Is the valuer the barrier to identifying the value of sustainability?

Purpose - Broad-scale investment in sustainability is limited due to the lack of evidence of the relationship between sustainability and the property’s market value. Although evidence is amassing and being analyzed through advanced modeling, this evidence is not being reflected in the valuation process. Valuers have a pivotal role in financial markets, in the reporting of asset values. Consequently, they are the current barrier in large-scale investment in sustainability, due to their lack of reporting or consideration of sustainability in the valuation process.

Design/methodology/approach - This research investigates, in the Australian context, whether valuers’ are incorporating sustainability as a consideration in the valuation process and their depth of reporting on it. Further, the research investigates whether valuers’ have the knowledge and skills to accurately report on sustainability in the valuation process. This research used an online survey to gather responses from valuers around Australia, using a combination of structured and semi-structured questions.

Findings - This paper has identified that valuers are identifying a value relationship between sustainability and market value, and clearly emphasizing that they are not the barrier to this relationship from a lack of inclusion in valuation practice. However, what this research has identified is that although valuers are acknowledging sustainability in their practice, they maybe inhibiting further investment in sustainability due to inaccurate or misjudged assessments of sustainability in valuations.

Practical implications - The research highlights the implications for the broader market and the valuation profession, as a result of the valuers’ current lack of knowledge, skills and ability to incorporate or consider sustainability in the valuation process. The potential for inaccurate knowledge regarding sustainability being incorporated in the valuation process is very high, and could potentially have litigious issues in the future.

Originality/value - The research has highlighted that although valuers are beginning to consider sustainability at some level in the valuation process, their current knowledge of sustainability and its implications to long term viability is limited and in some cases grossly inaccurate. Consequently, this research has identified there is an imperative requirement for investigation into appropriate, accurate knowledge development in the field of sustainability for the valuation profession.

The effect of financial constraints, investment policy, product market competition and corporate governance on the value of cash holdings

This study empirically investigates the value shareholders place on excess cash holdings and how shareholders’ valuation of cash holdings is associated with financial constraints, firm growth, cash-flow uncertainty and product market competition for Australian firms from 1990 to 2007. Our results indicate that the marginal value of cash holdings to shareholders declines with larger cash holdings and higher leverage. However, firms that are more financially constrained, that have higher growth rates and that face greater uncertainty exhibit a higher marginal value of cash holdings. These findings are consistent with the explanation that excess cash holdings are not necessarily detrimental to firm value. Firms with costly external financing and that also save more cash for current operating and future investing needs find that the market values these cash hoarding policies favourably. Finally, there is limited evidence of an association between various corporate governance measures and the value of cash holdings for a shorter sample period.

The value of executive director share ownership and discretionary accruals

Purpose – The purpose of this paper is to investigate the relation between the value of executive director share ownership and discretionary accruals.

Design/methodology/approach – This study uses a dataset of 1,173 firm-year observations drawn from 188 Australian listed companies for the period 2000-2006. The analysis is based on multivariate regression analysis and ordinary least square models were used to investigate the relation between the value of managerial ownership and discretionary accruals. The issue of potential endogeneity is addressed by using a simultaneous equation system.

Findings – A negative relation is found between value of managerial share ownership and discretionary accruals at lower levels of value of ownership, which is consistent with the theorised incentive alignment that as the managers commit more resources to their firms, stakeholders impose less contractual constraints specified in terms of accounting numbers and managers make lower accrual adjustments. After a certain level of value of ownership is attained, a positive relations seen, consistent with increased discretionary accrual adjustments associated with stakeholders anticipating managerial entrenchment. Also, it is found that these results are driven by firms with income increasing, as opposed to income decreasing, discretionary accruals.

Practical implications – Shares and options are forming an increasing proportion of executive remuneration that continues to be the subject of much debate amongst regulators and in the media. Showing that the value of share ownership may be an effective internal governance mechanism to help align incentives adds to the debate and has policy implications.

Originality/value – The paper's primary contribution is finding that the value (as opposed to proportion) of share ownership, typically representing a sizeable proportion of managers' undiversified wealth, is a potentially direct driver of theorised incentive alignment and entrenchment effects associated with share ownership.

The final piece of the puzzle : assessment of information literacy in graduate medical students

Deakin University graduate entry medical students come from a varied knowledge base with regard to information research.

Assessment for the learning outcomes of information literacy modules will help to determine effective development of information searching skills for future clinical practice, teaching effectiveness, and identification of skills requiring additional support.

Assessment aims to provide encouragement to engage with the content being taught.

The value of circles and the dangers of straight lines

This article focuses on how respectful learning relationships based on reciprocity between a Anglo-western raised educator and South Sudanese Australian students and graduates in social work and welfare courses in a regional location have (re)shaped the development of a research process. A reflective critique is intertwined with a description of my search (as an experienced practitioner but new researcher) for an appropriate ethical cross cultural framework for researching and advocating with a small ethnic population in a regional location. This includes a description of the process of exploring the need for, and positioning of, changing and re-creating relationships between the ‘researcher(s)’ and the ‘researched’ as co-authors; co-researchers; collaborators and participants to address issues of selfdetermination and power in the context of cross cultural research, education and human rights. The motivation to research seems a pivotal part of ethics in cross cultural research. As an educator I became concerned that the courses I taught in, and my own teaching practices, were (unintentionally) discriminatory. There appeared to be a lack of acknowledgement and/or action regarding the ingrained Western whiteness permeated and privileged knowledge and approaches in the construction and delivery of courses. I did not think I was adequately responding to, recognising or incorporating the different knowledge’s, strengths and needs of South Sudanese Australian students and graduates. There was a lack of fit between the academic rhetoric of human rights and diversity and my/our educator practice. This article explores the ‘corralling’ effect of mainstream research culture with attention to its potential for seduction and corruption that tends to separate the passion from the researcher, the researcher from the researched, and the actual issue(s) of concern ….from everyone.

Debating the capacity of information and communication technology to promote inclusion

This chapter begins with an exploration of the digital divide in the Australian context. This discussion is followed by an examination of online education, professional development and the capacity of ICT to enhance the well-being of practitioners. The chapter then focuses on the use of ICT in human services and the rise of computer mediated self help and support groups. The potential for ICT to promote and extend political participation is also explored as well as the role of ICT in global development. Throughout, the potential for inclusion and exclusion is highlighted, using examples and critical analysis for exploring the inclusionary and exclusionary capacity of ICT.

Managing post-discharge care at home: an analysis of patients' and their carers' perceptions of information received during their stay in hospital

This small-scale study carried out in a Melbourne metropolitan hospital explored patients’ and their carers’ perceptions of information, adequacy of information, and their utilization of information concerning post-discharge care received from health professionals during their stay in hospital. The research design consisted of two stages. Stage one involved a qualitative approach using focused interviews of five pairs of patients and their carers, 2 weeks after discharge from hospital. Five main themes emerged from the content analysis of the interview transcripts: information given by health professionals to patients and carers, patients’ and carers’ psychological well-being, activities of daily living, caring tasks of the patients, and community linkages. A quantitative approach was used for stage two involving two sets of questionnaires, one for the patient and one for the carer, developed from the themes identified in stage one. A pilot study was conducted on three pairs of patients and their carers, 2 weeks after discharge from hospital. The main study consisted of a convenience sample of 40 pairs of patients and their carers who completed the questionnaires 2 weeks post-discharge. Data analysis of stage two of the study consisted of descriptive statistics and cross-tabulations. The main findings suggested that carers received very little information from health professionals concerning their patients’ health problems and care at home. The carers’ health and employment states were often not considered in their patients’ discharge plan. Carers who were present with their patients when they received information concerning post-discharge care experienced a decrease in anxiety during their patients’ convalescence at home, greater satisfaction with the information they received, and their patients experienced fewer medical problems post-discharge. The implications for nursing practice and research include recommendations for a more effective system of discharge planning, and further research to include a larger population with a more varied group of participants.