Foreign wine consumption in Australia : the influence of consumer perceptions to foreign cultures on wine choice

Research has shown that while some people favor foreign- sourced products, others prefer to purchase goods made in their own country. From the perspective of the Australian wine market, consumption of wine has been consistently increasing in recent years. While sales of Australian made wine is booming, sales of imported sources is also increasing in terms of dollar value. This paper examines the effect of consumer ethnocentrism and animosity on willingness to buy foreign wine products, in an effort to better understand the factors involved in the consumer decision making process when purchasing wine products.

Notification of data breaches under the continuous disclosure regime

Consumer personal information is now a valuable commodity for most corporations. Concomitant with increased value is the expansion of new legal obligations to protect personal information. Mandatory data breach notification laws are an important new development in this regard. Such laws require a corporation that has suffered a data breach, which involves personal information, such as a computer hacking incident, to notify those persons who may have been affected by the breach. Regulators may also need to be notified. Australia currently does not have a mandatory data breach notification law but this may be about to change. The Australian Law Reform Commission has suggested that a data breach notification scheme be implemented through the Privacy Act 1988 (Cth). However, the notification of data breaches may already be required under the continuous disclosure regime stipulated by the Corporations Act 2001 (Cth) and the Australian Stock Exchange (ASX) Listing Rules. Accordingly, this article examines whether the notification of data breaches is a statutory requirement of the existing continuous disclosure regime and whether the ASX should therefore be notified of such incidents.

Optimum demand side response of smart grid with renewable energy source and electrical vehicles

The paper presents a demand side response scheme,which assists electricity consumers to proactively control own demands in such a way to deliberately avert congestion periods on the electrical network. The scheme allows shifting loads from peak to low demand periods in an attempt to flattening the national electricity requirement. The scheme can be concurrently used to accommodate the utilization of renewable energy sources,that might be available at user’s premises. In addition the scheme allows a full-capacity utilization of the available electrical infrastructure by organizing a wide-use of electric vehicles. The scheme is applicable in the Eastern and Southern States of Australia managed by the Australian Energy Market Operator. The results indicate the potential of the scheme to achieve energy savings and release capacity to accommodate renewable energy and electrical vehicle technologies.

Towards testing the eclectic paradigm on multinational contracting: an approach to reviewing and analysing secondary data

In response to the need to leverage private finance and the lack of competition in some parts of the Australian public sector major infrastructure market, especially in very large economic infrastructure procured using Pubic Private Partnerships, the Australian Federal government has demonstrated its desire to attract new sources of in-bound foreign direct investment (FDI) into the Australian construction market. This paper aims to report on progress towards an investigation into the determinants of multinational contractors’ willingness to bid for Australian public sector major infrastructure projects and which is designed to give an improved understanding of matters surrounding FDI into the Australian construction sector. This research deploys Dunning’s eclectic theory for the first time in terms of in-bound FDI by multinational contractors and as head contractors bidding for Australian major infrastructure public sector projects. Elsewhere, the authors have developed Dunning’s principal hypothesis associated with his eclectic framework in order to suit the context of this research and to address a weakness arising in Dunning’s principal hypothesis that is based on a nominal approach to the factors in the eclectic framework and which fail to speak to the relative explanatory power of these factors. In this paper, an approach to reviewing and analysing secondary data, as part of the first stage investigation in this research, is developed and some illustrations given, vis-à-vis the selected sector (roads, bridges and tunnels) in Australia (as the host location) and using one of the selected home countries (Spain). In conclusion, some tentative thoughts are offered in anticipation of the completion of the first stage investigation - in terms of the extent to which this first stage based on secondary data only might suggest the relative importance of the factors in the eclectic framework. It is noted that more robust conclusions are expected following the future planned stages of the research and these stages including primary data are briefly outlined. Finally, and beyond theoretical contributions expected from the overall approach taken to developing and testing Dunning’s framework, other expected contributions concerning research method and practical implications are mentioned.

Integrating electrical vehicles to demand side response scheme in Queensland Australia

Depleting fossil fuel resources and increased accumulation of greenhouse gas emissions are increasingly making electrical vehicles (EV) attractive option for the transportation sector. However uncontrolled random charging and discharging of EVs may aggravate the problems of an already stressed system during the peak demand and cause voltage problems during low demand. This paper develops a demand side response scheme for properly integrating EVs in the Electrical Network. The scheme enacted upon information on electricity market conditions regularly released by the Australian Energy Market Operator (AEMO) on the internet. The scheme adopts Internet relays and solid state switches to cycle charging and discharging of EVs. Due to the pending time-of-use and real-price programs, financial benefits will represent driving incentives to consumers to implement the scheme. A wide-scale dissemination of the scheme is expected to mitigate excessive peaks on the electrical network with all associated technical, economic and social benefits.

The Profiling of Property, Plant & Equipment (PPE) Contributions in Australia and Malaysia Public Listed Construction Companies

The purpose of this paper is to study the profiling of property, plant and equipment (PPE) contributions in Australia and Malaysia construction companies. A company’s worth is usually based on the listed share price on the stock exchange. In arriving at the net profit, the contribution of PPE in the company’s assets is somehow being neglected. This paper will investigate the followings; firstly the level of PPE contribution in the construction firms by comparing the PPE contributions to the company’s asset as a whole which includes fixed (non-current) assets and current assets. This will determine the true strength of the companies, rather than relying on the share prices alone. Secondly, the paper will determine the trend of company’s asset ownership to show the company’s performance of the PPE ownership during the period of study. The data is based on the selected construction companies listed on the Australian Stock Exchange (ASX) and Malaysian Stock Exchange, known as Bursa Malaysia. The profiling will help to determine the strength of the construction firms based on the PPE holding, and the level of PPE ownerships in the two countries construction firms during the period of study.

Corporate governance and misappropriation

This study examines the occurrence of misappropriation-type fraud within Australian listed firms and the relation between the incidence of this type of fraud and a firm's governance strength. We measure governance strength using factors relating to traditional corporate governance, such as board composition, CEO duality, and audit committee composition, as well as factors relating to information technology governance. In our study, we use actual dollar amount of fraud reported by listed companies responding to the 2004 KPMG Fraud Survey as one of three different misappropriation measures and publicly available firm-specific data to measure the other variables in the model. Our study found that where the chief executive officer (CEO) also holds the position of chairperson of the board of directors, the likelihood of fraud increases. We also find that the greater the number of independent directors on the audit committee, the lower the level of fraud. Taken together, these results are particularly encouraging as they provide support for regulatory bodies such as the Australian Stock Exchange (ASX) and the Australian Securities and Investment Commission (ASIC), which place considerable emphasis on the importance of establishing good corporate governance practices. The study provides empirical evidence that employing good corporate governance reduces the risk of the misappropriation of assets.

Risks of Carbon Fraud

Carbon credit markets are in the early stages of development and media headlines such as these illustrate emerging levels of concern and foreboding over the potential for fraudulent crime within these markets. Australian companies are continuing to venture into the largely unregulated voluntary carbon credit market to offset their emissions and / or give their customers the opportunity to be ‘carbon neutral’. Accordingly, the voluntary market has seen a proliferation of carbon brokers that offer tailored offset carbon products according to need and taste. With the instigation of the Australian compliance market and with pressure increasing for political responses to combat climate change, we would expect Australian companies to experience greater exposure to carbon products in both compliance and voluntary markets. This paper examines the risks of carbon fraud in these markets by reviewing cases of actual fraud and analysing and identifying contexts where risks of carbon fraud are most likely.

Every One, Every Day

Creative Statement: “There are those who see Planet Earth as a gigantic living being, one that feeds and nurtures humanity and myriad other species – an entity that must be cared for. Then there are those who see it as a rock full of riches to be pilfered heedlessly in a short-term quest for over-abundance. This ‘cradle to grave’ mentality, it would seem, is taking its toll (unless you’re a virulent disbeliever in climate change). Why not, ask artists Priscilla Bracks and Gavin Sade, take a different approach? To this end they have set out on a near impossible task; to visualise the staggering quantity of carbon produced by Australia every year. Their eerie, glowing plastic cube resembles something straight out of Dr Who or The X Files. And, like the best science fiction, it has technical realities at its heart. Every One, Every Day tangibly illustrates our greenhouse gas output – its 27m3 volume is approximately the amount of green-house gas emitted per capita, daily. Every One, Every Dayis lit by an array of LED’s displaying light patterns representing energy use generated by data from the Australian Energy Market. Every One, Every Day was formed from recycled, polyethylene – used milk bottles – ‘lent’ to the artists by a Visy recycling facility. At the end of the Vivid Festival this plastic will be returned to Visy, where it will re-enter the stream of ‘technical nutrients.’ Could we make another world? One that emulates the continuing cycles of nature? One that uses our ‘technical nutrients’ such as plastic and steel in continual cycles, just like a deciduous tree dropping leaves to compost itself and keep it’s roots warm and moist?” (Ashleigh Crawford. Melbourne – April, 2013) Artistic Research Statement: The research focus of this work is on exploring how to represent complex statistics and data at a human scale, and how produce a work where a large percentage of the materials could be recycled. The surface of Every One, Every Day is clad in tiles made from polyethylene, from primarily recycled milk bottles, ‘lent’ to the artists by the Visy recycling facility in Sydney. The tiles will be returned to Visy for recycling. As such the work can be viewed as an intervention in the industrial ecology of polyethylene, and in the process demonstrates how to sustain cycles of technical materials – by taking the output of a recycling facility back to a manufacturer to produce usable materials. In terms of data visualisation, Every One, Every Day takes the form of a cube with a volume of 27 cubic meters. The annual per capita emissions figures for Australia are cited as ranging between 18 to 25 tons. Assuming the lower figure, 18tons per capital annually, the 27 cubic meters represents approximately one day per capita of CO2 emissions – where CO2 is a gas at 15C and 1 atmosphere of pressure. The work also explores real time data visualisation by using an array of 600 controllable LEDs inside the cube. Illumination patterns are derived from a real time data from the Australian Energy Market, using the dispatch interval price and demand graph for New South Wales. The two variables of demand and price are mapped to properties of the illumination - hue, brightness, movement, frequency etc. The research underpinning the project spanned industrial ecology to data visualization and public art practices. The result is that Every One, Every Day is one of the first public artworks that successfully bring together materials, physical form, and real time data representation in a unified whole.

The employment effects of gender discrimination in Australia 1994-95

Interpreting the unexplained component of the gender wage gap as indicative of discrimination, the empirical literature to date has tended to ignore the potential impact wage discrimination may have on employment. Clearly, employment effects will arise if discrimination lowers the female offered wage and the labour supply curve is upward sloping. The empirical analysis employs the ABS Income Distribution Survey 1994–95 and finds evidence of both wage and associated employment effects. The analysis is replicated for the earlier period 1989–90. A comparison across time is of interest given the substantial deregulation of the Australian labour market over the period.

Smart grid-demand side response model to mitigate prices and peak impact on the electrical system

The aims of this project is to develop demand side response model which assists electricity consumers who are exposed to the market price through aggregator to manage the air-conditioning peak electricity demand. The main contribution of this research is to show how consumers can optimise the energy cost caused by the air-conditioning load considering the electricity market price and network overload. The model is tested with selected characteristics of the room, Queensland electricity market data from Australian Energy Market Operator and data from the Bureau of Statistics on temperatures in Brisbane, during weekdays on hot days from 2011 - 2012.

Demand-side response model to avoid spike of electricity price

The aim of this work is to develop a demand-side-response model, which assists electricity consumers exposed to the market price to independently and proactively manage air-conditioning peak electricity demand. The main contribution of this research is to show how consumers can optimize the energy cost caused by the air conditioning load considering to several cases e.g. normal price, spike price, and the probability of a price spike case. This model also investigated how air-conditioning applies a pre-cooling method when there is a substantial risk of a price spike. The results indicate the potential of the scheme to achieve financial benefits for consumers and target the best economic performance for electrical generation distribution and transmission. The model was tested with Queensland electricity market data from the Australian Energy Market Operator and Brisbane temperature data from the Bureau of Statistics regarding hot days from 2011 to 2012.

Do airlines always suffer from crashes?

We examine the impact of aviation disasters on the stock prices of the crash airlines and their rival airlines. Results show that the crash airlines experience deeper negative abnormal returns as the degree of fatality increases. The stock prices of the rival airlines also suffer in large-scale disasters but benefit from the disasters when the fatality is minor.

Impacts of introduced aquaculture species on markets for native marine aquaculture products : the case of edible oysters in Australia

Economic competition between introduced and native aquaculture species is of interest for industry stakeholders since increased production can affect price formation if both aquaculture species are part of the same market or even substitutes. In this study, we focus on the Australian edible oyster industry, which is dominated by two major species—the native Sydney rock oyster (grown mainly in Queensland and New South Wales) and the non-native Pacific oyster (grown mainly in South Australia and Tasmania). We examine the integration of the Australian oyster market to determine if there exists a single or several markets. Short- and long-run own, cross-price and income flexibilities of demand are estimated for both species using an inverse demand system of equations. The results suggest that the markets for the two species are integrated. We found evidence that the development of the Pacific oyster industry has had an adverse impact on Sydney rock oyster prices. However, our results show that both species are not perfect substitutes. Demand for Sydney rock oysters is relatively inelastic in the long run, yet no long-run relationships can be identified for Pacific oysters, reflecting the developing nature of this sector.

Enhancing information about sustainability features for sustainable housing delivery

Sustainability practices in government regulations and within the society influence the delivery of sustainable housing. The actual delivery rate of Australian sustain-able housing is not as high as other countries. There is an absence of engagement by stakeholders in adopting sustainable housing practices. This may be due, in the current Australian property market, to confusion as to what sustainability features should be considered, given the large range of environmental, economic and social sustainability options possible. One of the main problems appears to be that information demanders, especially real estate agents, valuers, insurance agents and mortgage lenders do not include sustainability perspectives in their advice or in their decision processes. Information distribution in the Australian property market is flawed, resulting in a lack of return-on-investment value of ‘green’ features implemented by some stakeholders. This paper reviewed the global sustainable development concept and Australian sustainable assessment methods. This review identified the possibility of a research project which aimed at identifying and integrating different perceptions and priority needs of the information demanders, for developing a model for the potential implementation of sustainability features distribution in the property industry. This research will reduce confusion on the sustainability-related information which can influence the decision making of stakeholders in the supply and demand of sustainable housing.