Can company-fund manager meetings convey informational benefits? Exploring the rationalisation of equity investment decision making by UK fund managers

Conventional economic theory, applied to information released by listed companies, equates ‘useful’ with ‘price-sensitive’. Stock exchange rules accordingly prohibit the selec- tive, private communication of price-sensitive information. Yet, even in the absence of such communication, UK equity fund managers routinely meet privately with the senior execu- tives of the companies in which they invest. Moreover, they consider these brief, formal and formulaic meetings to be their most important sources of investment information. In this paper we ask how that can be. Drawing on interview and observation data with fund managers and CFOs, we find evidence for three, non-mutually exclusive explanations: that the characterisation of information in conventional economic theory is too restricted, that fund managers fail to act with the rationality that conventional economic theory assumes, and/or that the primary value of the meetings for fund managers is not related to their investment decision making but to the claims of superior knowledge made to clients in marketing their active fund management expertise. Our findings suggest a disconnect between economic theory and economic policy based on that theory, as well as a corre- sponding limitation in research studies that test information-usefulness by assuming it to be synonymous with price-sensitivity. We draw implications for further research into the role of tacit knowledge in equity investment decision-making, and also into the effects of the principal–agent relationship between fund managers and their clients.

Classed femininity, performativity, and camp in British structured reality programming

This article explores the representations and tonal qualities of British “structured reality” programming. Focusing on The Only Way Is Essex and Made in Chelsea, it investigates their glocalizing of the model established by MTV’s Laguna Beach and The Hills. It argues that while they blur boundaries between docusoap, drama, and soap opera, the British programs also recognize and foreground issues of construction for their reality TV-literate youth audience. It suggests the programs play a key role in their respective channel identities and the ideologies of British youth television, connecting to larger issues of class, gender, and taste. This is articulated through their regional and classed femininities, with the article exploring how the programs draw on classed ideologies surrounding “natural” and “excessive” femininities and of the role of this in their engagement with construction and camp play. This play contributes to the tonal shift offered by the British programs, mixing the melodrama of the MTV programs with a knowing, at times comic edge that can tip into mockery. In doing so, the programs offer their audience a combination of performative self-awareness and emotional realism that situates them clearly within British youth television

Design meetings and the coordination of expertise

The coordination of work and expertise in construction projects is often treated in terms of models or formal rules. However, much is to be gained, if we are to understand it, by examining actual coordination practices. The objective in this article is to address practices of coordination of expertise in the context of design team meetings. The focus is specifically on conversational practices between the structural engineer and the landscape architect part of the design team in a healthcare infrastructure project. The central argument is that the coordination of expertise relied on and was organised by mundane and everyday methods, and not by formal and abstract ones. This argument is drawn from ethnomethodology, a form of sociological analysis that focuses on the situated methods by which activities are produced, but shares concerns found in the literature on actual project management practices. The ethnomethodological stance, however, offers a different perspective on the significance of the empirical reality of projects and a possibility to incorporate within this literature a concern with the ordinary methodical organisation of project activities.

CLEC-2-dependent activation of mouse platelets is weakly inhibited by cAMP but not by cGMP

The present results demonstrate that platelet adhesion and activation on CLEC-2 ligands or LECs is maintained in the presence of PGI2 and NO.

Putting the Canal on the map: Panamanian agenda-setting and the 1973 Security Council meetings

In the early 1970s, Panama’s negotiations with the United States over the status of the Panama Canal ground to a standstill. General Omar Torrijos had rejected treaties left unratified by previous governments only to receive a less generous offer from the Nixon administration. Realizing that the talks were being ignored in Washington, the Panamanian government worked to internationalize the previously bilateral issue, creating and exploiting a high-profile forum: Extraordinary meetings of the UN Security Council in March 1973 held in Panama City. In those meetings, Panama isolated the United States in order to raise the issue’s profile and amplify the costs of leaving the matter unsettled. Using underutilized Panamanian sources, this article examines that meeting, the succeeding progress, and the effect of this early stage on the final negotiations several years later. The case also illustrates how, during the unsettled international environment of the 1970s, a small state utilized international organizations to obtain attention and support for its most important cause.

(40)Ar/(39)Ar ages and Sr-Nd-Pb-Os geochemistry of CAMP tholeiites from Western Maranhao basin (NE Brazil)

The Central Atlantic Magmatic Province (CAMP), emplaced at the Triassic-Jurassic (T-J) boundary (-200 Ma), is among the largest igneous provinces on Earth. The Maranhao basin in NE Brazil is located around 700 km inland and 2000 km from the site of the earliest Pangea disruption. The CAMP tholeiites occur only in the western part of the basin and have been described as low and high-Ti. Here we document the occurrence of two sub-groups among the high-Ti tholeiites in the Western Maranhao basin. The major and trace elements and the Sr-Nd-Pb isotopic ratios define three chemical groups corresponding to the low-Ti (TiO(2)< 1.3 wt.%), high-Ti (TiO(2)-2.0 wt.%) and evolved high-Ti (TiO(2 >)3 wt.%) western Maranhao basin tholeiites (WMBT). The new (40)Ar/(39)Ar plateau ages obtained on plagioclase separates for high-Ti (199.7 +/- 2.4 Ma) and evolved high-Ti WMBT (197.2 +/- 0.5 Ma and 198.2 +/- 0.6 Ma) are indistinguishable and identical to those of previously analyzed low-Ti WMBT (198.5 +/- 0.8 Ma) and to the mean (40)Ar/(39)Ar age of the CAMP (199 +/- 2.4 Ma). We also present the first Re-Os isotopic data for CAMP basalts. The low and high-Ti samples display mantle-like initial ((187)Os/(188)Os)(i) ranging from 0.1267 to 0.1299, while the evolved high-Ti samples are more radiogenic (((187)Os/ (188)Os)(i) up to 0.184) We propose that the high-Ti WMBT were derived from the sub-lithospheric asthenosphere, and contaminated during ascent by interaction with the subcontinental lithospheric mantle (SCLM). The evolved high-Ti WMBT were derived from the same asthenospheric source but experienced crustal contamination. The chemical characteristics of the low-Ti group can be explained by partial melting of the most fertile portions of the SCLM metasomatized during paleo-subduction. Alternatively, the low-Ti WMBT could be derived from the sub-lithospheric asthenosphere but the resulting melts may have undergone contamination by the SCLM. The occurrences of high-Ti basalts are apparently not restricted to the area of initial continental disruption which may bring into question previous interpretations such as those relating high-Ti CAMP magmatism to the initiation of Atlantic ridge spreading or as the expression of a deep mantle plume. We propose that the CAMP magmatism in the Maranhao basin may be attributed to local hotter mantle conditions due to the combined effects of edge-driven convection and large-scale mantle warming under the Pangea supercontinent. The involvement of a mantle-plume with asthenosphere-like isotopic characteristics cannot be ruled out either as one of the main source components of the WMBT or as a heat supplier. (C) 2010 Elsevier BM. All rights reserved.

Expression Profile of Rat Hippocampal Neurons Treated with the Neuroprotective Compound 2,4-Dinitrophenol: Up-Regulation of cAMP Signaling Genes

2,4-Dinitrophenol (DNP) is classically known as a mitochondrial uncoupler and, at high concentrations, is toxic to a variety of cells. However, it has recently been shown that, at subtoxic concentrations, DNP protects neurons against a variety of insults and promotes neuronal differentiation and neuritogenesis. The molecular and cellular mechanisms underlying the beneficial neuroactive properties of DNP are still largely unknown. We have now used DNA microarray analysis to investigate changes in gene expression in rat hippocampal neurons in culture treated with low micromolar concentrations of DNP. Under conditions that did not affect neuronal viability, high-energy phosphate levels or mitochondrial oxygen consumption, DNP induced up-regulation of 275 genes and down-regulation of 231 genes. Significantly, several up-regulated genes were linked to intracellular cAMP signaling, known to be involved in neurite outgrowth, synaptic plasticity, and neuronal survival. Differential expression of specific genes was validated by quantitative RT-PCR using independent samples. Results shed light on molecular mechanisms underlying neuroprotection by DNP and point to possible targets for development of novel therapeutics for neurodegenerative disorders.