Detailed analysis of data from heat pumps installed via the Renewable Heat Premium Payment Scheme

The RHPP policy provided subsidies for private householders, Registered social landlords and communities to install renewable heat measures in residential properties. Eligible measures included air and ground-source heat pumps, biomass boilers and solar thermal. Around 18,000 heat pumps were installed via this scheme. DECC funded a detailed monitoring campaign, which covered 700 heat pumps (around 4% of the total). The aim of this monitoring campaign was to assess the efficiencies of the heat pumps and to estimate the carbon and bill savings and amount of renewable heat generated. Data was collected from 31/10/2013 to 31/03/2015. This report represents the analysis of this data and represents the most complete and reliable data in-situ residential heat pump performance in the UK to date.

Long-term performance of mergers and acquisitions in ASEAN countries

The study looks at mergers and acquisitions (M&As) in ASEAN countries and examines the post-M&A performance using data from 2001 to 2012. The industry-adjusted operating performance tends to decline in the 3 years following an M&A. Yet, the results suggest that M&As completed during the financial crisis are more profitable than those implemented before and/or after the crisis. We argue that this is mainly due to the synergies created between the firms’ resources during the crisis which augur well for firms’ economic performance. We find that, during the crisis, certain characteristics of the firms like the relative size of the target, cross-border nature of deals, acquirer's cash reserves and friendly nature of deals are important determinants of long-term post-M&A operating performance. However, for M&As during the crisis, there appears to be no relationship between performance and firms’ characteristics linked to M&A activity such as payment method, industry relatedness and percentage of target's share acquired.

Revisiting the relationship between marketing capabilities and firm performance: The moderating role of market orientation, marketing strategy and organisational power

This paper extends original insights of resource-advantage theory (Hunt & Morgan, 1995) to a specific analysis of the moderators of the capabilities-performance relationship such as market orientation, marketing strategy and organizational power. Using established measures and a representative sample of UK firms drawn from Verhoef and Leeflang’s data (2009), our study tests new hypotheses to explain how different types of marketing capabilities contribute to firm performance. The application of resource-advantage theory advances theorising on both marketing and organisational antecedents of firm performance and the causal mechanisms by which competitive advantage is generated.

Fractionating Human Intelligence

What makes one person more intellectually able than another? Can the entire distribution of human intelligence be accounted for by just one general factor? Is intelligence supported by a single neural system? Here, we provide a perspective on human intelligence that takes into account how general abilities or ‘‘factors’’ reflect the functional organiza- tion of the brain. By comparing factor models of individual differences in performance with factor models of brain functional organization, we demon- strate that different components of intelligence have their analogs in distinct brain networks. Using simulations based on neuroimaging data, we show that the higher-order factor ‘‘g’’ is accounted for by cognitive tasks corecruiting multiple networks. Finally, we confirm the independence of these com- ponents of intelligence by dissociating them using questionnaire variables. We propose that intelli- gence is an emergent property of anatomically distinct cognitive systems, each of which has its own capacity.