Motion Bank : Phase One

 Motion Bank Phase One (2010-2013) was a four-year international and interdisciplinary research project of The Forsythe Company providing a broad context for research into choreographic practice. The main focus was on the creation of on-line digital scores in collaboration with guest choreographers, to be made publicly available via this website. For Phase One, the guest choreographers were Deborah Hay, Jonathan Burrows & Matteo Fargion, Bebe Miller and Thomas Hauert. Teams from the Motion Bank Score Partners worked with these artists to make their diverse choreographic approaches accessible in new ways through the digital medium with the results published here: http://scores.motionbank.org/. Alongside this core research, Motion Bank Education Partners and an International Education Workgroup researched ways to integrate the new on-line digital scores and related choreographic resources produced by other artists into their academic programs. Accompanying the Motion Bank education research was an interdisciplinary initiative titled Dance Engaging Science aiming to stimulate new forms of collaborative research involving dance practice. Motion Bank public events offered at The Frankfurt Lab included performances and talks with the guest choreographers as well as a series of Motion Bank Workshops with internationally recognized practitioners from different fields. An extensive series of reports and documentation on all Motion Bank activities and results are available on-line at http://motionbank.org.

Motion Bank Score Partners:
- Advanced Computing Center for the Arts and Design and Department of Dance at The Ohio State University
- Fraunhofer Institute for Computer Graphics Research IGD
- Hochschule Darmstadt - University of applied sciences
- Hochschule für Gestaltung (HFG) Offenbach.

Motion Bank Education Partners:
- Frankfurt University of Music and Performing Arts
- Palucca Hochschule für Tanz Dresden

CEO tenure and other determinants of bank performance in Nigeria

 In 2010, the Central Bank of Nigeria announced a tenure limit policy for bank CEOs in Nigeria. Designed to evaluate this policy, this thesis found that a longer CEO tenure is actually associated with superior bank performance in Nigeria. It has therefore provided solid research evidence on the debatable policy.

Three essays on stock returns and inflation - Australian evidence

Results of this thesis suggest that a significant negative relation between stock returns and inflation identified in Australia during ‘inflation targeting’ is mainly due to an incidence of ‘flight to safety’. Furthermore, the impact of inflation news on stock returns is industry-sector dependent. Specifically, in Australia rising inflation seems to be good news for Financials, but bad news for Materials.

Does cash flow predict returns?

In this paper, we propose the hypothesis that cash flow and cash flow volatility predict returns. We categorize firms listed on the New York Stock Exchange into sectors, and apply tests for both in-sample and out-of-sample predictability. While we find strong evidence that cash flow volatility predicts returns for all sectors, the evidence obtained when using cash flow as a predictor is relatively weak. Estimated profits and utility gains also suggest that it is cash flow volatility that is more relevant as a source of information than cash flow.

Customer-owned banking in Australia: from credit union to mutual bank

Since the 1990s financial sector regulation in Australia has treated credit unions and building societies the same as banks under the designated title of authorized depository institutions. This allows credit unions to choose between different organizational structures: cooperative; convert to customer-owned banks or to demutualize. This article utilizes semi-structured interviews to analyse the key motivations for organizational change. It examines a number of credit unions and their conversion experience to customer-owned banks. It finds that adaptation of the credit union model was necessary to change customer perceptions, ensure future growth in the customer base and assets, and facilitate access to capital raisings with the credit rating of a bank. Despite this change customer-owned banks retain the core principals of mutuality.

Has oil price predicted stock returns for over a century?

This paper contributes to the debate on the role of oil prices in predicting stock returns. The novelty of the paper is that it considers monthly time-series historical data that span over 150. years (1859:10-2013:12) and applies a predictive regression model that accommodates three salient features of the data, namely, a persistent and endogenous oil price, and model heteroscedasticity. Three key findings are unraveled: first, oil price predicts US stock returns. Second, in-sample evidence is corroborated by out-sample evidence of predictability. Third, both positive and negative oil price changes are important predictors of US stock returns, with negative changes relatively more important. Our results are robust to the use of different estimators and choice of in-sample periods.