The performance and persistence of exchange-traded funds: evidence for iShares MSCI country-specific ETFs

The aim of this paper is to investigate the performance and persistence of 20 iShares MSCI country-specific exchange-traded funds (ETFs) in comparison with S&P 500 index over the period July 2001 to June 2006. There are several studies analysing mutual funds performance in past years, but very little is known about ETFs. In our analysis the Sharpe, Treynor and Sortino ratios are used as risk-adjusted performance measures. To evaluate performance persistence and therefore if there is any relationship among past performance and future performance, we apply to the Spearman Rank Correlation Coefficient and the Winner-loser Contingency Table. The main findings are at two levels. First, ETFs can beat the U.S. market index based on risk-adjusted performance measures. Second, there is evidence of ETFs performance persistence based on annual return.

Book Review Sharon L. Lohr Sampling: Design and Analysis

There is no abstract for this record.

The collection and analysis of pre-evacuation times derived from evacuation trials and their application to evacuation modelling

This paper presents data relating to occupant pre-evacuation times from university and hospital outpatient facilities. Although the two occupancies are entirely different, they do employ relatively similar procedures: members of staff sweep areas to encourage individuals to evacuate.However the manner in which the dependent population reacts to these procedures is quite different. In the hospital case, the patients only evacuated once a member of the nursing staff had instructed them to do so, while in the university evacuation, the students were less dependent upon the actions of the staff, with over 50% of them evacuating with no prior prompting. In addition, the student pre-evacuation time was found to be dependent on their level of engagement in various activities.

Performance and reliability of flexible substrates when subjected to lead-free processing

The use of flexible substrates is growing in many applications such as computer peripherals, hand held devices, telecommunications, automotive, aerospace, etc. The drive to adopt flexible circuits is due to their ability to reduce size, weight, assembly time and cost of the final product.They also accommodate flexibility by allowing relative movement between component parts and provide a route for three dimensional packaging. This paper will describe some of the current research results from the Flex-No-Lead project, a European Commission sponsored research program. The principle aim of this project is to investigate the processing, performance, and reliability of flexible substrates when subjected to new environmentally friendly, lead-free soldering technologies. This paper will discuss the impact of specific design variables on performance and reliability. In particular the paper will focus on copper track designs, substrate material, dielectric material and solder-mask defined joints.

Collection and analysis of pre-evacuation time data collected from evacuation trials conducted in library facilities in Brazil

Two evacuation trials were conducted within Brazilian library facilities by FSEG staff in January 2005. These trials represent one of the first such trials conducted in Brazil. The purpose of these evacuation trials was to collect pre-evacuation time data from a population with a cultural background different to that found in western Europe. In total some 34 pre-evacuation times were collected from the experiments and these ranged from 5 to 98 seconds with a mean pre-evacuation time of 46.7 seconds

Observations and analysis of a 63-year-old reinforced concrete promenade railing exposed to the North Sea

Despite being exposed to the harsh sea-spray environment of the North Sea at Arbroath, Scotland, for over 63 years, many of the reinforced concrete precast beam elements of the 1.5 km long promenade railing are still in very good condition and show little evidence of reinforcement corrosion. In contrast, railing replacements constructed in about 1968 and in 1993 are almost all badly cracked as a result of extensive corrosion of the longitudinal reinforcement. This is despite the newer concrete appearing to be of better quality than the 1943 concrete. Statistics for maximum crack width for each of the three populations, based on measurements made in 2004 and in 2006, are presented. In situ and laboratory measurements show that the 1943 concrete appears to have high permeability but it also shows high electrical resistivity. Chloride penetration measurements show the 1943 and 1993 concretes to have similar chloride profiles and similar chloride concentrations at the reinforcement bars. This is inconsistent with the 1943 beams showing much less reinforcement corrosion than their later replacements and casts doubt on the conventional practice for durability design focusing on reducing concrete permeability through denser concretes or greater cover.