Investor sentiment as conditioning information in asset pricing

This paper assesses whether incorporating investor sentiment as conditioning information in asset-pricing models helps capture the impacts of the size, value, liquidity and momentum effects on risk-adjusted returns of individual stocks. We use survey sentiment measures and a composite index as proxies for investor sentiment. In our conditional framework, the size effect becomes less important in the conditional CAPM and is no longer significant in all the other models examined. Furthermore, the conditional models often capture the value, liquidity and momentum effects.

Integrating visual and tactile information in the perirhinal cortex

By virtue of its widespread afferent projections, perirhinal cortex is thought to bind polymodal information into abstract object-level representations. Consistent with this proposal, deficits in cross-modal integration have been reported after perirhinal lesions in nonhuman primates. It is therefore surprising that imaging studies of humans have not observed perirhinal activation during visual-tactile object matching. Critically, however, these studies did not differentiate between congruent and incongruent trials. This is important because successful integration can only occur when polymodal information indicates a single object (congruent) rather than different objects (incongruent). We scanned neurologically intact individuals using functional magnetic resonance imaging (fMRI) while they matched shapes. We found higher perirhinal activation bilaterally for cross-modal (visual-tactile) than unimodal (visual-visual or tactile-tactile) matching, but only when visual and tactile attributes were congruent. Our results demonstrate that the human perirhinal cortex is involved in cross-modal, visual-tactile, integration and, thus, indicate a functional homology between human and monkey perirhinal cortices.

The effect of prior visual information on recognition of speech and sounds

To identify and categorize complex stimuli such as familiar objects or speech, the human brain integrates information that is abstracted at multiple levels from its sensory inputs. Using cross-modal priming for spoken words and sounds, this functional magnetic resonance imaging study identified 3 distinct classes of visuoauditory incongruency effects: visuoauditory incongruency effects were selective for 1) spoken words in the left superior temporal sulcus (STS), 2) environmental sounds in the left angular gyrus (AG), and 3) both words and sounds in the lateral and medial prefrontal cortices (IFS/mPFC). From a cognitive perspective, these incongruency effects suggest that prior visual information influences the neural processes underlying speech and sound recognition at multiple levels, with the STS being involved in phonological, AG in semantic, and mPFC/IFS in higher conceptual processing. In terms of neural mechanisms, effective connectivity analyses (dynamic causal modeling) suggest that these incongruency effects may emerge via greater bottom-up effects from early auditory regions to intermediate multisensory integration areas (i.e., STS and AG). This is consistent with a predictive coding perspective on hierarchical Bayesian inference in the cortex where the domain of the prediction error (phonological vs. semantic) determines its regional expression (middle temporal gyrus/STS vs. AG/intraparietal sulcus).

Reducing building information fragmentation : a BIM-specifications approach

The world of Construction is changing, so too are the expectations of stakeholders regarding strategies for adapting existing resources (people, equipment and finances), processes and tools to the evolving needs of the industry. Building Information Modelling (BIM) is a data-rich, digital approach for representing building information required for design and construction. BIM tools play a crucial role and are instrumental to current approaches, by industry stakeholders, aimed at harnessing the power of a single information repository for improved project delivery and maintenance. Yet, building specifications - which document information on material quality, and workmanship requirements - remain distinctly separate from model information typically represented in BIM models. BIM adoption for building design, construction and maintenance is an industry-wide strategy aimed at addressing such concerns about information fragmentation. However, to effectively reduce inefficiencies due to fragmentation, BIM models require crucial building information contained in specifications. This paper profiles some specification tools which have been used in industry as a means of bridging the BIM-Specifications divide. We analyse the distinction between current attempts at integrating BIM and specifications and our approach which utilizes rich specification information embedded within objects in a product library as a method for improving the quality of information contained in BIM objects at various levels of model development.

A simulation modeling approach to understanding information technology value cocreation

The business value of information technology (IT) is increasingly being cocreated by multiple parties, opening opportunities for new research initiatives. Previous studies on IT value cocreation mainly focus on analyzing sources of cocreated IT value, yet inadequately accommodating the influence of competition relationships in IT value cocreation activities. To fill the gap, this in-progress paper suggests an agent-based modeling (also simulation) approach to investigating potential influences of the dynamic interplay between cooperation and competition relationships in IT value cocreation settings. In particular, the research proposes a high-level conceptual framework to position general IT value cocreation processes. A relational network view is offered, aiming at decomposing and systemizing several typical cooperation and competition scenarios in practical IT value cocreation settings. The application of a simulation approach to analytical insights and to theory building is illustrated.

Towards a multiple-goal pursuit and multilevel view of continuing information technology usage : a process model integration and a research agenda

The value of information technology (IT) is often realized when continuously being used after users’ initial acceptance. However, previous research on continuing IT usage is limited for dismissing the importance of mental goals in directing users’ behaviors and for inadequately accommodating the group context of users. This in-progress paper offers a synthesis of several literature to conceptualize continuing IT usage as multilevel constructs and to view IT usage behavior as directed and energized by a set of mental goals. Drawing from the self-regulation theory in the social psychology, this paper proposes a process model, positioning continuing IT usage as multiple-goal pursuit. An agent-based modeling approach is suggested to further explore causal and analytical implications of the proposed process model.

Lower partial moment and information entropy-based dynamic electricity purchasing strategy

In the electricity market environment, load-serving entities (LSEs) will inevitably face risks in purchasing electricity because there are a plethora of uncertainties involved. To maximize profits and minimize risks, LSEs need to develop an optimal strategy to reasonably allocate the purchased electricity amount in different electricity markets such as the spot market, bilateral contract market, and options market. Because risks originate from uncertainties, an approach is presented to address the risk evaluation problem by the combined use of the lower partial moment and information entropy (LPME). The lower partial moment is used to measure the amount and probability of the loss, whereas the information entropy is used to represent the uncertainty of the loss. Electricity purchasing is a repeated procedure; therefore, the model presented represents a dynamic strategy. Under the chance-constrained programming framework, the developed optimization model minimizes the risk of the electricity purchasing portfolio in different markets because the actual profit of the LSE concerned is not less than the specified target under a required confidence level. Then, the particle swarm optimization (PSO) algorithm is employed to solve the optimization model. Finally, a sample example is used to illustrate the basic features of the developed model and method.

Food safety strategy template : supporting information

A strategy sets out the actions an organisation intends to take to achieve a particular goal, such as improved food safety practices. The development of a strategy allows the organisation to review and improve their existing operations, identify and implement new strategies, prioritise actions and strategically allocate resources to maximise efficiency and effectiveness. Implementing a holistic food safety strategy will help local governments continually improve their performance in this area. To support local governments develop a holistic food safety strategy a customisable template has been developed as part of the research project ‘Food Safety: Maximising Impact by Understanding the Food Business Context’ (more information about the research project is available online at www.acelg.org.au/foodsafety).

Information Experience : Approaches to Theory and Practice

"The German word for experience - Erlebnis - the experience of the life, to live through something - underpins this book: making visible scholarly opportunities for richer and deeper contextualizations and examinations of the lived-world experiences of people in everyday contexts as they be, do and become." (Ross Todd, Preface). Information experience is a burgeoning area of research and still unfolding as an explicit research and practice theme. This book is therefore very timely as it distils the reflections of researchers and practitioners from various disciplines, with interests ranging across information, knowledge, user experience, design and education. They cast a fresh analytical eye on information experience, whilst approaching the idea from diverse perspectives. Information Experience brings together current thinking about the idea of information experience to help form discourse around it and establish a conceptual foundation for taking the idea forward. It therefore "provides a number of theoretical lenses for examining people's information worlds in more holistic and dynamic ways." (Todd, Preface)

Innovation in the Australian Spatial Information Industry

Business literature reveals the importance of generating innovative products and services, but much of the innovation research has been conducted in large firms and not replicated in small firms. These firms are likely to have different perspectives on innovation, which means that they will probably behave differently to large firms. Our study aims to unpack how firms in Spatial Information perceive and engage in innovation as a part of their business operation. To investigate these questions we conduct 20 in depth interviews of top management team members in Spatial Information firms in Australia. We find that small firms define innovation very broadly and measure innovation by its effect on productivity or market success. Innovation is seen as crucial to survival and success in a competitive environment. Most firms engage in product and/or service innovations, while some also mentioned marketing, process and organisational innovations. Most innovations were more exploitative rather than exploratory with only a few being radical innovations. Innovation barriers include time and money constraints, corporate culture and Government tendering practices. Our study sheds a light on our understanding of innovation in an under-researched sector; that is spatial information industry.

Using enterprise information architecture methods to model wicked problems in information systems design research

Design Science is the process of solving ‘wicked problems’ through designing, developing, instantiating, and evaluating novel solutions (Hevner, March, Park and Ram, 2004). Wicked problems are described as agent finitude in combination with problem complexity and normative constraint (Farrell and Hooker, 2013). In Information Systems Design Science, determining that problems are ‘wicked’ differentiates Design Science research from Solutions Engineering (Winter, 2008) and is a necessary part of proving the relevance to Information Systems Design Science research (Hevner, 2007; Iivari, 2007). Problem complexity is characterised as many problem components with nested, dependent and co-dependent relationships interacting through multiple feedback and feed-forward loops. Farrell and Hooker (2013) specifically state for wicked problems “it will often be impossible to disentangle the consequences of specific actions from those of other co-occurring interactions”. This paper discusses the application of an Enterprise Information Architecture modelling technique to disentangle the wicked problem complexity for one case. It proposes that such a modelling technique can be applied to other wicked problems and can lay the foundations for proving relevancy to DSR, provide solution pathways for artefact development, and aid to substantiate those elements required to produce Design Theory.

Understanding the information literacy experiences of EFL (English as a Foreign Language) students

Purpose – This paper outlines research that explores the information literacy experiences of EFL (English as a Foreign Language) students. The question explored in this research was: how do EFL students experience information literacy. Design/Methodology/Approach – This study used phenomenography, a relational approach to explore the information literacy experiences of EFL students. Phenomenography studies the qualitatively different ways a phenomenon is experienced in the world around us. Findings – This research revealed that EFL students experienced information literacy in four qualitatively different ways. The four categories revealed through the data were: process, quality, language and knowledge. This research found that language impacted on EFL students’ experiences of information literacy and revealed that EFL students applied various techniques and strategies when they read, understood, organised and translated information. Research limitations/implications – This research was conducted in a specific cultural and educational context, therefore the results might not reflect the experiences of EFL students in other cultural or educational contexts. Practical implications – The findings from this research offer an important contribution to information literacy practice by providing important insights about EFL students’ experiences and perceptions of information and learning that can be used to inform curriculum development in second language learning contexts. Originality/Value - There is currently a lack of research using a relational approach to investigate EFL students’ experiences of information literacy. There is also limited research that explores the impact language has on information literary and learning in English as a foreign or second language contexts.

Information Experience : New Perspectives and Research Directions

In this closing chapter the editors review key themes that have emerged through the book. We recognize the varied and dynamic nature of information experience across multiple contexts, and present our own conceptualization of information experience. Finally, we consider possible future directions for information experience research.

Effective routing with utilisation of cross-layer information for industrial wireless sensor networks

This thesis focuses on providing reliable data transmissions in large-scale industrial wireless sensor networks through improving network layer protocols. It addresses three major problems: scalability, dynamic industrial environments and coexistence of multiple types of data traffic in a network. Theoretical developments are conducted, followed by simulation studies for verification of theoretic results. The approach proposed in this thesis has been shown to be effective for large-scale network implementation and to provide improved data transmission reliability for both periodic and sporadic traffic.

Who are Australia’s information educators?

In recent years there has been considerable discussion afforded to the challenges facing the future of information education in Australia. This paper reports a study that explored the characteristics and experiences of Australia’s information educators. The study was undertaken as part of a larger project, which was designed to establish a consolidated and holistic picture of the Australian information profession, and identify how its future education could be mediated in a cohesive and sustainable manner. Sixty-nine of Australia’s information educators completed an online questionnaire that gathered data on aspects such as age, gender, rank, qualifications, work activities, and job satisfaction. The key findings from this study confirm that a number of pressing issues are confronting information educators in Australia. For example, Australia’s information educators are considerably older than that the total Australian academic workforce; over half the information educators who participated in the study are looking to retire in the next ten years; and, Australia’s information educators spend more time on service activities then other disciplines within Australia’s education system and are place a stronger importance on teaching over research. Left unaddressed these issues will have significant implications for the future of information education as well as the broader information profession. Many of the key observations drawn from this study may also have relevance to other disciplines in the Australian educational context.