An analysis of the Brisbane residential property market and the global financial crisis

The period from 2007 to 2009 covered the residential property boom from early 2000, to the property recession following the Global Financial Crisis. Since late 2008, a number of residential property markets have suffered significant falls in house prices, buth this has not been consistent across all market sectors. This paper will analyze the housing market in Brisbane Australia to determine the impact, similarities and differences that the4 GFC had on range of residential sectors across a divesified property market. Data analysis will provide an overview of residential property prices, sales and listing volumes over the study period and will provide a comparison of median house price performance across the geographic and socio-economic areas of Brisbane.

Internal market orientation and market-oriented behaviours

Purpose: The purpose of this empirical paper is to investigate internal marketing from a behavioural perspective. The impact of internal marketing behaviours, operationalised as an internal market orientation (IMO), on employees’ marketing and other in-role behaviours (IRB) were examined. ---------- Design/methodology/approach: Survey data measuring IMO, market orientation and a range of constructs relevant to the nomological network in which they are embedded were collected from the UK retail managers. These were tested to establish their psychometric properties and the conceptual model was analysed using structural equations modelling, employing a partial least squares methodology. ---------- Findings: IMO has positive consequences for employees’ market-oriented and other IRB. These, in turn, influence marketing success. Research limitations/implications – The paper provides empirical support for the long-held assumption that internal and external marketing are related and that organisations should balance their external focus with some attention to employees. Future research could measure the attitudes and behaviours of managers, employees and customers directly and explore the relationships between them. ---------- Practical implications: Firm must ensure that they do not put the needs of their employees second to those of managers and shareholders; managers must develop their listening skills and organisations must become more responsive to the needs of their employees. ---------- Originality/value: The paper contributes to the scarce body of empirical support for the role of internal marketing in services organisations. For researchers, this paper legitimises the study of internal marketing as a route to external market success; for managers, the study provides quantifiable evidence that focusing on employees’ wants and needs impacts their behaviours towards the market.

Reclaiming China's former soft power

The discussion begins with a discussion of soft power and creativity in contemporary China. The article then examines three development trajectories: territory, technology and taste. The third section examines the effects of taste in more detail through examples of China's creativity in art, philosophy and technology primarily in three key periods, the Western Zhou, Han, and Song The principal argument is that while China’s cultural authority was established on deep Confucian roots, its international influence, and its creativity, is indebted to periods of openness to ideas.

Keeping up with the neighbours : China's soft power ambitions

Over the past century numerous waves of transnational media have washed across East Asia with cycles emanating from various centers of cultural production, such as Tokyo, Hong Kong, and Seoul. Most recently the People’s Republic of China (PRC) has begun to exert growing influence over the production and flow of screen media, a phenomenon tied to the increasing size and power of its overall economy. The country’s rising status achieved truly global recognition during the 2008 Beijing Olympics. In the seven years leading up to the event, the Chinese economy tripled in size, expanding from $1.3 trillion to almost $4 trillion, a figure that made it the world’s third largest economy, slightly behind Japan, but decisively ahead of its European counterparts, Germany, France, and the United Kingdom. The scale and speed of this transformation are stunning. Just as momentous are the changes in its film, television, and digital media markets, which now figure prominently in the calculations of producers throughout East Asia.

The regulation of insurance intermediaries in the Australian financial services market

The insurance industry discharges a critical role in the Australian economy and is a significant part of the Australian financial services market. The industry relies upon intermediaries, the principal types being brokers and agents, to promote, arrange and distribute their products and services in the market. The pivotal role that they play in this context and sensitivities associated with the consumer oriented products, such as house and contents insurance, has ensured close regulatory attention. Of particular importance was the passage of the Insurance (Agents and Brokers) Act 1984 (Cth), a comprehensive attempt to address the responsibilities of intermediaries as well as particular problem areas associated with the handling of money. However, with the introduction of financial services and market reform early in the new millennium this insurance intermediary specific regulatory approach was abandoned in favour of a market-wide strategy; that is, market reform was based upon across-the-board licensing, disclosure, conduct and fairness standards, and all financial products and services are now regulated at a generic level under Ch 7 of the Corporations Act 2001 (Cth). This article briefly explores the categories of insurance intermediaries and the relevant distinctions between them but focuses mainly upon the regulatory context in which they operate. This context transcends a strictly legal framework as the regulatory body, the Australian Securities and Investments Commission (ASIC), has sought to inform and guide the market through Policy Statements and Regulatory Guides. The usefulness of these guides as an adjunct to the legislation in explaining the scope and operation of regulatory framework is examined. In addition, the article looks at the self-regulatory and dispute resolution practices in this area and their impact. In conclusion an assessment of this across-the-board regulatory regime is advanced.

Social network market : storytelling on a Web 2.0 original literature site

This article looks at a Chinese Web 2.0 original literature site, Qidian, in order to show the coevolution of market and non-market initiatives. The analytic framework of social network markets (Potts et al., 2008) is employed to analyse the motivations of publishing original literature works online and to understand the support mechanisms of the site, which encourage readers’ willingness to pay for user-generated content. The co-existence of socio-cultural and commercial economies and their impact on the successful business model of the site are illustrated in this case. This article extends the concept of social network markets by proposing the existence of a ripple effect of social network markets through convergence between PC and mobile internet, traditional and internet publishing, and between publishing and other cultural industries. It also examines the side effects of social network markets, and the role of market and non-market strategies in addressing the issues.

Inclusion of PMU current phasor measurements in a power system state estimator

Three different methods of inclusion of current measurements by phasor measurement units (PMUs) in a power sysetm state estimator is investigated. A comprehensive formulation of the hybrid state estimator incorporating conventional, as well as PMU measurements, is presented for each of the three methods. The behaviour of the elements because of the current measurements in the measurement Jacobian matrix is examined for any possible ill-conditioning of the state estimator gain matrix. The performance of the state estimators are compared in terms of the convergence properties and the varian in the estimated states. The IEEE 14-bus and IEEE 300-bus systems are used as test beds for the study.

Interpreting regional frequencies from synchronized phasor measurement in multi-area power systems

In this paper a new approach is proposed for interpreting of regional frequencies in multi machine power systems. The method uses generator aggregation and system reduction based on coherent generators in each area. The reduced system structure is able to be identified and a kalman estimator is designed for the reduced system to estimate the inter-area modes using the synchronized phasor measurement data. The proposed method is tested on a six machine, three area test system and the obtained results show the estimation of inter-area oscillations in the system with a high accuracy.

A biologically inspired object spectral-texture descriptor and its application to vegetation classification in power-line corridors

The use of appropriate features to represent an output class or object is critical for all classification problems. In this paper, we propose a biologically inspired object descriptor to represent the spectral-texture patterns of image-objects. The proposed feature descriptor is generated from the pulse spectral frequencies (PSF) of a pulse coupled neural network (PCNN), which is invariant to rotation, translation and small scale changes. The proposed method is first evaluated in a rotation and scale invariant texture classification using USC-SIPI texture database. It is further evaluated in an application of vegetation species classification in power line corridor monitoring using airborne multi-spectral aerial imagery. The results from the two experiments demonstrate that the PSF feature is effective to represent spectral-texture patterns of objects and it shows better results than classic color histogram and texture features.

Aurora : an illustrated novella

Aurora, an illustrated novella, is a retelling of the classic fairytale Sleeping Beauty, set on the Australian coast around the grounds of the family lighthouse. Instead of following in the footsteps of tradition, this tale focuses on the long time Aurora is cursed to sleep by the malevolent Minerva; we follow Aurora as she voyages into the unconscious. Hunted by Minerva through the shifting landscape of her dreams, Aurora is dogged by a nagging pull towards the light—there is something she has left behind. Eventually, realising she must face Minerva to break the curse, they stage a battle of the minds in which Aurora triumphs, having grasped the power of her thoughts, her words. Aurora, an Australian fairytale, is a story of self-empowerment, the ability to shape destiny and the power of the mind. The exegesis examines a two-pronged question: is the illustrated book for young adults—graphic novel—relevant to a contemporary readership, and, is the graphic novel, where text and image intersect, a suitably specular genre in which to explore the unconscious? It establishes the language of the unconscious and the meaning of the term ‘graphic novel’, before investigating the place of the illustrated book for an older readership in a contemporary market, particularly exploring visual literacy and the way text and image—a hybrid narrative—work together. It then studies the aptitude of graphic literature to representing the unconscious and looks at two pioneers of the form: Audrey Niffenegger, specifically her visual novel The Three Incestuous Sisters, and Shaun Tan, and his graphic novel The Arrival. Finally, it reflects upon the creative work, Aurora, in light of three concerns: how best to develop a narrative able to relay the dreaming story; how to bestow a certain ‘Australianess’ upon the text and images; and the dilemma of designing an illustrated book for an older readership.

Variable structure control for power systems stabilization

The application of variable structure control (VSC) for power systems stabilization is studied in this paper. It is the application, aspects and constraints of VSC which are of particular interest. A variable structure control methodology has been proposed for power systems stabilization. The method is implemented using thyristor controlled series compensators. A three machine power system is stabilized using a switching line control for large disturbances which becomes a sliding control as the disturbance becomes smaller. The results demonstrate the effectiveness of the methodology proposed as an useful tool to suppress the oscillations in power systems.

Penetration and power

This paper analyses the ways in which it is possible to imagine the relationship between sexual penetration and the expression of power. Taking the particular instance of a penetrative act in the US gay porn film Hard at Work, it applies a series of critical approaches in an attempt to make sense of perceived power relations in that text. Equations of power and activity, power and physical strength, power and the possession of a penis, power and the ability to gaze and power and the control of discourse are all considered and found to be inadequate to the task. The paper finally suggests that in order to usefully discuss relations of power in sexual acts, it is necessary to accept the radical reconceptualisation of power suggested by Mark Gibson, and begin to understand it not as an objective, measurable and real quantity, but as an effect of the interpretation of particular situations.

The Law of Real Property Mortgages

This book examines the principles and practice of real estate mortgages in an easily accessible text referenced to all the Australian States. It specifically deals with the major theoretical and practical aspects of the land mortgage including vitiating factors in formation, mortgagees powers and duties and mortgagors’ rights both statutory and other, assignment, insurance and discharge. As a successor to Mortgages Law in Australia, this book adopts an exclusive focus on real estate mortgages in Australia and provides a thorough account of the law through analysis of the plethora of court decisions and statutory provisions in this area. Duncan and Dixon analyse the substance of the mortgage transaction from creation through to rights of enforcement. This analysis includes detailed consideration of the rights and obligations of both mortgagors and mortgagees covering topics such as priorities and tacking, insurance, variation and assignment, rights of discharge, entry into possession, foreclosure and power of sale. In addition, the book contains a separate chapter on factors that may affect the validity and enforcement of a mortgage together with separate consideration of a mortgagee’s right to enforce a guarantee provided on behalf of a mortgagor and the rights and liabilities associated with a receivership regime initiated by a mortgagee. Written for the national market, the book is one of the few substantial works on this subject for practitioners throughout Australia. It is a very accessible text which enables readers to decide whether or not they have a problem and provides primary guidance to its solution. The book has been deliberately, heavily referenced to incorporate statutory references from across Australia and contains extensive case analysis in order to satisfy both these objectives.

A changing landscape : The mortgagee's power of sale in Queensland

In Australia, the extent of a mortgagee’s duty when exercising power of sale has long been the subject of conjecture. With the advent of the global financial crisis in the latter part of 2008, there has been some concern to ensure that the interests of mortgagors are adequately protected. In Queensland, concern of this type resulted in the enactment of the Property Law (Mortgagor Protection) Amendment Act 2008 (Qld). This amending legislation operates to both extend and strengthen the operation of s 85 of the Property Law Act 1974 (Qld) which regulates the mortgagee’s power of sale in Queensland. This article examines the impact of this amending legislation which was hastily introduced and passed by the Queensland Parliament without consultation and which introduces a level of prescription in relation to a sale under a prescribed mortgage which is without precedent elsewhere in Australia.