sPortfolio: Stratified Visual Analysis of Stock Portfolios

Quantitative Investment, built on the solid foundation of robust financial theories, is at the center stage in investment industry today. The essence of quantitative investment is the multi-factor model, which explains the relationship between the risk and return of equities. However, the multi-factor model generates enormous quantities of factor data, through which even experienced portfolio managers find it difficult to navigate. This has led to portfolio analysis and factor research being limited by a lack of intuitive visual analytics tools. Previous portfolio visualization systems have mainly focused on the relationship between the portfolio return and stock holdings, which is insufficient for making actionable insights or understanding market trends. In this paper, we present sPortfolio, which, to the best of our knowledge, is the first visualization that attempts to explore the factor investment area. In particular, sPortfolio provides a holistic overview of the factor data and aims to facilitate the analysis at three different levels: a Risk-Factor level, for a general market situation analysis; a Multiple-Portfolio level, for understanding the portfolio strategies; and a Single-Portfolio level, for investigating detailed operations. The system's effectiveness and usability are demonstrated through three case studies. The system has passed its pilot study and is soon to be deployed in industry

Hunting High and Low: Visualising Shifting Correlations in Financial Markets

The analysis of financial assets' correlations is fundamental to many aspects of finance theory and practice, especially modern portfolio theory and the study of risk. In order to manage investment risk, in-depth analysis of changing correlations is needed, with both high and low correlations between financial assets (and groups thereof) important to identify. In this paper, we propose a visual analytics framework for the interactive analysis of relations and structures in dynamic, high-dimensional correlation data. We conduct a series of interviews and review the financial correlation analysis literature to guide our design. Our solution combines concepts from multi-dimensional scaling, weighted complete graphs and threshold networks to present interactive, animated displays which use proximity as a visual metaphor for correlation and animation stability to encode correlation stability. We devise interaction techniques coupled with context-sensitive auxiliary views to support the analysis of subsets of correlation networks. As part of our contribution, we also present behaviour profiles to help guide future users of our approach. We evaluate our approach by checking the validity of the layouts produced, presenting a number of analysis stories, and through a user study. We observe that our solutions help unravel complex behaviours and resonate well with study participants in addressing their needs in the context of correlation analysis in finance

British corporate networks, 1976-2010 : extending the study of finance-industry relationships.

Using an extensive and unique data set that has been created to record the composition of the boards of directors of the top 250 British firms between 1904 and 2010, this article builds upon a previous study by the authors on the corporate network to 1976 by extending the study to 2010. The analysis revolves around three key observations: the nature and depth of the corporate network; the distinct stages in corporate connectivity between 1976 and 2010; and the 1980s watershed in the relationship between financial and other sectors, following which financial institutions withdrew from the corporate network. The article concludes with an analysis of how the data set has changed our perceptions of British corporate networks, wider changes in British business, and a discussion of implications for future research

Management Accounting Practices and Discourses Change: The role and use of Management Accounting Systems

This paper aims to trace the development of management accounting systems (MAS) in a Portuguese bank, where an activity based costing system (ABC) has been trialled for implementation over the past few years, as a means to improving the economy, efficiency and effectiveness of employee activity. This initiative can be located in a wider cultural change in Portuguese banking towards global (i.e. US derived) strategies and processes, but within an organizational world where older traditions remain powerful. The research undertaken here is a longitudinal case study of organisational change in one institution based on a criticalinterpretive model. Although drawing on the interpretive tradition since it is concerned with actors’ perceptions, interpretations and beliefs, it also draws on a more historically focused Foucault-inspired critical framework of the kind developed in the work of Hoskin and Macve (e.g. 1986, 1988, 1994, 2000), and in the research into the financial sector undertaken by Morgan and Sturdy (2000). The particular model developed here is designed to enable the exploration of the effect of accounting practices on change across time from three perspectives – changing structures, changing discourses and the effect of both of these processes on power relations. The research highlights the increase in visibility and perceived importance of accounting in the banking sector, and how accounting is significant beyond its technical roles. The study provides new insights into how management accounting practices, along with other organisational systems, play an important role questioning, visualising, analysing, and measuring implemented strategies. As the language and practice of management have shifted towards strategy and marketing discourses, patterns of work, organisation and career are being restructured, in often under-appreciated ways, by accounting practices.

Management Accounting Practices and Discourses Change: the Role and use of Management Accounting Systems

This paper aims to trace the development of management accounting systems (MAS) in a Portuguese bank, where an activity based costing system (ABC) has been trialled for implementation over the past few years, as a means to improving the economy, efficiency and effectiveness of employee activity. This initiative can be located in a wider cultural change in Portuguese banking towards global (i.e. US derived) strategies and processes, but within an organizational world where older traditions remain powerful. The research undertaken here is a longitudinal case study of organisational change in one institution based on a critical-interpretive model. Although drawing on the interpretive tradition since it is concerned with actors’ perceptions, interpretations and beliefs, it also draws on a more historically focused Foucault-inspired critical framework of the kind developed in the work of Hoskin and Macve (e.g. 1986, 1988, 1994, 2000), and in the research into the financial sector undertaken by Morgan and Sturdy (2000). The particular model developed here is designed to enable the exploration of the effect of accounting practices on change across time from three perspectives – changing structures, changing discourses and the effect of both of these processes on power relations. The research highlights the increase in visibility and perceived importance of accounting in the banking sector, and how accounting is significant beyond its technical roles. The study provides new insights into how management accounting practices, along with other organisational systems, play an important role questioning, visualising, analysing, and measuring implemented strategies. As the language and practice of management have shifted towards strategy and marketing discourses, patterns of work, organisation and career are being restructured, in often under-appreciated ways, by accounting practices.N/

Understanding citizen science and environmental monitoring: final report on behalf of UK Environmental Observation Framework

Citizen science can broadly be defined as the involvement of volunteers in science. Over the past decade there has been a rapid increase in the number of citizen science initiatives. The breadth of environmental-based citizen science is immense. Citizen scientists have surveyed for and monitored a broad range of taxa, and also contributed data on weather and habitats reflecting an increase in engagement with a diverse range of observational science. Citizen science has taken many varied approaches from citizen-led (co-created) projects with local community groups to, more commonly, scientist-led mass participation initiatives that are open to all sectors of society. Citizen science provides an indispensable means of combining environmental research with environmental education and wildlife recording. Here we provide a synthesis of extant citizen science projects using a novel cross-cutting approach to objectively assess understanding of citizen science and environmental monitoring including: 1. Brief overview of knowledge on the motivations of volunteers. 2. Semi-systematic review of environmental citizen science projects in order to understand the variety of extant citizen science projects. 3. Collation of detailed case studies on a selection of projects to complement the semi-systematic review. 4. Structured interviews with users of citizen science and environmental monitoring data focussing on policy, in order to more fully understand how citizen science can fit into policy needs. 5. Review of technology in citizen science and an exploration of future opportunities

Multi-level processes of integration and disintegration. Proceedings of the Third Green Week Scientific Conference

CONTENTS: ACKNOWLEDGEMENTS ... I; ABOUT THE MACE PROJECT... III; PLENARY PRESENTATION ... 1; Landscape agroecology: Managing interactions between agriculture, nature and socio-economy... 3, Tommy Dalgaard; DEVELOPMENT CHALLENGES IN RURAL AREAS ... 13; Patterns of rural development in mountainous areas of the Mediterranean: Between innovation and tradition ... 15, Angela Guarino; Agro ecology: Hypothesis for a sustainable local development?... 22, Silvia Doneddu; The farmers' early retirement scheme as an instrument of structural changes in the rural areas after Poland's accession to the EU ... 29, Michal Dudek; FOOD MARKETS AND AGRICULTURAL MARKETING... 37; G/Local brand challenges in the Austrian agricultural food market ... 39, Bernadette Frech, Ana Azevedo, Hildegard Liebl; Willingness of food industry companies to co-finance collective agricultural marketing actions... 48, Anikó Tóth, Csaba Forgács; MULTIFUNCTIONAL AGRICULTURE ... 57; The role of multifunctional agriculture for rural development in Bulgaria... 59, Violeta Dirimanova; A methodological review of multifunctional agriculture ... 66, Concettina Guarino, Francesco Di Iacovo; A spatially explicit decision-making support tool for integral rural development ... 75, Catherine Pfeifer, Jetse Stoorvogel; AGRICULTURAL EXTENSION AND NETWORKS IN RURAL AREAS... 89; Feasibility and implementation strategies of dairy extension in Ulaanbaatar/Mongolia... 91, Baast Erdenebolor, Volker Hoffmann; The relevance of social networks for the implementation of the LEADER programme in Romania ... 99, Doris Marquardt, Gertrud Buchenrieder, Judith Möllers; Quality assessment problems of agricultural advisory centres' services... 113, Gunta Grinberga; INTEGRATION PROCESSES INTO INTERNATIONAL MARKETS... 125; Competition or market power in the Ukrainian meat supply chain? ... 127, Andriy Matyukha, Oleksandr Perekhozhuk; Integration of the Hungarian cereal market into EU 15 markets ... 138, Attila Jambor; Regional specialisation of agriculture and competitive advantages of East-European countries... 146, Oleksandr Zhemoyda, Stephan J. Goetz; GOVERNANCE AND USE OF NATURAL RESOURCES ... 155; An analysis of biodiversity governance in the Kiskunság National Park according to the GoverNat Framework... 157, Cordula Mertens, Eszter Kelemen, György Pataki; Hierarchical network modelling and multicriteria analysis for agri-environmental measures in Poland ... 168, Jadwiga Ziolkowska; Assessing rural livelihood development strategies combining socioeconomic and spatial methodologies ... 179, K.C. Krishna Bahadur; SUSTAINABLE AGRICULTURAL LAND USE... 189; Linking economic and energy modelling with environmental assessment when modelling the on-farm implementation of Anaerobic Digestion ... 191, Andreas Muskolus, Andrew M. Salter, Philip J. Jones; Phytoremediation of a heavy metal-contaminated agricultural area combined with energy production. Multifunctional use of energy maize, rapeseed and short rotation crops in the Campine (BE)... 200, Nele Witters, Stijn Van Slycken, Erik Meers, Kristin Adriaensen, Linda Meiresonne, Filip Tack, Theo Thewys, Jaco Vangronsveld --

A Descriptive Framework for Temporal Data Visualizations Based on Generalized Space-Time Cubes

International audienceWe present the generalized space-time cube, a descriptive model for visualizations of temporal data. Visualizations are described as operations on the cube, which transform the cube's 3D shape into readable 2D visualizations. Operations include extracting subparts of the cube, flattening it across space or time or transforming the cubes geometry and content. We introduce a taxonomy of elementary space-time cube operations and explain how these operations can be combined and parameterized. The generalized space-time cube has two properties: (1) it is purely conceptual without the need to be implemented, and (2) it applies to all datasets that can be represented in two dimensions plus time (e.g. geo-spatial, videos, networks, multivariate data). The proper choice of space-time cube operations depends on many factors, for example, density or sparsity of a cube. Hence, we propose a characterization of structures within space-time cubes, which allows us to discuss strengths and limitations of operations. We finally review interactive systems that support multiple operations, allowing a user to customize his view on the data. With this framework, we hope to facilitate the description, criticism and comparison of temporal data visualizations, as well as encourage the exploration of new techniques and systems. This paper is an extension of Bach et al.'s (2014) work