Aggregations and Marginalization of GARCH and Stochastic Volatility Models

The GARCH and Stochastic Volatility paradigms are often brought into conflict as two competitive views of the appropriate conditional variance concept : conditional variance given past values of the same series or conditional variance given a larger past information (including possibly unobservable state variables). The main thesis of this paper is that, since in general the econometrician has no idea about something like a structural level of disaggregation, a well-written volatility model should be specified in such a way that one is always allowed to reduce the information set without invalidating the model. To this respect, the debate between observable past information (in the GARCH spirit) versus unobservable conditioning information (in the state-space spirit) is irrelevant. In this paper, we stress a square-root autoregressive stochastic volatility (SR-SARV) model which remains true to the GARCH paradigm of ARMA dynamics for squared innovations but weakens the GARCH structure in order to obtain required robustness properties with respect to various kinds of aggregation. It is shown that the lack of robustness of the usual GARCH setting is due to two very restrictive assumptions : perfect linear correlation between squared innovations and conditional variance on the one hand and linear relationship between the conditional variance of the future conditional variance and the squared conditional variance on the other hand. By relaxing these assumptions, thanks to a state-space setting, we obtain aggregation results without renouncing to the conditional variance concept (and related leverage effects), as it is the case for the recently suggested weak GARCH model which gets aggregation results by replacing conditional expectations by linear projections on symmetric past innovations. Moreover, unlike the weak GARCH literature, we are able to define multivariate models, including higher order dynamics and risk premiums (in the spirit of GARCH (p,p) and GARCH in mean) and to derive conditional moment restrictions well suited for statistical inference. Finally, we are able to characterize the exact relationships between our SR-SARV models (including higher order dynamics, leverage effect and in-mean effect), usual GARCH models and continuous time stochastic volatility models, so that previous results about aggregation of weak GARCH and continuous time GARCH modeling can be recovered in our framework.

L’intégration de la perception visuelle du mouvement

La perception visuelle du mouvement est essentielle à l’exécution de déplacements sécuritaires ainsi qu’à l’interaction efficace avec notre environnement. C’est pourquoi il est nécessaire de comprendre la nature des mécanismes responsables de l’analyse de l’information sur le mouvement, ainsi que l’effet du vieillissement sur la réponse de ces mécanismes. Deux études seront présentées. La première avait pour but l’analyse des mécanismes responsables de la perception du mouvement de rotation fractale, nouveau stimulus introduit par Benton, O’Brien & Curran (2007). Ce type de stimulus a été créé afin d’isoler les mécanismes sensibles à la forme. Plusieurs auteurs ont suggéré que les mécanismes sensibles au mouvement de deuxième ordre utiliseraient les indices de position afin d’extraire l’information sur le mouvement (Seiffert & Cavanagh, 1998). Ainsi, la présente étude visait à déterminer si la rotation fractale est analysée par de tels mécanismes. Les résultats obtenus suggèrent que les mécanismes sensibles à la rotation fractale seraient basés sur l’orientation; tandis que ceux sensibles à la rotation de premier ordre, basés sur l’énergie. De plus, une certaine dissociation des mécanismes responsables du traitement de la rotation fractale et de premier ordre serait présente. La deuxième étude avait pour but, quant à elle, d’établir l’effet du vieillissement sur l’intégration du mouvement de premier et deuxième ordre. Les résultats indiquent que les mécanismes sensibles au mouvement de deuxième ordre seraient davantage affectés, comparativement à ceux de premier ordre. Ainsi, les fonctions visuelles requérant une intégration corticale de plus haut niveau seraient davantage affectées par l’effet du vieillissement.

Use of cellular impedance to characterize ligand functional selectivity at G protein-coupled receptors

Les récepteurs couplés aux protéines G (RCPGs) représentent la plus grande famille de cibles thérapeutiques pour le traitement d’une panoplie de pathologies humaines. Bien que plusieurs décennies de recherche aient permis de façonner nos connaissances sur ces protéines membranaires, notre compréhension des déterminants moléculaires de leur activité signalétique reste encore limitée. De ces domaines de recherche, une avancée récente a mis à jour un nouveau phénomène, appelé sélectivité fonctionnelle des ligands, qui a bouleversé les paradigmes décrivant leu fonctionnement de ces récepteurs. Ce concept émane d’observations montrant que l’activité pharmacologique de certains ligands n’est pas nécessairement conservée sur tout le répertoire signalétiques connu du récepteur et peu se restreindre à l'activation sélective d’un sous-groupe de voies de signalisation.Ce nouveau modèle pharmacologique de l'activation des RCPG ouvre de nouvelles possibilités pour la découverte de médicaments plus efficace et sûr, ciblant les RCPGs. En effet, il permet la conception de molécules modulant spécifiquement les voies signalétiques d’intérêt thérapeutique, sans engager les autres voies qui pourraient mener à des effets secondaires indésirables ou de la tolérance. Cette thèse décrit l'utilisation d'une nouvelle approche sans marquage, basée sur la mesure du changement l'impédance cellulaire. Par la mesure des changements cellulaires, comme la morphologie, l’adhésion et/ou la redistribution des macromolécules, cette approche permet de mesurer de façon simultanée l'activité de plusieurs voies de signalisation impliqués dans ces réponses. Utilisant le récepteur β2-adrénergique (β2AR) comme modèle, nous avons démontré que les variations dans l’impédance cellulaire étaient directement liées à l’activation de multiples voies de signalisation suite à la stimulation du récepteur par son ligand. L’agoniste type du β2AR, l’isoprotérénol, s’est avéré induire une réponse d’impédance dose-dépendante constituée, dans le temps, de plusieurs caractéristiques distinctes pouvant être bloquées de façon compétitive par l’antagoniste ICI118,551 Par l’utilisation d’inhibiteurs sélectifs, nous avons été en mesure de déterminer la contribution de plusieurs voies signalétiques canoniques, comme les voies dépendantes de Gs et Gi, la production d’AMPc et l’activation de ERK1/2, sur ces changements. De plus, la dissection de la réponse d’impédance a permis d’identifier une nouvelle voie de mobilisation du Ca2+ contribuant à la réponse globale des changements initiés par la stimulation du β2AR. Dans une autre étude, nous avons rapporté que la réponse calcique induite par le β2AR serait attribuable à une transactivation Gs-dépendant du récepteur purinergique P2Y11, lui-même couplé à la protéine Gq. La mesure d’impédance permettant de distinguer et de décrire une pléiade d’activités signalétiques, nous avons émis l’hypothèse que des ligands arborant des profils signalétiques différents généreraient des réponses d’impédance distinctes. Le criblage d’une librairie de ligands spécifiques au β2AR a révélé une grande variété de signatures d’impédance. Grâce au développement d’une approche computationnelle innovatrice, nous avons été en mesure de regrouper ces signatures en cinq classes de composés, un regroupement qui s’est avéré hautement corrélé avec le profil signalétique des différents ligands. Nous avons ensuite combiné le criblage de composés par impédance avec l’utilisation d’inhibiteurs sélectifs de voies signalétiques afin d’augmenter la résolution du regroupement. En évaluant l’impact d’une voie signalétique donnée sur la signature d’impédance, nous avons été en mesure de révéler une plus grande variété de textures parmi les ligands. De plus, cette méthode s’est avérée efficace pour prédire le profil signalétique d’une librairie de composés non caractérisés, ciblant le β2AR. Ces travaux ont mené à l’élaboration d’une méthode permettant d’exprimer visuellement la sélectivité fonctionnelle de ligands et ont révélé de nouvelles classes de composés pour ce récepteur. Ces nouvelles classes de composés ont ensuite été testées sur des cardiomyocytes humains, confirmant que les composés regroupés dans différentes classes produisent des effets distincts sur la contractilité de ces cellules. Globalement, ces travaux démontrent la pertinence de l’utilisation de l’impédance cellulaire pour une évaluation précise des différences fonctionnelles parmi les composés ciblant les RCPGs. En fournissant une représentation pluridimensionnelle de la signalisation émanant des RCPGs à l’aide d’un seul essai ne requérant pas de marquage, les signatures d’impédance représentent une stratégie simple et innovante pour l’évaluation de la fonctionnalité sélective des ligands. Cette méthode pourrait être d’une grande utilité dans le processus de découverte de nouveaux médicaments.

L’évolution des représentations sur les langues d’élèves plurilingues du 3e cycle du primaire lors de l’implantation d’un projet d’Éveil aux langues

La présente recherche documente l’évolution des représentations sur les langues de cinq cas d’élèves plurilingues et immigrants ou issus de l’immigration, scolarisés en fin de cycle du primaire en milieu pluriethnique à Montréal, tout au long de l’implantation d’un projet d’Éveil aux langues, sur une période de deux ans. La méthodologie adoptée permet de décrire en profondeur et de façon nuancée, l’évolution des représentations des élèves sur les langues de leur répertoire plurilingue d’une part, et plus largement, sur les langues et de la diversité linguistique d’autre part. Les résultats de la recherche ont permis de mettre en évidence que l’implantation d’un projet d’Éveil aux langues sur deux ans : 1) a des effets positifs sur les représentations sur la diversité linguistique de ces élèves; 2) permet de soutenir le développement de représentations positives sur les langues du répertoire linguistique des élèves qui passe par l’acceptation de compétences partielles dans l’une ou l’autre des langues de leur répertoire et par l’expression d’un sentiment de fierté à propos de leur répertoire plurilingue; 3) permet le développement, chez les élèves, de diverses stratégies pour légitimer l’intégration de langues dans lesquelles ils ont des compétences partielles au sein de leur répertoire linguistique : apporter un jugement de valeur sur leurs compétences, spécifier leur domaine de compétence (expression orale ou écrite, compréhension orale ou écrite), qualifier, étiqueter leurs langues (langue maternelle, langue d’origine, langue seconde), adapter les définitions formelles présentées dans le projet sur le plurilinguisme à leur situation; 4) les représentations sur les langues par les élèves peuvent être marquées par le poids des représentations sociales; toutefois, cette tendance se lénifie au fur et à mesure de l’implantation du projet et une majorité d’élèves partage des représentations plus individualisées et moins marquées par des stéréotypes en fin de projet; 5) permet, pour les élèves de niveau scolaire fort et moyen, le développement d’un vocabulaire de haut niveau ainsi que le développement d’une curiosité envers la langue de l’Autre; 6) permet, pour les élèves de niveau scolaire faible, et à partir de la seconde année d’implantation, le développement d’un engagement dans les activités qui passe par une participation accrue au projet et le développement de compétence langagière (meilleure qualité argumentative); 7) offre la possibilité aux élèves de se connaître les uns les autres, d’être à l’écoute de l’Autre et d’exprimer de la curiosité envers la langue de l’autre et de reconnaître l’expertise de l’Autre, ceci participant à la mise en place d’une dynamique relationnelle propice aux apprentissages

Properties of Equilibrium Distributions of Order n

The present work is intended to discuss various properties and reliability aspects of higher order equilibrium distributions in continuous, discrete and multivariate cases, which contribute to the study on equilibrium distributions. At first, we have to study and consolidate the existing literature on equilibrium distributions. For this we need some basic concepts in reliability. These are being discussed in the 2nd chapter, In Chapter 3, some identities connecting the failure rate functions and moments of residual life of the univariate, non-negative continuous equilibrium distributions of higher order and that of the baseline distribution are derived. These identities are then used to characterize the generalized Pareto model, mixture of exponentials and gamma distribution. An approach using the characteristic functions is also discussed with illustrations. Moreover, characterizations of ageing classes using stochastic orders has been discussed. Part of the results of this chapter has been reported in Nair and Preeth (2009). Various properties of equilibrium distributions of non-negative discrete univariate random variables are discussed in Chapter 4. Then some characterizations of the geo- metric, Waring and negative hyper-geometric distributions are presented. Moreover, the ageing properties of the original distribution and nth order equilibrium distribu- tions are compared. Part of the results of this chapter have been reported in Nair, Sankaran and Preeth (2012). Chapter 5 is a continuation of Chapter 4. Here, several conditions, in terms of stochastic orders connecting the baseline and its equilibrium distributions are derived. These conditions can be used to rede_ne certain ageing notions. Then equilibrium distributions of two random variables are compared in terms of various stochastic orders that have implications in reliability applications. In Chapter 6, we make two approaches to de_ne multivariate equilibrium distribu- tions of order n. Then various properties including characterizations of higher order equilibrium distributions are presented. Part of the results of this chapter have been reported in Nair and Preeth (2008). The Thesis is concluded in Chapter 7. A discussion on further studies on equilib- rium distributions is also made in this chapter.

Studies on nitrifying microorganisms in Cochin Estuary and adjacent coastal waters

This thesis entitled “Studies on Nitrifying Microorganisms in Cochin Estuary and Adjacent Coastal Waters” reports for the first time the spatial andtemporal variations in the abundance and activity of nitrifiers (Ammonia oxidizingbacteria-AOB; Nitrite oxidizing bacteria- NOB and Ammonia oxidizing archaea-AOA) from the Cochin Estuary (CE), a monsoon driven, nutrient rich tropicalestuary along the southwest coast of India. To fulfil the above objectives, field observations were carried out for aperiod of one year (2011) in the CE. Surface (1 m below surface) and near-bottomwater samples were collected from four locations (stations 1 to 3 in estuary and 4 in coastal region), covering pre-monsoon, monsoon and post-monsoon seasons. Station 1 is a low saline station (salinity range 0-10) with high freshwater influx While stations 2 and 3 are intermediately saline stations (salinity ranges 10-25). Station 4 is located ~20 km away from station 3 with least influence of fresh water and is considered as high saline (salinity range 25- 35) station. Ambient physicochemical parameters like temperature, pH, salinity, dissolved oxygen (DO), Ammonium, nitrite, nitrate, phosphate and silicate of surface and bottom waters were measured using standard techniques. Abundance of Eubacteria, total Archaea and ammonia and nitrite oxidizing bacteria (AOB and NOB) were quantified using Fluorescent in situ Hybridization (FISH) with oligonucleotide probes labeled withCy3. Community structure of AOB and AOA was studied using PCR Denaturing Gradient Gel Electrophoresis (DGGE) technique. PCR products were cloned and sequenced to determine approximate phylogenetic affiliations. Nitrification rate in the water samples were analyzed using chemical NaClO3 (inhibitor of nitrite oxidation), and ATU (inhibitor of ammonium oxidation). Contribution of AOA and AOB in ammonia oxidation process was measured based on the recovered ammonia oxidation rate. The contribution of AOB and AOA were analyzed after inhibiting the activities of AOB and AOA separately using specific protein inhibitors. To understand the factors influencing or controlling nitrification, various statistical tools were used viz. Karl Pearson’s correlation (to find out the relationship between environmental parameters, bacterial abundance and activity), three-way ANOVA (to find out the significant variation between observations), Canonical Discriminant Analysis (CDA) (for the discrimination of stations based on observations), Multivariate statistics, Principal components analysis (PCA) and Step up multiple regression model (SMRM) (First order interaction effects were applied to determine the significantly contributing biological and environmental parameters to the numerical abundance of nitrifiers). In the CE, nitrification is modulated by the complex interplay between different nitrifiers and environmental variables which in turn is dictated by various hydrodynamic characteristics like fresh water discharge and seawater influx brought in by river water discharge and flushing. AOB in the CE are more adapted to varying environmental conditions compared to AOA though the diversity of AOA is higher than AOB. The abundance and seasonality of AOB and NOB is influenced by the concentration of ammonia in the water column. AOB are the major players in modulating ammonia oxidation process in the water column of CE. The distribution pattern and seasonality of AOB and NOB in the CE suggest that these organisms coexist, and are responsible for modulating the entire nitrification process in the estuary. This process is fuelled by the cross feeding among different nitrifiers, which in turn is dictated by nutrient levels especially ammonia. Though nitrification modulates the increasing anthropogenic ammonia concentration the anthropogenic inputs have to be controlled to prevent eutrophication and associated environmental changes.

Zur Vakuumpolarisation in Myonenatomen

The various approximations of vacuum polarization potential and the higher order corrections up to \alpha^3 are reviewed and quantitatively dicussed. The quadrupol part of the vacuum polarization is established. It leads rather straight forward to a small contribution of vacuum polarization to nuclear polarization. These effects are quantitatively investigated.

Multiple-scattering in radar systems: a review

Although extensively studied within the lidar community, the multiple scattering phenomenon has always been considered a rare curiosity by radar meteorologists. Up to few years ago its appearance has only been associated with two- or three-body-scattering features (e.g. hail flares and mirror images) involving highly reflective surfaces. Recent atmospheric research aimed at better understanding of the water cycle and the role played by clouds and precipitation in affecting the Earth's climate has driven the deployment of high frequency radars in space. Examples are the TRMM 13.5 GHz, the CloudSat 94 GHz, the upcoming EarthCARE 94 GHz, and the GPM dual 13-35 GHz radars. These systems are able to detect the vertical distribution of hydrometeors and thus provide crucial feedbacks for radiation and climate studies. The shift towards higher frequencies increases the sensitivity to hydrometeors, improves the spatial resolution and reduces the size and weight of the radar systems. On the other hand, higher frequency radars are affected by stronger extinction, especially in the presence of large precipitating particles (e.g. raindrops or hail particles), which may eventually drive the signal below the minimum detection threshold. In such circumstances the interpretation of the radar equation via the single scattering approximation may be problematic. Errors will be large when the radiation emitted from the radar after interacting more than once with the medium still contributes substantially to the received power. This is the case if the transport mean-free-path becomes comparable with the instrument footprint (determined by the antenna beam-width and the platform altitude). This situation resembles to what has already been experienced in lidar observations, but with a predominance of wide- versus small-angle scattering events. At millimeter wavelengths, hydrometeors diffuse radiation rather isotropically compared to the visible or near infrared region where scattering is predominantly in the forward direction. A complete understanding of radiation transport modeling and data analysis methods under wide-angle multiple scattering conditions is mandatory for a correct interpretation of echoes observed by space-borne millimeter radars. This paper reviews the status of research in this field. Different numerical techniques currently implemented to account for higher order scattering are reviewed and their weaknesses and strengths highlighted. Examples of simulated radar backscattering profiles are provided with particular emphasis given to situations in which the multiple scattering contributions become comparable or overwhelm the single scattering signal. We show evidences of multiple scattering effects from air-borne and from CloudSat observations, i.e. unique signatures which cannot be explained by single scattering theory. Ideas how to identify and tackle the multiple scattering effects are discussed. Finally perspectives and suggestions for future work are outlined. This work represents a reference-guide for studies focused at modeling the radiation transport and at interpreting data from high frequency space-borne radar systems that probe highly opaque scattering media such as thick ice clouds or precipitating clouds.

An analytical model of mountain wave drag for wind profiles with shear and curvature

An analytical model is developed to predict the surface drag exerted by internal gravity waves on an isolated axisymmetric mountain over which there is a stratified flow with a velocity profile that varies relatively slowly with height. The model is linear with respect to the perturbations induced by the mountain, and solves the Taylor–Goldstein equation with variable coefficients using a Wentzel–Kramers–Brillouin (WKB) approximation, formally valid for high Richardson numbers, Ri. The WKB solution is extended to a higher order than in previous studies, enabling a rigorous treatment of the effects of shear and curvature of the wind profile on the surface drag. In the hydrostatic approximation, closed formulas for the drag are derived for generic wind profiles, where the relative magnitude of the corrections to the leading-order drag (valid for a constant wind profile) does not depend on the detailed shape of the orography. The drag is found to vary proportionally to Ri21, decreasing as Ri decreases for a wind that varies linearly with height, and increasing as Ri decreases for a wind that rotates with height maintaining its magnitude. In these two cases the surface drag is predicted to be aligned with the surface wind. When one of the wind components varies linearly with height and the other is constant, the surface drag is misaligned with the surface wind, especially for relatively small Ri. All these results are shown to be in fairly good agreement with numerical simulations of mesoscale nonhydrostatic models, for high and even moderate values of Ri.

Multilocus Analyses of Seven Candidate Genes Suggest Interacting Pathways for Obesity-Related Traits in Brazilian Populations

We investigated whether variants in major candidate genes for food intake and body weight regulation contribute to obesity-related traits under a multilocus perspective. We studied 375 Brazilian subjects from partially isolated African-derived populations (quilombos). Seven variants displaying conflicting results in previous reports and supposedly implicated in the susceptibility of obesity-related phenotypes were investigated: beta(2)-adrenergic receptor (ADRB2) (Arg16Gly), insulin induced gene 2 (INSIG2) (rs7566605), leptin (LEP) (A19G), LEP receptor (LEPR) (Gln223Arg), perilipin (PLIN) (6209T > C), peroxisome proliferator-activated receptor-gamma (PPARG) (Pro12Ala), and resistin (RETN) (-420C > G). Regression models as well as generalized multifactor dimensionality reduction (GMDR) were employed to test the contribution of individual effects and higher-order interactions to BMI and waist-hip ratio (WHR) variation and risk of overweight/obesity. The best multilocus association signal identified in the quilombos was further examined in an independent sample of 334 Brazilian subjects of European ancestry. In quilombos, only the PPARG polymorphism displayed significant individual effects (WHR variation, P = 0.028). No association was observed either with the risk of overweight/obesity (BMI >= 25 kg/m(2)), risk of obesity alone (BMI >= 30 kg/m(2)) or BMI variation. However, GMDR analyses revealed an interaction between the LEPR and ADRB2 polymorphisms (P = 0.009) as well as a third-order effect involving the latter two variants plus INSIG2 (P = 0.034) with overweight/obesity. Assessment of the LEPR-ADRB2 interaction in the second sample indicated a marginally significant association (P = 0.0724), which was further verified to be limited to men (P = 0.0118). Together, our findings suggest evidence for a two-locus interaction between the LEPR Gln223Arg and ADRB2 Arg16Gly variants in the risk of overweight/obesity, and highlight further the importance of multilocus effects in the genetic component of obesity.

Design of reduced-order scalar functional observers

In the existing literature, the existence conditions and design procedures for scalar functional observers are available for the cases where the observers’ order p is either p=1 or p=(v-1), where v is the observability index of the matrix pair (C,A). Therefore, if an observer with an order p=1 does not exist, the other available option is to use a higher order observer with p=(v-1). This paper shows that there exists another option that can be used to design scalar linear functional observers of the order lower than the well-known upper bound (v-1). The paper provides the existence conditions and a design procedure for scalar functional observers of order 0≤ p ≤2, and demonstrates the presented results with a numerical example.

Estimation of basis frequencies for time-varying SIMO channels : a second-order method

The complex exponential basis expansion model (CE-BEM) provides an accurate description for the time-varying (TV) channels encountered in mobile communications. Many blind channel identification and equalization approaches based on the CE-BEM require precise knowledge of the basis frequencies of TV channels. Existing methods for basis frequency estimation usually resort to the higher-order statistics of channel outputs and impose strict constraints on the source signal. In this paper, we propose a novel method to estimate the basis frequencies for blind identification and equalization of time-varying single-input multiple-output (SIMO) finite-impulse-response (FIR) channels. The proposed method exploits only the second-order statistics of channel outputs and does not require strong conditions on the source signal. As a result, it exhibits superior performance to the existing basis frequency estimation methods. The validity of our method is demonstrated by numerical simulations.

The effects of major change : a case study of an Australian university

Organisational RestructuringLeading higher education organisational restructuring is not an easy task. It involves various degree of engagement, decision making and strategic alliances to make the change a success. Research has shown that organisational restructuring has impact on individuals of the organization and vice versa. Studies have shown that imposed change may create negative emotions such as fear of losing something important, anger and anxiety. On the contrary, planned change is accompanied by excitement and hope. Thus, the call for best practices in leading successful organizational change is greater than ever. Factors such as the fundamental characters and practices of higher education, as well as the presence of various human factors (academics and administrative) need to be taken into account. This paper presents the preliminary findings of a case study on organisational restructuring at a higher education institution in Australia. The restructuring in focus involves the amalgamation of two university faculties into one. This paper seeks to present the experiences and life accounts of faculty members with regards to leadership during the amalgamation process. Interviews were carried out with both the academic and administrative staff. Analysis of the interviews found a variation of views on leadership at different levels of the organisation, the emergence of leadership in times of crisis, the gap between the academics and administrative as well as the importance of organisational members to make the restructuring a success. The paper ends with useful suggestions for leaders and their role towards leading successful change in today’s complex higher education scenario.

Blind extraction using fractional lower-order statistics

In traditional method to blindly extract interesting source signals sequentially, the second-order or higher-order statistics of signals are often utilized. However, for impulsive sources, both of the second-order and higher-order statistics may degenerate. Therefore, it is necessary to exploit new method for the blind extraction of impulsive sources. Based on the best compression-reconstruction principle, a novel model is proposed in this work, together with the corresponding algorithm. The proposed method can be used for blind extraction of sources which are distributed from alpha stable process. Simulations are given to illustrate availability and robustness of our algorithm.

The effects of major change: a case study in an Australian university

The current context of higher education is dynamic with various demands for change. Among catalysts for change are competition, market orientation, globalisation and technology. Nevertheless, the fact is, implementing major change in higher education is not an easy task. Higher education as an entity is unique unlike business organisations. A university has distinctive fundamental characters and practices such as the presence of diverse and ambiguous objectives and semi-autonomous organisational structures. Another issue is the presence of the human factor. In this aspect, the problems, views, experiences and knowledge of faculty members need to be taken into account. All these aspects may contribute to the success of the major change. Yet, some might also resist change. In this light, literature has shown that organisational change impacts individuals of the organization and vice versa. In addition, an imposed change may create negative emotions such as fear of losing something important, anger and anxiety. On the other hand, planned change may be accompanied by excitement and hope. In all these developments, literature has shown that studies on post change era are scarce. This is interesting because scholars have argued that post change era is an important time since it determines the success and failure of the change. This paper is about the effects of major change in an Australian university. Major change is defined as an amalgamation in a higher institution. In this case study, interviews were carried out to extract experiences of leaders and co-workers who had lived through the major change. These multi perspectives provide a rich description of the why, how and what aspects of the major change that may prove useful to leaders and staff of an academic organisation. The paper ends with some suggestions on improving institutional amalgamation.