Yes / This chapter evaluates the consistency of the United Kingdom (UK) regulatory framework on shale gas with Commission Recommendation 2014/70/EU on minimum principles for the exploration and production of unconventional oil and gas. In the absence of European-wide legislation, European Union (EU) Member States have the right to determine the conditions for exploiting their unconventional energy sources. However, due to the environmental and human health risks associated with hydraulic fracturing, the EU has expressed its interest in ensuring adequate protection of the environment and to creating clear and transparent common standards for the benefit of operators, investors and the public while promoting the interests of those Member States which are currently exploring unconventional energy. It can be argued that the UK regime has been designed to address the environmental risks arising from hydraulic fracturing operations and as such it sets a high environmental threshold for operations. In fact, the UK legislation appears to be more comprehensive than in many other jurisdictions commercially exploiting shale gas, and therefore it has a potential to inform the content of any future harmonising measures on the exploration and extraction of such resources at the EU level.

Yes / Purpose – The purpose of this paper is to investigate the impact of insider trading on subsequent stock returns in the UK, with a specific focus on the impact of the global financial crisis of 2007-2008 on the relation between CEO and CFO stock purchases and returns. Design/methodology/approach – The empirical analysis uses 10,230 purchases executed in 679 UK firms by 1,477 directors during the period from 2000 to 2010. Subsequent market-adjusted stock returns are regressed on a set of firm-specific accounting, market and corporate governance variables as well as the characteristics of CEOs and CFOs. Additionally, the analysis distinguishes between the opportunistic and routine trades. Findings – The findings reveal that the position of the trading director and the nature of their trades are important in determining the impact on returns of insider trades. In particular, CEO purchases are on the whole more informative than CFO purchases and opportunistic purchases. The trades in the post-crisis period have a greater impact on subsequent stock returns. Research limitations/implications – The empirical analysis is limited to the trades made by two executives. Future research should consider inside trades by all directors and distinguish between executive and non-executive directors. Also, a behavioral measure should be developed to test if the financial crisis affected the trading behavior of directors and whether directors use insider trading strategically to signal information to the market. Practical implications – The impact of directors’ dealings on stock returns is not homogeneous. Financial analysts and investors should pay more attention to different types of trades and the identity of trading director. Originality/value – This paper, to the authors’ knowledge, provides the first attempt that combines in the same framework the identity and personal attributes of trading executive directors, firm-level corporate governance features, the nature of purchase transactions and the trading period characteristics. Furthermore the empirical analysis is carried out during a period that also covers the recent global financial crisis period and its immediate aftermath.

Yes / The paper explores the discrepancy between attitude and behavioural intention in ethical consumption, focusing on the role of techniques of neutralisation. Drawing on findings of 251 respondents in the UK, results suggest despite positive attitude towards ethical consumption, consumers are also susceptible to the techniques of neutralisation. Hierarchical and moderated regression analyses reveal that inclusion of the neutralisation construct moderates the influences of attitudes on behavioural intention, and advances the model’s predictive capacity. In spite of suggested positive attitude towards ethical consumption, real existing behaviour is frequently filtered through the techniques of neutralisation. The sample is restricted to in size and location, however the study clearly establishes techniques of neutralisation as a construct in the decision-making process, further warranting examination of each of the techniques. Summary statement of contribution: The study confirms validity of the addition of the neutralisation construct into the modified TPB model noted by Chatzidakis et al. (2007). It suggests improvement in predicting behavioural intention and shows the moderating effects the techniques of neutralisation have on constructs in the modified TPB model. The neutralisation construct is itself found to have a significant impact on moderating purchasing intention in ethical consumption.

Yes / This study examines the impact of internal corporate governance mechanisms on insurance companies’ risk-taking in the UK context. The study uses a panel data of all listed insurance companies on FTSE 350 over the 2005-2014 period. The results show that the board size and board meetings are significantly and negatively related to risk-taking. In contrast, the results show that board independence and audit committee size are statistically insignificant, but negatively related to risk-taking. The findings are robust to alternative measures and endogeneities. Our findings have important implications for investors, managers, regulators of financial institutions and effectiveness of corporate governance reforms that have been pursued.

No / According to Lowe and Phillipson (2006) the traditional binary division into `basic¿ and `applied¿ research, have recently been extended to a new category called `strategic¿ research, signifying research which is both inter-disciplinary and interacts with research users. Sharp and Dixon (2007) have argued that there are different level of strategic research, signifying different levels of interaction, resource sharing, and joint development of outputs. Drawing on this understanding, this paper considers two user-oriented `Integrated Urban Drainage¿ pilot projects conducted during 2006-7, in order to consider what insights these `not-quite¿ research projects can yield about the nature of strategic research. The paper finds that the pilots were similar to other inter-disciplinary research projects ¿ except that they were commissioned and partly managed by practitioners. Common dilemmas, for example about the inter-linkages between work packages and about the extent of stakeholder interaction, highlight the increasingly fluid boundaries between the categories of `policy evaluation¿, `policy pilot¿ and `research project¿. The paper concludes that the concepts of `researcher¿ and `research user¿ might be replaced with a more flexible idea about `research stakeholders¿ whose varied interests in projects require a flexible communication strategy to fulfil a range of needs.

No / This paper reflects on what is meant by interdisciplinary engagement in the context of two integrated urban water management research programmes in the UK and New Zealand. Different extents of interdisciplinary engagement in research teams are conceptualised on a continuum that ranges from rhetorical intentions to joint research. We discuss how interdisciplinary working in research programmes is shaped through the processes of bidding, research management and production of outputs. The paper concludes that if higher levels of interdisciplinarity are desired, they need to be specifically funded and planned for. In particular, funders may need to provide flexibility in relation to interdisciplinary outputs, which may be hard to specify at the start of a research programme.

No / This paper describes an institutional strategy (Ecoversity) to embed sustainable development across the full range of university activities and services and reflects on two different phases of Ecoversity providing illustrations and case examples of specific actions and changes that have occurred. The programme has begun to deliver tangible benefits to the institution and has begun to act as a catalyst for, and link up with other, internal initiatives that are seeking to reshape the university culture and core activities around sustainable development. The paper reflects on the process of change and describes a process model that captures many of the key elements that needed to be addressed to initiate change and scale up activities. The process model is helpful in analysing barriers to change and how change can be achieved. The project illustrates a conscious and deliberate process for embedding SD within a university culture and offers a coherent conceptual framework for describing change

No / Purpose To determine the test-retest reproducibility of accommodation measurements gathered in an unselected sample of primary school children. Methods Monocular and binocular amplitudes of accommodation (AA) were collected by five different Testers using the push-up method in an unselected sample of school children (n=137, age: 8.1±2.1-years). Testing was conducted on three occasions (average testing interval: 8-days) in 91.2% of the children. Results The median AA was 19.1D, the variation due to the identity of the Tester was 3.1D (p<0.001) and the within-subject variation (which takes the variation due to Tester identity into account) was 5.2D. Around 75-79% of children exhibited monocular AAs-12D when tested on the first occasion, but more than 90% exhibited an AA-12D when subsequently tested. Around 74-80% of those with an AA<12D on the first occasion had values-12D on subsequent testing even though no treatment had been undertaken. Poorer initial AA measurements were less likely to improve on repeat testing. Conclusions Our results reveal substantial intra-individual variation in AA measurements, raising questions about the usefulness of this test in children aged 4-12-years. We suggest that AA assessment may prove most useful in children in this age range as a pass/fail check for substantially reduced AA, for example, where the AA is <12D. Our sample would suggest that the prevalence of persistently reduced AA may be around 3.2% when tested under binocular conditions and 4-6.4% when tested monocularly.

No / This study aims to determine the concentration of 16 Polycyclic Aromatic Hydrocarbons (PAHs) in urban soils from Leeds in order to determine what the factors are controlling their distribution and abundances. Soil samples were collected across an area from Leeds. Gas chromatography with mass spectrometry (GC-MS) using selected ion monitoring (SIM) was used to identify and quantify PAHs in the soil samples with the aid of PAH external standards. The results showed the highest concentrations of total PAHs in sample L8 (1344 ng/g) taken from an area located near a parking site and road in Leeds and the lowest total concentration of the 16 PAHs in sample L16 (87 ng/g) taken from a private garden. The ratio of anthracene to anthracene plus phenanthrene AN/(AN + PH), fluoranthene to fluoranthene plus pyrene FLU/(PY+FLU) and benzo[a]anthracene to 228 (BaA/228) implied that the PAHs pollution originated from pyrogenic, biomass and petroleum combustion in the samples which were collected from Leeds city.

Yes / This study aims to determine the concentration of 16 Polycyclic Aromatic Hydrocarbons (PAHs) in urban soils from Leeds in order to determine what the factors are controlling their distribution and abundances. Soil samples were collected across an area from Leeds. Gas chromatography with mass spectrometry (GC-MS) using selected ion monitoring (SIM) was used to identify and quantify PAHs in the soil samples with the aid of PAH external standards. The results showed the highest concentrations of total PAHs in sample L8 (1344 ng/g) taken from an area located near a parking site and road in Leeds and the lowest total concentration of the 16 PAHs in sample L16 (87 ng/g) taken from a private garden. The ratio of anthracene to anthracene plus phenanthrene AN/(AN + PH), fluoranthene to fluoranthene plus pyrene FLU/(PY+FLU) and benzo[a]anthracene to 228 (BaA/228) implied that the PAHs pollution originated from pyrogenic, biomass and petroleum combustion in the samples which were collected from Leeds city.