Commonality in Returns, Order Flows, and Liquidity in the Greek Stock Market

Using a unique high-frequency data-set on a comprehensive sample of Greek blue-chip stocks, spanning from September 2003 through March 2006, this note assesses the extent and role of commonality in returns, order flows (OFs), and liquidity. It also formally models aggregate equity returns in terms of aggregate equity OF, in an effort to clarify OF's importance in explaining returns for the Athens Exchange market. Almost a quarter of the daily returns in the FTSE/ATHEX20 index is explained by aggregate own OF. In a second step, using principal components and canonical correlation analyses, we document substantial common movements in returns, OFs, and liquidity, both on a market-wide basis and on an individual security basis. These results emphasize that asset pricing and liquidity cannot be analyzed in isolation from each other.

Irish social thought and the relief of poverty, 1847-1880

This paper investigates the way in which the ‘problem of poverty’ in Ireland was encountered, constructed and debated by members of the Irish intellectual and political elite in the decades between the Great Famine and the outbreak of the land war in the late 1870s. This period witnessed acute social upheavals in Ireland, from the catastrophic nadir of the Famine, through the much-vaunted economic recovery of the 1850s–1860s, to the near-famine panic of the late 1870s (itself prefigured by a lesser agricultural crisis in 1859–63). The paper focuses on how a particular elite group – the ‘Dublin School’ of political economists and their circle, and most prominently William Neilson Hancock and John Kells Ingram – sought to define and investigate the changing ‘problem’, shape public attitudes towards the legitimacy of welfare interventions and lobby state officials in the making of poor law policy in this period. It suggests that the crisis of 1859–63 played a disproportionate role in the reevaluation of Irish poor relief and in promoting a campaign for an ‘anglicisation’ of poor law measures and practice in Ireland.

Sea turtle diving and foraging behaviour around the Greek Island of Kefalonia

The discovery of a shallow water (

The Sacred and the Obscure: Greek in the Carolingian Reception of Martianus Capella

Carolingian scholars paid considerable attention to the Greek found in Martianus Capella’s De nuptiis Philologiae et Mercurii, a late antique Latin work full of obscurities in language and imagery. This article, focusing on glosses on De nuptiis from the oldest gloss tradition, demonstrates that a range of material was available to ninth-century scholars to elucidate Martianus’s Greek and that Greek seems, at times, to have served as a means to obscure. I argue that their interest in obscurity reflects a widespread epistemology and strategy of concealment, hence their intellectual investment in Martianus. For ninth-century readers, then, the Greek in the glossed Martianus manuscripts, however decorative it may have been, also operated at the core of medieval hermeneutics.

Thought insertion: Abnormal sense of thought agency or thought endorsement?

The standard approach to the core phenomenology of thought insertion characterizes it in terms of a normal sense of thought ownership coupled with an abnormal sense of thought agency. Recently, Fernández (2010) has argued that there are crucial problems with this approach and has proposed instead that what goes wrong fundamentally in such a phenomenology is a sense of thought commitment, characterized in terms of thought endorsement. In this paper, we argue that even though Fernández raises new issues that enrich the topic, his proposal cannot rival the version of the standard approach we shall defend.

Identification of dyes on ancient Chinese paper samples using the subtracted shifted Raman spectroscopy method

The Stein Collection in the British Library contains the Diamond Sutra, the world's oldest, dated, printed document. The paper of the Diamond Sutra and other documents from the Stein collection is believed to be dyed yellow by a natural extract, called huangbo, from the bark of Phellodendron amurense, which contains three major yellow chromophores: berberine, palmatine, and jatrorrhizine, Conservation of these documents requires definite information on the chemical composition of the dyes but no suitable, completely noninvasive analytical method is known. Here we report resonance Raman studies of a series of prate dyes, of plant materials and extracts, and of dyed ancient and modern paper samples. Resonance Raman spectroscopy is used to enhance the spectra of the dyes over the signals from the paper matrixes in which they are held. The samples an give resonance Raman spectra which are dominated by intense fluorescence, but by using SSRS (subtracted shifted Raman spectroscopy) we have obtained reliable spectra of the pure dyes, native bark from the Phellodendron amurense, modern paper dyed with huangbo extracted from this bark, and ancient paper samples. For both ancient paper samples whose pigment bands were detected, the relative intensities of the bands due to berberine and palmatine suggest that the ancient paper is richer in berberine than its modern counterpart, This is the first nondestructive in situ method for detection of these pigments in manuscripts, and as such has considerable potential benefit for the treatment of irreplaceable documents that are believed to be dyed with huangbo but documents on which conservation work cannot proceed without definite identification of the chemical compounds that they contain.

Speciation in Red Algae: Members of the Ceramiales as Model Organisms

Red algae (Rhodophyta) are an ancient group with unusual morphological, biochemical, and life-history features including a complete absence of flagella. Although the red algae present many opportunities for studying speciation, this has rarely been explicitly addressed. Here, we examine an aspect of paternal gene flow by determining fertilization success of female Neosiphonia harveyi (Ceramiales), which retains a morphological record of all successful and unsuccessful female gametes. High fertilization rates were observed except when there were no males at all within the tidepool, or in a submerged marina environment. Small numbers of reproductive males were able to saturate fertilization rates, suggesting that limited availability of sperm may be less significant in red algae than previously thought. In another member of the Ceramiales, Antithamnion, relatively large chromosomes permit karyological identification of polyploids. The Western Pacific species Antithamnion sparsum is closely related to the diploid species Antithamnion defectum, known only from the Eastern Pacific, and appears to have evolved from it. Molecular evidence suggests that A. sparsum is an autopolyploid, and that the European species known as Antithamnion densum is divergent from the A. sparsum/defectum complex.