The organization of construction research in British universities

The paper provides details of the size and scope of construction research carried out in a number of architecture, civil engineering and building related departments in British universities. After considering the level of funding, the type of research projects undertaken and the resulting outputs, especially how these benefit industry, the paper focuses on the careers of academics and researchers and the way in which research is organized at university, departmental and team levels. Finally, the paper suggests that whilst the construction research community in universities has many strengths, there is a danger that in responding to recent opportunities it may overreach itself. The end result may be disappointing for all parties involved. Some of the factors which would contribute to an effective approach to the development of links between universities and industry are discussed.

Brand protection and the globalization of British business

In expanding on earlier analyses of the evolution of multinational business that have drawn from concepts of competition and innovation, this study examines the strategies used by British multinationals, between 1870 and 1929, to protect the global reputation of their brands, which were crucial to their survival and success. Even after the passage of new trademark legislation in 1876, enforcement of trademarks remained expensive, and often firms preferred to negotiate, rather than to prosecute violations. Many trademark imitators were based in the newly industrializing countries of the time—the United States, Germany, and Japan—and were part of the British export supply chains as licensees, franchisees, or wholesalers. British firms responded to infringements by lobbying governments, appointing local agents to provide intelligence, and collaborating with other firms.

The inflation hedging characteristics of US and UK investments: a multi-factor error correction approach

Historic analysis of the inflation hedging properties of stocks produced anomalous results, with equities often appearing to offer a perverse hedge against inflation. This has been attributed to the impact of real and monetary shocks to the economy, which influence both inflation and asset returns. It has been argued that real estate should provide a better hedge: however, empirical results have been mixed. This paper explores the relationship between commercial real estate returns (from both private and public markets) and economic, fiscal and monetary factors and inflation for US and UK markets. Comparative analysis of general equity and small capitalisation stock returns in both markets is carried out. Inflation is subdivided into expected and unexpected components using different estimation techniques. The analyses are undertaken using long-run error correction techniques. In the long-run, once real and monetary variables are included, asset returns are positively linked to anticipated inflation but not to inflation shocks. Adjustment processes are, however, gradual and not within period. Real estate returns, particularly direct market returns, exhibit characteristics that differ from equities.

The British Lower Palaeolithic of the early Middle Pleistocene

The archaeology of Britain during the early Middle Pleistocene (MIS 19–12) is represented by a number of key sites across eastern and southern England. These sites include Pakefield, Happisburgh 1, High Lodge, Warren Hill, Waverley Wood, Boxgrove, Kent's Cavern, and Westbury-sub-Mendip, alongside a ‘background scatter’ lithic record associated with the principal river systems (Bytham, pre-diversion Thames, and Solent) and raised beaches (Westbourne–Arundel). Hominin behaviour can be characterised in terms of: preferences for temperate or cool temperate climates and open/woodland mosaic habitats (indicated by mammalian fauna, mollusca, insects, and sediments); a biface-dominated material culture characterised by technological diversity, although with accompanying evidence for distinctive core and flake (Pakefield) and flake tool (High Lodge) assemblages; probable direct hunting-based subsistence strategies (with a focus upon large mammal fauna); and generally locally-focused spatial and landscape behaviours (principally indicated by raw material sources data), although with some evidence of dynamic, mobile and structured technological systems. The British data continues to support a ‘modified short chronology’ to the north of the Alps and the Pyrenees, with highly sporadic evidence for a hominin presence prior to 500–600 ka, although the ages of key assemblages are subject to ongoing debates regarding the chronology of the Bytham river terraces and the early Middle Pleistocene glaciations of East Anglia.