The political and economic context of Keynes’s 1933 Finlay lecture: transforming a business practitioner’s ways of knowing

This thesis is structured in the format of a three part Portfolio of Exploration to facilitate transformation in my ways of knowing to enhance an experienced business practitioner’s capabilities and effectiveness. A key factor in my ways of knowing, as opposed to what I know, is my exploration of context and assumptions. By interacting with my cultural, intellectual, economic, and social history, I seek to become critically aware of the biographical, historical, and cultural context of my beliefs and feelings about myself. This Portfolio is not exclusively for historians of economics or historians of ideas but also for those interested in becoming more aware of how these culturally assimilated frames of reference and bundles of assumptions that influence the way they perceive, think, decide, feel and interpret their experiences in order to operate more effectively in their professional and organisational lives. In the first part of my Portfolio, I outline and reflect upon my Portfolio’s overarching theory of adult development; the writings of Harvard’s Robert Kegan and Columbia University’s Jack Mezirow. The second part delves further into how meaning-making, the activity of how one organises and makes sense of the world and how meaning-making evolves to different levels of complexity. I explore how past experience and our interpretations of history influences our understandings since all perception is inevitably tinged with bias and entrenched ‘theory-laden’ assumptions. In my third part, I explore the 1933 inaugural University College Dublin Finlay Lecture delivered by economist John Maynard Keynes. My findings provide a new perspective and understanding of Keynes’s 1933 lecture by not solely reading or relying upon the text of the three contextualised essay versions of his lecture. The purpose and context of Keynes’s original longer lecture version was quite different to the three shorter essay versions published for the American, British and German audiences.

An archaeology of female monasticism in medieval Ireland

This thesis considers the archaeological evidence for female monasticism in medieval Ireland, with a particular emphasis on the later medieval period. Female monasticism has been considered from an archaeological perspective in several countries, most notably Britain, but has yet to be considered in any detail in Ireland. The study aims to bring together all the currently available evidence on female monasticism and consider it through an engendered archaeological approach. The data gathering for this research has been deliberately wide, and where gaps have been identified in the Irish evidence, comparative material from elsewhere has been considered. Nunneries should not be expected to conform to what has become the male monastic template of a claustrally-planned monastery. The research conducted shows a distinct and varied archaeology and architecture for medieval nunneries in Ireland which suggests that a claustral plan was not considered an essential part of a nunnery scheme. Nunneries provided an enclosed environment where women, for a variety of motives could become brides of Christ. Through the performance and celebration of the daily Divine Office, the Mass and seasonal liturgy, spaces used by the nunnery community were negotiated and transformed into a sacred Paradise on earth. However, rather than being isolated in the landscape nunneries in later medieval Ireland were located either within or close to walled towns, larger unenclosed settlements and settlement clusters and would have been well known throughout their hinterlands. This research concludes that nunneries were an intrinsic part of the medieval monastic landscape in Ireland and an essential component of patrons’ portfolios of patronage, at a particularly local level, and where they interacted closely with their local community.

Pairs trading in the UK equity market: risk and return

In this paper, we provide the first comprehensive UK evidence on the profitability of the pairs trading strategy. Evidence suggests that the strategy performs well in crisis periods, so we control for both risk and liquidity to assess performance. To evaluate the effect of market frictions on the strategy, we use several estimates of transaction costs. We also present evidence on the performance of the strategy in different economic and market states. Our results show that pairs trading portfolios typically have little exposure to known equity risk factors such as market, size, value, momentum and reversal. However, a model controlling for risk and liquidity explains a far larger proportion of returns. Incorporating different assumptions about bid-ask spreads leads to reductions in performance estimates. When we allow for time-varying risk exposures, conditioned on the contemporaneous equity market return, risk-adjusted returns are generally not significantly different from zero.