Law, Politics and Financial Development: The Great Reversal of the U.K. Corporate Debt Market

This article examines the role of creditor protection in the development of the U.K. corporate bond market. This market grew rapidly in the late nineteenth century, but in the twentieth century it experienced a reversal, albeit with a short-lived post-1945 renaissance. Such was the extent of the reversal that the market from the 1970s onwards was smaller than it had been in 1870. We find that law does not explain the variation in the size of this market over time. Alternatively, our evidence suggests that inflation and taxation policies were major drivers of this market in the post-1945 era. Copyright © The Economic History Association 2013

Corporate Social Responsibility within the Northern Ireland Construction Industry: A Regional Review

As the construction industry continues to struggle with a poor societal image, many organizations have adopted a positive corporate social responsibility (CSR) towards their surrounding environment, with the objective of improving their persona within social circles. The aim of this research is to identify and document the various approaches adopted by UK contractors in relation to their international counterparts to aid in the identification of possible future benefits which may be exploitable.
In order to acquire the relevant information, a number of qualitative methodologies are adopted including a review of the current literature on the topic along with a detailed semi-structured interview with a UK based industry professional that specializes in corporate social responsibility. Through assessing the findings using qualitative analysis software, it is possible to disseminate the information, resulting in the identification of key findings. This research concludes that a number of factors profoundly affect corporate social responsibility within the UK versus other regions. These factors are identified as the effect of the recession, implementation and reporting along with competitiveness within the sector.
The impaction for practice within the UK construction sector of this research is that it enables various industry leaders to actively consider the findings of the research while also vigorously encouraging the establishment and development of corporate social responsibility, not only within their respective organizations, but within the construction industry as a whole. This would not only result in a more environmentally sustainable industry, but would also raise the awareness of the sector locally, nationally and internationally, therefore improving the overall perception of the sector on a variety of levels. This will ultimately lead to a more sustainable, environmentally friendly and collective industry while also considering the needs of one of its most important external stakeholders – the local community.

An optimisation of Gaussian mixture models for integer processing units

This paper investigates sub-integer implementations of the adaptive Gaussian mixture model (GMM) for background/foreground segmentation to allow the deployment of the method on low cost/low power processors that lack Floating Point Unit (FPU). We propose two novel integer computer arithmetic techniques to update Gaussian parameters. Specifically, the mean value and the variance of each Gaussian are updated by a redefined and generalised "round'' operation that emulates the original updating rules for a large set of learning rates. Weights are represented by counters that are updated following stochastic rules to allow a wider range of learning rates and the weight trend is approximated by a line or a staircase. We demonstrate that the memory footprint and computational cost of GMM are significantly reduced, without significantly affecting the performance of background/foreground segmentation.

Corporate Mechanisms and the Presumption of Accountability

This paper seeks to draw out this focus on form in British public administration reform by focusing on the role that the idea of the corporate form has played in reform. Drawing on the codification of Foundation Trusts in the English NHS, I argue that, while accountability ought to be considered as a 'social space' in which conduct conducive to particular interests emerges, reformers tend to regard accountability as a function of appropriate procedures and forms. The turn to the corporate form relies on a hope that it will deliver various 'accountability' benefits will emerge. This hope, I argue, is misplaced

Voltage scalable high-speed robust hybrid arithmetic units using adaptive clocking

In this paper, we explore various arithmetic units for possible use in high-speed, high-yield ALUs operated at scaled supply voltage with adaptive clock stretching. We demonstrate that careful logic optimization of the existing arithmetic units (to create hybrid units) indeed make them further amenable to supply voltage scaling. Such hybrid units result from mixing right amount of fast arithmetic into the slower ones. Simulations on different hybrid adder and multipliers in BPTM 70 nm technology show 18%-50% improvements in power compared to standard adders with only 2%-8% increase in die-area at iso-yield. These optimized datapath units can be used to construct voltage scalable robust ALUs that can operate at high clock frequency with minimal performance degradation due to occasional clock stretching. © 2009 IEEE.

Low-Power Process-Variation Tolerant Arithmetic Units Using Input-Based Elastic Clocking

In this paper we propose a design methodology for low-power high-performance, process-variation tolerant architecture for arithmetic units. The novelty of our approach lies in the fact that possible delay failures due to process variations and/or voltage scaling are predicted in advance and addressed by employing an elastic clocking technique. The prediction mechanism exploits the dependence of delay of arithmetic units upon input data patterns and identifies specific inputs that activate the critical path. Under iso-yield conditions, the proposed design operates at a lower scaled down Vdd without any performance degradation, while it ensures a superlative yield under a design style employing nominal supply and transistor threshold voltage. Simulation results show power savings of upto 29%, energy per computation savings of upto 25.5% and yield enhancement of upto 11.1% compared to the conventional adders and multipliers implemented in the 70nm BPTM technology. We incorporated the proposed modules in the execution unit of a five stage DLX pipeline to measure performance using SPEC2000 benchmarks [9]. Maximum area and throughput penalty obtained were 10% and 3% respectively.

Corporate ownership and control in Victorian Britain

Using ownership and control data for 890 firm‐years, this article examines the concentration of capital and voting rights in British companies in the second half of the nineteenth century. We find that both capital and voting rights were diffuse by modern‐day standards. However, this does not necessarily mean that there was a modern‐style separation of ownership from control in Victorian Britain. One major implication of our findings is that diffuse ownership was present in the UK much earlier than previously thought, and given that it occurred in an era with weak shareholder protection law, it somewhat undermines the influential law and finance hypothesis. We also find that diffuse ownership is correlated with large boards, a London head office, non‐linear voting rights, and shares traded on multiple markets.