Corporate governance and bankruptcy risk

We examine how firm characteristics, particularly the degree of firm complexity and the firm’s need for specialty knowledge, affect the relationship between corporate governance and the risk of bankruptcy. We find that having larger boards reduces the risk of bankruptcy only for complex firms. Our results also suggest that the proportion of inside directors on the board is inversely associated with the risk of bankruptcy in firms that require more specialist knowledge, and that the reverse is true in technically unsophisticated firms. The results further reveal that the additional explanatory power from corporate governance variables becomes stronger as the time to bankruptcy is increased, implying that although corporate governance variables are important predictors, governance changes are likely to be too late to save a firm on the verge of bankruptcy.

Crime in rural Australia

As an academic who has spent a quarter of a century living, lecturing and researching in a rural community, I am often impressed by the discrepancies between the reality of rural life and its image in the public consciousness. At least two aspects of this are the most striking. First, there is often - especially, but not exclusively in English-speaking societies - the idea that rural communities represent the "real" or "true" aspects of a society's culture. For example, judging by the representations of rural Australia in the media, rural life is where we find the true Australian, the laconic, taciturn, but decent everyday man and woman, the "battlers", who are not corrupted by urban life. Such an attribution of genuineness to rurality is especially interesting given that the vast majority of contemporary Australians live in cities and that Australia is one of the most urbanised countries in the world. Second, and following from the first point, is the idea that rural areas remain somewhat behind the times, that somehow they are not quite part of the contemporary world. This is a mixed image as it combines both the negative idea of backwardness with the more positive one of a society that has not lost the virtues of stability and civility that we often feel is missing in the city. Both of these ideas combine in the popular image of rural communities as safe places in an increasingly dangerous world. In the popular mind it seems that there is an idea that whatever rural communities may lack in conveniences and sophistication, they remain places where you might walk down the street safely, leave your doors unlocked at night and raise your children confident that they will not be exposed to drugs, gangs and violence. Unfortunately, all of these ideas are fantasies. There is no reason to believe that the residents of rural communities are anymore the truer representations of Australian culture than the average suburbanite.

Not drowning, (hand)waving? Molecular phylogenetics, biogeography and evolutionary tempo of the ‘Gondwanan’ midge Stictocladius Edwards (Diptera: Chironomidae)

Many insect clades, especially within the Diptera (true flies), have been considered classically ‘Gondwanan’, with an inference that distributions derive from vicariance of the southern continents. Assessing the role that vicariance has played in the evolution of austral taxa requires testing the location and tempo of diversification and speciation against the well-established predictions of fragmentation of the ancient super-continent. Several early (anecdotal) hypotheses that current austral distributions originate from the breakup of Gondwana derive from studies of taxa within the family Chironomidae (non-biting midges). With the advent of molecular phylogenetics and biogeographic analytical software, these studies have been revisited and expanded to test such conclusions better. Here we studied the midge genus Stictocladius Edwards, from the subfamily Orthocladiinae, which contains austral-distributed clades that match vicariance-based expectations. We resolve several issues of systematic relationships among morphological species and reveal cryptic diversity within many taxa. Time-calibrated phylogenetic relationships among taxa accorded partially with the predicted tempo from geology. For these apparently vagile insects, vicariance-dated patterns persist for South America and Australia. However, as often found, divergence time estimates for New Zealand at c. 50 mya post-date separation of Zealandia from Antarctica and the remainder of Gondwana, but predate the proposed Oligocene ‘drowning’ of these islands. We detail other such ‘anomalous’ dates and suggest a single common explanation rather than stochastic processes. This could involve synchronous establishment following recovery from ‘drowning’ and/or deleteriously warming associated with the mid-Eocene climatic optimum (hence ‘waving’, which refers to cycles of drowning events) plus new availability of topography providing of cool running waters, or all these factors in combination. Alternatively a vicariance explanation remains available, given the uncertain duration of connectivity of Zealandia to Australia–Antarctic–South America via the Lord Howe and Norfolk ridges into the Eocene.

Competition policy review : draft recommendations on competition laws

On 4 December 2013, the Prime Minister and the Minister for Small Business announced a “root and branch” review of Australia’s competition policy. The Minister for Small Business released the final Terms of Reference for the competition policy review on 27 March 2014, following consultation with the States and Territories, and announced the Review Panel headed by Professor Ian Harper. Under the terms of reference the Competition Policy Review Committee (the Harper Committee) is required to focus on three broad areas: •examining what can be done to create more competition in service areas such as health, education and intellectual property; •considering whether the structure and powers of the competition institutions (the ACCC , the NCC, the Tribunal and the AER) remain appropriate; and •examining the effectiveness of the competition provisions of the Competition and Consumer Act 2010 (Cth) (CCA) and laying down a broad framework through which the law can be streamlined and reformed over time.

Laugh Lines : Exploring Humour in Children's Literature

Humour takes many shapes and forms. It can be as sharp as a surgeon's knife or as gentle as a touch of silk. It can convey uncomfortable truths, point up life's absurdities, challenge the imagination, take us by surprise, release us from fears and anxieties. And while it's true that we don't all agree about what's funny, it's also true that everyone of us finds pleasure in some form of humorous literature.

“Well, hang on, they’re actually much better than that!” : disrupting dominant discourses of deficit about English language learners in senior high school English

This paper explores how four English teachers position their English language learners for critical literacy within senior high school curriculum in Queensland, Australia. Such learners are often positioned, even by their teachers, within a broader “deficit discourse” that claims they are inherently lacking the requisite knowledge and skills to engage with intransigent school curricula. As such, English language learners’ identity formation is often constrained by deficit views that can ultimately see limited kinds of literacy teaching offered to them. Using Fairclough’s (2003) critical discourse analysis method, analysis of 16 interviews with the teachers was conducted as part of a larger, critical instrumental case study in two state high schools during 2010. Five competing discourses were identified: deficit as lack; deficit as need; learner “difference” as a resource; conceptual capacity for critical literacy; and linguistic, cultural and conceptual difficulty with critical literacy. While a deficit view is present, counter-hegemonic discourses also exist in their talk. The combination of discourses challenges monolithic deficit views of English language learners, and opens up generative discursive territory to position English language learners in ways other than “problematic”. This has important implications for how teachers view and teach English language learners and their capacity for critical literacy work in senior high school classrooms.

Multilingual lexical resources to detect cognates in non-aligned texts

The identification of cognates between two distinct languages has recently start- ed to attract the attention of NLP re- search, but there has been little research into using semantic evidence to detect cognates. The approach presented in this paper aims to detect English-French cog- nates within monolingual texts (texts that are not accompanied by aligned translat- ed equivalents), by integrating word shape similarity approaches with word sense disambiguation techniques in order to account for context. Our implementa- tion is based on BabelNet, a semantic network that incorporates a multilingual encyclopedic dictionary. Our approach is evaluated on two manually annotated da- tasets. The first one shows that across different types of natural text, our method can identify the cognates with an overall accuracy of 80%. The second one, con- sisting of control sentences with semi- cognates acting as either true cognates or false friends, shows that our method can identify 80% of semi-cognates acting as cognates but also identifies 75% of the semi-cognates acting as false friends.

Virtual 3D models of insects for accelerated quarantine control

We learn from the past that invasive species have caused tremendous damage to native species and serious disruption to agricultural industries. It is crucial for us to prevent this in the future. The first step of this process is to identify correctly an invasive species from native ones. Current identification methods, relying on mainly 2D images, can result in low accuracy and be time consuming. Such methods provide little help to a quarantine officer who has time constraints to response when on duty. To deal with this problem, we propose new solutions using 3D virtual models of insects. We explain how working with insects in the 3D domain can be much better than the 2D domain. We also describe how to create true-color 3D models of insects using an image-based 3D reconstruction method. This method is ideal for quarantine control and inspection tasks that involve the verification of a physical specimen against known invasive species. Finally we show that these insect models provide valuable material for other applications such as research, education, arts and entertainment. © 2013 IEEE.

Writers as performers : developing reflexive and creative writing identities

Writing is a complex and learned activity in that it requires us to shape our thoughts into words and texts that are appropriate for the purpose, audience and medium of a variety of communicative forms. Writers must constantly make decisions about how to represent their subject matter and themselves through language. In this way, writing can be conceptualised as a performance whereby writers shape and represent their identities as they mediate social structures and personal considerations. In this paper I use theories of reflexivity and discourse to analyse interviews and writing samples of culturally and linguistically diverse Australian primary students for evidence of particular kinds of writing identities. Findings indicate a clear influence of particular teaching strategies and contexts on the writing identities of students. I argue that making students aware of their writing choices, the influences on, and the potential impact of those choices on themselves, their text and their audience, is a new imperative in the teaching of writing.

Environmental exposures : an underrecognized contribution to noncommunicable diseases

Previous attempts to determine the degree to which exposure to environmental factors contribute to noncommunicable diseases (NCDs) have been very conservative and have significantly underestimated the actual contribution of the environment for at least two reasons. Firstly, most previous reports have excluded the contribution of lifestyle behavioral risk factors, but these usually involve significant exposure to environmental chemicals that increase risk of disease. Secondly, early life exposure to chemical contaminants is now clearly associated with an elevated risk of several diseases later in life, but these connections are often difficult to discern. This is especially true for asthma and neurodevelopmental conditions, but there is also a major contribution to the development of obesity and chronic diseases. Most cancers are caused by environmental exposures in genetically susceptible individuals. In addition, new information shows significant associations between cardiovascular diseases and diabetes and exposure to environmental chemicals present in air, food, and water. These relationships likely reflect the combination of epigenetic effects and gene induction. Environmental factors contribute significantly more to NCDs than previous reports have suggested. Prevention needs to shift focus from individual responsibility to societal responsibility and an understanding that effective prevention of NCDs ultimately relies on improved environmental management to reduce exposure to modifiable risks.

Natural mapping and intuitive interaction in videogames

Videogame control interfaces continue to evolve beyond their traditional roots, with devices encouraging more natural forms of interaction growing in number and pervasiveness. Yet little is known about their true potential for intuitive use. This paper proposes methods to leverage existing intuitive interaction theory for games research, specifically by examining different types of naturally mapped control interfaces for videogames using new measures for previous player experience. Three commercial control devices for a racing game were categorised using an existing typology, according to how the interface maps physical control inputs with the virtual gameplay actions. The devices were then used in a within-groups (n=64) experimental design aimed at measuring differences in intuitive use outcomes. Results from mixed design ANOVA are discussed, along with implications for the field.

Sustainable Pedagogical Change for Embedding Reflective Learning Across Higher Education Programs

For pedagogical change to be sustained over time, and over the span of higher education courses, it needs to be framed widely, rather than ‘tacked on’. The framing includes curriculum reform and resource provision alongside staff pedagogical development. This is especially true for initiatives (such as reflective writing and assessment) that target broad-based, high-level skills and dispositions. For various reasons, such initiatives can easily become lost because of the discipline-specific focus of a syllabus outweighs the initiative, or because lack of resources compromises a desired approach. Course improvement in higher education contexts is typically difficult and episodic. In such circumstances, we argue that a strategic and trustworthy approach is necessary where practitioner-lead pedagogic development is fostered through trust and communication and is purposefully embedded within key dimensions of curriculum integration and resource provision. This chapter describes an approach to pedagogical change where curriculum, pedagogy and resources are simultaneously and collaboratively orchestrated to provide an effective framework for sustainable and effective change. A robust conceptual model is proposed to guide the implementation of such change.

Security Analysis of salt||password Hashes

Protection of passwords used to authenticate computer systems and networks is one of the most important application of cryptographic hash functions. Due to the application of precomputed memory look up attacks such as birthday and dictionary attacks on the hash values of passwords to find passwords, it is usually recommended to apply hash function to the combination of both the salt and password, denoted salt||password, to prevent these attacks. In this paper, we present the first security analysis of salt||password hashing application. We show that when hash functions based on the compression functions with easily found fixed points are used to compute the salt||password hashes, these hashes are susceptible to precomputed offline birthday attacks. For example, this attack is applicable to the salt||password hashes computed using the standard hash functions such as MD5, SHA-1, SHA-256 and SHA-512 that are based on the popular Davies-Meyer compression function. This attack exposes a subtle property of this application that although the provision of salt prevents an attacker from finding passwords, salts prefixed to the passwords do not prevent an attacker from doing a precomputed birthday attack to forge an unknown password. In this forgery attack, we demonstrate the possibility of building multiple passwords for an unknown password for the same hash value and salt. Interestingly, password||salt (i.e. salts suffixed to the passwords) hashes computed using Davies-Meyer hash functions are not susceptible to this attack, showing the first security gap between the prefix-salt and suffix-salt methods of hashing passwords.

Data as an asset: what the oil and gas sector can learn from other industries about “Big Data”

The upstream oil and gas industry has been contending with massive data sets and monolithic files for many years, but “Big Data” is a relatively new concept that has the potential to significantly re-shape the industry. Despite the impressive amount of value that is being realized by Big Data technologies in other parts of the marketplace, however, much of the data collected within the oil and gas sector tends to be discarded, ignored, or analyzed in a very cursory way. This viewpoint examines existing data management practices in the upstream oil and gas industry, and compares them to practices and philosophies that have emerged in organizations that are leading the way in Big Data. The comparison shows that, in companies that are widely considered to be leaders in Big Data analytics, data is regarded as a valuable asset—but this is usually not true within the oil and gas industry insofar as data is frequently regarded there as descriptive information about a physical asset rather than something that is valuable in and of itself. The paper then discusses how the industry could potentially extract more value from data, and concludes with a series of policy-related questions to this end.

Herds of methane chambers grazing bubbles

Water to air methane emissions from freshwater reservoirs can be dominated by sediment bubbling (ebullitive) events. Previous work to quantify methane bubbling from a number of Australian sub-tropical reservoirs has shown that this can contribute as much as 95% of total emissions. These bubbling events are controlled by a variety of different factors including water depth, surface and internal waves, wind seiching, atmospheric pressure changes and water levels changes. Key to quantifying the magnitude of this emission pathway is estimating both the bubbling rate as well as the areal extent of bubbling. Both bubbling rate and areal extent are seldom constant and require persistent monitoring over extended time periods before true estimates can be generated. In this paper we present a novel system for persistent monitoring of both bubbling rate and areal extent using multiple robotic surface chambers and adaptive sampling (grazing) algorithms to automate the quantification process. Individual chambers are self-propelled and guided and communicate between each other without the need for supervised control. They can maintain station at a sampling site for a desired incubation period and continuously monitor, record and report fluxes during the incubation. To exploit the methane sensor detection capabilities, the chamber can be automatically lowered to decrease the head-space and increase concentration. The grazing algorithms assign a hierarchical order to chambers within a preselected zone. Chambers then converge on the individual recording the highest 15 minute bubbling rate. Individuals maintain a specified distance apart from each other during each sampling period before all individuals are then required to move to different locations based on a sampling algorithm (systematic or adaptive) exploiting prior measurements. This system has been field tested on a large-scale subtropical reservoir, Little Nerang Dam, and over monthly timescales. Using this technique, localised bubbling zones on the water storage were found to produce over 50,000 mg m-2 d-1 and the areal extent ranged from 1.8 to 7% of the total reservoir area. The drivers behind these changes as well as lessons learnt from the system implementation are presented. This system exploits relatively cheap materials, sensing and computing and can be applied to a wide variety of aquatic and terrestrial systems.