The eSDAR, calculated as ([[MMR.sub.i]/[[sigma].sub.i]] * [[sigma].sub.m] - [MMR.sub.m]), measures whether a fund can perform as well as the market portfolio if it has the market level of risk.
First, the socially responsible investing universe as a whole seemed to have outperformed the overall market, as indicated by the positive eSDAR of the DSI, a proxy for the Domini 400 index, against the CRSP market index.
Table 2 Comparison of Portfolio Performance CRSP Domini400 Portfolio-SRI MMR MMR eSDAR * MMR (A) eSDAR * -0.30% -0.20% 1.23% -0.33% -1.20% (-0.22) (-0.15) N/A (-0.30) N/A CRSP Portfolio-Contr A-B MMR MMR (B) eSDAR * -0.30% -0.14% 1.82% -0.19% (-0.22) (-0.11) N/A (-0.81) Note: MMR stands for mean monthly returns.
Tel Masos and Beersheba were joined by additional sites, for example, Tel Esdar (Kochavi 1969) and Nahal Yatir (Govrin 1991).
At this time, Tel Masos stratum II (and later in this century also Tel Masos stratum I), Nahal Yatir, and Tel Esdar ceased to exist, while Beersheba changed its character and became a planned and fortified town.