title: Cross-sectional and time-series momentum returns and market dynamics: evidence from Japan

authors: Cheema, Muhammad A.

subjects: Momentum returns

abstract: We test the behavioural theories of overconfidence and underreaction on cross-sectional (CS) and time-series (TS) momentum returns in the Japanese stock markets. Both CS and TS momentum returns are large and significant when the market continues in the same state and turns into losses when the market transitions to another state, consistent with the overconfidence but not the underreaction model. We find that TS conditional momentum returns exceed conditional CS momentum returns because of its active position since TS takes a net long (short) position following UP (DN) markets while CS is a zero-cost strategy irrespective of the market state. Finally, we find no relation between idiosyncratic volatility (IV) and momentum returns which is not supportive of either the overconfidence or underreaction model but implies that IV is not a significant limit to arbitrage in Japan.

text: Cross-sectional and time-series momentum returns and market dynamics: evidence from Japan We test the behavioural theories of overconfidence and underreaction on cross-sectional (CS) and time-series (TS) momentum returns in the Japanese stock markets. Both CS and TS momentum returns are large and significant when the market continues in the same state and turns into losses when the market transitions to another state, consistent with the overconfidence but not the underreaction model. We find that TS conditional momentum returns exceed conditional CS momentum returns because of its active position since TS takes a net long (short) position following UP (DN) markets while CS is a zero-cost strategy irrespective of the market state. Finally, we find no relation between idiosyncratic volatility (IV) and momentum returns which is not supportive of either the overconfidence or underreaction model but implies that IV is not a significant limit to arbitrage in Japan.

year: 2017

title: Infrastructure new findings for New Zealand

authors: Grimes, Arthur

subjects: economics

abstract: Infrastructure is a crucial input into economic production, and provision of infrastructure is a key avenue through which government may materially raise economic productivity. Recognising the importance of infrastructure investment, the Foundation for Research, Science and Technology granted Motu and its research partners a four-year research grant to examine the impacts that infrastructure investments have on New Zealand’s economic development. The programme has resulted in a range of empirical research studies that examine the impacts of specific and general infrastructure investments in this country. It has also resulted in contributions addressing theoretical and funding aspects related to infrastructure investment.

text: Infrastructure new findings for New Zealand Infrastructure is a crucial input into economic production, and provision of infrastructure is a key avenue through which government may materially raise economic productivity. Recognising the importance of infrastructure investment, the Foundation for Research, Science and Technology granted Motu and its research partners a four-year research grant to examine the impacts that infrastructure investments have on New Zealand’s economic development. The programme has resulted in a range of empirical research studies that examine the impacts of specific and general infrastructure investments in this country. It has also resulted in contributions addressing theoretical and funding aspects related to infrastructure investment.

year: 2010

title: The Impact of Colonisation on the Maori community: An exploration of the attitudes and perspectives held by Maori in relation to the active reclamation of Maori sovereignty/tino rangatiratanga.

authors: Baty, Tina Amy

subjects: Maori

abstract: Whāia te iti kahurangi ki te tūohu koe me he maunga teitei
Seek the treasure you value most dearly: If you bow your head, let it be to a lofty mountain
The purpose of my research was twofold. I first sort to explore the attitudes and perspectives held by Māori in relation to the active reclamation of Māori sovereignty, tino rangatiratanga. I further wanted to know how Māori sovereignty, tino rangatiratanga could lead to the improvement of Māori health.
My research collected information pertinent to these two inquiries from current literature and from interviews I conducted with five Māori individuals from different iwi, hapu groups. All whom were actively engaged with the Māori community in some form. My research data found that colonisalism has and continues to negatively impact the Māori community. This negative impact manifests in a variety of behaviours that effect Māori health and leads to poor outcomes for Māori. Māori sovereignty, tino rangatiratanga was thought of as the solution to overcome and neutralise the negative effects of colonialism experienced by Māori. Māori sovereignty, tino rangatiratanga was found to be related with Māori idenity and instrumental in all things pertinent to the Māori communities.
My research found that Māori sovereignty, tino rangatiratanga can be identified as existing on a philosophical level, governance-structural level, and on a day-to-day basis. This research found that the reclamation of Māori sovereignty, tino rangatiratanga is a process that is currently in motion. Finally, the exercising of Māori sovereignty, tino rangatiratanga in relation to Māori health provides a well-established argument that it can produce positive health benefits to the Māori community, because it is responsive to Māori and better meets the needs of our Māori community simply because it is a Māori way of being, doing and knowing.

text: The Impact of Colonisation on the Maori community: An exploration of the attitudes and perspectives held by Maori in relation to the active reclamation of Maori sovereignty/tino rangatiratanga. Whāia te iti kahurangi ki te tūohu koe me he maunga teitei
Seek the treasure you value most dearly: If you bow your head, let it be to a lofty mountain
The purpose of my research was twofold. I first sort to explore the attitudes and perspectives held by Māori in relation to the active reclamation of Māori sovereignty, tino rangatiratanga. I further wanted to know how Māori sovereignty, tino rangatiratanga could lead to the improvement of Māori health.
My research collected information pertinent to these two inquiries from current literature and from interviews I conducted with five Māori individuals from different iwi, hapu groups. All whom were actively engaged with the Māori community in some form. My research data found that colonisalism has and continues to negatively impact the Māori community. This negative impact manifests in a variety of behaviours that effect Māori health and leads to poor outcomes for Māori. Māori sovereignty, tino rangatiratanga was thought of as the solution to overcome and neutralise the negative effects of colonialism experienced by Māori. Māori sovereignty, tino rangatiratanga was found to be related with Māori idenity and instrumental in all things pertinent to the Māori communities.
My research found that Māori sovereignty, tino rangatiratanga can be identified as existing on a philosophical level, governance-structural level, and on a day-to-day basis. This research found that the reclamation of Māori sovereignty, tino rangatiratanga is a process that is currently in motion. Finally, the exercising of Māori sovereignty, tino rangatiratanga in relation to Māori health provides a well-established argument that it can produce positive health benefits to the Māori community, because it is responsive to Māori and better meets the needs of our Māori community simply because it is a Māori way of being, doing and knowing.

year: 2018