An analysis of the timeliness and nature of profit warnings in the aftermath of the Global Financial Crisis

The global financial crisis (GFC) has severely impacted the financial position and performance of many companies internationally. Because of its severity and associated increase in uncertainty it challenges the effectiveness of existing disclosure regulation. Australia provides a unique environment in which to test the effects of the GFC on corporate disclosure because statutory rules mandate the timely disclosure of ‘price-sensitive’ information (ASX Rule 3.1) by listed entities. Exploiting this institutional setting we investigate the determinants and timeliness of profit warnings issued by the top 500 ASX-listed firms with profit declines in the 2009 fiscal year. Our findings show that firms behave differently with regard to the issuance of profit warnings: larger and more indebted firms are more likely to issue a profit warning and tend to be timelier; surprisingly, poorer performing firms tend to release the news more quickly and this might be attributed to an increasing threat of litigation. Our analysis of profit warning determinants shows interesting results with the presence of asset impairments hindering the early disclosure of profit warnings. Our findings are novel for two main reasons: first, we provide insights into the impact of global financial crisis on profit warning behaviour; second, we are the first to examine the differential impact of alternative features of profit warnings on disclosure timeliness. The findings have implications for regulators in determining compliance with continuous disclosure rules and more broadly, for market participants in interpreting profit warnings.

Cuba’s internationalism : participant narratives and the role of Cuban universities in supporting educational aid

In this paper, I discuss Cuba’s educational aid to partner countries of the Global South. The paper draws on narratives of participant experiences to show how this aid is implemented, and following this, analyses what these narratives imply about Cuba’s philosophy of internationalist solidarity, and its organisation of aid. On one hand, accounts from Cuban educators give insight into the challenges of teaching overseas. On the other hand, accounts of professionals from developing countries in the Global South allow us to reflect on the lasting impact on their careers and mindsets of having studied in Cuban universities on scholarships from Cuba. I discuss how these narratives reveal the underlying role of the socially responsible university in Cuba, pointing to how universities support Cuban internationalism in its contribution to key development goals.

Health states for schizophrenia and bipolar disorder within the Global Burden of Disease 2010 Study

A comprehensive revision of the Global Burden of Disease (GBD) study is expected to be completed in 2012. This study utilizes a broad range of improved methods for assessing burden, including closer attention to empirically derived estimates of disability. The aim of this paper is to describe how GBD health states were derived for schizophrenia and bipolar disorder. These will be used in deriving health state-specific disability estimates. A literature review was first conducted to settle on a parsimonious set of health states for schizophrenia and bipolar disorder. A second review was conducted to investigate the proportion of schizophrenia and bipolar disorder cases experiencing these health states. These were pooled using a quality-effects model to estimate the overall proportion of cases in each state. The two schizophrenia health states were acute (predominantly positive symptoms) and residual (predominantly negative symptoms). The three bipolar disorder health states were depressive, manic, and residual. Based on estimates from six studies, 63% (38%-82%) of schizophrenia cases were in an acute state and 37% (18%-62%) were in a residual state. Another six studies were identified from which 23% (10%-39%) of bipolar disorder cases were in a manic state, 27% (11%-47%) were in a depressive state, and 50% (30%-70%) were in a residual state. This literature review revealed salient gaps in the literature that need to be addressed in future research. The pooled estimates are indicative only and more data are required to generate more definitive estimates. That said, rather than deriving burden estimates that fail to capture the changes in disability within schizophrenia and bipolar disorder, the derived proportions and their wide uncertainty intervals will be used in deriving disability estimates.

Health consequences of exposure to e-waste : a systematic review

Background The population exposed to potentially hazardous substances through inappropriate and unsafe management practices related to disposal and recycling of end-of-life electrical and electronic equipment, collectively known as e-waste, is increasing. We aimed to summarise the evidence for the association between such exposures and adverse health outcomes. Methods We systematically searched five electronic databases (PubMed, Embase, Web of Science, PsycNET, and CINAHL) for studies assessing the association between exposure to e-waste and outcomes related to mental health and neurodevelopment, physical health, education, and violence and criminal behaviour, from Jan 1, 1965, to Dec 17, 2012, and yielded 2274 records. Of the 165 full-text articles assessed for eligibility, we excluded a further 142, resulting in the inclusion of 23 published epidemiological studies that met the predetermined criteria. All studies were from southeast China. We assessed evidence of a causal association between exposure to e-waste and health outcomes within the Bradford Hill framework. Findings We recorded plausible outcomes associated with exposure to e-waste including change in thyroid function, changes in cellular expression and function, adverse neonatal outcomes, changes in temperament and behaviour, and decreased lung function. Boys aged 8–9 years living in an e-waste recycling town had a lower forced vital capacity than did those living in a control town. Significant negative correlations between blood chromium concentrations and forced vital capacity in children aged 11 and 13 years were also reported. Findings from most studies showed increases in spontaneous abortions, stillbirths, and premature births, and reduced birthweights and birth lengths associated with exposure to e-waste. People living in e-waste recycling towns or working in e-waste recycling had evidence of greater DNA damage than did those living in control towns. Studies of the effects of exposure to e-waste on thyroid function were not consistent. One study related exposure to e-waste and waste electrical and electronic equipment to educational outcomes. Interpretation Although data suggest that exposure to e-waste is harmful to health, more well designed epidemiological investigations in vulnerable populations, especially pregnant women and children, are needed to confirm these associations. Funding Children's Health and Environment Program, Queensland Children's Medical Research Institute, The University of Queensland, Australia.

Literacy, place, and pedagogies of possibility: Working against residualization effects and deficit discourses in poor school communities

Australia has a long history of policy attention to the education of poor and working-class youth (Connell, 1994), yet currently on standardized educational outcomes measures the gaps are widening in ways that relate to social background, including race, location and class. An economic analysis of school choice in Australia reveals that a high proportion of government school students now come from lower Socio-Economic Status (SES) backgrounds (Ryan & Watson, 2004), indicating a trend towards a gradual residualisation of the poor in government schools, with increased private school enrolments as a confirmed national trend. The spatial distribution of poverty and the effects on school populations are not unique to Australia (Lupton, 2003; Lipman, 2011; Ryan, 2010). Raffo and colleagues (2010) recently provided a synthesis of socially critical approaches towards schooling and poverty arguing that what is needed are shifts in the balances of power to reposition those within the educational system as having some say in the ways schooling is organized. ‘Disadvantaged’ primary schools are not a marginal concern for education systems, but now account for a large and growing number of schools that serve an ever increasing population being made redundant, in part-time precarious work, under-employed or unemployed (Thomson 2002; Smyth, Down et al 2010). In Australia, the notion of the ‘disadvantaged’ school now refers to those, mostly public schools, being residualised by a politics of parental choice that drives neoliberalising policy logic (Bonner & Caro 2007; Hattam & Comber, forthcoming 2014; Thomson & Reid, 2003)...

A comparative risk assessment of burden of disease and injury attributable to 67 risk factors and risk factor clusters in 21 regions, 1990–2010: A systematic analysis for the Global Burden of Disease Study 2010

BACKGROUND Quantification of the disease burden caused by different risks informs prevention by providing an account of health loss different to that provided by a disease-by-disease analysis. No complete revision of global disease burden caused by risk factors has been done since a comparative risk assessment in 2000, and no previous analysis has assessed changes in burden attributable to risk factors over time. METHODS We estimated deaths and disability-adjusted life years (DALYs; sum of years lived with disability [YLD] and years of life lost [YLL]) attributable to the independent effects of 67 risk factors and clusters of risk factors for 21 regions in 1990 and 2010. We estimated exposure distributions for each year, region, sex, and age group, and relative risks per unit of exposure by systematically reviewing and synthesising published and unpublished data. We used these estimates, together with estimates of cause-specific deaths and DALYs from the Global Burden of Disease Study 2010, to calculate the burden attributable to each risk factor exposure compared with the theoretical-minimum-risk exposure. We incorporated uncertainty in disease burden, relative risks, and exposures into our estimates of attributable burden. FINDINGS In 2010, the three leading risk factors for global disease burden were high blood pressure (7·0% [95% uncertainty interval 6·2-7·7] of global DALYs), tobacco smoking including second-hand smoke (6·3% [5·5-7·0]), and alcohol use (5·5% [5·0-5·9]). In 1990, the leading risks were childhood underweight (7·9% [6·8-9·4]), household air pollution from solid fuels (HAP; 7·0% [5·6-8·3]), and tobacco smoking including second-hand smoke (6·1% [5·4-6·8]). Dietary risk factors and physical inactivity collectively accounted for 10·0% (95% UI 9·2-10·8) of global DALYs in 2010, with the most prominent dietary risks being diets low in fruits and those high in sodium. Several risks that primarily affect childhood communicable diseases, including unimproved water and sanitation and childhood micronutrient deficiencies, fell in rank between 1990 and 2010, with unimproved water and sanitation accounting for 0·9% (0·4-1·6) of global DALYs in 2010. However, in most of sub-Saharan Africa childhood underweight, HAP, and non-exclusive and discontinued breastfeeding were the leading risks in 2010, while HAP was the leading risk in south Asia. The leading risk factor in Eastern Europe, most of Latin America, and southern sub-Saharan Africa in 2010 was alcohol use; in most of Asia, North Africa and Middle East, and central Europe it was high blood pressure. Despite declines, tobacco smoking including second-hand smoke remained the leading risk in high-income north America and western Europe. High body-mass index has increased globally and it is the leading risk in Australasia and southern Latin America, and also ranks high in other high-income regions, North Africa and Middle East, and Oceania. INTERPRETATION Worldwide, the contribution of different risk factors to disease burden has changed substantially, with a shift away from risks for communicable diseases in children towards those for non-communicable diseases in adults. These changes are related to the ageing population, decreased mortality among children younger than 5 years, changes in cause-of-death composition, and changes in risk factor exposures. New evidence has led to changes in the magnitude of key risks including unimproved water and sanitation, vitamin A and zinc deficiencies, and ambient particulate matter pollution. The extent to which the epidemiological shift has occurred and what the leading risks currently are varies greatly across regions. In much of sub-Saharan Africa, the leading risks are still those associated with poverty and those that affect children.

Indoor air: Contemporary sources, exposures and global implications

Recent 'Global Burden of Disease' studies have provided quantitative evidence of the significant role air pollution plays as a human health risk factor (Lim et al., The Lancet, 380: 2224–2260, 2012). Tobacco smoke, including second hand smoke, household air pollution from solid fuels and ambient particulate matter are among the top risks, leading to lower life expectancy around the world. Indoor air constitutes an environment particularly rich in different types of pollutants, originating from indoor sources, as well as penetrating from outdoors, mixing, interacting or growing (when considering microbes) under the protective enclosure of the building envelope. Therefore, it is not a simple task to follow the dynamics of the processes occurring there, or to quantify the outcomes of the processes in terms of pollutant concentrations and other characteristics. This is further complicated by limitations such as building access for the purpose of air quality monitoring, or the instrumentation which can be used indoors, because of their possible interference with the occupants comfort (due to their large size, noise generated or amount of air drawn). European studies apportioned contributions of indoor versus outdoor sources of indoor air contaminants in 26 European countries and quantified IAQ associated DALYs (Disability-Adjusted Life Years) in those countries (Jantunen et al., Promoting actions for healthy indoor air (IAIAQ), European Commission Directorate General for Health and Consumers, Luxembourg, 2011). At the same time, there has been an increase in research efforts around the world to better understand the sources, composition, dynamics and impacts of indoor air pollution. Particular focus has been directed towards the contemporary sources, novel pollutants and new detection methods. The importance of exposure assessment and personal exposure, the majority of which occurs in various indoor micro¬environments, has also been realized. Overall, this emerging knowledge has been providing input for global assessments of indoor environments, the impact of indoor pollutants and their science based management and control. It was a major outcome of recent international conferences that interdisciplinarity and especially a better colla¬boration between exposure and indoor sciences would be of high benefit for the health related evaluation of environmental stress factors and pollutants. A very good example is the combination of biomonitoring and indoor air, particle and dust analysis to study the exposure routes of semi volatile organic compounds (SVOCs). We have adopted the idea of combining the forces of exposure and indoor sciences for this Special Issue, identified new and challenging topics and have attracted colleagues who are top researchers in their field to provide their inputs. The Special Issue includes papers, which collectively present advances in current research topics and in our view, build the bridge between indoor and exposure sciences.

National testing from an Australian perspective

Introduction This book examines a pressing educational issue: the global phenomenon of national testing in schooling and its vernacular development in Australia. The Australian National Assessment Program – Literacy and Numeracy (NAPLAN), introduced in 2008, involves annual census testing of students in Years 3, 5, 7 and 9 in nearly all Australian schools. In a variety of ways, NAPLAN affects the lives of Australia’s 3.5 million school students and their families, as well as more than 350,000 school staff and many other stakeholders in education. This book is organised in relation to a simple question: What are the effects of national testing for systems, schools and individuals? Of course, this simple question requires complex answers. The chapters in this edited collection consider issues relating to national testing policy, the construction of the test, usages of the testing data and various effects of testing in systems, schools and classrooms. Each chapter examines an aspect of national testing in Australia using evidence drawn from research. The final chapter by the editors of this collection provides a broader reflection on this phenomenon and situates developments in testing globally...

Becoming-topologies of education: Deformations, networks and the database effect

This article uses topological approaches to suggest that education is becoming-topological. Analyses presented in a recent double-issue of Theory, Culture & Society are used to demonstrate the utility of topology for education. In particular, the article explains education's topological character through examining the global convergence of education policy, testing and the discursive ranking of systems, schools and individuals in the promise of reforming education through the proliferation of regimes of testing at local and global levels that constitute a new form of governance through data. In this conceptualisation of global education policy changes in the form and nature of testing combine with it the emergence of global policy network to change the nature of the local (national, regional, school and classroom) forces that operate through the ‘system’. While these forces change, they work through a discursivity that produces disciplinary effects, but in a different way. This new–old disciplinarity, or ‘database effect’, is here represented through a topological approach because of its utility for conceiving education in an increasingly networked world.

NAPLAN, MySchool and accountability: Teacher perceptions of the effects of testing

This paper explores Rizvi and Lingard’s (2010) idea of the “local vernacular” of the global education policy trend of using high-stakes testing to increase accountability and transparency, and by extension quality, within schools and education systems in Australia. In the first part of the paper a brief context of the policy trajectory of National Assessment Program – Literacy and Numeracy (NAPLAN) is given in Australia. In the second part, empirical evidence drawn from a survey of teachers in Western Australia (WA) and South Australia (SA) is used to explore teacher perceptions of the impacts a high-stakes testing regime is having on student learning, relationships with parents and pedagogy in specific sites. After the 2007 Australian Federal election, one of Labor’s policy objectives was to deliver an “Education Revolution” designed to improve both the equity and excellence in the Australian school system1 (Rudd & Gillard, 2008). This reform agenda aims to “deliver real changes” through: “raising the quality of teaching in our schools” and “improving transparency and accountability of schools and school systems” (Rudd & Gillard, 2008, p. 5). Central to this linking of accountability, the transparency of schools and school systems and raising teaching quality was the creation of a regime of testing (NAPLAN) that would generate data about the attainment of basic literacy and numeracy skills by students in Australian schools.

A preliminary analysis of teacher perceptions of the effects of NAPLAN on pedagogy and curriculum

This paper reports preliminary survey findings of Western Australian and South Australian teacher perceptions of the impact of NAPLAN on curriculum and pedagogy in their classroom and school. The paper examines how teachers perceive the effects of NAPLAN on curriculum and pedagogy and whether these perceptions mediated by the teacher’s gender, the socioeconomics of the school, the State and the school system in which the teacher works. Teachers report that they are either choosing or being instructed to teach to the test, that this results in less time being spent on other curriculum areas and that these effects contribute in a negative way to the class environment and the engagement of students. This largely agrees with a body of international research that suggests that high-stakes literacy and numeracy tests often results in unintended consequences such as a narrow curriculum focus, a return to teacher-centred instruction and a decrease in motivation. Analysis suggests there is a relationship between participant responses to the effect of NAPLAN on curriculum based on the characteristics of which State the teacher taught in, the socioeconomic status of the school and the school system in which they were employed (State, Catholic, and Independent).

The effects of NAPLAN: Teacher perceptions of the impact of NAPLAN on pedagogy and curriculum

This paper reports preliminary findings of a survey of in-service teachers in WA and SA conducted in 2012. Participants completed an online survey open to all teachers in WA and SA. The survey ran for three months from April to June 2012. One section of the survey asked teachers to report their perceptions of the impact that NAPLAN has had on the curriculum and pedagogy of their classroom and school. Two principal research questions were addressed in this preliminary analysis. First what are teacher perceptions of the effects on NAPLAN on curriculum and pedagogy? Second, are there any interaction effects between gender, socioeconomics status, location and school system on teachers perceptions? Statistical analyses examined one- and two-way MANOVA to assess main effects and interaction effects on teachers' global perceptions. These were followed by a series of exploratory one- and two-way ANOVA of specific survey items to suggest potential sources for differences among teachers from different socioeconomic regions, states and systems. Teachers report that they are either choosing or being instructed to teach to the test, that this results in less time being spent on other curriculum areas and that these effects contribute in a negative way on the engagement of students. This largely agrees with a body of international research that suggests that high-stakes literacy and numeracy tests often results in unintended consequences such as a narrow curriculum focus (Au, 2007), a return to teacher-centred instruction (Barret, 2009) and a decrease in motivation (Ryan & Wesinstein, 2009). Preliminary results from early survey respondents suggests there is a relationship between participant responses to the effect of NAPLAN on curriculum and pedagogy based on the characteristics of which State the teacher taught in, their perceptions of the socioeconomic status of the school and the school system in which they were employed (State, Catholic, and Independent).

Endogenous and exogenous effects in self-exciting process models of terrorist activity

A model based on the cluster process representation of the self-exciting process model in White and Porter 2013 and Ruggeri and Soyer 2008is derived to allow for variation in the excitation effects for terrorist events in a self-exciting or cluster process model. The details of the model derivation and implementation are given and applied to data from the Global Terrorism Database from 2000–2012. Results are discussed in terms of practical interpretation along with implications for a theoretical model paralleling existing criminological theory.

Disorganizing educational tropes: Conceptions of dis/ability and curriculum

A study examined the politics of dis/ability and curriculum. Data were obtained from a review of the new disability studies literature, focusing on the areas of history, sociology, anthropology, and critical legal theory. The results indicate that this new literature challenges popular psychoeducational models that assume disability as an objective medical, individual, and pathological deficiency, effectively restricting the systematic study of dis/ability as relational, external, shifting, and socially constituted. The findings suggest ways in which perceptions of “school problems” have to be adjusted to understand how the constant refiguration of normativities in everyday activities creates perceptions of disability-negative ontologies, generates experiences that incite efforts to modify those perceptions in multiple ways, and produces unintended effects from well-intended approaches that in the end remain irreducible to simplistic definitions for the one “ethical” or “politically correct” strategy.