Evolving Market Efficiency with an Application to Some Bulgarian Shares

With new technically advanced methods and computers at our disposal, the efficient market hypothesis is once again being debated. At the same time, we are witnessing an unprecedented growth in both existing and new financial markets. These new markets are often in economies which have just recently embraced free market economics; we term these stock markets infant markets. Such stock markets are obviously not efficient in allocating the supply of savings to productive capital. We do not test whether or not these infant markets are informationally efficient, but instead examine whether and how they are becoming more efficient. We propose modelling the excess returns of individual securities using a multi-factor model with time-varying coefficients and generalised auto-regressive conditional heteroskedastic (GARCH) errors. If the markets are becoming more informationally efficient or the agents are learning, we would expect this to manifest itself as the time-varying coefficients becoming more stable as time increases. We test our model using data on four Bulgarian shares. First, we estimate an AR(2) model and a GARCH-M(1,1) model for the shares. Then, we estimated our AR(2) model with time varying coefficients and GARCH type errors. We find varying levels of efficiency and varying speeds of movement towards efficiency within our sample of four shares.     

WOMEN,RACE, AND CRIME *

This paper explores the capacity of alternative theoretical perspectives to explain the self-reported criminality of black and white young adult females. When criminal involvement is regressed on the theory operation-alizations separately by race, a key difference emerges: For white women, significant effects are clustered in the social-psychological theory groups (bonding, attitudes, and maturation), but for the black women the social-psychological variables have only scattered and inconsistent eflects. Instead, for black women structural indicators emerge as the important predictors of criminal involvement.     

The use of human skin in the fabrication of a bite mark template: two case reports

Comparison of a suspected biter's dental arches with the patterned injury of a bite mark is especially difficult when the bite occurs in an anatomic location with a small radius of curvature or with complex or compound curves. The authors present two case reports in which human skin was used as a template for the reproduction of a bite. In one case the victim's skin was used; in the other, the skin of a anatomically similar person was used. The use of inked dental casts, photography, and transparent overlays significantly reduced the errors common to analysis of bite marks in these highly curved areas.     

Retention of Offender DNA Samples Necessary to Ensure and Monitor Quality of Forensic DNA Efforts: Appropriate Safeguards Exist to Protect the DNA Samples from Misuse

Retention of offender DNA samples serves an important quality assurance role for forensic DNA laboratories. Consistent with the principles of confidentiality underlying the establishment of the state and national DNA databases, safeguards are in place to protect the DNA samples from unauthorized use.     

Demonstration of esophageal varices postmortem by gastroesophageal phlebography

The study presents a method for the demonstration of esophageal varices at autopsy by gastroesophageal phlebography. The veins visible on the radiographs were controlled and evaluated by studying the gross appearance of sections of the esophagus at the level of the varicose veins and by histologic examination of the sections. The phlebography was found to be useful in estimating the varicose and normal veins of the esophagus. The study indicates further that the degree of varicosity is not always proportional to the severity of cirrhosis of the liver, and there may be varicose esophageal veins in patients with liver or heart disorders without hepatic cirrhosis.     

Victims' perceptions of police response to domestic violence incidents

This study examined the nature of police response to domestic violence incidents with a focus on the identification of areas of police intervention that female victims of domestic abuse find “most” helpful and “least” helpful. The first part of the study was based on the analysis of a random sample of incident reports of domestic abuse cases recorded in 2000 and 2001. These reports were examined to obtain information about the characteristics of domestic abuse victims and summary information about the incidents of domestic abuse offenses. The second stage of the research study involved a telephone survey conducted with a random sample of fifty female domestic abuse victims who called the police. The study examined female victims' perceptions of how the police responded to the domestic abuse incidents, how helpful or not so helpful victims found the police to be when they responded to their calls, and how their cases were handled by the legal system.     

Job demands, job resources, and burnout among police officers

The purpose of this study was to examine the relationship between job demands, job resources, and burnout, and to examine if burnout could predict both work and health-related outcomes among police officers. The participants were 223 Norwegian police officers, and data were collected using a questionnaire. The study was part of a national survey of both health care and non-health care professions. The overall level of burnout was low among police officers compared to other occupational groups tested in Norway. Both job demands and job resources were related to burnout, especially work-family pressure was an important predictor for all of the three burnout dimensions. Burnout predicted individual outcomes, such as psychosomatic complaints and satisfaction with life, as well as work outcomes, such as job satisfaction, intention to quit, and organizational commitment. Suggestions for potential interventions to reduce burnout and negative individual and organizational consequences are presented.     

Peter Ebsen, Emissionshandel in Deutschland

Ohne Zusammenfassung