Volunteering and Social Activism: Pathways for Participation in Human Development

This discussion paper explores the following questions, drawing on the above-mentioned background study: How is volunteering an d social activism understood?; How do volunteering and social activism foster people's participation?; What is the relationship between participation and development?; What is required to widen and sustain participation

Service Enquiry Service in the 21st Century

The workshop set out to acknowledge and explore the potential of youth service as a strategy for social, economic and democratic development, to identify new work that needs to be undertaken, and to increase knowledge about youth

Five-country Study on Service and Volunteering in Southern Africa: South Africa Country Report

The aim of the study was to document and analyse civic service and volunteering in South Africa

Volunteering and Civic Service in Three African Regions: Contributions to Regional Integration, Youth Development and Peace

This paper broadly looks at the role of youth volunteering in cultivating peace and development in Sub-Saharan Africa

Five-country Study on Service and Volunteering in Southern Africa

In the context of globalization, civic service and volunteering is emerging as a growing social phenomenon and a field of inquiry internationally. This research was done to strengthen knowledge and understanding of service and to build research capacity in order to develop service as a field of inquiry and to strengthen its knowledge base and practice

Risk evaluation with enhaced covariance matrix

We propose a route for the evaluation of risk based on a transformation of the covariance matrix. The approach uses a `potential' or `objective' function. This allows us to rescale data from different assets (or sources) such that each data set then has similar statistical properties in terms of their probability distributions. The method is tested using historical data from both the New York and Warsaw Stock Exchanges.Comment: see urbanowicz.org.p

Portfolio selection models: A review and new directions

Modern Portfolio Theory (MPT) is based upon the classical Markowitz model which uses variance as a risk measure. A generalization of this approach leads to mean-risk models, in which a return distribution is characterized by the expected value of return (desired to be large) and a risk value (desired to be kept small). Portfolio choice is made by solving an optimization problem, in which the portfolio risk is minimized and a desired level of expected return is specified as a constraint. The need to penalize different undesirable aspects of the return distribution led to the proposal of alternative risk measures, notably those penalizing only the downside part (adverse) and not the upside (potential). The downside risk considerations constitute the basis of the Post Modern Portfolio Theory (PMPT). Examples of such risk measures are lower partial moments, Value-at-Risk (VaR) and Conditional Value-at-Risk (CVaR). We revisit these risk measures and the resulting mean-risk models. We discuss alternative models for portfolio selection, their choice criteria and the evolution of MPT to PMPT which incorporates: utility maximization and stochastic dominance

Theoretical and Numerical Analysis of an Optimal Execution Problem with Uncertain Market Impact

This paper is a continuation of Ishitani and Kato (2015), in which we derived a continuous-time value function corresponding to an optimal execution problem with uncertain market impact as the limit of a discrete-time value function. Here, we investigate some properties of the derived value function. In particular, we show that the function is continuous and has the semigroup property, which is strongly related to the Hamilton-Jacobi-Bellman quasi-variational inequality. Moreover, we show that noise in market impact causes risk-neutral assessment to underestimate the impact cost. We also study typical examples under a log-linear/quadratic market impact function with Gamma-distributed noise.Comment: 24 pages, 14 figures. Continuation of the paper arXiv:1301.648

A teacher’s identity trajectory within a context of change

This article examines the effects of political, socio-economic and educational change on a South African teacher’s identity trajectory. Our research was conducted at a primary school in a historically disadvantaged community in the Western Cape Province, South Africa. We applied a cultural-historical activity theoretical (CHAT) lens to explore the identity trajectory of one of the teachers. Our findings suggest that a teacher’s identity is a social product, drawn from social history, actively internalized and re-authored in response to new circumstances. This was especially evident during the transformation at the macro-political, educational and institutional levels in South Africa since 1994.Key words: agency; CHAT; disadvantaged context; emerging economy; identity trajectory; practical activity; primaryschool; teacher; transformatio