Private equity bids in Australia : an exploratory study

In this study, we provide an insight into how private equity players choose their targets and the bid arrangements they prefer. We test our expectations of the unique features of private equity targets using a sample of 23 listed private equity target firms during 2001–2007. We find, relative to a benchmark sample of 81 corporate targets matched by year and industry, the private equity target firms to be larger, more profitable, use their assets more efficiently, more highly levered and have greater cash flow. Multivariate testing indicates that private equity targets have relatively greater financial slack, greater financial stability, greater free cash flow and lower measurable growth prospects. All conclusions are found to be robust to a control sample of 502 takeover bids during 2001–2007.

Do perceptions mirror reality? Student perceptions of learning versus grade outcomes

This research addresses whether educators should consider measuring if students have learned what was intended, as recommended by education researchers. Students in an Introductory Marketing subject were asked to complete a voluntary survey rating their own progress on the intended learning outcomes for the course. One hundred and one surveys were completed by students in the second-last teaching week of the semester. Student identification numbers were used to link student perceptions with their grade outcomes. Regression analysis was used to ascertain whether student perceptions of their progress on the intended learning outcomes for the course could be used to predict their grades. While the results were significant, student perceptions of their progress on learning outcomes were a poor predictor of grade outcomes. The results of this study suggest that student perceptions may not mirror the reality. These results are somewhat surprising and future research examining the degree of change in the learning outcomes perceived by students is warranted. This will further contribute to decisions surrounding whether educators should measure if students have learned what was intended.

Obtaining peak performance in the transition to Higher Education: Support for the worried well, acutely anxious and seriously sluggish student

Research suggests that students in their late teens and early twenties have not reached "identity formation" (James Marcia, 1969, 1980). The heightened anxiety and uncertainty about themselves and their future contribute to sometimes crippling fears emanating as anxiety, clinical depression and other mood disorders. This paper will explore some issues and suggest healthy ways of helping young people safely through these chaotic years and into a fulfilling career.

Equity for taxpayers within Australia’s retirement savings regime : a dissenting opinion

This article asks the question whether Australia’s retirement savings regime, specifically the superannuation component and the attached taxation concessions, is a regime which is equitable to all taxpayers. In a dissenting opinion, it is argued that the current regime, along with the changes proposed by the Federal Government in its response to the Henry Review, does not result in a retirement savings regime which benefits all taxpayers equally. As such, it is suggested that the only way to ensure an equitable regime is to incorporate a gender perspective into public finance analysis to determine how the retirement savings policies affect women and men differently. In doing so, a specific tax policy which provides for additional, fiscally significant concessions for taxpayers who do not fit the criteria of a ‘normal’ taxpayer, that is a taxpayer working as an employee in a full time position for an uninterrupted 35 years, should be incorporated into Australia’s current fiscal policy.

Legal education and the 'idealistic student': using Foucault to unpack the critical legal narrative

It appears that few of the students holding ‘socially idealistic’ goals upon entering law school actually maintain these upon graduation. The critical legal narrative, which explains and seeks to act upon this shift in the graduate’s ‘legal identity’, posits that these ideals are repressed through power relations that create passive receptacles into which professional ideologies can be deposited, in the interests of those advantaged by the social and legal status quo. Using the work of Michel Foucault, this paper unpacks the assumptions underpinning this narrative, particularly its arguments about ideology, power, and the subject. In doing so, it will argue this narrative provides an untenable basis for political action within legal education. By interrogating this narrative, this paper provides a new way of understanding the construction of the legal identity through legal education, and a new basis for political action within law school.

Better to light a single candle than to curse the darkness : promoting law student well-being through a first year law subject

Australian law teachers are increasingly recognising that psychological distress is an issue for our students. This article describes how the Queensland University of Technology Law School is reforming its curriculum to promote student psychological well-being. Part I of the article examines the literature on law student psychological distress in Australia. It is suggested that cross-sectional and longitudinal studies undertaken in Australia provide us with different, but equally important, information with respect to law student psychological well-being. Part II describes a subject in the QUT Law School - Lawyering and Dispute Resolution – which has been specifically designed as one response to declines in law student psychological well-being. Part III then considers two key elements of the design of the subject: introducing students to the idea of a positive professional identity, and introducing students to non-adversarial lawyering and the positive role of lawyers in society as dispute resolvers. These two areas of focus specifically promote law student psychological well-being by encouraging students to engage with elements of positive psychology – in particular, hope and optimism.

Resources to assist research student supervision

This document is an adaptation of a report submitted to the ALTC in 2009, with additional data collected through subsequent interviews. The organisation of the contents also reflects a development of thought since the original project. The framework presented in this document is intended to provide supervisors with a range of options with respect to supervisory pedagogy. It has been developed to highlight different aspects of thinking about supervision as a teaching and learning practice; as well as approaches, strategies and roles associated with supervision. It will enable supervisors to become aware of the diverse options available to them and provide systematic ways of thinking about supervisory practices. Use of this framework will encourage supervisors to make choices based on broader, rather than more limited, repertoires. It will also encourage thinking about supervision as a teaching and learning practice.

Private equity bidders : barbarians or best friends

The deal value of private equity merger and takeover activity has achieved unprecedented growth in the last couple of years, in Australia and globally. Private equity deals are not a new feature of the market; however, such deals have been subject to increased academic, professional and policy interest. This study examines the particular features of 15 major deals involving listed company "targets" and provides evidence – based on a comparison with a benchmark sample – to demonstrate the role that private equity plays in the market for corporate control. The objective of this study was to assess the friendliness of private equity bids. Based on the indicia compiled, lower bid premiums, the presence of break fees and the intention to retain senior management are compellingly different for private equity bids than for the comparative sample of bids. Using these several characteristics of "friendliness", the authors show that private equity deals are generally friendly in nature, consistent with industry rhetoric, but perhaps inconsistent with the popular belief that private equity bidders are the "barbarians at the gate".

Enhancing student success and retention : an institution-wide strategy for peer programs

Higher Education's widening participation agenda prioritises improving access to university for low-SES students. Parallel with these ambitious national participation targets, is the challenge for universities to significantly improve student retention rates; hence, the need to implement strategies aimed to improve the quality of the student learning experience and build a 'sense of belonging'. Within the framework of the First Year Experience Program, Queensland University of Technology has embarked on establishing a whole-of-institution model for peer programs that aims to: 1) improve the student learning experience and outcomes; and, 2) establish quality assured and sustainable programs. This paper reports on the maturation university-wide peer program strategy and considers the challenges of implementing, evaluating and resourcing a sustainable and inclusive approach to peer programs.

A transition pedagogy for student engagement and first-year learning, success and retention

This chapter argues that higher education institutions (HEIs) must direct coordinated, whole-of-institution attention to changing, both culturally and structurally, the fundamental and prevailing character of the first-year experience (FYE). It leverages evidence from the sector(Nelson, Kift and Clarke, 2011), from research-led practice in our institution (for example, Kift, Nelson and Clarke, 2010; Nelson et al.,in press) and from research conducted under an Australian Learning and Teaching Council Senior Fellowship (Kift, 2009a, 2009b, 2009c) to assert that student engagement and success should not be left to chance, particularly those aspects such as curriculum design and enactment that are within our institutional control.

An exploration of the maturity model concept as a vehicle for higher education institutions to assess their capability to address student engagement : a work in progress

Gaining a competitive edge in the area of the engagement, success and retention of commencing students is a significant issue in higher education, made more so currently because of the considerable and increasing pressure on teaching and learning from the new standards framework and performance funding. This paper introduces the concept of maturity models (MMs) and their application to assessing the capability of higher education institutions (HEIs) to address student engagement, success and retention (SESR). A concise description of the features of maturity models is presented with reference to an SESR-MM currently being developed. The SESR-MM is proposed as a viable instrument for assisting HEIs in the management and improvement of their SESR activities.

The maturity model concept as framework for assessing the capability of higher education institutions to address student engagement, success and retention : new horizon or false dawn?

While the engagement, success and retention of first year students are ongoing issues in higher education, they are currently of considerable and increasing importance as the pressures on teaching and learning from the new standards framework and performance funding intensifies. This Nuts & Bolts presentation introduces the concept of a maturity model and its application to the assessment of the capability of higher education institutions to address student engagement, success and retention. Participants will be provided with (a) a concise description of the concept and features of a maturity model; and (b) the opportunity to explore the potential application of maturity models (i) to the management of student engagement and retention programs and strategies within an institution and (ii) to the improvement of these features by benchmarking across the sector.

Using reflective practice assessment in the first year of law to encourage a positive professional identity and promote law student well-being

In this paper we argue that intentional curriculum design in the first year of law should encourage law students to develop an emergent sense of a positive professional identity. When first year law students engage with a nascent notion of a positive professional identity, their well-being is supported because their studies are informed and contextualised by a sense of purpose for their future professional life. In a first year law subject run for the first time at the QUT Law School in 2011, reflective practice was successfully used to achieve these goals. The paper discusses the subject, the opportunity of using reflective practice to teach a positive sense of professional identity, and some student perspectives on the subject’s design.

Promoting law student well-being through a first year law subject

-First, the incidence of psychological distress in law students is uncomfortably high. -Second, we cannot identify with precision the exact factors that are causing this psychological distress. -Third, cross sectional studies (by themselves) cannot tell us whether it is law school that is creating these levels of psychological distress, or whether prospective law students already possess these attributes. -Fourth, if law school is somehow causing or contributing to this psychological distress, cross sectional studies (by themselves) cannot tell us when in the law degree psychological distress is most likely to occur.