A study of behavioral finance: background, theories and application

Behavioral finance, or behavioral economics, consists of a theoretical field of research stating that consequent psychological and behavioral variables are involved in financial activities such as corporate finance and investment decisions (i.e. asset allocation, portfolio management and so on). This field has known an increasing interest from scholar and financial professionals since episodes of multiple speculative bubbles and financial crises. Indeed, practical incoherencies between economic events and traditional neoclassical financial theories had pushed more and more researchers to look for new and broader models and theories. The purpose of this work is to present the field of research, still ill-known by a vast majority. This work is thus a survey that introduces its origins and its main theories, while contrasting them with traditional finance theories still predominant nowadays. The main question guiding this work would be to see if this area of inquiry is able to provide better explanations for real life market phenomenon. For that purpose, the study will present some market anomalies unsolved by traditional theories, which have been recently addressed by behavioral finance researchers. In addition, it presents a practical application of portfolio management, comparing asset allocation under the traditional Markowitz’s approach to the Black-Litterman model, which incorporates some features of behavioral finance.

Extra! Extra!: os jornaleiros e as bancas de jornais como espaço de disputas pelo controle da distribuição da imprensa e da economia política dos meios

Parafraseando Robert Ezra Park, os jornaleiros têm uma história; mas os jornaleiros têm, ainda, uma história natural. A evolução do modelo de distribuição e comercialização de publicações impressas, que culmina nas modernas bancas de jornais, aponta para o tratamento de licenças e concessões para a operacionalização de uma atividade comercial em espaço público urbano. As bancas se constituem, portanto, em um espaço regulado pelo poder público e operacionalizado por iniciativa privada, a título precário. Por que se chegou a este modelo e quais as suas implicações é uma das principais questões abordadas por este trabalho. Entre outros pontos, esta tese tem como objetivo compreender (1) em que medida políticos e homens públicos são capazes de atuar na regulação da liberdade de imprensa através do controle e fiscalização sobre as bancas de jornais; (2) como se dão as articulações dos profissionais vendedores e distribuidores de jornais e revistas diante destas regulações, quais são suas reivindicações comuns e como é construída sua memória em torno destas ações; (3) em que circunstâncias se desenvolvem as negociações entre jornaleiros e homens de imprensa e como estas relações são capazes de ampliar a penetração de determinados impressos junto ao público, atuando de maneira decisiva na conformação da opinião pública; e, finalmente, (4) qual a importância dos jornaleiros e das bancas de jornais e revistas no processo histórico de construção política da opinião sobre a notícia e na apreensão social da informação nas grandes cidades. Nesse sentido, embora evidenciado pelo modelo atual de distribuição adotado pelas principais cidades do país, o papel dos jornaleiros como agentes de fundamental relevância cultural e política na cadeia produtiva dos periódicos impressos tem sido subjugado ante a análises que se concentram nas técnicas ou no discurso jornalístico, quando muito nas cercanias dos estudos de recepção e na apropriação da cultura popular – jamais na investigação sobre esta instituição que silenciosamente tem ocupado nosso imaginário por todos esses anos: as bancas de jornais e revistas.

Meta-theories in research: positivism, postmodernism, and critical realism

No scholar or researcher is able to provide robust evidence that counters the scant reflection on metatheory – mostly ontology and epistemology – underlying management studies in general, and industrial marketing and purchasing research in particular. This paper is a contribution to the indispensable discussion of metatheoretical alternatives in research, and most importantly, the strengths and shortcomings thereof, and respective implications on research questions, objectives, and findings.

Paradigms in health care and its relationship to the nursing theories: an analytical test

DANTAS, Rodrigo Assis Neves; NÓBREGA, Walkíria Gomes da; MORAIS FILHO, Luiz Alves; MACÊDO, Eurides Araújo Bezerra de ; FONSECA , Patrícia de Cássia Bezerra; ENDERS, Bertha Cruz; MENEZES, Rejane Maria Paiva de; TORRES , Gilson de Vasconcelos. Paradigms in health care and its relationship to the nursing theories: an analytical test . Revista de Enfermagem UFPE on line. v.4,n.2, p.16-24.abr/jun. 2010. Disponível em < http://www.ufpe.br/revistaenfermagem/index.php/revista>.

Da informação ao conhecimento :o jornalismo científico na contemporaneidade

The purpose of this dissertation is to analyze the actual nature of the Scientific Journalism, studying the historical facts from these informations segment, their matters production and the news industries that work with these specific niche of the contemporary journalism. It is taken into account the educational potential of the specialized journalism and it is considered the communication as a transdiciplinary science. To get into this point it was elected as an analyze category the Reception it Mediation Studies specially the north-americans theories besides the utilization also of the reportage concept to identify how to establish the epistemological relations between Communication and Education. Among the objectives of this dissertation are the investigation of the scientific character of the journalism; the analysis of the theoretical currents of Pedagogy that are based on the theory of Social Communication, as for example the Total Language and the analysis of the industrial and technological characteristics of the most important scientific and cultural magazines of Brazil, Northeast and Natal

Humor gráfico: o sorriso pensante e a formação do leitor

This research investigates the graphic humor, in particular the political cartoon and the cartoon, texts characterized by mixing visual-oral language, and its contribution in the formation of the reader. Recovers the main theories about the comicality in general and verifies the presence of these concepts into the texts of graphic humor and how they articulate themselves within the process of seducing the reader. Grounded in the studies of Umberto Eco about the cultural industry products and its relations with the literary theories and the aesthetics reception. After analysing texts of graphic humor, the study concludes that the triad, image-word-humor reveal a sophisticated arrangement which allows the reader to practice effectively the political cartoons and cartoons of production, of sense, cooperating in such a singular manner to the formation of a reflexive reader

A televisão refletida na escola: a compreensão de mães/educadoras

This work aims to examine the television social representation by mothers/educators as a TV viewers, to understand the meaning of this media in their quotidian and which relations occur between teachers and students in the classroom. The study purpose is the educational television rule, based on a social representation approach. It look for to reveal, through the discourses of five educators who are engaged in pedagogic activities in the Public Elementary School of the Natal city, a significant experience in the media education field progress. It’s also a way to understand which representations the educators have about the television can contribute to aid the idea and critic analysis about the media meaning in the teacher’s formation. Some questions were in the basis of the investigation as: What is the television for the educators who are also TV viewers? How it reaches the classroom? Their relation with the media interfere in the pedagogic practice? Assuming that the verbal technical is one of the formal ways to access the representations, the methodological strategy employed was the open interview, guided by a wide and flexible schedule, leaving the interviewees free to expose their ideas, a attitude adopted to avoid the imposition of interviwer’s points of view, that result in a rich material. Through this strategy it was possible to confirm or to reject presumptions raised in the beginning of the investigation and modify some planning direction lines. The study has as the theory presupposition the contribution of the Mexican researcher Guillermo Orozco Gómez, who, based on the Paulo Freire e Jesús Martín-Barbero ideas, establishes a dialogue between popular Education and the communication theories, mainly the television reception, when he develops an integral view focused on the audience or on the multiple mediations model. The school – and the family, as well – is an important mediator of the media information. The relationship which the teachers establish between the television and their representations about it in their lives reflects effectively and directly on their professional practice and on the media dialogue within the school, it can contribute to the critic reflection which students establish with the media trough the educators mediation

Structural aspects of the fermion-boson mapping in two-dimensional gauge and anomalous gauge theories with massive fermions

Using a synthesis of the functional integral and operator approaches we discuss the fermion-buson mapping and the role played by the Bose field algebra in the Hilbert space of two-dimensional gauge and anomalous gauge field theories with massive fermions. In QED, with quartic self-interaction among massive fermions, the use of an auxiliary vector field introduces a redundant Bose field algebra that should not be considered as an element of the intrinsic algebraic structure defining the model. In anomalous chiral QED, with massive fermions the effect of the chiral anomaly leads to the appearance in the mass operator of a spurious Bose field combination. This phase factor carries no fermion selection rule and the expected absence of Theta-vacuum in the anomalous model is displayed from the operator solution. Even in the anomalous model with massive Fermi fields, the introduction of the Wess-Zumino field replicates the theory, changing neither its algebraic content nor its physical content. (C) 2002 Elsevier B.V. (USA).

Ghost free dual vector theories in 2+1 dimensions

We explore here the issue of duality versus spectrum equivalence in dual theories generated through the master action approach. Specifically we examine a generalized self-dual (GSD) model where a Maxwell term is added to the self-dual model. A gauge embedding procedure applied to the GSD model leads to a Maxwell-Chern-Simons (MCS) theory with higher derivatives. We show here that the latter contains a ghost mode contrary to the original GSD model. By figuring out the origin of the ghost we are able to suggest a new master action which interpolates between the local GSD model and a nonlocal MCS model. Those models share the same spectrum and are ghost free. Furthermore, there is a dual map between both theories at classical level which survives quantum correlation functions up to contact terms. The remarks made here may be relevant for other applications of the master action approach.

Generalized duality between local vector theories in D=2+1

The existence of an interpolating master action does not guarantee the same spectrum for the interpolated dual theories. In the specific case of a generalized self-dual (GSD) model defined as the addition of the Maxwell term to the self-dual model in D = 2 + 1, previous master actions have furnished a dual gauge theory which is either nonlocal or contains a ghost mode. Here we show that by reducing the Maxwell term to first order by means of an auxiliary field we are able to define a master action which interpolates between the GSD model and a couple of non-interacting Maxwell-Chern-Simons theories of opposite helicities. The presence of an auxiliary field explains the doubling of fields in the dual gauge theory. A generalized duality transformation is defined and both models can be interpreted as self-dual models. Furthermore, it is shown how to obtain the gauge invariant correlators of the non-interacting MCS theories from the correlators of the self-dual field in the GSD model and vice-versa. The derivation of the non-interacting MCS theories from the GSD model, as presented here, works in the opposite direction of the soldering approach.

Unitarity of spin-2 theories with linearized Weyl symmetry in D=2+1 dimensions

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Simulations under Ideal and Nonideal Conditions for Characterization of a Passive Doppler Geographical Location System Using Extension of Data Reception Network

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

SU(2,R)(q) symmetries of Non-Abelian Toda theories

The classical and quantum algebras of a class of conformal NA-Toda models are studied. It is shown that the SL(2,R)(q) Poisson brackets algebra generated by certain chiral and antichiral charges of the nonlocal currents and the global U(1) charge appears as an algebra of the symmetries of these models. (C) 1998 Elsevier B.V. B.V. All rights reserved.

Equivalence of many-photon Green's functions in the Duffin-Kemmer-Petiau and Klein-Gordon-Fock statistical quantum field theories

Using the functional integral formalism for the statistical generating functional in the statistical (finite temperature) quantum field theory, we prove the equivalence of many-photon Greens functions in the Duffin-Kennner-Petiau and Klein-Gordon-Fock statistical quantum field theories. As an illustration, we calculate the one-loop polarization operators in both theories and demonstrate their coincidence.