scholarly journals Reprint of: Conditional specification of endomesoderm

2021 ◽  
pp. 203731
Author(s):  
David R. McClay ◽  
Jenifer C. Croce ◽  
Jacob F. Warner
Keyword(s):  
Conditional Specification

Partial Higher-Order Specifications1

1992 ◽  
Vol 16 (2) ◽  
pp. 101-126
Author(s):  
Egidio Astesiano ◽  
Maura Cerioli
Keyword(s):  
Sufficient Conditions ◽  
Higher Order ◽  
Necessary And Sufficient Conditions ◽  
Important Case ◽  
Deduction System ◽  
Closure Properties ◽  
Inference System ◽  
Conditional Specification ◽  
Necessary And Sufficient

In this paper the classes of extensional models of higher-order partial conditional specifications are studied, with the emphasis on the closure properties of these classes. Further it is shown that any equationally complete inference system for partial conditional specifications may be extended to an inference system for partial higher-order conditional specifications, which is equationally complete w.r.t. the class of all extensional models. Then, applying some previous results, a deduction system is proposed, equationally complete for the class of extensional models of a partial conditional specification. Finally, turning the attention to the special important case of termextensional models, it is first shown a sound and equationally complete inference system and then necessary and sufficient conditions are given for the existence of free models, which are also free in the class of term-generated extensional models.

Conditional Specification

1992 ◽  
pp. 1-6
Author(s):  
Barry C. Arnold ◽  
Enrique Castillo ◽  
José-Mariá Sarabia
Keyword(s):  
Conditional Specification

scholarly journals On the use of the not-at-random fully conditional specification (NARFCS) procedure in practice

2018 ◽  
Vol 37 (15) ◽  
pp. 2338-2353 ◽  
Author(s):  
Daniel Mark Tompsett ◽  
Finbarr Leacy ◽  
Margarita Moreno-Betancur ◽  
Jon Heron ◽  
Ian R. White
Keyword(s):  
Fully Conditional Specification ◽  
Conditional Specification

International diversification and return differential between the US and the foreign markets

2015 ◽  
Vol 14 (4) ◽  
pp. 382-397 ◽  
Author(s):  
Abdullah Noman
Keyword(s):  
Mutual Funds ◽  
Factor Model ◽  
Foreign Market ◽  
Risk Exposure ◽  
Market Returns ◽  
Foreign Markets ◽  
Content Type ◽  
Conditional Specification ◽  
The Us ◽  
Information Variable

Purpose – This paper aims to examine the impact of the return differential between the domestic and foreign markets on the risk exposure of country mutual funds (CMFs). It is argued that when US market returns are higher than the foreign market returns, the returns chasing investors will tilt their portfolio toward the US market assets, increasing the co-movement between the US market and CMF return. Design/methodology/approach – The sample includes 19 exchange traded funds (ETFs) and 18 closed-end mutual funds (CEFs) over the period between 2001 and 2011. A static two-factor model is used to get the benchmark results. On the other hand, a conditional specification is used, with the return differential as the information variable, to capture the variation in the exposure of the country funds to their underlying risks. Findings – Empirically, the authors find results that partially support their argument. The results of the static two-factor model indicate that the CMFs are exposed to the foreign market risks, whereas the local (US) market risk is not generally priced. The results obtained from the conditional specification, however, shows that the estimated US betas are significant for a number of CMFs. Practical implications – A possible interpretation of this finding is that the return differential encourages return chasing behavior of the US investors documented in the international investment literature. This, in turn, may contribute to the time-varying exposure of the CMF return to their underlying risk factors. The findings of the paper have important implications for the investors as the time variation in risk exposure of CMFs causes fluctuation in diversification benefits over time. Originality/value – To the best of the authors’ knowledge, this is the first paper that uses return differential as the information variable in a conditional factor model.

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