The home stigma : adverse selection in ADRs and the home capital market environment

We investigate whether characteristics of the home country capital environment, such as information disclosure and investor rights protection continue to affect ADRs cross-listed in the U.S. Using microstructure measures as proxies for adverse selection, we find that characteristics of the home markets continue to be relevant, especially for emerging market firms. Less transparent disclosure, poorer protection of investor rights and weaker legal institutions are associated with higher levels of information asymmetry. Developed market firms appear to be affected by whether or not home business laws are common law or civil law legal origin. Our finding contributes to the bonding literature. It suggests that cross-listing in the U.S. should not be viewed as a substitute for improvement in the quality of local institutions, and attention must be paid to improve investor protection in order to achieve the full benefits of improved disclosure. Improvement in the domestic capital market environment can attract more investors even for U.S. cross-listed firms.

The role of social capital in reducing negative health outcomes among police officers

This paper investigates the role of social capital on the reduction of short and long run negative health effects associated with stress, as well as indicators of burnout among police officers. Despite the large volume of research on either social capital or the health effects of stress, the interaction of these factors remains an underexplored topic. In this empirical analysis we aim to reduce such a shortcoming focusing on a highly stressful and emotionally draining work environment, namely law enforcement agents who perform as an essential part of maintaining modern society. Using a multivariate regression analysis focusing on three different proxies of health and three proxies for social capital conducting also several robustness checks, we find strong evidence that increased levels of social capital is highly correlated with better health outcomes. Additionally we observe that while social capital at work is very important, social capital in the home environment and work-life balance are even more important. From a policy perspective, our findings suggest that work and stress programs should actively encourage employees to build stronger social networks as well as incorporate better working/home life arrangements.

La raza y la lengua como capital en las escuelas : una propuesta sociológica para las reformas en educación lingüística

Este texto hace un acercamiento sociológico al análisis de la raza y la lengua en la formación de programas de educación en idiomas. Este enfoque usa los modelos de Bourdieu de habitus y campo social, los cuales enmarcan la raza y la lengua como elementos variables en el cambio educativo y pedagógico, que están, a la vez, sujetos a la agenciamiento de profesores y estudiantes. El enfoque sugiere que una política de educación en lenguas para la justicia social puede concentrarse no sólo en el cambio y el desarrollo del sujeto humano, sino también en cambio sistemático de los campos sociales del currículo.

Obstacle detection using optical flow

Motion has been examined in biology to be a critical component for obstacle avoidance and navigation. In particular, optical flow is a powerful motion cue that has been exploited in many biological systems for survival. In this paper, we investigate an obstacle detection system that uses optical flow to obtain range information to objects. Our experimental results demonstrate that optical flow is capable of providing good obstacle information but has obvious failure modes. We acknowledge that our optical flow system has certain disadvantages and cannot be solely used for navigation. Instead, we believe that optical flow is a critical visual subsystem used when moving at reason- able speeds. When combined with other visual subsystems, considerable synergy can result.

Learning to avoid indoor obstacles from optical flow

Optical flow (OF) is a powerful motion cue that captures the fusion of two important properties for the task of obstacle avoidance − 3D self-motion and 3D environmental surroundings. The problem of extracting such information for obstacle avoidance is commonly addressed through quantitative techniques such as time-to-contact and divergence, which are highly sensitive to noise in the OF image. This paper presents a new strategy towards obstacle avoidance in an indoor setting, using the combination of quantitative and structural properties of the OF field, coupled with the flexibility and efficiency of a machine learning system.The resulting system is able to effectively control the robot in real-time, avoiding obstacles in familiar and unfamiliar indoor environments, under given motion constraints. Furthermore, through the examination of the networks internal weights, we show how OF properties are being used toward the detection of these indoor obstacles.

Virtual force feedback teleoperation of the InsectBot using optical flow

This paper proposes the use of optical flow from a moving robot to provide force feedback to an operator’s joystick to facilitate collision free teleoperation. Optical flow is measured by a pair of wide angle cameras on board the vehicle and used to generate a virtual environmental force that is reflected to the user through the joystick, as well as feeding back into the control of the vehicle. We show that the proposed control is dissipative and prevents the vehicle colliding with the environment as well as providing the operator with a natural feel for the remote environment. Experimental results are provided on the InsectBot holonomic vehicle platform.

A new framework for force feedback teleoperation of robotic vehicles based on optical flow

This paper proposes the use of optical flow from a moving robot to provide force feedback to an operator's joystick to facilitate collision free teleoperation. Optic flow is measured by wide angle cameras on board the vehicle and used to generate a virtual environmental force that is reflected to the user through the joystick, as well as feeding back into the control of the vehicle. The coupling between optical flow (velocity) and force is modelled as an impedance - in this case an optical impedance. We show that the proposed control is dissipative and prevents the vehicle colliding with the environment as well as providing the operator with a natural feel for the remote environment. The paper focuses on applications to aerial robotics vehicles, however, the ideas apply directly to other force actuated vehicles such as submersibles or space vehicles, and the authors believe the approach has potential for control of terrestrial vehicles and even teleoperation of manipulators. Experimental results are provided for a simulated aerial robot in a virtual environment controlled by a haptic joystick.

Dynamic Image-based visual servo control using centroid and optic flow features

This paper considers the question of designing a fully image-based visual servo control for a class of dynamic systems. The work is motivated by the ongoing development of image-based visual servo control of small aerial robotic vehicles. The kinematics and dynamics of a rigid-body dynamical system (such as a vehicle airframe) maneuvering over a flat target plane with observable features are expressed in terms of an unnormalized spherical centroid and an optic flow measurement. The image-plane dynamics with respect to force input are dependent on the height of the camera above the target plane. This dependence is compensated by introducing virtual height dynamics and adaptive estimation in the proposed control. A fully nonlinear adaptive control design is provided that ensures asymptotic stability of the closed-loop system for all feasible initial conditions. The choice of control gains is based on an analysis of the asymptotic dynamics of the system. Results from a realistic simulation are presented that demonstrate the performance of the closed-loop system. To the author's knowledge, this paper documents the first time that an image-based visual servo control has been proposed for a dynamic system using vision measurement for both position and velocity.

Combined optic-flow and stereo-based navigation of urban canyons for a UAV

We present a novel vision-based technique for navigating an Unmanned Aerial Vehicle (UAV) through urban canyons. Our technique relies on both optic flow and stereo vision information. We show that the combination of stereo and optic-flow (stereo-flow) is more effective at navigating urban canyons than either technique alone. Optic flow from a pair of sideways-looking cameras is used to stay centered in a canyon and initiate turns at junctions, while stereo vision from a forward-facing stereo head is used to avoid obstacles to the front. The technique was tested in full on an autonomous tractor at CSIRO and in part on the USC autonomous helicopter. Experimental results are presented from these two robotic platforms operating in outdoor environments. We show that the autonomous tractor can navigate urban canyons using stereoflow, and that the autonomous helicopter can turn away from obstacles to the side using optic flow. In addition, preliminary results show that a single pair of forward-facing fisheye cameras can be used for both stereo and optic flow. The center portions of the fisheye images are used for stereo, while flow is measured in the periphery of the images.

Specifying and enforcing a fine-grained information flow policy : model and experiments

In this paper we present a model for defining and enforcing a fine-grained information flow policy. We describe how the policy can be enforced on a typical computer and present experiments using the proposed model. A key feature of the model is that it allows the expression of rules which detail precisely which information elements are allowed to mix together. For example, the model allows the expression of a policy which forbids a doctor from mixing the personal medical details of the patients. The enforcement mechanisms tracks and records information flows within the system so that dynamic changes to the policy can be made with respect to information elements which may have propagated to different locations in the system.

Active flow control bump design using hybrid Nash-game coupled to evolutionary algorithms

In this paper, the optimal design of an active flow control device; Shock Control Bump (SCB) on suction and pressure sides of transonic aerofoil to reduce transonic total drag is investigated. Two optimisation test cases are conducted using different advanced Evolutionary Algorithms (EAs); the first optimiser is the Hierarchical Asynchronous Parallel Evolutionary Algorithm (HAPMOEA) based on canonical Evolutionary Strategies (ES). The second optimiser is the HAPMOEA is hybridised with one of well-known Game Strategies; Nash-Game. Numerical results show that SCB significantly reduces the drag by 30% when compared to the baseline design. In addition, the use of a Nash-Game strategy as a pre-conditioner of global control saves computational cost up to 90% when compared to the first optimiser HAPMOEA.

Implicit discount rates and fisheries management : is there a relationship?

Fishers are faced with multiple risks, including unpredictability of future catch rates, prices and costs. While the latter are largely beyond the control of fisheries managers, effective fisheries management should reduce uncertainty about future catches. Different management instruments are likely to have different impacts on the risk perception of fishers, and this should manifest itself in their implicit discount rate. Assuming licence and quota values represent the net present value of the flow of expected future profits, then a proxy for the implicit discount rate of vessels in a fishery can be derived by the ratio of the average level of profits to the average licence/quota value. From this, an indication of the risk perception can be derived, assuming higher discount rates reflect higher levels of systematic risk. In this paper, we apply the capital asset pricing model (CAPM) to determine the risk premium implicit in the discount rates for a range of Australian fisheries, and compare this with the set of management instruments in place. We test the assumption that rights based management instruments lower perceptions of risk in fisheries. We find little evidence to support this assumption. although the analysis was based on only limited data.

Capital music : personal expression with a public display of song choice

Using information and communication technology devices in public urban places can help to create a personalised space. Looking at a mobile phone screen or listening to music on an MP3 player is a common practice avoiding direct contact with others e.g. whilst using public transport. However, such devices can also be utilised to explore how to build new meaningful connections with the urban space and the collocated people within. We present findings of work-in-progress on Capital Music, a mobile application enabling urban dwellers to listen to music songs as usual, but also allowing them to announce song titles and discover songs currently being listened to by other people in the vicinity. We study the ways that this tool can change or even enhance people’s experience of public urban spaces. Our first user study also found changes in choosing different songs. Anonymous social interactions based on users’ music selection are implemented in the first iteration of the prototype that we studied.

Workplace design in the knowledge economy : a case of the NetWorkPlace™©

This thesis explores a way to inform the architectural design process for contemporary workplace environments. It reports on both theoretical and practical outcomes through an exclusively Australian case study of a network enterprise comprised of collaborative, yet independent business entities. The internet revolution, substantial economic and cultural shifts, and an increased emphasis on lifestyle considerations have prompted a radical re-ordering of organisational relationships and the associated structures, processes, and places of doing business. The social milieu of the information age and the knowledge economy is characterised by an almost instantaneous flow of information and capital. This has culminated in a phenomenon termed by Manuel Castells as the network society, where physical locations are joined together by continuous communication and virtual connectivity. A new spatial logic encompassing redefined concepts of space and distance, and requiring a comprehensive shift in the approach to designing workplace environments for today’s adaptive, collaborative organisations in a dynamic business world, provides the backdrop for this research. Within the duality of space and an augmentation of the traditional notions of place, organisational and institutional structures pose new challenges for the design professions. The literature revealed that there has always been a mono-organisational focus in relation to workplace design strategies. The phenomenon of inter-organisational collaboration has enabled the identification of a gap in the knowledge relative to workplace design. This new context generated the formulation of a unique research construct, the NetWorkPlace™©, which captures the complexity of contemporary employment structures embracing both physical and virtual work environments and practices, and provided the basis for investigating the factors that are shaping and defining interactions within and across networked organisational settings. The methodological orientation and the methods employed follow a qualitative approach and an abductively driven strategy comprising two distinct components, a cross-sectional study of the whole of the network and a longitudinal study, focusing on a single discrete workplace site. The complexity of the context encountered dictated that a multi-dimensional investigative framework was required to be devised. The adoption of a pluralist ontology and the reconfiguration of approaches from traditional paradigms into a collaborative, trans-disciplinary, multi-method epistemology provided an explicit and replicatable method of investigation. The identification and introduction of the NetWorkPlace™© phenomenon, by necessity, spans a number of traditional disciplinary boundaries. Results confirm that in this context, architectural research, and by extension architectural practice, must engage with what other disciplines have to offer. The research concludes that no single disciplinary approach to either research or practice in this area of design can suffice. Pierre Bourdieau’s philosophy of ‘practice’ provides a framework within which the governance and technology structures, together with the mechanisms enabling the production of social order in this context, can be understood. This is achieved by applying the concepts of position and positioning to the corporate power dynamics, and integrating the conflict found to exist between enterprise standard and ferally conceived technology systems. By extending existing theory and conceptions of ‘place’ and the ‘person-environment relationship’, relevant understandings of the tensions created between Castells’ notions of the space of place and the space of flows are established. The trans-disciplinary approach adopted, and underpinned by a robust academic and practical framework, illustrates the potential for expanding the range and richness of understanding applicable to design in this context. The outcome informs workplace design by extending theoretical horizons, and by the development of a comprehensive investigative process comprising a suite of models and techniques for both architectural and interior design research and practice, collectively entitled the NetWorkPlace™© Application Framework. This work contributes to the body of knowledge within the design disciplines in substantive, theoretical, and methodological terms, whilst potentially also influencing future organisational network theories, management practices, and information and communication technology applications. The NetWorkPlace™© as reported in this thesis, constitutes a multi-dimensional concept having the capacity to deal with the fluidity and ambiguity characteristic of the network context, as both a topic of research and the way of going about it.