The effect of governance mechanism and structure on fees and performance of Mutual Funds in Canada

Taking advantage of the unique Canadian setting, this study empirically analyzes the impact of presence of the board of directors, as an internal governance mechanism, on fees and performance of mutual funds. Further, the impact of the board structure on fees and performance of corporate class funds is analyzed. We find that corporate class funds, which have a separate board of directors for the fund, charge higher fees; however, they also provide superior performance than trust funds. Furthermore, we find that for corporate class funds, smaller board, with higher percentage of independent directors, and with the fund CEO acting as the chairman of the board is likely to charge lower fees. Also, more independent boards are strongly associated with superior fee-adjusted performance.

Frontal Lobe Function and Performance Monitoring following Total Sleep Deprivation

Imaging studies have shown reduced frontal lobe resources following total sleep deprivation (TSD). The anterior cingulate cortex (ACC) in the frontal region plays a role in performance monitoring and cognitive control; both error detection and response inhibition are impaired following sleep loss. Event-related potentials (ERPs) are an electrophysiological tool used to index the brain's response to stimuli and information processing. In the Flanker task, the error-related negativity (ERN) and error positivity (Pe) ERPs are elicited after erroneous button presses. In a Go/NoGo task, NoGo-N2 and NoGo-P3 ERPs are elicited during high conflict stimulus processing. Research investigating the impact of sleep loss on ERPs during performance monitoring is equivocal, possibly due to task differences, sample size differences and varying degrees of sleep loss. Based on the effects of sleep loss on frontal function and prior research, it was expected that the sleep deprivation group would have lower accuracy, slower reaction time and impaired remediation on performance monitoring tasks, along with attenuated and delayed stimulus- and response-locked ERPs. In the current study, 49 young adults (24 male) were screened to be healthy good sleepers and then randomly assigned to a sleep deprived (n = 24) or rested control (n = 25) group. Participants slept in the laboratory on a baseline night, followed by a second night of sleep or wake. Flanker and Go/NoGo tasks were administered in a battery at 1O:30am (i.e., 27 hours awake for the sleep deprivation group) to measure performance monitoring. On the Flanker task, the sleep deprivation group was significantly slower than controls (p's <.05), but groups did not differ on accuracy. No group differences were observed in post-error slowing, but a trend was observed for less remedial accuracy in the sleep deprived group compared to controls (p = .09), suggesting impairment in the ability to take remedial action following TSD. Delayed P300s were observed in the sleep deprived group on congruent and incongruent Flanker trials combined (p = .001). On the Go/NoGo task, the hit rate (i.e., Go accuracy) was significantly lower in the sleep deprived group compared to controls (p <.001), but no differences were found on false alarm rates (i.e., NoGo Accuracy). For the sleep deprived group, the Go-P3 was significantly smaller (p = .045) and there was a trend for a smaller NoGo-N2 compared to controls (p = .08). The ERN amplitude was reduced in the TSD group compared to controls in both the Flanker and Go/NoGo tasks. Error rate was significantly correlated with the amplitude of response-locked ERNs in control (r = -.55, p=.005) and sleep deprived groups (r = -.46, p = .021); error rate was also correlated with Pe amplitude in controls (r = .46, p=.022) and a trend was found in the sleep deprived participants (r = .39, p =. 052). An exploratory analysis showed significantly larger Pe mean amplitudes (p = .025) in the sleep deprived group compared to controls for participants who made more than 40+ errors on the Flanker task. Altered stimulus processing as indexed by delayed P3 latency during the Flanker task and smaller amplitude Go-P3s during the Go/NoGo task indicate impairment in stimulus evaluation and / or context updating during frontal lobe tasks. ERN and NoGoN2 reductions in the sleep deprived group confirm impairments in the monitoring system. These data add to a body of evidence showing that the frontal brain region is particularly vulnerable to sleep loss. Understanding the neural basis of these deficits in performance monitoring abilities is particularly important for our increasingly sleep deprived society and for safety and productivity in situations like driving and sustained operations.

The interest rates and performance of MFIs in the MENA region: is there a moral issue?

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Teams make it work : How team work engagement mediates between social resources and performance in teams

Resumen tomado de la publicaci??n

Oral Presentations: Preparation and Performance

A short lecture on presentation skills in an academic environment

Prediction of human adaptation and performance in underwater environments

Resumen tomado de la publicaci??n

Importance of self-efficacy in psychoendocrine responses to competition and performance in women

Resumen tomado de la publicaci??n

Social networks and performance in knowledge creation. An application and a methodological proposal

El objetivo de esta tesis es predecir el rendimiento de los estudiantes de doctorado en la Universidad de Girona según características personales (background), actitudinales y de redes sociales de los estudiantes. La población estudiada son estudiantes de tercer y cuarto curso de doctorado y sus directores de tesis doctoral. Para obtener los datos se ha diseño un cuestionario web especificando sus ventajas y teniendo en cuenta algunos problemas tradicionales de no cobertura o no respuesta. El cuestionario web se hizo debido a la complejidad que comportan de las preguntas de red social. El cuestionario electrónico permite, mediante una serie de instrucciones, reducir el tiempo para responder y hacerlo menos cargado. Este cuestionario web, además es auto administrado, lo cual nos permite, según la literatura, unas respuestas mas honestas que cuestionario con encuestador. Se analiza la calidad de las preguntas de red social en cuestionario web para datos egocéntricos. Para eso se calcula la fiabilidad y la validez de este tipo de preguntas, por primera vez a través del modelo Multirasgo Multimétodo (Multitrait Multimethod). Al ser datos egocéntricos, se pueden considerar jerárquicos, y por primera vez se una un modelo Multirasgo Multimétodo Multinivel (multilevel Multitrait Multimethod). Las la fiabilidad y validez se pueden obtener a nivel individual (within group component) o a nivel de grupo (between group component) y se usan para llevar a cabo un meta-análisis con otras universidades europeas para analizar ciertas características de diseño del cuestionario. Estas características analizan si para preguntas de red social hechas en cuestionarios web son más fiables y validas hechas "by questions" o "by alters", si son presentes todas las etiquetas de frecuencia para los ítems o solo la del inicio y final, o si es mejor que el diseño del cuestionario esté en con color o blanco y negro. También se analiza la calidad de la red social en conjunto, en este caso específico son los grupos de investigación de la universidad. Se tratan los problemas de los datos ausentes en las redes completas. Se propone una nueva alternativa a la solución típica de la red egocéntrica o los respondientes proxies. Esta nueva alternativa la hemos nombrado "Nosduocentered Network" (red Nosduocentrada), se basa en dos actores centrales en una red. Estimando modelos de regresión, esta "Nosduocentered network" tiene mas poder predictivo para el rendimiento de los estudiantes de doctorado que la red egocéntrica. Además se corrigen las correlaciones de las variables actitudinales por atenuación debido al pequeño tamaño muestral. Finalmente, se hacen regresiones de los tres tipos de variables (background, actitudinales y de red social) y luego se combinan para analizar cual para predice mejor el rendimiento (según publicaciones académicas) de los estudiantes de doctorado. Los resultados nos llevan a predecir el rendimiento académico de los estudiantes de doctorado depende de variables personales (background) i actitudinales. Asimismo, se comparan los resultados obtenidos con otros estudios publicados.

Does the regional nature of multinationals affect the multinationality and performance relationship?

The traditional independent variable in the multinationality and performance literature is the ratio of foreign (F) to total (T) sales, (F/T). This can now be supplemented by a new regional variable, the ratio of regional (R) to total (T) sales, i.e. (R/T). Data are presented on both (F/T) and (R/T) for both sales and assets for a 5-year period, 2001–2005. New tests are reported on (R/T) as it affects a financial measure of performance, the Tobin's Q. Implications are drawn for future research on the S-curve relationship between multinationality and performance in the light of this regional phenomenon.

The air distribution index as an indicator for energy consumption and performance of ventilation systems

This paper deals with the energy consumption and the evaluation of the performance of air supply systems for a ventilated room involving high- and low-level supplies. The energy performance assessment is based on the airflow rate, which is related to the fan power consumption by achieving the same environmental quality performance for each case. Four different ventilation systems are considered: wall displacement ventilation, confluent jets ventilation, impinging jet ventilation and a high level mixing ventilation system. The ventilation performance of these systems will be examined by means of achieving the same Air Distribution Index (ADI) for different cases. The widely used high-level supplies require much more fan power than those for low-level supplies for achieving the same value of ADI. In addition, the supply velocity, hence the supply dynamic pressure, for a high-level supply is much larger than for low-level supplies. This further increases the power consumption for high-level supply systems. The paper considers these factors and attempts to provide some guidelines on the difference in the energy consumption associated with high and low level air supply systems. This will be useful information for designers and to the authors' knowledge there is a lack of information available in the literature on this area of room air distribution. The energy performance of the above-mentioned ventilation systems has been evaluated on the basis of the fan power consumed which is related to the airflow rate required to provide equivalent indoor environment. The Air Distribution Index (ADI) is used to evaluate the indoor environment produced in the room by the ventilation strategy being used. The results reveal that mixing ventilation requires the highest fan power and the confluent jets ventilation needs the lowest fan power in order to achieve nearly the same value of ADI.