Predicting the performance of equity anomalies in frontier emerging markets: a Markov switching model approach

Equity anomalies in frontier markets appear and disappear over time. This article aims to demonstrate the predictability of which of these transient anomalies will be profitable using a Markov switching model. To do so, we examine 140 equity anomalies identified in the literature using a unique sample of over 3,600 stocks from 23 frontier equity markets between 1997 and 2016. The application of a Markov switching model reveals that the time-series pattern of expected returns is dependent upon the type of anomaly; some anomalies become unprofitable over time whereas profitability increases in tandem with the development of a specific stock market for other types of anomalies. Results further indicate that forecasts of the next month’s return obtained from this model can translate into profitable investment strategies. We find that an anomaly selection strategy that relies on the model produces abnormal returns and outperforms a naïve benchmark that considers all the anomalies. We go onto demonstrate that our results are robust

Is Investing in Companies Manufacturing Solar Components a Lucrative Business? A Decision Tree Based Analysis

In an era of increasing energy production from renewable sources, the demand for components for renewable energy systems has dramatically increased. Consequently, managers and investors are interested in knowing whether a company associated with the semiconductor and related device manufacturing sector, especially the photovoltaic (PV) systems manufacturers, is a money-making business. We apply a new approach that extends prior research by applying decision trees (DTs) to identify ratios (i.e., indicators), which discriminate between companies within the sector that do (designated as “green”) and do not (“red”) produce elements of PV systems. Our results indicate that on the basis of selected ratios, green companies can be distinguished from the red companies without an in-depth analysis of the product portfolio. We also find that green companies, especially operating in China are characterized by lower financial performance, thus providing a negative (and unexpected) answer to the question posed in the title

Nurses\u27 Alumnae Association Bulletin, May 1960

Accreditation of Programs in Nursing Alumnae Meetings, 1959 Committee Reports Greetings from the President Highlights from first issue of Alumnae Bulletin Living in the new nurses residence Lost Members Marriages Necrology New Arrivals Notices Personal Items of Interest Report of the School of Nursing and Nursing Services Staff Nurses Association Student Activities Year of tremendous growth and expansio

Nurses\u27 Alumnae Association Bulletin, April 1961

Alumnae Meetings 1960 Social Committee Clara Melville Scholarship Fund Bulletin Committee Private Duty Nurse\u27s Section Report of the School of Nursing and Nursing Service Staff Nurses Association Student Activities Personal Items of Interest Expansion of Jefferson Artificial Kidney Unit Medical Work in the Congo Marriages New Arrivals Necrology Annual Giving Fun

Nurses\u27 Alumnae Association Bulletin - Volume 18 Number 1

Alumnae Notes Central Dressing Room Committee Reports Digest of Alumnae Association Meetings Graduation Awards - 1952 Greetings from Miss Childs Greetings from the President Marriages Modern Trends in Orthopaedic Surgery Necrology New Arrivals Physical Advances at Jefferson Hospital - 1953 Staff Activities - 1952-1953 Student Activities The Artificial Heart Lung Machin

Nurses\u27 Alumnae Association Bulletin, April 1962

Staff Nurses Association Alumnae Meetings 1961 Social Committee Clara Melville Scholarship Fund Ways and Means Report Cook Book Report Bulletin Committee Private Duty Nurse\u27s Section Hospital Report and Nursing Service Federal Nursing Service Practice of Nursing Report of Student Council Activities Medical Work in Ghan

Impact of plant-based diet on lipid risk factors for atherosclerosis

Background: The aim of the study was to investigate the effect of a vegan diet on the serum lipid profile with particular regard to the parameters characterizing the high-density lipoprotein (HDL) fractions in subjects without subclinical atherosclerosis, measured by carotid Doppler ultrasonography. Methods and Results: Forty-two 23 to 38 year old subjects (21 omnivores and 21 vegans) participated in the study. Compared to the omnivores, the vegan subjects were characterized by lower parameters of lipid profile: total cholesterol (p < 0.001), low-density lipoprotein (LDL)-cholesterol (p < 0.001), non-HDL-cholesterol (p < 0.001), apolipoprotein B (apoB) (p < 0.001) and phospholipids (p < 0.01). Concentration of HDL-cholesterol was apparently similar between groups. Furthermore, the parameters which characterize HDL particles (con­centration of apolipoproteins AI [apoAI] and AII, HDL-phospholipids, LpAI fraction and pre-b1-HDL fraction) were not significantly different between omnivore and vegan subjects. The apoB/apoAI ratio in vegans was lower than in omnivores (p < 0.01). There was no difference between serum concentration of triacylglycerols between omnivores and vegans. The activity of paraoxonase-1 and 8-iso-prostaglandin F2a concentration were also not different between the study groups. Conclusions: We suggest that a vegan diet may have a beneficial effect on serum lipid profile and cardiovascular protection, but it is not associated with changes in HDL composition