Search results for "Composite index"
showing 9 items of 9 documents
Relationship between Meditative Practice and Self-Reported Mindfulness: the MINDSENS Composite Index
2014
Mindfulness has been described as an inherent human capability that can be learned and trained, and its improvement has been associated with better health outcomes in both medicine and psychology. Although the role of practice is central to most mindfulness programs, practice-related improvements in mindfulness skills is not consistently reported and little is known about how the characteristics of meditative practice affect different components of mindfulness. the present study explores the role of practice parameters on self-reported mindfulness skills. A total of 670 voluntary participants with and without previous meditation experience (n = 384 and n = 286, respectively) responded to an…
SECULAR MEAN REVERSION AND LONG-RUN PREDICTABILITY OF THE STOCK MARKET
2016
Empirical financial literature documents the evidence of mean reversion in stock prices and the absence of out-of-sample return predictability over periods shorter than 10 years. The goal of this paper is to test the random walk hypothesis in stock prices and return predictability over periods longer than 10 years. Specifically, using 141 years of data, this paper begins by performing formal tests of the random walk hypothesis in the prices of the real S&P Composite Index over increasing time horizons up to 40 years. Even though our results cannot support the conventional wisdom which says that the stock market is safer for long-term investors, our findings speak in favor of the mean revers…
Measuring the presence of organized crime across Italian provinces: a sensitivity analysis
2020
AbstractThe existing literature identifies different indicators to construct organized crime indices and places equal importance to different concepts of organized crime. This paper examines the sensitivity of organized crime across Italian provinces when different set of indicators and weights are used to combine crime indicators. Our findings suggest that there is a remarkable variation in the distribution of organized crime across Italian provinces based on the choice of indicators and the importance given to different crime indicators. It is also found that the relationship of organized crime with socioeconomic and political factors varies depending on the normative choices made in the …
Net satisfaction: a different point of view on the measurement of subjective well-being
2013
Starting from the baffling relationship between satisfaction and importance in the evaluation of subjective well-being, this paper presents a new definition of satisfaction useful to build a composite index of subjective well-being. The index is proven on data from European Quality of Life Survey 2007 and compared with two of the standard literature approaches to measure satisfaction taking into account importance weighting.
Secular Mean Reversion and Long-Run Predictability of the Stock Market
2013
Empirical financial literature documents the evidence of mean reversion in stock prices and the absence of out-of-sample return predictability over periods shorter than 10 years. The goal of this paper is to test the random walk hypothesis in stock prices and return predictability over periods longer than 10 years. Specifically, using 141 years of data, this paper begins by performing formal tests of the random walk hypothesis in the prices of the real S&P Composite Index over increasing time horizons up to 40 years. Even though our results cannot support the conventional wisdom which says that the stock market is safer for long-term investors, our findings speak in favor of the mean revers…
Measuring investor sentiment in the stock market
2011
Recently, investor sentiment measures have become one of the more widely examined areas in behavioral finance. A number of measures have been developed in the literature without having been fully validated, and therefore leaving in question which measure should be used for empirical exploration. The purpose of this study is to examine the relative performance of a number of popular measures in predicting stock returns and to test the relative efficacy of a hybrid approach. Using a panel of investor sentiment measures, we develop a new measure of sentiment which combines direct and indirect sentiment measures. Our results show that our composite sentiment index affects the returns of stocks …
An assessment of energy vulnerability in Small Island Developing States
2020
Abstract Small Island Developing States (SIDS) suffer from several structural characteristics that jeopardize their ability to achieve a sustainable energy future. Their reliance on imported fossil fuels exacerbates their exposure to external threats on international energy markets. Their energy systems are also exposed to internal disturbances that disrupt the proper production, transmission and distribution of energy. The aim of this paper is to investigate the extent to which island energy systems are vulnerable to shocks and internal dysfunctions over which they have no control. For this purpose, we build a composite index of energy vulnerability using the Multi-Layer Benefit-of-the-Dou…
“Sensing” the destination: Development of the destination sensescape index
2021
Abstract Despite the increasing academic interest in the sensory dimension of the tourist experience, the quantitative empirical research in the field is limited by a lack of measurement instruments for evaluating the sensory stimuli perceived by tourists during a destination visit. The study addresses this gap by developing a composite index to assess the sensory destination panorama, termed as “destination sensescape”. The construct is conceptualised as a formative multidimensional variable with 5 dimensions (visualscape, smellscape, tastescape, soundscape, and hapticscape). The psychometric validity and reliability of the 17 items integrating the formative index were established by a rig…
Trading the Standard and Poor’s Composite Index
2017
This chapter utilizes the longest historical sample of data on the SP whether the choice of moving average influences the performance of trading rules; how accurately the trading rules identify the bullish and bearish stock market trends; whether there is any advantage in trading daily rather than monthly; and how persistent is the outperformance delivered by the moving average trading rules. The results of this study allow us to revisit the myths regarding the superior performance of the moving average trading rules in this well-known stock market and fully understand their advantages and disadvantages.