Valuation of family firms : the limitations of accounting information

This conceptual paper explores the extent to which reported accounting information captures unique family firm decision-making and intangible asset factors that impact financial value. We review the family firm valuation-relevant literature and identify that this body of research is predicated on the assumption that accounting information reflects the underlying reality of family firms. This research, however, fails to recognise that current accounting technology does not fully recognise the family firm factors in the book value of the firm or the implications for long run persistence of earnings. Thus, valuation models underpinning the extant empirical research, which are predicated on reported accounting information, may not fully reflect the intrinsic value of family firms. We present propositions on the interaction between accounting information, family factors and valuation as a road map for future empirical research with a discussion of appropriate methodologies.

Improvising a future in the performing arts : a new strategy to help performance studies students successfully shift between academic culture, professional culture, industry and career?

If there is one thing performance studies graduates should be good at, it is improvising – play and improvisation are central to the contemporary and cultural performance practices we teach and the methods by which we teach them. Objective, offer, acceptance, advancing, reversing, character, status, manipulation, impression management, relationship management – whether we know them from Keith Johnson’s theatre theories or Erving Goffman’s theatre theories, the processes by which we play out a story, scenario or social situation to our own benefit are familiar. We understand that identity, action, interaction and its personal, aesthetic, professional or political outcomes are unpredictable, and that we need to adapt to changeable and uncertain circumstances to achieve our aims. Intriguingly, though, in a Higher Education environment that increasingly emphasises employability, skills in play, improvisation and self-performance are never cited as critical graduate attributes. Is the ability to play, improve and produce spontaneous new self-performances learned in the academy worth articulating into an ability to play, improvise and product spontaneous new self-performances after graduates leave the academy and move into the role of a performing arts professional in industry? A study of the career paths of our performance studies graduates over the past decade suggests that addressing the challenges they face in moving between academic culture, professional culture, industry and career in terms of improvisation and play principles may be very productive. In articles on performing arts careers, graduates are typically advised to find a market for their work, and develop career self-management, management and marketing skills, together with an ability to find, make and maintain relationships and opportunities for themselves. Transitioning to career is cast as a challenging process, requiring these skills, because performing arts careers do not offer the security, status and stability of other careers. Our data confirms this. In our study, though, we found that strategies commonly used to build the resilience, self-reliance and persistence graduates require – talking about portfolio careers, parallel careers, and portable, transferable or translatable skills, for example – can engender panic as easily as they engender confidence. In this paper, I consider what happens when we re-articulate some of the skills scholars and industry stakeholders argue are critical in allowing graduates to shift successfully from academy to industry in terms of skills like improvisation, play and self-performance that are already familiar, meaningful and much-practiced amongst performance studies graduates.

Ecological dynamics as a theoretical framework for development of sustainable behaviours towards the environment

This paper proposes how the theoretical framework of ecological dynamics can provide an influential model of the learner and the learning process to pre-empt effective behaviour changes. Here we argue that ecological dynamics supports a well established model of the learner ideally suited to the environmental education context because of its emphasis on the learner-environment relationship. The model stems from perspectives on behaviour change in ecological psychology and dynamical systems theory. The salient points of the model are highlighted for educators interested in manipulating environmental constraints in the learning process, with the aim of designing effective learning programs in environmental education. We conclude by providing generic principles of application which might define the learning process in environmental education programs.

Informational constraints on the emergence of passing direction in the team sport of futsal

This study investigated compound spatial and temporal measures of interpersonal interactions purported to constrain the emergence of affordances for passing direction in the team sport of futsal. For this purpose, attacker–defender interactions in 37 sequences of play from a futsal competition in which 24 male professional players participated (M=30.04 years, SD=4.10) were filmed and analysed using TACTO software. Relative angle data were used as measures to study coordination tendencies that emerged between players during performance. Results showed that the direction for a pass emerged from relative angles between: (1) the vector from a ball carrier to ball receiver and the vector from the ball carrier to the nearest defender (70°) (p<0.01) and (2) the vector from a ball carrier to ball receiver and the vector from the ball carrier to a ball receiver's nearest defender (31°) (p < 0.01). Furthermore, passing direction was also constrained by temporal information from the emergence of both angles, since the pass was performed to attacker–defender dyads with the highest velocities of these angles (p < 0.05). Results suggested that decisions on selecting the direction of a pass in the team sport of futsal emerged at critical values of these key compound motion measures.

Nitrous oxide emissions from subtropical horticultural soils : a time series analysis

Time series regression models were used to examine the influence of environmental factors (soil water content and soil temperature) on the emissions of nitrous oxide (N2O) from subtropical soils, by taking into account temporal lagged environmental factors, autoregressive processes, and seasonality for three horticultural crops in a subtropical region of Australia. Fluxes of N2O, soil water content, and soil temperature were determined simultaneously on a weekly basis over a 12-month period in South East Queensland. Annual N2O emissions for soils under mango, pineapple, and custard apple were 1590, 1156, and 2038 g N2O-N/ha, respectively, with most emissions attributed to nitrification. The N2O-N emitted from the pineapple and custard apple crops was equivalent to 0.26 and 2.22%, respectively, of the applied mineral N. The change in soil water content was the key variable for describing N2O emissions at the weekly time-scale, with soil temperature at a lag of 1 month having a significant influence on average N2O emissions (averaged) at the monthly time-scale across the three crops. After accounting for soil temperature and soil water content, both the weekly and monthly time series regression models exhibited significant autocorrelation at lags of 1–2 weeks and 1–2 months, and significant seasonality for weekly N2O emissions for mango crop and for monthly N2O emissions for mango and custard apple crops in this location over this time-frame. Time series regression models can explain a higher percentage of the temporal variation of N2O emission compared with simple regression models using soil temperature and soil water content as drivers. Taking into account seasonal variability and temporal persistence in N2O emissions associated with soil water content and soil temperature may lead to a reduction in the uncertainty surrounding estimates of N2O emissions based on limited sampling effort.

Complicated working time arrangements : construction industry case study

This paper extends the understanding of working-time changes and work-life balance (WLB) through analyzing a case study where a reduction in working hours designed to assist the workforce in balancing work and nonwork life was implemented. An alliance project in the Australian construction industry was established initially with a 5-day working week, a departure from the industry-standard 6-day week. However, a range of factors complicated the success of this initiative, and the industry-standard 6-day working week was reinstated for the project. The authors argue that this case is valuable in determining the complex mix of influences that work against a wholesale or straightforward adoption of working-time adjustments and work-life balance practices. It is concluded that although the prevailing workplace culture is considered an important factor in the determination of working time, structural and workplace principles and practices may also be critical in working to secure the successful introduction of working-time reduction and work-life balance initiatives in the construction industry in the future.

Scaffolds for growth factor delivery as applied to bone tissue engineering

There remains a substantial shortfall in treatment of severe skeletal injuries. The current gold standard of autologous bone grafting from the same patient, has many undesirable side effects associated such as donor site morbidity. Tissue engineering seeks to offer a solution to this problem. The primary requirements for tissue engineered scaffolds have already been well established, and many materials, such as polyesters, present themselves as potential candidates for bone defects; they have comparable structural features, but they often lack the required osteoconductivity to promote adequate bone regeneration. By combining these materials with biological growth factors; which promote the infiltration of cells into the scaffold as well as the differentiation into the specific cell and tissue type, it is possible to increase the formation of new bone. However cost and potential complications associated with growth factors means controlled release is an important consideration in the design of new bone tissue engineering strategies. This review will cover recent research in the area of encapsulation and release of growth factors within a variety of different polymeric scaffolds.

Effect of a novel compound from Lycopodium obscurum L. on osteogenic activity of osteoblasts in vitro

We investigated the potential of an extract of Lycopodium obscurum L.; stigmastane-3-oxo-21-oic acid (SA), to enhance osteogensis of mouse osteoblastic MC3T3-E1 cells. SA at a concentration of 16 µM was found to have no significant effect upon the viability of the cells, thus concentrations of 8 µM and 16 µM of SA were used in all further experiments. Both concentrations of SA had an inhibitory affect upon alkaline phosphatase activity (ALP) after 8 days incubation, however, after 16 days activity was restored to control levels. However Alizarin red S staining showed increased levels of mineralization for both concentrations after 16 days culture. Real time PCR showed inhibition of genes Runx2 and Osterix genes responsible for the up-regulation of ALP. However early time point (8 days) up-regulation of bone matrix mineralization genes OPN and OCN, and late time point (16 days) up-regulation of both Jun-D and Fra-2 mRNA expression was significantly enhanced. These results suggest a potential me-chanism of SA in enhancing bone fracture healing is through the up-regulating bone matrix minera-lization.

New Voices, New Visions

New Voices, New Visions brings together a collection of papers that engage with the ideas of nation, identity and place. The title New Voices, New Visions harks back to earlier scholarship that endeavoured to explore these issues. It therefore makes links between old and new stories of Australian identity, tracing the continuities, shifts and changes in how Australia is imagined. The collection is deliberately interdisciplinary, gathering work by historians, literary and film scholars, communication and cultural theorists, political scientists and sociologists. This mixed perspectives enables the reader to trace ideas, concepts and theories across a range of disciplines and understand the distinctive ways in which different disciplines engage with ideas of nation, space and Australian identity. The book is written in an engaging and accessible manner, making it an excellent text for undergraduate and postgraduate students in the fields of Australian Studies. It will be especially useful for the growing number of students living outside Australia who engage with Australian literature and culture. The book provides a range of topics that introduces students to key issues and concepts. It also situates these ideas in historical context. New Voices, New Visions engages with key contemporary issues in everyday Australian life: environment and climate change, immigration, consumerism, travel and cities. It explores these various topics by considering case studies, both contemporary and historical. For example the issue of attitudes to Asia are analysed through art; the topic of national symbols through the case of the crocodile; approaches to immigration via a popular reality television programme.

Re-imagining utopias: The bat/human project

The making of the modern world has long been fuelled by utopian images that are blind to ecologi- cal reality. Botanical gardens are but one example – who typically portray themselves as miniature, isolated 'edens on earth', whereas they are now in many cases self-evidently also the vital ‘lungs’ of crowded cities, as well as critical habitats for threat- ened biodiversity. In 2010 the 'Remnant Emergency Art lab' set out to question utopian thinking through a creative provocation called the 'Botanical Gardens ‘X-Tension’ - an imagined city-wide, distributed, network of 'ecological gardens' suited to both bat and human needs, in order to ask, what now needs to be better understood, connected and therefore ultimately conserved.

Finitude (V03)

WHAT: An interactive installation with full body interface, digital projection, multi-touch sensitive screen surfaces, interactive 3D gaming software, motorised dioramas, 4.1 spatial sound & new furniture forms - investigating the cultural dimensions of sustainability through the lens of 'time'. “Time is change, time is finitude. Humans are a finite species. Every decision we make today brings that end closer, or alternatively pushes it further away. Nothing can be neutral”. Tony Fry DETAILS: Each participant/viewer lies comfortably on their back. Directly above them is a semi-transparent Perspex screen that displays projected 3D imagery and is simultaneously sensitive to the lightest of finger touches. Depending upon the ever changing qualities of the projected image on this screen the participant can see through its surface to a series of physical dioramas suspended above, lit by subtle LED spotlighting. This diorama consists of a slowly rotating series of physical environments, which also include several animatronic components, allowing the realtime composition of whimsical ‘landscapes’ of both 'real' and 'virtual' media. Through subtle, non-didactic touch-sensitive interactivity the participant then has influence over both the 3D graphic imagery, the physical movements of the diorama and the 4 channel immersive soundscape, creating an uncanny blend of physical and virtual media. Five speakers positioned around the room deliver a rich interactive soundscape that responds both audibly and physically to interactions.

The legitimation and reproduction of discourse-practice gaps in work-life balance

Purpose - Critical scholarship on work-life balance (WLB) and its associated practices maintains that workplace flexibility is more than a quasi-functionalist response to contemporary problems faced by individuals, families or organisations. Beginning with Fleetwood’s contention that WLB discourses have become "detached" from their associated practices, this paper explores how workplace practices support or challenge dominant WLB discourses evident in socio-cultural, political and organisational sources. Design/methodology/approach - We analyse individual and group interview transcripts derived from 122 white-collar employees in two different organisational contexts (one public, one private) in the construction industry in Australia. Findings - Four major themes were identified in the data which illustrate discourse practice gaps. First, the demands facing this particular industry/ sector were framed as heightened and unique. Second, productivity was prioritised, dominating employees’ care-giving and lifestyle concerns. Third, employees’ caring responsibilities were communicated as personal and individual choices. Fourth, commitment and efficiency were judged on the basis of presence in the workplace. Research limitations/implications - Even in industries that have embraced WLB, workplace practices legitimate and reinforce the status quo, and maintain a gap between the promises of WLB and its potential to ameliorate conflict and assist workers to span the boundaries of paid work and other life domains. Originality/value - While the practices demonstrated in the research are focused on one industry, the study provides a critical analysis of how the contextually-influenced meaning of WLB is constructed, created and contested in these workplaces and the effects it produces.

An assessment for cost effective maintenance and operation of the Callide Power Station electrical system, using reliability evaluation

The reliable operation of the electrical system at Callide Power Station is of extreme importance to the normal everyday running of the Station. This study applied the principles of reliability to do an analysis on the electrical system at Callide Power Station. It was found that the level of expected outage cost increased exponentially with a declining level of maintenance. Concluding that even in a harsh economic electricity market where CS Energy tries and push their plants to the limit, maintenance must not be neglected. A number of system configurations were found to increase the reliability of the system and reduce the expected outage costs. A number of other advantages were identified as a result of using reliability principles to do this study on the Callide electrical system configuration.

Early evidence for direct and indirect effects of the infant rotavirus vaccine program in Queensland

Objective: To assess the impact of introducing a publicly funded infant rotavirus vaccination program on disease notifications and on laboratory testing and results. Design and setting: Retrospective analysis of routinely collected data (rotavirus notifications [2006–2008] and laboratory rotavirus testing data from Queensland Health laboratories [2000–2008]) to monitor rotavirus trends before and after the introduction of a publicly funded infant rotavirus vaccination program in Queensland in July 2007. Main outcome measures: Age group-specific rotavirus notification trends; number of rotavirus tests performed and the proportion positive. Results: In the less than 2 years age group, rotavirus notifications declined by 53% (2007) and 65% (2008); the number of laboratory tests performed declined by 3% (2007) and 15% (2008); and the proportion of tests positive declined by 45% (2007) and 43% (2008) compared with data collected before introduction of the vaccination program. An indirect effect of infant vaccination was seen: notifications and the proportion of tests positive for rotavirus declined in older age groups as well. Conclusions: The publicly funded rotavirus vaccination program in Queensland is having an early impact, direct and indirect, on rotavirus disease as assessed using routinely collected data. Further observational studies are required to assess vaccine effectiveness. Parents and immunisation providers should ensure that all Australian children receive the recommended rotavirus vaccine doses in the required timeframe.