Principles of investments

"Emphasises asset allocation while presenting the practical applications of investment theory. The authors concentrate on the intuition and insights that will be useful to students throughout their careers as new ideas and challenges emerge from the financial marketplace. It provides a good foundation to understand the basic types of securities and financial markets as well as how trading in those markets is conducted. The Portfolio Management section is discussed towards the end of the course and supported by a web-based portfolio simulation with a hypothetical $100,000 brokerage account to buy and sell stocks and mutual funds. Students get a chance to use real data found in the Wall Street Survivor simulation in conjunction with the chapters on investments. This site is powered by StockTrak, the leading provider of investment simulation services to the academic community. Principles of Investments includes increased attention to changes in market structure and trading technology. The theory is supported by a wide range of exercises, worksheets and problems."--publisher website Contents: Investments: background and issues -- Asset classes and financial markets -- Securities markets -- Managed funds and investment management -- Risk and return: past and prologue -- Efficient diversification -- Capital asset pricing and arbitrage pricing theory -- The efficient market hypothesis -- Bond prices and yields -- Managing bond portfolios -- Equity valuation -- Macroeconomic and industry analysis -- Financial statement analysis -- Investors and the investment process -- Hedge funds -- Portfolio performance evaluation.

"You’ve modelled and now what?" : Exploring determinants of process model re-use

Business process modelling as a practice and research field has received great attention over recent years. Organizations invest significantly into process modelling in terms of training, tools, capabilities and resources. The return on this investment is a function of process model re-use, which we define as the recurring use of process models to support organizational work tasks. While prior research has examined re-use as a design principle, we explore re-use as a behaviour, because evidence suggest that analysts’ re-use of process models is indeed limited. In this paper we develop a two-stage conceptualization of the key object-, behaviour- and socioorganization-centric factors explaining process model re-use behaviour. We propose a theoretical model and detail implications for its operationalization and measurement. Our study can provide significant benefits to our understanding of process modelling and process model use as key practices in analysis and design.

Measurement as legitimacy versus legitimacy of measures : Performance evaluation of social enterprise

Purpose The purpose of this paper is to review the growing emphasis on quantifiable performance measures such as social return on investment (SROI) in third sector organisations – specifically, social enterprise – through a legitimacy theory lens. It then examines what social enterprises value (i.e. consider important) in terms of performance evaluation, using a case study approach. Design/methodology/approach Case studies involving interviews, documentary analysis, and observation, of three social enterprises at different life-cycle stages with different funding structures, were constructed to consider “what measures matter” from a practitioner's perspective. Findings Findings highlight a priority on quality outcomes and impacts in primarily qualitative terms to evaluate performance. Further, there is a noticeable lack of emphasis on financial measures other than basic access to financial resources to continue pursuing social goals. Social implications The practical challenges faced by social enterprises – many of which are small to medium sized – in evaluating performance and by implication organisational legitimacy are contrasted with measures such as SROI which are resource intensive and have inherent methodological limitations. Hence, findings suggest the limited and valuable resources of social enterprises would be better allocated towards documenting the actual outcomes and impacts as a first step, in order to evaluate social and financial performance in terms appropriate to each objective, in order to demonstrate organisational legitimacy. Originality/value Findings distinguish between processes which may hold symbolic legitimacy for select stakeholder groups, and processes which hold substantive, cognitive legitimacy for stakeholders more broadly, in the under-researched context of social enterprise.

The seventh 48 hour game making challenge (2013)

The 48 hour game making challenge has been running since 2007. In recent years, we have not only been running a 'game jam' for the local community but we have also been exploring the way in which the event itself and the place of the event has the potential to create its own stories. Game jams are the creative festivals of the game development community and a game jam is very much an event or performance; its stories are those of subjective experience. Participants return year after year and recount personal stories from previous challenges; arrival in the 48hr location typically inspires instances of individual memory and narration more in keeping with those of a music festival or an oft frequented holiday destination. Since its inception, the 48hr has been heavily documented, from the photo-blogging of our first jam and the twitter streams of more recent events to more formal interviews and documentaries (see Anderson, 2012). We have even had our own moments of Gonzo journalism with an on-site press room one year and an ‘embedded’ journalist another year (Keogh, 2011). In the last two years of the 48hr we have started to explore ways and means to collect more abstract data during the event, that is, empirical data about movement and activity. The intent behind this form of data collection was to explore graphic and computer generated visualisations of the event, not for the purpose of formal analysis but in the service of further story telling. [exerpt from truna aka j.turner, Thomas & Owen, 2013) See: truna aka j.turner, Thomas & Owen (2013) Living the indie life: mapping creative teams in a 48 hour game jam and playing with data, Proceedings of the 9th Australasian Conference on Interactive Entertainment, IE'2013, September 30 - October 01 2013, Melbourne, VIC, Australia

GO423 - the second Game On / brIGDA Independant Game Symposium

GO423 was initiated in 2012 as part of a community effort to ensure the vitality of the Queensland Games Sector. In common with other industrialised nations, the game industry in Australia is a reasonably significant contributor to Gross National Product (GNP). Games are played in 92% of Australian homes and the average adult player has been playing them for at least twelve years with 26% playing for more than thirty years (Brand, 2011). Like the games and interactive entertainment industries in other countries, the Australian industry has its roots in the small team model of the 1980s. So, for example, Beam Software, which was established in Melbourne in 1980, was started by two people and Krome Studios was started in 1999 by three. Both these companies grew to employing over 100 people in their heydays (considered large by Antipodean standards), not by producing their own intellectual property (IP) but by content generation for off shore parent companies. Thus our bigger companies grew on a model of service provision and tended not to generate their own IP (Darchen, 2012). There are some no-table exceptions where IP has originated locally and been ac-quired by international companies but in the case of some of the works of which we are most proud, the Australian company took on the role of “Night Elf” – a convenience due to affordances of the time zone which allowed our companies to work while the parent companies slept in a different time zone. In the post GFC climate, the strong Australian dollar and the vulnerability of such service provision means that job security is virtually non-existent with employees invariably being on short-term contracts. These issues are exacerbated by the decline of middle-ground games (those which fall between the triple-A titles and the smaller games often produced for a casual audience). The response to this state of affairs has been the change in the Australian games industry to new recognition of its identity as a wider cultural sector and the rise (or return) of an increasing number of small independent game development companies. ’In-dies’ consist of small teams, often making games for mobile and casual platforms, that depend on producing at least one if not two games a year and who often explore more radical definitions of games as designed cultural objects. The need for innovation and creativity in the Australian context is seen as a vital aspect of the current changing scene where we see the emphasis on the large studio production model give way to an emerging cultural sector model where small independent teams are engaged in shorter design and production schedules driven by digital distribution. In terms of Quality of Life (QoL) this new digital distribution brings with it the danger of 'digital isolation' - a studio can work from home and deliver from home. Community events thus become increasingly important. The GO423 Symposium is a response to these perceived needs and the event is based on the understanding that our new small creative teams depend on the local community of practice in no small way. GO423 thus offers local industry participants the opportunity to talk to each other about their work, to talk to potential new members about their work and to show off their work in a small intimate situation, encouraging both feedback and support.

Conference Keynote: Information literacy research and practice: An experiential perspective

In this paper I will explore some experience-based perspectives on information literacy research and practice. The research based understanding of what information literacy looks like to those experiencing it, is very different from the standard interpretations of information literacy as involving largely text based information searching, interpretation, evaluation and use. It also involves particular understandings of the interrelation between information and learning experiences. In following this thread of the history of information literacy I will reflect on aspects of the past, present and future of information literacy research. In each of these areas I explore experiential, especially phenomenographic approaches to information literacy and information literacy education, to reveal the unfolding understanding of people’s experience of information literacy stemming from this orientation. In addressing the past I will look in particular at the contribution of the seven faces of information literacy and some lessons learned from attending to variation in experience. I will explore important directions and insights that this history may help us to retain; including the value of understanding peoples’ information literacy experience. In addressing the present, I will introduce more recent work that adopts the key ideas of informed learning by attending to both information and learning experiences in specific contexts. I will look at some contemporary directions and key issues, including the reinvention of the phenomenographic, or relational approach to information literacy as informed learning or using information to learn. I will also provide some examples of the contribution of experiential approaches to information literacy research and practice. The evolution and development of the phenomenographic approach to information literacy, and the growing attention to a dual focus on information and learning experiences in this approach will be highlighted. Finally, in addressing the future I will return to advocacy, the recognition and pursuit of the transforming and empowering heart of information literacy; and suggest that for information literacy research, including the experiential, a turn towards the emancipatory has much to offer.

What's in it for me? Virtual conspicuous donation strategies as a source of value in blood donation

Providing an incentive is becoming common practice among blood service organisations. Driven by self-orientated motives rather than pure philanthropic intentions, research is showing that people increasingly want something in return for their support. It is contended that individuals donate conspicuously with the hope it will improve their social standing. Yet there is limited evidence for the effectiveness of conspicuous recognition strategies, and no studies, to the researcher’s knowledge, that have examined conspicuous donation strategies in an online social media context. There is a need to understand what value drives individuals to donate blood, and whether conspicuous donation strategies are a source of such value post blood donation. The purpose of this paper is to conceptualise how conspicuous donation strategies, in the form of virtual badges on social media sites, can be applied to the social behaviour of blood donation, as a value-adding tool, to encourage repeat behaviour.

Beliefs underlying the intention to donate again among first-time blood donors who experience a mild adverse event

Using the belief basis of the theory of planned behavior (TPB), the current study explored the rate of mild reactions reported by donors in relation to their first donation and the intention and beliefs of those donors with regard to returning to donate again. A high proportion of first-time donors indicated that they had experienced a reaction to blood donation. Further, donors who reacted were less likely to intend to return to donate. Regression analyses suggested that targeting different beliefs for those donors who had and had not reacted would yield most benefit in bolstering donors’ intentions to remain donating. The findings provide insight into those messages that could be communicated via the mass media or in targeted communications to retain first-time donors who have experienced a mild vasovagal reaction.

How do Chinese fashion designers become global fashion leaders? A new perspective on legitimisation in China’s fashion system

The term fashion system describes inter-relationships between production and consumption, illustrating how the production of fashion is a collective activity. For instance, Yuniya Kawamura (2011) notes systems for the production of fashion differ around the globe and are subject to constant change, and Jennifer Craik (1994, 6) draws attention to an ‘array of competing and intermeshing systems cutting across western and non-western cultures. In China, Shanghai’s nascent fashion system seeks to emulate the Eurocentric system of Fashion Weeks and industry support groups. It promises designers a platform for global competition, yet there are tensions from within. Interaction with a fashion system inevitably means becoming validated or legitimised. Legitimisation in turn depends upon gatekeepers who make aesthetic judgments about the status, quality, and cultural value of a designers work (Becker 2008). My paper offers a new perspective on legitimisation that is drawn mainly from my PhD research. I argue that some Chinese fashion designers are on the path to becoming global fashion designers because they have embraced a global aesthetic that resonates with the human condition, rather than the manufactured authenticity of a Eurocentric fashion system that perpetuates endless consumption. In this way, they are able to ‘self-legitimise’. I contend these designers are ‘designers for humans’, because they are able to look beyond the mythology of fashion brands, and the Eurocentric fashion system, where they explore the tensions of man and culture in their practice. Furthermore, their design ethos pursues beauty, truth and harmony in the Chinese philosophical sense, as well as incorporating financial return in a process that is still enacted through a fashion system. Accordingly, cultural tradition, heritage and modernity, while still valuable, have less impact on their practice.

Rise of the eco warriors

A group of passionate and naïve young people leave their known worlds behind to spend 100 days in the jungles of Borneo. Their mission is to confront one of the great global challenges of our time, saving rainforests and giving hope to endangered orangutans. Their task is enormous and the odds are against them. Jojo, an orphaned baby orangutan, is entrusted in their care and they must find a way to return her to her forest home. To do this, they need to build an orangutan rehabilitation centre and find ways to help the local communities protect their forest. Under the guidance of their mentor Dr Willie Smits, they introduce an innovative satellite monitoring system called Earthwatchers and enlist the help of school students around the world. The system is put to the test when the bulldozers move in and threaten the future of a nearby community living in a traditional longhouse. This is a story about what it takes it be an eco-warrior, an individual willing to step up and take action to avert a global catastrophe taking place before our eyes. The eco-warriors represent a new generation, ready to face what is happening on our planet and willing to do something, no matter how small, to build a more humane and balanced world. For them, every individual matters, every action counts. - Written by Cathy Henkel

Murray Valley Encephalitis

Outbreaks of an acute, severe, encephalitic illness, clinically similar to Japanese and St. Louis encephalitis, occurred in rural areas of southeastern Australia in 1917, 1918, 1922, 1925, 1951, and 1974[1,9,14-16] and in north and northwestern Australia in 1981, 1993, and 2000.[8,12,41] Approximately 420 cases were reported in these nine outbreaks.[41] They are thought to represent a single entity for which various names (Australian X disease, Murray Valley encephalitis, Australian encephalitis) have been used. Twenty-two cases were diagnosed in the 5 years between 2007 and 2011; three were fatal, and one of the fatalities occurred in a Canadian tourist on return from a holiday in northern Australia. Case-fatality rates, as high as 70 percent in the early years,[9,11] declined to 20 percent in the 1974 outbreak and have remained at about this level since then.[5,10,12] However, significant residual neurologic disability occurs in as many as 50 percent of survivors.[10,12] The presence of this disease in Papua New Guinea was confirmed in 1956.[20] The causative virus was transmitted to experimental animals as early as 1918,[6,11] although those strains could not be maintained. The definitive isolation and characterization of Murray Valley encephalitis virus in 1951[19] led to epidemiologic studies that suggested its survival in bird-mosquito cycles in northern Australia but not in the area of epidemic occurrence in southern Australia.[1] Murray Valley encephalitis is caused by Murray Valley encephalitis virus. In an effort to dissociate a disease from a specific locality, the term Australian encephalitis was proposed by residents of Murray Valley for the disease caused by Murray Valley encephalitis virus. Some researchers subsequently have attempted to expand the term Australian encephalitis to include encephalitis caused by any Australian arbovirus. Because the term Australian encephalitis has no scientific validity and is ambiguous, it should not be used.

Children’s accommodation during reading of Chinese and English texts

Purpose: Inaccurate accommodation during nearwork and subsequent accommodative hysteresis may influence myopia development. Myopia is highly prevalent in Singapore; an untested theory is that Chinese children are prone to these accommodation characteristics. We measured the accuracy of accommodation responses during and nearwork-induced transient myopia (NITM) after periods spent reading Chinese and English texts. Methods: Refractions of 40 emmetropic and 43 myopic children were measured with a free-space autorefractor for four reading tasks of 10-minute durations: Chinese (SimSun, 10.5 points) and English (Times New Roman, 12 points) texts at 25 cm and 33 cm. Accuracy was obtained by subtracting accommodation response from accommodation demand. Nearwork-induced transient myopia was obtained by subtracting pretask distance refraction from posttask refraction, and regression was determined as the time for the posttask refraction to return to pretask levels. Results: There were significant, but small, effects of text type (Chinese, 0.97 ± 0.32 diopters [D] vs. English, 1.00 ± 0.37 D; F1,1230 = 7.24, p = 0.007) and reading distance (33 cm, 1.01 ± 0.30 D vs. 25 cm, 0.97 ± 0.39 D; F1,1230 = 7.74, p = 0.005) on accommodation accuracy across all participants. Accuracy was similar for emmetropic and myopic children across all reading tasks. Neither text type nor reading distance had significant effects on NITM or its regression. Myopes had greater NITM (by 0.07 D) (F1,81 = 5.05, p = 0.03) that took longer (by 50s) (F1,81 = 31.08, p < 0.01) to dissipate. Conclusions: Reading Chinese text caused smaller accommodative lags than reading English text, but the small differences were not clinically significant. Myopic children had significantly greater NITM and longer regression than emmetropic children for both texts. Whether differences in NITM are a cause or consequence of myopia cannot be answered from this study.

Finding Carpentaria

Invited – and inspired – by Rikki Gunn of GhostNets Australia, in September 2008 sixteen Queensland University of Technology (QUT) design and engineering students and four staff set off on a 2488km journey to spend a fortnight in Karumba on the Gulf of Carpentaria. We went to undertake a strategic planning project we called Linking Karumba, to encourage social, economic, environmental and cultural linkages across the town. During this visit, we and our local project partners realised there should be a second half to the project, in the other Carpentaria Shire town of Normanton, which saw another group of us travelling north again in 2010 to undertake Get EnGulfed: Normanton2020, looking back and forwards to propose strategies to strengthen local and regional identities. The responsiveness of our students’ work to the character of Carpentarian culture and environment indicate remarkable levels of immersion, and the community expressed their enjoyment of the process and outcomes. As for us - QUT staff and students - we had a marvellous time doing these projects, and this little book is the story of our finding of the landscapes and communities of Carpentaria “where the outback meets the sea”, and of the project work we did together with locals in the two towns. We go to press as news arrives of the official opening of the Karumba Walking track, linking the two parts of the town. We can’t wait to return and make the walk. Shannon Satherley, 2013

Co-production of actions and activities at airport security screening

In this paper we will examine passenger actions and activities at the security screening points of Australian domestic and international airports. Our findings and analysis provide a more complete understanding of the current airport passenger security screening experience. Data in this paper is comprised of field studies conducted at two Australian airports, one domestic and one international. Video data was collected by cameras situated either side of the security screening point. A total of one hundred and ninety-six passengers were observed. Two methods of analysis are used. First, the activities of passengers are coded and analysed to reveal the common activities at domestic and international security regimes and between quiet and busy periods. Second, observation of passenger activities is used to reveal uncommon aspects. The results show that passengers do more at security screening that being passively scanned. Passengers queue, unpack the required items from their bags and from their pockets, walk through the metal-detector, re-pack and occasionally return to be re-screened. For each of these activities, passengers must understand the procedures at the security screening point and must co-ordinate various actions and objects in time and space. Through this coordination passengers are active participants in making the security checkpoint function – they are co-producers of the security screening process.

On the allocation of a takeover purchase price under AASB1013

The purpose of this paper is to document and explain the allocation of takeover purchase price to identifiable intangible assets (IIAs), purchased goodwill, and/or target net tangible assets in an accounting environment unconstrained with respect to IIA accounting policy choice. Using a sample of Australian acquisitions during the unconstrained accounting environment from 1988 to 2004, we find the percentage allocation of purchase price to IIAs averaged 19.09%. The percentage allocation to IIAs is significantly positively related to return on assets and insignificantly related to leverage, contrary to opportunism. Efficiency suggests an explanation: profitable firms acquire and capitalise a higher percentage of IIAs in acquisitions. The target's investment opportunity set is significantly positively related to the percentage allocation to IIAs, consistent with information-signalling. The paper contributes to the accounting policy choice literature by showing how Australian firms make the one-off accounting policy choice in regards allocation of takeover purchase price (which is often a substantial dollar amount to) in an environment where accounting for IIAs was unconstrained.