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British New Towns represent not a single homogeneous set of experiences, but lessons learned derive as much from their differences as their similarities. The chapter studies two British New Towns– Harlow and Thamesmead – identifying the main features of their master plans and analysing their trajectories and outcomes as actually built.

Harlow could be regarded as a typical British New Town. Designated in 1947, it is one of the first New Towns built around London, following design principles of the first (Mark I) generation. In contrast, Thamesmead was built within the city limits of London, but could be included in the second generation of the New Towns.

The towns’ plans have a number of commonalities, in the provision of green areas, employment, commercial areas and services for their population; but their locations, urban structure, land use and physical relation to their surroundings are quite different as they followed different concepts and evolving planning ideas. Even more striking contrast may be found in the way that these towns have grown and matured in different ways. This chapter therefore scrutinises the two towns’ plans, and what was actually built, drawing lessons for New Towns more generally.

This case builds on the case "Merck & Company: Product KL-798" (UVA-QA-0582) by providing market uncertainties for the drug (drug quality, the presence of a competitor, market growth, and the time to the drug's release). Student and faculty spreadsheets are provided for the calculation of net present values for the scenarios. There is an additional challenge of how to treat the several downstream decisions (using OptQuest, for example) and how to value the license opportunity. A teaching note is also available to registered faculty members.

Qualified immunity is a defense available to law enforcement officials in Section 1983 lawsuits alleging constitutional violations. Whether qualified immunity is granted hinges on the objective reasonableness of the officer’s actions; that is, on what a reasonable officer would have done under the circumstances. However, when a plaintiff alleges a Fourth Amendment violation, another objective reasonableness test is used. The result can be a paradoxical finding of reasonably unreasonable conduct. The present study examines this quizzical feature of civil liability law and seeks to clarify the role that both objective reasonableness tests play. In doing so, it examines the varying definitions of objective reasonableness, reviews a number of court decisions where the Fourth Amendment and qualified immunity have collided, and makes recommendations for minimizing future confusion.

The purpose of this paper is to analyze the mean-variance capital asset pricing model (CAPM) and downside risk-based CAPM (DR-CAPM) developed by Bawa and Lindenberg (1977), Harlow and Rao (1989), and Estrada (2002) to assess which downside beta better explains expected stock returns. The paper also explores whether investors respond differently to stocks that co-vary with declining market than to those of co-vary with rising market.

The paper uses monthly data of closing prices of stocks listed at the Karachi Stock Exchange (KSE). The data cover the period from January 2000 to December 2012. The standard, downside, and upside betas are estimated for different sub-periods,and then,their validity to quantify the risk premium is tested for subsequent sub-periods in a cross sectional regression framework. Though our empirical methodology is similar to that of Fama and MacBeth (1973) for testing the CAPM and the DR-CAPM, our approach to estimate the downside beta is different from earlier studies. In particular, we follow Estrada ' s (2002) suggestions and obtain the correct and unbiased estimation of the downside beta by running the time series regression through origin. The authors carry out the two-pass regression analysis using the generalized method of moment (GMM) in the first pass and the generalized least squares (GLS) estimation method in the second pass.

The results indicate that the mean-variance CAPM shows a negative risk premium for monthly returns of selected stocks. However, the results for the DR-CAPM of Bawa and Lindenberg (1977) and Harlow and Rao (1989) provide evidence of a positive risk premium for the downside beta. In contrast, the DR-CAPM of Estrada (2002) shows a negative risk premium in some sub-periods while the positive premium in the others. By comparing the risk premium for both downside and upside risks in a single-equation framework, the authors show that the stocks that co-vary with a declining market are compensated with a positive premium for bearing the downside risk. Yet, the risk premium for stocks that are negatively correlated with declining market returns is negative for all the three-downside betas in all the examined sub-periods.

The empirical findings of the paper are of great significance for investors for designing effective investment strategies. Specifically, the results help investors to identify an appropriate measure of risk and to construct well-diversified portfolio. The results are also useful for firm managers in capital budgeting decision-making process as they enable them to cost equities appropriately. The results also suggest that the risk-return relationship implied by mean-variance CAPM is negative and therefore this model is not suitable for gauging the risk associated with stocks traded in KSE. Yet, the authors show that DR-CAPM out performs in quantifying the risk premium.

Unlike prior empirical studies, the authors follow Estrada’s (2002) suggestions where downside beta is calculated using regression through origin to find correct and unbiased beta. Departing from the existing literature the authors estimate three different versions of DR-CAPM along with the standard CAPM for comparison purpose. Finally, the authors apply sophisticated econometrics methods that help in lessening the problem of non-synchronous trading and the issue of non-normality of returns distribution.

Ever since Mead, sociology has maintained a deep divide between human and non human animals. In effect, Mead constructed humans as having capacities that he saw lacking in animals. Recent research on animals has challenged the traditional ideas of Mead and others by providing evidence of animal intelligence, adaptability, selfawareness, emotionality, communication and culture. This paper examines the human‐animal relationship as presented in Introductory Sociology Textbooks to see if this new research on animals has allowed us to move beyond Mead. We find outdated information and confused thinking on such topics as the relationship between language and culture, the development of the self in animals, and the role of instinct, socialization and culture in animal behavior. We conclude that, with few exceptions, the main function of the treatment of animals in these texts is to affirm the hard line that sociology has always drawn between humans and other species.

This paper aims to build on current analytics and Big Data definitions and strategies from the literature to develop an overall strategic model connecting knowledge management strategy (KMS) for intellectual capital (IC) acquisition and business use. It also extends the IC research stages to a fifth stage of IC research including IC strategic intent.

A literature review highlights the connections among strategic intent, firm strategy, KMS and a data analytics strategy aligned with firm and KMS strategic intent. An extended model of the interrelationships is developed from the prior research.

A model framework was developed from the literature that connects Big Data to achieve the goals of a firm KMS and demonstrates how Big Data analytics (BDA) needs to shift from being a tactical tool to a strategic knowledge management tool directed by the overall strategy and strategic intent of the firm.

The model presented needs to be empirically tested over a sample of companies and periods to determine if performance improves using this model.

Use of this model proposes that strategic intent will be enhanced and improve the capture of intellectual property derived from advanced analytics and increase sustainable advantages at firm.

The social implications of lack of strong privacy laws coupled with the possible elimination of millions of knowledge worker jobs creates a pressing need for more research into and identification of firm’s and government’s Big Data strategic use for both good and perhaps evil.

The research in this paper extends current models of IC development and adds strategic intent and collective intelligence as the fifth stage of IC research and presents an overall KMS/BDA model.

As the 75th anniversary of the British New Towns programme approaches, this chapter assesses the contribution that London New Towns have made to accommodating population growth in south-east England and examines the extent to which the original New Town principles have left a distinctive legacy in terms of social composition and self-containment. According to the evidence presented in this chapter, the London New Towns have tended to become less distinctive compared to their regional context, but at the same time they retain elements of the features that marked them out as different 40 years ago.

New Towns were exemplars of Utopian social and economic visions allied to Modernist ideas of design and architecture. Initially hailed as the answer to the ailments of the historic European city and the urgent need for housing after the War, they came under considerable scrutiny when the ideas of New Urbanism on design, density and community became one of the most vocal critics on Modernist town planning.

The UK Arts and Humanities Research Council recently funded a New Town Heritage Research Network Project. Drawing on case studies from the network, this chapter will refer to the original questions posed by the above-mentioned network project: How are the Utopian social and economic visions which accompanied the New Town Movement embodied in the masterplanning, urban design and architecture of the New Towns? How can the New Town architectural and urban design heritage be evaluated? How can future planning for these towns accommodate and build on this heritage in a meaningful way, and be integrated into regeneration and growth? How can key stakeholders in New Towns create an identity and pride for their town as well as a sense of belonging, by building cultural capital through their heritage, including architecture, public art and cultural activities?

This chapter will analyse how New Towns and their associated Modernist Heritage have been perceived by different audiences and are positioned in the overall heritage discourse including the question of a shared European Heritage.

This paper aims to explore the issues for middle‐level social work managers arising from the development of the new public management, with its emphasis on the intensification of work, the measurement of performance in service delivery, and cost efficiencies. This is commonly thought to have affected those working in human services such as social work adversely. This paper explores the nature of these consequences, from the point of view of those centrally placed in its implementation.

The methodology adopted in this paper is designed to acknowledge and explore the perceptions of middle‐level social work managers as they contribute to the social construction of the new public management. This is accomplished through in‐depth interviews with a sample of their number in Sweden and England.

The findings reveal that social work managers are not only comfortable dealing with budgets but also enjoy the autonomy this affords them in their relationship with their subordinates. The findings also reveal that they appreciate the benefits of the more generalised knowledges of management, used in their work with junior colleagues, who they attempted to lead rather than manage and who they respected as colleagues. This has further implications: the possibility of new career opportunities for these predominantly women managers.

The managers in social work see the knowledges gained from their position as managers as transferable to other areas of the public and private sectors, thereby opening up new career opportunities. They were also found to enjoy dealing with budget issues, contrary to earlier studies.

It is an irrefutable fact that all libraries, no matter what their size, will eventually run into storage problems. The solution may be, as with the British Library, to build more and more storage facilities at the cost of millions of pounds. However, for industrial libraries a request for more and more storage space is not a solution which is likely to be well received by higher management, especially as the cost of floor space in buildings escalates. Therefore, another answer must be found. This paper discusses a policy which has been adopted in the libraries of the Research Division of Beecham Pharmaceuticals. The policy involves the extensive use of microfiche holdings of journals in the libraries; to the surprise of many people this has not generated adverse reaction from the customers. The policy does not stop the library stock from growing but substantially reduces the rate of growth. It is not achieved, however, without an overall increase in cost which must be set against the alternative cost of additional storage space.