132 resultados para idiosyncratic volatility


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The debate about the democratic significance of these trends—a more aggressively inquisitorial media environment, greater public participation in political communication, a more accessible and transparent (at least in appearance) political class—continues, not least in Australia. This essay was written in the first half of 2013, a time of extreme political volatility in Australia, and in the run-up to a general election following three years of minority Labor government. By that stage in the political cycle, Prime Minister Julia Gillard had survived not one but two attempts at leadership “spills”, ministers had resigned or been sacked for disloyalty to the leader, major policy initiatives had been dumped, reversed or quietly dropped, and a Coalition opposition was confidently looking forward to a landslide majority in the election of September that year. Labor’s internal party turmoil, rather than the Coalition’s policy prospectus (which remained sketchy and vague right up to the eve of the election), were widely assumed to be the cause of the former’s poor standing in the opinion polls.

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A 34-year-old female patient with a three year history of generalized granuloma annulare was treated systemically with dapsone (DADPS). Six weeks after the onset of treatment, the patient developed an extensive tonsillitis of the base of the tongue with fever and malaise. Routine laboratory work showed a leukocytopenia with agranulocytosis. Further investigation revealed a marked decrease of the enzyme activity of N-acetyltransferase 2, which plays an important role in dapsone metabolism. Treatment included the cessation of dapsone, antibiotic coverage, and G-CSF leading to the rapid improvement of symptoms and normalization of leukocyte counts. Dapsone-induced angina agranulocytotica is a rare event and is interpreted as an idiosyncratic reaction. Depending on genetic polymorphisms of various enzymes, dapsone can be metabolized to immunologically or toxicologically relevant intermediates. Because of the risk of severe hematologic reactions, dapsone should only be employed for solid indications and with appropriate monitoring. [Article in German]

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This research project was a case study for managing and innovating an interdisciplinary practice: specifically across music, performance and contemporary art. Key works included painting/sound/video installation, experimental performance, electronic pop music, music video and electronic pop music performance. An idiosyncratic and transformative use of colour emerged as an underlying theme and strategy for cohesion. The project offers strategies for the challenges of interdisciplinary practice specifically addressing the limitations related to institutionalised value systems, aesthetic traditions and disciplinary languages.

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In this paper we propose a new multivariate GARCH model with time-varying conditional correlation structure. The time-varying conditional correlations change smoothly between two extreme states of constant correlations according to a predetermined or exogenous transition variable. An LM–test is derived to test the constancy of correlations and LM- and Wald tests to test the hypothesis of partially constant correlations. Analytical expressions for the test statistics and the required derivatives are provided to make computations feasible. An empirical example based on daily return series of five frequently traded stocks in the S&P 500 stock index completes the paper.

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It could be argued that architecture has an inherent social responsibility to enrich the urban and spatial environments for the city’s occupants. However how we define quality, and how ‘places’ can be designed to be fair and equitable, catering for individuals on a humanistic and psychological level, is often not clearly addressed. Lefebvre discusses the idea of the ‘right to the city’; the belief that public space design should facilitate freedom of expression and incite a sense of spatial ownership for its occupants in public/commercial precincts. Lefebvre also points out the importance of sensory experience in the urban environment. “Street-scape theatrics” are performative activities that summarise these two concepts, advocating the ‘right to the city’ by way of art as well as providing sensual engagement for city users. Literature discusses the importance of Street-scape Theatrics however few sources attempt to discuss this topic in terms of how to design these spaces/places to enhance the city on both a sensory and political level. This research, grounded in political theory, investigates the case of street music, in particular busking, in the city of Brisbane, Australia. Street culture is a notion that already exists in Brisbane, but it is heavily controlled especially in central locations. The study discusses how sensory experience of the urban environment in Brisbane can be enriched through the design for busking; multiple case studies, interviews, observations and thematic mappings provide data to gather an understanding of how street performers see and understand the built form. Results are sometime surprisingly incongruous with general assumptions in regards to street artist as well as the established political and ideological framework, supporting the idea that the best and most effective way of urban hacking is working within the system. Ultimately, it was found that the Central Business District in Brisbane, Australia, could adopt certain political and design tactics which attempt to reconcile systematic quality control with freedom of expression into the public/commercial sphere, realism upheld. This can bridge the gap between the micro scale of the body and the macro of the political economy through freedom of expression, thus celebrating the idiosyncratic nature of the city.

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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.

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The United Nations Convention on the Rights of the Child provides a significant platform to include children’s views on issues that affect their lives, yet, in many contexts, particularly in educational practice, children’s perspectives continue to be irregularly sought and are rarely acted upon. By providing children’s perspectives on what they would like adults to know, this article explores a unique view of childhood and the interactions with family, community, educational experiences and well-being. The children’s insights about their worlds that they feel adults are missing potentiate the development and incorporation of voice-inclusive practice. While the sense that each child makes of their Lebenswelt – the ‘ingredients’ – is idiosyncratic and will be influenced by many factors, including peers, teachers, parents, other adults and the media, it is the nature of this personal understanding that is poorly understood, and consequently ignored by adults. By exploring the commentary of more than 1000 children across five countries – Australia, England, New Zealand, Italy and Sweden – this research reveals an overwhelming collection of what the authors describe as ‘comments that rhyme’ in terms of the identification of expressed sentiment and thematic representations of their perspectives.

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This PhD playfully employs visual arts as a means through which to explore concepts of gender, normative behaviour, play, humour, collecting and an intimate and idiosyncratic relationship with domestic space. This PhD seeks to: represent certain complexities of individual experience through theoretical frameworks of Gaston Bachelard, Michel de Certeau, Pierre Bourdieu and selected visual artists; use my art to elucidate the humour that exists in the mundane; and illustrate the construction of particular life-worlds using auto-ethnography and visual documentation. This is represented in a 50,000 word exegesis (50%) and a practice comprising of eight artist books (50%).

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The importance of modelling correlation has long been recognised in the field of portfolio management, with largedimensional multivariate problems increasingly becoming the focus of research. This paper provides a straightforward and commonsense approach toward investigating a number of models used to generate forecasts of the correlation matrix for large-dimensional problems.We find evidence in favour of assuming equicorrelation across various portfolio sizes, particularly during times of crisis. During periods of market calm, however, the suitability of the constant conditional correlation model cannot be discounted, especially for large portfolios. A portfolio allocation problem is used to compare forecasting methods. The global minimum variance portfolio and Model Confidence Set are used to compare methods, while portfolio weight stability and relative economic value are also considered.

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Purpose The purpose of this paper is to explore what the attitudes of small firm owner-managers are to developing the skills of their key resources and then examine how these and other factors affect owner-managers’ preferences for training these employees. Design/methodology/approach This study of training in small road transport firms in West Australia is cast in light of the literature on human resource management in small firms underpinned by insights drawn using the resource based view of the firm. Small firms (less than 20 people) dominate this industry, while the increasing freight task, and extreme distances between West Australian ports, towns and mines highlight this sectors’ importance. Survey results from 39 small road transport firms and interviews with nine owner-managers are analysed. Findings Legislative, regulatory and licensing requirements were shown to be a key determinant of skills development. Employers ensured that basic standards for employee certification and qualification were met, as the penalty for not doing so would be too high. Regulations drove the need for certain types of training – licenses, fatigue management, occupational health and safety, handling dangerous goods, the Maritime Security Identification Card card, forklift license, mine site inductions – while owner-managers knew where to get the training their staff needed. Although regulation appeared most visible in prescribing what happened in relation to training for drivers, the relevance of owner-managers’ attitudes could not be ignored, nor could conditions in the firms external environment as this shaped how these requirements were met. Research limitations/implications The RBV is useful in showing how skill development enabled similarity in skills across firms, while the attitudes owner-managers and economic and social conditions meant what happened in firms around skill development varied. The importance of small firm owner-managers’ attitudes are clearly highlighted and shown to influence organizational decisions and choices around training, but these were not independent of the regulatory framework and the economic and social conditions within which the firm operated. The small firms in this study did engage workers in formal training when necessary but it was put in the context of the idiosyncratic approach of the owner-manager and the day-to-day needs of the firm. “Training” was essentially about ensuring certain types of skills were held by employees and then passing on knowledge to ensure the behavior of employees was consistent with the owner-manager’s vision for the firm in its current environment. Originality/value Ways industry and government can encourage training activity that goes beyond the day-to-day firm needs are suggested.

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This research presents an insider's account of rage, Australia's longest-running music video program. The research's significance is that there has been scarce scholarly analysis of this idiosyncratic ABC program, despite its longevity and uniqueness. The thesis takes a reflective and reflexive narrative journey across rage's decades, presenting the accounts of the program makers, aided by the perspective of an embedded researcher, the program's former Series Producer. This work addresses the rage research gap and contributes to the scholarly discussion on music video and its contexts, the ABC, public service broadcasting, creative labour, and the cultural sense-making of television producers.

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Unlike US and Continental European jurisdictions, Australian monetary policy announcements are not followed promptly by projections materials or comprehensive summaries that explain the decision process. This information is disclosed 2 weeks later when the explanatory minutes of the Reserve Bank board meeting are released. This paper is the first study to exploit the features of the Australian monetary policy environment in order to examine the differential impact of monetary policy announcements and explanatory statements on the Australian interest rate futures market. We find that both monetary policy announcements and explanatory minutes releases have a significant impact on the implied yield and volatility of Australian interest rate futures contracts. When the differential impact of these announcements is examined using the full sample, no statistically significant difference is found. However, when the sample is partitioned based on stable periods and the Global Financial Crisis, a differential impact is evident. Further, contrary to the findings of Kim and Nguyen (2008), Lu et al. (2009), and Smales (2012a), the response along the yield curve, is found to be indifferent between the short and medium terms.

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A creative practice as research, UNDER THIS SKY is the latest investigation in a 12-year study into the “QMF Model”, an application of principles of community and cultural practice that generates large-scale, music spectacle events that derive their narrative and expression from the communities in which they are performed. UNDER THIS SKY is a large-scale musical specially commissioned for the city of Logan (Queensland) as the signature work of the 2015 Queensland Musical Festival. The investigation centres around the capacity of the “QMF Model” to engage with performers and musicians of Logan and then, through community consultation, create a narrative based on idiosyncratic stories and themes that would culminate in a performance event in August 2015. Previous creative projects, Boomtown (Gladstone), Behind the Cane (Bowen) and The Road We’re On (Charleville), were conducted in relatively small communities, Gladstone being the largest. In UNDER THIS SKY, the model is being tested in a large metropolitan city (Logan – 300,000). The core principles of CACD (community arts and cultural development) are being interrogated and adapted to fit this large-scale, whole of community environment. The purpose is to refine and further validate the “QMF Model” as a viable and effective process for community/artistic partnerships. Since February 2014, professional artists and managers have facilitated and shaped the work, up-skilling performers over a periods of 12 months, developing new relationships and creating opportunities for participation at all levels of experience. The research methodology involved creative practice through a continuous cycle of action, reflection, adaptation and application.

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This thesis improves our insight towards the effects of using biodiesels on the particulate matter emission of diesel engines and contributes to our understanding of their potential adverse health effects. The novelty of this project is the use of biodiesel fuel with controlled chemical composition that enables us to relate changes of physiochemical properties of particles to specific properties of the biodiesel. For the first time, the possibility of a correlation of the volatility and the Reactive Oxygen Species concentration of the particles is investigated versus the saturation, oxygen content and carbon chain length of the fuel.

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Attitudes, knowledge, and skills are widely recognised as the three pillars of professional competence of inclusive education teachers. Studies emerging from the Chinese context consider these three pillars important for the practice of Learning in Regular Classrooms—an idiosyncratic Chinese form of inclusive education. Our mixed methods study reveals that agency is the fourth pillar of the professional competence for inclusive education teachers in Beijing, China. Results from comparative analysis indicate that the level of teachers’ agency is significantly lower than that of their attitudes, knowledge, and skills. We offer some implications for policy and practice in inclusive education.