Canadian investors and the discount on closed-end funds

Small investors' sentiment has been proposed by behaviouralists to explain the existence and behavior of discount on closed-end funds (CEFD). The empirical tests of this sentiment hypothesis so far provide equivocal results. Besides, most of out-of-sample tests outside U.S. are not robust in the sense that they fail to well control other firm characteristics and risk factors that may explain stock return and to provide a formal cross-sectional test of the link between CEFD and stock return. This thesis explores the role of CEFD in asset pricing and further validates CEFD as a sentiment proxy in Canadian context and augments the extant studies by examining the redemption feature inherent in Canadian closed-end funds and by enhancing the robustness of the empirical tests. Our empirical results document differential behaviors in discounts between redeemable funds and non-redeemable funds. However, we don't find supportive evidence of CEFD as a priced factor. Specifically, the stocks with different exposures to CEFD fail to provide significantly different average return. Nor does CEFD provide significant incremental explanatory power, after controlling other well-known firm characteristics and risk factors, in cross-sectional as well as time-series variation of stock return. This evidence, together with the findings from our direct test of CEFD as a sentiment index, suggests that CEFD, even the discount on traditional non-redeemable closed-end funds, is unlikely to be driven by elusive sentiment in Canada.

Religious Diversity and Teacher Education: Experiences and Perspectives of Muslim Women as Teacher Candidates in Pre-service Programs

This qualitative research project explores the insights of Muslim women as teacher candidates completing pre-service programs in Ontario. Ontario schools cater to students from many ethnic, cultural and religious groups, including a sizable Muslim population. Muslims make up 4.6% of Ontario’s population with the highest concentration of Muslims in the GTA (Statistics Canada, 2011). The Muslim population in Ontario is of a significant enough number that, in a post 9/11 world, it has prompted discussion of how to integrate Muslim populations in Canada. In this research, I explore how Islamophobic sentiment is experienced in Ontario-based teacher education programs. I use Critical Race Theory (CRT) and Critical Race Feminism (CRF) to analyse and deconstruct experiences of female Muslim teacher candidates in pre-service programs. I discuss how Muslims are a racialized group that experience racism as discussed by critical race literature; however, there is a marked difference between how Muslim men and women experience gendered Islamophobia. By using in-depth research-based interviews, I explore how Muslim women perceived diversity, education, accommodations and Islamophobia in pre-service programs. This study adds to the current literature on critical race theory and anti-racist practices in education. Furthermore, this study adds to the voice of Muslim women in the discussion of diversity and inclusivity in educational institutions.

Compendium of Festive and Seasonable Stingo Recipes

A recipe booklet with the full title "Compendium of Festive and Seasonable Stingo recipes for the Delectation of the Nobility and Gentry, our esteemed Patrons". The inside sentiment reads "Presented to you with Good wishes all Seasonable Cheer by Watneys Brewers of the Very Best Beers at Stag Brewery, Pimlico, London, S.W.I"