A battle of elephants: (I)legitimate ethical voices?

In this paper, we aim to distil myriad stakeholder voices through a Foucaudian theoretical apparatus in the establishment of ethical stakeholder voices amidst a takeover of a Ghanaian National Bank with ownership control by the state National Pension Fund and Insurance Company. Resonating with Foucault’s position that, the prove and an actual practice of ethical principles despite risk is non-existent within a democracy, this paper reveals how stakeholders in a takeover further their own interest to the neglect of the very germane societal expectation of a salient stakeholder role. We further fill an existing gap within the stakeholder literature that posit of stakeholders as always possessing the right and ethical voices. We conclude that, despite Foucault’s last lecture of The Courage of Truth: The Government of the Self and others having proven of a robust apparatus in distilling ethical voices from non-ethical within the realm of a democratic field, its idealist nature demands a counterfactual position.

L’illustration marginale d’un ouvrage profane : étude du manuscrit Paris, Bibliothèque nationale de France, français 95, xiiie siècle (1290)

BnF fr. 95 is a late 13th century manuscript containing Arthurian romances and other fictional and didactic texts. The Estoire del saint Graal and Merlin section is the most highly illuminated, with a rich marginal iconography, an unusual feature in the illustration of lay works and in these texts’ manuscript tradition. This article shows how in Merlin and its Vulgate Sequel marginal scenes overlap with widespread subjects in courtly and chivalric vernacular romances, in contrast with Latin and religious works. The reuse of similar patterns in principal and marginal miniatures, examined in the episode of the Battle of Danablaise, where King Arthur fights the Saxon King Rion, highlights the need for a comprehensive reading of text and images, taking into account the mise en page and the different levels of illustration in the manuscript.

Searching for the perfect surface area normalizing term - a comparison of BET surface area-, geometric surface area- and mass-normalized dissolution rates of anorthite and biotite

Dissolution rates were calculated for a range of grain sizes of anorthite and biotite dissolved under far from equilibrium conditions at pH 3, T = 20 degrees C. Dissolution rates were normalized to initial and final BET surface area, geometric surface area, mass and (for biotite only) geometric edge surface area. Constant (within error) dissolution rates were only obtained by normalizing to initial BET surface area for biotite. The normalizing term that gave the smallest variation about the mean for anorthite was initial BET surface area. In field studies, only current (final) surface area is measurable. In this study, final geometric surface area gave the smallest variation for anorthite dissolution rates and final geometric edge surface area for biotite dissolution rates. (c) 2005 Published by Elsevier B.V.

International evidence on the predictability of returns to securitized real estate assets: econometric models versus neural networks

The performance of various statistical models and commonly used financial indicators for forecasting securitised real estate returns are examined for five European countries: the UK, Belgium, the Netherlands, France and Italy. Within a VAR framework, it is demonstrated that the gilt-equity yield ratio is in most cases a better predictor of securitized returns than the term structure or the dividend yield. In particular, investors should consider in their real estate return models the predictability of the gilt-equity yield ratio in Belgium, the Netherlands and France, and the term structure of interest rates in France. Predictions obtained from the VAR and univariate time-series models are compared with the predictions of an artificial neural network model. It is found that, whilst no single model is universally superior across all series, accuracy measures and horizons considered, the neural network model is generally able to offer the most accurate predictions for 1-month horizons. For quarterly and half-yearly forecasts, the random walk with a drift is the most successful for the UK, Belgian and Dutch returns and the neural network for French and Italian returns. Although this study underscores market context and forecast horizon as parameters relevant to the choice of the forecast model, it strongly indicates that analysts should exploit the potential of neural networks and assess more fully their forecast performance against more traditional models.

Facebook & BlackBoard: comparative view of learning environments

For several years, online educational tools such as Blackboard have been used by Universities to foster collaborative learning in an online setting. Such tools tend to be implemented in a top-down fashion, with the institution providing the tool to the students and instructing them to use it. Recently, however, a more informal, bottom up approach is increasingly being employed by the students themselves in the form of social networks such as Facebook. With over 9,000 registered Facebook users at the beginning of this study, rising to over 12,000 at the University of Reading alone, Facebook is becoming the de facto social network of choice for higher education students in the UK, and there was increasing anecdotal evidence that students were actively learning via Facebook rather than through BlackBoard. To test the validity of these anecdotes, a questionnaire was sent to students, asking them about their learning experiences via BlackBoard and Facebook. The results show that students are making use of the tools available to them even when there is no formal academic content, and that increased use of a social networking tool is correlated with a reported increase in learning as a result of that use.

Training to address attitudes and behaviour of rural bank managers in Madhya Pradesh, India: A programme to facilitate financial inclusion

Given their physical presence in India, banks are arguably well-placed to improve financial inclusion in rural areas. However, uncertain repayment capacities and high transaction costs mean formal financial institutions are often reluctant to lend to the rural poor. Conversely, high transaction costs in dealing with banks are also incurred by clients, through, for example, lengthy, cumbersome and potentially ignominious procedures. Negative attitudes towards poor clients can be an important component of such transaction costs. An applied research project funded by the Enterprise Development Innovation Fund (EDIF-DFID) developed an innovative training programme designed to encourage more positive attitudes of bank staff towards poor clients, and towards their own role in rural poverty alleviation and development. This paper examines the development of the training programme, its implementation, and the results of its evaluation. It is shown that training can bring about attitudinal change, which in turn is reflected in behaviour and social impact.

Bromelain as an adjunctive treatment for moderate-to-severe osteoarthritis of the knee: a randomized placebo-controlled pilot study

Background: Osteoarthritis (OA) of the knee is the most prevalent joint disorder. Previous studies suggest that bromelain, a pineapple extract, may be a safer alternative/adjunctive treatment for knee OA than current conventional treatment. Aim: To assess the efficacy of bromelain in treating OA of the knee. Design: Randomized, double-blind placebo-controlled trial. Methods: Subjects (n=47) with a confirmed diagnosis of moderate to severe knee OA were randomized to 12 weeks of bromelain 800 mg/day or placebo, with a 4-week follow-up. Knee (pain, stiffness and function) and quality-of-life symptoms were reported monthly in the WOMAC and SF36 questionnaires, respectively. Adverse events were also recorded. The primary outcome measure was the change in total WOMAC score from baseline to the end of treatment at week 12. Longitudinal models were used to evaluate outcome. Results: Thirty-one patients completed the trial (14 bromelain, 17 placebo). No statistically significant differences were observed between groups for the primary outcome (coefficient 11.16, p=0.27, 95%CI-8.86 to 31.18), nor the WOMAC subscales or SF36. Both treatment groups showed clinically relevant improvement in the WOMAC disability subscale only. Adverse events were generally mild in nature. Discussion: This study suggests that bromelain is not efficacious as an adjunctive treatment of moderate to severe OA, but its limitations support the need for a follow-up study.

The tendering process and performance analysis of a public building project in Ghana

A case study on the tendering process and cost/time performance of a public building project in Ghana is conducted. Competitive bids submitted by five contractors for the project, in which contractors were required to prepare their own quantities, were analyzed to compare differences in their pricing levels and risk/requirement perceptions. Queries sent to the consultants at the tender stage were also analyzed to identify the significant areas of concern to contractors in relation to the tender documentation. The five bidding prices were significantly different. The queries submitted for clarifications were significantly different, although a few were similar. Using a before-and-after experiment, the expected cost/time estimate at the start of the project was compared to the actual cost/time values, i.e. what happened in the actual construction phase. The analysis showed that the project exceeded its expected cost by 18% and its planned time by 210%. Variations and inadequate design were the major reasons. Following an exploration of these issues, an alternative tendering mechanism is recommended to clients. A shift away from the conventional approach of awarding work based on price, and serious consideration of alternative procurement routes can help clients in Ghana obtain better value for money on their projects.

Permanent trading impacts and bond yields

We analyze four years of transaction data for euro-area sovereign bonds traded on the MTS electronic platforms. In order to measure the informational content of trading activity, we estimate the permanent price response to trades. We find not only strong evidence of information asymmetry in sovereign bond markets, but we also show the relevance of information asymmetry in explaining the cross-sectional variations of bond yields across a wide range of bond maturities and countries. Our results confirm that trades of more recently issued bonds and longer maturity bonds have a greater permanent effect on prices. We compare the price impact of trades for bonds across different maturity categories and find that trades of French and German bonds have the highest long-term price impact in the short maturity class whereas trades of German bonds have the highest permanent price impacts in the long maturity class. More importantly, we study the cross-section of bond yields and find that after controlling for conventional factors, investors demand higher yields for bonds with larger permanent trading impact. Interestingly, when investors face increased market uncertainty, they require even higher compensation for information asymmetry.

Manipulation and articulation: population statistics in 19th century France and England

The article presents an essay that deals with the study conducted by Donald MacKenzie and the case studies comparing the use of population statistics in France and Great Britain in the periods of 1825 and 1885. It analyzes Donald MacKenzie's study on the ways professional and political commitments informed the choice of statistical indexes in the British statistical community. Furthermore, the author is interested in knowing how this influenced the development of mathematical statistics in Great Britain. The author concludes that the differences in the debates over population statistics are accounted to the differences in the social and epistemological logics of population statistics.