A vast literature focuses on the predictability of U.S. and international stock returns using macroe-
conomic variables, such as the short government interest rate or the yield spread between defaultable
and government bonds. For instance, Ferson and Harvey (1993) nd that returns on international
stock indexes are predictable using macroeconomic indicators as conditioning variables. More
strikingly, Ferson and Harvey (1999) nd that broad economic variables explain the cross-sectional
variation in U.S. individual stock returns better than the Fama and French (1993) empirical factors.
Despite the U.S. armed forces’ historical role as a model for racial integration and decades of Department of Defense (DoD) efforts to promote racial and ethnic diversity, many groups are still underrepresented within the department, especially among DoD’s active duty and civilian leadership. This is a particularly important issue for DoD because many military leaders believe that maintaining a diverse workforce is critical for the department’s national security mission. This report discusses the initial steps that DoD should take in developing a department-wide plan to achie...
Module 8 - Options for funding ICT for development. This module discusses these alternative funding options for ICT for development (ICTD) and e-government projects. Public-private partnerships (PPPs) are highlighted as a particularly useful funding option for ICT-based services and e-government initiatives in developing countries.
It may have already occurred to you that this "toughest job you'll ever love seems almost
impossible. Look at some of the obstacles you may be facing. Your students are numerous;
many may be older than you. Textbooks are scarce, and again, many may be older than you.
The physical conditions are austere, with a tin roof that creaks as the temperature rises and
obliterates all other sound when the rains come. Pictures and posters disappear from the
classroom walls. Desks are too few. The blackboard has been worn to a light grey and chalk
The emergence of fixed cinemas coincided which a huge
growth phase in the business in general; film production increased
greatly, and film distribution developed into a special activity, often
managed by large film producers. However, until about 1914, besides the
cinemas, films also continued to be combined with live entertainment in
vaudeville and other theatres (Musser 1990; Allen 1980).
We can thus place the take-off of the cinema industry between
1905 and 1907. In these years it developed its own retail outlets and did
not depend exclusively on theatres and travelling showmen.
Our results have important implications for the performance of the mutual fund industry.
From an overall perspective, we observe more frequently funds with negative
rather than positive performance. However, the performance of the industry as a whole
is not so bad because about 80 percent of the funds produce zero alphas. In fact, the
negative average performance documented in the previous literature is not due to the
majority of funds but is only caused by one fifth of the funds.
To derive our empirical results, we obtain a sample of equity SRI funds from the Social
Investment Forum for the period 1997-2005 and merge this sample with the CRSP Survivor
Bias Free US Mutual Fund Database. Our results indicate that the SRI constraint does not
reduce funds' before-fee performance, measured using the four-factor alpha of Carhart (1997).
On the contrary, SRI funds outperform comparable conventional funds by a substantial 0.96% to
1.83% per year before expenses.
There is a need to expand the skill sets among
EC staff, both at HQ and Delegations. Better under-
standing of some key analytical tools is required,
including how to engage in (and interpret) the results
of policy, sector and institutional analysis.
Developing a better understanding of partner govern-
ment’s planning, budgeting and financial manage-
ment systems is also critical.
All information required by the contract that is necessary to document acceptable performance of
the work will be maintained in an organized manner and available electronically, daily, to
WSDOT. CQA inspection reports and material sampling and testing results shall be submitted to
WSDOT in electronic format within 24 hours following the inspection or test. Hard copy format
of these reports and results will be available upon request by WSDOT.
Like so many organizations is today’s global economy, Booz Allen
Hamilton requires leadership that is diverse in its thinking, strong
in business acumen and open to new ideas and opportunities.
Founded in 1914, Booz Allen Hamilton is a strategy and technology
consulting firm with more than 16,000 staff located on six continents.
We have experienced tremendous growth, averaging 20
percent per year, over the past seven years. This growth has stretched
our current leaders and created new challenges for developing future
In each round, we looked for validation that the notice provided enough of a context, elicited
comprehension of its purpose, and allowed for the ability to compare sharing practices. The
interviews had two parts, one unstructured and one structured. In the unstructured portion of
the interview, we asked participants to talk aloud about what they were reading or looking at
and to talk simultaneously about their reactions to each part of the notice.
Our research provided significant data that allowed us to gain insight and discern patterns
related to participant reactions regarding notice clarity, comprehension, and comparison.
This was true across all our testing sessions.
A professional transcription service prepared typed transcripts for each interview based on
In addition, a notetaker used a structured log to record observations of each
testing session. The results were coded and entered into a database using Atlas.ti, a qualitative
research software package.
In 2007, the National Conference of State Legislatures Foundation for State
Legislatures joined with the NCSL Criminal Justice and Transportation programs
in an Auto Theft Prevention Partner’s Project. Like other Foundation for State
Legislatures’ projects, it was designed as a partnership between selected state
lawmakers, legislative staff and Foundation members. The work group assembled
for the project learned from federal, state and local government officials and the
insurance and auto industries to identify and discuss best practices....
When the filler is hard (usually 15 -20 mins) sand into shape using 40-60grit production paper. Power sanders
can speed up this part of the job but care must be taken not to remove too much of the filler, particularly if using
rotary sanding disks. Final shaping is best done with a flat sanding block with abrasive paper attached. Sand in
straight lines, changing direction regularly to avoid sanding low spots or grooves into the filler. For the same
reason never sand in a circular motion as this removes filler too quickly from the same spot. Once the filler...
Unmeasured confounders are factors that inﬂuencemortality and vary with time in amanner
that is similar to air pollution. These factors produce seasonal and long-termtrends inmortality
that can confound the relationship between mortality and air pollution. Inﬂuenza and respira-
tory infectionsmight reasonably be considered among themost important, usually unmeasured
or not readily available confounders which produce seasonal patterns in mortality.
The European Union plans to have its positioning, navigation, and timing (PNT) system, Galileo, in initial operation in 2008. As envisioned, Galileo will function and perform similarly to the U.S. Global Positioning System (GPS), the preeminent PNT system now in existence. Policy leaders and technical experts have been
Although EPA has examined some of the benefits and limitations of
pollutant trading since the early 19809, the agency has only recently
started to address the barriers to pollutant trading and to more actively
promote its wider use. As discussed above, the few trading projects in
existence were initiated by local communities searching for a more
cost-effective approach to achieve water quality goals. EPA’ s involvement
The study area is
located on an ecosystem that is of low carrying capacity and as such this has
necessitated excessive use of agro-chemicals to enhance productivity. The effects
from these practices is that the chemicals find their way into the lake through runoff
from the agricultural parcels of land. Because the land generally slopes towards the
lake. Poor tillage practices often result in soil erosion and the loose soil is carried
awash into the lake. All these result in increased eutrophication of the lake’s waters.
The first sketch of this fountain, created by Jens-Flemming
Sørensen, was drawn on a tablecloth at Galerie Asbæk in Copen-
hagen. The airport wanted a fountain, the artist came up with an
idea, and the dialogue and work began. The fountain is a good
example of how a work of art can fit into the hustle and bustle of
an airport without losing any of its originality and artistic concept.
The airport did not just want a fountain - but a fountain with a
function; a cosy corner to sit for a while and an obvious meeting
The basin and its three globes are cast in bronze and...
In shared-nothing database systems, data often needs to be moved whenever there is a join or an aggregation process
for which the data requires repartitioning across the segments. As a result, the interconnect serves as one of the most
critical components within Greenplum Database. Greenplum’s gNet interconnect (Figure 8m) optimizes the flow of
data to allow continuous pipelining of processing without blocking on all nodes of the system.