Historical performance of different auto manufacturers in the New Car Assessment Program tests. Report.

Mode of access: Internet.

Performance Persistence of International Stock Funds

People saving in mutual funds often look at historical performance before they decide which funds to invest in. The implicit assumption made is that superior performance is likely to be repeated in the future. The findings presented in this study, which investigates funds sold on the Swedish market, support such an approach provided that the time horizons are limited to one year. International stock funds that have performed strongly one year are likely to outperform their peers also the following years. But if the historical and future time horizons are extended to two or three years, the positive relationship between past and future performance vanishes in most cases. Persistence tests focusing on the aggregated performance of fund companies were also carried out. These tests produced results rather similar to those on the individual fund level.

The recent development and performance of ethical investments

In this chapter, we assess the recent development and performance of ethical investments around the world. Ethical investments include both socially responsible investments (following Environmental, Social and Governance criteria) and faith-based investments (following religious principles). After presenting the development of each type of funds in a historical context, we analyse their ethical screening process, highlighting similarities and differences across funds and regions. This leads us to investigate their characteristics in terms of return and risk, and finally evaluate their historical performance using various risk-adjusted performance measures on a small sample of US funds. Hence we are able to not only compare the performance of each fund with each other and with traditional investments, but also assess their relative resilience to the 2007-08 financial crisis.

Adaptive agent-based manufacturing control and its application to flow shop routing control

The manufacturing industry is currently facing unprecedented challenges from changes and disturbances. The sources of these changes and disturbances are of different scope and magnitude. They can be of a commercial nature, or linked to fast product development and design, or purely operational (e.g. rush order, machine breakdown, material shortage etc.). In order to meet these requirements it is increasingly important that a production operation be flexible and is able to adapt to new and more suitable ways of operating. This paper focuses on a new strategy for enabling manufacturing control systems to adapt to changing conditions both in terms of product variation and production system upgrades. The approach proposed is based on two key concepts: (1) An autonomous and distributed approach to manufacturing control based on multi-agent methods in which so called operational agents represent the key physical and logical elements in the production environment to be controlled - for example, products and machines and the control strategies that drive them and (2) An adaptation mechanism based around the evolutionary concept of replicator dynamics which updates the behaviour of newly formed operational agents based on historical performance records in order to be better suited to the production environment. An application of this approach for route selection of similar products in manufacturing flow shops is developed and is illustrated in this paper using an example based on the control of an automobile paint shop.

The Legacy of Oboist and Master Teacher, Robert Bloom

Robert Bloom (1908-1994) was legendary in the education and performance world. Often hailed as one of the last performers of the Golden Era of classical music and a favorite of conductors ranging from Stokowski to Stravinsky to Shaw, Bloom was an orchestral oboist and English hornist, oboe soloist, chamber musician, teacher (Eastman, Yale, Hartt, Manhattan School of Music, Juilliard and Philadelphia's University of the Arts), composer, conductor, editor of masterworks of the 18th century, and, as a founding member of the Bach Aria group, a seminal influence in the post-WWII revival of Baroque music in America. In The Robert Bloom Collection and the Art of Robert Bloom CD and video archives, we see what his musical ideals were in 1)18th-century performance practices, 2) writing new music for the instrument and commissioning new works, and 3) and transcribing music for the oboe and English horn. As an oboist, I believe it is important that Bloom's teachings, historical performance practices and ideas for expanding repertoire are propagated. Therefore, the works chosen for this dissertation illustrated this legacy. My recitals included 1) some of Bloom's published 18th-century baroque elaborations (his term for ornamentation), as well Baroque works which I have elaborated, 2) works written by him and by other oboists/composers (Labate, Roseman) as well as a flute/oboe duo that I commissioned by Dr. Marcus Maroney and 3) transcriptions by both Bloom and myself (Bach, Donizetti, Mendelssohn, Mozart, Handel, Schumann and Telemann). In these three dissertation recitals, I hope to have illustrated some of Robert Bloom's lasting contributions and impact on the oboe world, and to have demonstrated the potential for carrying forward this legacy by studying his teaching and emulating his example.

Perfiles de mercado de las 22 provincias de China

El presente trabajo investigativo constituye una herramienta de consulta para las personas y organizaciones interesadas en conocer el panorama actual de la situación comercial entre China y Colombia en busca de toma de decisiones acertadas en materia de negocios entre ambas naciones. En él se analizan en detalle cada una de las veintidós provincias de la República Popular China; en cuanto a panorama general; logística aérea, terrestre y marítima; partidas arancelarias y Top 10 de los productos importados por cada una de ellas desde Colombia. Este trabajo está enfocado en el estudio del comercio desde Colombia hacia China, actualizado al año 2012 y busca enseñar los productos líderes de importación, al igual que aquellos productos potenciales; de acuerdo a la información de su valor en dólares, su porcentaje de participación en el total importado y su comportamiento histórico en los últimos tres años. Así mismo se analizan los principales países proveedores de cada provincia y las diferentes partidas arancelarias a profundidad. Finalmente, se espera que el presente trabajo abra las puertas a un nuevo panorama acerca de oportunidades de negocio y alternativas comerciales a productos colombianos en China.

Persistence of UK Real Estate returns: a Markov chain analysis

The persistence of investment performance is a topic of perennial interest to investors. Efficient Markets theory tells us that past performance can not be used to predict future performance yet investors appear to be influenced by the historical performance in making their investment allocation decisions. The problem has been of particular interest to investors in real estate; not least because reported returns from investment in real estate are serially correlated thus implying some persistence in investment performance. This paper applies the established approach of Markov Chain analysis to investigate the relationship between past and present performance of UK real estate over the period 1981 to 1996. The data are analysed by sector, region and size. Furthermore some variations in investment performance classification are reported and the results are shown to be robust.

History of the Geelong Regional Commission

This thesis is the first systematic history of the Geelong Regional Commission (GRC), and only the second history of a regional development organisation formed as a result of the growth centres policy of the Commonwealth Labor Government in the first half of the 1970s. In particular, the thesis examines the historical performance of the GRC from the time of its establishment in August 1977 to its abolition in May 1993. The GRC Commissioners were subject to ongoing criticism by some elements of the region's political, business, rural and local government sectors. This criticism focused on the Commissioners' policies on land-use planning, their interventionist stance on industrial land development, major projects and industry protection and their activities in revitalising the Geelong central business district. This thesis examines these criticisms in the light of the Commission's overall performance. This thesis found that, as a statutory authority of the Victorian Government, the GRC was successful over its lifetime, when measured against the requirements of the Geelong Regional Commission Act, the Commission's corporate planning objectives and performance indicators, the corporate performance standards of private enterprise in the late 1990s, and the performance indicator standards of today's regional economic development organisations in the United States of America, parts of the United Kingdom and Australia. With the change of Government in Victoria in October 1992 came a new approach to regional development. The new Government enacted legislation to amalgamate six of the nine local government councils of the Geelong region and returned regional planning responsibilities to the newly formed City of Greater Geelong Council. The new Government also made economic development a major objective of local government. As a result, the raison d'etre for the GRC came to an end and the organisation was abolished.

Tendências nos desenhos de planos de benefícios nos fundos de pensão do ES

o trabalho discute os fatores que condicionaram a migração de planos de beneficios entre os Fundos de Pensão localizados no Estado do Espírito Santo. O mais antigo modelo de plano de beneficios implantado no Brasil, o plano de beneficio definido, tem características bastante vantajosas aos participantes, pois as empresas patrocinadoras assumem os riscos de desequilíbrio do plano, e os beneficios futuros são assegurados aos participantes. O segundo modelo, mais recente no país, tem como característica principal o fato de que o participante assume os riscos do plano, e os beneficios futuros dependem de diversos fatores, como rentabilidade, tempo de participação, entre outros, deixando de existir garantia aos participantes. Apesar disso, os Fundos de Pensão tem implantado processos de migração de planos de beneficio definido para contribuição definida com sucesso. O texto procura identificar as razões e conseqüências da migração, estabelecendo correlações entre os dois modelos, identificando suas diferenças e semelhanças, o papel exercido pelas empresas patrocinadoras e a estratégia de convencimento dos participantes. Pretende-se que as reflexões sobre esse processo possam contribuir para que os Fundos de Pensão e outros pesquisadores interessados possam ter um nível maior de compreensão e fundamentação sobre o assunto.

Mundo de medo: inquisição e cristãos-novos nos espaços coloniais capitanias de Pernambuco, Itamaracá e Paraíba (1593-1595)

Founded in 1536, the Court of the Holy Office of the Portuguese Inquisition was established as an ecclesiastical institution, but at the same time subordinate to the real powers. Among the main victims of persecution effected by the Holy Office, were the New Christians - Jews forcibly converted in 1497 or their descendants - that due to their socio-religious were repeatedly accused of heresy. This paper conducted a survey that sought to understand the historical performance of the Inquisition in Brazil in the sixteenth century on the New Christians, especially those accused of secretly retaining the religious customs of the Mosaic law, given the investigative and punitive procedures employed by the Inquisition as part of a set of actions that produce social insecurities and producers / broadcasters of fear in the populations under scrutiny. In this sense, the approach was based on the analysis of documents produced on the first visit of inspection performed in Brazil inquisitorial sixteenth century, concerning the captaincy of Pernambuco and Paraiba Itamaracá (1593-1595), not excluding, however, the sources of the first stage of visitation that occurred between 1591-1593 in the province of Bahia de Todos os Santos, even though its use is ancillary and punctual. The objective of this research was to understand the consequences of inquisitorial procedures generated on the imaginary, and the Inquisition, using the expressions and signs of fears relating to individuals contained in the New Christian complaints to the Holy Office as documentary evidence of the fear caused by the Holy Tribunal. The adoption of specific behaviors by the New Christians in the home - these spaces are appropriate and adapted to the detriment of the religious practices of Judaism features - characterizes the spatial perspective of the study, thus indicating a further objective of the study: to understand how the New Christians experienced domestic spaces in a historical context marked by behavioral surveillance generally considered morally condemned and suspected of heresy. The research was conducted to analyze the complaints and quantitative survey of some indices of documentation for the understanding of overall charges and how individuals New Christians were concerned with the domestic space, using them to maintain criptojudaica religiosity, transformed places housing often esnogas, makeshift synagogue for meetings and celebrations of Judaizing New Christians. The formulations of Michel de Certeau on appropriations and meanings of space - presented by the author in the metaphor of "practice areas" - were integrated into the workforce in order to understand the ways in which the New Christians appropriated the colonial houses, designed these spaces a very specific language in the Crypto, in which women are prominent figures. The works of Jean Delumeau and Bartholomé Benassar integrate the discussion of the Inquisition and the sensibilities of fear in the work performed. The analysis allowed the documentation to understand the meaning and the extent related to the general fear that the Inquisition represented. Some complaints are indicative of fears that can be perceived implicitly based on behaviors and attitudes adopted by the New Christians, others, however, are direct expressions of fear caused by allusion or initiative of the actions of the Inquisition in colonial Brazil in the sixteenth century

Cooperação e apoio técnico entre estado e municípios: a experiência do programa articuladores da atenção básica em São Paulo

Com os processos de regionalização no final dos anos 1990, os estados iniciam um resgate de seu papel político para enfrentamento da fragmentação do sistema público de saúde. Nesse processo, as secretarias estaduais de saúde, representadas pelo Conselho Nacional de Secretários de Saúde, passam a redefinir as funções do Estado junto à Atenção Básica. Na histórica atuação da Secretária de Estado da Saúde de São Paulo (SES-SP) na atenção primária, uma das marcas refere-se à expertise profissional nesse campo, que com o processo de municipalização migrou para os municípios, especialmente os de maior porte, ou redefiniu suas áreas de atuação no interior da própria SES-SP, em áreas como a vigilância epidemiológica e sanitária, a de avaliação e controle, entre outras. Esse capital humano foi em parte resgatado a partir de 2009, com o Programa Articuladores de Atenção Básica. O Programa representa uma política de apoio da SES-SP para os municípios, priorizando aqueles com população inferior a 100 mil habitantes, com o objetivo de auxiliar os gestores municipais na qualificação dos serviços de Atenção Básica e fortalecer esse nível de atenção no sistema público de saúde. Toma como objeto de trabalho o reconhecimento de prioridades de saúde locais e dos obstáculos para a melhoria da atenção à saúde, na construção conjunta de estratégias e alternativas de enfrentamento dos problemas identificados. Este artigo apresenta o processo de implantação desse Programa, bem como alguns resultados referentes às principais frentes de atuação desses profissionais na busca da qualificação da atenção básica no estado.

Self-adaptive volunteered services composition through stimulus-and time-awareness

Volunteered Service Composition (VSC) refers to the process of composing volunteered services and resources. These services are typically published to a pool of voluntary resources. Selection and composition decisions tend to encounter numerous uncertainties: service consumers and applications have little control of these services and tend to be uncertain about their level of support for the desired functionalities and non-functionalities. In this paper, we contribute to a self-awareness framework that implements two levels of awareness, Stimulus-awareness and Time-awareness. The former responds to basic changes in the environment while the latter takes into consideration the historical performance of the services. We have used volunteer service computing as an example to demonstrate the benefits that self-awareness can introduce to self-adaptation. We have compared the Stimulus-and Time-awareness approaches with a recent Ranking approach from the literature. The results show that the Time-awareness level has the advantage of satisfying higher number of requests with lower time cost.

Colombian mutual funds that invest in stocks: Do they create value?

Esta investigación evalúa el desempeño de 73 fondos de inversión colectiva (FIC) colombianos enfocados en acciones de 2005 a 2015 -- Para cuantificar el valor generado por estos fondos en comparación con sus respectivos activos de referencia (“benchmarks”), se calcula el alfa de Jensen mediante dos metodologías de regresión: Mínimos Cuadrados Ordinarios (MCO) y Regresión por Cuantiles -- También se analiza si estos fondos muestran evidencia de “market timing” o no, utilizando dos modelos: efecto cuadrático y variable binaria interactiva -- De igual manera, nuestro estudio propone la creación de una empresa privada en Colombia que provea a los inversores de información precisa sobre las características y desempeño histórico de estos fondos de inversión colectiva, como lo hace Morningstar Inc. en Estados Unidos -- Esto permitiría a los inversores seleccionar los fondos con mejores perspectivas y, como es de esperarse, haría este mercado más eficiente y atractivo para nuevos inversores potenciales

The cooling steam of the Polar Express : historical origins, properties and implications of performance capture

As the first academically rigorous interrogation of the generation of performance within the global frame of the motion capture volume, this research presents a historical contextualisation and develops and tests a set of first principles through an original series of theoretically informed, practical exercises to guide those working in the emergent space of performance capture. It contributes a new understanding of the framing of performance in The Omniscient Frame, and initiates and positions performance capture as a new and distinct interdisciplinary discourse in the fields of theatre, animation, performance studies and film.