Tests of non-linearity using LIFFE futures transactions price data

This paper presents and implements a number of tests for non-linear dependence and a test for chaos using transactions prices on three LIFFE futures contracts: the Short Sterling interest rate contract, the Long Gilt government bond contract, and the FTSE 100 stock index futures contract. While previous studies of high frequency futures market data use only those transactions which involve a price change, we use all of the transaction prices on these contracts whether they involve a price change or not. Our results indicate irrefutable evidence of non-linearity in two of the three contracts, although we find no evidence of a chaotic process in any of the series. We are also able to provide some indications of the effect of the duration of the trading day on the degree of non-linearity of the underlying contract. The trading day for the Long Gilt contract was extended in August 1994, and prior to this date there is no evidence of any structure in the return series. However, after the extension of the trading day we do find evidence of a non-linear return structure.

Staging the Sherleys' Travails

The remarkable Sherley brothers and their maverick diplomacy evidently appealed to early seventeenth-century readers, and dramatists recognised the theatrical potential their adventures offered. Scholars have been drawn to The Travailes of the Three English Brothers for its depiction of encounters with 'others', as a portrait of early modern England's ambitions beyond its shores. This article examines how, rather than serving as propaganda, as Thomas Sherley must have hoped, the theatrical treatment exposed the brothers to a sustained critique, deploying irony to undercut the heroic motives to which they laid claim and revealing the ideological fault lines at the heart of their enterprise.

Cost function for sub-agent elements in multi-agent energy management system

Distributed generation plays a key role in reducing CO2 emissions and losses in transmission of power. However, due to the nature of renewable resources, distributed generation requires suitable control strategies to assure reliability and optimality for the grid. Multi-agent systems are perfect candidates for providing distributed control of distributed generation stations as well as providing reliability and flexibility for the grid integration. The proposed multi-agent energy management system consists of single-type agents who control one or more gird entities, which are represented as generic sub-agent elements. The agent applies one control algorithm across all elements and uses a cost function to evaluate the suitability of the element as a supplier. The behavior set by the agent's user defines which parameters of an element have greater weight in the cost function, which allows the user to specify the preference on suppliers dynamically. This study shows the ability of the multi-agent energy management system to select suppliers according to the selection behavior given by the user. The optimality of the supplier for the required demand is ensured by the cost function based on the parameters of the element.

Poetry of social conscience, poetry of transition: Ann Hawkshaw's 'Introductory Stanzas' and 'The Mother to her Starving Child'

Through close readings of Ann Hawkshaw's poetry in the context of industrial Manchester in the 1840s, this article highlights the interaction of form and content in poetry that makes use of the idea of the past to question or complicate the politics of the present.

Meta-morphs: – being a mediator of the ‘thin’ place and ‘thin’ experience in the HE classroom. A paper on the experience of creating transformations in HE teaching and learning

The research which underpins this paper began as a doctoral project exploring archaic beliefs concerning Otherworlds and Thin Places in two particular landscapes - the West Coast of Wales and the West Coast of Ireland. A Thin Place is an ancient Celtic Christian term used to describe a marginal, liminal realm, beyond everyday human experience and perception, where mortals could pass into the Otherworld more readily, or make contact with those in the Otherworld more willingly. To encounter a Thin Place in ancient folklore was significant because it engendered a state of alertness, an awakening to what the theologian John O’ Donohue (2004: 49) called “the primal affection.” These complex notions and terms will be further explored in this paper in relation to Education. Thin Teaching is a pedagogical approach which offers students the space to ruminate on the possibility that their existence can be more and can mean more than the categories they believed they belonged to or felt they should inhabit. Central to the argument then, is that certain places and their inhabitants can become revitalised by sensitively considered teaching methodologies. This raises interesting questions about the role spirituality plays in teaching practice as a tool for healing in the twenty first century.

A study of corporate social responsibility disclosure practices in Saudi Arabia

This paper analyses changes in corporate social responsibility (CSR) reporting practices among Saudi listed companies in the past three years. Using content analysis methodology of annual reports, a sample of 174 annual reports representing 58 Saudi listed companies from different sectors were analysed to investigate the extent of the level of CSR disclosure in the years 2010 to 2012. Our paper focuses on trends of CSR information in the four categories: Environment; Employee; Community and Customer. In developing countries, the CSR disclosure studies are limited and in the case of Saudi Arabia. Overall a significant increase in CSR reporting was observed over that period despite the fact that private-sector companies are still in the early stages of awareness as far as integrating CSR activities into their corporate policies and strategies is concerned.

Girls talk: authorship and authenticity in the reception of Lena Dunham's Girls

By examining the discourse around Lena Dunham's HBO comedy Girls (2012– present), this article argues that the programme served as a space to think through female authorship, televisual representations and cultural tensions surrounding young womanhood. Central to this discourse was the narrative asserting Girls' and Dunham's 'authenticity', originality and universality, which sought to legitimate her gendered authorship and interest in the comedy of female intimacy within HBO' s masculine prestige channel identity. Charting three cycles of discourse surrounding the programme's debut, this article explores the paratextual framing by promotional concerns, television critics and women' s websites. It highlights how journalists and critics furthered HBO's paratextual framing of Dunham, which was later countered by the networked spaces of niche online media, which used the programme as a space to productively work through industrial and cultural tensions; particularly those surrounding female comic authorship, autobiography and intersectionality.

Accounting as interpretive framing

The study furthers our understanding of the persuasive and constructive aspects of accounting information. We consider it as a process of ‘interpretive framing’ in the quest for legitimacy - an attempt to justify decisions and excuse mistakes. We base our theoretical discussion on the premise that the picture reported by accounting information is an example of institutional reality and thus mediated by the social contexts in which it is constructed and interpreted. Accounting information is a matter of ‘the interpretation of interpretations’ - the provision of accounting information, which is already a result of a competitive interplay among prior interpretations of certain aspects of our economic phenomena, undergoes further interpretation by the recipients of that information. This notion applies equally to narratives and numbers. We challenge notions of rigor, accuracy and objectivity assigned to quantification in accounting and posit that numbers can be an even more powerful rhetorical device due to their image of being rational and ‘rhetoric free’. We illustrate our theoretical propositions presenting explicit references to the constructive and rhetorical aspects of financial reporting from Pacioli and his times (late 15th century) to the recent regulatory developments of FASB/IASB in 2013, i.e. from the rhetoric of double entry book-keeping to the rhetoric of 'fair value’. We acknowledge, building on these theoretical foundations, the inherent subjectivity of accounting information (influenced by perceptions and interests) without entirely denying however its informative functions. We illustrate the practical implications of this, in a situation where “shared and socially accepted” perceptions may be the nearest we can get to anything resembling a faithful representation of economic reality. The paper contributes to a broader understanding of how accounting information can be viewed as a social and humanistic construction, and challenges taken-for-granted assumptions about impartiality, neutrality and rationality in regard to the process.

'The house of books': libraries and archives in Ancient Egypt

In 1957, John Sperry Jr. published an article in Libri entitled “Egyptian libraries: a survey of the evidence.” Some 55 years on, this article revisits the subject, taking into account research undertaken in the field of Egyptology over the last half a century. Based on an extended essay written for the online Certificate in Egyptology course at the University of Manchester, this article considers the evidence for the existence of “institutional” (that is, created for the use and functioning of the state) libraries and archives in Ancient Egypt throughout the dynastic period (c.3500−30 B.C.); their history, purpose and, to some extent, their administration. It also considers an aspect not explored in Sperry’s article, that of “private” libraries in Ancient Egypt (texts collected by an individual for their own personal use). Whilst estimated literacy levels within the general population precluded the widespread collection of texts for personal edification, there is evidence to suggest that private libraries were present in Ancient Egypt. The article concludes with a brief assessment of the legacy of these ancient libraries and their influence on the creation of the Library of Alexandria, in both its ancient and modern manifestations.

Seminar: access all areas

Sensory Objects presented their research and their Sensory Labels for the British Museum at a seminar called Access All Areas organised by the Visitor Users Group.