Firm heterogeneity and calendar anomalies

While the calendar anomalies and financial market relationship is one of the oldest relationships in financial economics, we treat this relationship differently by addressing two unknown issues: (a) Do calendar anomalies have a heterogeneous effect on firm returns and firm volatility depending on the sectoral location of firms? and (b) Do calendar anomalies affect firm returns and firm volatility differently depending on firm size? Unlike the assumption in this literature that firms are homogeneous, we show that they are in fact heterogeneous. Using 560 firms listed on the New York Stock Exchange (NYSE) over the period 5 January 2000 to 31 December 2008, we find fresh results, previously undocumented in this literature. We find evidence of calendar anomalies affecting returns and return volatility of firms differently depending on their sectoral locations and size.

Operating experiences with an advanced fabric energy storage system in Australia

Despite their proven track record in the cold climate countries of northern Europe, there are no reports in the research literature of experiences using advanced fabric energy storage (FES) systems in countries where cooling rather than heating is the main priority. This paper reports some of the experiences with the first known advanced FES system in Australia made over the first full calendar .year of operation. It is located in a three storey building on a university campus in Victoria and has been in operation since mid-2002. Temperature, energy use and operational mode data were recorded during 2003. Airflow measurements through the FES have been made in five areas of the building. On-going operating problems still exist with the system and this has prevented a conclusive evaluation of its suitability for the southern Australian climate.

David v. Goliath: the gay games, the Olympics, and the ownership of language

The Gay Games is firmly established on the contemporary global sports calendar, but is seldom canvassed in mainstream sports media, or considered a model for sports administrators. This is regrettable, as the Games’ ethos offers many clues into the relationships between individual and communal empowerment for homosexual and heterosexual participants alike, while providing a site of resistance against entrenched norms of elitism, nationalism, victory and record-breaking indicative of the modern Olympic movement. Credit for this inclusive ethos rests with the vision of inaugural Gay Games organiser Dr. Tom Waddell. Drawing on Games archives, this paper outlines Waddell’s vision, then discusses the impact of a protracted legal dispute instigated by the United States Olympic Committee in 1982 over the use of the term ‘Olympics’ in association with Gay Games I and II. Four United States Federal court rulings are examined, with particular reference to the contrasting hierarchy of private intellectual property and public civil rights considered under United States law of the time. Domestic and international legacies of the dispute are also briefly examined, focusing on the inherent tensions between the state-sanctioned protection of Olympic terminology, the ideals of free speech, the ownership of common sporting terms, and the potential discriminatory effects of selective trademark enforcement. The paper concludes with a brief discussion of how Waddell’s vision superseded each of these legal technicalities to ensure the Games continues to provide a viable model for inclusive and engaged participation for all people.

Patterns of coronary heart disease mortality over the 20th century in England and Wales : possible plateaus in the rate of decline

Background
Coronary heart disease (CHD) rates in England and Wales between 1950 and 2005 were high and reasonably steady until the mid 1970s, when they began to fall. Recent work suggests that the rate of change in some groups has begun to decrease and may be starting to plateau or even reverse.

Methods
Data for all deaths between 1931 and 2005 in England and Wales were grouped by year, sex, age at death and contemporaneous ICD code for CHD as cause of death. CHD mortality rates by calendar year and birth cohort were produced for both sexes and rates of change were examined.

Results
The pattern of increased burden of CHD mortality within older age groups has only recently emerged in men, whereas it has been established in women for far longer. CHD mortality rates among younger people showed little variation by birth cohort. For younger women (49 and under), the rate of change in CHD mortality has reversed in the last 20 years, indicating a future plateau and possible reversal of previous improvement in CHD mortality rates. Among younger men the rate of change in CHD mortality has been consistent for the past 15 years indicating that rates in this group have continued to fall steadily.

Conclusion
Although CHD mortality rates continue to drop in older age groups the actual burden of coronary heart disease is increasing due to the ageing of the population. The rate of improvement in CHD mortality appears to be beginning to decline and may even be reversing among younger women.

Heteroskin

Latext skins, with lunar gravity

Holy days after migration

In Zavoj, a mountainous village in the Republic of Macedonia, the Day of the Holy Mother is the most significant day in the village's ritual calendar. Over the last two decades the festival has been transformed due to emigration, but importantly, many Zavoj emigrants return to the village for the festival. Added to this are several other celebrations related to holy days that take place in the village. The focus of this paper will be the Mala Sveta Bogorodica (minor Holy Mother) festivity, and the sacred sites on the Old Zavoj Road. A very active church committee draws together the emigrants and produces a new type of village community and new types of social practices. Parallel to this, is the dramatic transformation of the architecture of the village. From data of recent field work, this paper will explore the emigrant gathering in Zavoj, and why the village becomes a place for the celebration of holy days after migration.

Every day's a festival!

Despite their ubiquity and cultural prominence, the academic study of arts festivals has long been neglected. The burgeoning festivals industry is, however, firmly embedded in both the arts funding and weekly calendar of European cities, and there is no doubt that festivals are fast becoming a defining feature of urban life in the twenty-first century. Understanding their nature and their potential impact is now more pressing than ever before. The contributors to this volume explore the modern urban festival and the difference it makes to the experience and management of diversity in the city. Their research reveals an unsettling coupling of the celebration of local diversity with institutional amnesia, in which the memory of a festival hardly ever outlasts its funding. This book documents a key phenomenon of our time, the supplanting of community-based remembering with the repetitive structures of events whose historic and interpretative depth is lost amid a spiraling velocity of "festivalization."