One of the puzzles regarding IPO’s is that the issuers rarely get upset about leaving substantial amounts of money on the table due to underpricing. The cost of underpricing is the number of shares sold multiplied by the difference between the first-day closing price and the offer price. The research sample of IPOs and JSE databases comprised, respectively, 160 and 321 new applicants for the years 1995-1999. New applicants comprising the research sample raised R12.55 billion with an underpricing cost exceeding R2.85 billion i.e., 22.71 percent of the IPO capital raised. This cost was found to be nearly 10 times greater than the R295 million paid in fees to the corporate advisors by the issuing companies. The prime beneficiaries of this discount were a select grouping of private placement investors at the discretion of the corporate advisors and directors. Mean unadjusted initial first day returns amounted to 55.04 percent. Public Offer IPO’s (solely or as a component of a Hybrid Offer) follow UK influenced corporate legal systems– both in legislative norm and empirical results. First day initial returns were presented per issuer List Board, Method and Type of Listing, IPO capital raised and disclosed use of proceeds. Internationally many theories have been raised as to what has become to be known as the short-run underpricing puzzle. The winner’s curse hypothesis is directly tested flowing from and the unique data availability. It was shown that South African Public and Hybrid IPO Offer methods bear an exceptionally close correlation to UK influenced corporate legal systems and as such proved a reliable empirical testing ground for the winners curse phenomena using the same methodology and equations as their international counterparts hereunder. The UK based corporate law and institutional arrangements in South Africa allow a direct test of the empirical implications of the winner’s curse hypothesis in pricing unseasoned new issues.

Die Auswertung von Mehrschleifen-Feynman-Integralen ist eine der größten Herausforderungen bei der Berechnung präziser theoretischer Vorhersagen für die am LHC gemessenen Wirkungsquerschnitte. In den vergangenen Jahren hat sich die Nutzung von Differentialgleichungen bei der Berechnung von Feynman-Integralen als sehr erfolgreich erwiesen. Es wurde dabei beobachtet, dass die von den Feynman-Integralen erfüllte Differentialgleichung oftmals in eine sogenannte kanonische Form transformiert werden kann, welche die Integration der Differentialgleichung mittels iterierter Integrale wesentlich vereinfacht. Das zentrale Ergebnis der vorliegenden Arbeit ist ein Algorithmus zur Berechnung rationaler Transformationen von Differentialgleichungen von Feynman-Integralen in eine kanonische Form. Neben der Existenz einer solchen rationalen Transformation stellt der Algorithmus keinerlei weitere Bedingungen an die Differentialgleichung. Insbesondere ist der Algorithmus auf Mehrskalenprobleme anwendbar und erlaubt eine rationale Abhängigkeit der Differentialgleichung vom dimensionalen Regulator. Bei der Anwendung des Algorithmus wird zunächst das Transformationsgesetz im dimensionalen Regulator entwickelt, um Differentialgleichungen für die Koeffizienten in der Entwicklung der Transformation herzuleiten. Diese Differentialgleichungen werden dann mit einem rationalen Ansatz für die gesuchte Transformation gelöst. Es wird zudem eine Implementation des Algorithmus in dem Mathematica Paket CANONICA vorgestellt, welches das erste veröffentlichte Programm dieser Art ist, das auf Mehrskalenprobleme anwendbar ist. CANONICAs Potential für moderne Mehrschleifenrechnungen wird anhand mehrerer nicht trivialer Mehrschleifen-Integraltopologien demonstriert. Die gezeigten Topologien hängen von bis zu drei Variablen ab und umfassen auch vormals ungelöste Topologien, die zu Korrekturen höherer Ordnung zum Wirkungsquerschnitt der Produktion einzelner Top-Quarks am LHC beitragen. / The evaluation of multi-loop Feynman integrals is one of the main challenges in the computation of precise theoretical predictions for the cross sections measured at the LHC. In recent years, the method of differential equations has proven to be a powerful tool for the computation of Feynman integrals. It has been observed that the differential equation of Feynman integrals can in many instances be transformed into a so-called canonical form, which significantly simplifies its integration in terms of iterated integrals. The main result of this thesis is an algorithm to compute rational transformations of differential equations of Feynman integrals into a canonical form. Apart from requiring the existence of such a rational transformation, the algorithm needs no further assumptions about the differential equation. In particular, it is applicable to problems depending on multiple kinematic variables and also allows for a rational dependence on the dimensional regulator. First, the transformation law is expanded in the dimensional regulator to derive differential equations for the coefficients of the transformation. Using an ansatz in terms of rational functions, these differential equations are then solved to determine the transformation. This thesis also presents an implementation of the algorithm in the Mathematica package CANONICA, which is the first publicly available program to compute transformations to a canonical form for differential equations depending on multiple variables. The main functionality and its usage are illustrated with some simple examples. Furthermore, the package is applied to state-of-the-art integral topologies appearing in recent multi-loop calculations. These topologies depend on up to three variables and include previously unknown topologies contributing to higher-order corrections to the cross section of single top-quark production at the LHC.

The transitions of young people to adulthood in the UK are a political threshold that has received much public attention. The trend for young people to abstain from elections relative to older generations is one example of the many reasons young people’s politics have come under the microscope of researchers who claim that the manner of young people’s transitions to citizenship represents an incipient crisis for the UK as a democratic system (Farthing, 2010; O’Toole, 2015, p. 175). This thesis responds to calls for more research into young people’s lives as sites for political subjectivity as well as, in the UK, for explorations of the main question in the field of young people’s politics: the extent and nature of young people’s relative disengagement from politics, and their marginalization from institutional politics in general The theoretical basis for this research project is a constructionist framework based on Bourdieu’s methods for uncovering social worlds (Bourdieu, 1996, p. 1) that also attempts to approach young people as equals in a political sense (Rancière, 1991, p. 229). Focus groups with young people at one vocational college, one secondary school and one youth group in the UK, utilizing participant photography as a data generation technique, provide the data for this study in an everyday politics approach. Young people’s perceptions of their everyday worlds are developed into broader discussions of political subjectivity, perceptions and actions.

Since the opening of European borders to new EU member states, a large number of immigrants continue to arrive in the UK and specifically to the East Midlands and East Anglia. To date, little or no research has been conducted to understand their experience and adjustment in this part of the country. With my research I aimed to find out how Lithuanian emigration affected family relationships and to identify issues that families face when a member emigrates on his/her own. I conducted qualitative research using different methods of data collection: online (skype) and face-to-face interviews, focus group and remote discussion techniques. Data has been coded using NVivo8 and NVivo10 and analysed using grounded theory. Findings show that the transition stage, while a family lives apart, puts an enormous strain on relationships within a family. However, it does not lead to nor causes break ups provided the family was a close unit prior to migration. The final results support the emerging theory that if the family had good relationships back in Lithuania, then all challenges of migration would not break that bond. On the contrary, they would strengthen relationships. My findings answer the initial research question as to whether migration to the UK affects Lithuanian family relationships by suggesting that it does not any more than any other stressful life events, e.g. death, childbirth, job loss, illness, house move, etc. Findings suggest that, if families discuss matters and look for the solutions together, the negative impact of migration might be avoided or lessened. My research contributes to the knowledge by applying novelty frameworks such as grounded theory and Layder’s theory of social domains in order to analyse and understand the Lithuanian migration phenomenon in the UK, particularly in East Anglia and the East Midlands.

This study explores Working from Home (WFH) as a model of work in a public organisation in London, which operates in the clinical-trials sector. It argues that WFH is used as a strategy that offers benefits both to the organisation and its employees. WFH is offered to all Clinical Research Associates (CRAs) who work as monitors of the whole process of a clinical trial. Based on a qualitative approach, using semi-structured interviews of 29 CRAs, managers and administrative staff and secondary data, this single-case study focuses on five topics that are part of the CRAs’ everyday life. These are work-life balance (WLB), cost reduction, the Information and Communications Technology (ICT) factor, the performance of the CRAs and the management of remote workers. In particular, the study identified that WFH had a positive effect on CRAs’ WLB. Moreover, it argues that WFH may offer significant assistance to organisational budgets and may reduce personal expenses. It found that existing ICT could cover all employees’ technological needs and reduce the requirement of managers to keep them physically present at a centralised workplace. Additionally, this thesis also identified that WFH improved CRAs’ performance, whilst it also highlighted that results-oriented management was the main managerial approach towards employees who work from a distance. The key contribution of the thesis is the examination of the CRA occupation through a contemporary perspective on the WFH phenomenon.

The portrayal of Muslims in British mainstream media, particularly newspapers, is a subject of significant academic interest. Previous studies find that British newspapers frequently represent Muslims as a distinct and homogenous group, associating them with terrorist groups and framing them as a cultural threat. Orientalist representations have been observed, depicting Muslims as inherently problematic. Nevertheless, Muslims' own self-representation remains understudied and underexamined. This research analyses the discourse of the Muslim News, the oldest, most enduring English-language newspaper catering to Muslims in the United Kingdom. Using Corpus Analysis and Critical Discourse Analysis, this thesis explores the similarities and differences in the discourses of the Muslim News and British mainstream newspapers from 1998 to 2009. The findings reveal that, while reproducing some narratives observed in mainstream press, the Muslim News (the MN) is introducing new representations that 'pitch' alternative stories about Muslims in the media. While sustaining certain representations, such as the collectivisation of Muslims, the MN challenges mainstream discourse. It highlights Islamophobic attacks that Muslims are subject to, including their negative portrayal in mainstream press, and suggests that these hegemonic representations are part of a 'Muslim penalty'. Furthermore, the MN counters mainstream news by taking Muslims outside the frames of representation that associate them with terrorism, conflict and violence. Sports coverage consistently emerges in the MN as an important space to re-negotiate and reframe mainstream media discourses on Muslims. Sports stories maintain newsworthiness while enabling the MN to diverge from the negative coverage of Muslims in mainstream press and celebrate Muslim champions. Comparing such representations in a newspaper by and for Muslims to those produced by mainstream press further exposes contemporary Orientalist discourses and should be a subject of further study.

Depuis les années 1970, l’économie britannique s’est transformée grâce au développement des activités de services. Jusqu’en 2007, l’exceptionnelle croissance économique du Royaume-Uni et la résistance du pays aux chocs conjoncturels ont été attribuées au dynamisme des services britanniques. Cette thèse s’attache à démontrer, par le biais d’une analyse de l’économie nationale, internationale et régionale, les particularités et les origines de cette expansion. De cette montée en puissance du secteur des services, nous retenons, notamment, le rôle de la déréglementation, les réformes institutionnelles et la série de privatisations menées par les gouvernements de Margaret Thatcher, ainsi que la création d’un cadre macroéconomique stable depuis l’arrivée au pouvoir du New Labour en 1997. Nous soulignons également la contribution de la mondialisation et des avancées technologiques qui ont permis de développer et d’échanger de nouveaux produits et services, d’amplifier les échanges entre les régions et à l’international et de renforcer la compétitivité. Force est de reconnaître, toutefois, que certaines faiblesses structurelles entravent le développement du secteur, notamment le manque d’investissement en capital humain et les performances médiocres du service public. Enfin, notre étude ne serait pas complète sans l’analyse des forces et des faiblesses du secteur financier au cours des trois décennies que couvre notre période d’étude. / Since the 1990s, the UK economy has been transformed by the development of services. Up until 2007, the exceptional economic growth in the UK and its resistance to cyclical shocks has been attributed to the dynamism of UK services. Through analysis of the national, international and regional economy, the aim of this thesis is to underline the particular features and origins of expansion of the service sector. The role of deregulation, institutional reforms and the privatisation of many state-owned industries carried out by Margaret Thatcher’s governments as well as the creation of a stable macroeconomic framework after 1997 when New Labour were ushered in, are of particular importance in explaining the rapid growth of the service sector. Globalisation and technological progress have also contributed to the development and trade of new products and services, increasing trade between regions on a national and international level and strengthening competition. However, a number of structural weaknesses inherent in the UK service economy must also be underlined, in particular weak investment in human capital and the mediocre quality of public services. Finally, the strengths and weaknesses of the financial sector during these three decades will be examined.

本研究旨於探討政策研究社群(STI policy research communities)在政策實務中所扮演的角色、與政策實務間的關係及互動，以及該社群隨著不同政策情境其所累積的知識結構。本文以英國科技政策研究社群SPRU及MIoIR為例，首先以Top-down的方式從整體制度及機構面進行探討，第二部份則進一步描述及探討SPRU及MIoIR這兩個研究社群在英國政策實務中所扮演的角色及定位。第三部份旨於探討在英國的政策研究及決策支援制度情境下，政策研究社群與政策實務間的互動關係，以及影響兩者關係的關鍵因素。第四部份則進一步探討如何橋接政策與研究之間的缺口，以及研究社群如何透過不同的研究成果擴散模式，進而政策產生影響與效益。第五部份，本文綜合英國科技政策社群所處之制度及機構情境、政策研究社群之知識產出、政策與研究之間的缺口、以及兩者間的互動關係，從Bottom-Up的角度提出一全面性的理論架構，填補過去文獻在探討政策與研究兩者間關係時，僅探討部份、或分析特定議題之理論缺口。 / The importance of scientific research which positively motivates economic growth has been widely recognised by governments of most countries in the world. A government needs to formulate policies for sustaining national developments, but a sound policy usually has to be evident by academic findings provided by academic researcher. On the opposite, an academic researcher can conduct research needed by the government only if they can be funded by the government. The mutual reliance on each other for academic researchers and the government as well as the relationship between them have been investigated previously in literature. The complex relationship between the government and researcher is modelled as “principal-agent relationship” (Pratt & Zeckhauser, 1985). The interdisciplinary STI (Science, Technology and Innovation) policy research, which seeks to solve socioeconomic problem at national level, creates knowledge much closer to what the government needs and can be used directly to inform policy formulation. The relationship between the government and STI policy research community is therefore much stronger and more sensitive than that between the government and other research communities. In the process of delivering research to policymakers, the agenda and concern underlying different interacting scenarios between actors are varied from academia, funding agency, governmental organisation and policy makers. Therefore, changing the way of communication is becoming important for academic researchers to make the whole process more smoothly or effectively. However, in this interacting process research actors not only need to turn around the language, but also change the perspective they view from different scenarios especially when there is conflicting interest or view exited between academia and politics. The purpose of this study aims to investigate in what way can STI policy research community influence policy as well as interaction between STI policy research community and the government by bottom-up approach, i.e. from STI policy researcher to the government and three different perspectives proposed by Allison (1971), i.e. 1) Bounded Rational Perspective, 2) Organisational Behaviour Perspective, and 3) Governmental Politics Perspective. This study selects the two prestigious research organisations in the UK- SPRU and MIoIR (formerly PREST) as the case study and a total of sixteen renown interviewees are interviewed, since the UK is the leading country in STI policy research and the most outstanding research organisations in the UK STI policy research community are SPRU and MIoIR which have contributed to STI policymaking since 1970s, interaction between the UK government and this research community are analysed. Further, the UK Technology Foresight programme undertaken jointly by SPRU and MIoIR is used as a representative event to demonstrate the responding strategy of STI policy research community to the UK government. It is found in this study that a successful contribution from STI policy research community to the government critically relies on appropriate responding strategies which are dependent on whom (on the government side) exactly the researcher is interacting with. A successfully interaction between researcher and the government takes a sound strategy which eventually lead to contribution of research to policy practice. Finally, this study develops several propositions for suggesting how to sustain effective policy contribution from STI policy researcher and sound interaction between STI policy research community and the government.

Seit 2002 wird das Standardkosten-Modell (SKM) als Ansatz zur Messung von Bürokratiekosten in einer Vielzahl von OECD-Ländern, darunter Deutschland und Großbritannien, angewendet. Im Zentrum dieser Arbeit steht die Frage, warum im Regulierungsreform-Nachzüglerland Deutschland die Ausweitung des Ansatzes auf den Bereich Bürger seit Jahren auf der politischen Agenda steht und bereits erste Schritte zur Umsetzung unternommen wurden, während SKM Bürger im Regulierungsreform-Vorreiterland Großbritannien scheinbar nie auf der Agenda stand. In Anlehnung an einen von Kingdon entwickelten Agenda-Setting-Ansatz werden Unterschiede im Bereich der Problemwahrnehmung, in der Bewertung der Policy SKM sowie im politischen Entstehungsprozess untersucht. Hierbei zeigt sich, dass hinsichtlich der Wahrnehmung des Problems der Bürokratiebelastung signifikante Unterschiede zwischen Deutschland und Großbritannien bestehen, die sich vor allem auf die in Deutschland höhere Intensität der Problemwahrnehmung beziehen. Weitere Unterschiede bestehen bezüglich der Bewertung der Policy SKM, die in Deutschland eine höhere Medienaufmerksamkeit erhält und allgemein positiver bewertet wird. Auch der Entstehungsprozess des SKM, der in Deutschland wesentlich stärker politisiert war als in Großbritannien, trägt zur Erklärung der beobachteten Unterschiede im Agenda-Setting bei. / Since 2002 the Standard Cost Model (SCM) has been used for the measurement of administrative burdens in several OECD countries, among them Germany and the UK. The central question explored in this article is why in the regulatory reform “laggard country” Germany the application of the SCM at the citizen level has been on the political agenda for several years, with the first steps already taken towards implementation, while in the regulatory reform “leader country” UK, the use of the SCM for the measurement of citizens’ administrative burdens has apparently never been on the agenda. Using an agenda setting model developed by Kingdon, differences in the areas of problem perception, assessment of the SCM as a policy, and the political introduction process of the policy are investigated. It is shown that regarding the perception of the problem of bureaucracy significant differences between Germany and the UK exist, in particular relating to the higher intensity of problem perception in Germany. Additional differences are identified regarding the assessment of the SCM policy which has received more media coverage in Germany and is also generally more positively received there. Differences identified in the introduction process, which in Germany has been much more politicised than in the UK, constitute additional explanatory factors.

Fluctuations in temperature and precipitation amounts due to climate change influence recharge rate of groundwater. Any variations in the amount of precipitation recharge and artificial discharge directly affect groundwater level and so the salt water intrusion rate in the aquifers, which are in contact with sea water. The purpose of this study is to determine the overall historical precipitation recharge trend in Sel&ccedil / uk sub-basin and to detect whether there is a decrease or increase in recharge amounts due to climate change since 1100 BC. Besides, it covers assessing the future position of the salt water-fresh groundwater interface as a result of possible fluctuations in climate and artificial discharge. For this purpose, numerical density dependent cross sectional groundwater flow with solute transport model was conducted using finite element approach. At first, current salt water-fresh water interface and artificial discharge related head changes in the aquifer were determined. Backward modeling was utilized to obtain concentration distribution in the year 1976 representing the last stage of the undisturbed period. Then, progradation of salt water-fresh water interface since 1100 BC to 1976 was modeled using calibrated parameters and current recharge value. As a result of sea-regression model simulations (1100 BC-1976) less degree of salt water intrusion than that of currently detected in the area was obtained. The result suggests that overall recharge amount in the last 3076 years must have been less than that of 1976. Moreover, future (2010-2099) position of the interface and head changes under the influence of both climate change and increasing water demand were determined. Future model simulations indicate that salt water-fresh water interface moves farther landward. However this movement is mostly due to increasing discharge amount rather than that of climatic changes.