TESTING MARKET EFFICIENCY VIA DECOMPOSITION OF STOCK RETURN. APPLICATION TO ROMANIAN CAPITAL MARKET

In this paper we are investigating the market efficiency using a model which decomposes the stock return into two components: a stochastic trend and a white noise component. This model is tested for the Romanian Capital Market, considering the time series of BET (Bucharest Exchange Trade) Index. The conclusion is that for our data sample we cannot reject the efficient market hypothesis for Romanian Capital Market. Classificaefficient market hypothesis, random walk, stochastic trend, ARIMA models, Romanian Capital Market, BET.tion-JEL: C42, G14

Topological comparison theorems for Bredon motivic cohomology

We prove equivariant versions of the Beilinson-Lichtenbaum conjecture for Bredon motivic cohomology of smooth complex and real varieties with an action of the group of order two. This identifies equivariant motivic and topological invariants in a large range of degrees.Comment: Corrected indices in main theorem and a few minor changes. To appear, Transactions AM

THE IMPACT OF CULTURAL-CREATIVE INDUSTRIES ON THE ECONOMIC GROWTH - A QUANTITATIVE APPROACH

Culture is a powerful tool to communicate values and to promote objectives of public interest that are broader than wealth creation. The economy of culture entails both cultural and creative sectors. It has to be noted that, along with the development of the information and communication technology (ICT) sector, the contribution of culture to the economy has gradually been acknowledged, in particular with the development of the cultural industries. One way of measuring the economy of culture focuses on the value added to the economy. Also, we present several statistical indicators that quantify the dimension of the cultural-creative field, and identify an econometrical multiple model that reveals the relationship between some of them. In the article it is applied the analysis of variance method in order to identify the existence of significant differences between geographical and between linguistic-cultural European regions, according to the values of some of the statistical indicators.economy of culture, cultural-creative sector, value-added, cultural employment, cultural consumption expenditure, households' cultural expenditure, publishing turnover in manufacturing

Semi-topological K-theory for certain projective varieties

AbstractIn this paper we compute Lawson homology groups and semi-topological K-theory for certain threefolds and fourfolds. We consider smooth complex projective varieties whose zero cycles are supported on a proper subvariety. Rationally connected varieties are examples of such varieties. The computation makes use of different techniques of decomposition of the diagonal cycle, of the Bloch–Kato conjecture and of the spectral sequence relating morphic cohomology and semi-topological K-theory