bluuebunny/crossref_metadata_2025 huggingface dataset:
Ethnic diversity in social context
Authors: Johnson Mark R D
Published: November 2023

This chapter seeks to place black and minority ethnic groups (BMEGs) in the UK in social context. The concepts of ethnicity, race and culture are introduced. The challenges of describing the diversity of individuals and ethnic group are considered. The socio-economic experience, linguistic and religious features of diverse communities are then outlined, highlighting experience of disadvantage and racism.
An organizing clinical framework for mental health clinicians
Authors: Krawitz Roy , Watson Christine
Published: November 2023

Mental health clinicians have extensive skills to draw on. Positive outcomes can be achieved when these skills are integrated into a considered clinical plan based on principles of effective treatments. Of course, intensive training in the evidence-based treatments is desirable, but not necessary nor practical for all clinicians in a mental health service. The following tables are an outline of a clinical framework that is available to general mental health clinicians using existing workforce skills.
Teams
Authors: Krawitz Roy , Watson Christine
Published: November 2023

People meeting diagnostic criteria for borderline personality disorder have tended to receive treatment that is fragmented and reactive. Poor outcomes have then been used as evidence of the inefficacy of treatment. A cohesive team structure, essential for all areas of mental health, is even more critical in this area. When life and death decisions need to be made, staff differences will frequently be evident. A cohesive team structure, integrated services and clearly defined guidelines assist these differences to be constructive rather than destructive.
In summary
Authors: Krawitz Roy , Watson Christine
Published: November 2023

+ General and risk assessment is highly individualized+ A detailed history of past and current suicidality and self-harm will provide benchmark information required to develop a longitudinal treatment plan and to guide crisis treatments+ An identified key clinician is at the core of the team The key clinician role is probably the most important staff role in the treatment and needs to be invested with accordingly high value and status Key clinicians need to be empowered to determine treatment The client-clinician relationship provides the foundation for effective treatment A clinical plan created by client and key clinician is at the core of treatment+ Contracts are important
In summary
Authors: Krawitz Roy , Watson Christine
Published: November 2023

There has been a stigma towards people meeting diagnostk criteria for borderline personality disorder within the mental health profession Negative or offensive language impacts on client outcomes Clinician values and feelings are critical determinants for effective treatment+ Stigmatization has led to discrimination, most evident in the paucity of intensive, proactive treatment for those most severely affected Often public mental health services only respond to this client group when they are suicidal. This encourages the very behaviours clinicians are trying to decrease
Medicolegal framework
Authors: Krawitz Roy , Watson Christine
Published: November 2023

People meeting diagnostic criteria for borderline personality disorder represent a significant risk for clinicians and organizations providing service, particularly because of the possibility of suicide and complaints. Involvement of the media and other influential community people such as Members of Parliament increases this risk. Gutheil (1985) in the article “The medico legal pitfalls in the treatment of borderline patients” explains how a lack of understanding about optimal treatment choices and risks involved may lead to clinicians being blamed for ineffective treatment even when that treatment is of a satisfactory or better standard. In the event of an undesirable outcome, clinicians need to demonstrate that they practised according to a “reasonable practitioner standard”, not that they practised perfectly.
Clinical appropriateness of the use of mental health legislation
Authors: Krawitz Roy , Watson Christine
Published: November 2023

Expert opinion is in agreement that use of mental health legislation should be considered an unusual part of treatment. Mental health legislation is generally invoked when a client states acute intention to suicide. When the client makes contact with mental health services, indicates imminent suicide intention and then declines treatment measures to enhance safety, the clinician has to either take a risk of the client suiciding or force treatment by means of mental health legislation. Training, experience and knowledge of the literature assist the discrimination of life-threatening and non-life-threatening suicidal statements (Stone 1993). Knowledge of the client with greatly assist in discriminating between these two states. If the client is not well known, it is wise to err on the side of caution. Like any other unusual treatment, use of mental health legislation needs to be monitored and locally peer reviewed.
Preventing clinician burn-out
Authors: Krawitz Roy , Watson Christine
Published: November 2023

Work in this area is challenging. There is potential for clinician resentment, bitterness and exhaustion alongside the potential for meaningful, satisfying and rich experiences. The clinician may “explode”, “shrivel up” or quietly burn out if overwhelmed with demands exceeding resources and personal capacity. Alternatively, the clinician may be enhanced, enriched and energized if sufficiently on top of the situation. Successful outcomes are likely to be the major factor in maintaining enthusiasm. We may need to remind ourselves and our colleagues of those successes, particularly at times of difficulty. Holding a long-term perspective and being mindful of small gains is also likely to be beneficial. The more knowledge we have of setting up treatment which will enhance successful outcomes, the more the balance is shifted away from burn-out towards satisfaction.
Words of hope from clients
Authors: Krawitz Roy , Watson Christine
Published: November 2023

A word of advice to mental health professionals that cannot be stressed too strongly: don’t define people with borderline personality disorder too strongly by any textbook limitations you have read. I have exceeded my doctor’s expectations for improvement and he doesn’t know how far I can progress. For the most part I’ve stayed out of the hospital, maintain long-term full time employment, live independently, have a motor vehicle, and plan to pursue further educational opportunities. If I as one of the most chronic, regular, persistent visitors to emergency rooms in my community between the late 1980s and early 1990s, and as one of the most chronic hospital escapees, and write this editorial, I realized that despite the incredible stresses of the past year, I have not cut, burned nor bruised myself. I have not even considered doing so. In the midst of profound grief, shock, outrage, and fear, I did not consider SIV (self-inflicted violence). I did not need to. I had not made a promise to anyone, including myself to avoid SIV. I have always believed that if I need to cut, I need to cut. Survival always comes first. But I also can attest to the possibility of living without SIV, even in immensely difficult times. One after another, unexpectedly for most, I lost many I loved. My own healing had evolved to a place, however, wherein I did not consider SIV to help me cope with very deep and raw emotions and extremely difficult decisions.
Cognitive analytic therapy
Authors: Kerr Ian B , Ryle Anthony
Published: November 2023

Cognitive Analytic Therapy (CAT) is an integrative model of psychotherapy developed over recent decades by Ryle and subsequently further elaborated by others (Denman 2002; Ryle and Kerr 2002). Although devised as a brief therapy for ‘neurotic’ problems, it has become a mature model of development and psychopathology applicable to an expanding range of conditions. Committed to evidence-based practice, its origins lie partly in process research (Ryle 1980; Bennett and Parry 2003, 2004). Its evidence base is primarily naturalistic although formal outcome studies (notably for borderline personality disorder; BPD) are in progress.
Child and adolescent psychotherapy
Authors: Emanuel Ricky
Published: November 2023

Winnicott famously said, ‘There is no such thing as a baby’. Similarly, children (I shall use this term to cover adolescents as well) cannot be realistically considered outside their context. When they are therefore referred for help, the approach has to be systemic, that is, viewing them in their own right, with their own difficulties and as members of a family, school, and com- munity, all of which may affect their difficulties or vice versa.
Cybernetic Theory of Stress, Coping, and Well-Being: Review and Extension to Work and Family
Authors: Edwards Jeffrey R
Published: November 2023

Cybernetic theory provides a useful general framework for understanding human behavior. Cybernetic theory was originally developed to describe the functioning of self-regulating systems (Ashby, 1966, Wiener, 1948). According to cybernetic theory, the purpose of self-regulating systems is to minimize discrepancies between environmental inputs and internal standards that serve as reference criteria. This purpose is achieved through the negative feedback loop, which assesses discrepancies between environmental input and internal standards and attempts to minimize these discrepancies by changing the environment, adjusting standards, or both. Cybernetic theory has been adapted to explain human behavior, often under the rubric of control theory (Carver and Scheier, 1981; Miller et al., 1960; Powers, 1973), and has been further elaborated to explain specific psychological and behavioral phenomena, such as motivation (Hyland, 1988; Klein, 1989; Lord and Hanges, 1987; Taylor et al., 1984), goal-setting (Campion and Lord, 1982), impression management (Bozeman and Kacmar, 1997), and mental and physical health (Hyland, 1987; Pyszczynski and Greenberg, 1987; Seeman, 1989).
Essential Skills for Dentists
Authors: Mossey Peter A , Holsgrove Gareth J , Stirrups David R , Davenport Elizabeth S
Published: November 2023

This book is directed primarily at undergraduate dental students and the newly-qualified dentist but it will also be of value to medical and dental educationalists. In its concept and content it is closely aligned to recent developments in dental education in the United Kingdom by reference to the General Dental Council’s recommendations for the Undergraduate Dental Curriculum and the Quality Assurance Agency’s Benchmark Statements for Dentistry. This facilitates the description of Essential Skills for Dentists in the light of contemporary documentation, and the authors of the various chapters have been chosen on the basis of their clinical and educational expertise within the dental establishments of Great Britain and Ireland. The book is divided into three main sections dealing with generic skills, discipline specific skills, and integrated skills respectively, thus enabling comprehensive coverage with cross-referencing as appropriate. The core function of the book is to facilitate learning and by clearly defining the learning outcomes, using checklists for in-course formative assessment of defined clinical competencies and the use of mind maps to facilitate revision, the book aims to integrate the complementary relationship between learning and assessment. The topic-oriented layout of the book allows the graduate or trainee to dip into specific topics or subjects on a stand-alone basis, and references and further reading are provided to facilitate exploration of the subject in greater detail if desired.
Beyond Depression
Authors: Dowrick Christopher
Published: November 2023

Is there an epidemic of depression sweeping the world, or are we radically altering our interpretation of normal human experiences? Do we need a dose of medication or a renewed sense of meaning? In Beyond Depression, Christopher Dowrick - an academic general practitioner - takes a critical insider's look at commonly held views about the diagnosis and management of depression. He argues that our belief in depression as a medical condition is based on some shaky theoretical and functional foundations. He shows how commercial, professional, organisational and cultural factors combine to sustain the popularity of depression as a concept, which is based more on our values than on science. He considers alternative ways of understanding the thoughts and feelings that we currently describe as depression, drawing on cross-cultural, religious, political and literary sources. He proposes a conceptual framework based on the central importance of purpose and meaning for understanding ourselves as active, creative and engaged. This framework provides a means of moving beyond depression as a medical concept and as a personal problem. When applied to encounters between doctors and patients in primary care it leads us towards enabling narratives, with an emphasis on listening and understanding rather than diagnosis and prescription. Beyond Depression combines a comprehensive analysis of current scientific evidence with an impressive review of linguistic, literary and philosophical perspectives. Moving seamlessly between controlled trials and Camus, from prescribing to Proust, the book is informed throughout by a series of sensitive case studies drawn from the author's personal experience.
Clinical trials in psychiatry
Authors: Everitt Brian S , Wessely Simon
Published: November 2023

Mental health problems account for a quarter of all physician consultations, and place an enormous financial burden on society. For this reason, the search for effective treatments in psychiatry continues apace. But as they are developed, it is essential that we have effective and rigorous methods of assessing the benefits and safety of new treatments. The randomised-controlled trial (RCT) is accepted as being the best method for doing this. In order to understand what does and does not work, mental health professionals' needs to understand how treatments have been assessed and evaluated. Clinical Trials in Psychiatry is the first book to explain RCTs for mental health professionals. It starts by discussing why we need trials and why they are the best way of deciding if a treatment works. It then describes the different types of trial, how to analyse the results, and how to conduct a trial. For anyone working in the mental health field, this book will be an essential source of reference, allowing them to make informed decisions about treatment.
Analysing and presenting simulation output from probabilistic models
Authors: Briggs Andrew , Claxton Karl , Sculpher Mark
Published: November 2023

The aim of this chapter is to explore exactly how probabilistic models, with all parameters being represented by their respective distributions, should be handled in terms of producing, analysing and then presenting the results of the probabilistic analysis. The chapter starts by looking at how to analyse and present large numbers of Monte Carlo simulation results of the output parameters of interest for the straightforward comparison of two alternative treatments. We then turn to the issue of calculating the sensitivity of the overall results to individual parameter values using standard analysis of covariance (ANCOVA) methods. These methods are illustrated using the AIDS/HIV model that was developed in the previous chapters based on the work by Chancellor et al. (1997). The cost-effectiveness acceptability curve (CEAC) is introduced and the advantages over the standard presentation of interval estimates of uncertainty are outlined.
Generic Versus Disease-Targeted Instruments
Authors: Hays Ron D
Published: November 2023

Generic health-related quality of life (HRQoL) instruments are designed to be applicable across a wide range of populations and interventions. Disease-targeted measures, in contrast, are designed to be relevant to a particular disease, such as diabetes or lupus. This chapter compares and contrasts generic and disease-targeted HRQoL instruments, discussing the pros and cons of both kinds of measures. Generic measures are designed to be relevant to anyone. They are analogous to intelligence tests in that different people can be compared to one another because they have taken the same test. Generic measures have two basic forms: (1) profile.
Context Effects And Proxy Assessments
Authors: McColl Elaine , Fayers Peter
Published: November 2023

Responses to subjective questions – such as those concerning quality of life – are open to external influences, and a patient may answer the same question very differently according to the context. Thus, for example, previous questions might influence answers by focusing attention on specific issues, or by affecting the patient ‘s mood or attitude; perhaps the setting (home/hospital) or mode of administration (e.g. self-completed paper-based questionnaire, computer touch-screen, or interview) might have an impact. This chapter reviews the literature regarding the impact of such effects on HRQoL assessment. This is a rapidly changing field, and we make no pretence of having carried out a formal systematic review – but we believe that the conclusions faithfully represent current knowledge on this subject.
Analysing Longitudinal Studies Of Qol
Authors: Fairclough Diane
Published: November 2023

Longitudinal data occur in most QoL investigations because we are interested in how a disease or an intervention affects an individual ‘s functioning and well-being over time. These studies of health-related QoL consider measurement from one of two perspectives. In the first, the end points are expressed in the metric of the QoL scales, whereas in the second group the end point is expressed in the metric of time. The latter group includes outcomes such as Quality Adjusted Life Years (QALYs) that are discussed elsewhere in this book (Chapter 6.2). In studies where the end points are expressed in the metric of the QoL scales, QoL assessment is generally incorporated into the study by administering questionnaires at multiple time points before, during, and sometimes after an intervention, with the goal of characterizing the patient ‘s health-related QoL in a longitudinal fashion.
Preventing Missing Data
Authors: Revicki Dennis A , Fairclough Diane L
Published: November 2023

Health-related quality of life (HRQoL) and other patient reported outcomes are frequently incorporated into clinical trial protocols to evaluate the effects of treatments on patient functioning and well-being. The value of HRQoL data is in extending the understanding of safety and clinical efficacy end points, and in providing the patient ‘s perspective in assessing the outcomes of health care interventions. Although there are some unique challenges to including HRQoL measures in randomized clinical trials, these end points should be treated no differently than clinical effectiveness end points. It is important to ensure that there is a rationale for including HRQoL outcomes in clinical studies and that there are clearly articulated research questions regarding the HRQoL end points.
Communication in a multicultural society
Authors: Macdonald Elisabeth
Published: November 2023

Many different ethnic groups now form important minorities in our community. Sensitivity to matters of cultural importance can greatly enhance doctor–patient relations. Some background of relevance to health issues is given in relation to patients from Muslim, Asian, Jewish, Jehovah’s Witness and Afro-Caribbean communities.
Opioid-resistant pain
Authors: Davis Mellar P
Published: November 2023

Opioid responsive pain is determined by patient type, drug type, dose and pain characteristics. Several different terms have been used to describe pain that is poorly responsive to opioids; opioid resistant pain, opioid unresponsiveness, opioid insensitive pain, paradoxical or opioid facilitated pain. There are difficulties in determining just when opioid responsiveness ends, since differences in opioid dose requirements are significant between individuals, and what dose titration will relieve pain (rendering an opioid ‘refractory’ pain responsive). Under-dosing, poorly prescribed or ineffective dosing strategies, and dosing errors lead to continued severe pain in some patients despite the use of potent opioids.
Bird Families of the World
Authors: Davies S J J F , Bamford Michael J , Loomes Danika
Published: November 2023

The book covers the evolution, biology and natural history of the group of flightless birds that includes ostriches, emus, cassowaries and kiwis - the Ratites and their relatives, the Tinamous. It reviews the scientific studies that have been made of their ecology, behaviour, physiology, husbandary, evolution, mythology and conservation. Each of the 55 species is described in detail, with maps of the present known distribution, accounts their food and nesting habits, calls, field identification, habitat and relationship with humans, including farming. It is the first such comprehensive account of the groups since 1877, and the first to bring together comprehensive information about the tinamous, little known birds of the America. It reviews the long debated subject of the evolution of these groups, highlighting new evidence that has turned many old theories on their head. Both the interested amateur and the professional should find it rewarding to read.
Molecular motion and hydrogen-bond transformations in crystals of 1,3-cyclohexanedione
Authors: Katrusiak Andrzej
Published: November 2023

Thermal motion is an attribute of all crystals and it has profound effects on their properties. In most cases the analysis of molecular motion in molecular crystals is somewhat more complicated than in ionic or covalently bonded crystals. This arises from the strong anharmonic effects in non-rigid molecules and from the complex nature of intermolecular forces. In polymers or proteins the contributions of internal modes of molecular vibrations are of major significance for their temperature-dependent properties and transformations. One form of molecular motion is the transformation of hydrogen bonds, a phenomenon of particular importance in physical, chemical and biological sciences (Barnes and Ratajczak, 1992).
The symbolic thesis
Authors: Taylor John R
Published: November 2023

Given the centrality of the symbolic thesis in Cognitive Grammar, I devote this chapter to examining some general aspects of it. I begin by looking at Saussure’s conception of the linguistic sign. The symbolic thesis can be seen as a natural development of this aspect of Saussure’s thought. I then examine in more detail the notion of the symbolic sign in contrast to other kinds of signs—i.e. icons and indexes—in order to better appreciate the essentially symbolic nature of human language. Finally, I address an important point of divergence between what appears to have been Saussure’s views concerning the status of phonological and semantic structures in a language, and the Cognitive Grammar position on these issues.
Syntagmatic relations: Combining semantic units
Authors: Taylor John R
Published: November 2023

In earlier chapters, especially Chapters 7–9, I focused on the ‘vertical’ relations between linguistic units, that is, the relations between a more abstractly characterized schema and its more fully characterized instances. In this and the next chapter I turn to ‘horizontal’ relations between units, that is to say, the syntagmatic combination of simpler units into larger, internally more complex units. (On ‘vertical’ vs. ‘horizontal’ relations, refer to the précis of Cognitive Grammar in section 2.I.I.)
Tense and aspect
Authors: Taylor John R
Published: November 2023

In this chapter I turn to the second category of grounded expressions: finite clauses. Grounding, in a clause, is effected by tense inflection on the verb, alternatively (in English) by the modal auxiliaries. Whereas a grounded nominal designates an instance of a thing (identifiable from the perspective of the speech-act situation), a grounded clause designates an instance of a process.
Alternatives to metaphor
Authors: Taylor John R
Published: November 2023

In this chapter I consider some themes in Cognitive Linguistics which, independently of their inherent interest, offer alternative ways of approaching metaphor (or, rather, phenomena which the Lakovian theory takes to involve metaphor). The fact that a linguistic expression can be used of both an abstract and a concrete domain does not entail that the one is construed metaphorically in terms of the other. It is conceivable that both are structured in terms of a schematic conceptualization that abstracts what is common to the two domains.
Privatization: Principles, Problems, and Priorities
Authors: Beesley Michael , Littlechild Stephen
Published: November 2023

What principles should guide a further programme of privatization? What kinds of problems will be encountered, and where should the priorities lie? Economists have not written much on these issues. We hope to provide an explicit structure in which relevant questions can be identified and answered.

‘Privatization’ is generally used to mean the formation of a Companies Act company and the subsequent sale of at least 50 per cent of the shares to private shareholders. However, the underlying idea is to improve industry performance by increasing the role of market forces. Many other measures can contribute to this, notably freeing of entry to an industry, encouraging competition, and permitting joint ventures. Market forces can also be increased by restructuring the nationalized industry, to create several successor companies which may be publicly owned. To secure maximum benefits, a whole set of measures must be designed for each industry, including privatization as a key element.
Privatization of British Steel
Authors: Aylen Jonathan
Published: November 2023

British Steel was privatized in December 1988 with the government retaining a ‘golden share’ as a barrier to take-over until the end of 1993. Since then, British Steel plc has maintained its profitability in boom and recession and held its position as one of the world’s lowest-cost steel producers.

This paper was written as part of the privatization debate during 1988. By then, the British Steel Corporation had made a remarkable turnround from record-breaking losses to being highly cost efficient and profitable. The paper develops two themes. The first is the importance of a competitive product market as a source of efficiency. The second theme is the significance of a market for corporate control-take-overs and mergers-as an element in the restructuring of European steel. Privatization exposes British Steel to the market for corporate control.
Mergers and Economic Performance in the UK: A Survey of the Empirical Evidence 1950-1990
Authors: Hughes* Alan
Published: November 2023

This chapter draws together the results of empirical research on the impact of merger on market structure and economic performance in the UK.1 It concentrates almost exclusively on the post-war period. The chapter is organized in four sections. In Section l, possible approaches to assessing the impact of mergers on market structure and company performance and their implications for economic welfare are briefly set out. In Section 2, the principal characteristics of post-war merger activity in the UK are described. Section 3 looks at the relationship between mergers and concentration and diversification as indicators of structural change, whilst Section 4 concentrates upon the impact of merger upon corporate performance. The final section draws the discussion of structure and performance effects together and makes some brief points relevant to competition policy matters.
The Market for Corporate Control: Divestments and Buy-outs
Authors: Wright* Mike , Chiplin† Brian , Thompson‡ Steve
Published: November 2023

The merger wave of the second half of the 1980s was marked by several features not seen in previous upsurges in acquisition activity. Besides the unprecedented size of some take-overs, new sources of transactions and new organizational forms, accompanied by new initiators and enabled by innovations in financing techniques, appeared. Divestment of subsidiaries, whilst an important component of previous merger waves (Chiplin and Wright (1980)), took on a much higher profile as the size of subsidiaries being sold off rose significantly. A major development in the market for corporate control, particularly for divestment, was the acquisition of such subsidiaries by their own managers-the management buy-out. For example, three of the largest management buy-outs in the UK arose on the shift of core activities by their respective parents. MFI-Hygena was divested to management by Asda in 1987 for £717 million. Reedpack was the subject of a £690 million management buy-out as the parent Reed International shifted the focus of its attention. Similarly, Bricom was sold to its management by B % C.
Continental Mergers are Different
Authors: Davis* Evan , Shore† Graham , Thompson‡ David
Published: November 2023

In recent years, business has been heavily preoccupied with two themes: merger and acquisition activity, and the development of the European Single Market. The topic of this chapter combines the two: continental mergers. The authors argue that the costs and benefits of continental mergers are different from those of their domestic counterparts, and they need to be handled in different ways. This has implications both for the form of integration and for the way in which it is implemented. Most important, it is relevant to the selection of the right partner.
Estimating Time-Varying Risk Premia in the Term Structure: the ARCH-M Model
Authors: Engle Robert F , Lilien, David M , Robins Russell P
Published: November 2023

The expectation of the excess-holding yield on a long bond is postulated to depend upon its conditional variance. Engle’s (1982a) ARCH model is extended to allow the conditional variance to be a determinant of the mean and is called ARCH-M. Estimation and inference procedures are proposed and the model is applied to three interest-rate data sets. In most cases the ARCH process and the time varying risk premium are highly significant. A collection of LM diagnostic tests reveals the robustness of the model to various specification changes such as alternative volatility or ARCH measures, regime changes, and interest rate formulations. The model explains and interprets the recent econometric failures of the expectations hypothesis of the term structure.
Generalized Autoregressive Conditional Heteroskedasticity
Authors: Bollerslev Tim
Published: November 2023

A natural generalization of the ARCH (Autoregressive Conditional Heteroskedastic) process introduced in Engle (1982) to allow for past conditional variances in the current conditional variance equation is proposed. Stationarity conditions and autocorrelation structure for this new class of parametric models are derived. Maximum likelihood estimation and testing are also considered. Finally an empirical example relating to the uncertainty of the inflation rate is presented. While conventional time-series and econometric models operate under an assumption of constant variance, the ARCH (Autoregressive Conditional Heteroskedastic) process introduced in Engle (1982) allows the conditional variance to change over time as a function of past errors leaving the unconditional variance constant.
Multivariate Stochastic Variance Models
Authors: Harvey Andrew , Ruiz, Esther , Shephard Neil
Published: November 2023

Changes in variance, or volatility, over time can be modelled using the approach based on autoregressive conditional heteroscedasticity (ARCH). However, the generalizations to multivariate series can be difficult to estimate and interpret. Another approach is to model variance as an unobserved stochastic process. Although it is not easy to obtain the exact likelihood function for such stochastic variance models, they tie in closely with developments in finance theory and have certain statistical attractions. This article sets up a multivariate model, discusses its statistical treatment and shows how it can be modified to capture common movements in volatility in a very natural way. The model is then fitted to daily observations on exchange rates.
Stock Market Volatility and the Information Content of Stock Index Options
Authors: Day Theodore E , Lewis Craig M
Published: November 2023

Previous studies of the information content of the implied volatilities from the prices of call options have used a cross-sectional regression approach. This paper compares the information content of the implied volatilities from call options on the S&P 100 index to GARCH (Generalized Auto regressive Conditional Heteroscedasticity) and Exponential GARCH models of conditional volatility. By adding the implied volatility to GARCH and EGARCH models as an exogenous variable, the within sample incremental information content of implied volatilities can be examined using a likelihood ratio test of several nested models for conditional volatility. The out-of-sample predictive content of these models is also examined by regressing ex post volatility on the implied volatilities and the forecasts from GARCH and EGARCH models.
Meteor Showers or Heat Waves? Heteroskedastic Intra-Daily Volatility in the Foreign Exchange Market
Authors: Engle By Robert F , Ito, Takatoshi , Lin Wen-Ling
Published: November 2023

This paper seeks to explain the causes of volatility clustering in exchange rates. Careful examination of intra-daily exchange rates provides a test of two hypotheses-heat waves and meteor showers. The heat wave hypothesis is that the volatility has only country-specific autocorrelation. Alternatively, the meteor shower is a phenomenon of intra-daily volatility spillovers from one market to the next. Using the GARCH model to specify the hetero skedasticity across intra-daily market segments, we find that the empirical evidence is generally against the null hypothesis of the heat wave. Using a volatility type of vector autoregression we examine the impact of news in one market on the time path of per-hour volatility in other markets.
Joint Ventures
Authors: Buckley Peter J , Casson Mark
Published: November 2023

Joint ventures (JVs) have always been an important aspect of business organization. The partnership, which is so common in the professions, is an example of a joint venture between individuals. Inter-firm joint ventures have played an important role in the expansion of MNEs into new markets as when a sales affiliate is established with an indigenous distribution company as a partner. Recently joint ventures have become a popular form of alliance between established MNEs, and the high profile of these ventures means that JVs have attracted much more attention (Contractor and Lorange, 1988; Harrigan, 1985; Hladik, 1985; Killing, 1983).
Economic Theories Of the firms: Past, Present, and Future
Authors: Milgrom Paul , Roberts John
Published: November 2023

When economists today write about the firm, they most often proceed by comparing its characteristics with those of markets. The reason is not hard to understand: As economic historians have repeatedly argued (Innis, 1938; North and Thomas 1973; Rosenberg and Birdzell, 1985); the emergence, expansion and eventual dominance of the market system in western economies since the Middle Ages crucially contributed to economic growth and the resulting accumulation of wealth and rising standards of living for much of the population. More recently, the spectacular successes of the market oriented economies of the rapidly industrializing nations of Asia have shown that the strengths of the market as a basis for organizing economic activity are not limited to western societies.
The Information Society: Competing Perspectives on the Social and Economic Implications of and Communication Technologies
Authors: Miles Ian
Published: November 2023

Information processing is an integral feature of human activities. Innate human capabilities have been augmented by various technologies since ancient times—writing to store information, drums and flags to transmit and display it, the abacus to process it. But current social and technological developments are distinctive. Information storage, processing, and communication have become increasingly visible and important in economic, social, and political life. New ICTs that help to perform these activities are a substantial advance on earlier technologies and offer tremendous scope for transforming the ways in which we produce and use information.
Why Geography Will Still Matter: What Jobs Go Where?
Authors: Goddard John , Richardson Ranald
Published: November 2023

There are three interrelated features of ICTs which are likely to contribute to structural unemployment. Two of these are of a quantitative nature: their pervasiveness and rate of diffusion. The third and most revolutionary characteristic relates to ICT’s network capabilities, which we believe represents a qualitatively new dimension to technological change.
Systems Thinking
Authors: Checkland Peter
Published: November 2023

It may appear obvious to an optimist that ‘management information systems’ (MIS) are a particular kind of ‘system’ and that systems theory should be there in the background to underpin the creation of such systems. This chapter cannot but dispel that naive optimism. There is no simple link between systems theory and work on MIS, no spick-and-span body of ready made theory which can be used in a straightforward way to help in the design of such systems.
Deciding the Future for IS Failures Not the Choice You Might Think
Authors: Sauer Chris
Published: November 2023

Experience does not encourage optimism. However, there are changes unfolding in practice and research which could result in significantly reduced failure rates. The first is a shift in practice toward risk containment, a relatively new approach which promises to reduce the high incidence and cost of failure. The second is the growing research interest in IS failures. This chapter places IS failures research in its historical context to help us see what has and has not been achieved in the past, what is happening today, and where current trends are taking us. The main purpose is to demonstrate that we face a choice between reducing risk through containing it and accepting high risk but trying to control it. The dilemma is this in an ideal world there would be no IS failures, but a world in which there are no IS failures will not necessarily be ideal.
A Historical Analysis of Implementing IS at J. Lyons
Authors: Land Frank
Published: November 2023

Thompson and Standing ford immediately recognised that computers could be the solution to the problems of business data processing faced by the growing Lyons company. In a remarkable report they outlined their vision of what computers for business use should look like, and how they might be applied to help solve business problems. Their report went on to recommend that J. Lyons should either acquire a computer from a supplier, or, as few companies were interested in building a computer to the Lyons specification, that the company should fund a university to help develop a computer for the use of Lyons. A quotation taken from their report gives an indication of the importance they attached to their recommendation.
An Evolutionary Theory of Economic Change
Authors: Nelson Richard R , Winter Sidney G
Published: November 2023

A variety of terms have been used in the literature of social science to denote a smooth sequence of behavior that functions, in some sense, as an effective unit. ‘Skill’ is obviously one such; there is, in particular, a substantial psychological literature relating to skills and skill learning. The terms ‘plan,’ ‘script,’ ‘habit,’ ‘routine,’ and ‘program’ have also been used to name either the same concept or a very closely related one. But there are obvious differences in connotation among these terms, and exploration of these various connotations can be informative.
Economies of Scope and the Scope of the Enterprise
Authors: Teece David J
Published: November 2023

Explaining the scope of activities pursued by the modern business enterprise is clearly central to our understanding of the organization of industry. Yet, as Ronald Coase points out, the received theory of industrial organization is unable to explain why General Motors is not a dominant factor in the coal business or why A & P does not manufacture airplanes (Coase (1972, p. 67)).
The Art of War
Authors: Tzu Sun
Published: November 2023

Generally in war the best policy is to take a state intact; to ruin it is inferior to this. Li Ch ‘iian: Do not put a premium on killing. To capture the enemy ‘s army is better than to destroy it; to take intact a battalion, a company or a five-man squad is better than to destroy them. For to win one hundred victories in one hundred battles is not the acme of skill. To subdue the enemy without fighting is the acme of skill. Thus, what is of supreme importance in war is to attack the enemy ‘s strategy; Tu Mu: . . . The Grand Duke said: ‘He who excels at resolving difficulties does so before they arise.
Differences in Learning and Inequality1
Authors: Cappelen Ådue
Published: November 2023

It has become commonplace to say that knowledge is the most important resource in modern economies. Estimates of national wealth often end up with a share of total wealth due to human capital in the order of two-thirds or three quarters of total wealth. Knowledge is accumulated through learning. In the learning economy the core processes are related to producing, distributing, and using knowledge according to OECD (1996a). The knowledge-based economy means, ‘… economies which are directly based on the production, distribution and use of knowledge and information. This is reflected in the trend in OECD economies towards growth in high-technology investments, high-technology industries, more highly skilled labour and associated productivity gains’ (OECD 1996a: 229).
Organizational Forms and Innovative Performance: A Comparison of the EU-15
Authors: Lorenz Edward , Valeyre Antoine
Published: November 2023

Over the last decades European researchers have made major efforts aimed at understanding and measuring technical innovation including its diffusion and impact upon economic performance. These efforts, often supported by the European Commission programmes, have relied on the establishment of international norms for the collection of harmonized S&T measures including the Frascati Manual for R&D statistics, the Canberra Manual for human resources for science and technology (HRST), and the Oslo Manual for product and process innovation.
Innovation Systems and Institutional Regimes: The Construction of Different Types of National, Sectoral, and Transnational Innovation Systems
Authors: Whitley Richard
Published: November 2023

The existence and nature of distinct systems of innovations have been extensively discussed over the past few decades (see e.g. Lundvall 1992; Nelson 1993; Edquist 1997, 2005; Braczyk, Cooke, and Heidenreich 1998). However, there has been much debate about whether they are predominantly national, regional, or sectoral, and the relative importance of societal institutions and technological regimes in generating them (Malerba and Orsenigo 1993; Breschi and Malerba 1997; Guerrieri and Tylecote 1997; Whitley 2000b). This is partly because many authors have been reluctant to specify precisely the nature of innovation systems, their key components, and variable characteristics (Carlsson et al. 2002; Edquist 2005).
Introduction: ethical human resource management∗
Authors: Pinnington Ashly , Macklin, Rob , Campbell Tom
Published: November 2023

It is a curious fact that the current surge of interest in business ethics has largely bypassed the theory and the practice of human resource management (HRM).While business as a whole is presenting itself more and more in terms of social responsibility, and employees are routinely accepted as crucial stakeholders in most business organizations, HRM practice continues to affirm its significance for corporate profitability and prefers to distance itself from its traditional welfare image. It is, therefore, timely to revisit the subject of ethics in employment with respect to HRM, and to do so in a way that brings out the complexity of articulating a conception of ethical HRM that goes beyond a shaky affirmation that ‘good ethics is always good for business’.
The ethics of HRM in dealing with individual employees without collective representation
Authors: Legge Karen
Published: November 2023

In this chapter I wish to do four things. First, to establish the degree to which collective representation has declined in neo-liberal Anglo-American economies (with particular reference to Britain) and to consider why this has occurred. Second, using Berlin’s ideas (1958/2002) about the two conceptions of liberty as a heuristic, to explore the case for and against the ethicality of both collectivism and individualism (see also Gray 1995). Third, on the basis of this, to consider whether and to what extent particular groups without collective representation enjoy the good life at work in the light of the explicit or implicit HRM policies deemed appropriate to their occupational group. Finally, I consider how the role and responsibilities of HRM might develop in relation to these employees, noting that what might be ethically desirable shows little evidence of emerging.
The ethical basis for HRM professionalism and codes of conduct
Authors: Ardagh David
Published: November 2023

In this chapter the extent, feasibility, and desirability of the professionalization of HRM and HRM professionalism are discussed. It is argued that there are three broad marks of a profession. First, it meets a human need. Second, it applies knowledge to this need, and third, a profession has a social grant of authority. More specific criteria can be found in the literature, for example, one condition of full professionalization is a self-enforced code of ethics and conduct. The question of feasibility and desirability of professionalization is explored using the more specific criteria and the ethical framework of Neo-Aristotelian Virtue Ethics (NAVE).
Engineers of human souls, faceless technocrats, or merchants of morality?: changing professional forms and identities in the face of the neo-liberal challenge
Authors: Reed Michael I
Published: November 2023

Contemporary social science and social commentary are dominated by an incurably pessimistic metaphysical pathos over the ‘professional society or state’ (Perkin 1989). Although professions have been under attack, from one ideological direction or another, the virulence of contemporary critiques of the inherent immorality of unaccountable professional power reflects deeper structural movements and political shifts that seem to sound the death knell of professionalism.
Expanding ethical standards of HRM: necessary evils and the multiple dimensions of impact
Authors: Margolis Joshua D , Grant, Adam M , Molinsky Andrew L
Published: November 2023

Ethical challenges abound in HRM. Each day, in the course of executing and communicating HR decisions, managers have the potential to change, shape, redirect, and fundamentally alter the course of other people’s lives. Managers make hiring decisions that reward selected applicants with salaries, benefits, knowledge, and skills, but leave the remaining applicants bereft of these opportunities and advantages. Managers make promotion decisions that reward selected employees with raises, status, and responsibility, leaving other employees wondering about their future and their potential.
The morally decent HR manager
Authors: Macklin Rob
Published: November 2023

In this chapter, my aim is to help HR managers who wish to be decent and who wish to defend ethical decision-making. In order to do this, I describe the theory developed by the moral philosopher, Agnes Heller (especially 1987a, 1988, 1990, and 1996) and argue that her approach could be of use to HR managers who wish to be decent people when fulfilling their roles.