127 resultados para Asset assurance measures


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In this study two new measures of lexical diversity are tested for the first time on French. The usefulness of these measures, MTLD (McCarthy and Jarvis (2010 and this volume) ) and HD-D (McCarthy and Jarvis 2007), in predicting different aspects of language proficiency is assessed and compared with D (Malvern and Richards 1997; Malvern, Richards, Chipere and Durán 2004) and Maas (1972) in analyses of stories told by two groups of learners (n=41) of two different proficiency levels and one group of native speakers of French (n=23). The importance of careful lemmatization in studies of lexical diversity which involve highly inflected languages is also demonstrated. The paper shows that the measures of lexical diversity under study are valid proxies for language ability in that they explain up to 62 percent of the variance in French C-test scores, and up to 33 percent of the variance in a measure of complexity. The paper also provides evidence that dependence on segment size continues to be a problem for the measures of lexical diversity discussed in this paper. The paper concludes that limiting the range of text lengths or even keeping text length constant is the safest option in analysing lexical diversity.

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For decades regulators in the energy sector have focused on facilitating the maximisation of energy supply in order to meet demand through liberalisation and removal of market barriers. The debate on climate change has emphasised a new type of risk in the balance between energy demand and supply: excessively high energy demand brings about significantly negative environmental and economic impacts. This is because if a vast number of users is consuming electricity at the same time, energy suppliers have to activate dirty old power plants with higher greenhouse gas emissions and higher system costs. The creation of a Europe-wide electricity market requires a systematic investigation into the risk of aggregate peak demand. This paper draws on the e-Living Time-Use Survey database to assess the risk of aggregate peak residential electricity demand for European energy markets. Findings highlight in which countries and for what activities the risk of aggregate peak demand is greater. The discussion highlights which approaches energy regulators have started considering to convince users about the risks of consuming too much energy during peak times. These include ‘nudging’ approaches such as the roll-out of smart meters, incentives for shifting the timing of energy consumption, differentiated time-of-use tariffs, regulatory financial incentives and consumption data sharing at the community level.

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Asset allocation is concerned with the development of multi--‐asset portfolio strategies that are likely to meet an investor’s objectives based on the interaction of expected returns, risk, correlation and implementation from a range of distinct asset classes or beta sources. Challenges associated with the discipline are often particularly significant in private markets. Specifically, composition differences between the ‘index’ or ‘benchmark’ universe and the investible universe mean that there can often be substantial and meaningful deviations between the investment characteristics implied in asset allocation decisions and those delivered by investment teams. For example, while allocation decisions are often based on relatively low--‐risk diversified real estate ‘equity’ exposure, implementation decisions frequently include exposure to higher risk forms of the asset class as well as investments in debt based instruments. These differences can have a meaningful impact on the contribution of the asset class to the overall portfolio and, therefore, lead to a potential misalignment between asset allocation decisions and implementation. Despite this, the key conclusion from this paper is not that real estate investors should become slaves to a narrowly defined mandate based on IPD / NCREIF or other forms of benchmark replication. The discussion suggests that such an approach would likely lead to the underutilization of real estate in multi--‐asset portfolio strategies. Instead, it is that to achieve asset allocation alignment, real estate exposure should be divided into multiple pools representing distinct forms of the asset class. In addition, the paper suggests that associated investment guidelines and processes should be collaborative and reflect the portfolio wide asset allocation objectives of each pool. Further, where appropriate they should specifically target potential for ‘additional’ beta or, more marginally, ‘alpha’.

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Many different performance measures have been developed to evaluate field predictions in meteorology. However, a researcher or practitioner encountering a new or unfamiliar measure may have difficulty in interpreting its results, which may lead to them avoiding new measures and relying on those that are familiar. In the context of evaluating forecasts of extreme events for hydrological applications, this article aims to promote the use of a range of performance measures. Some of the types of performance measures that are introduced in order to demonstrate a six-step approach to tackle a new measure. Using the example of the European Centre for Medium-Range Weather Forecasts (ECMWF) ensemble precipitation predictions for the Danube floods of July and August 2002, to show how to use new performance measures with this approach and the way to choose between different performance measures based on their suitability for the task at hand is shown. Copyright © 2008 Royal Meteorological Society

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The steady growth of social and environmental reporting (SER) is being accompanied by an increase in social and environmental reporting assurance (SERA). The existing literature on SERA suggests that it is necessary to build credibility and trust among corporate stakeholders. Prior work has also found evidence of managerial and professional capture of SERA. In this paper, we present empirical evidence from interviews with corporate social responsibility representatives from 20 UK listed companies on whether they consider SERA to be necessary. We believe this to be the first research into SERA that uses an interview method. Our interviews revealed mixed feelings. Half of the respondents believed that external SERA would enhance credibility and trust which confirmed the prior literature. However, the other half believed that external SERA was not necessary, believing that internal assurance was sufficient. This was because they saw SERA as predominantly a managerial tool, useful for checking the efficiency of internal management control systems, rather than as a mechanism for enhancing corporate accountability to stakeholders and building credibility and trust. The potential for SERA to be a mechanism whereby greater dialogue is created between companies and their stakeholders on social and environmental issues is not being harnessed. This paper thus demonstrates a fundamental difference between the external prior normative literature and the managerial motivation in the SERA area.

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Purpose – The purpose of the research was to discover the process of social and environmental report assurance (SERA) and thereby evaluate the benefits, extent of stakeholder inclusivity and/or managerial capture of SERA processes and the dynamics of SERA as it matures. Design/methodology/approach – This paper used semi-structured interviews with 20 accountant and consultant assurors to derive data, which were then coded and analysed, resulting in the identification of four themes. Findings – This paper provides interview evidence on the process of SERA, suggesting that, although there is still managerial capture of SERA, stakeholders are being increasingly included in the process as it matures. SERA is beginning to provide dual-pronged benefits, adding value to management and stakeholders simultaneously. Through the lens of Freirian dialogic theory, it is found that SERA is starting to display some characteristics of a dialogical process, being stakeholder inclusive, demythologising and transformative, with assurors perceiving themselves as a “voice” for stakeholders. Consequently, SERA is becoming an important mechanism for driving forward more stakeholder-inclusive SER, with the SERA process beginning to transform attitudes of management towards their stakeholders through more stakeholder-led SER. However, there remain significant obstacles to dialogic SERA. The paper suggests these could be removed through educative and transformative processes driven by assurors. Originality/value – Previous work on SERA has involved predominantly content-based analysis on assurance statements. However, this paper investigates the details of the SERA process, for the first time using qualitative interview data.

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Background: Exposure to solar ultraviolet-B (UV-B) radiation is a major source of vitamin D3. Chemistry climate models project decreases in ground-level solar erythemal UV over the current century. It is unclear what impact this will have on vitamin D status at the population level. The purpose of this study was to measure the association between ground-level solar UV-B and serum concentrations of 25-hydroxyvitamin D (25(OH)D) using a secondary analysis of the 2007 to 2009 Canadian Health Measures Survey (CHMS). Methods: Blood samples collected from individuals aged 12 to 79 years sampled across Canada were analyzed for 25(OH)D (n=4,398). Solar UV-B irradiance was calculated for the 15 CHMS collection sites using the Tropospheric Ultraviolet and Visible Radiation Model. Multivariable linear regression was used to evaluate the association between 25(OH)D and solar UV-B adjusted for other predictors and to explore effect modification. Results: Cumulative solar UV-B irradiance averaged over 91 days (91-day UV-B) prior to blood draw correlated significantly with 25(OH)D. Independent of other predictors, a 1 kJ/m 2 increase in 91-day UV-B was associated with a significant 0.5 nmol/L (95% CI 0.3-0.8) increase in mean 25(OH)D (P =0.0001). The relationship was stronger among younger individuals and those spending more time outdoors. Based on current projections of decreases in ground-level solar UV-B, we predict less than a 1 nmol/L decrease in mean 25(OH)D for the population. Conclusions: In Canada, cumulative exposure to ambient solar UV-B has a small but significant association with 25(OH)D concentrations. Public health messages to improve vitamin D status should target safe sun exposure with sunscreen use, and also enhanced dietary and supplemental intake and maintenance of a healthy body weight.

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In Europe, agri-environmental schemes (AES) have been introduced in response to concerns about farmland biodiversity declines. Yet, as AES have delivered variable results, a better understanding of what determines their success or failure is urgently needed. Focusing on pollinating insects, we quantitatively reviewed how environmental factors affect the effectiveness of AES. Our results suggest that the ecological contrast in floral resources created by schemes drives the response of pollinators to AES but that this response is moderated by landscape context and farmland type, with more positive responses in croplands (vs. grasslands) located in simple (vs. cleared or complex) landscapes. These findings inform us how to promote pollinators and associated pollination services in species-poor landscapes. They do not, however, present viable strategies to mitigate loss of threatened or endangered species. This indicates that the objectives and design of AES should distinguish more clearly between biodiversity conservation and delivery of ecosystem services.

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We extend recent work that included the effect of pressure forces to derive the precession rate of eccentric accretion discs in cataclysmic variables to the case of double degenerate systems. We find that the logical scaling of the pressure force in such systems results in predictions of unrealistically high primary masses. Using the prototype AM CVn as a calibrator for the magnitude of the effect, we find that there is no scaling that applies consistently to all the systems in the class. We discuss the reasons for the lack of a superhump period to mass ratio relationship analogous to that known for SU UMa systems and suggest that this is because these secondaries do not have a single valued mass-radius relationship. We highlight the unreliability of mass-ratios derived by applying the SU UMa expression to the AM CVn binaries.

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The catchment of the River Thames, the principal river system in southern England, provides the main water supply for London but is highly vulnerable to changes in climate, land use and population. The river is eutrophic with significant algal blooms with phosphorus assumed to be the primary chemical indicator of ecosystem health. In the Thames Basin, phosphorus is available from point sources such as wastewater treatment plants and from diffuse sources such as agriculture. In order to predict vulnerability to future change, the integrated catchments model for phosphorus (INCA-P) has been applied to the river basin and used to assess the cost-effectiveness of a range of mitigation and adaptation strategies. It is shown that scenarios of future climate and land-use change will exacerbate the water quality problems, but a range of mitigation measures can improve the situation. A cost-effectiveness study has been undertaken to compare the economic benefits of each mitigation measure and to assess the phosphorus reductions achieved. The most effective strategy is to reduce fertilizer use by 20% together with the treatment of effluent to a high standard. Such measures will reduce the instream phosphorus concentrations to close to the EU Water Framework Directive target for the Thames.

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As the calibration and evaluation of flood inundation models are a prerequisite for their successful application, there is a clear need to ensure that the performance measures that quantify how well models match the available observations are fit for purpose. This paper evaluates the binary pattern performance measures that are frequently used to compare flood inundation models with observations of flood extent. This evaluation considers whether these measures are able to calibrate and evaluate model predictions in a credible and consistent way, i.e. identifying the underlying model behaviour for a number of different purposes such as comparing models of floods of different magnitudes or on different catchments. Through theoretical examples, it is shown that the binary pattern measures are not consistent for floods of different sizes, such that for the same vertical error in water level, a model of a flood of large magnitude appears to perform better than a model of a smaller magnitude flood. Further, the commonly used Critical Success Index (usually referred to as F<2 >) is biased in favour of overprediction of the flood extent, and is also biased towards correctly predicting areas of the domain with smaller topographic gradients. Consequently, it is recommended that future studies consider carefully the implications of reporting conclusions using these performance measures. Additionally, future research should consider whether a more robust and consistent analysis could be achieved by using elevation comparison methods instead.

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Previously, governments have responded to the impacts of economic failures and consequently have developed more regulations to protect employees, customers, shareholders and the economic wellbeing of the state. Our research addresses how Accounting Information Systems (AIS) may act as carriers for institutionalised practices associated with maintaining regulatory compliance within the context of UK Asset Management Houses. The AIS was found to be a strong conduit for institutionalized compliance related practices, utilising symbolic systems, relational systems, routines and artefacts to carry approaches relating to regulative, normative and cultural-cognitive strands of institutionalism. Thus, AIS are integral to the development and dissipation of best practice for the management of regulatory compliance. As institutional elements are clearly present we argue that AIS and regulatory compliance provide a rich context to further institutionalism. Since AIS may act as conduits for regulatory approaches, both systems adopters and clients may benefit from actively seeking to codify and abstract best practices into AIS. However, the application of generic institutionalized approaches, which may be applied across similar organizations, must be tempered with each firm’s business environment and associated regulatory exposure. A balance should be sought between approaches specific enough to be useful but generic enough to be universally applied.

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Food safety, alongside food quality, remains a primary concern of both consumers and those along the whole food supply chain, leading to regulation by government alongside private third party certification. Much has been written about the value of these systems primarily from the perception of the consumer. This paper reports on a study that examined industry perceptions on the regulatory and assurance systems within the dairy sector of England and Wales. It found that the primary producer found value in both systems, although from a food hygiene focus regulation was seen to be more rigorous. Other stakeholders along the dairy food supply chain saw the assurance scheme as more rigorous. All stakeholders recognised the need to reduce duplication in delivering food safety through combining key elements of both systems with the added potential for better communication of both food safety and quality to the final consumer.