The current financial education framework has an increasing need to introduce tools that facilitate the application of theoretical models to real-world data and contexts.However,only a limited number of free tools are...The current financial education framework has an increasing need to introduce tools that facilitate the application of theoretical models to real-world data and contexts.However,only a limited number of free tools are available for this purpose.Given this lack of tools,the present study provides two approaches to facilitate the implementa-tion of an event study.The first approach consists of a set of MS Excel files based on the Fama–French five-factor model,which allows the application of the event study methodology in a semi-automatic manner.The second approach is an open-source R-programmed tool through which results can be obtained in the context of an event study without the need for programming knowledge.This tool widens the calculus possibilities provided by the first approach and offers the option to apply not only the Fama–French five-factor model but also other models that are common in the finan-cial literature.It is a user-friendly tool that enables reproducibility of the analysis and ensures that the calculations are free of manipulation errors.Both approaches are freely available and ready-to-use.展开更多
目的探讨精神分裂症患者认知损害与阳性和阴性症状量表(positive and negative syndrome scale,PANSS) 5因子模型之间的关系。方法选取首发或者复发未治疗住院的精神分裂症患者130名和85名健康对照,采用精神分裂症认知功能成套测验中文...目的探讨精神分裂症患者认知损害与阳性和阴性症状量表(positive and negative syndrome scale,PANSS) 5因子模型之间的关系。方法选取首发或者复发未治疗住院的精神分裂症患者130名和85名健康对照,采用精神分裂症认知功能成套测验中文版(MATRICS consensus cognitive battery,MCCB)评估2组的认知功能,PANSS量表5因子模型评估患者的精神症状。结果患者组在MCCB测量的连线、符号编码、言语流畅、霍普金斯词语学习、空间广度、空间记忆、迷宫及情绪管理分测验评分均低于对照组( P <0.001);患者组在MCCB评估的认知维度与PANSS 5因子模型的关联性分析中,认知损害因子与信息处理加工速度、言语学习、推理及问题解决、社会认知能力均呈负相关( P <0.050),而其他因子与MCCB评估的认知维度均无相关。结论精神分裂症患者认知功能不同程度受损,其中信息处理加工速度受损程度更为严重;精神分裂症患者认知功能与阴性症状是相互独立的症状群,在患者治疗过程中,需要制定不同的方案。展开更多
Fama and French propose a five-factor model containing the market factor and factors related to size,book-to-market equity ratio,profitability and investment,which outperforms the Fama-French three-factor model in the...Fama and French propose a five-factor model containing the market factor and factors related to size,book-to-market equity ratio,profitability and investment,which outperforms the Fama-French three-factor model in their paper 2014.This study investigates the performance of Fama-French five-factor model and compare with that of Fama-French three-factor model on Chinese A-share stock market.The empirical results show that Fama-French five-factor model explanatory power has differences among different sets of portfolios.Compared with Fama-French three-factor model,the presence of profitability and investment factors donot seem to capture more variations of expected stock returns than the three-factor model except for six value-weighted portfolios formed on size and operating profitability.展开更多
基金the Secretaria d’Universitats i Recerca del Departament d’Empresa i Coneixement of the Catalan government,and to Universitat Ramon Llull for their financial support.The financial support for this work did not influence its outcome.
文摘The current financial education framework has an increasing need to introduce tools that facilitate the application of theoretical models to real-world data and contexts.However,only a limited number of free tools are available for this purpose.Given this lack of tools,the present study provides two approaches to facilitate the implementa-tion of an event study.The first approach consists of a set of MS Excel files based on the Fama–French five-factor model,which allows the application of the event study methodology in a semi-automatic manner.The second approach is an open-source R-programmed tool through which results can be obtained in the context of an event study without the need for programming knowledge.This tool widens the calculus possibilities provided by the first approach and offers the option to apply not only the Fama–French five-factor model but also other models that are common in the finan-cial literature.It is a user-friendly tool that enables reproducibility of the analysis and ensures that the calculations are free of manipulation errors.Both approaches are freely available and ready-to-use.
文摘目的探讨精神分裂症患者认知损害与阳性和阴性症状量表(positive and negative syndrome scale,PANSS) 5因子模型之间的关系。方法选取首发或者复发未治疗住院的精神分裂症患者130名和85名健康对照,采用精神分裂症认知功能成套测验中文版(MATRICS consensus cognitive battery,MCCB)评估2组的认知功能,PANSS量表5因子模型评估患者的精神症状。结果患者组在MCCB测量的连线、符号编码、言语流畅、霍普金斯词语学习、空间广度、空间记忆、迷宫及情绪管理分测验评分均低于对照组( P <0.001);患者组在MCCB评估的认知维度与PANSS 5因子模型的关联性分析中,认知损害因子与信息处理加工速度、言语学习、推理及问题解决、社会认知能力均呈负相关( P <0.050),而其他因子与MCCB评估的认知维度均无相关。结论精神分裂症患者认知功能不同程度受损,其中信息处理加工速度受损程度更为严重;精神分裂症患者认知功能与阴性症状是相互独立的症状群,在患者治疗过程中,需要制定不同的方案。
文摘Fama and French propose a five-factor model containing the market factor and factors related to size,book-to-market equity ratio,profitability and investment,which outperforms the Fama-French three-factor model in their paper 2014.This study investigates the performance of Fama-French five-factor model and compare with that of Fama-French three-factor model on Chinese A-share stock market.The empirical results show that Fama-French five-factor model explanatory power has differences among different sets of portfolios.Compared with Fama-French three-factor model,the presence of profitability and investment factors donot seem to capture more variations of expected stock returns than the three-factor model except for six value-weighted portfolios formed on size and operating profitability.
