Short-term Price Behavior and the Effect of Foreign Investors in Finnish Equity Markets (summary section only)

As globalization and capital free movement has increased, so has interest in the effects of that global money flow, especially during financial crises. The concern has been that large global money flows will affect the pricing of small local markets by causing, in particular, overreaction. The purpose of this thesis is to contribute to the body of work concerning short-term under- and overreaction and the short-term effects of foreign investment flow in the small Finnish equity markets. This thesis also compares foreign execution return to domestic execution return. This study’s results indicate that short-term under- and overreaction occurs in domestic-buy portfolios (domestic net buying) rather than in foreign-buy portfolios. This under- and overreaction, however, is not economically meaningful after controlling for the bid-ask bounce effect. Based on this finding, one can conclude that foreign investors do not have a destabilizing effect in the short-term in the Finnish markets. Foreign activity affects short-term returns. When foreign investors are net buyers (sellers) there are positive (negative) market adjusted returns. Literature related to nationality and institutional effect leads us to expect these kind of results. These foreign flows are persistent at a 5 % to 21 % level and the persistence of foreign buy flow is higher than the foreign sell flow. Foreign daily trading execution is worse than domestic execution. Literature which quantifies foreign investors as liquidity demanders and literature related to front-running leads us to expect poorer foreign execution than domestic execution.

Sukupuoli ja organisaatiot liikkeessä? Gender and Organisations in Flux?

Viimeaikainen sukupuolta ja organisaatiota käsittelevä tutkimus ja kirjallisuus on saanut paljon (toisinaan epäsuoria) vaikutteita feminismiä ympäröivistä keskusteluista. Lisäksi naisten aseman ja kokemuksien tunnistaminen organisaatioissa ja johtamisessa on vaikuttanut tutkimukseen. Erilaisten kansainvälisesti tutkittujen aiheiden kirjo on laaja: sukupuolisuhteet organisaatioiden ja johtoryhmien kulttuureissa ja kommunikaatiossa; sukupuolittunut työnjako; sukupuolittuneet hierarkiat, valta, auktoriteetti ja johtajuus organisaatioissa ja johtamisessa; sukupuolittuneet markkinat; sukupuolittuneet kuvat, symbolit ja mainokset; sukupuoli ja IT teknologia; seksuaalisuus, häirintä, kiusaaminen ja väkivalta organisaatioissa; työn ja kodin yhteensovittaminen; ja niin edelleen. Myös akateemiset organisaatiot sekä niiden sukupuolittuneet valtasuhteet ja johtaminen kaipaavat kipeästi huomiota. Useimpia mainituista alueista on tutkittu ainakin jonkin verran mutta paljon työtä on vielä myös jäljellä. Tämä kokoelma esittelee ajankohtaista suomalaista tutkimusta seuraavista teemoista: tasa-arvo organisaatioissa, naisjohtajuus, yrittäjyyden sukupuoli, verkostot, sukupuolen representaatio sekä sukupuoli ja uusi teknologia. Kokoelma on työryhmän yhdessä koostama joten se on ennen kaikkea yhteistyön tulos. Recent research and literature on the gendering of organisations has been strongly influenced, though sometimes indirectly, by debates in and around feminism, and on recognising women and women’s situations, experiences and voices in organisations and management. The range of topics and issues that have been studied internationally is vast: gender relations in organizational and management groups, cultures and communication; gender divisions of labour; gender divisions of hierarchy, power, authority and leadership in organizations and management; gendered markets; gender imagery, symbols and advertising; gender and information technology; sexuality, harassment, bullying and violence in organisations; home-work relations; and so on. There are also key issues of gender power relations in academic organizations and management themselves, which need urgent attention. Though most of these areas have been researched to some extent, much remains to be done. This collection brings together current Finnish research on: Equality in Organisations, Women in Management, Gender and Entrepreneurship, Networks, Representation of Gender, Gender and ICTs. The book has been put together by an editorial team and is thus first and foremost a collective effort.

Subject Teacher Training and Teaching in English

The purpose of this Master s thesis is on one hand to find out how CLIL (Content and Language Integrated Learning) teachers and English teachers perceive English and its use in teaching, and on the other hand, what they consider important in subject teacher education in English that is being planned and piloted in STEP Project at the University of Helsinki Department of Teacher Education. One research question is also what kind of language requirements teachers think CLIL teachers should have. The research results are viewed in light of previous research and literature on CLIL education. Six teachers participate in this study. Two of them are English teachers in the comprehensive school, two are class teachers in bilingual elementary education, and two are subject teachers in bilingual education, one of whom teaches in a lower secondary school and the other in an upper secondary school. One English teacher and one bilingual class teacher have graduated from a pilot class teacher program in English that started at the University of Helsinki in the middle of the 1990 s. The bilingual subject teachers are not trained in English but they have learned English elsewhere, which is a particular focus of interest in this study because it is expected that a great number of CLIL teachers in Finland do not have actual studies in English philology. The research method is interview and this is a qualitative case study. The interviews are recorded and transcribed for the ease of analysis. The English teachers do not always use English in their lessons and they would not feel confident in teaching another subject completely in English. All of the CLIL teachers trust their English skills in teaching, but the bilingual class teachers also use Finnish during lessons either because some teaching material is in Finnish, or they feel that rules and instructions are understood better in mother tongue or students English skills are not strong enough. One of the bilingual subject teachers is the only one who consciously uses only English in teaching and in discussions with students. Although teachers good English skills are generally considered important, only the teachers who have graduated from the class teacher education in English consider it important that CLIL teachers would have studies in English philology. Regarding the subject teacher education program in English, the respondents hope that its teachers will have strong enough English skills and that it will deliver what it promises. Having student teachers of different subjects studying together is considered beneficial. The results of the study show that acquiring teaching material in English continues to be the teachers own responsibility and a huge burden for the teachers, and there has, in fact, not been much progress in the matter since the beginning of CLIL education. The bilingual subject teachers think, however, that using one s own material can give new inspiration to teaching and enable the use of various pedagogical methods. Although it is questionable if the language competence requirements set for CLIL teachers by the Finnish Ministry of Education are not adhered to, it becomes apparent in the study that studies in English philology do not necessarily guarantee strong enough language skills for CLIL teaching, but teachers own personality and self-confidence have significance. Keywords: CLIL, bilingual education, English, subject teacher training, subject teacher education in English, STEP

Finite-State Spell-Checking with Weighted Language and Error Models

In this paper we present simple methods for construction and evaluation of finite-state spell-checking tools using an existing finite-state lexical automaton, freely available finite-state tools and Internet corpora acquired from projects such as Wikipedia. As an example, we use a freely available open-source implementation of Finnish morphology, made with traditional finite-state morphology tools, and demonstrate rapid building of Northern Sámi and English spell checkers from tools and resources available from the Internet.

Laundry Symbols and License Management

One of the most challenging tasks in building language resources is the copyright license management. There are several reasons for this. First of all, the current European copyright system is designed to a large extent to satisfy the commercial actors, e.g. publishers, record companies etc. This means that the scope and duration of the rights are very extensive and there are even certain forms of protection that do not exist elsewhere in the world, e.g. database right. On the other hand, the exceptions for research and teaching are typically very narrow.

Building and Using Existing Hunspell Dictionaries and TEX Hyphenators as Finite-State Automata

There are numerous formats for writing spellcheckers for open-source systems and there are many descriptions for languages written in these formats. Similarly, for word hyphenation by computer there are TEX rules for many languages. In this paper we demonstrate a method for converting these spell-checking lexicons and hyphenation rule sets into finite-state automata, and present a new finite-state based system for writer’s tools used in current open-source software such as Firefox, OpenOffice.org and enchant via the spell-checking library voikko.

Common Infrastructure for Finite-State Based Methods and Linguistics Descriptions

Finite-state methods have been adopted widely in computational morphology and related linguistic applications. To enable efficient development of finite-state based linguistic descriptions, these methods should be a freely available resource for academic language research and the language technology industry. The following needs can be identified: (i) a registry that maps the existing approaches, implementations and descriptions, (ii) managing the incompatibilities of the existing tools, (iii) increasing synergy and complementary functionality of the tools, (iv) persistent availability of the tools used to manipulate the archived descriptions, (v) an archive for free finite-state based tools and linguistic descriptions. Addressing these challenges contributes to building a common research infrastructure for advanced language technology.

Relation Between the Diffusivity, Viscosity, and Ionic Radius of LiCl in Water, Methanol, and Ethylene Glycol: A Molecular Dynamics Simulation

A molecular dynamics (MD) investigation of LiCl in water, methanol, and ethylene glycol (EG) at 298 K is reported. Several; structural and dynamical properties of the ions as well as the solvent such as self-diffusivity, radial distribution functions, void and neck distributions, velocity autocorrelation functions, and mean residence times of solvent in the first solvation shell have been computed. The results show that the reciprocal relationship between the self-diffusivity of the ions and the viscosity is valid in almost all solvents with the exception of water. From an analysis of radial distribution functions and coordination numbers the nature of hydrogen bonding within the solvent and its influence on the void and neck distribution becomes evident. It is seen that the solvent solvent interaction is important in EG while solute solvent interactions dominate in water and methanol. From Voronoi tessellation, it is seen that the voids and necks within methanol are larger as compared to those within water or EG. On the basis of the void and neck distributions obtained from MD simulations and literature experimental data of limiting ion conductivity for various ions of different sizes we show that there is a relation between the void and neck radius on e one hand and dependence of conductivity on the ionic radius on the other. It is shown that the presence of large diameter voids and necks in methanol is responsible for maximum in limiting ion conductivity (lambda(0)) of TMA(+), while in water in EG, the maximum is seen for Rb+. In the case of monovalent anions, maximum in lambda(0) as a function ionic radius is seen for Br- in water EG but for the larger ClO4- ion in methanol. The relation between the void and neck distribution and the variation in lambda(0) with ionic radius arises via the Levitation effect which is discussed. These studies show the importance of the solvent structure and the associated void structure.

O quebra-nozes de Machado de Assis: crítica e nacionalismo

Esta tese visa a analisar três perspectivas nacionalistas oferecidas pela obra crítica de Machado de Assis. Buscamos, inicialmente, a feição intelectual do jovem Machado no interior do projeto romântico-nacionalista, com o qual estava alinhado e do qual se afastaria paulatinamente. Para tanto, foi cotejado, inicialmente, com dois militantes daquele nacionalismo defensivo: Santiago Nunes Ribeiro e Joaquim Norberto de Sousa Silva. Esse lugar de onde falava Machado ganha em definição num segundo momento, quando empreendemos a análise comparativa de seus textos com os de Macedo Soares e José de Alencar. Sobretudo entre 1859 e 1872, Machado de Assis construiria sua crítica teatral, tornando-se um paladino da comédia realista francesa. A primeira face nacionalista de sua crítica afirma-se nesse profundo envolvimento de Machado com o projeto de um teatro brasileiro pautado no potencial pedagógico da alta comédia. A segunda perspectiva nacionalista define-se à medida que se define o classicismo moderno de Machado, uma articulação muito pessoal de sua visão universalista com a já instaurada modernidade literária. Para a análise desse viés, usamos o corpus de sua crítica literária construída como gênero autônomo, oferecida convencionalmente ao público, por via da qual escritores e leitores se habilitariam a intervir na sociedade, cumprindo, patrioticamente, a missão para a qual a literatura os preparara. A partir de 1883, depois de quase cinco anos afastado da crônica, Machado a retoma, usando-a para exercitar, mais franca e assiduamente, uma particular teoria da cultura brasileira e, paralelamente, uma espécie de busca de nosso caráter nacional. Dessa forma, seu nacionalismo, numa terceira angulação, orienta-se para a experiência humana, que, entre incorporar o fundamento externo e resistir a ele, acaba por formar algo irremediavelmente brasileiro; essa crônica, portanto, carrega uma crítica de feição cultural, no sentido de Machado ter-se comprometido com significações e valores de nossa vida social. Ao examiná-lo como escritor que, inicialmente, se postou contra o colonialismo cultural; que, a seguir, se engajou num projeto civilizatório conduzido pelo teatro e pela literatura e que, por fim, investigou a sensibilidade coletiva brasileira a partir de suas representações culturais, esta tese faculta uma apreensão mais criteriosa das interseções entre os temas nacionalismo e Machado de Assis