Transparency requirements and hedge funds.

Regulation of any financial institution or asset class should refl ect the regulatory objectives which are relevant to the institution or asset class. This paper identifies the relevant regulatory objectives in respect of hedge funds as market confidence and financial stability, market integrity and consumer protection. Against these objectives, the paper examines what information should – and should not – be provided by hedge fund managers to: • investors • creditors and counterparties • the general public • regulators It also describes the work carried out by the Financial Services Authority (FSA), in the context of its market confidence and financial stability objective, to survey large dealers’ exposure to hedge funds and the risk-based supervision of UK hedge fund managers carried out by the FSA in the United Kingdom.

Efficient digital comparison technique for logic circuits

Tolerance compare technique indicates discompare only when numerical difference value exceeds prescribed limit. Algorithm involving binary number properties is defined, in lieu of arithmetic operation which requires relatively complex circuitry. Extension of algorithm may be made to encompass tolerances other than one unit

Bearing damage characteristics of fibre-reinforced countersunk composite bolted joints subjected to quasi-static shear loading

This paper studies the progression of damage in carbon fibre-reinforced polymer (CFRP) countersunk composite bolted joints (CBJs) with neat-fit clearance, subjected to quasi-static loading. Damage mechanisms, comprising of fibre buckling and breakage, matrix damage, shear damage and inter-laminar delamination within the CFRP composite parts of the joints have been studied. Load-displacement curves, X-ray and optical microscopic images in single- and three-bolt CBJs were used to investigate damage and deformation characteristics. The observations were then employed to further investigate the type of failure and the extent of damage. The evolution of damage within the composite parts was correlated to the failure characteristics of the joints: It was found that the type and extension of damage is strongly correlated with the ultimate failure load point of the joint in single-bolt CBJs. A combined inter/intra-laminar damage consisting of fibre cluster breakage, extensive fibre buckling, debonding and delamination was observed at the ultimate failure load. This study was then extended to three-bolt CBJ where damage surrounding each bolt and its corresponding failure load was strongly correlated: The final study showed that the ultimate failure point in single-bolt CBJ and the first-bolt-failure point in three-bolt CBJ correspond to the composite plies undergoing intra-laminar damage with the size reaching to the edge of the countersunk head. This damage developed extensively through the thickness of the composite parts underneath the countersink, and in the direction opposite to the loading direction. Outside the countersunk head, debonding and delamination were found to be the dominant damage driving mechanisms. Finally, a new design rule has been proposed to predict the response of multi-bolt joints (damage area and failure load) by using the response in single-bolt CBJ as an initial baseline

Experience of domestic violence by women attending an inner city accident and emergency department.

OBJECTIVES: To identify the prevalence of domestic violence (DV) (defined as physical abuse perpetrated by intimate partners) in women attending an inner city accident and emergency department and to elicit women's response about being asked routinely about domestic violence in this setting. METHODS: 22 nursing shifts were purposefully sampled to be representative of day, night, and weekends. A questionnaire was administered to 198 consenting women who were not intoxicated, confused, or critically ill. RESULTS: The prevalence of acute trauma in women attributable to DV was 1% (95%CI 0.14 to 3.6), the prevalence of lifetime physical abuse was 34.8% (95%CI 28.2 to 41.5), of past year physical abuse was 6.1% (95%CI 3.2 to 10.3), and of lifetime life threatening physical abuse was 10.6% (95%CI 6.3 to 14.9). Seventy six per cent of women felt comfortable about being asked about DV and 60.5% of women felt that they should always or usually be asked about DV in this setting. CONCLUSION: This cross sectional survey adds to the body of knowledge showing that the prevalence of DV in women attending an accident and emergency department is high. Most women were in favour of being asked, and disclosure was associated with discomfort in few women. This sensitive area of history taking and referral could be undertaken by health professionals using a supportive approach

Meat consumption: Trends and quality matters

peer-reviewedThis paper uses quality theory to identify opportunities for the meat sector that are consistent with trends in meat consumption. Meat consumption has increased and is likely to continue into the future. Growth is largely driven by white meats, with poultry in particular of increasing importance globally. The influence of factors such as income and price is likely decline over time so that other factors, such as quality, will become more important. Quality is complex and consumers' quality expectations may not align with experienced quality due to misconception of certain intrinsic cues. Establishing relevant and effective cues, based on extrinsic and credence attributes, could offer advantage on the marketplace. The use of extrinsic cues can help convey quality characteristics for eating quality, but also for more abstract attributes that reflect individual consumer concerns e.g. health/nutrition, and collective concerns, e.g. sustainability. However, attributes are not of equal value to all consumers. Thus consumer segmentation and production differentiation is needed.The authors acknowledge the financial support of the Irish Department of Agriculture Food and Marine for funding through their Stimulus Fund for the project entitled “Genetic selection for improved milk and meat product quality in dairy, beef and sheep”: project reference no: 11/SF/311

Development and evaluation of lessons for class and group situations in grade I. Volume I.

Thesis (Ed.M.)--Boston University For volume II, please see: http://hdl.handle.net/2144/1415

Testing Sunyaev-Zel'dovich measurements of the hot gas content of dark matter haloes using synthetic skies

The thermal Sunyaev-Zel'dovich (tSZ) effect offers a means of probing the hot gas in and around massive galaxies and galaxy groups and clusters, which is thought to constitute a large fraction of the baryon content of the Universe. The Planck collaboration recently performed a stacking analysis of a large sample of `locally brightest galaxies' (LBGs) and, surprisingly, inferred an approximately self-similar relation between the tSZ flux and halo mass. At face value, this implies that the hot gas mass fraction is independent of halo mass, a result which is in apparent conflict with resolved X-ray observations. We test the robustness of the inferred trend using synthetic tSZ maps generated from cosmological hydrodynamical simulations and using the same tools and assumptions applied in the Planck study. We show that, while the detection and the estimate of the `total' flux (within $5 r_{500}$) is reasonably robust, the inferred flux originating from within $r_{500}$ (i.e. the limiting radius to which X-ray observations typically probe) is highly sensitive to the assumed pressure distribution of the gas. Using our most realistic simulations with AGN feedback, that reproduce a wide variety of X-ray and optical properties of groups and clusters, we estimate that the derived tSZ flux within $r_{500}$ is biased high by up to to an order of magnitude for haloes with masses $M_{500} \sim 10^{13}$ M$_{\odot}$. Moreover, we show that the AGN simulations are consistent with the total tSZ flux-mass relation observed with Planck, whereas a self-similar model is ruled out.Comment: 16 pages, 10 figures, MNRAS, accepted after minor revisio

Clustering of equine grass sickness cases in the United Kingdom: a study considering the effect of position-dependent reporting on the space-time K-function

Equine grass sickness (EGS) is a largely fatal, pasture-associated dysautonomia. Although the aetiology of this disease is unknown, there is increasing evidence that Clostridium botulinum type C plays an important role in this condition. The disease is widespread in the United Kingdom, with the highest incidence believed to occur in Scotland. EGS also shows strong seasonal variation (most cases are reported between April and July). Data from histologically confirmed cases of EGS from England and Wales in 1999 and 2000 were collected from UK veterinary diagnostic centres. The data did not represent a complete census of cases, and the proportion of all cases reported to the centres would have varied in space and, independently, in time. We consider the variable reporting of this condition and the appropriateness of the space–time K-function when exploring the spatial-temporal properties of a ‘thinned’ point process. We conclude that such position-dependent under-reporting of EGS does not invalidate the Monte Carlo test for space–time interaction, and find strong evidence for space–time clustering of EGS cases (P<0.001). This may be attributed to contagious or other spatially and temporally localized processes such as local climate and/or pasture management practices