Commonality in Returns, Order Flows, and Liquidity in the Greek Stock Market

Using a unique high-frequency data-set on a comprehensive sample of Greek blue-chip stocks, spanning from September 2003 through March 2006, this note assesses the extent and role of commonality in returns, order flows (OFs), and liquidity. It also formally models aggregate equity returns in terms of aggregate equity OF, in an effort to clarify OF's importance in explaining returns for the Athens Exchange market. Almost a quarter of the daily returns in the FTSE/ATHEX20 index is explained by aggregate own OF. In a second step, using principal components and canonical correlation analyses, we document substantial common movements in returns, OFs, and liquidity, both on a market-wide basis and on an individual security basis. These results emphasize that asset pricing and liquidity cannot be analyzed in isolation from each other.

Sea turtle diving and foraging behaviour around the Greek Island of Kefalonia

The discovery of a shallow water (

‘Facing the Fact: Word and Image in Muriel Rukeyser’s “Worlds Alongside”’

This essay explores an example of a little-known, yet highly significant part of Rukeyser’s early oeuvre: the magazine photo-narrative. Profoundly engaged with the documentary expression of the 1930s, Rukeyser utilised the genre’s methods, aesthetics and images to create a hybrid text reporting the realities of the Depression in lyrical, imaginative terms. The result is a conflation of what Rukeyser understood to constitute poetry, and therefore life: the document and the unverifiable fact, presented in an innovative format that is shaped by Rukeyser’s ethical poetics of connection to construct lessons in creative exchange and being in the world.

The last word:Family members' descriptions of end-of-life care in long-term care facilities

A postal survey was used to collect data from family members of deceased residents of six long-term care (LTC) facilities in order to explore end-of-life (EOL) care using the Family Perception of Care Scale. This article reports on the results of thematic analysis of family member comments provided while completing the survey. Family comments fell into two themes: 1) appreciation for care and 2) concerns with care. The appreciation for care theme included the following subthemes: psychosocial support, family care, and spiritual care. The concerns with care theme included the subthemes: physical care, staffing levels, staff knowledge, physician availability, communication, and physical environment. This study identified the need for improvement in EOL care skills among LTC staff and attending physicians. As such, there is a need to implement continuing education to address these issues. © 2006 Centre for Bioethics, IRCM.

The Greek Debt Crisis and Southern Europe: Majoritarian Pitfalls?

Although widely debated in broader socioeconomic terms, the Eurozone crisis has not received adequate scholarly attention with regards to the impact of alternative political systems. This article revisits the debate on majoritarian and consensus democracies drawing on recent evidence from the Eurozone debacle. Greece is particularly interesting both with regards to its potential ‘global spillover effects’ and choice of political system. Despite facing comparable challenges as Portugal and Spain, the country has become polarized socially and politically, seeing a record number of MP defections, electoral volatility and the rise of the militant extreme right. The article explains why Greece, the country that relied most extensively on majoritarian institutions, entered the global financial crisis in the most vulnerable position while subsequently faced insurmountable political and institutional obstacles in its management. The article points to the paradox of majoritarianism: in times of economic stress, the first ‘casualties’ are its strongest elements – centrist parties (bi-partisanship) and cabinet stability.

The executive committee of the Greek Professional Association of Social Work in an age of austerity: examining its response

This paper explores the response by the Greek Association of Social Workers (SKLE) to Greece's current economic crisis. Socioeconomic conditions in Greece have deteriorated rapidly since the imposition of a Structural Adjustment Programme as a condition of the loan Troika provided to Greece to address its class-based public debt crisis. Interviews were conducted with SKLE Executive Committee members to examine SKLE's response in the context of newly raised inequalities. Research results show that SKLE recognised the negative consequences to both service users and its members. However, SKLE continues to reformulate its strategy mostly as a social partner. SKLE's previous strategy entailed amongst other things the analysis of policy proposals and participation in welfare related government committees. This strategy is no longer relevant because decision-making powers have been transferred to transnational bodies. This paper elaborates on these findings and discusses the barriers that prohibit SKLE from differentiation of its strategy. Although the research is country specific, it has implications for the broader global debate because professional associations must reformulate their strategies for better serving of both their constituents and the collective good based on the social justice mandate of the profession.

The idea, the machine, and the art: word and image in the 21st century

Taking in recent advances in neuroscience and digital technology, Gander and Garland assess the state of the inter-arts in America and the Western world, exploring and questioning the primacy of affect in an increasingly hypertextual everyday environment. In this analysis they signal a move beyond W. J. T. Mitchell’s coinage of the ‘imagetext’ to an approach that centres the reader-viewer in a recognition, after John Dewey, of ‘art as experience’. New thinking in cognitive and computer sciences about the relationship between the body and the mind challenges any established definitions of ‘embodiment’, ‘materiality’, ‘virtuality’ and even ‘intelligence, they argue, whilst ‘Extended Mind Theory’, they note, marries our cognitive processes with the material forms with which we engage, confirming and complicating Marshall McLuhan’s insight, decades ago, that ‘all media are “extensions of man”’. In this chapter, Gander and Garland open paths and suggest directions into understandings and critical interpretations of new and emerging imagetext worlds and experiences.

The Rise and Fall of a Translational Compound: ‘Only Begotten’ in the English Translations of the New Testament

The present paper is an attempt to account for the emergence of the designation “only begotten” in the English Bible, its widespread use in pre-modern versions, and its gradual and almost complete disappearance from most contemporary translations. A close examination of the origins of this designation, traceable to its Latin cognate unigenitus, first introduced into the biblical tradition by St. Jerome to render selected occurrences of the Greek adjective monogenes, reveals a unique theological inspiration behind it. “Only begotten,” recurring in English translation of the Bible for almost six centuries as an important christological title, has recently been replaced by translational solutions reflecting a more accurate understanding of the underlying Greek word.

The Sacred and the Obscure: Greek in the Carolingian Reception of Martianus Capella

Carolingian scholars paid considerable attention to the Greek found in Martianus Capella’s De nuptiis Philologiae et Mercurii, a late antique Latin work full of obscurities in language and imagery. This article, focusing on glosses on De nuptiis from the oldest gloss tradition, demonstrates that a range of material was available to ninth-century scholars to elucidate Martianus’s Greek and that Greek seems, at times, to have served as a means to obscure. I argue that their interest in obscurity reflects a widespread epistemology and strategy of concealment, hence their intellectual investment in Martianus. For ninth-century readers, then, the Greek in the glossed Martianus manuscripts, however decorative it may have been, also operated at the core of medieval hermeneutics.