Editorial

Systemic Practice and Action Research -     

Editorial

Systemic Practice and Action Research -     

Knowing of the Unknowable

A number of systemic theories appear to be converging in conclusion. The conclusion is that things are inherently unknowable to the human mind. People are coming to know of the unknowable. This paper introduces such ideas in the context of systemic practice. Implications for efficiency, effectiveness, and ethical matters are discussed.     

Editorial

Systemic Practice and Action Research -     

Editorial

Systemic Practice and Action Research -     

In Search of Resonance

In this paper I explore the possibility of a complementary relationship between action research and the management and systems sciences. A range of purposes that action researchers and management and systems scientists pursue is initially set out. The paper then explores whether this diversity of purposes and the ways they recommend people to proceed may come together in a new whole that is greater than the sum of its parts. A potentially useful realization of this for practice is a reflexive process of critique, choice, and action, which is elaborated on. The paper then investigates what view of holism arises from the preceeding discussions.     

Editorial

Systemic Practice and Action Research -     

Editorial

Systemic Practice and Action Research -     

Character and OTU stability in five taxonomic groups

The character and OTU stability of classifications based on UPGMA clustering and maximum parsimony (MP) trees were compared for 5 datasets (families of angiosperms, families of orthopteroid insects, species of the fish genusIctalurus, genera of the salamander family Salamandridae, and genera of the frog family Myobatrachidae). Stability was investigated by taking different sized random subsamples of OTUs or characters, computing UPGMA clusters and an MP tree, and then comparing the resulting trees with those based on the entire dataset. Agreement was measured by two consensus indices, that of Colless, computed from strict consensus trees, and Stinebrickner's 0.5-consensus index. Tests of character stability generally showed a monotone decrease in agreement with the standard as smaller sets of characters are considered. The relative success of the two methods depended upon the dataset. Tests of OTU stability showed a monotone decrease in agreement for UPGMA as smaller sets of OTUs are considered. But for MP, agreement decreased and then increased again on the same scale. The apparent superiority of UPGMA relative to MP with respect to OTU stability depended upon the dataset. Considerations other than stability, such as computer efficiency or accuracy, will also determine the method of choice for classifications.     

Predicting returns and volatility with macroeconomic variables: evidence from tests of encompassing

Tests of forecast encompassing are used to evaluate one‐step‐ahead forecasts of S&P Composite index returns and volatility. It is found that forecasts over the 1990s made from models that include macroeconomic variables tend to be encompassed by those made from a benchmark model which does not include macroeconomic variables. However, macroeconomic variables are found to add significant information to forecasts of returns and volatility over the 1970s. Often in empirical research on forecasting stock index returns and volatility, in‐sample information criteria are used to rank potential forecasting models. Here, none of the forecasting models for the 1970s that include macroeconomic variables are, on the basis of information criteria, preferred to the relevant benchmark specification. Thus, had investors used information criteria to choose between the models used for forecasting over the 1970s considered in this paper, the predictability that tests of encompassing reveal would not have been exploited. Copyright © 2005 John Wiley & Sons, Ltd.