Back from beyond bid-ask spread: estimating liquidity in international markets

Research on the topic of liquidity has greatly benefited from the improved availability of data. Researchers have addressed questions regarding the factors that influence bid-ask spreads and the relationship between spreads and risk, return and liquidity. Intra-day data have been used to measure the effective spread and researchers have been able to refine the concepts of liquidity to include the price impact of transactions on a trade-by-trade analysis. The growth in the creation of tax-transparent securities has greatly enhanced the visibility of securitized real estate, and has naturally led to the question of whether the increased visibility of real estate has caused market liquidity to change. Although the growth in the public market for securitized real estate has occurred in international markets, it has not been accompanied by universal publication of transaction data. Therefore this paper develops an aggregate daily data-based test for liquidity and applies the test to US data in order to check for consistency with the results of prior intra-day analysis. If the two approaches produce similar results, we can apply the same technique to markets in which less detailed data are available and offer conclusions on the liquidity of a wider set of markets.

Gravity well visibility in haptic interfaces for motion-impaired

Haptic computer interfaces provide users with feedback through the sense of touch, thereby allowing users to feel a graphical user interface. Force feedback gravity wells, i.e. attractive basins that can pull the cursor toward a target, are one type of haptic effect that have been shown to provide improvements in "point and click" tasks. For motion-impaired users, gravity wells could improve times by as much as 50%. It has been reported that the presentation of information to multiple sensory modalities, e.g. haptics and vision, can provide performance benefits. However, previous studies investigating the use of force feedback gravity wells have generally not provided visual representations of the haptic effect. Where force fields extend beyond clickable targets, the addition of visual cues may affect performance. This paper investigates how the performance of motion-impaired computer users is affected by having visual representations of force feedback gravity wells presented on-screen. Results indicate that the visual representation does not affect times and errors in a "point and click" task involving multiple targets.

Amnesty international's language strategy put into practice: a case study of the translation of press releases

This paper investigates the language strategy and translation policies of Amnesty International by discussing the translation of a press release from a textual as well as an institutional point of view. Combining textual analysis with ethnographic methods of data collection and ideas from organisation studies, the paper aims to illustrate how the strategic use of language and translation play a vital role in mediating the NGO’s message and in contributing to its visibility and success. The findings of the textual analysis are contextualised within data collected at the local office of Amnesty International Vlaanderen to come to a better understanding of why particular translation strategies are being applied. The idea of an NGO spreading one consistent message is questioned by showing how different translation strategies apply to different languages and sections, thereby addressing the difficulty of defining translation in the context of news translation.

International civil society actors in Genetically Modificied Organisms as a field of struggle: a neo-gramscian study in Brazil and the United Kingdom

Since the international financial and food crisis that started in 2008, strong emphasis has been made on the importance of Genetically Modified Organisms (GMOs) (or “transgenics”) under the claim that they could contribute to increase food productivity at a global level, as the world population is predicted to reach 9.1 billion in the year 2050 and food demand is predicted to increase by as much as 50% by 2030. GMOs are now at the forefront of the debates and struggles of different actors. Within civil society actors, it is possible to observe multiple, and sometime, conflicting roles. The role of international social movements and international NGOs in the GMO field of struggle is increasingly relevant. However, while many of these international civil society actors oppose this type of technological developments (alleging, for instance, environmental, health and even social harms), others have been reportedly cooperating with multinational corporations, retailers, and the biotechnology industry to promote GMOs. In this thesis research, I focus on analysing the role of “international civil society” in the GMO field of struggle by asking: “what are the organizing strategies of international civil society actors, such as NGOs and social movements, in GMO governance as a field of struggle?” To do so, I adopt a neo-Gramscian discourse approach based on the studies of Laclau and Mouffe. This theoretical approach affirms that in a particular hegemonic regime there are contingent alliances and forces that overpass the spheres of the state and the economy, while civil society actors can be seen as a “glue” to the way hegemony functions. Civil society is then the site where hegemony is consented, reproduced, sustained, channelled, but also where counter-hegemonic and emancipatory forces can emerge. Considering the importance of civil society actors in the construction of hegemony, I also discuss some important theories around them. The research combines, on the one hand, 36 in-depth interviews with a range of key civil society actors and scientists representing the GMO field of struggle in Brazil (19) and the UK (17), and, on the other hand, direct observations of two events: Rio+20 in Rio de Janeiro in 2012, and the first March Against Monsanto in London in 2013. A brief overview of the GMO field of struggle, from its beginning and especially focusing in the 1990s when the process of hegemonic formation became clearer, serves as the basis to map who are the main actors in this field, how resource mobilization works, how political opportunities (“historical contingencies”) are discovered and exploited, which are the main discourses (“science” and “sustainability” - articulated by “biodiversity preservation”, “food security” and “ecological agriculture”) articulated among the actors to construct a collective identity in order to attract new potential allies around “GMOs” (“nodal point”), and which are the institutions and international regulations within these processes that enable hegemony to emerge in meaningful and durable hegemonic links. This mapping indicates that that the main strategies applied by the international civil society actors are influenced by two central historical contingencies in the GMO field of struggle: 1) First Multi-stakeholder Historical Contingency; and 2) “Supposed” Hegemony Stability. These two types of historical contingency in the GMO field of struggle encompass deeper hegemonic articulations and, because of that, they induce international civil society actors to rethink the way they articulate and position themselves within the field. Therefore, depending on one of those moments, they will apply one specific strategy of discourse articulation, such as: introducing a new discourse in hegemony articulation to capture the attention of the public and of institutions; endorsing new plural demands; increasing collective visibility; facilitating material articulations; sharing a common enemy identity; or spreading new ideological elements among the actors in the field of struggle.

Report on the implementation of the 2009-2011 biennial programme of regional and international cooperation activities of the Statistical Conference of the Americas of ECLAC

Incluye Bibliografía

Science publication workshops as a strategy to improve the visibility of scholarly production: the experience of the University of Sao Paulo (USP) - Brazil

The objective of this work is to present the experience of workshops that have been developed at the University of Sao Paulo by the Integrated Library System in partnership with Research Commission. The poster presents the main results of workshops that were made in 2011, in two knowledge areas: life science and engineering, about science publication processes, and directed to graduates, pos-doctorates, researchers, professors and library staff. The realization of workshops made possible identifies gaps in different aspects of scholarly communication such as research planning, search information strategy, information organization, submission process, identification of journals with high impact, and so on, areas where professors and librarians can help. Besides, workshops reveal that the majority of participants believe in its importance. Despite the ubiquity of digital technology that transversely impacts all academic activities, it is imperative to promote efforts to find a convergence between information and media literacy in higher education and university research activities. This is particularly important when we talk about how science is produced, communicated and preserved for future use. In this scenario, libraries and librarians assume a new, more active and committed role.

Accessibility and visibility of academic and scientific production of the University of São Paulo (USP), Brazil

ACADEMIC CONTENTS: Digital Library of Theses and Dissertations, eAULAS, Open Educational Resources. SCIENTIFIC CONTENTS: Digital Library of USP Intellectual Production, Scientific Journals Portal. OTHER CONTENTS: Rare books, Maps, Images.

Detecting periodicity with horizontal visibility graphs

The horizontal visibility algorithm was recently introduced as a mapping between time series and networks. The challenge lies in characterizing the structure of time series (and the processes that generated those series) using the powerful tools of graph theory. Recent works have shown that the visibility graphs inherit several degrees of correlations from their associated series, and therefore such graph theoretical characterization is in principle possible. However, both the mathematical grounding of this promising theory and its applications are in its infancy. Following this line, here we address the question of detecting hidden periodicity in series polluted with a certain amount of noise. We first put forward some generic properties of horizontal visibility graphs which allow us to define a (graph theoretical) noise reduction filter. Accordingly, we evaluate its performance for the task of calculating the period of noisy periodic signals, and compare our results with standard time domain (autocorrelation) methods. Finally, potentials, limitations and applications are discussed.

Improving supply chain performance through improved visibility

Purpose – This paper seeks to investigate the links between different types of visibility, joint initiatives and business performance using the concepts of transparency as a measure of visibility in supply chains. The prognosis that increased supply chain visibility can be achieved through suppliers and customers working on joint initiative(s), the deployment of which leads to collaborative successes, is tested. Design/methodology/approach – Lamming et al.'s transparency concept was used as a basis for the development of a framework for assessing the visibility gaps between the focal company – Rolls-Royce (RR) – and their suppliers. The framework was applied to a particular supplier to identify visibility gaps; subsequently a joint initiative was launched across the supply chain and the benefits measured and assessed. A case study approach was followed due to the contemporary nature of the work undertaken. Findings – The supply chain's performance vis-à-vis schedule adherence was significantly improved as a result of the initiative launched. Additionally, there were improvements in visibility across capacity planning, material ordering and inventory management. Practical implications – The study demonstrated the value of using the developed transparency framework in a structured manner to generate improvements in the supply chain. RR will look to extend its use across other supply chains; the approach could also be extended out to other sectors. Originality/value – The development and application of the transparency frameworks in the aerospace sector are unique and have shown the value of the approach. The work has demonstrated tangibly that the exchange of high-quality information as part of an improvement initiative does lead to significant improvements in the overall performance of the supply chain.

Consuming linked data in supply chains:enabling data visibility via linked pedigrees

The performance of a supply chain depends critically on the coordinating actions and decisions undertaken by the trading partners. The sharing of product and process information plays a central role in the coordination and is a key driver for the success of the supply chain. In this paper we propose the concept of "Linked pedigrees" - linked datasets, that enable the sharing of traceability information of products as they move along the supply chain. We present a distributed and decentralised, linked data driven architecture that consumes real time supply chain linked data to generate linked pedigrees. We then present a communication protocol to enable the exchange of linked pedigrees among trading partners. We exemplify the utility of linked pedigrees by illustrating examples from the perishable goods logistics supply chain.

Enhancing visibility in EPCIS governing agri-food supply chains via linked pedigrees

Data integration for the purposes of tracking, tracing and transparency are important challenges in the agri-food supply chain. The Electronic Product Code Information Services (EPCIS) is an event-oriented GS1 standard that aims to enable tracking and tracing of products through the sharing of event-based datasets that encapsulate the Electronic Product Code (EPC). In this paper, the authors propose a framework that utilises events and EPCs in the generation of "linked pedigrees" - linked datasets that enable the sharing of traceability information about products as they move along the supply chain. The authors exploit two ontology based information models, EEM and CBVVocab within a distributed and decentralised framework that consumes real time EPCIS events as linked data to generate the linked pedigrees. The authors exemplify the usage of linked pedigrees within the fresh fruit and vegetables supply chain in the agri-food sector.

The visibility/invisibility paradox of trust: Developing distributed educational leadership for online communities

A visibility/invisibility paradox of trust operates in the development of distributed educational leadership for online communities. If trust is to be established, the team-based informal ethos of online collaborative networked communities requires a different kind of leadership from that observed in more formal face-to-face positional hierarchies. Such leadership is more flexible and sophisticated, being capable of encompassing both ambiguity and agile response to change. Online educational leaders need to be partially invisible, delegating discretionary powers, to facilitate the effective distribution of leadership tasks in a highly trusting team-based culture. Yet, simultaneously, online communities are facilitated by the visibility and subtle control effected by expert leaders. This paradox: that leaders need to be both highly visible and invisible when appropriate, was derived during research on 'Trust and Leadership' and tested in the analysis of online community case study discussions using a pattern-matching process to measure conversational interactions. This paper argues that both leader visibility and invisibility are important for effective trusting collaboration in online distributed leadership. Advanced leadership responses to complex situations in online communities foster positive group interaction, mutual trust and effective decision-making, facilitated through the active distribution of tasks.