This paper examines properties of daily stock returns and how the particular characteristics of these data affect event study methodologies. Daily data generally present few difficulties for event studies. Standard procedures are typically well-specified even when special daily data characteris-tics are ignored. However, recognition of autocorrelation in daily excess returns and changes in their variance conditional on an event can sometimes be advantageous. In addition, tests ignoring cross-sectional dependence can be well-specified and have higher power than tests which account for potential dependence. 1.

-to-end delays than IP Multicast. In this paper, we study these performance concerns in the context of the Narada protocol. In Narada, end systems selforganize into an overlay structure using a fully distributed protocol. Further, end systems attempt to optimize the efficiency of the overlay by adapting

According to its proponents, open source style software development has the capacity to compete successfully, and perhaps in many cases displace, traditional commercial development methods. In order to begin investigating such claims, we examine the development process of a major open source

This paper discusses modularization as a mechanism for improving the flexibility and comprehensibility of a system while allowing the shortening of its development time. The effectiveness of a “modularization ” is dependent upon the criteria used in dividing the system into modules. A system design

) evaluating an individual’s fitness dependent on the number of external nondominated points that dominate it, c) preserving population diversity using the Pareto dominance relationship, and d) incorporating a clustering procedure in order to reduce the nondominated set without destroying its characteristics

The Hausdorff distance measures the extent to which each point of a `model' set lies near some point of an `image' set and vice versa. Thus this distance can be used to determine the degree of resemblance between two objects that are superimposed on one another. In this paper we provide

We describe several improvements to Freund and Schapire’s AdaBoost boosting algorithm, particularly in a setting in which hypotheses may assign confidences to each of their predictions. We give a simplified analysis of AdaBoost in this setting, and we show how this analysis can be used to find

Recent work in Artificial Intelligence is exploring the use of formal ontologies as a way of specifying content-specific agreements for the sharing and reuse of knowledge among software entities. We take an engineering perspective on the development of such ontologies. Formal ontologies are viewed

. The estimating equations are derived without specifying the joint distribution of a subject's observations yet they reduce to the score equations for multivariate Gaussian outcomes. Asymptotic theory is presented for the general class of estimators. Specific cases in which we assume independence, m

The problem of allocating network resources to the users of an integrated services network is investigated in the context of rate-based flow control. The network is assumed to be a virtual circuit, connection-based packet network. We show that the use of Generalized processor Sharing (GPS), when