Chess endgame news

Reports the availability on the web of the entire run of Beasley's 'British Endgame Study News', and reviews a recent report by Bourzutschky and Konoval on their discoveries with 7-man endgame tables.

The impact of news on measures of undiversifiable risk: evidence from the UK stock market

Using UK equity index data, this paper considers the impact of news on time varying measures of beta, the usual measure of undiversifiable risk. The empirical model implies that beta depends on news about the market and news about the sector. The asymmetric response of beta to news about the market is consistent across all sectors considered. Recent research is divided as to whether abnormalities in equity returns arise from changes in expected returns in an efficient market or over-reactions to new information. The evidence suggests that such abnormalities may be due to changes in expected returns caused by time-variation and asymmetry in beta.

Learners’ perceptions of being identified as very able: insights from Modern Foreign Languages and Physical Education

While learners’ attitudes to Modern Foreign Languages (MFL) and to Physical Education (PE) in the UK have been widely investigated in previous research, an under-explored area is learners’ feelings about being highly able in these subjects. The present study explored this issue, among 78 learners (aged 12-13) from two schools in England, a Specialist Language College, and a Specialist Sports College. Learners completed a questionnaire exploring their feelings about the prospect of being identified as gifted/talented in these subjects, and their perceptions of the characteristics of highly able learners in MFL and PE. Questionnaires were chosen as the data collection method to encourage more open responses from these young learners than might have been elicited in an interview. While learners were enthusiastic about the idea of being highly able in both subjects, this enthusiasm was more muted for MFL. School specialism was related to learners’ enthusiasm only in the Sports College. Learners expressed fairly stereotypical views of the characteristics of the highly able in MFL and PE. The relevance of these findings for motivation and curriculum design within both subjects is discussed.

Asymmetric oligopoly and foreign direct investment: implications for host-country tax-setting

We present a duopoly model with heterogeneous firms that vary in cost-efficiency, each of which can choose to serve a foreign market by either exporting or local production. We do so to analyse the effects of a host-country corporate profit tax on both the scale and composition of FDI, and find that: strategic interaction between oligopolistic firms provides for a pattern of FDI that favours cost-inefficiency to the detriment of host-country welfare; and the host-country tax rate can be optimally used to avoid such patterns of FDI and instead promote direct investment by a relatively cost-efficient firm.

Public policy and foreign-based enterprises in Britain prior to the Second World War

This article examines the early evolution of British policy, prior to the Second World War. The British government adopted an ‘open’ policy towards foreign direct investment (FDI), despite periodic fears that some foreign acquisitions of UK firms in key sectors might be detrimental to the national interest, and a few ad hoc attempts to deal with particular instances of this kind. During the 1930s, when the inflow of foreign firms accelerated following Britain's adoption of general tariff protection, the government developed a sophisticated admissions policy, based on an assessment of the likely net benefit of each applicant to the British economy. Its limited regulatory powers were used to maximize the potential of immigrant firms for technology transfer, enhanced competition, industrial diversification, and employment creation (particularly in the depressed regions), while protecting British industries suffering from excess capacity.

Place making in Hellenistic Athens: beyond decline and foreign patronage

The study of cities is integral to the study of the Hellenistic Age, the period bounded by the deaths of two legendary rulers: Alexander in 323 BC and Kleopatra in 30 BC. Modern scholarship has followed in the footsteps of Johann-Gustav Droysen, who coined the term 'Hellenistic' in the nineteenth century and associated it with the diffusion of Greek culture through the founding of new cities in the East by Alexander and his successors. Hellenistic Athens, traditionally discussed under the rubric of its Classical legacy and/or in contrast with thriving cities, such as Pergamon, has been presented as a backwater exemplifying the demise of the 'polis'. My objective in this paper is to criticise these negative sentiments by exploring how the built environment of Hellenistic Athens could potentially become an indicator of city vitality.