Suchergebnisse

War crimes, justice and the politics of memory / Bina D'Costa -- The limits of "doing" justice : compensation as reparation in post-war Sri Lanka / Neloufer de Mel and Chulani Kodikara -- Justice after the event : Sri Lanka's civil wars, memory, life and reconciliation / Pradeep Jeganathan -- The right to life and compensation in Pakistan's tribal areas / Saba Gul Khattak -- Seeking justice and keeping the memory alive / Leki Thungon -- Stand up and be counted : elections, democracy and the pursuit of justice in Jammu and Kashmir / Sanjay Kak -- The Adivasi undertrial, a prisoner of war : a study of undertrial detainees in South Chhattisgarh / Vrinda Grover -- The Ayodhya dispute : law's imagination and the functions of the status quo / Deepak Mehta -- Constitutional nationalism and structural violence : a study of the Muluki Ain and the constitutions of Nepal / Sanjeev Uprety and Bal Bahadur Thapa

PurposeThe purpose of the study is to examine the dynamics in the troika of asset pricing, volatility, and the business cycle in the US and Japan.Design/methodology/approachThe study uses a six-factor asset pricing model to derive the realized volatility measure for the GARCH-type models.FindingsThe comprehensive empirical investigation led to the following conclusion. First, the results infer that the market portfolio and human capital are the primary discounting factors in asset return predictability during various phases of the subprime crisis phenomenon for the US and Japan. Second, the empirical estimates neither show any significant impact of past conditional volatility on the current conditional volatility nor any significant effect of subprime crisis episodes on the current conditional volatility in the US and Japan. Third, there is no asymmetric volatility effect during the subprime crisis phenomenon in the US and Japan except the asymmetric volatility effect during the post-subprime crisis period in the US and full period in Japan. Fourth, the volatility persistence is relatively higher during the subprime crisis period in the US, whereas during the subprime crisis transition period in Japan than the rest of the phases of the subprime crisis phenomenon.Originality/valueThe study argues that the empirical investigations that employed the autoregressive method to derive the realized volatility measure for the parameter estimation of GARCH-type models may result in incurring spurious estimates. Further, the empirical results of the study show that using the six-factor asset pricing model in an intertemporal framework to derive the realized volatility measure yields better estimation results while estimating the parameters of GARCH-type models.

AbstractWhile technology is important, organizational and human factors also play a crucial role in achieving information security. In this paper we develop a system dynamics model of the interplay between technical and behavioral security factors, along with their impact on business value of an organization's IT infrastructure. The model captures delays associated with perception of security risk, the mechanics of user compliance and the mechanics of risk mitigation achieved by investments in security technology and user training. These structural model components interact to mediate the impact of security incidents on the business value generated by information technology enabled transactions. The model reveals the dynamics of erosion in and recovery of business value resulting from security incidents. Experiments with the model suggest that information security drills, analogous to fire drills, may be useful in maintaining user compliance, in addition to usual training and awareness activities. Among the management policy parameters examined, we find that improvement in realized business value is statistically significant for the minimum security risk the firm is willing to accept, and the proportion of security‐related investment spent on security technology versus security training and awareness. We also discuss how our model can be extended to help justify an organization's investments in information security, an objective that has been notoriously difficult to achieve in practice. Copyright © 2008 John Wiley & Sons, Ltd.