Interactive data in financial reporting:the construction of the non-professional investor

The Securities and Exchange Commission (SEC) in the United States and in particular its immediately past chairman, Christopher Cox, has been actively promoting an upgrade of the EDGAR system of disseminating filings. The new generation of information provision has been dubbed by Chairman Cox, "Interactive Data" (SEC, 2006). In October this year the Office of Interactive Disclosure was created(http://www.sec.gov/news/press/2007/2007-213.htm). The focus of this paper is to examine the way in which the non-professional investor has been constructed by various actors. We examine the manner in which Interactive Data has been sold as the panacea for financial market 'irregularities' by the SEC and others. The academic literature shows almost no evidence of researching non-professional investors in any real sense (Young, 2006). Both this literature and the behaviour of representatives of institutions such as the SEC and FSA appears to find it convenient to construct this class of investor in a particular form and to speak for them. We theorise the activities of the SEC and its chairman in particular over a period of about three years, both following and prior to the 'credit crunch'. Our approach is to examine a selection of the policy documents released by the SEC and other interested parties and the statements made by some of the policy makers and regulators central to the programme to advance the socio-technical project that is constituted by Interactive Data. We adopt insights from ANT and more particularly the sociology of translation (Callon, 1986; Latour, 1987, 2005; Law, 1996, 2002; Law & Singleton, 2005) to show how individuals and regulators have acted as spokespersons for this malleable class of investor. We theorise the processes of accountability to investors and others and in so doing reveal the regulatory bodies taking the regulated for granted. The possible implications of technological developments in digital reporting have been identified also by the CEO's of the six biggest audit firms in a discussion document on the role of accounting information and audit in the future of global capital markets (DiPiazza et al., 2006). The potential for digital reporting enabled through XBRL to "revolutionize the entire company reporting model" (p.16) is discussed and they conclude that the new model "should be driven by the wants of investors and other users of company information,..." (p.17; emphasis in the original). Here rather than examine the somewhat illusive and vexing question of whether adding interactive functionality to 'traditional' reports can achieve the benefits claimed for nonprofessional investors we wish to consider the rhetorical and discursive moves in which the SEC and others have engaged to present such developments as providing clearer reporting and accountability standards and serving the interests of this constructed and largely unknown group - the non-professional investor.

Innovation, networking and globalisation:the role of regional innovation systems in the global innovation process

In the global economy, innovation is one of the most important competitive assets for companies willing to compete in international markets. As competition moves from standardised products to customised ones, depending on each specific market needs, economies of scale are not anymore the only winning strategy. Innovation requires firms to establish processes to acquire and absorb new knowledge, leading to the recent theory of Open Innovation. Knowledge sharing and acquisition happens when firms are embedded in networks with other firms, university, institutions and many other economic actors. Several typologies of innovation and firm networks have been identified, with various geographical spans. One of the first being modelled was the Industrial Cluster (or in Italian Distretto Industriale) which was for long considered the benchmark for innovation and economic development. Other kind of networks have been modelled since the late 1970s; Regional Innovation Systems represent one of the latest and more diffuse model of innovation networks, specifically introduced to combine local networks and the global economy. This model was qualitatively exploited since its introduction, but, together with National Innovation Systems, is among the most inspiring for policy makers and is often cited by them, not always properly. The aim of this research is to setup an econometric model describing Regional Innovation Systems, becoming one the first attempts to test and enhance this theory with a quantitative approach. A dataset of 104 secondary and primary data from European regions was built in order to run a multiple linear regression, testing if Regional Innovation Systems are really correlated to regional innovation and regional innovation in cooperation with foreign partners. Furthermore, an exploratory multiple linear regression was performed to verify which variables, among those describing a Regional Innovation Systems, are the most significant for innovating, alone or with foreign partners. Furthermore, the effectiveness of present innovation policies has been tested based on the findings of the econometric model. The developed model confirmed the role of Regional Innovation Systems for creating innovation even in cooperation with international partners: this represents one of the firsts quantitative confirmation of a theory previously based on qualitative models only. Furthermore the results of this model confirmed a minor influence of National Innovation Systems: comparing the analysis of existing innovation policies, both at regional and national level, to our findings, emerged the need for potential a pivotal change in the direction currently followed by policy makers. Last, while confirming the role of the presence a learning environment in a region and the catalyst role of regional administration, this research offers a potential new perspective for the whole private sector in creating a Regional Innovation System.

Detection and direction-discrimination of diotic and dichotic ramp modulations in amplitude and phase

When the source of a tone moves with respect to a listener's ears, dichotic (or interaural) phase and amplitude modulations (PM and AM) are produced. Two experiments investigated the psychophysical characteristics of dichotic linear ramp modulations in phase and amplitude, and compared them with the psychophysics of diotic PM and AM. In experiment 1, subjects were substantially more sensitive to dichotic PM than diotic PM, but AM sensitivity was equivalent in the dichotic and diotic conditions. Thresholds for discriminating modulation direction were smaller than detection thresholds for dichotic AM, and both diotic AM and PM. Dichotic PM discrimination thresholds were similar to detection thresholds. In experiment 2, the effects of ramp duration were examined. Sensitivity to dichotic AM and PM, and diotic AM increased as duration was increased from 20 ms to 200 ms. The functions relating sensitivity to ramp duration differed across the stimuli; sensitivity to dichotic PM increased more rapidly than sensitivity to dichotic or diotic AM. This was also reflected in shorter time-constants and minimum integration times for dichotic PM detection. These findings support the hypothesis that the analysis of dichotic PM and AM rely on separate mechanisms. © 2003 Acoustical Society of America.

Who is really in charge of contemporary education? People and technologies in, against and beyond the neoliberal university

This article reflects on the position of people in, against and beyond information and communication technologies. Firstly, using Jandrić and Kuzmanić’s work on digital postcolonialism, Raymond Williams's work on residual and emergent cultures, and Deleuze and Guattari's insights into the dynamics between territorialization, de-territorialization and re-territorialization, it develops a theoretical framework for inquiry into the hybrid identity of the contemporary university. Then, through critical discourse analysis (CDA), the article moves on to analyse the ways in which technology discourse resides in the dominating ideology of technological determinism and co-opts with neoliberal agendas by omitting humans from explicit mention in UK policy documents. It shows that true counter-hegemonic practice against dominating social practices is possible only through reinvigorating the central position of human beings in regards to information and communication technologies. Within the developed theoretical framework, it seeks openings to intervene subversively into current relationships between technologies, people, and (higher) education, and to identify opportunities for building a non-determinist identity of the contemporary university that reaches beyond the single-minded logic of techno-scientific development. In the process, it situates Paulo Freire's insights into critical pedagogy in the context of the network society, and places the relationships between human beings, language and information and communication technologies amongst central questions of today's (higher) education and society at large.

Time-spatial drift of decelerating electromagnetic pulses

A time dependent electromagnetic pulse generated by a current running laterally to the direction of the pulse propagation is considered in paraxial approximation. It is shown that the pulse envelope moves in the time-spatial coordinates on the surface of a parabolic cylinder for the Airy pulse and a hyperbolic cylinder for the Gaussian. These pulses propagate in time with deceleration along the dominant propagation direction and drift uniformly in the lateral direction. The Airy pulse stops at infinity while the asymptotic velocity of the Gaussian is nonzero. © 2013 Optical Society of America.

'In reality it's almost impossible':CLT-oriented curriculum change

Curriculum innovation is challenging and, as several commentators have reported, moves to introduce communicative language teaching in many contexts internationally have resulted in mixed outcomes, or even failure. In an effort to shed some light on this complex problem, this article focuses on curriculum change through the introduction of new communicative textbooks in an engineering college (kosen) in Japan. First, three key factors that inhibit change are considered and then other factors that specifically hindered change in the kosen environment are identified. A study investigating the attitudes and classroom practices of four Japanese teachers of English highlighted a culture of pedagogical uncertainty and lack of professional support. Suggestions for supporting teachers to implement curriculum change more effectively, both in Japan and elsewhere, are drawn out.

The challenges of representing human behaviour in simulation models:some case examples from supply chain, evacuation modelling and rail disruption

As more of the economy moves from traditional manufacturing to the service sector, the nature of work is becoming less tangible and thus, the representation of human behaviour in models is becoming more important. Representing human behaviour and decision making in models is challenging, both in terms of capturing the essence of the processes, and also the way that those behaviours and decisions are or can be represented in the models themselves. In order to advance understanding in this area, a useful first step is to evaluate and start to classify the various types of behaviour and decision making that are required to be modelled. This talk will attempt to set out and provide an initial classification of the different types of behaviour and decision making that a modeller might want to represent in a model. Then, it will be useful to start to assess the main methods of simulation in terms of their capability in representing these various aspects. The three main simulation methods, System Dynamics, Agent Based Modelling and Discrete Event Simulation all achieve this to varying degrees. There is some evidence that all three methods can, within limits, represent the key aspects of the system being modelled. The three simulation approaches are then assessed for their suitability in modelling these various aspects. Illustration of behavioural modelling will be provided from cases in supply chain management, evacuation modelling and rail disruption.

Children, health and well-being:policy debates and lived experiences

This book brings together new and leading scholars, who demonstrate the importance of research with children and from a child perspective, allowing for a fuller understanding of the meaning and impact of health and illness in children’s lives. •Demonstrates the importance of research with children and research from a child perspective, in order to fully understand the meaning and impact of health and illness in children’s lives •Encourages critical reflection on contemporary health policy and its relationships to culturally specific ways of knowing and understanding children’s health •Brings together new and leading scholars in the field of children’s health and illness •Moves the highly important issue of children’s health into the mainstream sociology of health and illness

The Kim Dynasty and North-East Asian security:breaking the cycle of crises?

Purpose—This article considers North Korea and the notion of crisis, by linking historical development over the Korean peninsula to the conflict resolution literature, and investigates why despite a large number of destabilizing events, a war involving Pyongyang has yet to erupt. Design/methodology—This article uses historical data and a framework developed by Aggarwal et al., in order to highlight patterns of interaction between states such as the United States, North Korea and South Korea, organizations such as the United Nations, as well as processes such as the Six- Party Talks and the Agreed Framework. The article then develops a crisis framework based on conflict resolution and negotiation literature, and applies it to three North Korean administrations. Findings—Findings suggest that an open- ended understanding of time (for all parties involved on the peninsula) leads to an impossibility to reach a threshold where full- scale war would be triggered, thus leaving parties in a stable state of crisis for which escalating moves and de- escalating techniques might become irrelevant. Practical implications—It is hoped that this article will help further endeavors linking conflict resolution theoretical frameworks to the Korean peninsula security situation. In the case of the Korean peninsula, time has been understood as open-ended, leading parties to a lingering state of heightened hostilities that oscillates toward war, but that is controlled enough not to reach it. In-depth analysis of particular security sectors such as nuclear energy, food security, or missile testing would prove particularly useful in understanding the complexity of the Korean peninsula situation to a greater extent. It is hoped that this paper will help further endeavours linking conflict resolution theoretical frameworks to the Korean peninsula security situation. Originality/value—This research suggests that regarding the Korean peninsula, time has been understood as open- ended, leading parties to a lingering state of heightened.

The Kim Dynasty and North-East Asian security:breaking the cycle of crises

This article considers North Korea and the notion of crisis, by linking historical development over the Korean peninsula to the conflict resolution literature, and investigates why despite a large number of destabilising events, a war involving Pyongyang has yet to erupt. The paper considers historical data and uses a framework developed by Aggarwal et al. in order to highlight patterns of interaction between states such as the United States, North Korea and South Korea, organisations such as the United Nations, as well as processes such as the Six-Party Talk and the Agreed Framework. The paper then develops a crisis framework based on conflict resolution and negotiation literature, and applies it to three North Korean administrations. Findings suggests that an elastic understanding of time (for all parties involved on the peninsula) leads to an impossibility to reach a threshold where full-scale war would be triggered, thus leaving parties in a stable state of crisis for which escalating moves and de-escalating techniques might become irrelevant.

Generation of drifting optical pulses

The radiation in the form of Airy and Gaussian optical pulses is investigated. It is shown that the pulse envelope moves decelerating in the time-spatial coordinates on the surface of a parabolic cylinder for the Airy pulse and a hyperbolic cylinder for the Gaussian. © 2013 IEEE.

Learner support and discovery in a virtual non-judgmental environment

This thesis is a qualitative case study that draws upon a grounded genre analysis approach situated within the social constructivist paradigm. The study describes the various obligatory, desired, and optional moves used by post-graduate students as they interacted within an online, non-judgmental environment in order to seek solutions to issues they were experiencing with their research projects or teaching. The postgraduate students or case participants met individually online with me at pre-arranged times to take part in Instant Messenger Cooperative Development (IMCD) (Boon, 2005) 30-minute to one hour sessions via the text-chat function of Skype. Participants took on the role of ‘Explorer’ in order to articulate their thoughts and ideas about their research. I took on the role of ‘Understander’ to provide support to each Explorer by reflecting my understanding of the ongoing articulations as the Explorers investigated their specific issues, determined possible ways to overcome them, made new discoveries, and formulated plans of action regarding the best way for them to move forward. The description of generic moves covers 32 IMCD sessions collected over a threeyear period (2009-2012) from 10 different participants (A-J). Data collected is drawn from live IMCD sessions, field notes, and post-session email feedback from participants. In particular, the thesis focuses on describing the specific generic moves of Explorers within IMCD sessions as they seek satisfactory resolutions to particular research or pedagogic puzzles. It also provides a detailed description of a longitudinal case (Participant A – four sessions), a one-session case (Participant B – one session), and an outlier case in which the Explorer underwent a negative IMCD experience. The thesis concludes by arguing that IMCD is a highly effective tool that helps facilitate the research process for both distance-learning and on-campus students and has the potential to be utilized across all disciplines at the tertiary level.

Making a difference:critical linguistic analysis in a legal context

One of the major problems for Critical Discourse Analysts is how to move on from their insightful critical analyses to successfully 'acting on the world in order to transform it'. This paper discusses, with detailed exemplification, some of the areas where linguists have moved beyond description to acting on and changing the world. Examples from three murder trials show how essential it is, in order to protect the rights of witnesses and defendants, to have audio records of significant interviews with police officers. The article moves on to discuss the potentially serious consequences of the many communicative problems inherent in legal/lay interaction and illustrates a few of the linguist-led improvements to important texts. Finally, the article turns to the problems of using linguistic data to try to determine the geographical origin of asylum seekers. The intention of the article is to act as a call to arms to linguists; it concludes with the observation that 'innumerable mountains remain for those with a critical linguistic perspective who would like to try to move one'. © 2011 John Benjamins Publishing Company.

Copyright law as a matter of (inter)national security? – The attempt to securitise commercial infringement and its spill-over onto individual liability

This article evaluates the way in which copyright infringement has been gradually shifting from an area of civil liability to one of criminal penalty. Traditionally, consideration of copyright issues has been undertaken from a predominantly legal and/or economic perspectives. Whereas traditional legal analysis can explain what legal changes are occurring, and what impact these changes may have, they may not effectively explain ‘how’ these changes have come to occur. The authors propose an alternative inter-disciplinary approach, combining legal analysis with critical security studies, which may help to explain in greater detail how policies in this field have developed. In particular, through applied securitisation theory, this article intends to demonstrate the appropriation of this field by a security discourse, and its consequences for societal and legal developments. In order to explore how the securitisation framework may be a valid approach to a subject such as copyright law and to determine the extent to which copyright law may be said to have been securitised, this article will begin by explaining the origins and main features of securitisation theory, and its applicability to legal study. The authors will then attempt to apply this framework to the development of a criminal law approach to copyright infringement, by focusing on the security escalation it has undergone, developing from an economic issue into one of international security. The analysis of this evolution will be mainly characterised by the securitisation moves taking place at national, European and international levels. Finally, a general reflection will be carried out on whether the securitisation of copyright has indeed been successful and on what the consequences of such a success could be.

Does timing of decisions in a mixed duopoly matter?

We determine the endogenous order of moves in a mixed pricesetting duopoly. In contrast to the existing literature on mixed oligopolies we establish the payo equivalence of the games with an exogenously given order of moves if the most plausible equilibrium is realized in the market. Hence, in this case it does not matter whether one becomes a leader or a follower. We also establish that replacing a private firm by a public firm in the standard Bertrand-Edgeworth game with capacity constraints increases social welfare and that a pure-strategy equilibrium always exists.