Embraces mutual

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  • A board’s role is to provide oversight, not to manage risks. Just as a board does not manage a fund’s investments or its business operations, it also does not manage the risks associated with those activities. Board oversight includes understanding the risk management processes employed by the adviser, asking questions where appropriate, and obtaining appropriate assurances that the processes are reasonably designed to manage and control the fund’s material risks.

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  • We focus on the dynamics of active management skills, and how an investor might optimally choose active funds during varying business conditions. Building on studies such as Avramov and Wermers (2006) and Moskowitz (2000), we allow for the possibility of time-varying mutual fund alphas and betas among active managers in Europe. Following Christopherson, et al. (1998) and Ferson and Schadt (1996), we model such time-variation using a publicly available set of conditioning state variables.

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  • Fees have not received much explicit attention in the literature on SRI mutual funds. However, several papers report average expense ratios for SRI and conventional funds (Statman, 2000; Bauer et al., 2005; Benson et al., 2006; Benson and Humphrey, 2008; Renneboog et al., 2008a). In line with our results, none of these papers find significant differences in fees between SRI and comparable conventional funds with the exception of Benson and Humphrey (2008), who report that the median expense ratio is significantly higher for conventional funds. ...

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  • However, part of this increase can be due to the inclusion of new lucky funds. As a consequence, the standard approach does not provide guidance on the location of funds with differential performance in the tails of the cross-sectional alpha distribution. For instance, suppose that the number of funds with negative estimated alphas increases by 50 as γ passes from 0.05 to 0.15. If all these 50 funds are lucky, we would conclude that the few funds with negative performance are located in the extreme left tail.

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  • In this paper, with a belief that a language model that embraces a larger context provides better prediction ability, we present two extensions to standard n-gram language models in statistical machine translation: a backward language model that augments the conventional forward language model, and a mutual information trigger model which captures long-distance dependencies that go beyond the scope of standard n-gram language models.

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  • Management is responsible for the identification, assessment, management and monitoring of risk, for developing, operating and monitoring the system of internal control and for providing assurance to the board that it has done so. Except where the board or a risk committee is expressly responsible for reviewing the effectiveness of the internal control and risk management systems, the audit committee should receive reports from management on the effectiveness of the systems they have established and the results of any testing carried out by internal and external auditors.

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  • The source of project ideas may come from a variety of sources, most importantly from prospective implementing partners (either partner governments, non-state actors or multi-lateral or regional development agencies). Local ownership of, and commitment to, potential projects is a key quality assessment criterion. Furthermore, project ideas should be drawn from the priorities and targets identified in the relevant Country Strategy Paper and National Indicative Programme.

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  • This difference is substantial and highly statistically significant in all specifications. These results are consistent with two different hypotheses. First, unobservable factors at the management company level could be associated with both the decision to specialize in SRI funds and higher fees and performance. In this case, socially responsible investing itself would not have any effect on performance or fees.

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  • With a simple gland through the United States history, it is easily seen that propaganda is no new strategy to persuade the common man or woman’s thoughts. During elections, during war or peace, propaganda has been used by businesses and our government. Politicians like Ike Eisenhower used cartoons to try and get him elected. The cartoon diverted people’s attention away from whether he was a good president or not. This nearly the same idea as having a popular person tell people that the product shown is great. They want people to think “Of if so and so uses that, it...

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  • Organisational Behaviour This unit helps managers to understand the dynamics of individual and group behaviour in organisations, and how different forms of organisational structure and leadership can influence that behaviour. It enhances managers’ ability to understand attitudes and to predict, explain and control behaviour in organisations. The unit links conceptual tools and experiential activities to understanding organisations and managing the change process.

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  • Once the committee has given a positive opinion on the FP, EuropeAID is responsible for the financing decision procedure. As a general rule, the Commis- sion adopts financing decisions by written proce- dure, or in exceptional circumstances by habilitation procedure. After approval of the FP by the Commission, EuropeAID prepares the Financing Agreement and takes responsibility for ensuring complete consistency between the Financing Proposal and the FA. The FA is based upon a model Financing Agreement, prepared by EuropeAID.

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  • The manager chose two people from her own department to work on the project. She also asked a programmer from data processing to join her team. They met, discussed the project, and decided upon a schedule and deadlines. Then the manager assigned her two employees specific responsibilities. One was asked to design reports that would meet the treasurer’s criteria. The other was asked to define file requirements and changes in input. The two were to meet periodically with the programmer to discuss program changes.

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  • Another kind of reductionism occurs with attempts to reduce percep- tion to brain processes or neural events (Ramachandran & Hirstein 1999). Evidently, the brain is necessary for perceptual processing. Yet, according to TSC, perceptual processes are constructed in real time in the interaction between agent and environment. As Harth (2004) remarks in discussing the relation between neurophysiology and art, a theory of artistic expression must take into account not only the human brain, but also the world at large.

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  • Another cultural difference frequently remarked on by Volunteers is amount of time spent in staff meetings. A former Volunteer in Ghana who later returned to Africa as a Peace Corps staff member, reminisced about his teaching days, saying: When I was in Ghana, I would rather have hat my tongue nailed to a tree than sit through any more staff meetings. Though I've come to realize that these meetings aren't inefficient or indecisive. What seemed to me repetitious and pointless was a finely tuned communication machine in action...

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  • Tham khảo sách 'error analysis of the written english essays of pakistani undergraduate students: a case study', ngoại ngữ, kỹ năng viết tiếng anh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả

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  • Sulfur trioxide irritates the mucous membranes of the respiratory tract. A concentration of 1 volume of SO3 in a million volumes of air (one part per million or 1 ppm) is enough to cause coughing and choking. Sulfur trioxide dissolves in water to form sulfuric acid, which is a strong acid capable of corroding or destroying many materials. Sulfur trioxide can absorb moisture from the atmosphere to form very fine droplets of sulfuric acid. Inhalation of these droplets can harm the respiratory system. Chronic exposure leads to a much greater likelihood of suffering from bronchitis.

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  • It is management’s, not the audit committee’s, responsibility to prepare complete and accurate financial statements and disclosures in accordance with financial reporting standards and applicable rules and regulations. However the audit committee should consider significant accounting policies, any changes to them and any significant estimates and judgements. The management should inform the audit committee of the methods used to account for significant or unusual transactions where the accounting treatment is open to different approaches.

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  • The Originator makes a copy of the design documents and applies the check print stamp (Checked Exhibit) for all persons involved in the checking process to sign- off. The stamp also includes the design package/submittal number and date, check print number, and signature of the Originator of the document with the date. If all the individuals involved in the checking process will have consistent roles on the entire package to be checked, a cover sheet may be added to the package. A single check print stamp is applied to the cover sheet, instead of each individual sheet in the...

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  • After the training phase, the table T can be used to generate syn- thetic data; given a key a,b,c it can return the likely x,y,z values of that key along with the probabilities. Equivalently, T can evaluate the probability that some value is correct. The neat thing about this is that the framework allows you to add your own machine- learning algorithms to this framework. This gives the machine- learning community a vehicle to make their technology accessible...

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  • In the Oracle Database family of products, there’s an edition to fit all business needs, providing the necessary foundation to successfully deliver more information with higher quality of service, and to efficiently manage change within the environment to deliver better value.

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