Do Big-Four affilitates earn audit fee premiums in emerging markets?

The paper investigates whether Big-Four affiliated (B4A) firms earn audit premiums in an emerging economy context, using Bangladesh as a case. The joint determination of audit and non-audit service fees is also examined using a sample of 122 companies listed in the Dhaka Stock Exchange. Our findings reveal that although the B4A firms do not generally earn a fee premiumin Bangladesh, they charge higher audit fees for clients not purchasing non-audit services. This suggests that the B4A firms may actually lower audit fees to attract non-audit services, and cross subsidizes audit fees through non-audit-services fees. The lack of a B4A premium implies that there is lack of quality audit in emerging markets. We also document that audit and non-audit service fees are jointly determined in Bangladesh. Thus, we provide evidence of joint determination of audit and non-audit service fees in an emerging economy context.

Audit pricing and product differentiation in small private firms : evidence from Thailand

Purpose – There is limited evidence on how differences in economic environments affect the demand for and supply of auditing. Research on audit pricing has mainly focused on large client markets in developed economies; in contrast, the purpose of this paper is to focus on the small client segment in the emerging economy of Thailand which offers a choice between auditors of two different qualities. Design/methodology/approach – This paper is based on a random stratified sample of small clients in Thailand qualifying for audit exemption. The final sample consists of 1,950 firm-year observations for 2002-2006. Findings – The authors find evidence of product differentiation in the small client market, suggesting that small firms view certified public accountants as superior and pay a premium for their services. The authors also find that audit fees have a positive significant association with leverage, metropolitan location and client size. Audit risk and audit opinion are not, however, significantly associated with audit fees. Furthermore, the authors find no evidence that clients whose financial year ends in the auditors’ busy period pay significantly higher audit fees, and auditors engage in low-balling on initial engagements to attract audit clients. Research limitations/implications – The research shows the importance of exploring actual decisions regarding audit practice and audit pricing in different institutional and organizational settings. Originality/value – The paper extends the literature from developed economies and large/listed market setting to the emerging economy and small client market setting. As far as the authors are aware, this is the first paper to examine audit pricing in the small client market in an emerging economy.

Towards a quantitative theory of epidermal calcium profile formation in unwounded skin

We propose and mathematically examine a theory of calcium profile formation in unwounded mammalian epidermis based on: changes in keratinocyte proliferation, fluid and calcium exchange with the extracellular fluid during these cells' passage through the epidermal sublayers, and the barrier functions of both the stratum corneum and tight junctions localised in the stratum granulosum. Using this theory, we develop a mathematical model that predicts epidermal sublayer transit times, partitioning of the epidermal calcium gradient between intracellular and extracellular domains, and the permeability of the tight junction barrier to calcium ions. Comparison of our model's predictions of epidermal transit times with experimental data indicates that keratinocytes lose at least 87% of their volume during their disintegration to become corneocytes. Intracellular calcium is suggested as the main contributor to the epidermal calcium gradient, with its distribution actively regulated by a phenotypic switch in calcium exchange between keratinocytes and extracellular fluid present at the boundary between the stratum spinosum and the stratum granulosum. Formation of the extracellular calcium distribution, which rises in concentration through the stratum granulosum towards the skin surface, is attributed to a tight junction barrier in this sublayer possessing permeability to calcium ions that is less than 15 nm/s in human epidermis and less than 37 nm/s in murine epidermis. Future experimental work may refine the presented theory and reduce the mathematical uncertainty present in the model predictions.

Deep geothermal: The ‘Moon Landing’ mission in the unconventional energy and minerals space

Deep geothermal from the hot crystalline basement has remained an unsolved frontier for the geothermal industry for the past 30 years. This poses the challenge for developing a new unconventional geomechanics approach to stimulate such reservoirs. While a number of new unconventional brittle techniques are still available to improve stimulation on short time scales, the astonishing richness of failure modes of longer time scales in hot rocks has so far been overlooked. These failure modes represent a series of microscopic processes: brittle microfracturing prevails at low temperatures and fairly high deviatoric stresses, while upon increasing temperature and decreasing applied stress or longer time scales, the failure modes switch to transgranular and intergranular creep fractures. Accordingly, fluids play an active role and create their own pathways through facilitating shear localization by a process of time-dependent dissolution and precipitation creep, rather than being a passive constituent by simply following brittle fractures that are generated inside a shear zone caused by other localization mechanisms. We lay out a new theoretical approach for the design of new strategies to utilize, enhance and maintain the natural permeability in the deeper and hotter domain of geothermal reservoirs. The advantage of the approach is that, rather than engineering an entirely new EGS reservoir, we acknowledge a suite of creep-assisted geological processes that are driven by the current tectonic stress field. Such processes are particularly supported by higher temperatures potentially allowing in the future to target commercially viable combinations of temperatures and flow rates.

Who really pays for urban infrastructure? : the impact of developer infrastructure charges on housing affordability in Brisbane, Australia

This thesis advances the understanding of the impact of developer infrastructure charges on housing affordability in Brisbane, Australia through the development of an econometric model and empirical analysis. The results indicate substantial on-passing of these government charges to purchasers of both new and existing homes, thus negatively impacting housing affordability across the whole community. The results of this thesis will inform policy makers and assist in the development of evidence based policy related to housing affordability and funding of urban infrastructure. Being generic, the econometric model is expected to be a tool that is suitable for estimating similar house price effects in other housing markets.

Modular design of profluorescent polymer sensors

A simple modular strategy for the synthesis of profluorescent nitroxide containing polymers is described. The incorporation of an epoxide as a pendant functionality on a polymer backbone synthesized using ATRP and subsequent nucleophilic ring-opening with sodium azide gave hydroxyl and azide functionality within a 3-bond radius. Orthogonal coupling chemistry then allowed the independent attachment of fluorophore and nitroxide groups in close proximity, giving rise to a profluorescent polymer. Validation of the viability of these materials as fluorescent sensors is demonstrated through efficient fluorescence switch-on observed when the materials are exposed to a model reductant or carbon-centred radical source.

Emergence in interactive artistic visualization

This research draws on theories of emergence to inform the creation of an artistic and direct visualization. This is an interactive artwork and drawing tool for creative participant experiences. Emergence is characteristically creative and many different models of emergence exist. It is therefore possible to effect creativity through the application of emergence mechanisms from these different disciplines. A review of theories of emergence and examples of visualization in the arts, is provided. An art project led by the author is then discussed in this context. This project, Iterative Intersections, is a collaboration with community artists from Cerebral Palsy League. It has resulted in a number of creative outcomes including the interactive art application, Of me with me. Analytical discussion of this work shows how its construction draws on aspects of experience design, fractal and emergent theory to effect perceptual emergence and creative experience as well as to facilitate self-efficacy.

Developer charges and housing affordabilty in Brisbane, Australia

Purpose - This paper empirically examines the effect of developer charges on housing affordability in Brisbane, Australia. Developer paid fees or charges are a commonly used mechanism for local governments to pay for new urban infrastructure. Despite numerous government reports and many years of industry advocacy, there remains no empirical evidence in Australia to confirm or quantify passing on of these charges to home buyers. Design/methodology/approach - This research applies a hedonic house price model to 4,699 new and 25,053 existing house sales in Brisbane from 2005 to 2011. Findings – The findings of is research are consistent with international studies that support the proposition that developer charges are over passed. This study has provided evidence that suggest developer charges are over passed to both new and existing homes in the order of around 400%. Research limitations/implications - These findings suggest that developer charges are thus a significant contributor to increasing house prices and reduced housing affordability. Practical/Social Implications: By testing this effect on both new and existing homes, this research provides evidence in support of the proposition that not only are developer charges over passed to new home buyers but also to buyers of existing homes. Thus the price inflationary effect of these developer charges are being felt by all home buyers across the community, resulting in increased mortgage repayments of close to $1000 per month. Originality/value - This is the first study to empirically examine the impact of developer charges on house prices in Australia. These results are important as they will inform governments on the outcomes of growth management strategies on housing affordability, providing the first evidence of its kind in Australia.

Who are our repeating students? Profiling students persisting after failure

Research on attrition has focused on the economic significance of low graduation rates in terms of costs to students (fees that do not culminate in a credential) and impact on future income. For a student who fails a unit and repeats the unit multiple times, the financial impact is significant and lasting (Bexley, Daroesman, Arkoudis & James 2013). There are obvious advantages for the timely completion of a degree, both for the student and the institution. Advantages to students include fee minimisation, enhanced engagement opportunities, effectual pathway to employment and a sense of worth, morale and cohort-identity benefits. Work undertaken by the QUT Analytics Project in 2013 and 2014 explored student engagement patterns capturing a variety of data sources and specifically, the use of LMS amongst students in 804 undergraduate units in one semester. Units with high failure rates were given further attention and it was found that students who were repeating a unit were less likely to pass the unit than students attempting it for the first time. In this repeating cohort, academic and behavioural variables were consistently more significant in the modelling than were any demographic variables, indicating that a student’s performance at university is far more impacted by what they do once they arrive than it is by where they come from. The aim of this poster session is to examine the findings and commonalities of a number of case studies that articulated the engagement activities of repeating students (which included collating data from Individual Unit Reports, academic and peer advising programs and engagement with virtual learning resources). Understanding the profile of the repeating student cohort is therefore as important as considering the characteristics of successful students so that the institution might be better placed to target the repeating students and make proactive interventions as early as possible.

VFT performance of a 180/110 mm co-axial gap in SF6 up to 4 bar absolute

Disconnector switch operation in GIS generates VFT voltages in the system. It is important, for insulation co-ordination purposes, to obtain accurate VFT V-t data for typical gap geometries found in GIS. This paper presents experimentally obtained VFT V-t data for a 180/1 lOmm co-axial gap. The VFT has a time to first peak of 35 ns and a oscillation frequency of 13,6 MHz. Due to the location of the voltage divider in a compartment adjacent to the gap, a correction factor of 1.1 is used to relate the measured breakdown voltage to that in the gap. Positive polarity VFT V-t data is presented for 1, 2, 3 and 4 bar absolute and negative polarity VFT data for 3 and 4 bar absolute. Two methods of generating the VFT's are used. The first is to power up the test transformer at power frequency. The second is to generate a switching impulse by discharging a capacitor into the primary of the test transformer.

TV Carriage Fee Disputes Hurt Consumers the Most

More than 14 million Dish Network subscribers have been without Breaking Bad, Mad Men, and The Walking Dead since June when the satellite provider pulled AMC Networks—AMC, Sundance, IFC, and WE tv—from its lineup in a dispute over carriage fees. The tactic is called a blackout, and it’s becoming increasingly common in the television landscape as pay-TV operators and station owners battle over the nearly $5 billion at stake in the next 5 years.

Infrastructure Disputes Shape Future of Streaming Media

In November 2010, tension between Internet infrastructure companies boiled over in a dispute between content distribution network (CDN) Level 3 and Internet service provider (ISP) Comcast. Level 3, a distribution partner of Netflix, accused Comcast of violating the principles of net neutrality when the ISP increased distribution fees for carrying high bandwidth services. Comcast justified its actions by stating that the price increase was standard practice and argued Level 3 was trying to avoid paying its fair share. The dispute exemplifies the growing concern over the rising costs of streaming media services. The companies facing these inflated infrastructure costs are CDNs (Level 3, Equinix, Limelight, Akamai, and Voxel), companies that host streaming media content on server farms and distribute the content to a variety of carriers, and ISPs (Comcast, Time Warner, Cox, and AT&T), the cable and phone companies that provide “last mile” service to paying customers. Both CDNs and ISPs are lobbying government regulators to keep their costs at a minimum. The outcome of these disputes will influence the cost, quality, and legal status of streaming media.

Submission to Senate Economics References Committee, An Inquiry in to Affordable Housing

Developer paid fees or infrastructure charges are a commonly used mechanism for local governments to pay for new infrastructure. However, property developers claim that these costs are merely passed on to home buyers, with adverse effects to housing affordability. Despite numerous government reports and many years of industry advocacy, there remains no empirical evidence in Australia to confirm or quantify this passing on effect to home buyers and the consequent effect on housing affordability. Hence there remains no data from which governments can base policy decision on, and the debate continues. This research examines the question of the impact of infrastructure charges on housing affordability in Australia. It employs hedonic regression methods to estimate the impact of infrastructure charges on house prices and vacant lot prices in Brisbane, Australia during 2005-2011, using a data set of 29,752 house sales, comprising 4,699 new house sales and 25,053 existing house sales and 13,739 lot sales. The regression results for the effect of infrastructure charges on house prices in Brisbane indicated that for every $1.00 of infrastructure charge levied on developers, all house prices increase by $3.69 or a 369% overpassing of these government levies onto home buyers. Thus, this one government levy could be responsible for $877 per month on home owner mortgage repayments in Brisbane, Queensland. This research is consistent with international findings, that support the proposition that developer paid infrastructure charges are passed on to home buyers and are a significant contributor to increasing house prices and reduced housing affordability. Understanding who really pays for urban infrastructure is critical to both the housing affordability and infrastructure funding debates in Australia and this research provides the first empirical data for policy makers to assess their policy objectives and outcomes against.

Investigating the population structure of Queensland invasive Streptococcus pneumoniae isolates in children: Using a modified multi-locus variable number of tandem repeat analysis and a novel minimum SNPs capsular typing method

This research investigated the use of DNA fingerprinting to characterise the bacteria Streptococcus pneumoniae or pneumococcus, and hence gain insight into the development of new vaccines or antibiotics. Different bacterial DNA fingerprinting methods were studied, and a novel method was developed and validated, which characterises different cell coatings that pneumococci produce. This method was used to study the epidemiology of pneumococci in Queensland before and after the introduction of the current pneumococcal vaccine. This study demonstrated that pneumococcal disease is highly prevalent in children under four years, that the bacteria can `switch' its cell coating to evade the vaccine, and that some DNA fingerprinting methods are more discriminatory than others. This has an impact on understanding which strains are more prone to cause invasive disease. Evidence of the excellent research findings have been published in high impact internationally refereed journals.

Design of redox/radical sensing molecules via Nitrile Imine-Mediated Tetrazole-ene Cycloaddition (NITEC)

The current study introduces a novel synthetic avenue for the preparation of profluorescent nitroxides via nitrile imine-mediated tetrazole-ene cycloaddition (NITEC). The photoinduced cycloaddition was performed under metal-free, mild conditions allowing the preparation of a library of the nitroxide functionalized pyrazolines and corresponding methoxyamines. High reaction rates and full conversion were observed, with the presence of the nitroxide having no significant impact on the cycloaddition performance. The formed products were investigated with respect to their photophysical properties in order to quantify their “switch on/off” behavior. The fluorescence quenching performance is strongly dependent on the distance between the chromophore and the free radical spin as demonstrated theoretically and experimentally. Highest levels of fluorescence quenching were achieved for pyrazolines with the nitroxide directly fused to the chromophore. Importantly, the pyrazoline profluorescent nitroxides were shown to efficiently act as sensors for redox/radical processes.