Market risk reporting by the world's top banks:evidence on the diversity of reporting practice and the implications for international accounting harmonisation

The increasing adoption of international accounting standards and global convergence of accounting regulations is frequently heralded as serving to reduce diversity in financial reporting practice. In a process said to be driven in large part by the interests of international business and global financial markets, one might expect the greatest degree of convergence to be found amongst the world’s largest multinational financial corporations. This paper challenges such claims and presumptions. Its content analysis of longitudinal data for the period 2000-2006 reveals substantial, on going diversity in the market risk disclosure practices, both numerical and narrative, of the world’s top-25 banks. The significance of such findings is reinforced by the sheer scale of the banking sector’s risk exposures that have been subsequently revealed in the current global financial crisis. The variations in disclosure practices documented in the paper apply both across and within national boundaries, leading to a firm conclusion that, at least in terms of market risk reporting, progress towards international harmonisation remains rather more apparent than real.

Evaluating the appropriateness of speech input in marine applications:a field evaluation

This paper discusses the first of three studies which collectively represent a convergence of two ongoing research agendas: (1) the empirically-based comparison of the effects of evaluation environment on mobile usability evaluation results; and (2) the effect of environment - in this case lobster fishing boats - on achievable speech-recognition accuracy. We describe, in detail, our study and outline our results to date based on preliminary analysis. Broadly speaking, the potential for effective use of speech for data collection and vessel control looks very promising - surprisingly so! We outline our ongoing analysis and further work.

Stability of multi-agent systems

This work attempts to shed light to the fundamental concepts behind the stability of Multi-Agent Systems. We view the system as a discrete time Markov chain with a potentially unknown transitional probability distribution. The system will be considered to be stable when its state has converged to an equilibrium distribution. Faced with the non-trivial task of establishing the convergence to such a distribution, we propose a hypothesis testing approach according to which we test whether the convergence of a particular system metric has occurred. We describe some artificial multi-agent ecosystems that were developed and we present results based on these systems which confirm that this approach qualitatively agrees with our intuition.

Neurophysiological evaluation of convergent afferents innervating the human esophagus and area of referred pain on the anterior chest wall

Noxious stimuli in the esophagus cause pain that is referred to the anterior chest wall because of convergence of visceral and somatic afferents within the spinal cord. We sought to characterize the neurophysiological responses of these convergent spinal pain pathways in humans by studying 12 healthy subjects over three visits (V1, V2, and V3). Esophageal pain thresholds (Eso-PT) were assessed by electrical stimulation and anterior chest wall pain thresholds (ACW-PT) by use of a contact heat thermode. Esophageal evoked potentials (EEP) were recorded from the vertex following 200 electrical stimuli, and anterior chest wall evoked potentials (ACWEP) were recorded following 40 heat pulses. The fear of pain questionnaire (FPQ) was administered on V1. Statistical data are shown as point estimates of difference +/- 95% confidence interval. Pain thresholds increased between V1 and V3 [Eso-PT: V1-V3 = -17.9 mA (-27.9, -7.9) P < 0.001; ACW-PT: V1-V3 = -3.38 degrees C (-5.33, -1.42) P = 0.001]. The morphology of cortical responses from both sites was consistent and equivalent [P1, N1, P2, N2 complex, where P1 and P2 are is the first and second positive (downward) components of the CEP waveform, respectively, and N1 and N2 are the first and second negative (upward) components, respectively], indicating activation of similar cortical networks. For EEP, N1 and P2 latencies decreased between V1 and V3 [N1: V1-V3 = 13.7 (1.8, 25.4) P = 0.02; P2: V1-V3 = 32.5 (11.7, 53.2) P = 0.003], whereas amplitudes did not differ. For ACWEP, P2 latency increased between V1 and V3 [-35.9 (-60, -11.8) P = 0.005] and amplitudes decreased [P1-N1: V1-V3 = 5.4 (2.4, 8.4) P = 0.01; P2-N2: 6.8 (3.4, 10.3) P < 0.001]. The mean P1 latency of EEP over three visits was 126.6 ms and that of ACWEP was 101.6 ms, reflecting afferent transmission via Adelta fibers. There was a significant negative correlation between FPQ scores and Eso-PT on V1 (r = -0.57, P = 0.05). These data provide the first neurophysiological evidence of convergent esophageal and somatic pain pathways in humans.

A Recession Notion for a Class of Monotone Bivariate Functions

Using monotone bifunctions, we introduce a recession concept for general equilibrium problems relying on a variational convergence notion. The interesting purpose is to extend some results of P. L. Lions on variational problems. In the process we generalize some results by H. Brezis and H. Attouch relative to the convergence of the resolvents associated with maximal monotone operators.

Molecular Dynamics implementation of BN2D or 'Mercedes Benz' water model

Two-dimensional 'Mercedes Benz' (MB) or BN2D water model (Naim, 1971) is implemented in Molecular Dynamics. It is known that the MB model can capture abnormal properties of real water (high heat capacity, minima of pressure and isothermal compressibility, negative thermal expansion coefficient) (Silverstein et al., 1998). In this work formulas for calculating the thermodynamic, structural and dynamic properties in microcanonical (NVE) and isothermal-isobaric (NPT) ensembles for the model from Molecular Dynamics simulation are derived and verified against known Monte Carlo results. The convergence of the thermodynamic properties and the system's numerical stability are investigated. The results qualitatively reproduce the peculiarities of real water making the model a visually convenient tool that also requires less computational resources, thus allowing simulations of large (hydrodynamic scale) molecular systems. We provide the open source code written in C/C++ for the BN2D water model implementation using Molecular Dynamics.

Exploring image databases at the tip of your fingers

Visual information is becoming increasingly important and tools to manage repositories of media collections are highly sought after. In this paper, we focus on image databases and on how to effectively and efficiently access these. In particular, we present effective image browsing systems that are operated on a large multi-touch environment for truly interactive exploration. Not only do image browsers pose a useful alternative to retrieval-based systems, they also provide a visualisation of the whole image collection and let users explore particular parts of the collection. Our systems are based on the idea that visually similar images are located close to each other in the visualisation, that image thumbnails are arranged on a regular lattice (either a regular grid projected on a sphere or a hexagonal lattice), and that large image datasets can be accessed through a hierarchical tree structure. © 2014 International Information Institute.

A Note on the Asymptotic Behaviour of a Periodic Multitype Galton-Watson Branching Process

2000 Mathematics Subject Classification: 60J80.

A Refinement of some Overrelaxation Algorithms for Solving a System of Linear Equations

In this paper we propose a refinement of some successive overrelaxation methods based on the reverse Gauss–Seidel method for solving a system of linear equations Ax = b by the decomposition A = Tm − Em − Fm, where Tm is a banded matrix of bandwidth 2m + 1. We study the convergence of the methods and give software implementation of algorithms in Mathematica package with numerical examples. ACM Computing Classification System (1998): G.1.3.

Asymptotic Analysis of a Schrödinger-Poisson System with Quantum Wells and Macroscopic Nonlinearities in Dimension 1

2000 Mathematics Subject Classification: 35Q02, 35Q05, 35Q10, 35B40.

Rhythm makes the world go round:an MEG-TMS study on the role of right TPJ theta oscillations in embodied perspective taking

While some aspects of social processing are shared between humans and other species, some aspects are not. The former seems to apply to merely tracking another's visual perspective in the world (i.e., what a conspecific can or cannot perceive), while the latter applies to perspective taking in form of mentally “embodying” another's viewpoint. Our previous behavioural research had indicated that only perspective taking, but not tracking, relies on simulating a body schema rotation into another's viewpoint. In the current study we employed Magnetoencephalography (MEG) and revealed that this mechanism of mental body schema rotation is primarily linked to theta oscillations in a wider brain network of body-schema, somatosensory and motor-related areas, with the right posterior temporo-parietal junction (pTPJ) at its core. The latter was reflected by a convergence of theta oscillatory power in right pTPJ obtained by overlapping the separately localised effects of rotation demands (angular disparity effect), cognitive embodiment (posture congruence effect), and basic body schema involvement (posture relevance effect) during perspective taking in contrast to perspective tracking. In a subsequent experiment we interfered with right pTPJ processing using dual pulse Transcranial Magnetic Stimulation (dpTMS) and observed a significant reduction of embodied processing. We conclude that right TPJ is the crucial network hub for transforming the embodied self into another's viewpoint, body and/or mind, thus, substantiating how conflicting representations between self and other may be resolved and potentially highlighting the embodied origins of high-level social cognition in general.

Capabilities and roles of enterprise wikis in organizational communication

How can technical communicators in organizations benefit from wiki technology? This article alerts technical communicators to the possibilities of wiki-based collaborative content creation. It analyzes 32 articles on the use of corporate wikis, and compares them to three media choice theories: media richness theory, theory of media synchronicity, and common ground theory.

A kohéziós politika hatékonysága (The efficiency of cohesion policy)

A kohéziós politika hatékonyságát, eredményességét és szabályszerűségét a nemzetállami szint mellett közösségi szinten is értelmezhetjük. Azonban a közösségi szint nem a tagállami részek összege, hanem annál sokkal jelentősebb. Ha a közösségi szinten nem támasztható alá a kohéziós politika szükségszerűsége, akkor annak költségvetése és ezáltal jelentősége az EU következő pénzügyi perspektívájában csökkenhet, amelynek súlyos kihatásai lennének a tagállamok és régióik közötti kohéziós folyamatokra. Éppen ezért fontos a kohéziós politika objektív és részletes elemzése tagállami szinten, valamint a közösségi szintű kohéziós politika kritikáinak és a különböző reformelképzeléseknek vizsgálata. / === / The efficiency, effectiveness and regularity of cohesion policy can be defined both on the community level and on the national level. But the community level more than the sum of the member states. If the necessity of the cohesion policy cannot be backed sufficiently, then its budget of the policy can be decreased in the next financial framework of the EU. This could deeply undermine the process of convergence of the less developed regions of the member states. This is why the objective and detailed analysis of the cohesion policy is important, together with knowing the criticisms and reform proposals of the community level cohesion policy.

Through the kaleidoscope: media consumption patterns in the participatory cross-media era

The paper aims to identify actual media audiences of different mass- and non-mass media types through identifying those audience clusters consuming not different but differentiable media mixes. A major concern of the study is to highlight the transformation of mass media audiences when technology, digitalization and participation behaviors are able to reshape traditional audience forms and media diets, which may directly affect the traditional media value chain and in turn the thinking and decision making of media managers. Through such a kaleidoscope the authors examined media use and consumption patterns using an online self-reported questionnaire. They developed different media consumer clusters as well as media consumption mixes. Based on the results of the study the authors can state that internet use is today’s main base of media consumption, and as such it is becoming the real mass media, replacing television. However this “new” media has a completely different structure, being more fragmented with smaller audience reach. At the same time, television is keeping its audience. However, there are emerging segments self-reporting non- or light television viewing. This is how the question of the viewer-television relation among different television viewer clusters evolves. At the same time only gaming exhibited demographic differentiation of audiences based on gender.

Manuel A. Penalver , M.D. joins Florida International University College of Medicine

Press Release from Florida International University 's Office of Media Relations on the appoinrment of Dr. Manuel A Penalver as chair of the Department of Obstetrics and Gynecology at Florida International University 's College of Medicine.