Search results for "Return"
showing 10 items of 354 documents
Statistical distribution of soil loss and sediment yield at Sparacia experimental area, Sicily
2010
Abstract An analysis of the statistical distribution of event soil loss was carried out using the data collected in the period 1999–2008 at the microplots and plots of the Sparacia experimental area (Sicily, Italy). For a given microplot size, the analysis allowed to establish that the soil loss frequency distribution was skewed. Using the soil loss normalized by the event mean value, the analysis also showed that the frequency distributions corresponding to different microplot and plot sizes were overlapping, i.e. all distributions were extracted by the same statistical population. The developed analysis allowed to suggest that the soil loss of a given return period can be estimated using …
A diachronic analysis of estuarine turbidity due to a flood following an extreme rainfall event
2011
During floods following rainfall events characterized by long return period, rivers bring to their mouths the higher concentration of sediments. This paper deals with a qualitative assessment of coastal water and turbidity load in estuarine waters as a consequence of an intense rainfall event occurred on the 16t h and 17 th September 2003 in the eastern part of Sicily. Although empirical relationships to estimate turbidity using remote sensing can be found in literature, however models parameters need to be calibrated through in situ measures acquired via intensive field campaigns. The algorithm used within this research was calibrated using field data acquired during three periods in 2008 …
Back to School : Labor-Market Returns to Higher Vocational Schooling
2019
This paper examines the labor-market returns to a new form of postsecondary vocational education: vocational master's degrees. We use individual fixed effects models on a matched sample of students and non-students from Finland to capture any time-invariant differences across individuals. We find that attendance in vocational master's programs leads to an earnings increase of more than seven percent five years after entry. The estimated effect remains positive even if selection on unobservables is twice as strong as selection on observables. Earnings gains are similar by gender and age, but they are marginally higher for those in the health sector than for those in the business or technolog…
Identità e territori, abbandoni e ritorni
2020
Il contributo riflette sulle identità dei territori, e su come queste siano in grado di orientare certe dinamiche all’interno delle comunità, sul fenomeno dello spopolamento e degli abbandoni – problema che negli ultimi tempi, soprattutto nel Meridione italiano, è al centro del dibattito politico e scientifico – e sul caso specifico di Mamoiada, comune della Sardegna interna che, sino agli anni Novanta del secolo scorso, ha scontato un importante decremento della popolazione e una forte disgregazione sociale dovuti in massima parte ai fatti criminali che si sono succeduti per più di trent’anni e oggi, come la quasi totalità dei comuni delle aree interne, si confronta con la denatalità, l’in…
Measuring Uncertainty in the Portfolio Selection Problem
2018
In this paper, we propose a new index for ranking portfolios based on the credibility expected return and loss on their investment. We assume that the return on a given portfolio is modeled as a trapezoidal fuzzy variable, whose credibility distribution is built using the data set of its historical returns. The credibilistic loss on the investment for a given portfolio is measured by means of a suitable loss function. In order to take risk-adverse investor attitudes into account, we analyze the performance of some credibility measures related to loss and risk on the investment for a given portfolio and their relationship with similar possibility measures. A numerical example is presented sh…
Is Big Brother Watching Us? Google, Investor Sentiment and the Stock Market
2013
International audience; This paper proposes a novel measure of French investor sentiment based on the volume of internet search reported by Google Trends. We find that our sentiment indicator correlates well with alternative sentiment measures often used in the literature. Furthermore, we find that investor sentiment influences the behavior of mutual fund investors. The results also reveal evidence about short-run predictability in return. An increase in our sentiment index leads to short-term return reversal. The reversal pattern is more pronounced for smaller firms than larger firms, consistent with the predictions of noise trader's models.
The prometeia model for managing insurance policies with guarantees
2008
Publisher Summary This chapter discusses the development of a scenario-based optimization model for asset and liability management for the participating policies with guarantees and bonus provisions offered by Italian insurers. The changing landscape of the financial services in Italy sets the backdrop for the development of this system which was the result of a multi-year collaborative effort between academic researchers, the research staff at Prometeia in Bologna, and end-users from diverse Italian insurers. It also presents and discusses the model and its key feature, and introduces several extensions. The resulting system allows the analysis of the tradeoffs facing an insurance firm in …
New development opportunities for the craft brewing segment: the case study of a micro-malthouse
2017
In Italy in the past few years, the number of small breweries penetrating the craft beer sector has grown exponentially. Craft producers intend to give a strong added value and a local character to their production in different ways. One of these is the use of malt derived from small batches of local cereals and pseudo cereals. The aim of this study is the assessment of investment profitability, through a cost-benefit analysis (CBA), for a compact and a modular micro-malting plant in Sicily (Southern Italy). The CBA for a micro-malthouse was carried out considering both installation and operating costs. Net present value (NPV), discounted benefit-cost ratio (DBCR) and internal rate of retur…
Timescale-dependent stock market comovement: BRICs vs. developed markets
2014
This paper examines the differences in the asset return comovement of the BRIC countries (Brazil, Russia, India and China), the other developed economies in their regions (Canada, Hong Kong and Australia) and the major industrialized economies (the U.K., Germany and Japan) with respect to the U.S. for different return periods. The novelty of the paper is that the stock return indices are decomposed to several timescales using wavelet analysis and that the results are further used as inputs for the dynamic conditional correlation (DCC) framework, which is used as a measure of comovement. The results propose that the level of stock market comovement depends on regional aspects, the level of d…
Determinants of Individual Investment Decisions in Investment-Based Crowdfunding
2017
We investigate determinants of investment decisions in investment-based (equity and real estate) crowdfunding, using a novel investment-, investor- and campaign-level database. We find that this market is a man's world, with nearly 93% of investments made by men. Consistent with behavioral and finance theories, we find that women invest less in the riskiest investments but more in safer ones. Further analyses show that these findings are better explained by differences in risk aversion than differences in overconfidence between men and women. Investors located in an area considered more "sociable" (socially friendly) also invest more, but only if the investor is a woman. Overall, the findin…