The Borneo Company Limited:The Origins of a Nineteenth Century Networked Multinational

The origins of British-based trading companies are to be found in the international mercantile networks which linked together Britain's commercial centres with the rest of the world during the nineteenth century. One such network, drawing together participants with operations in Singapore and Sarawak, was formalized under the title of The Borneo Company Limited (BCL) between 1851 and 1856. To function effectively, these inter-personal networks of merchants required a high degree of trustworthiness among the participants in order to overcome principal/agent problems, since direct supervision from the headquarters in London was not feasible. However, in order to expand, it was necessary to widen the circle of network participants and to incorporate new types of competence. This contribution analyses the early history of BCL with a view to understanding the way in which the process of growth was managed, distinguishing between three different types of expansion: engaging in production as well as trade; extending the geographical scope of the organization; and diversifying into new markets

The Mathematics of Market Timing

Market timing is an investment technique that tries to continuously switch investment into assets forecast to have better returns. What is the likelihood of having a successful market timing strategy? With an emphasis on modeling simplicity, I calculate the feasible set of market timing portfolios using index mutual fund data for perfectly timed (by hindsight) all or nothing quarterly switching between two asset classes, US stocks and bonds over the time period 1993--2017. The historical optimal timing path of switches is shown to be indistinguishable from a random sequence. The key result is that the probability distribution function of market timing returns is asymetric, that the highest probability outcome for market timing is a below median return. Put another way, simple math says market timing is more likely to lose than to win---even before accounting for costs. The median of the market timing return probability distribution can be directly calculated as a weighted average of the returns of the model assets with the weights given by the fraction of time each asset has a higher return than the other. For the time period of the data the median return was close to, but not identical with, the return of a static 60:40 stock:bond portfolio. These results are illustrated through Monte Carlo sampling of timing paths within the feasible set and by the observed return paths of several market timing mutual funds.Comment: 18 pages, 6 figure

Problem-based learning in action: The development of The Virtual Health and Wellness Centre

Nursing education in Australia has undergone significant change over the past 30 years. Most notably, the transfer from a traditional apprenticeship model to that of a professional degree based course in the tertiary sector. Contemporary healthcare institutions demand graduates who are ‘work ready’ and able to ‘hit the ward running’. The demographics of the Australian population indicate that groups of culturally diverse individuals are seeking healthcare along with an ageing population of Australians who have unique needs. The growing demand for more highly trained, work ready nurses has landed squarely on the shoulders of universities providing comprehensive nursing education. The problem now for nurse educators is to facilitate teaching and learning strategies that will engage the student nurse in processes that promote critical thinking and problem solving in the work place. While various models and curricula are in use across Australia in pre-registration nursing education, there is growing evidence to suggest that Problem-Based Learning (PBL) is perhaps the most suited to producing professionals who are able to problem solve and address the multiple demands of an ever changing environment. The introduction of a PBL curriculum will meet this demand. Here at Edith Cowan University, the School of Nursing Midwifery and Postgraduate Medicine has undertaken a pilot project introducing a web based resource to align with the introduction of a hybrid PBL curricula. Undergraduate nursing students undertaking the Bachelor of Science (Nursing) were given the opportunity to meet a paediatric patient in the Virtual Health and Wellness Centre. This virtual site enables nursing students to explore case study in various nursing areas such as paediatrics, critical care, medical/surgical and aged care. Students progress through a scenario which incorporates theory relating to anatomy and physiology, pathophysiology, pharmacology, psychosocial issues, research, professional issues and relevant nursing skills. Each scenario is formulated around a set of learning outcomes, which are evaluated by the student at the completion of the case study. During practical laboratory sessions students are able to contextualise their learning and seek informal peer feedback. The development of these case scenarios are context rich and built around the central aim of engaging students in self-directed learning. This discovery learning leads to higher comprehension and transferability of knowledge. Students will be able to practice the skills and theory in practical laboratory sessions which adds a functional dimension to the online material making the meanings derived from the combination of theory and practice more profound and ‘real world’. Gibbon (2005) states that “in PBL we take a collection of information, pertinent to the problem. We learn a little about each and synthesise it to solve the problem, like a jigsaw” (p. 6

The Citation Impact of Digital Preprint Archives for Solar Physics Papers

Papers that are posted to a digital preprint archive are typically cited twice as often as papers that are not posted. This has been demonstrated for papers published in a wide variety of journals, and in many different subfields of astronomy. Most astronomers now use the arXiv.org server (astro-ph) to distribute preprints, but the solar physics community has an independent archive hosted at Montana State University. For several samples of solar physics papers published in 2003, I quantify the boost in citation rates for preprints posted to each of these servers. I show that papers on the MSU archive typically have citation rates 1.7 times higher than the average of similar papers that are not posted as preprints, while those posted to astro-ph get 2.6 times the average. A comparable boost is found for papers published in conference proceedings, suggesting that the higher citation rates are not the result of self-selection of above-average papers.Comment: 5 pages, 1 table, Solar Physics accepte

A deeper understanding of white dwarf interiors

A detailed record of the physical processes that operate during post-main-sequence evolution is contained in the internal chemical structure of white dwarfs. Global pulsations allow us to probe the stellar interior through asteroseismology, revealing the signatures of prior nuclear burning, mixing, and diffusion in these stars. I review the rapid evolution of structural models for helium-atmosphere variable (DBV) white dwarfs over the past five years, and I present a new series of model-fits using recent observations to illustrate the relative importance of various interior structures. By incorporating physically motivated C/O profiles into double-layered envelope models for the first time, I finally identify an optimal asteroseismic model that agrees with both diffusion theory and the expected nuclear burning history of the progenitor. I discuss the implications of this fundamental result, and I evaluate the prospects for continued progress in the future.Comment: 5 pages, 2 figures, 1 table, Accepted for MNRAS Letter

Crowdfunding Astronomy Research with Google Sky

For nearly four years, NASA's Kepler space telescope searched for planets like Earth around more than 150,000 stars similar to the Sun. In 2008 with in-kind support from several technology companies, our non-profit organization established the Pale Blue Dot Project, an adopt-a-star program that supports scientific research on the stars observed by the Kepler mission. To help other astronomy educators conduct successful fundraising efforts, I describe how this innovative crowdfunding program successfully engaged the public over the past seven years to help support an international team in an era of economic austerity.Comment: 7 pages, 3 figures, Journal of Astronomy & Earth Sciences Education, accepted. Project website is at http://adoptastar.whitedwarf.or