![]() Started? There were still so many things that needed to be decided! What would the classroom component look like? What about professional development? Would the course be for credit? We had decided to pay our interns, but how much? And what if no one wanted an intern? What if no one applied? I asked a lot of “what if” questions, but knew that at some point I had to have faith in the work we had done in the previous year and confidence that we could handle whatever challenges occurred in the future. It’s difficult to have faith in the unknown, so you can imagine the fear I felt when Chrissi Rawak, one of our assistant vice presidents, came to me in August of 2006 and said, “Okay, this internship program is going to happen next summer. ![]() The integration of the M-Portfolio dramatically changed the way our interns speak about their experience in our program and their understanding of the role philanthropy Having already put these thoughts into words, I was able to articulate my thoughts much more clearly to employers.” create examples of work and a philosophy statement that exhibit their skills, capacities, and lessons learned through D-SIP.Īccording to Joseph Sutkowi (D-SIP 2010), “MPortfolio was valuable because it required me to take my thoughts on the work I had done and the lessons I learned in D-SIP and put them into very concrete pieces.gain an increased awareness of themselves as learners, leaders, and professionals.They then post these reflections in an electronic portfolio. Through MPortfolio D-SIP interns engage in self-directed reflection of their past and present experiences and then draw connections between these experiences and their overarching philosophy, vision, and goals for the future. ![]() As a result, Melissa Peet, the academic lead for the MPortfolio Initiative at the time, and her team worked with us to create the processes to help successfully incorporate this initiative into our program. In year two of the program, Simone Himbeault Taylor, associate vice president for student affairs, suggested that D-SIP become one of the pilot sites for the integrative knowledge portfolio process (MPortfolio). For this newsletter, we want to particularly focus on how our partnership with the MPortfolio initiative, through DSA, has transformed our interns’ learning. One of the reasons our program stands out as a national best practice is because of our strong partnership with the Division of Student Affairs (DSA) - the Career Center played a critical role in shaping our professional development curriculum Intergroup Relations fostered dialogue amongst our interns on the interplay between interculturalism and philanthropy and DSA Development has hosted and mentored 5 D-SIP interns. ![]() The addition of the factor to the two models considerably increases their overall performance.Paula Wishart, from the UM Career Center, converses with D-SIP interns about professionalism at the Etiquette Dinner Our results show that the factor has a significant power in explaining both time-series and cross-sectional variation in the size-B/M portfolio returns. We then augment the two models with a shortability-mimicking factor. The two models perform much worse in the former environment than in the latter, indicating a significant impact of the short sales constraints on the explanatory power of the models. Using data from the Hong Kong Stock Market which has unique regulations on short selling, we conduct both time-series and cross-sectional regression analyses to evaluate the performance of the two models under the short-sales-constraints and the no-constraints market environment. Abstract This study explores how the violation of free short selling assumption affects the performance of CAPM and the Fama-French three-factor model, as existing studies show that short-sales constraints affect asset pricing of the stocks.
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