In tests of long-term performance, researchers are faced with several research design choices. For instance, when estimating abnormal returns, what specific firm characteristics should be used as matching criteria to select control firms? What weights should be placed on each characteristic? Should an event firm be matched with one control firm or multiple control firms or with a reference port...

Since World War II, the United States has experienced two large booms on the stock market. During the first boom, which lasted from the late 1940s to the mid-1960s, stock returns were clearly leading real activity. Moreover, the evidence also suggests the existence of predictable return variations in the discount rate through time as a response to changing business conditions. Therefore, the fi...

Investors’concerns about systematic volatility risk explain a large portion of the small …rm premia in the long run. This novel …nding supports the concept of market e¢ ciency and indicates a “‡ight to quality”during recessions: investors shift their preferences away from small …rms, which are considered as being relatively risky. Instead they use large, “quality”stocks, whose returns co-vary p...

LUPUS CYSTITIS : A REPORT OF FOUR CASES Katsuhiko TAKABAYASHI, MD, Makoto SUEISHI, MD, Hisao TOMIOKA, MD, Terue IMAIZUMI, MD and Sho YOSHIDA, MD The Second Department of Internal Medicine, School of Medicine, Chiba University, Chiba Takao SUGIYAMA, MD Department of Internal Medicine, Kashima-Rousai Hospital, Hasaki Akira KIMURA, MD Department of Internal Medicine, Asahi General Hospital, Asahi ...

This paper proposes measures of systematic skewness and systematic kurtosis as symmetric measures of risk by extending the work of Kraus and Litzenberg (1976). We examine an asset pricing model that incorporates systematic skewness and systematic kurtosis to test the cross section of asset returns within the context of the Fama and MacBeth (1973) two-pass estimation methodology. However, this e...

The m-order connectivity index (G) m of a graph G is     1 2 1 1 2 1 ... ... 1 ( ) i i im m v v v i i i m d d d  G where 1 2 1 ... i i im d d d  runs over all paths of length m in G and i d denotes the degree of vertex i v . Also,        1 2 1 1 2 1 ... ... 1 ( ) i i im m v v v i i i ms d d d X G is its m-sum connectivity index. A dendrimer is an artificially manufactured or synth...

Background: Darier disease (DD) is an autosomal dominant genetic disorder which develops from a mutation in the ATP2A2 gene. Inflammatory myopathies (IM) are the largest group of potentially treatable myopathies. In this case, we report development of IM in a patient with DD for the second time in the literature. Case presentation: The patient is a 59-year-old female, a known case of  DD,...

Daily stock returns typically have non-normal and asymmetric distributions, potentially leading to problems with hypothesis testing based on reported probability statistics from regression analysis (Fama 1976; Brooks 2002). While daily stock return data for many years is readily available, recent studies indicate that the non-normality problems may persist even in large samples (Peiro 2002; Bro...