The core activities of university teachers are in the areas of teaching and research. This article addresses the effect of age on the satisfaction of academics on these activities. Towards this end, a questionnaire was designed including several demographic questions such as age, gender, and rank. The questionnaire was administered to 1,102 university teachers in the UK. A total of 554 responses were received, giving a response rate of 50.3 per cent. Our results indicate that age has quite a different effect on academic teaching staff from on academic research staff. For example, the effect of age on teaching satisfaction indicates that the job satisfaction decreases with age but at a decreasing rate. On the other hand, our results for research satisfaction indicate that age affects job satisfaction positively but at a decreasing rate. Other reported regression analyses indicate that both teaching and research job satisfaction increase with rank and that women tend to be slightly more satisfied in their career than male counterparts. The findings from the latter regression analyses reveal somewhat weak relationships.

This article presents a new series of monthly equity returns for the British stock market for the period 1825-1870. In addition to calculating capital appreciation and dividend yields, the article also estimates the effect of survivorship bias on returns. Three notable findings emerge from this study. First, stock market returns in the 1825-1870 period are broadly similar for Britain and the United States, although the British market is less risky. Second, real returns in the 1825-1870 period are higher than in subsequent epochs of British history. Third, unlike the modern era, dividends are the most important component of returns.n this article, we present newly developed monthly indices of returns for the British stock market for the period 1825 to 1870. Such historical series of returns are of interest to economic historians for at least two reasons. Firstly, indices of returns can frequently serve as a measure of the levels and fluctuations of real economic activity, which may be particularly important in historical periods when real economic data is lacking. Secondly, series of returns can be used to assess the effects on an economy of major political, legal, or technological changes. Financial economists are also becoming increasingly interested in the historical returns of financial assets.

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While there has been several job satisfaction studies, very few of them are about the university teachers or academics in general. The present work examines not only how satisfied UK academics are with their primary tasks of teaching and research, but also their satisfaction with their pay. Using a binomial logit analysis on a survey data, the study found a strong positive relationship between pay satisfaction and gender, indicating that women academics are more satisfied than the men counterparts. The study also found that research and teaching satisfaction are negatively affected with increasing age and length of service in higher education respectively. Unsurprisingly, research and pay satisfaction are positively associated with rank. It was found that the engineering staff members are dissatisfied with their research but more significantly, their teaching. The implications of these findings are explored.

Unlike their English counterparts, Scottish partnership banks during the Industrial Revolution operated under partnership law which was similar to the French societe en commandite. The article suggests that the definitive feature of this partnership law was that it permitted partnerships to separate ownership from control and stock to be traded. Archival evidence also suggests that Scottish partnership banks had mechanisms to ameliorate potential insider opportunism arising from the separation of ownership from control. The available evidence also suggests that the ability of Scottish banks to separate ownership from control may have contributed to the relative stability of the banking system.Scotland, banks, partnerships, common law, civil law, banking stability, legal personality, unlimited liability,