition. Two field reflectance panels monitored incoming radiation concurrently with sampling. Software routines were developed and used to extract data from uncorrected tapes of MSS data provided in NASA LANDSAT universal format. A LANDSAT biomass calibration curve estimated the range biomass over a four scene area and displayed this information spatially as a product in a format of use to ranchers. The regional biomass contour map is discussed

Single stage experimental evaluation of variable geometry guide vanes and stator blading. Part 5 - Overall performance for variable camber guide vane and stator B with radial and circumferential inlet flow distortion

Inlet flow distortion effects on single stage variable geometry guide vanes and stator