A-REIT seasoned equity offerings : determinants and market reaction

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 using panel data and event study methodologies, respectively. The global financial crisis has resulted in freezing of the Australian bond markets, with several A-REITs left with seasoned equity issuance and asset sales as the only viable modes of raising additional capital. The findings review that leverage and operating risk are negative significant determinants of seasoned equity offerings; profitability and growth opportunities are positive significant determinants. Of the structure and type of properties held by the A-REIT, only stapled management structure and international operations are significant determinants. Type of properties held by A-REITs show inconsistent results. 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. Cross-sectional regressions show that the issued amount raised and leverage are significant factors affecting abnormal returns.

Sodium 2-nitrocinnamate dihydrate: a one-dimensional hydrogen-bonded coordination polymer

The title compound catena-poly[aqua-mu3-2-nitrocinnamato], [Na(C9H6NO4)(H2O)2]n, the sodium salt of trans-2-nitrocinnamic acid, is a one-dimensional coordination polymer based on six-coordinate octahedral NaO6 centres comprising three facially-related monodentate carboxylate O-atom donors from separate ligands (all bridging)[Na-O, 2.4370(13)-2.5046(13)A] and three water molecules (two bridging, one monodentate) [Na-O, 2.3782(13)-2.4404(17)A]. The structure is also stabilized by intra-chain water-O-H...O(carboxylate) and O-H...O(nitro) hydrogen bonds.

Zero- one- and two-dimensional hydrogen-bonded structures in the 1:1 proton-transfer compounds of 4,5-dichlorophthalic acid with the monocyclic heteroaromatic Lewis bases 2-aminopyrimidine, nicotinamide and isonicotinamide

The structures of the anhydrous 1:1 proton-transfer compounds of 4,5-dichlorophthalic acid (DCPA) with the monocyclic heteroaromatic Lewis bases 2-aminopyrimidine, 3-(aminocarboxy) pyridine (nicotinamide) and 4-(aminocarbonyl) pyridine (isonicotinamide), namely 2-aminopyrimidinium 2-carboxy-4,5-dichlorobenzoate C4H6N3+ C8H3Cl2O4- (I), 3-(aminocarbonyl) pyridinium 2-carboxy-4,5-dichlorobenzoate C6H7N2O+ C8H3Cl2O4- (II) and the unusual salt adduct 4-(aminocarbonyl) pyridinium 2-carboxy-4,5-dichlorobenzoate 2-carboxymethyl-4,5-dichlorobenzoic acid (1/1/1) C6H7N2O+ C8H3Cl2O4-.C9H6Cl2O4 (III) have been determined at 130 K. Compound (I) forms discrete centrosymmetric hydrogen-bonded cyclic bis(cation--anion) units having both R2/2(8) and R2/1(4) N-H...O interactions. In compound (II) the primary N-H...O linked cation--anion units are extended into a two-dimensional sheet structure via amide-carboxyl and amide-carbonyl N-H...O interactions. The structure of (III) reveals the presence of an unusual and unexpected self-synthesized methyl monoester of the acid as an adduct molecule giving one-dimensional hydrogen-bonded chains. In all three structures the hydrogen phthalate anions are

Proton-transfer versus nontransfer in compounds of the diazo-dye precursor 4-(phenyldiazenyl) aniline (aniline yellow) with strong organic acids: the 5-sulfosalicylate and the dichroic benzenesulfonate salts, and the 1:2 adduct with 3,5-dinitrobenzoic

The structures of two 1:1 proton-transfer red-black dye compounds formed by reaction of aniline yellow [4-(phenyldiazenyl)aniline] with 5-sulfosalicylic acid and benzenesulfonic acid, and a 1:2 nontransfer adduct compound with 3,5-dinitrobenzoic acid have been determined at either 130 or 200 K. The compounds are 2-(4-aminophenyl)-1-phenylhydrazin-1-ium 3-carboxy-4-hydroxybenzenesulfonate methanol solvate, C12H12N3+.C7H5O6S-.CH3OH (I), 2-(4-aminophenyl)-1-hydrazin-1-ium 4-(phenydiazinyl)anilinium bis(benzenesulfonate), 2C12H12N3+.2C6H5O3S-, (II) and 4-(phenyldiazenyl)aniline-3,5-dinitrobenzoic acid (1/2) C12H11N3.2C~7~H~4~N~2~O~6~, (III). In compound (I) the diaxenyl rather than the aniline group of aniline yellow is protonated and this group subsequently akes part in a primary hydrogen-bonding interaction with a sulfonate O-atom acceptor, producing overall a three-dimensional framework structure. A feature of the hydrogen bonding in (I) is a peripheral edge-on cation-anion association involving aromatic C--H...O hydrogen bonds, giving a conjoint R1/2(6)R1/2(7)R2/1(4)motif. In the dichroic crystals of (II), one of the two aniline yellow species in the asymmetric unit is diazenyl-group protonated while in the other the aniline group is protonated. Both of these groups form hydrogen bonds with sulfonate O-atom acceptors and thee, together with other associations give a one-dimensional chain structure. In compound (III), rather than proton-transfer, there is a preferential formation of a classic R2/2(8) cyclic head-to-head hydrogen-bonded carboxylic acid homodimer between the two 3,5-dinitrobenzoic acid molecules, which in association with the aniline yellow molecule that is disordered across a crystallographic inversion centre, result in an overall two-dimensional ribbon structure. This work has shown the correlation between structure and observed colour in crystalline aniline yellow compounds, illustrated graphically in the dichroic benzenesulfonate compound.

ASERA : an uncontroversial evolution

The Australasian Science Education Research Association Ltd. (ASERA) is the oldest educational research association in Australasia. Starting as an informal meeting of science educators at Monash University in May 1970, it has evolved progressively without major controversy into a formally constituted limited company that promotes science education at all levels and contexts. There are no revelations of fractures within the association, and no accounts of major controversy, other than reference to a few grumbles here and there when changes were proposed. So, has the ASERA experience been positive and uplifting for all? Are there unspoken controversies? Can the uncontroversial be made controversial?

Multi-level order, friction and contradiction : the evolution of Australian film industry policy

Cultural policy studies have previously highlighted the importance of multiple logics, friction and contradiction in cultural policy. Recent developments in institutional theory provide a framework for analysing change in cultural policy which explores movement between these multiple and sometimes contradictory logics. This paper analyses the role of friction in the evolution of Australian film industry policy and in particular the tension between competing logics regarding nationalism, commercialism and the state. The paper is suggestive of the relevance of institutional theory as a framework for understanding cultural policy evolution.

Defining an Identity : The Evolution of Science Education

Research in science education is now an international activity. This book asks for the first time, Does this research activity have an identity?-It uses the significant studies of more than 75 researchers in 15 countries to see to what extent they provide evidence for an identity as a distinctive field of research.-It considers trends in the research over time, and looks particularly at what progression in the research entails.-It provides insight into how researchers influence each other and how involvement in research affects the being of the researcher as a person.-It addresses the relation between research and practice in a manner that sees teaching and learning in the science classroom as interdependent with national policies and curriculum traditions about science. It gives graduate students and other early researchers an unusual overview of their research area as a whole. Established researchers will be interested in, and challenged by, the identity the author ascribes to the research and by the plea he makes for the science content itself to be seen as problematic.

The evolution of a community of practice at the Queensland University of Technology for lecturers involved in large first year units

Communities of practice (CoPs) may be defined as groups of people who are mutually bound by what they do together (Wenger, 1998, p. 2), that is, they “form to share what they know, to learn from one another regarding some aspects of their work and to provide a social context for that work” (Nickols, 2000, para. 1). They are “emergent” in that the shape and membership emerges in the process of activity (Lees, 2005, p. 7). People in CoPs share their knowledge and experiences freely with the purpose of finding inventive ways to approach new problems (Wenger & Snyder, 2000, p. 2). They can be seen as “shared histories of learning” (Wenger, 1998, p. 86). For some time, QUT staff have been involved in a number of initiatives aimed at sharing ideas and resources for teaching first year students such as the Coordinators of Large First Year Units Working Party. To harness these initiatives and maximise their influence, the leaders of the Transitions In Project (TIP)1 decided to form a CoP around the design, assessment and management of large first year units.

Generalising unitary time evolution

In this third Quantum Interaction (QI) meeting it is time to examine our failures. One of the weakest elements of QI as a field, arises in its continuing lack of models displaying proper evolutionary dynamics. This paper presents an overview of the modern generalised approach to the derivation of time evolution equations in physics, showing how the notion of symmetry is essential to the extraction of operators in quantum theory. The form that symmetry might take in non-physical models is explored, with a number of viable avenues identified.

Fluorescence spectrometric study on the interactions of isoprocarb and sodium 2-isopropylphenate with bovine serum albumin

The binding interaction of the pesticide Isoprocarb and its degradation product, sodium 2-isopropylphenate, with bovine serum albumin (BSA) was studied by spectrofluorimetry under simulated physiological conditions. Both Isoprocarb and sodium 2-isopropylphenate quenched the intrinsic fluorescence of BSA. This quenching proceeded via a static mechanism. The thermodynamic parameters (ΔH°, ΔS° and ΔG°) obtained from the fluorescence data measured at two different temperatures showed that the binding of Isoprocarb to BSA involved hydrogen bonds and that of sodium 2-isopropylphenate to BSA involved hydrophobic and electrostatic interactions. Synchronous fluorescence spectroscopy of the interaction of BSA with either Isoprocarb or sodium 2-isopropylphenate showed that the molecular structure of the BSA was changed significantly, which is consistent with the known toxicity of the pesticide, i.e., the protein is denatured. The sodium 2-isopropylphenate, was estimated to be about 4–5 times more toxic than its parent, Isoprocarb. Synchronous fluorescence spectroscopy and the resolution of the three-way excitation–emission fluorescence spectra by the PARAFAC method extracted the relative concentration profiles of BSA, Isoprocab and sodium 2-isopropylphenate as a function of the added sodium 2-isopropylphenate. These profiles showed that the degradation product, sodium 2-isopropylphenate, displaced the pesticide in a competitive reaction with the BSA protein.

4-(2-hydroxyethyl)anilinium 3-carboxy-4-hydroxybenzenesulfonate monohydrate

In the structure of the title compound C8H12NO+ C7H5O6S- . H2O, from the reaction of 2-(4-aminophenyl)ethanol with 5-sulfosalicylic acid, the cations form head-to-tail hydrogen-bonded chains through C1/1(9) anilinium N+-H...O(hydroxyl} interactions while the anions also form similar but C1/1(8)-linked chains through carboxylic acid O-..O(sulfonate) interactions. The chains inter-associate through a number of N-H...O and O-H...O bridging interactions giving a two-dimensional array in the ab plane.

The Evolution of the creative industries : creative clusters, creative citizens and social network markets 創意產業的演化 : 創意集群 ,創意公民, 社會網絡市場 [published in Chinese]

The creative industries are important because they are clustered at the point of attraction for a billion or more young people around the world. They're the drivers of demographic, economic and political change. They start from the individual talent of the creative artist and the individual desire and aspiration of the audience. These are the raw materials for innovation, change and emergent culture, scaled up to form new industries and coordinated into global markets based on social networks.

Stability and convergence of an implicit numerical method for the non-linear fractional reaction-subdiffusion process

In this paper, we consider the following non-linear fractional reaction–subdiffusion process (NFR-SubDP): Formula where f(u, x, t) is a linear function of u, the function g(u, x, t) satisfies the Lipschitz condition and 0Dt1–{gamma} is the Riemann–Liouville time fractional partial derivative of order 1 – {gamma}. We propose a new computationally efficient numerical technique to simulate the process. Firstly, the NFR-SubDP is decoupled, which is equivalent to solving a non-linear fractional reaction–subdiffusion equation (NFR-SubDE). Secondly, we propose an implicit numerical method to approximate the NFR-SubDE. Thirdly, the stability and convergence of the method are discussed using a new energy method. Finally, some numerical examples are presented to show the application of the present technique. This method and supporting theoretical results can also be applied to fractional integrodifferential equations.

Why creative industries matter to economic evolution

This paper proposes that the 'creative industries'(CIs) play an important yet widely unexamined function in economic evolution through their role in the innovation process. This occurs in terms of the facilitation of demand for novelty, the provision and development of social technologies for producer-consumer interactions, and the adoption and embedding of new technologies as institutions. The incorporation of CIs into the Schumpeterian model of economic evolution thus fills a notable gap in the social technologies of the origination, adoption and retention of innovation.