A flexible cost function model with risk

In examining bank cost efficiency in banking inclusion of risk-taking of banks is very important. In this paper we depart from the standard modeling approach and view risk intimately related to the technology. Thus, instead of controlling for risk by viewing them as covariates in the standard cost function we argue that the technology differs with risk, thereby meaning that the parameters of the parametric cost function changes with risk in a fully flexible manner. This is accomplished by viewing the parameters of the cost function as nonparametric functions of risk. We also control for country-specific effects in a fully flexible manner by using them as arguments of the nonparametric functions along with the risk variable. The resulting cost function then becomes semiparametric. The standard parametric model becomes a special case of our semiparametric model. We use the above modeling approach for banks in the EU countries. Actually, European financial integration is seen as a stepping stone for the development of a competitive single EU market that promotes efficiency and increases consumer welfare, changing the risk profile of the European banks. Particularly, financial integration allows more risk diversification and permits banks to use more advanced risk management instruments and systems, however it has at the same time increased the probability of systematic risks. Financial integration has increased the risk of contagion and changed its nature and scope. Consequently the bank’s risk seems to be an important issue to be investigated.

Special issue of PDS - Based on PDDG meeting, Aston University, September 2007, in honour of Professor Norman Billingham

This edition of Polymer Degradation and Stability comprises selected papers presented at the 27th Polymer Degradation Discussion Group (PDDG) Conference, affiliated to the Macromolecular Group of the Royal Society of Chemistry, held at Aston University, Birmingham (UK), September 2007, in honour of Professor Norman Billingham for lifelong career in Polymer Science. Norman Billingham was one of the main founders of the PDDG meetings which have been held annually at different venues in the UK since 1976, and biennially since 1998. The PDDG meetings are forums for scientific developments and open discussion of all aspects of polymer degradation and stabilisation and have always provided younger researchers a platform for presenting and discussing their work in the field. This 27th PDDG meeting, chaired by Sahar Al-Malaika (Aston University), was dedicated to Norman Billingham, the Guest of Honour, in recognition for his distinguished contributions to Polymer Science particularly in the area of polymer degradation and stabilisation. The meeting was attended by 65 delegates from 15 countries in Europe, USA and Australia, many of whom have worked and collaborated with Norman at some points of their career. The guest editors of this issue wish to add their Congratulations to Norman Billingham for his outstanding contributions and achievements in the field of polymer degradation and stabilisation and to wish him very happy years ahead. We wish also to express our gratitude to Elsevier for sponsoring the 27th PDDG event and our appreciation to Professor Norman Billingham in his capacity as the Editor-in-Chief of Polymer Degradation and Stability, for the support and help received during the preparation of this special issue.

Peer mentoring in Higher Education:a reciprocal route to student success

This paper provides an introduction to the findings of a large HEFCE/Paul Hamlyn-sponsored project, which aimed to investigate and analyse the value of peer mentoring in facilitating a successful transition into higher education.

Peer mentoring works! Institutional manual

Institutional guidance and recommendations pertaining to peer mentoring

Promoting scholarship - the way forward:learning and teaching research in a complex environment – a typology

Scholarship in learning and teaching.

Critical writing in higher education:an empirical strategy

A critical discussion of the issues around academic writing

Peer mentoring in higher education:a literature review

A review of the literature in the area of peer mentoring.

Conflicting pressures and seductive contradictions:women’s participation and progress in management

Organisations operating in the West Midlands region of the UK. Based on over fifty interviews, the key themes to emerge from this research centre upon some of the factors that draw women into management (which we term seductive elements) as well as some of the hindering practices that prevent women from progressing. Significantly, managerial careers are associated with gendered assumptions and practices (e.g. facilitating and developing people) which might contribute to construct management (as done by women) as focused on feminine aspects. However, in terms of the lived reality of doing management, such women experience contradictions and conflicting pressures.

Design and validity of a miniaturized open-field aberrometer

PURPOSE: To validate a new miniaturised, open-field wavefront device which has been developed with the capacity to be attached to an ophthalmic surgical microscope or slit-lamp. SETTING: Solihull Hospital and Aston University, Birmingham, UK DESIGN: Comparative non-interventional study. METHODS: The dynamic range of the Aston Aberrometer was assessed using a calibrated model eye. The validity of the Aston Aberrometer was compared to a conventional desk mounted Shack-Hartmann aberrometer (Topcon KR1W) by measuring the refractive error and higher order aberrations of 75 dilated eyes with both instruments in random order. The Aston Aberrometer measurements were repeated five times to assess intra-session repeatability. Data was converted to vector form for analysis. RESULTS: The Aston Aberrometer had a large dynamic range of at least +21.0 D to -25.0 D. It gave similar measurements to a conventional aberrometer for mean spherical equivalent (mean difference ± 95% confidence interval: 0.02 ± 0.49D; correlation: r=0.995, p<0.001), astigmatic components (J0: 0.02 ± 0.15D; r=0.977, p<0.001; J45: 0.03 ± 0.28; r=0.666, p<0.001) and higher order aberrations RMS (0.02 ± 0.20D; r=0.620, p<0.001). Intraclass correlation coefficient assessments of intra-sessional repeatability for the Aston Aberrometer were excellent (spherical equivalent =1.000, p<0.001; astigmatic components J0 =0.998, p<0.001, J45=0.980, p<0.01; higher order aberrations RMS =0.961, p<0.001). CONCLUSIONS: The Aston Aberrometer gives valid and repeatable measures of refractive error and higher order aberrations over a large range. As it is able to measure continuously, it can provide direct feedback to surgeons during intraocular lens implantations and corneal surgery as to the optical status of the visual system.

Is there still value in strategic group research?

This paper offers a selected review of strategic group theory and seeks to explore the benefits and limitations of modern strategic group analysis within the context of the Pharmaceutical Industry. The rise and fall of strategic group research is reviewed and some suggestions advanced as to the reasons why strategic group research has often produced conflicting results, particularly with regard to the link between group membership and performance. The review concludes that strategic group research continues to offer a valuable way to classify firms by their strategy and provides some suggestions as to how future studies may avoid the pitfalls exposed by previous research.