Financial Risk Management in Commonwealth Organisations

In the last decade financial risk management in public sector organisations has become of greater interest to the public, politicians and regulators. Derivatives are commonly used to manage financial risk but little is known about the reasons why financial risk is managed, particularly through the use of derivatives. Furthermore, little is known about the reasons for and extent of derivative use in public sector organisations. To the authors knowledge this paper represents one of the first studies into the use of derivatives in Australian Commonwealth public sector organisations. A sample of Commonwealth organisations is surveyed on attitudes towards the use of derivatives for hedging. A variety of tests including ANOVA and t-tests are used to analyse the results. The two most important issues in the use of derivatives for hedging in the Commonwealth public sector include budgeting and reducing risks faced by management. Reducing the risks faced by management is often cited as a reason for derivative use in the private sector. It is unclear if budgeting is linked to this. Respondents from Commonwealth organisations rank other private sector reasons for derivative use, such as reducing bankruptcy and taxation relatively unimportant. Results also indicate that there are significant differences in the level of importance in some issues regarding derivative use across different organisations, particularly those with and without a documented risk management plan

The use of derivatives in a public sector setting

Existing private sector models of derivative use do not readily translate into the public sector that faces the joint objectives of value maximisation and provision of a privately unprofitable mission good. This paper develops and tests a model explaining public sector derivative use in terms of budget discrepancy minimisation. Hypotheses are developed and tested using logistic regression over a sample of Australian Commonwealth Government entities. It is found that public sector derivative use is positively correlated with liabilities and size of the organisation. This is consistent with management of budget discrepancies

Adult attachment style across individuals and role-relationships: Avoidance is relationship-specific, but anxiety shows greater generalizability

A generalisability study examined the hypotheses that avoidant attachment, reflecting the representation of others, should be more relationship-specific (vary across relationships more than across individuals), while attachment anxiety, reflecting self-representation, should be more generalisable across a person’s relationships. College students responded to 6-item questionnaire measures of these variables for 5 relationships (mother, father, best same-gender friend, romantic partner or best opposite-gender friend, other close person), on 3 (N = 120) or 2 (N = 77) occasions separated by a few weeks. Results supported the hypotheses, with the person variance component being larger than the relationship-specific component for anxiety, and the opposite happening for avoidance. Anxiety therefore seems not to be as relationship-specific as previous research suggested. Possible reasons for discrepancies between the current and previous studies are discussed

3^3He Structure and Mechanisms of p3p^3He Backward Elastic Scattering

The mechanism of $p^3$He backward elastic scattering is studied. It is found that the triangle diagrams with the subprocesses $pd\to ^3$He$\pi^0$, $pd^*\to ^3$He$\pi^0$ and $p(pp)\to^3$He$\pi^+$, where $d^*$ and $pp$ denote the singlet deuteron and diproton pair in the $^1S_0$ state, respectively, dominate in the cross section at 0.3-0.8 GeV, and their contribution is comparable with that for a sequential transfer of a $np$ pair at 1-1.5 GeV. The contribution of the $d^*+pp$, estimated on the basis of the spectator mechanism of the $p(NN)\to ^3$He$\pi$ reaction, increases the $p^3$He$\to ^3$He$p$ cross section by one order of magnitude as compared to the contribution of the deuteron alone. Effects of the initial and final states interaction are taken into account.Comment: 17 pages, Latex, 4 postscript figures, expanded version, accepted by Physical Review

Generalized Polarizabilities of the Nucleon in Chiral Effective Theories

Using the techniques of chiral effective field theories we evaluate the so called generalized polarizabilities of the nucleon, which characterize the structure dependent components in virtual Compton scattering (VCS) as probed in the electron scattering reaction e N \to e' N gamma. Results are given for both spin-dependent and spin-independent structure effects to O(p^3) in SU(2) Heavy Baryon Chiral Perturbation Theory and to O(epsilon^3) in the SU(2) Small Scale Expansion. Finally we compare our calculations with results from the pioneering VCS experiment on the proton from Mainz.Comment: 39 pages, 12 figures, revte

Measurement of νˉμ\bar{\nu}_{\mu} and νμ\nu_{\mu} charged current inclusive cross sections and their ratio with the T2K off-axis near detector

We report a measurement of cross section $\sigma(\nu_{\mu}+{\rm nucleus}\rightarrow\mu^{-}+X)$ and the first measurements of the cross section $\sigma(\bar{\nu}_{\mu}+{\rm nucleus}\rightarrow\mu^{+}+X)$ and their ratio $R(\frac{\sigma(\bar \nu)}{\sigma(\nu)})$ at (anti-)neutrino energies below 1.5 GeV. We determine the single momentum bin cross section measurements, averaged over the T2K $\bar{\nu}/\nu$-flux, for the detector target material (mainly Carbon, Oxygen, Hydrogen and Copper) with phase space restricted laboratory frame kinematics of $\theta_{\mu}$500 MeV/c. The results are $\sigma(\bar{\nu})=\left( 0.900\pm0.029{\rm (stat.)}\pm0.088{\rm (syst.)}\right)\times10^{-39}$ and $\sigma(\nu)=\left( 2.41\ \pm0.022{\rm{(stat.)}}\pm0.231{\rm (syst.)}\ \right)\times10^{-39}$in units of cm$^{2}$/nucleon and$R\left(\frac{\sigma(\bar{\nu})}{\sigma(\nu)}\right)= 0.373\pm0.012{\rm (stat.)}\pm0.015{\rm (syst.)}$.Comment: 18 pages, 8 figure

Conservative treatment versus elective repair of umbilical hernia in patients with liver cirrhosis and ascites: results of a randomized controlled trial (CRUCIAL trial)

Purpose: To establish optimal management of patients with an umbilical hernia complicated by liver cirrhosis and ascites. Methods: Patients with a

Moral courage in the workplace: moving to and from the desire and decision to act

Peer Reviewedhttp://deepblue.lib.umich.edu/bitstream/2027.42/72135/1/j.1467-8608.2007.00484.x.pd