The direction of media influence: Real-estate news and the stock market

This paper uses a novel identification strategy to test the influence of news media on the stock market. Because the stock market does not impact the media coverage of the housing market, a relationship between real-estate news and shares of companies engaged in the housing market is attributable media influence. I find that the content of reporting exhibits a significant relationship with stock returns, and the amount of news with the number of trades. These relationships exist even after controlling for known risk factors, housing market performance and intra-week correlation. This finding is consistent with the function of the media as a source of information and sentiment in financial markets.

Sustainable non-automotive vehicles: The simulation challenges

Simulation is a well-established and effective approach to the development of fuel-efficient and low-emissions vehicles in both on-highway and off-highway applications.

The simulation of on-highway automotive vehicles is widely reported in literature, whereas research relating to non-automotive and off-highway vehicles is relatively sparse. This review paper focuses on the challenges of simulating such vehicles and discusses the differences in the approach to drive cycle testing and experimental validation of vehicle simulations. In particular, an inner-city diesel-electric hybrid bus and an ICE (Internal Combustion Engine) powered forklift truck will be used as case studies.

Computer prediction of fuel consumption and emissions of automotive vehicles on standardised drive cycles is well-established and commercial software packages such as AVL CRUISE have been specifically developed for this purpose. The vehicles considered in this review paper present new challenges from both the simulation and drive-cycle testing perspectives. For example, in the case of the forklift truck, the drive cycles involve reversing elements, variable mass, lifting operations, and do not specify a precise velocity-time profile. In particular, the difficulties associated with the prediction of productivity, i.e. the maximum rate of completing a series of defined operations, are discussed. In the case of the hybrid bus, the standardised drive cycles are unrepresentative of real-life use and alternative approaches are required in the development of efficient and low-emission vehicles.

Two simulation approaches are reviewed: the adaptation of a standard automotive vehicle simulation package, and the development of bespoke models using packages such as MATLAB/Simulink.

Similarity or Variation? Employee Representation and Consultation Approaches Amongst Liberal Market Economy Multinationals

This paper engages with the varieties of capitalism literature to investigate the employee representation and consultation approaches of liberal market economy multinational companies (MNCs), specifically Australian, British and US MNCs operating in Australia. While the literature would suggest commonality amongst these MNCs, the paper considers whether the evidence points to similarity or variation amongst liberal market headquartered MNCs. The findings contribute to filling a recognized empirical gap on MNC employment relations practice in Australia and to a better understanding of within category varieties of capitalism similarity and variation. Drawing on survey data from MNCs operating in Australia, the results demonstrated that UK-owned MNCs were the least likely to report collective structures of employee representation. Moreover, it was found that Australian MNCs were the most likely to engage in collective forms of employee representation and made less use of direct consultative mechanisms relative to their British and US counterparts. In spite of the concerted individualization of the employment relations domain over previous decades, Australian MNCs appear to have upheld more long-standing national institutional arrangements with respect to engaging with employees on a collective basis. This varies from British and US MNC approaches which denotes that our results display within category deviation in the variety of capitalism liberal market economy typology. Just as Hall and Soskice described their seminal work on liberal market economy (LME) and coordinated market economy (CME) categories as a “work-in-progress” (2001: 2), we too suggest that Australia’s evolution in the LME category, and more specifically its industrial relations system development, and the consequences for employment relations practices of its domestic MNCs, may be a work-in-progress.

Future of the transdermal drug delivery market – have we barely touched the surface?

Introduction: Transdermal drug delivery is themovement of drugs across the skin for absorption into the systemic circulation. Transfer of the drug can occur via passive or active means; passive trans- dermal products donot disrupt the stratumcorneumto facilitate deliverywhereas active technologies do. Due to the very specific physicochemical properties necessary for successful passive transdermal drug delivery, this sector of the pharmaceutical industry is relatively small. There are many well-documented benefits of this delivery route however, and as a result there is great interest in increasing the number of therapeutic substances that can be delivered transdermally. Areas Covered: This review discusses the various transdermal products that are currently/have been marketed, and the paths that led to their success, or lack of. Both passive and active transdermal technologies are considered with the advantages and limitations of each high- lighted. In addition to marketed products, technologies that are in the investigative stages by various pharmaceutical companies are reviewed. Expert Opinion: Passive transdermal drug delivery has made limited progress in recent years, however with the ongoing intense research into active technologies, there is great potential for growth within the transdermal delivery market. A number of active technologies have already been translated into marketed products, with other platforms including microneedles, rapidly progressing towards commercialisation.

Novel hardware and software combination for automotive motorsport vehicles based on direct processing of graphical functions

The main motivation for the work presented here began with previously conducted experiments with a programming concept at the time named "Macro". These experiments led to the conviction that it would be possible to build a system of engine control from scratch, which could eliminate many of the current problems of engine management systems in a direct and intrinsic way. It was also hoped that it would minimize the full range of software and hardware needed to make a final and fully functional system. Initially, this paper proposes to make a comprehensive survey of the state of the art in the specific area of software and corresponding hardware of automotive tools and automotive ECUs. Problems arising from such software will be identified, and it will be clear that practically all of these problems stem directly or indirectly from the fact that we continue to make comprehensive use of extremely long and complex "tool chains". Similarly, in the hardware, it will be argued that the problems stem from the extreme complexity and inter-dependency inside processor architectures. The conclusions are presented through an extensive list of "pitfalls" which will be thoroughly enumerated, identified and characterized. Solutions will also be proposed for the various current issues and for the implementation of these same solutions. All this final work will be part of a "proof-of-concept" system called "ECU2010". The central element of this system is the before mentioned "Macro" concept, which is an graphical block representing one of many operations required in a automotive system having arithmetic, logic, filtering, integration, multiplexing functions among others. The end result of the proposed work is a single tool, fully integrated, enabling the development and management of the entire system in one simple visual interface. Part of the presented result relies on a hardware platform fully adapted to the software, as well as enabling high flexibility and scalability in addition to using exactly the same technology for ECU, data logger and peripherals alike. Current systems rely on a mostly evolutionary path, only allowing online calibration of parameters, but never the online alteration of their own automotive functionality algorithms. By contrast, the system developed and described in this thesis had the advantage of following a "clean-slate" approach, whereby everything could be rethought globally. In the end, out of all the system characteristics, "LIVE-Prototyping" is the most relevant feature, allowing the adjustment of automotive algorithms (eg. Injection, ignition, lambda control, etc.) 100% online, keeping the engine constantly working, without ever having to stop or reboot to make such changes. This consequently eliminates any "turnaround delay" typically present in current automotive systems, thereby enhancing the efficiency and handling of such systems.

Aplicação de modelos de informação condicionada na avaliação do desempenho de fundos de investimento mobiliário em Portugal: a selectividade e o market timing (análise diária vs. análise mensal

Dissertação de mest., Finanças Empresariais, Faculdade de Economia, Univ. do Algarve, 2010