ASSESSING THE PERFORMANCE OF EMERGING MARKET MUTUAL FUNDS IN CANADA

Emerging markets have received wide attention from investors around the globe because of their return potential and risk diversification. This research examines the selection and timing performance of Canadian mutual funds which invest in fixed-income and equity securities in emerging markets. We use (un)conditional two- and five-factor benchmark models that accommodate the dynamics of returns in emerging markets. We also adopt the cross-sectional bootstrap methodology to distinguish between ‘skill’ and ‘luck’ for individual funds. All the tests are conducted using a comprehensive data set of bond and equity emerging funds over the period of 1989-2011. The risk-adjusted measures of performance are estimated using the least squares method with the Newey-West adjustment for standard errors that are robust to conditional heteroskedasticity and autocorrelation. The performance statistics of the emerging funds before (after) management-related costs are insignificantly positive (significantly negative). They are sensitive to the chosen benchmark model and conditional information improves selection performance. The timing statistics are largely insignificant throughout the sample period and are not sensitive to the benchmark model. Evidence of timing and selecting abilities is obtained in a small number of funds which is not sensitive to the fees structure. We also find evidence that a majority of individual funds provide zero (very few provide positive) abnormal return before fees and a significantly negative return after fees. At the negative end of the tail of performance distribution, our resampling tests fail to reject the role of bad luck in the poor performance of funds and we conclude that most of them are merely ‘unlucky’.

Heidegger on the way of thinking

This thesis attempts to clarify what Heidegger meant by the term "thinking" (Denken), where this ^'meanr is submitted in the double sense: firstly, in the sense of what Heidegger intended by the use and exposition of this term that we find in his lecture series. Was Heisst Denken?, where Heidegger quickly makes it clear that this intention is to actually bring thinking on the way, viz. making provision for the leap into thinking, and where this intention was carried out with the employment of a specific guiding phrase. In the second sense, it is an attempt at clarifying the meaning of the term. But this is not to say that we are here simply out to see how Heidegger defines the word '*thinking." It is in fact precisely within such definitive discourse that thought dies out. It is not merely be a case of defining a word, because this enterprise would be just as shallow as much as it would be unworkable. It is for this reason that Heidegger decided to establish for himself the task, not merely of explaining thinking as something to be beheld at a distance, but rather of bringing thinking underway by means of his lecture, proclaiming that, "Only the leap into the river tells us what is swimming. The question 'What is called thinking?' can never be answered by proposing a definition of the concept thinking, and then diligently explaining what is contained in that definition." (WCT, 21) This being Heidegger's intention, in order to understand Heidegger in his treatment of the term thinking, it is clear that we must also undergo an experience with thinking. It is in this spirit that the present work was written so as to collaborate the two senses of what Heidegger meant by "thinking."

Implicit and explicit functions in the acquisition of a phonics rule in the word recognition of learning disabled and non learning disabled students /

One group of 12 non learning disabled students and two groups of 12 learning disabled students between the ges of 10 and 12 were measured on implicit and explicit knowledge cquisition. Students in each group implicitly cquired knowledge bout I of 2 vocabulary rules. The vocabulary rules governed the pronunciation of 2 types of pseudowords. After completing the implicit acquisition phase, all groups were administered a test of implicit knowledge. The non learning disabled group and I learning disabled group were then asked to verbalize the knowledge acquired during the initial phase. This was a test of explicit knowledge. All 3 groups were then given a postlest of implicit knowledge. This tcst was a measure of the effectiveness of the employment of the verbalization technique. Results indicate that implicit knowledge capabilities for both the learning disabled and non learning disabled groups were intact. However. there were significant differences between groups on explicit knowledge capabilities. This led to the conclusion that implicit functions show little individual differences, and that explicit functions are affected by ability difference. Furthermore, the employment of the verbalization technique significantly increased POStlest scores for learning disabled students. This suggested that the use of metacognitive techniques was a beneficial learning tool for learning disabled students.

Understanding the financial status of a group of high performance athletes

With the 2010 Vancouver Winter Olympic Games quickly approaching, there has been a heightened interest in the performance of Canadian athletes at international competitions (Duffy, 2007; Fidlin, 2005; Longley, 2006). Two significant documents outline Canada's goal to become the number one sporting nation at the 2010 Olympic Games, and improve Canada's performance at the 2008 Olympic Games: Own the Podium and Road to Excellence (Priestner Allinger & Allinger, 2004; Road to Excellence, 2006). These two documents represent heightened interest in the performance of our elite athletes, in conjunction with Canada's hosting status of the Vancouver 2010 Winter Olympic Games. The requirements to train and compete at the international level have become more demanding both in terms of financial resources and time commitment. The need to financially assist athletes with their training and competition costs has been an important topic of debate over the past decades (Beamish & Borowy, 1987; Gatehouse, 2004; Macintosh, 1996; Munro, 1970; Owens, 2004). Two sources of fiinding for high performance athletes in Canada are the Athlete Assistance Program (AAP) provided by the Federal Government and the Canadian Olympic Excellence Fund provided by the Canadian Olympic Committee. The importance of these fiinds for athletes has been discussed in various forums (Ekos, 1992, 1997, 2005; Priestner Allinger & Allinger, 2004; Thibault «& Babiak, 2005). However, alternative sources of funds for high performance athletes have never been the object of research. As such the purpose of this study was to describe a group of athlete applicants from the time period of November 2004 to April 2006, and to contextualize these applications within the development of the Charitable Fund for Athletes.

Best Practices of Sport For Development: A Case Study of An African Organization

Sport-for-development is the active practice of achieving social ideals through the use of sport and other traditional development programs. The purpose of this thesis was to evaluate SFD best practices from the context of an African organization development project. The case was a development organization in Zambia, Africa that was utilizing sport within its strategy. The data collection and analysis framed using Curado and Bontis (2007) MIC Matrix, the Sport For Development International Working Group’s (2007) best practices model, and B. Kidd’s (2011) Sport-in-Development Logic Model. The research supports that a SFD project is multi-faceted and should include the employment of strategic community programming on the basis of collaborative and integrative sport, health care and education. Further, the researcher found that the best practices include setting specific goals and objectives, as well as instituting regular monitoring and evaluation strategies

Memorandum - Report on operations of 1st Division against St. Mihiel Salient, 1918

A memorandum describing the days leading up to the Battle of Saint-Mihiel. The document describes 1. Statement of Operation, 2. Character of Terrain, 3. Initial Dispositions, 4. Suitability of Formations, 5. How such formations were, or could have been, best adapted to meet the changing conditions of combat and terrain, 6. Employment of Infantry Weapons, 7. Artillery Support, 8. Passage of Obstacles, 9. Passage of Lines, 10. Destruction of Opposition, 11. Fighting in Intermediate Zone, 12. Organization of Ground, 13. Liaison, 14. General Observations.

High-Spin and Emissive Molecular Materials: Synthesis and Characterization of New Polynuclear Ni(II) Complexes from the Use of Aromatic Schiff Bases as Bridging Ligands

The employment of the bridging/chelating Schiff bases, N-salicylidene-4-methyl-o-aminophenol (samphH2) and N-naphthalidene-2-amino-5-chlorobenzoic acid (nacbH2), in nickel cluster chemistry has afforded eight polynuclear Ni(II) complexes with new structural motifs, interesting magnetic and optical properties, and unexpected organic ligand transformations. In the present thesis, Chapter 1 deals with all the fundamental aspects of polynuclear metal complexes, molecular magnetism and optics, while research results are reported in Chapters 2 and 3. In the first project (Chapter 2), I investigated the coordination chemistry of the organic chelating/bridging ligand, N-salicylidene-4-methyl-o-aminophenol (samphH2). The general NiII/tBuCO2-/samphH2 reaction system afforded two new tetranuclear NiII clusters, namely [Ni4(samph)4(EtOH)4] (1) and [Ni4(samph)4(DMF)2] (2), with different structural motifs. Complex 1 possessed a cubane core while in complex 2 the four NiII ions were located at the four vertices of a defective dicubane. The nature of the organic solvent was found to be of pivotal importance, leading to compounds with the same nuclearity, but different structural topologies and magnetic properties. The second project, the results of which are summarized in Chapter 3, included the systematic study of a new optically-active Schiff base ligand, N-naphthalidene-2-amino-5-chlorobenzoic acid (nacbH2), in NiII cluster chemistry. Various reactions between NiX2 (X- = inorganic anions) and nacbH2 were performed under basic conditions to yield six new polynuclear NiII complexes, namely (NHEt3)[Ni12(nacb)12(H2O)4](ClO4) (3), (NHEt3)2[Ni5(nacb)4(L)(LH)2(MeOH)] (4), [Ni5(OH)2(nacb)4(DMF)4] (5), [Ni5(OMe)Cl(nacb)4(MeOH)3(MeCN)] (6), (NHEt3)2[Ni6(OH)2(nacb)6(H2O)4] (7), and [Ni6(nacb)6(H2O)3(MeOH)6] (8). The nature of the solvent, the inorganic anion, X-, and the organic base were all found to be of critical importance, leading to products with different structural topologies and nuclearities (i.e., {Ni5}, {Ni6} and {Ni12}). Magnetic studies on all synthesized complexes revealed an overall ferromagnetic behavior for complexes 4 and 8, with the remaining complexes being dominated by antiferromagnetic exchange interactions. In order to assess the optical efficiency of the organic ligand when bound to the metal centers, photoluminescence studies were performed on all synthesized compounds. Complexes 4 and 5 show strong emission in the visible region of the electromagnetic spectrum. Finally, the ligand nacbH2 allowed for some unexpected organic transformations to occur; for instance, the pentanuclear compound 5 comprises both nacb2- groups and a new organic chelate, namely the anion of 5-chloro-2-[(3-hydroxy-4-oxo-1,4-dihydronaphthalen-1-yl)amino]benzoic acid. In the last section of this thesis, an attempt to compare the NiII cluster chemistry of the N-naphthalidene-2-amino-5-chlorobenzoic acid ligand with that of the structurally similar but less bulky, N-salicylidene-2-amino-5-chlorobenzoic acid (sacbH2), was made.

Revisiting girlhood : defining a postmodern/popular feminist culture /

It has bee1l said that feminism is dead, but in fact feminism is alive in popular cultural fonlls that offer pleasure, style, fUll and advice, as well as political messages that are internalized alld continuously enacted in the lives of North American female youth. This thesis discusses popular feminism with respect to mainstream girls' cultural discourses in music alld magazine reading. Specifically this thesis examines the importance of Madonna, Gwen Stefani, and the Spice Girls, in addition to the numerous girl magazines available on the market today, such as Seventeen and YM. Focusing on the issue of the feminine versus feminist polarity and its importance to girls' culture, this thesis attempts to demonstrate how popular feminism can be used as a mode of empowerment and illustrates the mode of consumption of popular feminist texts that frames female selfimage, attitude, behaviour and speech. Through the employment of popular feminist theories and a discourse alld semiotic analysis of musical lyrics, performance and style, in addition to magazine reading and advertisements, this thesis highlights the use of active media reading and being by girls to gaill an understanding with regards to social positioning and postmodern political identity. More fundamentally, this thesis questions how popular feminism disables, questions and critiques popular ideologies ill a patriarchal society.

Seagram Museum Collection

The Seagram Museum was opened on May 16th, 1984 by the Honourable William G. Davis, Premier of Ontario. The museum was devoted to the history and technology of the wine and spirit industry. The museum focused on wine-making and distillation, as well as barrel-making and cork manufacturing. The museum was located adjacent to the Seagram Distillery in Waterloo, Ontario. In 1997, the museum closed due to lack of funds.

Polynuclear Ni(II) Complexes with Schiff Bases as Bridging Ligands: A Molecular Approach to Nanoscience

The initial employment of N-salicylidene-2-amino-5-chlorobenzoic acid (sacbH2) as bridging/chelating ligand in metal cluster chemistry has provided access to five new polynuclear NiII complexes with large nuclearities, unprecedented metal core topologies, and interesting magnetic properties. The obtained results are presented in two projects. The first project includes the investigation of the general Ni2+/RCO2-/sacbH2 reaction system (where R- = CH3-, But-, ButCH2-) in which the nature of the carboxylic acid was found to be of crucial importance, affecting enormously the nuclearity of the resulting complexes. The second project deals with the study of the general Ni2+/X-/sacbH2 reaction system (where X- = inorganic anions) under basic conditions, yielding new cluster compounds with molecular chain-like structures and ferromagnetic exchange interactions between the metal centers.