Convergence in European corporate governance : the audit committee concept

This paper analyses recent corporate governance codes issued by 20 countries for evidence of convergence in corporate governance systems in Europe. The analysis shows that there has been a degree of convergence towards an Anglo-Saxon model of corporate governance as the audit committee concept is widely accepted in countries with both unitary and two-tier governance systems. Further, the latest audit committee recommendations in countries that have issued several governance codes show a strengthening of the recommendations for an audit committee over time in line with the Anglo-Saxon audit committee concept and convergence with the debate in the US and UK on issues such as the independence and financial expertise of members. However, consistent with the literature on the convergence of European corporate governance systems, at an operational level there is limited consistency in the recommended structure and role of audit committees.

Using digital projection to evoke aesthetic ideas in performance

This practice-led research project investigated the use of digital projection as a compositional tool in live performance. The project was carried out through the creation of a new Australian theatre work called Genesis that poetically integrated digital projection and live performance. The investigation produced a framework for creating powerful theatrical sequences where the themes and ideas of the show were embedded inside particular performance gestures prompting an expanded aesthetic perception of the content.

Investigation on characteristics and performance of recycled concrete aggregates as granular materials for unbound pavements

This research was a step forward in investigating the characteristics of recycled concrete aggregates to use as an unbound pavement material. The results present the guidelines for successfully application of recycled concrete aggregates in high traffic volume roads. Outcomes of the research create more economical and environmental benefits through reducing the depletion of natural resources and effectively manage the generated concrete waste before disposal as land fill.

Audit reports in Australia : 2005-2013: Preliminary Findings

This paper provides a preliminary summary of audit reports for Australian listed public companies for the period 2005 to 2013, focusing on auditor reporting in the most recent period 2011 to 2013. Prior research has shown that audit reports modified for uncertainty relating to the going concern assumption increased following the shock of the Global Financial Crisis (GFC) in late 2007. This occurred in Australia from 2008 where Xu et al. (2011) find that reports modified for going concern uncertainty increase from 12% in 2005 to 2007 to 18% in 2008 and 22% in 2009. Similar trends are observable for the United States as shown by an increase from 14% in 2003 to 21% in 2008 (Cheffers et al. 2010, Geiger et al. 2014). The aim of this report is to examine the frequency of the various types of audit reports issued in Australia during the period 2011 to 2013, with a focus on reports emphasizing significant uncertainty in regard to the going concern assumption.

The defence of hardship to specific performance actions

The decision of Evans v Robcorp Pty Ltd[2014] QSC 26 is of interest as being an instance where the defence of hardship, in this case, financial hardship, was successfully pleaded in defence to a summary application for specific performance of a contract for the sale of land. Equity has always recognised the defence of hardship in response to an action for specific performance which, as an equitable remedy, might be refused in the discretion of the Court (Hewett v Court (1983) 149 CLR 639 at 664). However, whilst the remedy is discretionary, there are certain accepted principles which have guided the courts in their application of this defence to particular facts. It is not a blanket defence to a claim for specific performance where the buyer simply does not have the funds to complete the contract at the time when settlement is called for. Occasionally, a radical change in, say for instance, the health of the defendant between contract and completion, perhaps coupled with a long delay by a seller in calling for completion not being the fault of the buyer might enliven the defence (Patel v Ali [1984]1 Ch 283)

Modelling and performance of an active heave compensator for offshore operations

The development of offshore oil and gas fields require the placement of different equipment on the sea floor. This is done by deploying the equipment from vessels operating in dynamic positioning on the surface. The deployment operation has different phases, and in higher sea states, it may require wave-load synchronization, when the load is going through the splash zone, and heave compensation when the load is close to the sea floor. In this paper, we analyse the performance of a particular type of hardware operating in a heave compensation mode. We derive a comprehensive model, analyse limits of performance and evaluate a control strategy.

The impact of Cool Roof applications on energy performance : results from Australian sub-tropical and tropical field studies

Cool roof coatings are identified by their solar reflectance index. They have been reported to have multiple benefits, the extent of which are strongly dependent on the peculiarities of the local climate, building stock and electricity network. This paper presents measured and simulated data from residential, educational and commercial buildings involved in recent field trials in Australia. The purpose of the field trials was to evaluate the impact of such coatings on electricity demand and load and to assess their potential application to improve comfort whilst avoiding the need for air conditioners. Measured reductions in temperature, power (kW) and energy (kWh) were used to develop a predictive model that correlates ambient temperature distribution profiles, building demand reduction profiles and electricity network peak demand times. Combined with simulated data, the study indicates the types of buildings that could be targeted in Demand Management programs for the mutual benefit of electricity networks and building occupants.

Functional magnetic resonance brain imaging of executive cognitive performance in young first-episode schizophrenia patients and age-matched long-term cannabis users

Converging evidence from epidemiological, clinical and neuropsychological research suggests a link between cannabis use and increased risk of psychosis. Long-term cannabis use has also been related to deficit-like “negative” symptoms and cognitive impairment that resemble some of the clinical and cognitive features of schizophrenia. The current functional brain imaging study investigated the impact of a history of heavy cannabis use on impaired executive function in first-episode schizophrenia patients. Whilst performing the Tower of London task in a magnetic resonance imaging scanner, event-related blood oxygenation level-dependent (BOLD) brain activation was compared between four age and gender-matched groups: 12 first-episode schizophrenia patients; 17 long-term cannabis users; seven cannabis using first-episode schizophrenia patients; and 17 healthy control subjects. BOLD activation was assessed as a function of increasing task difficulty within and between groups as well as the main effects of cannabis use and the diagnosis of schizophrenia. Cannabis users and non-drug using first-episode schizophrenia patients exhibited equivalently reduced dorsolateral prefrontal activation in response to task difficulty. A trend towards additional prefrontal and left superior parietal cortical activation deficits was observed in cannabis-using first-episode schizophrenia patients while a history of cannabis use accounted for increased activation in the visual cortex. Cannabis users and schizophrenia patients fail to adequately activate the dorsolateral prefrontal cortex, thus pointing to a common working memory impairment which is particularly evident in cannabis-using first-episode schizophrenia patients. A history of heavy cannabis use, on the other hand, accounted for increased primary visual processing, suggesting compensatory imagery processing of the task.

Automated power semiconductor switching performance feature extraction from experimental double-pulse waveform data

Double-pulse tests are commonly used as a method for assessing the switching performance of power semiconductor switches in a clamped inductive switching application. Data generated from these tests are typically in the form of sampled waveform data captured using an oscilloscope. In cases where it is of interest to explore a multi-dimensional parameter space and corresponding result space it is necessary to reduce the data into key performance metrics via feature extraction. This paper presents techniques for the extraction of switching performance metrics from sampled double-pulse waveform data. The reported techniques are applied to experimental data from characterisation of a cascode gate drive circuit applied to power MOSFETs.

The stewardship performance of forms of privatised water infrastructure

In this research Agency Theory and Stewardship Theory are used to analyse the relative performance of different forms of privitisation of water infrastructure and in doing so enriches understanding of previously underdeveloped aspects of both theories. The prior Agency Theory literature had established assumptions about the behaviour of principals and agents in contracts and these were found not to be correct in the context of contracts between modern government and private organisations. Agency theory was extended to include steward-like behaviour of an agent and Stewardship Theory was developed by the identification of factors within the contractual relationship which promote the sense of responsibility to the principal. The alliance, joint venture and Build Own Operate Transfer (BOOT) forms of privatisation were found to achieve stewardship of the infrastructure.

The monadic environment : evoking emotion and memory in participatory performance

This practice-led research project examined the audience experience of immersive environments in participatory performance. Drawing upon the work of artist Ilya Kabakov, Gaston Bachelard's Poetics of Space (1964) and Leibniz's theory of the monad, the study investigated how an immersive space can be constructed to evoke emotion and memory recall in participants. The research consisted of two cycles of creative experimentation resulting in the presentation of a final piece entitled Dulcet. The research contributes new terminology to the discourse surrounding the participant experience in immersive environments, specifically space-as-memory, the role of ambiguity in spatial design and the construct of the monadic environment.

Performance profiling for predictive train schedules

In this article an alternate sensitivity analysis is proposed for train schedules. It characterises the schedules robustness or lack thereof and provides unique profiles of performance for different sources of delay and for different values of delay. An approach like this is necessary because train schedules are only a prediction of what will actually happen. They can perform poorly with respect to a variety of performance metrics, when deviations and other delays occur, if for instance they can even be implemented, and as originally intended. The information provided by this analytical approach is beneficial because it can be used as part of a proactive scheduling approach to alter a schedule in advance or to identify suitable courses of action for specific “bad behaviour”. Furthermore this information may be used to quantify the cost of delay. The effect of sectional running time (SRT) deviations and additional dwell time in particular were quantified for three railway schedule performance measures. The key features of this approach were demonstrated in a case study.

High performance all-carbon thin film supercapacitors

We fabricated high performance supercapacitors by using all carbon electrodes, with volume energy in the order of 10−3 Whcm−3, comparable to Li-ion batteries, and power densities in the range of 10 Wcm−3, better than laser-scribed-graphene supercapacitors. All-carbon supercapacitor electrodes are made by solution processing and filtering electrochemically-exfoliated graphene sheets mixed with clusters of spontaneously entangled multiwall carbon nanotubes. We maximize the capacitance by using a 1:1 weight ratio of graphene to multi-wall carbon nanotubes and by controlling their packing in the electrode film so as to maximize accessible surface and further enhance the charge collection. This electrode is transferred onto a plastic-paper-supported double-wall carbon nanotube film used as current collector. These all-carbon thin films are combined with plastic paper and gelled electrolyte to produce solid-state bendable thin film supercapacitors. We assembled supercapacitor cells in series in a planar configuration to increase the operating voltage and find that the shape of our supercapacitor film strongly affects its capacitance. An in-line superposition of rectangular sheets is superior to a cross superposition in maintaining high capacitance when subject to fast charge/discharge cycles. The effect is explained by addressing the mechanism of ion diffusion into stacked graphene sheets.

Effect of rod-cone interactions on mesopic visual performance mediated by chromatic and luminance pathways

We studied the effect of rod–cone interactions on mesopic visual reaction time (RT). Rod and cone photoreceptor excitations were independently controlled using a four-primary photostimulator. It was observed that (1) lateral rod–cone interactions increase the cone-mediated RTs; (2) the rod–cone interactions are strongest when rod sensitivity is maximal in a dark surround, but weaker with increased rod activity in a light surround; and (3) the presence of a dark surround nonselectively increased the mean and variability of chromatic (+L-M, S-cone) and luminance (L+M+S) RTs independent of the level of rod activity. The results demonstrate that lateral rod–cone interactions must be considered when deriving mesopic luminous efficiency using RT.