Financial stocks and political bonds: stock market participation and political behavior in the United States and Britain

This dissertation investigates the effect of stock market participation on political behavior. Some observers claim that financial assets—stocks and mutual funds—have a causal effect on political behavior. The “investor class theory” asserts that as people invest in the stock market their partisan attachments shift rightward. The “asset effect theory” claims that financial investments increase political interest and participation. I examine these claims with longitudinal data from the United States and Great Britain covering a twenty-year period from the early 1980s through the mid-2000’s. I also examine the effect of financial asset ownership on political attitudes in the United States during the 2008 stock market crash. I find no evidence to support the argument that stock market participation has any causal effect on partisanship, participation, or political attitudes.

Preguntas a la desigualdad. Ensayos sobre análisis de clase, socialismo y marxismo

Este texto comienza con un ensayo autobiográfico que explora los retos y beneficios de lo que implica ser un académico marxista en este tiempo. A este ensayo le sigue una discusión sobre varios temas del análisis de clase, con particular énfasis en dos temas: las clases y la desigualdad, y la relación entre clase y poder. La segunda sección aborda el tema del socialismo como posible futuro del capitalismo. Su autor procura clarificar el estatus conceptual del socialismo y discute las razones por las que ciertas reformas, tales como los subsidios básicos universales, en últimas no podrían realizarse por completo sin la introducción de alguna forma de socialismo. Preguntas a la desigualdad concluye con un examen del problema general del marxismo, en tanto que tradición radical de la teoría social. Allí se discuten tres temas en particular: los principios fundamentales del marxismo analítico como estrategia para reconstruir el marxismo como teoría social científica; la relación entre el marxismo y el feminismo como teorías sociales emancipadoras y las perspectivas del marxismo tras el colapso de los regímenes comunistas.

The interaction of volatility, volume and skewness: empirical evidence from REITs

This paper considers how trading volume impacts upon the first three moments of REIT returns. Consistent with previous studies of the broader stock market, we find that volume is a significant factor with respect to both returns and volatility. We also find evidence supportive of the Hong & Stein’s (2003) Investor Heterogeneity Theory with respect to the finding that skewness in REIT index returns is significantly related to volume. Furthermore, we also report findings that show the influence of the variability of volume with skewness.

Orientations in Time: Music and the Construction of Historical Narrative in 20th and 21st Century African-American Literature

Thesis (Ph.D.)--University of Washington, 2016-06

Market anomalies and tactical asset allocation: Utilising market anomalies in multiple asset class portfolios with the Black−Litterman model

This thesis discusses the basic problem of the modern portfolio theory about how to optimise the perfect allocation for an investment portfolio. The theory provides a solution for an efficient portfolio, which minimises the risk of the portfolio with respect to the expected return. A central feature for all the portfolios on the efficient frontier is that the investor needs to provide the expected return for each asset. Market anomalies are persistent patterns seen in the financial markets, which cannot be explained with the current asset pricing theory. The goal of this thesis is to study whether these anomalies can be observed among different asset classes. Finally, if persistent patterns are found, it is investigated whether the anomalies hold valuable information for determining the expected returns used in the portfolio optimization Market anomalies and investment strategies based on them are studied with a rolling estimation window, where the return for the following period is always based on historical information. This is also crucial when rebalancing the portfolio. The anomalies investigated within this thesis are value, momentum, reversal, and idiosyncratic volatility. The research data includes price series of country level stock indices, government bonds, currencies, and commodities. The modern portfolio theory and the views given by the anomalies are combined by utilising the Black-Litterman model. This makes it possible to optimise the portfolio so that investor’s views are taken into account. When constructing the portfolios, the goal is to maximise the Sharpe ratio. Significance of the results is studied by assessing if the strategy yields excess returns in a relation to those explained by the threefactormodel. The most outstanding finding is that anomaly based factors include valuable information to enhance efficient portfolio diversification. When the highest Sharpe ratios for each asset class are picked from the test factors and applied to the Black−Litterman model, the final portfolio results in superior riskreturn combination. The highest Sharpe ratios are provided by momentum strategy for stocks and long-term reversal for the rest of the asset classes. Additionally, a strategy based on the value effect was highly appealing, and it basically performs as well as the previously mentioned Sharpe strategy. When studying the anomalies, it is found, that 12-month momentum is the strongest effect, especially for stock indices. In addition, a high idiosyncratic volatility seems to be positively correlated with country indices on stocks.

An exploration of transformation theory and the western tradition: a critical evaluation of a graduate studies class

This qualitative study is an exploration of transformation theory, the Western tradition, and a critical evaluation of a graduate studies class at a university. It is an exploration of assumptions that are embedded in experience, that influence the experience and provide meaning about the experience. An attempt has been made to identify assumptions that are embedded in Western experience and connect them with assumptions that shape the graduate class experience. The focus is on assumptions that facilitate and impede large group discussions. Jungian psychology of personality type and archetype and developmental psychology is used to analyze the group experience. The pragmatic problem solving model, developed by Knoop, is used to guide thinking about the Western tradition. It is used to guide the analysis, synthesis and writing of the experience of the graduate studies class members. A search through Western history, philosophy. and science revealed assumptions about the nature of truth, reality, and the self. Assumptions embedded in Western thinking about the subject-object relationship, unity and diversity are made explicit. An attempt is made to identify Western tradition assumptions underlying transformation theory. The critical evaluation of the graduate studies class experience focuses upon issues associated with group process, self-directed learning, the educator-learner transaction and the definition of adult education. The advantages of making implicit assumptions explicit is explored.

SPECTRUM OF SCREENING MASSES FOR SU(2) GAUGE THEORY: UNIVERSALITY CLASS

In this work we study the spectrum of the lowest screening masses for Yang-Mills theories on the lattice. We used the SU(2) gauge group in (3 + 1) dmensions. We adopted the multiple exponential method and the so-called ""variational"" method, in order to detect possible excited states. The calculations were done near the critical temperature of the confinement-deconfinement phase transition. We obtained values for the ratios of the screening masses consistent with predictions from universality arguments. A Monte Carlo evolution of the screening masses in the gauge theory confirms the validity of the predictions.

Composition and invertibility for a class of generalized functions in the Colombeau's theory

In this work we define the composite function for a special class of generalized mappings and we study the invertibility for a certain class of generalized functions with real values.

Composition for a class of generalized functions in Colombeau's theory

In Colombeau's theory, given an open subset Ω of ℝn, there is a differential algebra G(Ω) of generalized functions which contains in a natural way the space D′(Ω) of distributions as a vector subspace. There is also a simpler version of the algebra G,(Ω). Although this subalgebra does not contain, in canonical way, the space D′(Ω) is enough for most applications. This work is developed in the simplified generalized functions framework. In several applications it is necessary to compute higher intrinsic derivatives of generalized functions, and since these derivatives are multilinear maps, it is necessary to define the space of generalized functions in Banach spaces. In this article we introduce the composite function for a special class of generalized mappings (defined in open subsets of Banach spaces with values in Banach spaces) and we compute the higher intrinsic derivative of this composite function.

Cephalometric effects of the use of 10-hour Force Theory for Class II treatment

OBJECTIVE: This study aimed to evaluate the cephalometric effects promoted by the orthodontic treatment of Class II malocclusion patients with the use of the 10-Hour Force Theory, that consists in the use of fixed appliances with 8 hours a day using a cervical headgear appliance and 16 hours a day using Class II elastics, 8 hours on the first mandibular molar and 8 hours in the second mandibular molar. METHODS: Sample comprised 31 patients with mean initial age of 14.90 years, final mean age of 17.25 years and mean treatment time of 2.35 years. The lateral cephalograms in pre-treatment and post-treatment stages were evaluated. Evaluation of cephalometric changes between initial and final treatment phases was performed by paired t test. RESULTS: The cases treated with the 10-Hour Force Theory presented a slight restriction of anterior displacement of the maxilla, increase in the effective length of the mandible, significant improvement of the maxillomandibular relationship, significant increase in anterior lower face height, distal tipping of the maxillary premolar crowns, extrusion and distal tipping of the roots of maxillary molars, significant proclination and protrusion of mandibular incisors, significant extrusion and mesialization of mandibular molars, besides a significant correction of the molar relationship, overjet and overbite. CONCLUSION: The use of the 10-Hour Force Theory in treatment of Class II malocclusion provided satisfactory results.

The theory and practice of musical form : on the basis of Ludwig Bussler's "Musikalische Formenlehre," for instruction in composition both in private and in class /

Includes bibliographical references and index.

Henselian Discrete Valued Fields Admitting One-Dimensional Local Class Field Theory

2000 Mathematics Subject Classification: 11S31 12E15 12F10 12J20.

On the mixing property for a class of states of relativistic quantum fields

Let omega be a factor state on the quasilocal algebra A of observables generated by a relativistic quantum field, which, in addition, satisfies certain regularity conditions [satisfied by ground states and the recently constructed thermal states of the P(phi)(2) theory]. We prove that there exist space- and time-translation invariant states, some of which are arbitrarily close to omega in the weak * topology, for which the time evolution is weakly asymptotically Abelian. (C) 2010 American Institute of Physics. [doi: 10.1063/1.3372623]