Liquidity and Asset Pricing in the French Stock Market

This thesis investigates pricing of liquidity in the French stock market. The study covers 835 ordinary shares traded in the period of 1996-2014 on Paris Euronext. The author utilizes the Liquidity-Adjusted Capital Asset Pricing Model (LCAPM) recently developed by Acharya and Pedersen (2005) to test whether liquidity level and risks significantly affect stock returns. Three different liquidity measures – Amihud, FHT, and PQS – are incorporated into the model to find any difference between the results they could provide. It appears that the findings largely depend on the liquidity measure used. In general the results exhibit more evidence for insignificant influence of liquidity level and risks as well as market risk on stock returns. The similar conclusion was reported earlier by Lee (2011) for several regions, including France. This finding of the thesis, however, is not consistent across all the liquidity measures. Nevertheless, the difference in the results between these measures provides new insight to the existing literature on this topic. The Amihud-based findings might indicate that market resiliency is not priced in the French stock market. At the same time the contradicting results from FHT and PQS provide some foundation for the hypothesis that one of two leftover liquidity dimensions – market depth or breadth – could significantly affect stock returns. Therefore, the thesis’ findings suggest a conjecture that different liquidity dimensions have different impacts on stock returns.

Música, religião e cor: uma leitura da produção de black music gospel

O artigo busca apresentar novos elementos para discutir a transformação do meio evangélico brasileiro. Para tanto, recorre à produção musical, especificamente à black music gospel / "música negra". Esta é baseada em musicalidades contemporâneas como, por exemplo, o hip-hop e o reggae , e efetivada por grupos independentes. Eles são formados por fiéis e não têm vínculos com empresas especializadas. Seus responsáveis apresentam bens e serviços que dialogam com as noções religiosas, principalmente com aquelas relacionadas ao contingente de fiéis afro-descendentes. Suas práticas e concepções caracterizam determinado estilo de participação e de pertencimento. Para a abordagem proposta, aplicam-se algumas noções como "negritude", "Atlântico negro" e "diáspora".

Social class as a factor for the construction of a musician’s identity : The Musician’s social background and identity questionnaire (MSBIQ) – a cross-sectional comparative quantitative online survey research study of music students at two higher education institutions in Finland

There is currently little empirical knowledge regarding the construction of a musician’s identity and social class. With a theoretical framework based on Bourdieu’s (1984) distinction theory, Bronfenbrenner’s (1979) theory of ecological systems, and the identity theories of Erikson (1950; 1968) and Marcia (1966), a survey called the Musician’s Social Background and Identity Questionnaire (MSBIQ) is developed to test three research hypotheses related to the construction of a musician’s identity, social class and ecological systems of development. The MSBIQ is administered to the music students at Sibelius Academy of the University of Arts Helsinki and Helsinki Metropolia University of Applied Sciences, representing the ’highbrow’ and the ’middlebrow’ samples in the field of music education in Finland. Acquired responses (N = 253) are analyzed and compared with quantitative methods including Pearson’s chi-square test, factor analysis and an adjusted analysis of variance (ANOVA). The study revealed that (1) the music students at Sibelius Academy and Metropolia construct their subjective musician’s identity differently, but (2) social class does not affect this identity construction process significantly. In turn, (3) the ecological systems of development, especially the individual’s residential location, do significantly affect the construction of a musician’s identity, as well as the age at which one starts to play one’s first musical instrument. Furthermore, a novel finding related to the structure of a musician’s identity was the tripartite model of musical identity consisting of the three dimensions of a musician’s identity: (I) ’the subjective dimension of a musician’s identity’, (II) ’the occupational dimension of a musician’s identity’ and, (III) ’the conservative-liberal dimension of a musician’s identity’. According to this finding, a musician’s identity is not a uniform, coherent entity, but a structure consisting of different elements continuously working in parallel within different dimensions. The results and limitations related to the study are discussed, as well as the objectives related to future studies using the MSBIQ to research the identity construction and social backgrounds of a musician or other performing artists.

Influence of heat treatment on the sensory and physical characteristics and carbohydrate fractions of french-fried potatoes (Solanum tuberosum L.)

AbstractThe aim of this study was to analyze the impact that heat treatment with salts and freezing processes on the sensory, instrumental, and physico-chemical characteristics of fried potatoes of the Monalisa cultivar. The potatoes were blanched in distilled water (P); sodium chloride solution (B1); calcium chloride solution (B2), and a solution with both of these salts (B3). They were then pre-cooked and frozen for 24 hours and for 30 days. After frying, sensory characteristics were analyzed (color, texture, flavor, oiliness), along with overall preference and instrumental determinations of texture, color, and oil content. Further tests were conducted on the sample with the best results in the sensory analysis (B1), along with sample P as a control, to determine granule microstructure, carbohydrate fractions, glycemic index, and glycemic load. Blanching B3, despite reducing oil absorption and providing less oiliness, obtained lesser overall preference. Freezing for 30 days increased the lightness, except for when sodium chloride was used, which intensified the color yellow. The use of sodium chloride did not interfere with the type of starch granules, nor with the formation of resistant starch; however, longer freezing time reduced the glycemic index and concentrated the dietary fiber content. All samples exhibited low glycemic index and moderate glycemic loads.

Becoming-singer : cartographies of singing, music-making and opera

Milla Tiaisen väitöskirja Becoming-singer : cartographies of singing, music-making and opera tarkastettiin Turun yliopistossa 28.4. Vastaväittäjänä toimi Professori Amy Herzog (CUNY) ja kustoksena professori John Richardson.

Searching for music archives and composition manuscripts from the Viola database

Music archives and composition manuscripts from the Viola database.

In search of good relationships to music : understanding aspiration and challenge in developing music school teacher practices

This study focuses on teacher practices in publicly funded music schools in Finland. As views on the aims of music education change and broaden, music schools across Europe share the challenge of developing their activities in response. In public and scholarly debate, there have been calls for increased diversity of contents and concepts of teaching. In Finland, the official national curriculum for state-funded music schools builds on the ideal that teaching and learning should create conditions which promote ‘a good relationship to music’. The meaning of this concept has been deliberately left open in order to leave room for dialogue, flexibility, and teacher autonomy. Since what is meant by ‘good’ is not defined in advance, the notion of ‘improving’ practices is also open to discussion. The purpose of the study is to examine these issues from teachers’ point of view by asking what music school teachers aim to accomplish as they develop their practices. Methodologically, the study introduces a suggestion for building empirical research on Alperson’s ‘robust’ praxial approach to music education, a philosophical theory which is strongly committed to practitioner perspectives and musical diversity. A systematic method for analysing music education practices, interpretive practice analysis, is elaborated with support from interpretive research methods originally used in policy analysis. In addition, the research design shows how reflecting conversations (a collaborative approach well-known in Nordic social work) can be fruitfully applied in interpretive research and combined with teacher inquiry. Data have been generated in a collaborative project involving five experienced music school teachers and the researcher. The empirical material includes transcripts from group conversations, data from teacher inquiry conducted within the project, and transcripts from follow-up interviews. The teachers’ aspirations can be understood as strivings to reinforce the connection between musical practices and various forms of human flourishing such that music and flourishing can sustain each other. Examples from their practices show how the word ‘good’ receives its meaning in context. Central among the teachers’ concerns is their hope that students develop a free and sustainable interest in music, often described as inspiration. I propose that ‘good relationships to music’ and ‘inspiration’ can be understood as philosophical mediators which support the transition from an indeterminate ‘interest in music’ towards specific ways in which music can become a (co-)constitutive part of living well in each person’s particular circumstances. Different musical practices emphasise different aspects of what is considered important in music and in human life. Music school teachers consciously balance between a variety of such values. They also make efforts to resist pressure which might threaten the goods they think are most important. Such goods include joy, participation, perseverance, solid musical skills related to specific practices, and a strong sense of vitality. The insights from this study suggest that when teachers are able to create inspiration, they seem to do so by performing complex work which combines musical and educational aims and makes general positive contributions to their students’ lives. Ensuring that teaching and learning in music schools remain as constructive and meaningful as possible for both students and teachers is a demanding task. The study indicates that collaborative, reflective and interdisciplinary work may be helpful as support for development processes on both individual and collective levels of music school teacher practices.

Publication Statistics Music recordings 1995-

Vapaakappalekartuntaan perustuva tilasto Suomessa julkaistuista musiikkiäänitteistä vuodesta 1995 lähtien

Publication Statistics Sheet Music 1991-

Vapaakappalekartuntaan perustuva tilasto Suomessa kustannetuista nuottijulkaisuista vuodesta 1991 lähtien