Michael Potter
- Published in print:
- 2008
- Published Online:
- January 2009
- ISBN:
- 9780199215836
- eISBN:
- 9780191721243
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199215836.001.0001
- Subject:
- Philosophy, Logic/Philosophy of Mathematics
Wittgenstein's philosophical career began in 1911 when he went to Cambridge to work with Russell. He compiled the Notes on Logic two years later as a kind of summary of the work he had done so far. ...
More
Wittgenstein's philosophical career began in 1911 when he went to Cambridge to work with Russell. He compiled the Notes on Logic two years later as a kind of summary of the work he had done so far. Russell thought that they were ‘as good as anything that has ever been done in logic’, but he had Wittgenstein himself to explain them to him. Without the benefit of Wittgenstein's explanations, most later scholars have preferred to treat the Notes solely as an interpretative aid in understanding the Tractatus (which draws on them for material), rather than as a philosophical work in their own right. This book demonstrates the philosophical and historical importance of the Notes. By teasing out the meaning of key passages, it shows how many of the most important insights in the Tractatus they contain. It discusses in detail how Wittgenstein arrived at these insights by thinking through ideas he obtained from Russell and Frege. And it uses a blend of biography and philosophy to illuminate the methods Wittgenstein used in his work. The book features the complete text of the Notes in a critical edition, with a detailed discussion of the circumstances in which they were compiled.Less
Wittgenstein's philosophical career began in 1911 when he went to Cambridge to work with Russell. He compiled the Notes on Logic two years later as a kind of summary of the work he had done so far. Russell thought that they were ‘as good as anything that has ever been done in logic’, but he had Wittgenstein himself to explain them to him. Without the benefit of Wittgenstein's explanations, most later scholars have preferred to treat the Notes solely as an interpretative aid in understanding the Tractatus (which draws on them for material), rather than as a philosophical work in their own right. This book demonstrates the philosophical and historical importance of the Notes. By teasing out the meaning of key passages, it shows how many of the most important insights in the Tractatus they contain. It discusses in detail how Wittgenstein arrived at these insights by thinking through ideas he obtained from Russell and Frege. And it uses a blend of biography and philosophy to illuminate the methods Wittgenstein used in his work. The book features the complete text of the Notes in a critical edition, with a detailed discussion of the circumstances in which they were compiled.
W. J. Mander
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780199230303
- eISBN:
- 9780191710643
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230303.001.0001
- Subject:
- Philosophy, History of Philosophy, Philosophy of Religion
Best known today as one of the earliest critics of John Locke, John Norris (1657-1711) incorporated ideas of Augustine, Malebranche, Plato, the Cambridge Platonists, and the scholastics into an ...
More
Best known today as one of the earliest critics of John Locke, John Norris (1657-1711) incorporated ideas of Augustine, Malebranche, Plato, the Cambridge Platonists, and the scholastics into an original synthesis that was highly influential on the philosophy and theology of his day. This book presents a study of this unjustly neglected thinker, and the different perspectives he offers on this seminal period in philosophical history.Less
Best known today as one of the earliest critics of John Locke, John Norris (1657-1711) incorporated ideas of Augustine, Malebranche, Plato, the Cambridge Platonists, and the scholastics into an original synthesis that was highly influential on the philosophy and theology of his day. This book presents a study of this unjustly neglected thinker, and the different perspectives he offers on this seminal period in philosophical history.
David Dowland
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198269298
- eISBN:
- 9780191683589
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198269298.001.0001
- Subject:
- Religion, Church History, History of Christianity
This book presents one of the first analytical accounts of Anglican theological training during its formative period, the 19th century. Until this time Oxford and Cambridge had been recognized as the ...
More
This book presents one of the first analytical accounts of Anglican theological training during its formative period, the 19th century. Until this time Oxford and Cambridge had been recognized as the most desirable sources of Anglican clergymen, but there was to be a surge of little-known colleges attended by lower-middle-class ordinands which cut across the assumption that the training received at the fashionable colleges was superior. The book discusses the official attitudes towards the innovation of training large numbers of middle-class and lower-middle-class men for the ministry in an industrial age where a shift of power to the lower classes was widespread.Less
This book presents one of the first analytical accounts of Anglican theological training during its formative period, the 19th century. Until this time Oxford and Cambridge had been recognized as the most desirable sources of Anglican clergymen, but there was to be a surge of little-known colleges attended by lower-middle-class ordinands which cut across the assumption that the training received at the fashionable colleges was superior. The book discusses the official attitudes towards the innovation of training large numbers of middle-class and lower-middle-class men for the ministry in an industrial age where a shift of power to the lower classes was widespread.
Kaushik Basu and Ravi Kanbur
- Published in print:
- 2008
- Published Online:
- May 2009
- ISBN:
- 9780199239115
- eISBN:
- 9780191716935
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199239115.003.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The Introduction outlines the Amartya Sen's career starting in the UK at the London School of Economics and then at Oxford. It also briefly mentions his time at Harvard and Cambridge. The chapter ...
More
The Introduction outlines the Amartya Sen's career starting in the UK at the London School of Economics and then at Oxford. It also briefly mentions his time at Harvard and Cambridge. The chapter discusses how he became interested in welfare economics during all this time. It then goes on to outline the content in this volume and the subsequent volume. Less
The Introduction outlines the Amartya Sen's career starting in the UK at the London School of Economics and then at Oxford. It also briefly mentions his time at Harvard and Cambridge. The chapter discusses how he became interested in welfare economics during all this time. It then goes on to outline the content in this volume and the subsequent volume.
Kaushik Basu and Ravi Kanbur
- Published in print:
- 2008
- Published Online:
- May 2009
- ISBN:
- 9780199239979
- eISBN:
- 9780191716874
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199239979.003.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The Introduction outlines the Amartya Sen's career starting in the UK at the London School of Economics and then at Oxford. It also briefly mentions his time at Harvard and Cambridge. The chapter ...
More
The Introduction outlines the Amartya Sen's career starting in the UK at the London School of Economics and then at Oxford. It also briefly mentions his time at Harvard and Cambridge. The chapter discusses how he became interested in poverty and basic needs during all this time. It then goes on to outline the content in the first volume and this second volume.Less
The Introduction outlines the Amartya Sen's career starting in the UK at the London School of Economics and then at Oxford. It also briefly mentions his time at Harvard and Cambridge. The chapter discusses how he became interested in poverty and basic needs during all this time. It then goes on to outline the content in the first volume and this second volume.
Scott Smith-Bannister
- Published in print:
- 1997
- Published Online:
- October 2011
- ISBN:
- 9780198206637
- eISBN:
- 9780191677250
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198206637.001.0001
- Subject:
- History, British and Irish Early Modern History, Social History
This book contains the results of the first large-scale quantitative investigation of naming practices in early modern England. It traces the history of the fundamentally ...
More
This book contains the results of the first large-scale quantitative investigation of naming practices in early modern England. It traces the history of the fundamentally significant human act of naming one's children during a period of great economic, social, and religious upheaval. Using in part the huge pool of names accumulated by the Cambridge Group for the History of Population and Social Structure, the book sets out to show which names were most commonly used, how children came to be given these names, why they were named after godparents, parents, siblings, or saints, and how social status affected naming patterns. The chief historical significance of this research lies in the discovery of a substantial shift in naming practices in this period: away from medieval patterns of naming a child after a godparent and towards naming them after a parent. In establishing the chronology of how parents came to exercise greater choice in naming their children and over the nature of naming practices, it successfully supersedes previous scholarship on this subject. Resolutely statistical and rich in anecdote, this exploration of this deeply revealing subject will have far-reaching implications for the history of the English family and culture.Less
This book contains the results of the first large-scale quantitative investigation of naming practices in early modern England. It traces the history of the fundamentally significant human act of naming one's children during a period of great economic, social, and religious upheaval. Using in part the huge pool of names accumulated by the Cambridge Group for the History of Population and Social Structure, the book sets out to show which names were most commonly used, how children came to be given these names, why they were named after godparents, parents, siblings, or saints, and how social status affected naming patterns. The chief historical significance of this research lies in the discovery of a substantial shift in naming practices in this period: away from medieval patterns of naming a child after a godparent and towards naming them after a parent. In establishing the chronology of how parents came to exercise greater choice in naming their children and over the nature of naming practices, it successfully supersedes previous scholarship on this subject. Resolutely statistical and rich in anecdote, this exploration of this deeply revealing subject will have far-reaching implications for the history of the English family and culture.
Terence Ball
- Published in print:
- 1994
- Published Online:
- November 2003
- ISBN:
- 9780198279952
- eISBN:
- 9780191598753
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198279957.003.0001
- Subject:
- Political Science, Political Theory
The opening chapter begins with a brief defence of the claim that interpretation is both inescapable and necessary. It then considers the strengths and shortcomings of several strategies of ...
More
The opening chapter begins with a brief defence of the claim that interpretation is both inescapable and necessary. It then considers the strengths and shortcomings of several strategies of interpretation before articulating and defending a `pluralist’ and `problem‐driven’ approach to the interpretation of texts in political theory.Less
The opening chapter begins with a brief defence of the claim that interpretation is both inescapable and necessary. It then considers the strengths and shortcomings of several strategies of interpretation before articulating and defending a `pluralist’ and `problem‐driven’ approach to the interpretation of texts in political theory.
Steven Casper
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199269525
- eISBN:
- 9780191710025
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269525.003.0005
- Subject:
- Business and Management, Political Economy
National institutional frameworks within the UK are oriented towards the promotion of radically innovative industries such as biotechnology. While the UK does have the best performing European ...
More
National institutional frameworks within the UK are oriented towards the promotion of radically innovative industries such as biotechnology. While the UK does have the best performing European biotechnology industry, it lags far behind the productivity of the US industry. The chapter argues that national institutional incentives within the UK are appropriate for biotechnology. However, public policy within the country has not developed an adequate system of commercializing science. Drawing on a case study of the Cambridge UK technology cluster, potential policies that could improve the performance of UK biotechnology sector are discussed.Less
National institutional frameworks within the UK are oriented towards the promotion of radically innovative industries such as biotechnology. While the UK does have the best performing European biotechnology industry, it lags far behind the productivity of the US industry. The chapter argues that national institutional incentives within the UK are appropriate for biotechnology. However, public policy within the country has not developed an adequate system of commercializing science. Drawing on a case study of the Cambridge UK technology cluster, potential policies that could improve the performance of UK biotechnology sector are discussed.
Mark McCartney
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199231256
- eISBN:
- 9780191710803
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199231256.003.0001
- Subject:
- Mathematics, History of Mathematics
This chapter presents a biography of William Thomson. Topics covered include his early years in Glasgow College, his experiences at Cambridge University, his election as the Chair of Natural ...
More
This chapter presents a biography of William Thomson. Topics covered include his early years in Glasgow College, his experiences at Cambridge University, his election as the Chair of Natural Philosophy at Glasgow, creation of the Physical and Chemical Laboratories of University College North Wales, and his scientific achievements.Less
This chapter presents a biography of William Thomson. Topics covered include his early years in Glasgow College, his experiences at Cambridge University, his election as the Chair of Natural Philosophy at Glasgow, creation of the Physical and Chemical Laboratories of University College North Wales, and his scientific achievements.
Alex D. D. Craik
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199231256
- eISBN:
- 9780191710803
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199231256.003.0002
- Subject:
- Mathematics, History of Mathematics
This chapter discusses the early education of William Thomson. It covers the influence of his father James Thomson in his education, his experiences at Glasgow College, at Cambridge University, and ...
More
This chapter discusses the early education of William Thomson. It covers the influence of his father James Thomson in his education, his experiences at Glasgow College, at Cambridge University, and preparation for the Glasgow chair.Less
This chapter discusses the early education of William Thomson. It covers the influence of his father James Thomson in his education, his experiences at Glasgow College, at Cambridge University, and preparation for the Glasgow chair.
Alastair Wood
- Published in print:
- 2008
- Published Online:
- May 2008
- ISBN:
- 9780199231256
- eISBN:
- 9780191710803
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199231256.003.0005
- Subject:
- Mathematics, History of Mathematics
This chapter focuses on the friendship between Sir G. G. Stokes and Kelvin. Kelvin was Stokes's principal correspondent over a period of fifty-six years. The correspondence between the two provide ...
More
This chapter focuses on the friendship between Sir G. G. Stokes and Kelvin. Kelvin was Stokes's principal correspondent over a period of fifty-six years. The correspondence between the two provide valuable insight not only into the research and research methods of two giants of 19th-century British science, but also into the day-to-day running of Cambridge and Glasgow Universities and of the Royal Societies of London and Edinburgh at a critical time in their histories. The family backgrounds and formative influences of Kelvin and Stokes, their life in Cambridge, their early research correspondence, professorships, marriages, and political activities are discussed.Less
This chapter focuses on the friendship between Sir G. G. Stokes and Kelvin. Kelvin was Stokes's principal correspondent over a period of fifty-six years. The correspondence between the two provide valuable insight not only into the research and research methods of two giants of 19th-century British science, but also into the day-to-day running of Cambridge and Glasgow Universities and of the Royal Societies of London and Edinburgh at a critical time in their histories. The family backgrounds and formative influences of Kelvin and Stokes, their life in Cambridge, their early research correspondence, professorships, marriages, and political activities are discussed.
Simcha Jong
- Published in print:
- 2009
- Published Online:
- May 2009
- ISBN:
- 9780199551170
- eISBN:
- 9780191720802
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199551170.003.0006
- Subject:
- Business and Management, Political Economy, Innovation
In order to understand better the development of the therapeutic biotech firms in the Munich region, Germany's largest and most successful biotech cluster, this chapter contrasts the development of ...
More
In order to understand better the development of the therapeutic biotech firms in the Munich region, Germany's largest and most successful biotech cluster, this chapter contrasts the development of Munich firms with that in the Cambridge region in the UK. The chapter proceeds as follows. First, it discusses how the comparative case study will increase the understanding of the mechanisms through which entrepreneurs in a new industry are able to overcome pre-existing institutional barriers to their firms' development. Second, it outlines the main organizational challenges with which biotech entrepreneurs in Cambridge and Munich have been confronted in building up a biotech firm. Third, it analyzes how Munich's and Cambridge's therapeutic biotech firms have relied on their institutional environments differently to develop their firms' capabilities to deal with these organizational challenges. Fourth, it discusses how the different institutional paths which Cambridge's and Munich's biotech entrepreneurs have followed to deal with key organizational challenges have affected the development of these firms. Finally, the main findings are summarized and some implications of this study for broader debates in the comparative institutional literature are suggested.Less
In order to understand better the development of the therapeutic biotech firms in the Munich region, Germany's largest and most successful biotech cluster, this chapter contrasts the development of Munich firms with that in the Cambridge region in the UK. The chapter proceeds as follows. First, it discusses how the comparative case study will increase the understanding of the mechanisms through which entrepreneurs in a new industry are able to overcome pre-existing institutional barriers to their firms' development. Second, it outlines the main organizational challenges with which biotech entrepreneurs in Cambridge and Munich have been confronted in building up a biotech firm. Third, it analyzes how Munich's and Cambridge's therapeutic biotech firms have relied on their institutional environments differently to develop their firms' capabilities to deal with these organizational challenges. Fourth, it discusses how the different institutional paths which Cambridge's and Munich's biotech entrepreneurs have followed to deal with key organizational challenges have affected the development of these firms. Finally, the main findings are summarized and some implications of this study for broader debates in the comparative institutional literature are suggested.
Shanta Acharya and Elroy Dimson
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199210916
- eISBN:
- 9780191705816
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199210916.001.0001
- Subject:
- Economics and Finance, Financial Economics
There is a profound linkage between the quality of a university and its financial resources. The universities of Oxford and Cambridge rank among the world's finest educational institutions, and are ...
More
There is a profound linkage between the quality of a university and its financial resources. The universities of Oxford and Cambridge rank among the world's finest educational institutions, and are able to draw on invested assets that are large by any standards. This book explores how the colleges that comprise these two universities make their investment decisions. Oxford and Cambridge are collegiate institutions, each consisting of a federal university and over thirty constituent colleges. While the colleges may have ostensibly similar missions, they are governed independently. Since they interpret their investment objectives differently, this gives rise to some remarkably dissimilar approaches to investment, which the book explores. It analyses the objectives, investment philosophy, asset management, and governance of over sixty college and university endowment funds. Drawing on research and discussions with Oxford and Cambridge investment bursars, the book investigate issues such as asset allocation and spending policy, which have a major influence on the institutions' financial health. This study reveals the colleges' individualism and diversity, and carefully analyses their strategies, which range from the traditional to cutting edge.Less
There is a profound linkage between the quality of a university and its financial resources. The universities of Oxford and Cambridge rank among the world's finest educational institutions, and are able to draw on invested assets that are large by any standards. This book explores how the colleges that comprise these two universities make their investment decisions. Oxford and Cambridge are collegiate institutions, each consisting of a federal university and over thirty constituent colleges. While the colleges may have ostensibly similar missions, they are governed independently. Since they interpret their investment objectives differently, this gives rise to some remarkably dissimilar approaches to investment, which the book explores. It analyses the objectives, investment philosophy, asset management, and governance of over sixty college and university endowment funds. Drawing on research and discussions with Oxford and Cambridge investment bursars, the book investigate issues such as asset allocation and spending policy, which have a major influence on the institutions' financial health. This study reveals the colleges' individualism and diversity, and carefully analyses their strategies, which range from the traditional to cutting edge.
Noel Malcolm
- Published in print:
- 2004
- Published Online:
- September 2007
- ISBN:
- 9780198564843
- eISBN:
- 9780191713750
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198564843.003.0001
- Subject:
- Mathematics, History of Mathematics
This chapter chronicles the life of John Pell in Sussex and Cambridge, from 1611 to 1629. Pell was born in the village of Southwick, in West Sussex (between Brighton and Shoreham-on-Sea), on March 1 ...
More
This chapter chronicles the life of John Pell in Sussex and Cambridge, from 1611 to 1629. Pell was born in the village of Southwick, in West Sussex (between Brighton and Shoreham-on-Sea), on March 1 1611. Pell matriculated as a ‘sizar’ of Trinity College, Cambridge, in the Easter term of 1624. Sizars were defined in the College statutes as ‘poor scholars’; they functioned as valets to the Fellows, and to other students, and their duties could include waiting tables in the Hall. Pell later returned to his native Sussex, where in the spring or early summer of 1629 he obtained his first employment, as a schoolmaster.Less
This chapter chronicles the life of John Pell in Sussex and Cambridge, from 1611 to 1629. Pell was born in the village of Southwick, in West Sussex (between Brighton and Shoreham-on-Sea), on March 1 1611. Pell matriculated as a ‘sizar’ of Trinity College, Cambridge, in the Easter term of 1624. Sizars were defined in the College statutes as ‘poor scholars’; they functioned as valets to the Fellows, and to other students, and their duties could include waiting tables in the Hall. Pell later returned to his native Sussex, where in the spring or early summer of 1629 he obtained his first employment, as a schoolmaster.
Nigel Yates
- Published in print:
- 1993
- Published Online:
- September 2011
- ISBN:
- 9780198270133
- eISBN:
- 9780191683916
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198270133.003.0009
- Subject:
- Religion, Church History, History of Christianity
The Oxford Tractarians represented the link between the old-fashioned high churchmen of the 18th century and the later Victorian ritualists. The Cambridge Ecclesiologists undoubtedly brought a new ...
More
The Oxford Tractarians represented the link between the old-fashioned high churchmen of the 18th century and the later Victorian ritualists. The Cambridge Ecclesiologists undoubtedly brought a new perspective to Anglican Church architecture and liturgy, but it was one which took a considerable degree of time to implement, to such an extent that some churches were largely untouched by it. Nevertheless, when the changes did finally succeed in transforming the liturgical life of the Church of England in a very radical, though at the same time rather reactionary, manner, they themselves became the accepted Anglican norm for another century, to such an extent that recent attempts to modify them have been condemned as an attack on a historical legacy. This chapter puts the liturgical changes of the 19th century into perspective, reassesses the speed with which they were carried out, and challenges some of the assumptions that have been made.Less
The Oxford Tractarians represented the link between the old-fashioned high churchmen of the 18th century and the later Victorian ritualists. The Cambridge Ecclesiologists undoubtedly brought a new perspective to Anglican Church architecture and liturgy, but it was one which took a considerable degree of time to implement, to such an extent that some churches were largely untouched by it. Nevertheless, when the changes did finally succeed in transforming the liturgical life of the Church of England in a very radical, though at the same time rather reactionary, manner, they themselves became the accepted Anglican norm for another century, to such an extent that recent attempts to modify them have been condemned as an attack on a historical legacy. This chapter puts the liturgical changes of the 19th century into perspective, reassesses the speed with which they were carried out, and challenges some of the assumptions that have been made.
Shanta Acharya and Elroy Dimson
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199210916
- eISBN:
- 9780191705816
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199210916.003.0001
- Subject:
- Economics and Finance, Financial Economics
This chapter begins with a discussion of educational endowments, focusing on those of the colleges and universities in the UK. It presents a background of educational endowments of the universities ...
More
This chapter begins with a discussion of educational endowments, focusing on those of the colleges and universities in the UK. It presents a background of educational endowments of the universities of Oxford and Cambridge followed by a description of data collection methods used for the study. Restricted versus unrestricted funds, size of endowment assets, higher education funding in the UK, funding of Ivy League universities compared to Oxford and Cambridge, and the accounting of endowments are discussed.Less
This chapter begins with a discussion of educational endowments, focusing on those of the colleges and universities in the UK. It presents a background of educational endowments of the universities of Oxford and Cambridge followed by a description of data collection methods used for the study. Restricted versus unrestricted funds, size of endowment assets, higher education funding in the UK, funding of Ivy League universities compared to Oxford and Cambridge, and the accounting of endowments are discussed.
Shanta Acharya and Elroy Dimson
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199210916
- eISBN:
- 9780191705816
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199210916.003.0002
- Subject:
- Economics and Finance, Financial Economics
Colleges in Oxford and Cambridge appoint an Investment Committee to oversee the management of endowment assets and related investments. The main tasks of this committee are determining strategic ...
More
Colleges in Oxford and Cambridge appoint an Investment Committee to oversee the management of endowment assets and related investments. The main tasks of this committee are determining strategic asset allocation, return and risk objectives, spending policy, the selection of fund managers, and an investment consultant; and in the case of the universities, determining the dividend. Investment Committees are therefore the key drivers of investment policy; their decisions directly influence an institution's intergenerational equity. The management structure, membership, demographics, and other characteristics of investment committees are discussed.Less
Colleges in Oxford and Cambridge appoint an Investment Committee to oversee the management of endowment assets and related investments. The main tasks of this committee are determining strategic asset allocation, return and risk objectives, spending policy, the selection of fund managers, and an investment consultant; and in the case of the universities, determining the dividend. Investment Committees are therefore the key drivers of investment policy; their decisions directly influence an institution's intergenerational equity. The management structure, membership, demographics, and other characteristics of investment committees are discussed.
Shanta Acharya and Elroy Dimson
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199210916
- eISBN:
- 9780191705816
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199210916.003.0003
- Subject:
- Economics and Finance, Financial Economics
In the world of endowment management, where the investment horizon may extend over centuries, investment decisions to support the objectives of endowed institutions pose a unique set of challenges. ...
More
In the world of endowment management, where the investment horizon may extend over centuries, investment decisions to support the objectives of endowed institutions pose a unique set of challenges. This chapter addresses the issues surrounding the definition of the investment objective. The establishment of a benchmark or policy portfolio for some endowments is a way of defining the investment objective, with the benchmark asset allocation reflecting that objective. Thus, the benchmark allocation of assets is responsible for providing resources for current operations while preserving purchasing power of assets in the long term. The benchmark therefore reflects the institution's approach to various aspects of managing the endowment, including risk.Less
In the world of endowment management, where the investment horizon may extend over centuries, investment decisions to support the objectives of endowed institutions pose a unique set of challenges. This chapter addresses the issues surrounding the definition of the investment objective. The establishment of a benchmark or policy portfolio for some endowments is a way of defining the investment objective, with the benchmark asset allocation reflecting that objective. Thus, the benchmark allocation of assets is responsible for providing resources for current operations while preserving purchasing power of assets in the long term. The benchmark therefore reflects the institution's approach to various aspects of managing the endowment, including risk.
Shanta Acharya and Elroy Dimson
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199210916
- eISBN:
- 9780191705816
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199210916.003.0004
- Subject:
- Economics and Finance, Financial Economics
Institutions have spending and investment policies to support their endowments. Spending policies help in determining issues in long-term asset allocation. The governing bodies of colleges face the ...
More
Institutions have spending and investment policies to support their endowments. Spending policies help in determining issues in long-term asset allocation. The governing bodies of colleges face the challenge of balancing the conflicting goals of supporting current operations and preserving endowment assets. Donors also expect their gifts to provide permanent support towards a specific activity, though colleges usually prefer undesignated or general donations. Spending policies act as referees in the perpetual game between current and future players. A clearly defined spending policy also frees up the asset allocation decisions and enables the fund manager to focus on investment issues.Less
Institutions have spending and investment policies to support their endowments. Spending policies help in determining issues in long-term asset allocation. The governing bodies of colleges face the challenge of balancing the conflicting goals of supporting current operations and preserving endowment assets. Donors also expect their gifts to provide permanent support towards a specific activity, though colleges usually prefer undesignated or general donations. Spending policies act as referees in the perpetual game between current and future players. A clearly defined spending policy also frees up the asset allocation decisions and enables the fund manager to focus on investment issues.
Shanta Acharya and Elroy Dimson
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199210916
- eISBN:
- 9780191705816
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199210916.003.0005
- Subject:
- Economics and Finance, Financial Economics
Institutional portfolios with long-term investment horizons, such as endowments, are best invested in assets capable of generating equity-like returns, including those with private equity and ...
More
Institutional portfolios with long-term investment horizons, such as endowments, are best invested in assets capable of generating equity-like returns, including those with private equity and absolute return strategies. To mitigate equity risks, portfolios also include fixed income, real estate, and other assets such as commodities or natural resources. Compared to larger US educational endowments, institutions in Oxford and Cambridge had less exposure to alternative assets and strategies. They have invested significantly more in direct property assets, and for the colleges it often appeared that their real estate was a counterpart to US holdings of fixed interest securities.Less
Institutional portfolios with long-term investment horizons, such as endowments, are best invested in assets capable of generating equity-like returns, including those with private equity and absolute return strategies. To mitigate equity risks, portfolios also include fixed income, real estate, and other assets such as commodities or natural resources. Compared to larger US educational endowments, institutions in Oxford and Cambridge had less exposure to alternative assets and strategies. They have invested significantly more in direct property assets, and for the colleges it often appeared that their real estate was a counterpart to US holdings of fixed interest securities.
