Isomorphic effects of managerial and directoral career paths

The extensive array of interlocking directorate research remains near-exclusively cross-sectional or comparative cross-sectional in nature. While this has been fruitful in identifying persistent structures of inter-organisational relationships evidence of the impact of these structures on organisational performance or activity has been more limited. This should not be surprising because, by their nature, relationships have strong longitudinal and dynamic qualities that are likely to be difficult to isolate through cross-sectional approaches. Clearly, managerial practice is inevitably strongly conditioned by the specific contingencies of the time and the information available through networks of colleagues and advisers (particularly at board level) at the time. But managerial and directoral capabilities and mental sets are also developed over time, particularly through previous experiences in these roles and the formation of long-lasting 'strong' and 'weak' relationships. This paper tests the influence of three longitudinal dimensions of managers and directors' relationships on a set of indicators of financial performance, drawing from a large dataset of detailing historic board membership of UK firms. It finds evidence of isomorphic processes through these channels and establishes that the longitudinal design considerably enhances the detection of performance effects from directorate interlocks. More broadly, the research has implications for the conception of collective action and the constitution of 'community'.

The missing link between information and action: hastenings and delays as universal reactions to performance feedback

This chapter focuses on what the key decision makers in organizations decide after having received information on the current state of the organizational performance. Because of strong attributions to success and failure, it is impossible to predict in advance which concrete actions will occur. We can however find out what kinds of actions are decided upon by means of an organizational learning model that focuses on the hastenings and delays after performance feedback. As an illustration, the responses to performance signals by trainers and club owners in Dutch soccer clubs are analyzed.

Modelling of industrial multi-physics processes—a key role for computational mechanics.

In the analysis of industrial processes, there is an increasing emphasis on systems governed by interacting continuum phenomena. Mathematical models of such multi-physics processes can only be achieved for practical simulations through computational solution procedures—computational mechanics. Examples of such multi-physics systems in the context of metals processing are used to explore some of the key issues. Finite-volume methods on unstructured meshes are proposed as a means to achieve efficient rapid solutions to such systems. Issues associated with the software design, the exploitation of high performance computers, and the concept of the virtual computational-mechanics modelling laboratory are also addressed in this context.

Portability, predictability and performance for parallel computing: BSP in practice

We report on practical experience using the Oxford BSP Library to parallelize a large electromagnetic code, the British Aerospace finite-difference time-domain code EMMA T:FD3D. The Oxford BS Library is one of the first realizations of the Bulk Synchronous Parallel computational model to be targeted at numerically intensive scientific (typically Fortran) computing. The BAe EMMA code is one of the first large-scale applications to be parallelized using this library, and it is an important demonstration of the cost effectiveness of the BSP approach. We illustrate how BSP cost-modelling techniques can be used to predict and optimize performance for single-source programs across different parallel platforms. We provide predicted and observed performance figures for an industrial-strength, single-source parallel code for a variety of real parallel architectures: shared memory multiprocessors, workstation clusters and massively parallel platforms.

Bulk synchronous parallelization of industrial electromagentic software

The parallelization of existing/industrial electromagnetic software using the bulk synchronous parallel (BSP) computation model is presented. The software employs the finite element method with a preconditioned conjugate gradient-type solution for the resulting linear systems of equations. A geometric mesh-partitioning approach is applied within the BSP framework for the assembly and solution phases of the finite element computation. This is combined with a nongeometric, data-driven parallel quadrature procedure for the evaluation of right-hand-side terms in applications involving coil fields. A similar parallel decomposition is applied to the parallel calculation of electron beam trajectories required for the design of tube devices. The BSP parallelization approach adopted is fully portable, conceptually simple, and cost-effective, and it can be applied to a wide range of finite element applications not necessarily related to electromagnetics.

Parallel performance in multi-physics simulation

A comprehensive simulation of solidification/melting processes requires the simultaneous representation of free surface fluid flow, heat transfer, phase change, non-linear solid mechanics and, possibly, electromagnetics together with their interactions in what is now referred to as "multi-physics" simulation. A 3D computational procedure and software tool, PHYSICA, embedding the above multi-physics models using finite volume methods on unstructured meshes (FV-UM) has been developed. Multi-physics simulations are extremely compute intensive and a strategy to parallelise such codes has, therefore, been developed. This strategy has been applied to PHYSICA and evaluated on a range of challenging multi-physics problems drawn from actual industrial cases.

Investigation into the performance of turbulence models for fluid flow and heat transfer phenomena in electronic applications

Heat is extracted away from an electronic package by convection, conduction, and/or radiation. The amount of heat extracted by forced convection using air is highly dependent on the characteristics of the airflow around the package which includes its velocity and direction. Turbulence in the air is also important and is required to be modeled accurately in thermal design codes that use computational fluid dynamics (CFD). During air cooling the flow can be classified as laminar, transitional, or turbulent. In electronics systems, the flow around the packages is usually in the transition region, which lies between laminar and turbulent flow. This requires a low-Reynolds number numerical model to fully capture the impact of turbulence on the fluid flow calculations. This paper provides comparisons between a number of turbulence models with experimental data. These models included the distance from the nearest wall and the local velocity (LVEL), Wolfshtein, Norris and Reynolds, k-ε, k-ω, shear-stress transport (SST), and kε/kl models. Results show that in terms of the fluid flow calculations most of the models capture the difficult wake recirculation region behind the package reasonably well, although for packages whose heights cause a high degree of recirculation behind the package the SST model appears to struggle. The paper also demonstrates the sensitivity of the models to changes in the mesh density; this study is aimed specifically at thermal design engineers as mesh independent simulations are rarely conducted in an industrial environment.

Exploring the conditional performance of UK unit trusts

We evaluate the conditional performance of U.K. equity unit trusts using the approach of Lynch and Wachter (2007, 2008) relative to three conditional linear factor models. We find significant time variation in the conditional performance of some trust portfolios and individual trusts using the lag term spread as the information variable. The conditional performance of the trusts is countercyclical and larger trusts have more countercyclical performance than smaller trusts within certain investment sectors. These patterns in conditional trust performance cannot be fully explained by the underlying securities that the trusts hold.

Accelerated carbonation treatment of industrial wastes

The disposal of industrial waste presents major logistical, financial and environmental issues. Technologies that can reduce the hazardous properties of wastes are urgently required. In the present work, a number of industrial wastes arising from the cement, metallurgical, paper, waste disposal and energy industries were treated with accelerated carbonation. In this process carbonation was effected by exposing the waste to pure carbon dioxide gas. The paper and cement wastes chemically combined with up to 25% by weight of gas. The reactivity of the wastes to carbon dioxide was controlled by their constituent minerals, and not by their elemental composition, as previously postulated. Similarly, microstructural alteration upon carbonation was primarily influenced by mineralogy. Many of the thermal wastes tested were classified as hazardous, based upon regulated metal content and pH. Treatment by accelerated carbonation reduced the leaching of certain metals, aiding the disposal of many as stable non-reactive wastes. Significant volumes of carbon dioxide were sequestrated into the accelerated carbonated treated wastes.

An industrial implementation of a methodology for the optimisation of product design tolerances

Today, the key to commercial success in manufacturing is the timely development of new products that are not only functionally fit for purpose but offer high performance and quality throughout their entire lifecycle. In principle, this demands the introduction of a fully developed and optimised product from the outset. To accomplish this, manufacturing companies must leverage existing knowledge in their current technical, manufacturing and service capabilities. This is especially true in the field of tolerance selection and application, the subject area of this research. Tolerance knowledge must be readily available and deployed as an integral part of the product development process. This paper describes a methodology and framework,currently under development in a UK manufacturer, to achieve this objective.

The performance and persistence of exchange-traded funds: evidence for iShares MSCI country-specific ETFs

The aim of this paper is to investigate the performance and persistence of 20 iShares MSCI country-specific exchange-traded funds (ETFs) in comparison with S&P 500 index over the period July 2001 to June 2006. There are several studies analysing mutual funds performance in past years, but very little is known about ETFs. In our analysis the Sharpe, Treynor and Sortino ratios are used as risk-adjusted performance measures. To evaluate performance persistence and therefore if there is any relationship among past performance and future performance, we apply to the Spearman Rank Correlation Coefficient and the Winner-loser Contingency Table. The main findings are at two levels. First, ETFs can beat the U.S. market index based on risk-adjusted performance measures. Second, there is evidence of ETFs performance persistence based on annual return.