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In this study, we investigate whether the performance of emerging market hedge funds (EMHFs) follow a pattern similar to that reported for advanced market hedge funds. In contrast to the pre-2007 period, our results for the post-2006 period show that EMHFs exhibit performance patterns similar to those reported for hedge funds that focus on the developed markets. Unlike in the pre-2007 period, EMHFs in general do not exhibit significant exposure to specific asset classes in the post-2006 period. On a risk-adjusted basis, we find that EMHFs do not consistently outperform the benchmarks. The reported performance patterns may provide useful insights to both academics and portfolio managers.
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International non-profit organizations have started to implement eco-labeling for credence attributes programs aimed to inform consumers about environmentally sound or “sustainable” production standards for various products. Using coffee labeled as “shade grown” or “bird friendly” as an example, this paper describes the impact such labeling programs may have on local land use patterns in coffee producing regions. Shade grown coffee farms should provide a variety of external benefits, including the preservation of biodiversity, carbon sequestration, the prevention of soil erosion and aquifer recharge. Those externalities, however, are not expected to have observable land use impacts unless they are capitalized in the coffee market. The prospect of market capitalization of externalities suggests the extension of the conventional von Thunen model to the calculation of social location rent. Using the maximization of social location rent as a criterion allows the externality effect to play a direct role in market-based land use allocation of land between eco-labeled shade grown coffee production and other activities.
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Broadwater Energy is one of a number of recent proposals to construct a liquefied natural gas facility along the East Coast of the United States. The proposal calls for the construction of an import and regasification terminal in Long Island Sound, roughly halfway between the states of New York and Connecticut. First made public in 2004 by its sponsors, TransCanada and Shell, the Broadwater proposal has inspired opposition from a range of interest groups. An examination of the Broadwater debate with a focus on arguments made by Connecticut residents in the months leading up to the release in late 2006 of the proposal's Draft Environmental Impact Statement reveals explicit and implicit points of overlap between concerns about the facility's environmental impacts and concerns about its status as a potential terrorist target. Discussions about terrorism deployed in the Broadwater debate have initiated and informed a politics of scale through which themes common to environmental debates have been transformed. This transformation, in turn, highlights the discursive and material influence of terrorism in contemporary U.S. society. Concerns about terrorist attacks have been deployed by activists to enhance the strength of an otherwise environmental debate and, in the process, those concerns have developed the potential to shape land use policy in Long Island Sound. Key Words: environmentalism, liquefied natural gas, Long Island Sound, scale, terrorism.
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Five new suffrutescent to shrubby Jaltomata Schlechtendal species (Solanaceae) of the department of Cajamarca, Peru, are described and illustrated, Jaltomata contumacensis S. Leiva & Mione has a light green, urceolate-tubular corolla and grows in the province of Contumazá between 2530 and 3000 m; J. lanata S. Leiva & Mione has a whitish purple to pale purple, short-tubular corolla and grows in the province of San Pablo between 1850 and 2400 m; J. leivae Mione has a red-violet, urceolate corolla containing red nectar and grows in the province of Contumazá between 2560 and 2650 m; J. oppositifolia S. Leiva & Mione bas a white, broadly infundibular to rotate corolla and grows in province Chota between 2250 and 3090 m; and J. yacheri Mione & S. Leiva has a blue-purple, urceolate corolla and grows in province Hualgayoc at 3460 m. The fruits of two of these species are eaten by people.
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Between 2001 and 2003, Roxanne Quimby - then the sole owner of a natural personal-care products company named Burt's Bees - invested millions of dollars of her company's profits in tens of thousands of acres of forestland in northern Maine. Her intention was to donate that land to the United States government on behalf of a controversial national park proposed for the region - the Maine Woods National Park. Quimby's actions set off sharp debates between policy makers, environmentalists and residents of northern Maine. As this article suggests, those debates were informed in part by their association with green consumerism. When consumers purchase `environmentally friendly' products like those made by Burt's Bees, they typically envision their actions as having positive consequences for places associated directly with the production and consumption of that product. In this case, however, profits from a green consumer product were reinvested outside its immediate commodity chain, thereby implicating green-consumer decisions in a politics of identity and landscape control beyond that product's lifecycle. This paper explores that process, suggesting that even the most well-intended consumer choices can carry social and environmental consequences into new and perhaps unexpected terrain. When we shop to save, we can never be quite certain of what it is that we are saving.
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Shrieks and complaints, accompanied by body language, contribute markedly to Malory's representation of Elaine of Ascolat's emotionality. Elaine's two shrieks echo Lancelot's and indicate change from sorrow for a wounded beloved to heartbreak when he rejects her. When Elaine is compared with speakers in love lyrics, allegories, and romances, the thoughts in her unarticulated complaints after the pained second shriek may be understood and related to her defence of complaint and perseverance in love despite rejection. Similarly, Elaine's complaint letter, including its overlooked moan to ladies, reflects a state of tranquility and brings about a just resolution.
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