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In this paper, I set up scenarios where the mean-variance capital asset pricing model is true and where it is false. Then I investigate whether the coefficients from regressions of population expected excess returns on population betas, and expected excess returns on betas and size, allow us to distinguish between the scenarios. I show that the coefficients(More)
The shells and contents of 2090 packs of six raw eggs from shops in Northern Ireland were examined for the presence of salmonella between April 1996 and October 1997. Nine isolates of salmonella were detected from separate packs of eggs (0.43%). One of the isolates was from egg contents (0.05%), where salmonella can proliferate to levels likely to cause(More)
This paper provides a substantive connection between the infinitesimal generator of the semigroup of pricing operators and conditions required for absence of arbitrage in security prices. The practical importance of recognizing the semigroup properties is illustrated by considering the implications for empirical tests of discounted dividend models of stock(More)
This Monte Carlo study compares the small sample properties of some commonly used omnibus and directional tests, based on the standardized third and fourth moments, for assessing the normality of random variables: the omnibus D'Agostino K 2 test and the directional components, and three versions of the Jarque-Bera test. The simulation results demonstrate(More)
A survey of unopened ice cream, ice cream in use, and ice-cream-scoop water (n = 91) was conducted to determine the effect of scoop water hygiene on the microbiological quality of ice cream. An aerobic plate count around 10(6) c.f.u. ml-1 was the modal value for scoop waters. Unopened ice creams generally had counts around 10(3)-10(4) c.f.u. ml-1 and this(More)
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