Merging and ranking answers in the semantic web:the wisdom of crowds

In this paper we propose algorithms for combining and ranking answers from distributed heterogeneous data sources in the context of a multi-ontology Question Answering task. Our proposal includes a merging algorithm that aggregates, combines and filters ontology-based search results and three different ranking algorithms that sort the final answers according to different criteria such as popularity, confidence and semantic interpretation of results. An experimental evaluation on a large scale corpus indicates improvements in the quality of the search results with respect to a scenario where the merging and ranking algorithms were not applied. These collective methods for merging and ranking allow to answer questions that are distributed across ontologies, while at the same time, they can filter irrelevant answers, fuse similar answers together, and elicit the most accurate answer(s) to a question.

The role of wisdom in organisational leadership

This thesis begins with a review of the literature on wisdom models, theories of wise leadership, and existing wisdom measures. It continues with a review of how the concept of wisdom may add value to existing leadership models, highlighting the need to empirically identify the characteristics of wise leaders and develop a wise leadership measure. A nomological framework for wise leadership is then presented. Based on a review of the wisdom and leadership paradigms, a mixed-methods research design is described for three studies to define the characteristics of wise leadership in organisations; identify specific leadership challenges that might require wise responses; and to develop the wise leadership measure comprising of vignettes. The first study involves critical incident interviews with 26 nominated wise leaders and 23 of their nominators, which led to the identification of nine wise leadership dimensions which include Strong Ethical Code, Strong Judgement, Optimising Positive Outcomes, Managing Uncertainty, Strong Legacy, Leading with Purpose, Humanity, Humility, and Self-Awareness. The second study includes critical incident interviews with 20 leaders about organisational challenges associated with the nine dimensions, to elucidate the wise leadership measure. The third study includes the design of 45 vignettes based on organisational challenges that measure the nine wise leadership dimensions. The measure is then administered to 250 organisational leaders to establish its construct validity, leading to the selection of 18 vignettes forming the final wise leadership measure. Theoretical, methodological and practical implications of this research are then discussed with recommendations for future research.

Quelqu'un n'est pas venu

Received wisdom has it that positive polarity items such as someone are incompatible with negation (?*Someone didn't come). Yet negative contexts are attested with such items not only in their specific indefinite reading (e.g. There's someone who didn't come), but also in their non-specific reading (It isn't the case that someone came). It is the non-specific reading of indefinite quelqu'un as subject of a negative verb phrase which is analysed by the present paper. On the basis of a corpus of attested cases, it demonstrates that polemic contrast is the crucial condition of the considered interpretation. As quelqu'un is included within a presupposed proposition that is rejected as a whole by negation, negative contexts can accommodate an item which does not normally yield the interpretations negation does. Interpretation is thus presented as process of mutual adjustment between contextual readings allowed for by items, readings which can be modalised by discursive values.

How does ownership structure affect capital structure and firm value?:Recent evidence from East Asia

The present paper examines the effects of ownership structures on capital structure and firm valuation. It argues that the effects of separation of control from cash flow rights on capital structure and firm value also depend on the separation of control from management as well as on legal rules and enforcement defining investors' protection. We obtain firm-level panel data (three stage least squares, 3SLS) estimates from four of the East Asian countries worst affected by the last crisis. There is evidence that the general wisdom that higher control than cash flow rights may lower firm value may be reversed among owner-managed family firms in the sample countries. © 2007 The Authors Journal compilation © 2007 The European Bank for Reconstruction and Development.

A strategy-as-practice approach to strategy research and education

This conclusion to the Dialog proposes a strategy-as-practice based approach to bringing strategy research and education closer to practice. Strategy-as-practice rejects the choice, proposed in the previous articles, between theory and practice. The authors argue for strategy research based rigorously on sociological theories of practice. Such research complements the parsimony and generalizability of economics-driven theory, extending strategy research to incorporate the messy realities of doing strategy in practice, with a view to developing theory that is high in accuracy. The authors suggest that practice-based research can also inform strategy teaching by providing students with rich case studies of strategy work as actually practiced, analyzed through such sociological lenses as ethnomethodology, dramaturgy, and institutional theory. Strategy-as-practice research does not aim to give students parsimonious models for analysis or expose them to cases of best practice but rather to help them develop practical wisdom through a better understanding of strategy in practice.

The valuation of travel time savings in least developed countries:theoretical and empirical challenges and results from a field study

In developed countries travel time savings can account for as much as 80% of the overall benefits arising from transport infrastructure and service improvements. In developing countries they are generally ignored in transport project appraisals, notwithstanding their importance. One of the reasons for ignoring these benefits in the developing countries is that there is insufficient empirical evidence to support the conventional models for valuing travel time where work patterns, particularly of the poor, are diverse and it is difficult to distinguish between work and non-work activities. The exclusion of time saving benefits may lead to a bias against investment decisions that benefit the poor and understate the poverty reduction potential of transport investments in Least Developed Countries (LDCs). This is because the poor undertake most travel and transport by walking and headloading on local roads, tracks and paths and improvements of local infrastructure and services bring large time saving benefits for them through modal shifts. The paper reports on an empirical study to develop a methodology for valuing rural travel time savings in the LDCs. Apart from identifying the theoretical and empirical issues in valuing travel time savings in the LDCs, the paper presents and discusses the results of an analysis of data from Bangladesh. Some of the study findings challenge the conventional wisdom concerning the time saving values. The Bangladesh study suggests that the western concept of dividing travel time savings into working and non-working time savings is broadly valid in the developing country context. The study validates the use of preference methods in valuing non-working time saving values. However, stated preference (SP) method is more appropriate than revealed preference (RP) method.

Society

What is the nature of our current societies? Do we see a clash of civilizations, or the end of history? The advent of globalization, or the birth of the network society? Are we witnessing the emergence of a risk society, or the advent of the knowledge society? More fundamentally, is ‘society’ an ideological construct that should be abandoned? Coming into English from the Latin term ‘societas’ via Old French ‘société’, the etymology of ‘society,’ in the sense of a system adopted by a group of co-existing individuals for mutually beneficial purposes, can be traced back at least to the mid-sixteenth century. By the Age of Enlightenment, ‘society’ was increasingly used in intellectual discourse to characterize human relations, often in contrast to notions of ‘the state’. During the nineteenth century, the concept was subject to highly elaborate treatment in various intellectual fields, such as political economy, philosophy, and legal thought; and ‘society’ continues to be a central conceptual tool, not only for sociology, but also for many other social-science disciplines, such as anthropology, economics, political sciences, and law. The notion resonates beyond the social sciences into the humanities; it is a fundamental concept, like nature, the universe, or the economy. Moreover, ‘society’ remains a highly contested concept, as was demonstrated, for example, by the controversy surrounding the former British prime minister Margaret Thatcher’s pithy assertion of the neoliberal economic wisdom that ‘there is no such thing as society’ (Woman’s Own, 31 October 1987); and by the term’s rehabilitation at the turn of the twenty-first century, not least with the ascendancy of the notion of ‘civil society’. This four-volume collection, a new title in the Routledge Critical Concepts in Sociology series, brings together both canonical and the best cutting-edge research to document the intellectual origins and development of what remains a key framework within which contemporary work in the social sciences in general, and sociology in particular, proceeds. Edited by Reiner Grundmann and Nico Stehr, two leading scholars in the field, this Routledge Major Work makes available the most useful, important and representative treatments of the subject matter, and helps to make sense of the great variety of perspectives and approaches in which social scientists and other thinkers have understood, and continue to understand, society. Fully indexed and with a comprehensive introduction newly written by the editors, which places the collected material in its historical and intellectual context, Society is an essential reference work, destined to be valued by scholars and students as a vital research resource.

Excess leverage and productivity growth in emerging economies:is there a threshold effect?

This paper studies the relationship between leverage and growth, focusing on a large sample of firms in emerging economies of central and eastern Europe (CEE). Contrary to the general wisdom, we find that deviation from optimal leverage, especially, excess leverage is common among firms in many CEE countries. Using firm-level panel data from a group of transition countries, the paper provides support to the hypothesis that leverage positively affects productivity growth but only below an endogenously determined threshold level.

Does institutional quality affect firm performance? Insights from a semiparametric approach

Using a novel modeling approach, and cross-country firm level data for the textiles industry, we examine the impact of institutional quality on firm performance. Our methodology allows us to estimate the marginal impact of institutional quality on productivity of each firm. Our results bring into question conventional wisdom about the desirable characteristics of market institutions, which is based on empirical evidence about the impact of institutional quality on the average firm. We demonstrate, for example, that once both the direct impact of a change in institutional quality on total factor productivity and the indirect impact through changes in efficiency of use of factor inputs are taken into account, an increase in labor market rigidity may have a positive impact on firm output, at least for some firms. We also demonstrate that there are significant intra-country variations in the marginal impact of institutional quality, such that the characteristics of “winners” and “losers” will have to be taken into account before policy is introduced to change institutional quality in any direction.

A Bayesian modeling approach to multi-dimensional sentiment distributions prediction

Sentiment analysis has long focused on binary classification of text as either positive or negative. There has been few work on mapping sentiments or emotions into multiple dimensions. This paper studies a Bayesian modeling approach to multi-class sentiment classification and multidimensional sentiment distributions prediction. It proposes effective mechanisms to incorporate supervised information such as labeled feature constraints and document-level sentiment distributions derived from the training data into model learning. We have evaluated our approach on the datasets collected from the confession section of the Experience Project website where people share their life experiences and personal stories. Our results show that using the latent representation of the training documents derived from our approach as features to build a maximum entropy classifier outperforms other approaches on multi-class sentiment classification. In the more difficult task of multi-dimensional sentiment distributions prediction, our approach gives superior performance compared to a few competitive baselines. © 2012 ACM.

Biases in approximating log production

Most empirical work in economic growth assumes either a Cobb–Douglas production function expressed in logs or a log-approximated constant elasticity of substitution specification. Estimates from each are likely biased due to logging the model and the latter can also suffer from approximation bias. We illustrate this with a successful replication of Masanjala and Papagerogiou (The Solow model with CES technology: nonlinearities and parameter heterogeneity, Journal of Applied Econometrics 2004; 19: 171–201) and then estimate both models in levels to avoid these biases. Our estimation in levels gives results in line with conventional wisdom.

Tacit vs. overt collusion firm asymmetries and numbers:what's the evidence?

It is conventional wisdom that collusion is more likely the fewer firms there are in a market and the more symmetric they are. This is often theoretically justified in terms of a repeated non-cooperative game. Although that model fits more easily with tacit than overt collusion, the impression sometimes given is that ‘one model fits all’. Moreover, the empirical literature offers few stylized facts on the most simple of questions—how few are few and how symmetric is symmetric? This paper attempts to fill this gap while also exploring the interface of tacit and overt collusion, albeit in an indirect way. First, it identifies the empirical model of tacit collusion that the European Commission appears to have employed in coordinated effects merger cases—apparently only fairly symmetric duopolies fit the bill. Second, it shows that, intriguingly, the same story emerges from the quite different experimental literature on tacit collusion. This offers a stark contrast with the findings for a sample of prosecuted cartels; on average, these involve six members (often more) and size asymmetries among members are often considerable. The indirect nature of this ‘evidence’ cautions against definitive conclusions; nevertheless, the contrast offers little comfort for those who believe that the same model does, more or less, fit all.

China's economic co-operation related investment:an investigation of its direction and some implications for outward investment

Chinese firms undertake large scale contracted projects in a number of countries under the auspices of economic cooperation. While there are suggestions that these activities are an extension of China's soft power aimed at facilitating Chinese foreign direct investment (FDI) in those countries, often for access to natural resources, there is no systematic analysis of this in the literature. In this paper, we examine China's economic cooperation related investment (ECI) over time. Our results suggest that the pattern of investment is indeed explained well by factors that are used in the stylised literature to explain directional patterns of outward FDI. They also demonstrate that the (positive) relationship between Chinese ECI and the recipient countries' natural resource richness is not economically meaningful. Finally, while there is some support for the popular wisdom that China is willing to do business with countries with weak political rights, the evidence suggests that, ceteris paribus, its ECI is more likely to flow to countries with low corruption levels and, by extension, better institutions.

Selection of simulation tools for improving supply chain performance

Simulation is an effective method for improving supply chain performance. However, there is limited advice available to assist practitioners in selecting the most appropriate method for a given problem. Much of the advice that does exist relies on custom and practice rather than a rigorous conceptual or empirical analysis. An analysis of the different modelling techniques applied in the supply chain domain was conducted, and the three main approaches to simulation used were identified; these are System Dynamics (SD), Discrete Event Simulation (DES) and Agent Based Modelling (ABM). This research has examined these approaches in two stages. Firstly, a first principles analysis was carried out in order to challenge the received wisdom about their strengths and weaknesses and a series of propositions were developed from this initial analysis. The second stage was to use the case study approach to test these propositions and to provide further empirical evidence to support their comparison. The contributions of this research are both in terms of knowledge and practice. In terms of knowledge, this research is the first holistic cross paradigm comparison of the three main approaches in the supply chain domain. Case studies have involved building ‘back to back’ models of the same supply chain problem using SD and a discrete approach (either DES or ABM). This has led to contributions concerning the limitations of applying SD to operational problem types. SD has also been found to have risks when applied to strategic and policy problems. Discrete methods have been found to have potential for exploring strategic problem types. It has been found that discrete simulation methods can model material and information feedback successfully. Further insights have been gained into the relationship between modelling purpose and modelling approach. In terms of practice, the findings have been summarised in the form of a framework linking modelling purpose, problem characteristics and simulation approach.

Simulation in the supply chain context:matching the simulation tool to the problem

The supply chain can be a source of competitive advantage for the firm. Simulation is an effective tool for investigating supply chain problems. The three main simulation approaches in the supply chain context are System Dynamics (SD), Discrete Event Simulation (DES) and Agent Based Modelling (ABM). A sample from the literature suggests that whilst SD and ABM have been used to address strategic and planning problems, DES has mainly been used on planning and operational problems., A review of received wisdom suggests that historically, driven by custom and practice, certain simulation techniques have been focused on certain problem types. A theoretical review of the techniques, however, suggests that the scope of their application should be much wider and that supply chain practitioners could benefit from applying them in this broader way.