An examination of the complementary volume–volatility information theories

The volume–volatility relationship during the dissemination stages of information flow is examined by analyzing various theories relating volume and volatility as complementary rather than competing models. The mixture of distributions hypothesis, sequential arrival of information hypothesis, the dispersion of beliefs hypothesis, and the noise trader hypothesis all add to the understanding of how volume and volatility interact for different types of futures traders. An integrated picture of the volume–volatility relationship is provided by investigating the dynamic linear and nonlinear associations between volatility and the volume of informed (institutional) and uninformed (the general public) traders. In particular, the trading behavior explanation for the persistence of futures volatility, the effect of the timing of private information arrival, and the response of institutional traders to excess noise trading risk is examined

An Examination of the factors that shape the subjectivities of female art students in Initial Teacher Training

The school subject of Art and the profession of the primary school teacher are gendered female and both are considered low status within the field of Education and other professional areas of society. A number of sociological studies have examined the impact of gendered socialisation and habitus on females’ career choices and various educational initiatives have been put in place over the years to encourage females to select subjects and/or pursue career paths normally associated with males. Yet Art and primary school teaching continue to be a popular choice with middle class girls. Based on a critical ethnographic study of female BAED Art students, who are training to be primary school teachers, this study is an examination of the many factors, historically and contemporaneously that have shaped and continue to shape the subjectivities of females and frame their aspirations and ambitions. Within this discourse significant aspects of the history of Art and Art Education that have contributed to and influenced the construction of the female artist, and their consequent impact on artistically talented females’ personal identity as artists, are also examined.

Corporate responsibility, supply chain partnership and performance: An empirical examination

Unlike corporate and business levels, there is little research examining corporate responsibility (CR) at the functional level of the firm including supply chain strategy. The results of a firm-level survey show that CR internal awareness, and monitoring CR performance are positively related to the supply chain partnership approach, however sharing CR best practices is negatively associated. Furthermore, the impact of CR on firm performance is mediated by the functional behaviour of supply chain partnership formation. Our study provides support for including CR awareness building and monitoring in the development of partnerships but cautions against imposing CR best practices on suppliers.

Aerosols implicated as a prime driver of twentieth-century North Atlantic climate variability

Systematic climate shifts have been linked to multidecadal variability in observed sea surface temperatures in the North Atlantic Ocean1. These links are extensive, influencing a range of climate processes such as hurricane activity2 and African Sahel3, 4, 5 and Amazonian5 droughts. The variability is distinct from historical global-mean temperature changes and is commonly attributed to natural ocean oscillations6, 7, 8, 9, 10. A number of studies have provided evidence that aerosols can influence long-term changes in sea surface temperatures11, 12, but climate models have so far failed to reproduce these interactions6, 9 and the role of aerosols in decadal variability remains unclear. Here we use a state-of-the-art Earth system climate model to show that aerosol emissions and periods of volcanic activity explain 76 per cent of the simulated multidecadal variance in detrended 1860–2005 North Atlantic sea surface temperatures. After 1950, simulated variability is within observational estimates; our estimates for 1910–1940 capture twice the warming of previous generation models but do not explain the entire observed trend. Other processes, such as ocean circulation, may also have contributed to variability in the early twentieth century. Mechanistically, we find that inclusion of aerosol–cloud microphysical effects, which were included in few previous multimodel ensembles, dominates the magnitude (80 per cent) and the spatial pattern of the total surface aerosol forcing in the North Atlantic. Our findings suggest that anthropogenic aerosol emissions influenced a range of societally important historical climate events such as peaks in hurricane activity and Sahel drought. Decadal-scale model predictions of regional Atlantic climate will probably be improved by incorporating aerosol–cloud microphysical interactions and estimates of future concentrations of aerosols, emissions of which are directly addressable by policy actions.

Stable isotope and modelling evidence for CO2 as a driver of glacial–interglacial vegetation shifts in southern Africa

Atmospheric CO2 concentration is hypothesized to influence vegetation distribution via tree–grass competition, with higher CO2 concentrations favouring trees. The stable carbon isotope (δ13C) signature of vegetation is influenced by the relative importance of C4 plants (including most tropical grasses) and C3 plants (including nearly all trees), and the degree of stomatal closure – a response to aridity – in C3 plants. Compound-specific δ13C analyses of leaf-wax biomarkers in sediment cores of an offshore South Atlantic transect are used here as a record of vegetation changes in subequatorial Africa. These data suggest a large increase in C3 relative to C4 plant dominance after the Last Glacial Maximum. Using a process-based biogeography model that explicitly simulates 13C discrimination, it is shown that precipitation and temperature changes cannot explain the observed shift in δ13C values. The physiological effect of increasing CO2 concentration is decisive, altering the C3/C4 balance and bringing the simulated and observed δ13C values into line. It is concluded that CO2 concentration itself was a key agent of vegetation change in tropical southern Africa during the last glacial–interglacial transition. Two additional inferences follow. First, long-term variations in terrestrial δ13Cvalues are not simply a proxy for regional rainfall, as has sometimes been assumed. Although precipitation and temperature changes have had major effects on vegetation in many regions of the world during the period between the Last Glacial Maximum and recent times, CO2 effects must also be taken into account, especially when reconstructing changes in climate between glacial and interglacial states. Second, rising CO2 concentration today is likely to be influencing tree–grass competition in a similar way, and thus contributing to the "woody thickening" observed in savannas worldwide. This second inference points to the importance of experiments to determine how vegetation composition in savannas is likely to be influenced by the continuing rise of CO2 concentration.

Examination of wind storms over Central Europe with respect to circulation weather types and NAO phases

The occurrence of wind storms in Central Europe is investigated with respect to large-scale atmospheric flow and local wind speeds in the investigation area. Two different methods of storm identification are applied for Central Europe as the target region: one based on characteristics of large-scale flow (circulation weather types, CWT) and the other on the occurrence of extreme wind speeds. The identified events are examined with respect to the NAO phases and CWTs under which they occur. Pressure patterns, wind speeds and cyclone tracks are investigated for storms assigned to different CWTs. Investigations are based on ERA40 reanalysis data. It is shown that about 80% of the storm days in Central Europe are connected with westerly flow and that Central European storm events primarily occur during a moderately positive NAO phase, while strongly positive NAO phases (6.4% of all days) account for more than 20% of the storms. A storm occurs over Central Europe during about 10% of the days with a strong positive NAO index. The most frequent pathway of cyclone systems associated with storms over Central Europe leads from the North Atlantic over the British Isles, North Sea and southern Scandinavia into the Baltic Sea. The mean intensity of the systems typically reaches its maximum near the British Isles. Differences between the characteristics for storms identified from the CWT identification procedure (gale days, based on MSLP fields) and those from extreme winds at Central European grid points are small, even though only 70% of the storm days agree. While most storms occur during westerly flow situations, specific characteristics of storms during the other CWTs are also considered. Copyright © 2009 Royal Meteorological Society

A cross-cultural examination of the psychometric properties of responses to the Achievement Goal Questionnaire

The psychometric properties of scores from the Achievement Goal Questionnaire were examined in samples of Japanese (N = 326) and Canadian (N = 307) post secondary students. Previous research found evidence of a four-factor structure of achievement goals in U.S. samples. Using confirmatory factor-analytic techniques, the authors found strong evidence for the four-factor structure of achievement goals in both the Canadian and Japanese populations. Subsequent multi group structural equation modeling indicated the metric invariance of this four-factor structure across the two populations.