887 resultados para Market efficiency hypothesis
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Esta dissertação tem o objetivo geral de analisar o protagonismo que o Instituto Ayrton Senna (organização do Terceiro Setor) tem alcançado na escola pública ao funcionar como braço operativo do empresariado com responsabilidade social na difusão da concepção burguesa de mundo, num contexto histórico do Neoliberalismo da Terceira Via. Esta penetração dos valores empresariais na escola pública se dá através do consenso em torno da falência do Estado na prestação do serviço público que, por sua vez, deveria ser prestado por organizações da sociedade civil (ONGs) em função de sua suposta maior eficiência (pautada nos moldes do mercado). O objetivo específico é identificar como o Instituto Ayrton Senna (IAS), através da concepção de cidadania burguesa pode ressignificar o papel social da escola pública no município do Rio de Janeiro através do desenvolvimento do Programa Acelera Brasil (PAB). A hipótese central é que o IAS, ao aplicar o PAB, ressignifica o papel social da escola pública, atuando como operador do capital ao incorporar a lógica fabril nas escolas públicas, (identificação da qualidade na educação com certificação e treinamento para a realização de avaliações como condição de cidadania) associada a uma face mais humana do capital, introduzindo elementos da noção de capital social, que insere, entre outros, uma relação harmoniosa entre o Estado, a sociedade civil (entendida como Terceiro Setor) e o mercado.
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Over 230 metric tons of octopus is harvested as bycatch annually in Alaskan trawl, long-line, and pot fisheries. An expanding market has fostered interest in the development of a directed fishery for North Pacific giant octopus (Enteroctopus dofleini). To investigate the potential for fishery development we examined the efficacy of four different pot types for capture of this species. During two surveys in Kachemak Bay, Alaska, strings of 16 –20 sablefish, Korean hair crab, shrimp, and Kodiak wooden lair pots were set at depths ranging between 62 and 390 meters. Catch per-unit-of-ef for t estimates were highest for sablefish and lair pots. Sablefish pots caught significantly heavier North Pacific giant octopuses but also produced the highest bycatch of commercially important species, such as halibut (Hippoglossus stenolepis), Pacific cod (Gadus macrocephalus), and Tanner crab (Chionoecetes bairdi).
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Over the last two or three years, the increasing costs of energy and worsening market conditions have focussed even greater attention within paper mills than before, on considering ways to improve efficiency and reduce the energy used in paper making. Arising from a multivariable understanding of paper machine operation, Advanced Process Control (APC) technology enables paper machine behaviour to be controlled in a more coherent way, using all the variables available for control. Furthermore, with the machine under better regulation and with more variables used in control, there is the opportunity to optimise machine operation, usually providing very striking multi-objective performance improvement benefits of a number of kinds. Traditional three term control technology does not offer this capability. The paper presents results from several different paper machine projects we have undertaken around the world. These projects have been aimed at improving machine stability, optimising chemicals usage and reducing energy use. On a brown paperboard machine in Australasia, APC has reduced specific steam usage by 10%, averaged across the grades; the controller has also provided a significant capacity to increase production. On a North American newsprint machine, the APC system has reduced steam usage by more than 10%, and it provides better control of colour and much improved wet end stability. The paper also outlines early results from two other performance improvement projects, each incorporating a different approach to reducing the energy used in paper making. The first of these two projects is focussed on optimising sheet drainage, aiming to present the dryer with a sheet having higher solids content than before. The second project aims to reduce specific steam usage by optimising the operation of the dryer hood.
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This paper looks into economic insights offerred by considerations of two important financial markets in Vietnam, gold and USD. In general, the paper focuses on time series properties, mainly returns at different frequencies, and test the weak-form efficient market hypothesis. All the test rejects the efficiency of both gold and foreign exchange markets. All time series exhibit strong serial correlations. ARMA-GARCH specifications appear to have performed well with different time series. In all cases the changing volatility phenomenon is strongly supported through empirical data. An additional test is performed on the daily USD return to try to capture the impacts of Asian financial crisis and daily price limits applicable. No substantial impacts of the Asian crisis and the central bank-devised limits are found to influence the risk level of daily USD return.
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Gemstone Team MICE (Modifying and Improving Computer Ergonomics)
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We develop a methodology for testing Hicks's induced innovation hypothesis by estimating a product-characteristics model of energy-using consumer durables, augmenting the hypothesis to allow for the influence of government regulations. For the products we explored, the evidence suggests that (i) the rate of overall innovation was independent of energy prices and regulations; (ii) the direction of innovation was responsive to energy price changes for some products but not for others; (iii) energy price changes induced changes in the subset of technically feasible models that were offered for sale; (iv) this responsiveness increased substantially during the period after energy-efficiency product labeling was required; and (v) nonetheless, a sizable portion of efficiency improvements were autonomous.
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This paper examines the relative efficiency of UK credit unions. Radial and non-radial measures of input cost efficiency plus associated scale efficiency measures are computed for a selection of input output specifications. Both measures highlighted that UK credit unions have considerable scope for efficiency gains. It was mooted that the documented high levels of inefficiency may be indicative of the fact that credit unions, based on clearly defined and non-overlapping common bonds, are not in competition with each other for market share. Credit unions were also highlighted as suffering from a considerable degree of scale inefficiency with the majority of scale inefficient credit unions subject to decreasing returns to scale. The latter aspect highlights that the UK Government's goal of larger credit unions must be accompanied by greater regulatory freedom if inefficiency is to be avoided. One of the advantages of computing non-radial measures is that an insight into potential over- or under-expenditure on specific inputs can be obtained through a comparison of the non-radial measure of efficiency with the associated radial measure. Two interesting findings emerged, the first that UK credit unions over-spend on dividend payments and the second that they under-spend on labour costs.
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This research arises due to the current restructuring process in which is immersed the Spanish banking sector. The above mentioned process is carried out to try to reduce the doubts on the viability of the bank companies to average and long term and to be able to return again the confidence in the sector. Though the economic and financial crisis has concerned the whole banking sector, the subsector of the Spanish savings banks is the one that has experienced a major number of integrations (articulated by means of mergers, absorptions and across Institutional Protection Schemes -IPSs-), and the one that has met submitted to the bancarization process. Considering what has been said, the present paper analyses Spanish saving banks to try to discern whether thanks to that process the objectives pursued by the bank rearrangement have been fulfilled. To do this, the evolution of some important financial variables will be studied over a long period of time (1999-2012). The results suggest that not all the savings banks have seen improved their ratios of efficiency, solvency, financial gap and social work, which indicates that there is still much to be done in order to rectify the problems affecting the studied sector.
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The application of the contingent valuation method (CVM) in this paper incorporates a prior preference ordering of several alternative future afforestation programmes which could be implemented in Ireland over the next decade. This particular experimental design is thereby shown to reveal the potentially conflicting preferences of different groups within society. These findings are used to devise appropriate CVM scenarios to take account, not only of the efficiency gains of choosing a single policy alternative over others, but also the effects on the distribution of non market benefit between different groups within society, arising from choice between alternatives. (C) 1998 Elsevier Science Ltd. All rights reserved.
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Both Anderson and Gatignon and the Uppsala internationalization model see the initial mode of foreign market entry and subsequent modes of operation as unilaterally determined by multinational enterprises (MNEs) arbitraging control and risk and increasing their commitment as they gain experience in the target market. OLI and internalization models do recognize that foreign market entry requires the bundling of MNE and complementary local assets, which they call location or country-specific advantages, but implicitly assume that those assets are freely accessible to MNEs. In contrast to both of these MNE-centric views, I explicitly consider the transactional characteristics of complementary local assets and model foreign market entry as the optimal assignment of equity between their owners and MNEs. By looking at the relative efficiency of the different markets in which MNE and complementary local assets are traded, and at how these two categories of assets match, I am able to predict whether equity will be held by MNEs or by local firms, or shared between them, and whether MNEs will enter through greenfields, brownfields, or acquisitions. The bundling model I propose has interesting implications for the evolution of the MNE footprint in host countries, and for the reasons behind the emergence of Dragon MNEs.