Determinants and market impact of seasoned equity offerings : the case of A-REITs

The paper examines the decision by Australian Real Estate Trusts (A-REITs) to issue seasoned equity offerings from 2000 - 2008 and stock market reaction to the offerings. The findings reveal that highly leveraged A-REITs with variable earnings are less likely to issue seasoned equity offerings. Inconsistent results for structure and type of properties held by the A-REIT do not allow for inference to be drawn. Similar to previous studies of seasoned equity offerings, we find a significant negative abnormal return associated with their announcement and no evidence of excessive leakage of information. Furthermore, market reaction differences to announcements of SEOs for the pre-global financial crisis (GFC) (2000-2006) and GFC eras (2007-2008) are noted with GFC era shareholders incurring larger abnormal return losses at 1.13% in comparison to the pre-GFC era shareholder loss of 0.34% on the SEO announcement day. Cross-sectional regressions show that the issued amount, leverage and profitability are significant factors affecting abnormal returns. Growth opportunities, tangibility, operating risk, size of A-REIT and other variables capturing A-REIT structure and property types held do not have an impact on abnormal returns

Assessing reflection skills in law using criterion-referenced assessment

This paper focuses on the assessment of reflective practice, an issue that has not been fully explored within legal education literature. While the issue of how reflective practice should be taught is one that requires careful consideration, it is beyond the scope of this paper to consider both the teaching and the assessment of reflective practice. Part II of this paper conceptualises reflective practice, and Part III explores the benefits of reflective practice in legal education and the use of reflective writing to assess experiential learning in a legal context. Part IV considers the diverse issues that arise in assessing reflective practice and whether there is an objective method for assessing reflection. Part V of the paper examines the assessment of reflective practice in the context of an exemplar undergraduate law subject that uses a reflective report to assess students’ experiential learning during a court visit.14 Finally, Part VI offers a rubric to facilitate criterion-referenced assessment of reflective practice and thereby provides a framework for assessing reflection skills. It is suggested that the rubric is transferable not only to other law subjects but also to subjects in other disciplines.

Contemporary examples where doctors are not immune from non-fatal offences against a person

While it is uncontested that the medical profession makes a valuable contribution to society, doctors should not always be beyond the reach of the criminal law and they should not automatically be treated as God. Doctors should act reasonably and be conscious of their position of trust. In this sense, the notion of “doctors” is construed broadly to include a range of health care professionals such as podiatrists, radiographers, surgeons and general practitioners. This paper will explore contemporary Australian examples where doctors have acted inappropriately and been convicted of non-fatal offences against the person. The physical invasiveness involved in these scenarios varies significantly. In one example, a doctor penetrates a patient’s private body part with a probe for their own sexual gratification, and in another, a doctor covertly visually records a naked patient. The examples will be connected to the theories underpinning criminalisation, particularly social welfare and individual autonomy, with a view to framing guidelines on when doctors should not be immune from non-fatal offences against a person, and thus where the criminal law should respond.

Analyzing web multimedia query reformulation behavior

Current multimedia Web search engines still use keywords as the primary means to search. Due to the richness in multimedia contents, general users constantly experience some difficulties in formulating textual queries that are representative enough for their needs. As a result, query reformulation becomes part of an inevitable process in most multimedia searches. Previous Web query formulation studies did not investigate the modification sequences and thus can only report limited findings on the reformulation behavior. In this study, we propose an automatic approach to examine multimedia query reformulation using large-scale transaction logs. The key findings show that search term replacement is the most dominant type of modifications in visual searches but less important in audio searches. Image search users prefer the specified search strategy more than video and audio users. There is also a clear tendency to replace terms with synonyms or associated terms in visual queries. The analysis of the search strategies in different types of multimedia searching provides some insights into user’s searching behavior, which can contribute to the design of future query formulation assistance for keyword-based Web multimedia retrieval systems.

Project culture in the Chinese construction industry : perceptions of contractors

In recent years culture has become one of the most studied topics in project management research. Some studies have investigated the influence of culture at different levels – such as national culture, industry culture, organisational culture and professional culture. As a project-based industry, the construction industry needs to have more insight concerning cultural issues at the project level and their influence on the performance of construction projects. Few studies, however, have focused on culture at the project level. This paper uses a questionnaire survey to determine the perceptions of Chinese contractors about the impact of project culture on the performance of local construction projects. This is augmented by a series of in-depth interviews with senior executive managers in the industry. The findings indicate that specific project culture does contribute significantly towards project outcomes. In particular, goal orientation and flexibility, as two dimensions of project culture, have a negative statistical correlation with perceived satisfaction of the process, commercial success, future business opportunities, lessons learnt from the project, satisfaction with the relationships, and overall performance. This paper also indicates that the affordability of developing an appropriate project culture is a major concern for industry practitioners.

Virtual mooting : using technology to enhance the mooting experience

While a range of benefits to students participating in mooting have been identified by the legal education literature, there are impediments to students participating in mooting that have been revealed by recent surveys of law students at QUT. These impediments include time, geographical location and a failure to perceive the benefits of mooting. This paper will explore the benefits of using technology to overcome these impediments, evaluate technological options to facilitate distance mooting, such as the use of Second Life, Elluminate and video conferencing, and will recommend a trial of these options.

Leaving a legacy : bequest giving in Australia

This article considers what drives donors to leave charitable bequests. Building on theories of charitable bequest giving, we consider two types of motivations for leaving a bequest: attitudinal and structural motivations. Using unique Australian data, we show that a strong belief in the efficacy of charitable organisations has a significant positive effect on the likelihood of leaving a bequest, as does past giving behaviour and having no children. As bequests constitute an important income stream for charitable organisations, this research can help fundraisers better target their marketing strategies towards those most likely to plan their estates and motivate these people to make bequests.

Cascading appearance-based features for visual speaker verification

The cascading appearance-based (CAB) feature extraction technique has established itself as the state of the art in extracting dynamic visual speech features for speech recognition. In this paper, we will focus on investigating the effectiveness of this technique for the related speaker verification application. By investigating the speaker verification ability of each stage of the cascade we will demonstrate that the same steps taken to reduce static speaker and environmental information for the speech recognition application also provide similar improvements for speaker recognition. These results suggest that visual speaker recognition can improve considerable when conducted solely through a consideration of the dynamic speech information rather than the static appearance of the speaker's mouth region.