Pairs trading profits in commodity futures markets

This study employs a pairs trading investment strategy on daily commodity futures returns. The study reveals that pairs trading in similarly related commodity futures earns statistically significant excess returns with commensurate volatility. The excess returns from pairs trading in commodity futures are unrelated to conventional market risk factors and they are not associated with classic contrarian investing. The evidence of pairs trading reflect compensation to arbitrageurs for enforcing the law of one price in similarly related market efficiency.

The leader in you : developing your leadership potential

Leadership research demonstrates that there are serious shortcomings in the quality and competence of leaders in our organizations. The recent global financial crisis has also reminded us that, if our society and economies are to move forward sustainability, we must have the right kind of leaders and the right kind of leadership throughout our organizations. "The Leader in You: Developing Your Leadership Potential" has been framed to be useful to all individuals who are currently in leadership roles, from chief executives to frontline managers, and for those who wish to step up to a leadership role. Organizations can also utilize this book to assist their leaders to increase their leadership potential or to complement leadership development programs. If you want to search for and develop leadership qualities in yourself, then this book is for you. If you want to set a higher standard in your organization and you think leadership is a serious matter in the lives of other people, then this book is for you. In the process of self-reflection, "The Leader in You: Developing Your Leadership Potential" will enable you to develop an individual leadership profile and an individual skills profile, culminating in the development of a plan for leadership improvement. This book aims to couple these outcomes with exposure to some practical skills that leaders need to lead in every day environments. The first four chapters allow the reader to develop an understanding of the concepts that underpin leadership performance, and to undertake exercises to develop a comprehensive understanding of their values, behaviors and personality. That is, to understand who they are and why they behave the way they do. An individual leadership profile is developed at the end of these chapters. Then, the remaining chapters look at issues that leaders will face in contemporary society, and at the skills required to address them in everyday environments. An individual skills profile is developed at the end of these chapters culminating in the development of a plan for leadership improvement.

Inter-sector leader transitions and organisation transformation : a research agenda

Faced with the need for strategic change, structural and cultural realignment, innovation and value-adding, many public sector organisations are tapping into a wider senior leadership talent pool and attracting successful leaders from other sectors (Flynn and Thompson, 2009). Leadership renewal has resulted, in some cases, in the external recruitment of whole senior leadership teams (Hockridge, 2008), raising issues about the influence of context on leader success (Pawar and Eastman, 1997) and potential leader transition failure, a costly outcome for leaders and organisations (Howard, 2001). There is little research on inter-sector leader transitions, which is surprising given the significant costs associated with leader acquisition and failure(Conger, 2010; Day and Halpin, 2004). For example, it is not clear what organizations do (or do not do) to ensure the outcomes of their significant investment in inter sector transitions are realised. In addition, it is not clear how the individual leader manages the challenging transition into a new leadership context and how their approach to leadership facilitates or inhibits successful transition (Avolio, 2010). Leader assimilation programs have been developed to assimilate new leaders (Manderscheid, 2008); however, assimilation is not necessarily a desired organisational outcome (Denis and Pineault, 2000). In this paper we critically review the limited literature on inter-sector leader transitions and transformational change outcomes and argue for a mutual accommodation approach. We draw on our own initial empirical work to propose the elements of a program for achieving this outcome from the perspective of the public organisation and the inter-sector appointee.

Executive coaching : investigating effects of leader-empowering behaviours and psychological empowerment

Executive coaching is a rapidly expanding approach to leadership development which has grown at a rate that warrants extensive examination of its effects (Wasylyshyn, 2003). This thesis has therefore examined both behavioural and psychological effects based on a nine month executive coaching intervention within a large not-for-profit organisation. The intervention was a part of a larger ongoing integrated organisational strategy to create an organisational coaching culture. In order to examine the effectiveness of the nine month executive coaching intervention two studies were conducted. A quantitative study used a pre and post questionnaire to examine leaders and their team members‘ responses before and after the coaching intervention. The research examined leader-empowering behaviours, psychological empowerment, job satisfaction and affective commitment. Significant results were demonstrated from leaders‘ self-reports on leader-empowering behaviours and their team members‘ self-reports revealed a significant flow on effect of psychological empowerment. The second part of the investigation involved a qualitative study which explored the developmental nature of psychological empowerment through executive coaching. The examination dissected psychological empowerment into its widely accepted four facets of meaning, impact, competency and self-determination and investigated, through semi-structured interviews, leaders‘ perspectives of the effect of executive coaching upon them (Spreitzer, 1992). It was discovered that a number of the common practices within executive coaching, including goal-setting, accountability and action-reflection, contributed to the production of outcomes that developed higher levels of psychological empowerment. Careful attention was also given to organisational context and its influence upon the outcomes.

Beam steering with high front-to-back ratio and high directivity on small platforms using decoupled antenna pairs

Beam steering with high front-to-back ratio and high directivity on a small platform is proposed. Two closely spaced antenna pairs with eigenmode port decoupling are used as the basic radiating elements. Two orthogonal radiation patterns are obtained for each antenna pair. High front-to-back ratio and high directivity are achieved by combining the two orthogonal radiation patterns. With an infinite groundplane, a front-to-back ratio of 21 dB with a directivity of 9.8 dB can be achieved. Beam steering, at the expense of a slight decrease in directivity, is achieved by placing the two antenna pairs 0.5λ apart. The simulated half power beamwidth is 58°. A prototype was designed and the 2-D radiation patterns were measured. The prototype supports three directions of beam steering. The half power beamwidth was measured as 46°, 48°, and 50° for the three respective beam directions. The measured front-to-back ratio in azimuth plane is 8.5 dB, 8.0 dB and 7.6 dB, respectively.

David F. Treagust : congenial soul, science educator, and international research leader

For almost a half century David F. Treafust has been an exemplary science educator who has contributed through his dedication and commitments to students, curriculum development and collaboration with teachers, and cutting edge research in science education that has impacted the field globally, nationally and locally. A hallmark of his outstanding career is his collaborative style that inspires others to produce their best work.

Person-environment fit: project leader-stakeholder relationships in a complex project environment

In this paper, we develop a conceptual model to explore the perceived complementary congruence between complex project leaders and the demands of the complex project environment to understand how leaders’ affective and behavioural performance at work might be impacted by this fit. We propose that complex project leaders high in emotional intelligence and cognitive flexibility should report a higher level of fit between themselves and the complex project environment. This abilities-demands measure of fit should then relate to affective and behavioural performance outcomes, such that leaders who perceive a higher level of fit should establish and maintain more effective, higher quality project stakeholder relationships than leaders who perceive a lower level of fit.

Confucius as transformational leader : lessons for ESL Leadership

Purpose - This paper explores the leadership values and practices of Confucius in the light of transformational leadership theory. Design/methodology/approach - This paper is literature based. Findings - The paper discusses four key dimensions of transformational leadership theory: idealised influence, inspirational motivation, intellectual stimulation and individualized consideration and uses these as a framework for exploring the values of and teaching approach used by Confucius. The key message of the paper is that educational leaders have much to learn from a Confucian leadership style that is fundamentally transformational in nature and encompasses moral / ethical, socially critical, and democratic dimensions. Practical implications - The paper presents a case study of an English as a Second Language (ESL) School and identifies several practical suggestions for ESL leaders to consider if they are to follow the tenets of Confucius’ teachings. Originality/value - The paper is original as it links the values and practices of Confucius to transformational leadership theory and considers how this theory might look in practice for leaders within a contemporary ESL school context.

The influence of motorcyclist behavior in crash involvement

Introduction: In Singapore, motorcycle crashes account for 50% of traffic fatalities and 53% of injuries. While extensive research efforts have been devoted to improve the motorcycle safety, the relationship between the rider behavior and the crash risk is still not well understood. The objective of this study is to evaluate how behavioral factors influence crash risk and to identify the most vulnerable group of motorcyclists. Methods: To explore the rider behavior, a 61-item questionnaire examining sensation seeking (Zuckerman et al., 1978), impulsiveness (Eysenck et al., 1985), aggressiveness (Buss & Perry, 1992), and risk-taking behavior (Weber et al., 2002) was developed. A total of 240 respondents with at least one year riding experience form the sample that relate behavior to their crash history, traffic penalty awareness, and demographic characteristics. By clustering the crash risk using the medoid portioning algorithm, the log-linear model relating the rider behavior to crash risk was developed. Results and Discussions: Crash-involved motorcyclists scored higher in impulsive sensation seeking, aggression and risk-taking behavior. Aggressive and high risk-taking motorcyclists were respectively 1.30 and 2.21 times more likely to fall under the high crash involvement group while impulsive sensation seeking was not found to be significant. Based on the scores on risk-taking and aggression, the motorcyclists were clustered into four distinct personality combinations namely, extrovert (aggressive, impulsive risk-takers), leader (cautious, aggressive risk-takers), follower (agreeable, ignorant risk-takers), and introvert (self-consciousness, fainthearted risk-takers). “Extrovert” motorcyclists were most prone to crashes, being 3.34 times more likely to involve in crash and 8.29 times more vulnerable than the “introvert”. Mediating factors like demographic characteristics, riding experience, and traffic penalty awareness were found not to be significant in reducing crash risk. Conclusion: The findings of this study will be useful for road safety campaign planners to be more focused in the target group as well as those who employ motorcyclists for their delivery business.

The effects of lane-changing on the immediate follower : anticipation, relaxation, and change in driver characteristics

This paper investigates the effects of lane-changing in driver behavior by measuring (i) the induced transient behavior and (ii) the change in driver characteristics, i.e., changes in driver response time and minimum spacing. We find that the transition largely consists of a pre-insertion transition and a relaxation process. These two processes are different but can be reasonably captured with a single model. The findings also suggest that lane-changing induces a regressive effect on driver characteristics: a timid driver (characterized by larger response time and minimum spacing) tends to become less timid and an aggressive driver less aggressive. We offer an extension to Newell’s car-following model to describe this regressive effect and verify it using vehicle trajectory data.

36 million language pairs

This article provides an overview on some of the key aspects that relate to the co-evolution of languages and its associated content in the Internet environment. A focus on such a co-evolution is pertinent as the evolution of languages in the Internet environment can be better understood if the development of its existing and emerging content, that is, the content in the respective language, is taken into consideration. By doing so, this article examines two related aspects: the governance of languages at critical sites of the Internet environment, including ICANN, Wikipedia and Google Translate. Following on from this examination, the second part outlines how the co-evolution of languages and associated content in the Internet environment extends policy-making related to linguistic pluralism. It is argued that policies which centre on language availability in the Internet environment must shift their focus to the dynamics of available content instead. The notion of language pairs as a new regime of intersection for both languages and content is discussed to introduce an extended understanding of the uses of linguistic pluralism in the Internet environment. The ultimate extrapolation of such an enhanced approach, it is argued, centres less on 6,000 languages but, instead, on 36 million language pairs. This article describes how such a powerful resource evolves in the Internet environment.

Gender and Leader Effects in the 2010 Australian Election

The impact of voters’ gender on leader evaluations in parliamentary systems has been largely unexplored, while the impact of female leaders on voter attitudes and preferences remains to be fully established. This paper uses Julia Gillard’s historic candidacy in the 2010 Australian federal election to explore how voters evaluated Australia’s first female prime minister, and to test the impact of their assessments on vote choice. The authors also examine whether Gillard’s high-profile candidacy affected women’s levels of political interest, awareness and engagement in what had been largely a ‘man’s game’. Their findings confirm that Gillard enjoyed a gender-affinity effect in 2010 in terms of both leader evaluations and vote choice, and women’s political engagement was significantly affected by the Gillard candidacy.