Benchmarking or business opportunity: Using milk recording data to expose your clients' weaknesses

Routine milk recording data, often covering many years, are available for approximately half the dairy herds of England and Wales. In addition to milk yield and quality, these data include production events that can be used to derive objective Key Performance Indicators (KPI) describing a herd's fertility and production. Recent developments in information systems give veterinarians and other technical advisers access to these KPIs on-line. In addition to reviewing individual herd performance, advisers can establish local benchmark groups to demonstrate the relative performance of similar herds in the vicinity. The use of existing milk recording data places no additional demands on farmer's time or resources. These developments could also readily be exploited by universities to introduce veterinary undergraduates to the realities of commercial dairy production.

EQUAL: New horizons for ageing research

The Engineering and Physical Sciences Research Council (EPSRC) extending quality of life (EQUAL) initiative, specifically supports interdisciplinary user-focused design, engineering and technology research concerned with enhancing the independence and quality of life of older and disabled people. This paper briefly describes a recent programme to encourage the adoption of a broader perspective on the lives and needs of older people that have been pursued by EPSRC through its extending quality life (EQUAL) initiative. EPSRC is the principle supporter design, engineering and technology research in UK universities. The paper illustrates the scope of EQUAL.

Means, motive and opportunity? Disentangling client influence on performance measurement appraisals

This paper investigates the extent to which clients were able to influence performance measurement appraisals during the downturn in commercial property markets that began in the UK during the second half of 2007. The sharp change in market sentiment produced speculation that different client categories were attempting to influence their appraisers in different ways. In particular, it was recognised that the requirement for open‐ended funds to meet redemptions gave them strong incentives to ensure that their asset values were marked down to market. Using data supplied by Investment Property Databank, we demonstrate that, indeed, unlisted open‐ended funds experienced sharper drops in capital values than other fund types in the last quarter of 2007, after the market turning point and at the time when redemptions were at their highest. These differences are statistically significant and cannot simply be explained by differences in portfolio composition. Client influence on appraisal forms one possible explanation of the results observed: the different pressures on fund managers resulting in different appraisal outcomes.

Non-testability of equal weights spatial dependence

We show that any invariant test for spatial autocorrelation in a spatial error or spatial lag model with equal weights matrix has power equal to size. This result holds under the assumption of an elliptical distribution. Under Gaussianity, we also show that any test whose power is larger than its size for at least one point in the parameter space must be biased.