The origins of formal collusion in Australian fire insurance 1870-1920

The market for insurance has become increasingly competitive in recent years. However, it has not always been so. At the end of the nineteenth century, it was characterized by a highly concentrated and tightly controlled oligopolistic market structure. As such, the history of the fire insurance industry provides an interesting case study in the development of collusive behaviour amongst firms. Up to 1897, pricing agreements among firms were generally short-lived, and were followed by periods of intense competition. After this point, an agreement was forged, which proved very resilient to market pressures and formed the basis of premium rate setting until the 1970s. This paper investigates the difference between this agreement and previous efforts to set premium rates, and points to some of the common features of the later compact, which explain its longevity.

The Relationship between TQM Practices and Quality Performance and the Role of Formal TQM Programs: An Australian Empirical Study

This article presents the findings from an empirical study examining the relationship between total quality management (TQM) practices and quality performance in Australian organizations. A comparison is made between organizations that have adopted formal TQM programs and organizations without a formal program in place. It was recognized that the lack of a formal program did not necessarily mean TQM principles were not being practiced. The findings show that the firms adopting formal TQM programs implement several TQM practices at a higher level than those that do not have TQM programs. This difference, however, is not apparent in the case of quality performance. Furthermore, the findings show the strong links between TQM practices and quality performance, and there is no significant difference between organizations implementing formal TQM programs and those organizations simply adopting TQM practices. This suggests that it is the adoption of quality practices that matters rather than formal programs per se.

Developing formal mathematical assessment for 4-to-8-year-olds

The assessment of children in their years before school and their first years of school has been, traditionally, informal. Further, assessment of children's mathematical skills at this level has been infrequent compared to social, emotional and physical assessments. However, there are contexts where reliable, valid, standardised data from assessment in mathematics are required. This paper outlines the development of two assessment tools for mathematics that were originally developed for such contexts. Item Response Theory (IRT) analyses enabled the construction of assessment forms that address the range of abilities of 4- to 8-year-old children, and provided the scales used for constructing formative and summative reports of achievement. A description of the development of the assessment tools and the IRT analysis that provides the reporting formats are presented together with some research uses of the tools.

A comprehensive formal ranking of the popularity of financial ratios in multivariate modeling of corporate collapse

This paper provides a fonnal ranking of the popularity of financial ratios in modeling corporate collapse. The analysis identified 48 financial ratios and ranked them according to their usefulness as portrayed in 53 studies that have utilized such ratios in modeling corporate collapse. The methodologies adopted in those studies are predominantly of the "multivariate" type. The 53 studies extend from 1966 to 2002, inclusive.

Interpersonal trust and formal controls in hierarchical relationships

This paper examines the influence of the level of interpersonal trust between superior and subordinate managers on the control behaviour of the former. On the basis of a questionnaire survey and interviews of senior managers from business organisations in Sri Lanka, and a survey of managers in Beijing-China the study explores the control behaviour of superior managers when their trust in a subordinate is high or low. Sri Lanka and China, societies in which the dependence on interpersonal trust is believed to be high, were chosen for the study to maximise the effect of interpersonal trust.

The findings of this study indicate that a superior’s high (low) trust in a subordinate is associated with a low (high) level of monitoring and a high (low) level of social interactions. The hypothesis that a superior’s high (low) level of trust is associated with a low (high) level of reliance on formal control was supported only in the Sri Lankan sample. These findings are at least indicative of control behaviour of superior managers in Sri Lanka and China and possibly of other countries in Asia. An understanding of the trust-sensitive control behaviour of managers in this region is particularly important for designing and implementing effective control systems for international organizations operating in the region.

Micro finance programs: caring for those missed by formal social protection mechanism

In line with the current global trend of economic and social restructuring, it has become essential to address the issue of poverty and social protection for the poorer segment of the population who are not covered by formal social protection mechanisms. Micro finance institutions (MFIs) in developing countries have been working towards poverty alleviation and enhancing social protection for the last few decades. MFI’s provision of financial assistance to the poor has been instrumental in improving the overall quality of the impoverished. Based on an in-depth qualitative study conducted across three different types of NGOs (Non Governmental Organization) in the Philippines, this study found a relationship between micro finance programs and improved social protection. The study reveals that MFIs have the ability to make a positive impact on areas such as entrepreneurship, education, housing, job security and income generation.

The role of formal mentoring on business success and self-esteem in participants of a new business start-up program

The current study investigated the relationship between career-related mentoring, psychosocial mentoring, business success, and self-esteem in participants of a program that was designed to assist in the establishment of a new business. Seventy-seven protégés and their matched mentors were included in the study. A comparison of mentor and protégé perceptions revealed that mentors considered themselves to provide higher levels of psychosocial support than did the protégés. Protégé perceptions of business success were predicted by the frequency of mentor contact and the level of career-related support provided by their mentor.

Interpersonal trust and formal controls in low systemic trust societies

This study is concerned with the role of interpersonal trust in management control. On the basis of a questionnaire survey and interviews of senior managers from business organisations in sri lanka, the study explores the control behaviour of superior managers when they trust or distrust their subordinates. Sri lanka, a society in which the dependence on interpersonal trust is high, was chosen for the study to maximise the effect of interpersonal trust.

The findings of this study indicate that a superior's high trust in a subordinate is associated with a low level of monitoring, a high level of social interactions, and a low reliance on formal controls. In contrast, a superior's low level of trust in a subordinate is associated with a high level of monitoring, a low level of social interactions, and a high reliance on formal controls. Because the data emanate from experienced senior managers, these findings are at least indicative of control behaviour of superior managers in sri lanka and possibly of similar countries in asia. An understanding of the control behaviour of managers in this region is particularly important for designing and implementing effective controls systems for firms, subsidiaries, branches or joint-ventures operating in the region.

Incorporating learning styles into an assessment of formal management development

Students are a primary product of the management education system. To assess the impact of a basic course, the change in competencies of students over the duration of the course is examined. This study found that even a basic subject design had a significant and substantial impact on the competence development of the students. From the perspective of students-as-products, the baseline provided here allows for the testing of alternative designs of educational systems, whereby alternative designs have to prove a benefit above and beyond that of a basic teaching system.

The assessment of formal management development : a method, a baseline and the need to incorporate learning styles

Purpose – To assess the impact of a course on the development of management competencies for students over the duration of the course, by examining changes in the competencies of the students. The potential impact of student learning styles was also examined in the study.

Design/methodology/approach – A “Pre, Post, Then” design and a combination of paired sample t-tests, and alpha and beta change statistics were used to examine the change in competencies over time.

Findings – This study found that even a standard subject design had a significant and substantial impact on the management competence development of the students.

Practical implications – From the perspective of students-as-products, the base line provided here allows for the testing of alternative designs of educational systems, whereby alternative designs have to prove a benefit above and beyond that of a basic teaching system. Therefore, the present study should assist the field of management development to create a range of design options.

Originality/value – This study applies a powerful and under-utilised research method to provide a base line of the amount of management development that can occur in a typical formal management course, but is unique in that it includes the impact of the students’ learning styles.

Visual narratives in the children's picture story book : an investigation of the extent to which the formal structuring of a visual narrative retrieves a pastiche of past experiences and images which in turn shapes and redirects the story

Throughout this research, the notion that illustrators of children's books embark on two types of activity has been reinforced at every turn. On one hand the artist acknowledges the external world by organising images of actions and events in the contexts of place and time. This process involves bringing ideas into a physical form and demands the structuring of characters, settings, and story development. Planning and decisions are informed by imperatives that recognise the need for conventions of articulation and communication to a particular target audience. These then become a mayor priority of bookmaking and are constantly impacted on by publishers1 demands and ethical constraints. The other perspective sees the illustrator as expresser where the core of visual narratives for children celebrates the potency of imagination. Here dreams, fantasies, memories and the unconscious become the conduits to shaping sequential images. The artist is engaged not simply in visually telling a story, but rather telling facets of his or her own story. This exegesis traces the evolution of my own picture story book Eddie's Fantastic Fortnight published by Five Mile Press Publishers in tandem with the insights and reflections of five of Australia's most prominent illustrators. It examines whether the structure invested in a visual narrative liberates expressive response, ascribing to the premise that bookmaking plays an informing role to imagination. Equally it adopts the alternative position which asserts that the essence of children's books is indeed fantasy, memory and dreams. This proposition views imagination and inspiration as the primary catalyst around which illustrators build their narrative. In the often lengthy processes of bookmaking, these considerations constantly shift. I have attempted to explore and reveal these mobile and ever changing priorities, not only in my own work, but also through leading exponents in the field.

Incorporating design explanation within formal object-oriented method (FOOM)

Requirements engineering is a commencing phase in the development of either software applications or information systems. It is concerned with understanding and specifying the customer's requirements of the system to be delivered. Throughout the literature, this is agreed to be one of the most crucial and, unfortunately, problematic phases in development. Despite the diversity of research directions, approaches and methods, the question of process understanding and management is still limited. Among contemporary approaches to the improvement of the current practice of Requirements Engineering, Formal Object-Oriented Method (FOOM) has been introduced as a new promising solution. The FOOM approach to requirements engineering is based on a synthesis of socio-organisational theory, the object-oriented approach, and mathematical formal specification. The entire FOOM specification process is evolutionary and involves a large volume of changes in requirements. During this process, requirements evolve through various forms of informal, semi-formal, and formal while maintaining a semantic link between these forms and, most importantly, conforming to the customer's requirements. A deep understanding of the complexity of the requirements model and its dynamics is critical in improving requirements engineering process management. This thesis investigates the benefits of documenting both the evolution of the requirements model and the rationale for that evolution. Design explanation explains and justifies the deliberations of, and decisions made during, the design activity. In this thesis, design explanation is used to describe the requirements engineering process in order to improve understandability of, and traceability within, the evolving requirements specification. The design explanation recorded during this research project is also useful in assisting the researcher in gaining insights into the creativity and opportunistic characteristics of the requirements engineering process. This thesis offers an interpretive investigation into incorporating design explanation within FOOM in order to extend and advantage the method. The researcher's interpretation and analysis of collected data highlight an insight-driven and opportunistic process rather than a strictly and systematically predefined one. In fact, the process was not smoothly evolutionary, but involved occasional 'crisis' points at which the model was reconceptualised, simplified and restructured. Therefore, contributions of the thesis lie not only in an effective incorporation of design explanation within FOOM, but also a deep understanding of the dynamic process of requirements engineering. The new understanding of the complexity of the requirements model and its dynamics suggests new directions for future research and forms a basis for a new approach to process management.