Ethical screening and financial performance : the case of Islamic equity funds

Whether ethical screening affects portfolio performance is an important question that is yet to be settled in the literature. This paper aims to shed further light on this question by examining the performance of a large global sample of Islamic equity funds (IEFs) from 1984 to 2010. We find that IEFs underperform conventional funds by an average of 40 basis points per month, consistent with the underperformance hypothesis. In line with popular media claims that Islamic funds are a safer investment, IEFs outperformed conventional funds during the recent banking crisis. However, we find no such outperformance for other crises or high volatility periods. Based on fund holdings-based data, we provide evidence of a negative curvilinear relation between fund performance and ethical screening intensity, consistent with a return trade-off to being more ethical.

Challenges in field monitoring of energy performance of air conditioners

Experimental work could be conducted in either laboratory or at field site. Generally, the laboratory experiments are carried out in an artificial setting and with a highly controlled environment. By contrast, the field experiments often take place in a natural setting, subject to the influences of many uncontrolled factors. Therefore, it is necessary to carefully assess the possible limitations and appropriateness of an experiment before embarking on it. In this paper, a case study of field monitoring of the energy performance of air conditioners is presented. Significant challenges facing the experimental work are described. Lessons learnt from this case study are also discussed. In particular, it was found that on-going analysis of the monitoring data and the correction of abnormal issues are two of the keys for a successful field test program. It was also shown that the installation of monitoring systems could have a significant impact on the accuracy of the data being collected. Before monitoring system was set up to collect monitoring data, it is recommended that an initial analysis of sample monitored data should be conducted to make sure that the monitoring data can achieve the expected precision. In the case where inevitable inherent errors were induced from the installation of field monitoring systems, appropriate remediation may need to be developed and implemented for the improved accuracy of the estimation of results. On-going analysis of monitoring data and correction of any abnormal issues would be the key to a successful field test program.

Trial by media: An empirical investigation of corporate reputation and stock returns in Australia

This article examines whether investors are able to generate abnormal risk-adjusted returns in the Australian market based on media-specific firm reputational factors under market uncertainty between 2004 and 2012. The findings suggest that after controlling for crisis-centric time periods and market risk factors, contrarian trading strategies produce abnormal returns for poor corporate reputation firms but not for their good corporate reputation counterparts. Corporate reputation may be a driver of performance for poorly performing Australian firms and could be considered a stimulus for trading activity due to its explanatory capabilities.

High-performance computing for data analytics

One of the main challenges in data analytics is that discovering structures and patterns in complex datasets is a computer-intensive task. Recent advances in high-performance computing provide part of the solution. Multicore systems are now more affordable and more accessible. In this paper, we investigate how this can be used to develop more advanced methods for data analytics. We focus on two specific areas: model-driven analysis and data mining using optimisation techniques.

The Media as Political Actors

This chapter provides a history of the media as political actors and identifies key principles that have shaped their role in both democratic and authoritarian polities (i.e., information, interpretation, participation, critical scrutiny). In addition, the chapter explores recent trends impacting on the performance of that role, such as the emergence of the Internet and, as a consequence of that process, a globalized public sphere of transnational news media outlets. It is argued that to make the Internet truly valuable as a political resource, democratic societies continue to require the work of skilled, professional journalists and their sense making, interpretative functions. Because of that journalists and their organizations remain crucial to the translation of content into meaningful messages.

A rare view: Barbara Hatley’s new book documents a career-long study of, and passion for performance in Central Java

Javanese Performances on an Indonesian Stage: Contesting Culture, Embracing Change, is Barbara Hatley’s first book about the performing arts in Indonesia, a topic that piqued her interest while undergoing a masters program at Yale University in the late 1960s. In this sense, it is a landmark study, for Hatley has since become very well known in Indonesianist circles, especially among those with an interest in matters of culture, popular and elite. Until recently, her writings on Indonesian performing arts have only been available in the form of journal articles and book chapters...

Disability performance in Australia

In disability arts, as in so many things, Australia has both its own cultural specificities, as well as the cultural followings that come with being a colonised country. In Australia, our colonial legacy, multiculturalism, and Asia-Pacific location have always made our relation to our own arts and culture fraught, the subject of ongoing aesthetic, cultural and political contestation. We have historically suffered from what Phillips (2006) calls a ‘cultural cringe’, in which we worry about the individuality, value and volume of our arts and culture compared to others, and this comes up again and again in commentary to this day...

Playing Pranks: Traditions, communities & co-creative cultural performance practice

Pranks, hoaxes and practical jokes are co-creative cultural performance practices that appear across times, contexts and cultures. These practices include everyday play amongst families, friends and coworkers, entertainment programs such as Prank Patrol, Punked or Scare Tactics, and aesthetic and activist pranks perpetrated by situationist artists, guerrilla artists, and, most recently, culture ‘jammers’ or ‘hackers’ intent on turning capitalist systems back on themselves. Although it can, in common usage, describe almost any show off behaviour, a prank in the strictest definition of the term is a performance that deploys a very specific set of strategies. It is an act of trickery, mischief, or deceit, that must be taken as real, and momentarily cause real fear, anger or worry for an unwitting spectator-become-performer, who is meant to play along until the trick is revealed and their response can be represented back to the prankster, other spectators, or society as a whole, either for the sake of entertainment or for the sake of commentary on a cultural phenomenon. A prank, in this sense, deliberately blurs the boundaries between daily and dramatic performance. It creates a moment of uncertainty, in which both the prankster’s ability to be creative, clever, or culturally astute, and the prankee’s ability to play along, discern the trick, discern the point of the trick, and, in the end, be duped, be a good sport, or even play/pay the prankster back, are both put to the test. In this paper, I consider a number of pranking traditions popular where I am in Australia, from the community-building pranks of footballers, bucks parties and ‘drop bear’ tales told to tourists, to the more controversial pranks of radio shock jocks, activists and artists. I use performance, spectatorship and ethical theory to examine the engagement between prankster, pranked spectator, and other spectators, in this most distinctive sort of community-driven performance practice, and the way it builds and breaks status, social and other sorts of relationships within and between specific communities.

Strength properties of composite clay balls containing additives from industry wastes as new filter media in water treatment

Pebble matrix filtration (PMF) is a water treatment technology that can remove suspended solids in highly turbid surface water during heavy storms. PMF typically uses sand and natural pebbles as filter media. Hand-made clay pebbles (balls) can be used as alternatives to natural pebbles in PMF treatment plants, where natural pebbles are not readily available. Since the high turbidity is a seasonal problem that occurs during heavy rains, the use of newly developed composite clay balls instead of pure clay balls have the advantage of removing other pollutants such as natural organic matter (NOM) during other times. Only the strength properties of composite clay balls are described here as the pollutant removal is beyond the scope of this paper. These new composite clay balls must be able to withstand dead and live loads under dry and saturated conditions in a filter assembly. Absence of a standard ball preparation process and expected strength properties of composite clay balls were the main reasons behind the present study. Five different raw materials from industry wastes: Red Mud (RM), Water Treatment Alum Sludge (S), Shredded Paper (SP), Saw Dust (SD), and Sugar Mulch (SM) were added to common clay brick mix (BM) in different proportions. In an effort to minimize costs, in this study clay balls were fired to 1100 0C at a local brick factory together with their bricks. A comprehensive experimental program was performed to evaluate crushing strength of composite hand-made clay balls, using uniaxial compression test to establish the best material combination on the basis of strength properties for designing sustainable filter media for water treatment plants. Performance at both construction and operating stages were considered by analyzing both strength properties under fully dry conditions and strength degradation after saturation in a water bath. The BM-75% as the main component produced optimum combination in terms of workability and strength. With the material combination of BM-75% and additives-25%, the use of Red Mud and water treatment sludge as additives produced the highest and lowest strength of composite clay balls, with a failure load of 5.4 kN and 1.4 kN respectively. However, this lower value of 1.4 kN is much higher than the effective load on each clay ball of 0.04 kN in a typical filter assembly (safety factor of 35), therefore, can still be used as a suitable filter material for enhanced pollutant removal.

Managing milling train operation and performance

This paper discusses the main milling train management tasks necessary for maintaining good extraction performance through a season. The main activities discussed are making week by week decisions about shredder and mill setting adjustments, and selecting preseason mill settings. To maintain satisfactory milling train extraction performance, the main factors affecting extraction should be examined: cane preparation with pol in open cells or shredder torque, delivery nip compaction through the load or torque controller outputs such as roll lift, feed chute flap position or pressure feeder to mill speed ratio, and added water rate. To select mill settings for the coming season, delivery nip compaction and feed chute exit compaction can be inferred from the previous seasons.

Modelling milling train performance

This paper describes recent updates to a milling train extraction model used to assess and predict the performance of a milling train. An extension was made to the milling unit model for the bagasse mills to replace the imbibition coefficient with crushing factor and mixing efficiency. New empirical relationships for reabsorption factor, imbibition coefficient, crushing factor, mixing efficiency and purity ratio were developed. The new empirical relationships were tested against factory measurements and previous model predictions. The updated model has been implemented in the SysCAD process modelling software. New additions to the model implementation include: a shredder model to assess or predict cane preparation, mill and shredder drives for power consumption and an updated imbibition control system to add allow water to be added to intermediate mills.

A candidate gene association study for growth performance in an improved Giant Freshwater Prawn (Macrobrachium rosenbergii) culture line

A candidate gene approach using type I single nucleotide polymorphism (SNP) markers can provide an effective method for detecting genes and gene regions that underlie phenotypic variation in adaptively significant traits. In the absence of available genomic data resources, transcriptomes were recently generated in Macrobrachium rosenbergii to identify candidate genes and markers potentially associated with growth. The characterisation of 47 candidate loci by ABI re-sequencing of four cultured and eight wild samples revealed 342 putative SNPs. Among these, 28 SNPs were selected in 23 growth-related candidate genes to genotype in 200 animals selected for improved growth performance in an experimental GFP culture line in Vietnam. The associations between SNP markers and individual growth performance were then examined. For additive and dominant effects, a total of three exonic SNPs in glycogen phosphorylase (additive), heat shock protein 90 (additive and dominant) and peroxidasin (additive), and a total of six intronic SNPs in ankyrin repeats-like protein (additive and dominant), rolling pebbles (dominant), transforming growth factor-β induced precursor (dominant), and UTP-glucose-1-phosphate uridylyltransferase 2 (dominant) genes showed significant associations with the estimated breeding values in the experimental animals (P =0.001−0.031). Individually, they explained 2.6−4.8 % of the genetic variance (R2=0.026−0.048). This is the first large set of SNP markers reported for M. rosenbergii and will be useful for confirmation of associations in other samples or culture lines as well as having applications in marker-assisted selection in future breeding programs.

Performance enhancement: A whole of person approach to first year dance students’ transition into tertiary training

The transition into university presents very particular challenges for students. The First Year Experience (FYE) is a transitional liminal phase, fraught with uncertainty, ripe with potential. The complexity inherent in this initial phase of tertiary education is well documented and continues to be interrogated. Providing timely and effective support and interventions for potentially at-risk first year students as they transition into tertiary study is a key priority for universities across the globe (Gale et al., 2015). This article outlines the evolution of an established and highly successful Transitional Training Program (TTP) for first year tertiary dance students, with particular reference to the 2015 iteration of the program. TTP design embraces three dimensions: physical training in transition, learning in transition, and teaching for transition, with an emphasis on developing and encouraging a mindset that enables information to be transferred into alternative settings for practice and learning throughout life. The aim of the 2015 TTP was to drive substantial change in first year Dance students’ satisfaction, connectedness, and overall performance within the Bachelor of Fine Arts (BFA) Dance course, through the development and delivery of innovative curriculum and pedagogical practices that promote the successful transition of dance students into their first year of university. The program targeted first year BFA Dance students through the integration of specific career guidance; performance psychology; academic skills support; practical dance skills support; and specialized curricula and pedagogy.

Social Media Audience Metrics as a New Form of TV Audience Measurement

Digital media have contributed to significant disruptions in the business of audience measurement. Television broadcasters have long relied on simple and authoritative measures of who is watching what. The demand for ratings data, as a common currency in transactions involving advertising and program content, will likely remain, but accompanying measurements of audience engagement with media content would also be of value. Today's media environment increasingly includes social media and second-screen use, providing a data trail that affords an opportunity to measure engagement. If the limitations of using social media to indicate audience engagement can be overcome, social media use may allow for quantitative and qualitative measures of engagement. Raw social media data must be contextualized, and it is suggested that tools used by sports analysts be incorporated to do so. Inspired by baseball's Sabremetrics, the authors propose Telemetrics in an attempt to separate actual performance from contextual factors. Telemetrics facilitates measuring audience activity in a manner controlling for factors such as time slot, network, and so forth. It potentially allows both descriptive and predictive measures of engagement.

Architecture, the body and authority in performance

This is a theoretical investigation seeking to learn more about architecture by looking at architectural practice through another discipline. In this research architecture is investigated by examining its relationship with bodies through performance and theatre set design. This thesis aims to build on existing architectural theory, in which an absence of discourse on the body has been identified, by analysing representations of architecture and the body in performance. The research specifically examines the relationship between the body, architecture and authority in performance through the analysis of several performance works.