An empirical investigation of the UK stock market response to the implementation of SSAP 20

This study presents an empirical investigation of the UK stock market response to the im-plementation of the UK Statement of Standard Accounting Practice (SSAP) No. 20 “Foreign Cur-rency Translation” (issued in April 1983). Such an empirical investigation has not yet been under-taken for the UK. Our results show that the stock market generally appeared to have anticipatedthe implementation of SSAP 20. For the aggregate set of adopters, we found a positive stock mar-ket response in the official year of adoption, reflecting the appreciation of the income-stabilisingeffects of the standard. This paper also presents a cross-sectional analysis that tests for a relation-ship between the stock returns and the accounting measures of those firms that adopted SSAP 20.We found a significant relation between the stock returns and the related accounting measures inthe actual adoption period of the aggregate set of adopters. This study generally focuses on theinterpretation of the financial impacts of the various accounting choices of firms within their fi-nancial and economic environments.

A weakly-supervised Bayesian model for violence detection from social media

Social streams have proven to be the mostup-to-date and inclusive information on cur-rent events. In this paper we propose a novelprobabilistic modelling framework, called violence detection model (VDM), which enables the identification of text containing violent content and extraction of violence-related topics over social media data. The proposed VDM model does not require any labeled corpora for training, instead, it only needs the in-corporation of word prior knowledge which captures whether a word indicates violence or not. We propose a novel approach of deriving word prior knowledge using the relative entropy measurement of words based on the in-tuition that low entropy words are indicative of semantically coherent topics and therefore more informative, while high entropy words indicates words whose usage is more topical diverse and therefore less informative. Our proposed VDM model has been evaluated on the TREC Microblog 2011 dataset to identify topics related to violence. Experimental results show that deriving word priors using our proposed relative entropy method is more effective than the widely-used information gain method. Moreover, VDM gives higher violence classification results and produces more coherent violence-related topics compared toa few competitive baselines.

Le groupe du Fer de Lance mélanésien face à ses défis

Cet article examine la complexité du processus d’intégration régionale en Océanie à travers le cas du groupe du Fer de Lance mélanésien (gflm). L’émergence de cette structure subrégionale en 1988 avait pour but d’affirmer la spécificité mélanésienne au cœur du Pacifique Sud. Or, en vingt-cinq années d’existence, le Fer de Lance ne semble pas avoir pleinement réalisé tous les objectifs qu’il s’était initialement fixés. Ses ambitions, politiques en particulier, ne sont qu’en partie réalisées. Quant à la récente présidence fidjienne du Fer de Lance, elle a tenté de donner une nouvelle stature régionale au groupe, mais y est-elle parvenue ? Cet article analyse les défis politiques, intérieurs et extérieurs, que le gflm rencontre depuis sa création et considère ceux qui lui restent à relever. This paper examines the complexities of regional integration in Oceania through the case study of the Melanesian Spearhead Group (MSG). The emergence of a new subregional structure in 1988 aimed to support the development of the Melanesian identity within the South Pacific. However, after twenty-five years of existence, the Spearhead Group does not seem to have reached all its initial objectives. Its political ambition has only partly been achieved. The recent Fijian leadership of the MSG has attempted to give a new regional dimension to the Melanesian group, but has it succeeded? This paper analyses how the subregional group has faced the challenges that emerged from its regional environment as well as from within its own structure. It fnally considers the new challenges ahead for the Melanesian group.