Suchergebnisse

Intro -- Foreword -- Preliminary Remarks -- Prelude: The Carrying Capacity of Air -- PART ONE: I -- 1 Touch -- 2 Desire -- 3 Death -- PART TWO: YOU -- 4 Transformation -- 5 Embrace -- 6 A Play of Freedom -- PART THREE: WE -- 7 The Thought of the Southern Midday -- 8 Sharing -- 9 The Heavens, Now -- Postlude: The Voice of Happiness -- Thanks -- Notes -- About the Author.

AbstractThis paper extends the work in Serletis [Serletis, A. (1992). Unit root behavior in energy futures prices. The Energy Journal 13, 119–128] by re‐examining the empirical evidence for random walk type behavior in energy futures prices. It tests for fractional integrating dynamics in energy futures markets utilizing more recent data (from January 3, 1994 to June 30, 2005) and a new semi‐parametric wavelet‐based estimator, which is superior to the more prevalent GPH estimator (on the basis of Monte‐Carlo evidence). We find new evidence that energy prices display long memory and that the particular form of long memory is anti‐persistence, characterized by the variance of each series being dominated by high frequency (low wavelet scale) components.

Le present document contient les actes de la reunion ministerielle sur le peuplement et le developpement durables de la zone couverte par le Programme de lutte contre l'onchocercose (OCP), qui s'est tenue a Paris du 12 au 14 avril 1994. L'OCP est l'une des actions sanitaires les plus reussies d'Afrique: il a quasiment eradique l'onchocercose, en tant que probleme de sante, dans les 11 pays couverts par le programme. (DÜI-Hff)

AbstractA firm's announcement that it intends to restructure based on tracking stock is usually associated with a positive stock price reaction, at least in the short run. Typically, this reaction is attributed to expected reductions in a diversification discount, through reduced agency costs or information asymmetries. We reinvestigate this latter hypothesis by focusing on the liquidity provided by market makers before and after a firm issues a tracking stock. Our results suggest that such restructurings are not effective at reducing information asymmetries. Rather, firms that issue tracking stocks exhibit less liquidity and greater adverse selection than comparable control firms.

The majority of tobacco advertisement in Spain is directed at youth. This advertisement, carried out on several fronts, is particularly effective with young people. In the present work we analyze different advertising efforts involved in the ad campaign carried out by Fortuna-brand (a product of the company Tabacalera S.A., and sector leader of sales in Spain) in 1999 and 2000. In terms of their marketing strategy, we can conclude that Fortuna's principal commercial objective is presenting tobacco as intrinsically associated with being young. Both the indirect promotion of its products through activities and its commercials, are aimed towards developing the image that tobacco symbolizes the series of core values more appreciated by youth. Relevant legislation will have to be adapted to this reality in order to control specifically the manner in which publicity such as that promoted by Fortuna is directed to the population. La mayor parte de la publicidad que sobre tabaco se emiteactualmente en España va dirigida a la población joven. Estapublicidad resulta particularmente atractiva para este colectivo,al que se trata de llegar desde frentes muy diversos. En el pre-sente trabajo se analizan las distintas actividades incluidas en lacampaña publicitaria realizada porFortuna(perteneciente aTabacalera, SAy líder de ventas del sector en España) durantelos años 1999 y 2000. El análisis de dicha publicidad permiteconcluir que la estrategia deFortunaes presentar el tabacocomo intrínsecamente unido con una serie de valores positivosatractivos a la juventud. Tanto la promoción indirecta de losproductos deFortunacomo los anuncios de la marca intentancrear la imagen de que el tabaco simboliza los valores másapreciados por los jóvenes. La legislación al respecto deberíaadaptarse a esta realidad, a fin de controlar de manera más pre-cisa los mensajes publicitarios que, como los deFortuna,se di-rigen a la población.

Publicity is legally regulated in Spain, in order to avoid its misuse. Tobacco publicity is also under those regulation, having had the companies operating in this sector to adapt themselves through new strategies. In this work, the legal restrictions existing in Spain regarding publicity are analyzed, together with some of the strategies developed by tobacco companies in order to elude them. In this sense, and despite of the existing legal framework, it should be noticed that tobacco companies are cleverly taking advantage of the existence of legal loopholes in tobacco publicity to promote their products. nto de vista legislativo, a fin de evitar posibles malos usos de la misma. Aquella referida al tabaco está también sometida a esta regulación, habiéndose adaptado a ella las empresas del sector a través de nuevas estrategias. En el presente tmbajo se analizan las restricciones legales vigen- tes en España respecto a esta publicidad, junto a algunas de esas estrategias desarrolladas por las compañías tabaqueras para tratar de eludir las mismas. En este sentido, a pesar del marco legislativo vigente, se constata que en el terreno de la publicidad del tabaco sigue habiendo determinados varíos legules que son hábilmente aprovechados por la industria tabaquerA para promocionar sus productos.