Stochastic volatility jump-diffusions for European equity index dynamics

Major research on equity index dynamics has investigated only US indices (usually the S&P 500) and has provided contradictory results. In this paper a clarification and extension of that previous research is given. We find that European equity indices have quite different dynamics from the S&P 500. Each of the European indices considered may be satisfactorily modelled using either an affine model with price and volatility jumps or a GARCH volatility process without jumps. The S&P 500 dynamics are much more difficult to capture in a jump-diffusion framework.

'What with your grades?': Students motivation for and experience of vocational courses in further education

In this article we seek to explore the motivations for studying a vocational qualification of 40 students currently in further education. We consider student decision making, in terms of the support and guidance received, and examine the value these students place on their training, particularly with respect to their future employment. Drawing on qualitative data from 40 students we argue that a student’s sense of their educational identity is important in understanding their motivations for vocational training in the first instance as well as a lack of good careers information and guidance.

Generalized beta generated distributions

This article introduces generalized beta-generated (GBG) distributions. Sub-models include all classical beta-generated, Kumaraswamy-generated and exponentiated distributions. They are maximum entropy distributions under three intuitive conditions, which show that the classical beta generator skewness parameters only control tail entropy and an additional shape parameter is needed to add entropy to the centre of the parent distribution. This parameter controls skewness without necessarily differentiating tail weights. The GBG class also has tractable properties: we present various expansions for moments, generating function and quantiles. The model parameters are estimated by maximum likelihood and the usefulness of the new class is illustrated by means of some real data sets.

Manipulating resource allocation in plants

The distribution of nutrients and assimilates in different organs and tissues is in a constant state of flux throughout the growth and development of a plant. At key stages during the life cycle profound changes occur, and perhaps one of the most critical of these is during seed filling. By restricting the competition for reserves in Arabidopsis plants, the ability to manipulate seed size, seed weight, or seed content has been explored. Removal of secondary inflorescences and lateral branches resulted in a stimulation of elongation of the primary inflorescence and an increase in the distance between siliques. The pruning treatment also led to the development of longer and larger siliques that contained fewer, bigger seeds. This seems to be a consequence of a reduction in the number of ovules that develop and an increase in the fatty acid content of the seeds that mature. The data show that shoot architecture could have a substantial impact on the partitioning of reserves between vegetative and reproductive tissues and could be an important trait for selection in rapid phenotyping screens to optimize crop performance.

The role of the pod in seed development: strategies for manipulating yield

Pods play a key role in encapsulating the developing seeds and protecting them from pests and pathogens. In addition to this protective function, it has been shown that the photosynthetically active pod wall contributes assimilates and nutrients to fuel seed growth. Recent work has revealed that signals originating from the pod may also act to coordinate grain filling and regulate the reallocation of reserves from damaged seeds to those that have retained viability. In this review we consider the evidence that pods can regulate seed growth and maturation, particularly in members of the Brassicaceae family, and explore how the timing and duration of pod development might be manipulated to enhance either the quantity of crop yield or its nutritional properties.

Variability of starch-based thickened drinks for patients with dysphagia in the hospital setting

Starch-based thickening agents may be prescribed for patients with dysphagia. Thickened fluids alter variables of the swallow reflex, allowing more time for bolus manipulation without compromising airway closure. This investigation explored the variation in viscosity and physical characteristics of thickened drinks prepared in different media under laboratory conditions and compared the results with those of thickened drinks presented to dysphagic patients in one hospital. The rheological characteristics were tested on a simple plastometer and a Bohlin CVOR rheometer (Malvern Instruments, Worcestershire, UK). Samples prepared to “syrup” consistency both in the laboratory and in the hospitalwere significantly different from each other (P < 0.0001). This was also the case for samples prepared to “custard” consistency. Differences existed not only in viscosity, but drinks prepared in different media produced different rheological matrices. This signifies different viscoelastic behaviors that may effect manipulation in the mouth. From this study, preparation of thickened drinks using starch-based instant thickening powders appears to be a highly variable practice.

Advanced skills teachers: professional identity and status

The teaching profession continues to struggle with defining itself in relation to other professions. Even though public opinion positions teachers second only to doctors and nurses in terms of their professional status and prestige research in the UK suggests that teachers still believe that they have much lower status than other professions. With teacher job satisfaction considerably lower today than the past and on-going issues with teacher recruitment and retention, new government policies have set out to enhance the status of teachers both within and outside of the profession. The Advanced Skill Teacher (AST) grade was introduced in 1998 as a means to recognise and reward teaching expertise and was framed as a way of also raising the status of the teaching profession. As to what a teaching professional should look like, the AST was in many ways positioned as the embodiment. Using survey data from 849 ASTs and in depth interviews with 31, this paper seeks to explores the ways that the AST designation impacts or not on teachers’ perceptions of their professional identity. In particular, the paper considers whether such awards contribute in positive ways to a teacher’s sense of professional identity and status. The results from the research suggest that teaching grades that recognise and reward teaching excellence do contribute in important ways to a teachers’ professional identity via an increased sense of recognition, reward and job satisfaction. The results from this research also suggest that recognising the skills and expertise of teachers is clearly important in supporting teacher retention. This is because as it allows highly accomplished teachers to remain where they want to be and that is the classroom.

Ethylene and senescence processes

Senescence is a vitally important sequence of events in the latter phase of the life cycle of a plant that determines yield and reproductive success. In many species, and in different plant organs, ethylene is a key regulator of senescence and an increased understanding of the way the hormone functions will enable the timing and location of senescence to be manipulated in order to improve yield, quality and longevity. This chapter examines the physiological and molecular regulation of senescence in different plant organs and introduces the concept of the ‘senescence window’ in which plant organs are receptive to ethylene-mediated senescence cues. Several studies have attempted to elucidate global patterns of the regulation of senescence, which have enabled the function of ethylene to be placed in the context of the involvement of other, often antagonistic, hormones in the execution of senescence and downstream processes. Finally, we examine the consequences of senescence for post-harvest biology, an area where the control of ethylene action has been actively sought in order to control precisely the timing of senescence and ripening processes so that crop quality can be enhanced and maintained.