Back from beyond bid-ask spread: estimating liquidity in international markets

Research on the topic of liquidity has greatly benefited from the improved availability of data. Researchers have addressed questions regarding the factors that influence bid-ask spreads and the relationship between spreads and risk, return and liquidity. Intra-day data have been used to measure the effective spread and researchers have been able to refine the concepts of liquidity to include the price impact of transactions on a trade-by-trade analysis. The growth in the creation of tax-transparent securities has greatly enhanced the visibility of securitized real estate, and has naturally led to the question of whether the increased visibility of real estate has caused market liquidity to change. Although the growth in the public market for securitized real estate has occurred in international markets, it has not been accompanied by universal publication of transaction data. Therefore this paper develops an aggregate daily data-based test for liquidity and applies the test to US data in order to check for consistency with the results of prior intra-day analysis. If the two approaches produce similar results, we can apply the same technique to markets in which less detailed data are available and offer conclusions on the liquidity of a wider set of markets.

Gravity well visibility in haptic interfaces for motion-impaired

Haptic computer interfaces provide users with feedback through the sense of touch, thereby allowing users to feel a graphical user interface. Force feedback gravity wells, i.e. attractive basins that can pull the cursor toward a target, are one type of haptic effect that have been shown to provide improvements in "point and click" tasks. For motion-impaired users, gravity wells could improve times by as much as 50%. It has been reported that the presentation of information to multiple sensory modalities, e.g. haptics and vision, can provide performance benefits. However, previous studies investigating the use of force feedback gravity wells have generally not provided visual representations of the haptic effect. Where force fields extend beyond clickable targets, the addition of visual cues may affect performance. This paper investigates how the performance of motion-impaired computer users is affected by having visual representations of force feedback gravity wells presented on-screen. Results indicate that the visual representation does not affect times and errors in a "point and click" task involving multiple targets.

Amnesty international's language strategy put into practice: a case study of the translation of press releases

This paper investigates the language strategy and translation policies of Amnesty International by discussing the translation of a press release from a textual as well as an institutional point of view. Combining textual analysis with ethnographic methods of data collection and ideas from organisation studies, the paper aims to illustrate how the strategic use of language and translation play a vital role in mediating the NGO’s message and in contributing to its visibility and success. The findings of the textual analysis are contextualised within data collected at the local office of Amnesty International Vlaanderen to come to a better understanding of why particular translation strategies are being applied. The idea of an NGO spreading one consistent message is questioned by showing how different translation strategies apply to different languages and sections, thereby addressing the difficulty of defining translation in the context of news translation.