807 resultados para Hold
Resumo:
Research on the production of relative clauses (RCs) has shown that in English, although children start using intransitive RCs at an earlier age, more complex, bi-propositional object RCs appear later (Hamburger & Crain, 1982; Diessel and Tomasello, 2005), and children use resumptive pronouns both in acceptable and unacceptable ways (McKee, McDaniel, & Snedeker, 1998; McKee & McDaniel, 2001). To date, it is unclear whether or not the same picture emerges in Turkish, a language with an SOV word-order and overt case marking. Some studies suggested that subject RCs are more frequent in adults and children (Slobin, 1986) and yield a better performance than object RCs (Özcan, 1996), but others reported the opposite pattern (Ekmekçi, 1990). Our study addresses this issue in Turkish children and adults, and uses participants’ errors to account for the emerging asymmetry between subject and object RCs. 37 5-to-8 year old monolingual Turkish children and 23 adult controls participated in a novel elicitation task involving cards, each consisting of four different pictures (see Figure 1). There were two sets of cards, one for the participant and one for the researcher. The former had animals with accessories (e.g., a hat) whereas the latter had no accessories. Participants were instructed to hold their card without showing it to the researcher and describe the animals with particular accessories. This prompted the use of subject and object RCs. The researcher had to identify the animals in her card (see Figure 2). A preliminary repeated measures ANOVA with the factor Group (pre-school, primary-school children) showed no differences between the groups in the use of RCs (p>.1), who were therefore collapsed into one for further analyses. A repeated measures ANOVA with the factors Group (children, adults) and RC-Type (Subject, Object) showed that children used fewer RCs than adults (F(1,58)=7.54, p<.01), and both groups used fewer object than subject RCs (F(1,58)=22.46, p<.001), but there was no Group by RC-Type interaction (see Figure 3). A similar ANOVA on the rate of grammatical RCs showed a main effect of Group (F(1,58)=77.25, p<.001), a main effect of RC-Type (F(1,58)=66.33, p<.001), and an interaction of Group by RC-Type (F(1,58)=64.6, p<.001) (see Figure 4). Children made more errors than adults in object RCs (F(1,58)=87.01, p<.001), and children made more errors in object compared to subject RCs (F(1,36)=106.35, p<.001), but adults did not show this asymmetry. The error analysis revealed that children systematically avoided the object-relativizing morpheme –DIK, which requires possessive agreement with the genitive-marked subject. They also used resumptive pronouns and resumptive full-DPs in the extraction site similarly to English children (see Figure 5). These findings are in line with Slobin (1986) and Özcan (1996). Children’s errors suggest that they avoid morphosyntactic complexity of object RCs and try to preserve the canonical word order by inserting resumptive pronouns in the extraction site. Finally, cross-linguistic similarity in the acquisition of RCs in typologically different languages suggests a higher accessibility of subject RCs both at the structural (Keenan and Comrie, 1977) and conceptual level (Bock and Warren, 1986).
Resumo:
Ethnographic methodologies developed in social anthropology and sociology hold considerable promise for addressing practical, problem-based research concerned with the construction site. The extended researcher-engagement characteristic of ethnography reveals rich insights, yet is infrequently used to understand how workplace realities are lived out on construction sites. Moreover, studies that do employ these methods are rarely reported within construction research journals. This paper argues that recent innovations in ethnographic methodologies offer new routes to: posing questions; understanding workplace socialities (i.e. the qualities of the social relationships that develop on construction sites); learning about forms, uses and communication of knowledge on construction sites; and turning these into meaningful recommendations. This argument is supported by examples from an interdisciplinary ethnography concerning migrant workers and communications on UK construction sites. The presented research seeks to understand how construction workers communicate with managers and each other and how they stay safe on site, with the objective of informing site health-and-safety strategies and the production and evaluation of training and other materials.
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This paper introduces a new neurofuzzy model construction algorithm for nonlinear dynamic systems based upon basis functions that are Bezier-Bernstein polynomial functions. This paper is generalized in that it copes with n-dimensional inputs by utilising an additive decomposition construction to overcome the curse of dimensionality associated with high n. This new construction algorithm also introduces univariate Bezier-Bernstein polynomial functions for the completeness of the generalized procedure. Like the B-spline expansion based neurofuzzy systems, Bezier-Bernstein polynomial function based neurofuzzy networks hold desirable properties such as nonnegativity of the basis functions, unity of support, and interpretability of basis function as fuzzy membership functions, moreover with the additional advantages of structural parsimony and Delaunay input space partition, essentially overcoming the curse of dimensionality associated with conventional fuzzy and RBF networks. This new modeling network is based on additive decomposition approach together with two separate basis function formation approaches for both univariate and bivariate Bezier-Bernstein polynomial functions used in model construction. The overall network weights are then learnt using conventional least squares methods. Numerical examples are included to demonstrate the effectiveness of this new data based modeling approach.
Resumo:
Since 1966, coded orthogonal frequency division multiplexing (COFDM) has been investigated to determine the possibility of reducing the overall throughput of a digitally modulated terrestrial television channel. In the investigations, many assumptions have emerged. One common misconception is that in a terrestrial environment, COFDM has an inherent immunity to multipath interference. A theoretical analysis of a multipath channel, along with simulation results has shown that this assumption does not hold the information is considered when including the radio frequency modulation and demodulation. This paper presents a background into the inception of COFDM, a mathematical analysis of the digitally modulated television signal under multipath conditions and the results of a European Digital Video Broadcasting-Terrestrial (DVB-T) compliant simulation model with MPEG-2 bitstreams transmitted under various multipath conditions.
Resumo:
*** Purpose – Computer tomography (CT) for 3D reconstruction entails a huge number of coplanar fan-beam projections for each of a large number of 2D slice images, and excessive radiation intensities and dosages. For some applications its rate of throughput is also inadequate. A technique for overcoming these limitations is outlined. *** Design methodology/approach – A novel method to reconstruct 3D surface models of objects is presented, using, typically, ten, 2D projective images. These images are generated by relative motion between this set of objects and a set of ten fanbeam X-ray sources and sensors, with their viewing axes suitably distributed in 2D angular space. *** Findings – The method entails a radiation dosage several orders of magnitude lower than CT, and requires far less computational power. Experimental results are given to illustrate the capability of the technique *** Practical implications – The substantially lower cost of the method and, more particularly, its dramatically lower irradiation make it relevant to many applications precluded by current techniques *** Originality/value – The method can be used in many applications such as aircraft hold-luggage screening, 3D industrial modelling and measurement, and it should also have important applications to medical diagnosis and surgery.
Resumo:
Many recent papers have documented periodicities in returns, return volatility, bid–ask spreads and trading volume, in both equity and foreign exchange markets. We propose and employ a new test for detecting subtle periodicities in time series data based on a signal coherence function. The technique is applied to a set of seven half-hourly exchange rate series. Overall, we find the signal coherence to be maximal at the 8-h and 12-h frequencies. Retaining only the most coherent frequencies for each series, we implement a trading rule that is based on these observed periodicities. Our results demonstrate in all cases except one that, in gross terms, the rules can generate returns that are considerably greater than those of a buy-and-hold strategy, although they cannot retain their profitability net of transactions costs. We conjecture that this methodology could constitute an important tool for financial market researchers which will enable them to detect, quantify and rank the various periodic components in financial data better.
Resumo:
We examine whether a three-regime model that allows for dormant, explosive and collapsing speculative behaviour can explain the dynamics of the S&P 500. We extend existing models of speculative behaviour by including a third regime that allows a bubble to grow at a steady rate, and propose abnormal volume as an indicator of the probable time of bubble collapse. We also examine the financial usefulness of the three-regime model by studying a trading rule formed using inferences from it, whose use leads to higher Sharpe ratios and end of period wealth than from employing existing models or a buy-and-hold strategy.
Resumo:
The number of properties to hold to achieve a well-diversified real estate property portfolio presents a puzzle, as the estimated number is considerably higher than that seen in actual portfolios. However, Statman (1987) argues that investors should only increase the number of holdings as long as the marginal benefits of diversification exceed their costs. Using this idea we find that the marginal benefits of diversification in real estate portfolios are so small that investors are probably rational in holding small portfolios, at least as far as the reduction in standard deviation is concerned.
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There is widespread evidence that the volatility of stock returns displays an asymmetric response to good and bad news. This article considers the impact of asymmetry on time-varying hedges for financial futures. An asymmetric model that allows forecasts of cash and futures return volatility to respond differently to positive and negative return innovations gives superior in-sample hedging performance. However, the simpler symmetric model is not inferior in a hold-out sample. A method for evaluating the models in a modern risk-management framework is presented, highlighting the importance of allowing optimal hedge ratios to be both time-varying and asymmetric.
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This paper investigates the frequency of extreme events for three LIFFE futures contracts for the calculation of minimum capital risk requirements (MCRRs). We propose a semiparametric approach where the tails are modelled by the Generalized Pareto Distribution and smaller risks are captured by the empirical distribution function. We compare the capital requirements form this approach with those calculated from the unconditional density and from a conditional density - a GARCH(1,1) model. Our primary finding is that both in-sample and for a hold-out sample, our extreme value approach yields superior results than either of the other two models which do not explicitly model the tails of the return distribution. Since the use of these internal models will be permitted under the EC-CAD II, they could be widely adopted in the near future for determining capital adequacies. Hence, close scrutiny of competing models is required to avoid a potentially costly misallocation capital resources while at the same time ensuring the safety of the financial system.
Resumo:
The recent global economic crisis is often associated with the development and pricing of mortgage-backed securities (i.e. MBSs) and underlying products (i.e. sub-prime mortgages). This work uses a rich database of MBS issues and represents the first attempt to price commercial MBSs (i.e. CMBSs) in the European market. Our results are consistent with research carried out in the US market and we find that bond-, mortgage-, real estate-related and multinational characteristics show different degrees of significance in explaining European CMBS spreads at issuance. Multiple linear regression analysis using a databank of CMBSs issued between 1997 and 2007 indicates a strong relationship with bond-related factors, followed by real estate and mortgage market conditions. We also find that multinational factors are significant, with country of issuance, collateral location and access to more liquid markets all being important in explaining the cost of secured funding for real estate companies. As floater coupon tranches tend to be riskier and exhibit higher spreads, we also estimate a model using this sub-set of data and results hold, hence reinforcing our findings. Finally, we estimate our model for both tranches A and B and find that real estate factors become relatively more important for the riskier investment products.
Resumo:
Property portfolio diversification takes many forms, most of which can be associated with asset size. In other words larger property portfolios are assumed to have greater diversification potential than small portfolios. In addition, since greater diversification is generally associated with lower risk it is assumed that larger property portfolios will also have reduced return variability compared with smaller portfolios. If large property portfolios can simply be regarded as scaled-up, better-diversified versions of small property portfolios, then the greater a portfolio’s asset size, the lower its risk. This suggests a negative relationship between asset size and risk. However, if large property portfolios are not simply scaled-up versions of small portfolios, the relationship between asset size and risk may be unclear. For instance, if large portfolios hold riskier assets or pursue more volatile investment strategies, it may be that a positive relationship between asset size and risk would be observed, even if large property portfolios are more diversified. This paper tests the empirical relationship between property portfolio size, diversification and risk, in Institutional portfolios in the UK, during the period from 1989 to 1999 to determine which of these two characterisations is more appropriate.
Resumo:
The Cold War in the late 1940s blunted attempts by the Truman administration to extend the scope of government in areas such as health care and civil rights. In California, the combined weakness of the Democratic Party in electoral politics and the importance of fellow travelers and communists in state liberal politics made the problem of how to advance the left at a time of heightened Cold War tensions particularly acute. Yet by the early 1960s a new generation of liberal politicians had gained political power in the Golden State and was constructing a greatly expanded welfare system as a way of cementing their hold on power. In this article I argue that the New Politics of the 1970s, shaped nationally by Vietnam and by the social upheavals of the 1960s over questions of race, gender, sexuality, and economic rights, possessed particular power in California because many activists drew on the longer-term experiences of a liberal politics receptive to earlier anti-Cold War struggles. A desire to use political involvement as a form of social networking had given California a strong Popular Front, and in some respects the power of new liberalism was an offspring of those earlier battles.
Resumo:
Scientists hold a wide range of beliefs on matters of religion, although popular media coverage in the UK commonly suggests that atheism is a core commitment for scientists. Considering the relationship between religion and science is a recommended topic in the English National Curriculum for lower secondary pupils (11-14 year-olds), and it is expected that different perspectives will be considered. However it is well established that many pupils may have difficulty accessing sophisticated ideas about the nature of science, and previous research suggests some may identify science with scientism. To explore pupil impressions of the relationship between science and religion, 13-14 year old pupils were surveyed in one class from each of four English secondary schools, by asking them to rate a set of statements about the relationship between science and religion, and scientific and religious perspectives on the origins of the world, and of life on earth, on the value of prayer and on the status of miracles. The survey revealed diverse views on these issues, reflecting the wider society. However it was found that a considerable proportion of the pupils in the sample considered religious beliefs and scientific perspectives to be opposed. The basis and potential consequences of such views are considered, and the need for more attention to this area of student thinking is highlighted.
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This paper uses an entropy-based information approach to determine if farmland values are more closely associated with urban pressure or farm income. The basic question is: how much information on changes in farm real estate values is contained in changes in population versus changes in returns to production agriculture? Results suggest population is informative, but changes in farmland values are more strongly associated with changes in the distribution of returns. However, this relationship is not true for every region nor does it hold over time, as for some regions and time periods changes in population are more informative. Results have policy implications for both equity and efficiency.