title: Stock Overreaction Behaviour in Bursa Malaysia: Does the Length of the Formation Period Matter?

authors: Ali, Norli

abstract: This paper investigates whether stock overreaction behaviour in Malaysian stock market is sensitive to the length of the formation period. Using the basic framework of De Bondt and Thaler (1985), this study find that stock overreaction behaviour in this market is sensitive to the length of the formation period. Significant evidence of stock overreaction effect is documented in the longer formation period of up to 5-year, while for the medium formation period of 2-year, there is no clear evidence of stock overreaction behaviour. Evidence of stock overreaction behaviour is also reported for the shorter-term of 1-year, however, it may not be economically profitable after taken into account the transaction cost. This study also shows that size cannot explain the documented overreaction effect. However, the results suggest that the overreaction effect subsided after adjustment to time-varying risk.

text: Stock Overreaction Behaviour in Bursa Malaysia: Does the Length of the Formation Period Matter? This paper investigates whether stock overreaction behaviour in Malaysian stock market is sensitive to the length of the formation period. Using the basic framework of De Bondt and Thaler (1985), this study find that stock overreaction behaviour in this market is sensitive to the length of the formation period. Significant evidence of stock overreaction effect is documented in the longer formation period of up to 5-year, while for the medium formation period of 2-year, there is no clear evidence of stock overreaction behaviour. Evidence of stock overreaction behaviour is also reported for the shorter-term of 1-year, however, it may not be economically profitable after taken into account the transaction cost. This study also shows that size cannot explain the documented overreaction effect. However, the results suggest that the overreaction effect subsided after adjustment to time-varying risk.

year: 2011

title: Miocene isotope zones, paleotemperatures, and carbon maxima events at intermediate water-depth, Site 593, Southwest Pacific

authors: Cooke, Penelope J.

subjects: Tasman Sea

abstract: Oxygen and carbon isotopic stratigraphies are presented from both benthic and planktic foraminifera for the late early Miocene to earliest Pliocene interval (c. 19–5 Ma) of intermediate water-depth DSDP Site 593 in the southern Tasman Sea. The benthic values are interpreted as recording Miocene Southern Component Intermediate Water, while the planktic species record the Miocene mode and surface water signals. Comparisons are made between temperate Site 593 and the intermediate-depth polar Site 747 in the southern Indian Ocean. Glacial Mi zones Mi1b–Mi6, representing extreme glacial events, are evident in both the Site 593 intermediate and surface water records. Miocene Southern Component Intermediate Water δ18O values are generally lighter than the Holocene equivalent (Antarctic Intermediate Water), indicating slightly warmer intermediate waters and/or less global ice volume. The benthic-planktic gradient is interpreted as indicating a less stratified Tasman Sea during the Miocene. The benthic δ13C record contains most of the global carbon maxima (CM) events, CM1–7 (CM1–6 = the Monterey Excursion). Like global deep-water records, the Tasman Sea intermediate water δ13C values indicate that most CM events correspond with Mi glacials, including Mi4 at Site 593, not reported previously. Intermediate waters play an important role in propagating climatic changes from the polar regions to the tropics, and the Site 593 dataset provides a full water column record of the structure of Miocene intermediate to surface watermasses prior to the modern situation.

text: Miocene isotope zones, paleotemperatures, and carbon maxima events at intermediate water-depth, Site 593, Southwest Pacific Oxygen and carbon isotopic stratigraphies are presented from both benthic and planktic foraminifera for the late early Miocene to earliest Pliocene interval (c. 19–5 Ma) of intermediate water-depth DSDP Site 593 in the southern Tasman Sea. The benthic values are interpreted as recording Miocene Southern Component Intermediate Water, while the planktic species record the Miocene mode and surface water signals. Comparisons are made between temperate Site 593 and the intermediate-depth polar Site 747 in the southern Indian Ocean. Glacial Mi zones Mi1b–Mi6, representing extreme glacial events, are evident in both the Site 593 intermediate and surface water records. Miocene Southern Component Intermediate Water δ18O values are generally lighter than the Holocene equivalent (Antarctic Intermediate Water), indicating slightly warmer intermediate waters and/or less global ice volume. The benthic-planktic gradient is interpreted as indicating a less stratified Tasman Sea during the Miocene. The benthic δ13C record contains most of the global carbon maxima (CM) events, CM1–7 (CM1–6 = the Monterey Excursion). Like global deep-water records, the Tasman Sea intermediate water δ13C values indicate that most CM events correspond with Mi glacials, including Mi4 at Site 593, not reported previously. Intermediate waters play an important role in propagating climatic changes from the polar regions to the tropics, and the Site 593 dataset provides a full water column record of the structure of Miocene intermediate to surface watermasses prior to the modern situation.

year: 2008

title: The "false generosity" of treaty settlements: innovation and contortion

authors: Te Aho, Linda

abstract: In Aotearoa New Zealand the ways in which indigenous claims to lands and waters are addressed are often looked to as good, or even best, practice by indigenous peoples around the world. While things are far from perfect, in recent decades Maori have succeeded in changing perceptions about the Treaty of Waitangi as the foundation of the nation, and work steadily continues on settling outstanding Treaty claims. The resulting Treaty of Waitangi settlements are negotiated arrangements which aim to remove a sense of historical grievance and achieve significant rebuilding of the Maori economy. They are seen by some as dynamic and powerful steps towards economic independence, as a means of recognising special relationships to lands and waters, and a necessary prerequisite to improved relationships between the state and the indigenous Maori in the future. ¹ Critics see the settlements and the processes followed to reach them as too heavily weighted in the government's favour. ² They argue that the settlements do not sufficiently compensate for actual losses. They are said to pit Maori against Maori. Diverse claimant groups are effectively forced to negotiate within standardised and fixed parameters. For these and other reasons, the settlement agreements, policies and processes have been labelled as divisive and compromising self-determination. ³

text: The "false generosity" of treaty settlements: innovation and contortion In Aotearoa New Zealand the ways in which indigenous claims to lands and waters are addressed are often looked to as good, or even best, practice by indigenous peoples around the world. While things are far from perfect, in recent decades Maori have succeeded in changing perceptions about the Treaty of Waitangi as the foundation of the nation, and work steadily continues on settling outstanding Treaty claims. The resulting Treaty of Waitangi settlements are negotiated arrangements which aim to remove a sense of historical grievance and achieve significant rebuilding of the Maori economy. They are seen by some as dynamic and powerful steps towards economic independence, as a means of recognising special relationships to lands and waters, and a necessary prerequisite to improved relationships between the state and the indigenous Maori in the future. ¹ Critics see the settlements and the processes followed to reach them as too heavily weighted in the government's favour. ² They argue that the settlements do not sufficiently compensate for actual losses. They are said to pit Maori against Maori. Diverse claimant groups are effectively forced to negotiate within standardised and fixed parameters. For these and other reasons, the settlement agreements, policies and processes have been labelled as divisive and compromising self-determination. ³

year: 2017