The principal in the high school: effectiveness in a climate of sharing

This pilot study developed a climate instrument which was administered in a sample of high schools in one board of education. Several tests were conducted i n order to determine the reliability and internal consistency of the instrument . The ability of the instrument to identify the demographic differences of school and gender was also tested. The relationship between leadership styles and an effective use of authority in creating a productive and rewarding work environment was the f ocus of t his study. Attitudes to leadership and perceived school morale were investigated in a demographic study, a climate survey, as well as a body of related literature. In light of the empirical research, an attempt was made to determine the extent to which the authority figure's behaviour and adopted leadership style contributed to a positive school climate : one in which t eachers were motivated to achieve to t he best of their abilities by way of their commitment and service. The tone of authority assumed by t he leader not only shapes the mood of the school environment but ultimately determines the efficiency and morale of t he teaching staff.

Pen and sunlight sketches of scenery reached by the Grand Trunk Railway system and connections with summer routes and fares to principal points : including Niagara Falls, Thousand Islands, Rapids of the St. Lawrence, Montreal, Quebec, Parry Sound, Georgian Bay, Muskoka Lakes, Adirondacks, Lake St. John, Mackinac Island, Midland District Lakes, the White Mountains, the Suquenay River, Rangeley Lakes and the sea-shore.--

At head of title: "Great tourist route of America".

Dynamic Performance Evaluation of Canadian Fixed-Income Funds using Markov Regime Switching Models

This thesis examines the performance of Canadian fixed-income mutual funds in the context of an unobservable market factor that affects mutual fund returns. We use various selection and timing models augmented with univariate and multivariate regime-switching structures. These models assume a joint distribution of an unobservable latent variable and fund returns. The fund sample comprises six Canadian value-weighted portfolios with different investing objectives from 1980 to 2011. These are the Canadian fixed-income funds, the Canadian inflation protected fixed-income funds, the Canadian long-term fixed-income funds, the Canadian money market funds, the Canadian short-term fixed-income funds and the high yield fixed-income funds. We find strong evidence that more than one state variable is necessary to explain the dynamics of the returns on Canadian fixed-income funds. For instance, Canadian fixed-income funds clearly show that there are two regimes that can be identified with a turning point during the mid-eighties. This structural break corresponds to an increase in the Canadian bond index from its low values in the early 1980s to its current high values. Other fixed-income funds results show latent state variables that mimic the behaviour of the general economic activity. Generally, we report that Canadian bond fund alphas are negative. In other words, fund managers do not add value through their selection abilities. We find evidence that Canadian fixed-income fund portfolio managers are successful market timers who shift portfolio weights between risky and riskless financial assets according to expected market conditions. Conversely, Canadian inflation protected funds, Canadian long-term fixed-income funds and Canadian money market funds have no market timing ability. We conclude that these managers generally do not have positive performance by actively managing their portfolios. We also report that the Canadian fixed-income fund portfolios perform asymmetrically under different economic regimes. In particular, these portfolio managers demonstrate poorer selection skills during recessions. Finally, we demonstrate that the multivariate regime-switching model is superior to univariate models given the dynamic market conditions and the correlation between fund portfolios.