Purpose – To apply the theories of project management to the transformation of the British Expeditionary Force (BEF) from the colonial‐style army of 1914 into the victorious continental‐style armies of 1918. Design/methodology/approach – The methodological approach examines ten elements...

A few innovative companies are using sophisticated measurements of customer‐perceived value—such as conjoint analysis—to redesign segments of their organizations.

In this paper we re-examine the relationship between non-trading frequency and portfolio return autocorrelation. We show that in portfolios where security specific effects have not been completely diversified, portfolio autocorrelation will not increase monotonically with increasing non-trading,...

We examine the returns to UK government bonds before, during and between the phases of quantitative easing to identify the side effects for the market itself. We show that the onset of QE led to a sustained reduction in the costs of trading and removed some return regularities. However,...

We model the effects of quantitative easing on the volatility of returns to individual gilts, examining both the effects of QE overall and of the specific days of asset purchases. The action of QE successfully neutralized the six fold increase in volatility that had been experienced by gilts...

The appealing feature of the arbitrage-free Nelson--Siegel model of the yield curve is the ability to capture movements in the yield curve through readily interpretable shifts in its level, slope or curvature, all within a dynamic arbitrage-free framework. To ensure that the level, slope and...

The aim in this paper is to replicate and extend the analysis of visual technical patterns by Lo et al. (2000) using data on the UK market. A non?parametric smoother is used to model a nonlinear trend in stock price series. Technical patterns, such as the 'head?and?shoulders' pattern, that are...

Purpose – On 29 January 2001, Euronext LIFFE introduced single security futures contracts on a range of global companies. The purpose of this paper is to examine the impact that the introduction of these futures contracts had on the behaviour of opening and closing UK equity returns....