Margin requirements and volatility : evidence from Canadian stocks

Margin policy is used by regulators for the purpose of inhibiting exceSSIve volatility and stabilizing the stock market in the long run. The effect of this policy on the stock market is widely tested empirically. However, most prior studies are limited in the sense that they investigate the margin requirement for the overall stock market rather than for individual stocks, and the time periods examined are confined to the pre-1974 period as no change in the margin requirement occurred post-1974 in the U.S. This thesis intends to address the above limitations by providing a direct examination of the effect of margin requirement on return, volume, and volatility of individual companies and by using more recent data in the Canadian stock market. Using the methodologies of variance ratio test and event study with conditional volatility (EGARCH) model, we find no convincing evidence that change in margin requirement affects subsequent stock return volatility. We also find similar results for returns and trading volume. These empirical findings lead us to conclude that the use of margin policy by regulators fails to achieve the goal of inhibiting speculating activities and stabilizing volatility.

Adenovirus-based exogenous gene expression in mammalian cells

Thesis (Ph.D.)--Brock University, 2010.

John Burtniak Postcard Collection

326 images (b&w and col.) mounted on 54 poster boards ; 64 x 36 cm or smaller. 4 compact disc

Anne Taylor Fonds

Anne Taylor was active in the St. Catharines arts community. She is married to Dr. Robert R. Taylor, a retired Brock University history professor. The fonds reflects her involvement in various local heritage and arts organizations. Heritage St. Catharines was active in raising public awareness of the value of heritage properties such as the May-Clark-Seiler house and the Port Dalhousie carousel. Anne Taylor currently resides in British Columbia.

Clendennan to Benson Bargain and Sale, 1846 [photocopy]

In 1846 Levy Clendennan, a school master sold part of lot 18, sixth concession (one and three-quarter acre) to James Rae Benson, a merchant. The land was situated at the corner of James and Academy (now Church St.) streets. The existing Clendennan-Benson home would later be repurposed to serve as the location for the first city hall for the city of St. Catharines, Ont. The home was demolished in the 1920s when the city outgrew this location. Today the current city hall, facing Church Street, occupies this location.

David Dorey Fonds, 1983-1985

David Dorey, a Brock University student in 1993, was past president of the Unemployed Action Alliance. In 1993 he donated the fonds to Brock University Archives. The Unemployed Action Alliance was organized in 1983 with support from the St. Catharines and District Labour Council. The aims of the group were to unify the interests of unemployed people for greater benefit in finding employment, retraining and lobbying the provincial government.

Edward Mirynech fonds, 1913-1914, 1946, 1952-1957, 1959-1960, 1965-1982, n.d.

Edward Mirynech joined the faculty at Brock University in 1964 as assistant professor of Geology. Edward Mirynech, the son of John and Katherine Mirynech, grew up in St. Catharines, attended Connaught Public School and received his formal education at the University of Toronto. Dr. Mirynech played several critical roles in the early development of the University. In addition to teaching, Dr. Mirynech was also the acting director of the athletics department, a coach for many of the early rowing, hockey and basketball teams and served the University as marshall for the sod turning ceremony for the new DeCew campus in 1965. Dr. Mirynech was instrumental in the founding of the physical education, geography and geological sciences programs. He served as acting chairman in 1968 when the department of geological sciences enrolled its first students. Part of the unique teaching program was the annual field trips to locations such as the Belleville area, extended summer teaching programs held in Trinidad-Tobago and the following year in Iceland. In 1972, the first graduation ceremony ever to be held in the Arctic, at Pond Inlet, NWT, made national news. Three geology students, on a study trip to the Arctic, received their degrees during a special ceremony. Dr. Mirynech was among the faculty team in Pond Inlet, NWT, representing Brock University. Dr. Mirynech retired from teaching in 1985, and passed away in 2004.

Gideon Sundback fonds, 1942, 1952, 1985-1986, 1991, 2004, n.d.

Gideon Sundback was born in Stockholm, Sweden in 1880. He was educated as an engineer and settled in the United States in 1905. While working for the Universal Fastener Company, New Jersey in 1913 he developed and patented a “separable fastener”, which improved on an earlier version of what today is known as the zipper. He later moved his family to Meadville, Pennsylvania and sought a Canadian location for the production of his new invention. He settled on St. Catharines as it was an easy commute from his Pennsylvania home and opened The Lightning Fastener Company on Niagara Street. Sundback died on June 21, 1954 and is interred in Meadville, Pennsylvania. The plant continued to operate, but with increased foreign competition the manufacture of the zipper declined. The plant closed in 1981. Source: The St. Catharines Standard, July 3, 2004 Harold Fox was a noted lawyer, academic, businessman, author and a leading authority on intellectual property. He was engaged by Gideon Sunback and the Lightening Fastening Company to combat patent infringements by Colonial Fastener in the 1930s. The relationship continued when Fox was asked to become the managing director of the company, which he did until 1949. Fox lived in St. Catharines at his home “Foxcroft” until his death in 1969. Source: http://thefoxfund.com/harold.htm (November 2, 2009)

Horton Family collection, 1912, 1919, 1924, n.d.

Dr. William Hamilton Merritt, Jr. was born in 1865 and died in 1924. He was the son of Jedidiah Prendergast Merritt and Emily Prescott, grandson of William Hamilton Merritt. In 1892 he was married to Maud Claudman Hudson of Memphis, Tennessee and had a daughter and a son. During World War I he commanded the 14th battery at Flanders and after becoming ill served as part of the 9th Canadian Field Ambulance, 3rd Canadian Division, serving at a military hospital in Orpington, Kent, England and in 1917 at a military hospital in France. Dr. Merritt served as alderman and mayor for the city of St. Catharines, Ont. He was also a vice-president of the Imperial Bank of Canada, and served on the board of the Niagara Falls Suspension Bridge. A memorial service was held in St. Thomas Church, St. Catharines, Ont. on April 24, 1924.

Niagara Lodges of the Loyal Orange Association of British America

The Loyal Orange Association of British America is a Protestant fraternal society. The Loyal Orange Association originated in Ulster, Ireland during the late eighteenth century. Its purpose was to promote Protestant rights and privileges. The association was exclusively Protestant, fraternal, democratic, and benevolent. Orange principles were brought to Upper Canada by Protestant Irish settlers after 1815. The first Canadian Orange Lodge was formally established in Brockville, Leeds County, 1830. By the late 19th and early 20th century, the Loyal Orange Association of British North America had gained considerable popularity and political influence. Many prominent politicians, including several prime ministers, were members. Orangemen were particularly concerned with issues such as separate school funding, language rights, immigration, religious freedom and conscription. Further, they demanded the execution of Louis Riel and opposed the Jesuits Estates settlement. Administrative sketch courtesy Archives of Ontario.

Grantham Township Records Collection

Item one is a minute book for Grantham Township, Ontario. It records the proceedings of meetings from 1818-1854 and the names of parish and town officers from 1818 to 1842. Names include: Chisholm, Ball, Steele, TenBroeck, Shipman, Laraway, McKerney, Adams, Pawling, Merritt, Rolls, Robertson, Lampman, Phelps, Darling. Also notes the laws agreed upon for the period - mainly dealing with livestock. Item two is a report and evidence of boundary line disputes in the Township of Grantham. Includes affidavits from witnesses to the boundary dispute and a report to the Honourable the Commissioner of Crown Lands Quebec. The affadavits were recorded in 1844, and transcribed into the folio in 1852. Lewis A. Ball was the commissioner before whom the affadavits were sworn and duly recorded. Includes field notes by Frederic F. Passmore, Provincial land surveyor. The boundary lines in dispute were 1. between the 2nd and 3rd Concessions, from Lot no. 1 to Lot no. 5, 2. between the 4th and 5th concessions, from lot no. 4 to lot no. 5 and 3. between lots 14 in the 9th and 10th concession of the Township of Grantham.

Margaret Glassford fonds, 1941, 1951, 1961, 1971, 1973-1975, 1977-1984, 1986-2000, 2002, 2005, n.d.

Margaret was an only child who grew up on a farm just east of Cayuga, Ontario. After high school, Margaret attended Hamilton Teacher’s College and took a position with Grantham Public School Board and taught at Power Glen school. Margaret was married in 1962 and had 2 children, a daughter and a son in 1963 and 1964, respectively. Margaret left her teaching job to raise her children. Margaret was very creative and artistic and during this time, focused on these talents, which included painting, graphic arts and sewing. Margaret was also an accomplished pianist. In her 40’s, Margaret enrolled at Brock University and in 1989 obtained a Honors Bachelor of Arts degree with First-Class Honors in Sociology. In partial fulfillment of her Honors B.A. she completed her thesis that is entitled ; The State and Liberal Feminism: The Ontario Government’s “Business Ownership For Women Program”. While living in St. Catharines, Margaret attended York University and graduated with a Master of Arts in Sociology in 1992 where her studies focused on women’s issues. Margaret received a scholarship from York University and was a teaching assistant. Margaret stayed on at York University and completed her academic requirements for a Doctorate degree in Sociology. Her dissertation was on self employed women in St. Catharines at the beginning of WWII -- not the” Rosie the Riveters” who took over jobs formerly held by men who had to go off to fight World War II, but women who ran their own businesses when that was still unusual. Margaret completed the research for her thesis but did not complete her written thesis as she made a difficult decision to put her academic work on hold in the mid-1990’s and she returned to her love for the arts, although she always remained a voracious reader and interested in women’s issues. In the last decade of her life, she took up quilting with a passion, which she referred to as fabric arts. Margaret loved colour and being non-traditional. Margaret had been a quilting instructor at the Flemington College for Fine Arts in Haliburton. In 1997, Margaret founded Project Smile in the St. Catharines region, a non-profit group who make quilts for children with cancer. Margaret was also the President of the Niagara Heritage Quilters’ Guild in 2006-2007 and was very involved with the Local Council of Women.

I.O.D.E. Earl Mountbatten Chapter Fonds, 1945-2007

The I.O.D.E. as we currently know it today was founded in 1900 by Margaret Polson Murray of Montreal, who recognized a need for loyal support of Canadians departing to fight in the Boer War with the Empire forces in South Africa. She encouraged the formation of a federation of women to promote patriotism, loyalty and service to others. The first chapter was formed in Fredericton, New Brunswick on January 15th 1900. Primary chapters were formed in quick succession across Canada. In 1901, Edith Boulton Nordheimer was elected the first national president, the location of the head office became Toronto, Ontario and the federation was incorporated as Imperial Order Daughters of the Empire and Children of the Empire Junior Branch. The Earl Mountbatten Chapter was formed in 1947 and is continuing to be a functioning chapter at the time of writing this finding aid. During the 1970’s the name I.O.D.E. was officially adopted. It is a federally chartered not-for-profit, charitable organization. Structured to report under the jurisdiction of the National chapter are the Provincial chapters, the Municipal chapters and the Primary chapters. The I.O.D.E. is associated with the Victory League in England and Daughters of the British Empire in the United States and it is proud of its heritage and traditions. Queen Elizabeth II is the current patron of the organization and although chapters sometimes disband there are always new chapters forming, including e-chapters that meet through 21st century electronics.

I.O.D.E. Second Dragoons Chapter Fonds, 1967-1983

The I.O.D.E. as we currently know it today was founded in 1900 by Margaret Polson Murray of Montreal, who recognized a need for loyal support of Canadians departing to fight in the Boer War with the Empire RG310 page 2 forces in South Africa. She encouraged the formation of a federation of women to promote patriotism, loyalty and service to others. The first chapter was formed in Fredericton, New Brunswick on January 15th 1900. Primary chapters were formed in quick succession across Canada. In 1901, Edith Boulton Nordheimer was elected the first national president, the location of the head office became Toronto, Ontario and the federation was incorporated as Imperial Order Daughters of the Empire and Children of the Empire Junior Branch. The Second Dragoons Chapter was formed in 1933 and was disbanded in 1983, which was their 50th anniversary. During the 1970’s the name I.O.D.E. was officially adopted. It is a federally chartered not-for-profit, charitable organization. Structured to report under the jurisdiction of the National chapter are the Provincial chapters, the Municipal chapters and the Primary chapters. The I.O.D.E. is associated with the Victory League in England and Daughters of the British Empire in the United States and it is proud of its heritage and traditions. Queen Elizabeth II is the current patron of the organization and although chapters sometimes disband there are always new chapters forming, including e-chapters that meet through 21st century electronics

I.O.D.E. Duke of Kent Chapter Fonds, 1934-1980

The I.O.D.E. as we currently know it today was founded in 1900 by Margaret Polson Murray of Montreal, who recognized a need for loyal support of Canadians departing to fight in the Boer War with the Empire forces in South Africa. She encouraged the formation of a federation of women to promote patriotism, loyalty and service to others. The first chapter was formed in Fredericton, New Brunswick on January 15th 1900. Primary chapters were formed in quick succession across Canada. In 1901, Edith Boulton Nordheimer was elected the first national president, the location of the head office became Toronto, Ontario and the federation was incorporated as Imperial Order Daughters of the Empire and Children of the Empire Junior Branch. The Duke of Kent Chapter was formed in 1934 and was disbanded in 1980. During the 1970’s the name I.O.D.E. was officially adopted. It is a federally chartered not-for-profit, charitable organization. Structured to report under the jurisdiction of the National chapter are the Provincial chapters, the Municipal chapters and the Primary chapters. The I.O.D.E. is associated with the Victory League in England and Daughters of the British Empire in the United States and it is proud of its heritage and traditions. Queen Elizabeth II is the current patron of the organization and although chapters sometimes disband there are always new chapters forming, including e-chapters that meet through 21st century electronics.