Occupational futures? Divesting real estate and corporate PFI

Property ownership can tie up large amounts of capital and management energy that business could employ more productively elsewhere. Competitive pressures, accounting changes and increasingly sophisticated occupier requirements are building demand for new and innovative ways to satisfy corporate occupation needs. The investment climate is also changing. Falling interest rates and falling inflation can be expected to undermine returns from the traditional FRI lease. In future, investment returns will be more dependent on active and innovative management geared to the needs of occupiers on whom income depends. Occupier and investor interests, therefore, look set to coincide, but unlocking the potential for both parties will depend on developing new finance and investment vehicles that align their respective needs. In the UK, examples include PFI in the public sector and off-balance sheet financing in the private sector. In the USA, “synthetic lease” structures have also become popular. Growing investment market experience in assessing risks and returns suggests scope for further innovative arrangements in the corporate sector. But how can such arrangements be structured? What are the risks, drivers and barriers?

MOOCs: a systematic study of the published literature 2008-2012

Massive open online courses (MOOCs) are a recent addition to the range of online learning options. Since 2008, MOOCs have been run by a variety of public and elite universities, especially in North America. Many academics have taken interest in MOOCs recognising the potential to deliver education around the globe on an unprecedented scale; some of these academics are taking a research-oriented perspective and academic papers describing their research are starting to appear in the traditional media of peer reviewed publications. This paper presents a systematic review of the published MOOC literature (2008-2012): Forty-five peer reviewed papers are identified through journals, database searches, searching the Web, and chaining from known sources to form the base for this review. We believe this is the first effort to systematically review literature relating to MOOCs, a fairly recent but massively popular phenomenon with a global reach. The review categorises the literature into eight different areas of interest, introductory, concept, case studies, educational theory, technology, participant focussed, provider focussed, and other, while also providing quantitative analysis of publications according to publication type, year of publication, and contributors. Future research directions guided by gaps in the literature are explored.

An investigation into the viability of LibraryThing for promotional and user engagement purposes in libraries

Structured abstract: Purpose: LibraryThing is a Web 2.0 tool allowing users to catalogue books using data drawn from sources such as Amazon and the Library of Congress and has facilities such as tagging and interest groups. This study evaluates whether LibraryThing is a valuable tool for libraries to use for promotional and user engagement purposes. Methodology: This study used a sequential mixed methods 3 phase design: (1) the identification of LibraryThing features for user engagement or promotional purposes, (2) exploratory semi-structured interviews (3) a questionnaire. Findings: Several uses of LibraryThing for promotional and user engagement purposes were identified. The most popular reason libraries used LibraryThing was to promote the library or library stock, with most respondents using it specifically to highlight collections of books. Monitoring of patron usage was low and many respondents had not received any feedback. LibraryThing was commonly reported as being easy to use, remotely accessible, and having low cost, whilst its main drawbacks were the 200 book limit for free accounts, and it being a third-party site. The majority of respondents felt LibraryThing was a useful tool for libraries. Practical implications: LibraryThing has most value as a promotional tool for libraries. Libraries should actively monitor patron usage of their LibraryThing account or request user feedback to ensure that LibraryThing provides a truly valuable service for their library. Orginality : There is little research on the value of LibraryThing for libraries, or librarians perceptions of LibraryThing as a Web 2.0 tool.

A comparison of tests of non-linear cointegration with an application to the predictability of US interest rates using the term structure

We test whether there are nonlinearities in the response of short- and long-term interest rates to the spread in interest rates, and assess the out-of-sample predictability of interest rates using linear and nonlinear models. We find strong evidence of nonlinearities in the response of interest rates to the spread. Nonlinearities are shown to result in more accurate short-horizon forecasts, especially of the spread.

Linkages between property asset returns and interest rates: evidence for the UK

This paper considers the effect of short- and long-term interest rates, and interest rate spreads upon real estate index returns in the UK. Using Johansen's vector autoregressive framework, it is found that the real estate index cointegrates with the term spread, but not with the short or long rates themselves. Granger causality tests indicate that movements in short term interest rates and the spread cause movements in the returns series. However, decomposition of the forecast error variances from VAR models indicate that changes in these variables can only explain a small proportion of the overall variability of the returns, and that the effect has fully worked through after two months. The results suggest that these financial variables could potentially be used as leading indicators for real estate markets, with corresponding implications for return predictability.

Within-person analyses of situational interest and boredom: Interactions between task-specific perceptions and achievement goals

Despite the increasing number of studies examining the correlates of interest and boredom, surprisingly little research has focused on within-person fluctuations in these emotions, making it difficult to describe their situational nature. To address this gap in the literature, this study conducted repeated measurements (12 times) on a sample of 158 undergraduate students using a variety of self-report assessments, and examined the within-person relationships between task-specific perceptions (expectancy, utility, and difficulty) and interest and boredom. This study further explored the role of achievement goals in predicting between-person differences in these within-person relationships. Utilizing hierarchical-linear modeling, we found that, on average, a higher perception of both expectancy and utility, as well as a lower perception of difficulty, was associated with higher interest and lower boredom levels within individuals. Moreover, mastery-approach goals weakened the negative within-person relationship between difficulty and interest and the negative within-person relationship between utility and boredom. Mastery-avoidance and performance-avoidance goals strengthened the negative relationship between expectancy and boredom. These results suggest how educators can more effectively instruct students with different types of goals, minimizing boredom and maximizing interest and learning.

RMetS special interest group meeting: high resolution data assimilation

Data assimilation (DA) systems are evolving to meet the demands of convection-permitting models in the field of weather forecasting. On 19 April 2013 a special interest group meeting of the Royal Meteorological Society brought together UK researchers looking at different aspects of the data assimilation problem at high resolution, from theory to applications, and researchers creating our future high resolution observational networks. The meeting was chaired by Dr Sarah Dance of the University of Reading and Dr Cristina Charlton-Perez from the MetOffice@Reading. The purpose of the meeting was to help define the current state of high resolution data assimilation in the UK. The workshop assembled three main types of scientists: observational network specialists, operational numerical weather prediction researchers and those developing the fundamental mathematical theory behind data assimilation and the underlying models. These three working areas are intrinsically linked; therefore, a holistic view must be taken when discussing the potential to make advances in high resolution data assimilation.

Farmers' interest in growing GM crops in the UK, in the context of a range of on-farm coexistence issues

Although no GM crops currently are licensed for commercial production in the UK, as opposition to GM crops by consumers softens, this could change quickly. Although past studies have examined attitudes of UK farmers toward GM technologies in general, there has been little work on the impact of possible coexistence measures on their attitudes toward GM crop production. This could be because the UK Government has not engaged in any public dialogue on the coexistence measures that might be applied on farms. Based on a farm survey, this article examines farmers’ attitudes toward GM technologies and planting intentions for three crops (maize, oilseed rape, and sugar beet) based on a GM availability scenario. The article then nuances this analysis with a review of farmer perceptions of the level of constraint associated with a suite of notional farm-level coexistence measures and issues, based on current European Commission guidelines and practice in other EU Member States.

National interest to global reform: patterns of reasoning in British foreign policy discourse

Discussion of the national interest often focuses on how Britain's influence can be maximized, rather than on the goals that influence serves. Yet what gives content to claims about the national interest is the means-ends reasoning which links interests to deeper goals. In ideal-typical terms, this can take two forms. The first, and more common, approach is conservative: it infers national interests and the goals they advance from existing policies and commitments. The second is reformist: it starts by specifying national goals and then asks how they are best advanced under particular conditions. New Labour's foreign policy discourse is notable for its explicit use of a reformist approach. Indeed, Gordon Brown's vision of a 'new global society' not only identifies global reform as a key means of fulfilling national goals, but also thereby extends the concept of the national interest well beyond a narrow concern with national security.

Women’s Popular Cinema in Greece: the case of Olga Malea

This thesis examines the film comedies directed by Olga Malea and released between 1997 and 2007 in Greece, in order to make a claim for the study of women’s popular cinema in Greece and beyond. Women’s popular cinema refers to films which are thematically associated with women’s cinema while operating in popular forms, such as genre. Olga Malea and her work make for a useful case study, in that they encapsulate the relationship between these two broad categories of women’s cinema and popular cinema. In addition, this thesis claims that the two categories inflect one another in interesting ways, and their intersections act as a productive framework for the analysis of women’s cinema as popular cinema, effecting a popularisation of usually marginalised themes. The introduction to this work primarily outlines the theoretical frameworks for the argument that follows, namely: women’s cinema and feminist theory; discussions around popular cinema; and considerations about authorship. The concept of national film cultures and its possible meaning in relation to Greece is also alluded to as a contextual factor. Each subsequent chapter advances the argument for women’s popular cinema through close textual analysis of the films in chronological order of their release. In particular, the analysis identifies recurrent strands and motifs in the director’s oeuvre, such as tensions between tradition and modernity, and the pervasive nature of patriarchy in informing national gender discourses. Having established the argument that women’s popular cinema is productive in popularising women’s cinema itself, the thesis concludes that, in the work of Olga Malea, its themes are conceived of, represented and perceived as prominent in the country during the period examined – and one can finally address women’s cinema as popular.

Is there a Rhythm Of The Rain? An analysis of weather in popular music

Weather is frequently used in music to frame events and emotions, yet quantitative analyses are rare. From a collated base set of 759 weather-related songs, 419 were analysed based on listings from a karaoke database. This article analyses the 20 weather types described, frequency of occurrence, genre, keys, mimicry, lyrics and songwriters. Vocals were the principal means of communicating weather: sunshine was the most common, followed by rain, with weather depictions linked to the emotions of the song. Bob Dylan, John Lennon and Paul McCartney wrote the most weather-related songs, partly following their experiences at the time of writing.

Public real estate and the term structure of interest rates: a cross-country study

Using a variation of the Nelson-Siegel term structure model we examine the sensitivity of real estate securities in six key global markets to unexpected changes in the level, slop and curvature of the yield curve. Our results confirm the time-sensitive nature of the exposure and sensitivity to interest rates and highlight the importance of considering the entire term structure of interest rates. One issue that is of particular of interest is that despite the 2007-9 financial crisis the importance of unanticipated interest rate risk weakens post 2003. Although the analysis does examine a range of markets the empirical analysis is unable to provide definitive evidence as to whether REIT and property-company markets display heightened or reduced exposure.