963 resultados para TRANSVERSE-MOMENTUM DISTRIBUTIONS


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We examined the relationships between environmental variations in lotic ecosystems with the seasonal dynamics of macroalgae communities at different spatial scales: drainage basin of two rivers (Rio das Pedras and Rio Marrecas), shading (open and shaded stream segments), mesohabitat (riffles and pools), and microhabitats. Data collections were made on a monthly basis between January and December/2007. A total of 16 taxa were encountered (13 species and 3 vegetative groups). All of the biotic parameters (richness, abundance, diversity, equitability, and dominance) were found to be highly variable at all of the spatial scales evaluated. On the other hand, abiotic variables demonstrated differences only at mesohabitat (in terms of current velocity) and shaded habitat (in terms of irradiance) scales. The seasonality of the macroalgae community structure was strongly influenced by microhabitat variables (current velocity, substrate H', and irradiance), demonstrating their importance over time and at different scales. Regional variables (temperature, oxygen saturation, specific conductance, pH, and turbidity) were found to have little influence on the temporal dynamics of the macroalgae communities evaluated.

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This thesis investigates the performance of value and momentum strategies in the Swedish stock market during the 2000-2015 sample period. In addition the performance of some value and value-momentum combination is examined. The data consists of all the publicly traded companies in the Swedish stock market between 2000-2015. P/E, P/B, P/S, EV/EBITDA, EV/S ratios and 3, 6 and 12 months value criteria are used in the portfolio formation. In addition to single selection criteria, combination of P/E and P/B (aka. Graham number), the average ranking of the five value criteria and EV/EBIT – 3 month momentum combination is used as a portfolio-formation criterion. The stocks are divided into quintile portfolios based on each selection criterion. The portfolios are reformed once a year using the April’s price information and previous year’s financial information. The performance of the portfolios is examined based on average annual return, the Sharpe ratio and the Jensen alpha. The results show that the value-momentum combination is the best-performing portfolio both during the whole sample period and during the sub-period that started after the 2007-financial crisis.

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Tämän kandidaatintutkielman tarkoituksena on perehtyä momentum-anomaliaan ja sen esiintymiseen Tukholman pörssissä. Anomalian tunnistamisen lisäksi tutkitaan sen ajallista esiintymistä sekä anomaliaa tarkastelevien portfolioiden tuottoja suhteessa markkinoihin. Tutkimuksen aineisto koostuu Tukholman pörssissä julkisesti noteerattujen yritysten osakkeiden tuottoaikasarjasta heinäkuusta 2010 kesäkuuhun 2015.

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Ancien possesseur : Argenson, Antoine-René de Voyer (1722-1787 ; marquis de Paulmy d')