109 resultados para Mortgage-backed securities


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For industrial wireless sensor networks, maintaining the routing path for a high packet delivery ratio is one of the key objectives in network operations. It is important to both provide the high data delivery rate at the sink node and guarantee a timely delivery of the data packet at the sink node. Most proactive routing protocols for sensor networks are based on simple periodic updates to distribute the routing information. A faulty link causes packet loss and retransmission at the source until periodic route update packets are issued and the link has been identified as broken. We propose a new proactive route maintenance process where periodic update is backed-up with a secondary layer of local updates repeating with shorter periods for timely discovery of broken links. Proposed route maintenance scheme improves reliability of the network by decreasing the packet loss due to delayed identification of broken links. We show by simulation that proposed mechanism behaves better than the existing popular routing protocols (AODV, AOMDV and DSDV) in terms of end-to-end delay, routing overhead, packet reception ratio.

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In recent decades, the governance of food safety, food quality, on-farm environmental management and animal welfare has been shifting from the realm of 'the government' to that of the private sector. Corporate entities, especially the large supermarkets, have responded to neoliberal forms of governance and the resultant 'hollowed-out' state by instituting private standards for food, backed by processes of certification and policed through systems of third party auditing. Today's food regime is one in which supermarkets impose 'private standards' along the food supply chain to ensure compliance with a range of food safety goals-often above and beyond those prescribed by government. By examining regulatory governance in Australia, Norway and the United Kingdom we highlight emerging trajectories of food governance. We argue that the imposition of the new private forms of monitoring and compliance continue the project of agricultural restructuring that began with government support for structural adjustment schemes in agriculture and that these are most evident in the UK and Australia where neoliberalism is an entrenched philosophy. However, despite Norway's identity as a social democracy, we also identify neoliberal 'creep' into the system of food governance. Small-scale producers in all three nations are finding themselves increasingly subject to governance through private, market-based mechanisms that, to varying degrees, are dominated by major supermarket chains. The result is agricultural restructuring not through the traditional avenues of elected governments, but via non-elected market operatives.

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Construction delay has been a protracted problem for the Malaysian construction industry. Recent report showed that 80% of public sector projects are behind schedule. This underachieving time performance has led to many problems including public complaints, loss of reputation and revenue for the government and a slump in the industry’s GDP contribution. Research in the area of project delay has mushroomed worldwide with attempts to place mitigation plans, but delay remains a global phenomenon. There is now an urgent need for revolutionizing construction practices and past research, backed up with few successful cases suggests that Supply Chain Management (SCM) could prove beneficial to reduce or eliminate delays in construction. SCM which originated from the automotive manufacturing industry promotes a more collaborative approach to construction management and has recently gained attention of the construction industry. However every country, including Malaysia, would certainly have disparities of their own compared to others being it from the cultural point of view, nature of problems, locality or improvements needed. Therefore, this paper will present part of a Ph.D. research which aims at illustrating the Malaysian construction industry experts’ perception of the Malaysian public sector project delay, provide insight into these dilemmas, highlights the problems with current practices, its effects and the improvements needed. Subsequently, this paper would propose ratification to the problems using SCM. A semi-structured interview has been conducted to practitioners with at least 20 years’ experience in the industry. The findings showed that Malaysia may be unique compared to other countries and that by considering a number of additional factors, SCM could prove beneficial to increase efficiency of the Malaysian public sector projects.

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In private placement transactions, issuing firms sell a block of securities to just a small group of investors at a discounted price. Non-participating shareholders suffer from ownership dilution and lose the opportunity to receive the discount. This thesis provides the first evidence on whether and how corporate governance can protect non-participating shareholders' interests. Results from an examination of 329 private placements issued by the top 250 Australian firms between 2002 and 2009 demonstrate that firms with higher governance quality are more likely to issue a share purchase plan (SPP) along with the private placement, thus providing greater protection to non-participating shareholders' interests.

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A growing number of online journals and academic platforms are adopting light peer review or 'publish then filter' models of scholarly communication. These approaches have the advantage of enabling instant exchanges of knowledge between academics and are part of a wider search for alternatives to traditional peer review and certification processes in scholarly publishing. However, establishing credibility and identifying the correct balance between communication and scholarly rigour remains an important challenge for digital communication platforms targeting academic communities. This paper looks at a highly influential, government-backed, open publishing platform in China: Science Paper Online, which is using transparent post-publication peer-review processes to encourage innovation and address systemic problems in China's traditional academic publishing system. There can be little doubt that the Chinese academic publishing landscape differs in important ways from counterparts in the United States and Western Europe. However, this article suggests that developments in China also provide important lessons about the potential of digital technology and government policy to facilitate a large-scale shift towards more open and networked models of scholarly communication.

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As we stand at the beginning of the 21st century and behold the world before us, it seems that we are living in a time of profound change. Everywhere we look change seems afoot, demolishing our traditional securities and hastily building new ones in their place. Modern medical science has been an integral part of this change. It is not possible to ignore the advances of modern medicine nor the realities of scientific uncertainties for they are part of the shared context of our lives today. I In the past 50 years we have witnessed the discovery of DNA and more recently the mapping of the human genome, the birth of the world's first in-vitro fertilisation baby, followed by thousands worldwide in the period since, the discovery of human stem cells and the birth of Dolly the cloned sheep in Scotland. Furthermore, the processes of globalisation have ensured that an event that occurs on one side of the globe becomes an item on the evening news on the other side, creating the impression that all change takes place on our doorstep. Some of these events have provoked deep angst in the community, sparking public debate over the ethics of science and the boundaries to be imposed by law. All of these developments have changed the realm of the possible. While these advances in medical science spark debate in the developed countries, in less developed countries high rates of infectious diseases and infant and maternal mortality and the challenges of access to adequate food and clean water are priorities, highlighting international differences in health care. This article explores these differences through an analysis of globalisation and reproduction. It seeks to analyse both the meaning of globalisation and the impact of globalising trends on health laws and policies as regulators of women's health within the global village.

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In September-December 2012, 548 financial planning retail clients and 77 financial advisers responded to online surveys addressing consumer satisfaction with financial planning services and the provision of information concerning regulatory and rights issues. Retail clients commented on areas related to the best interests duty in s 961B of the Corporations Act 2001 (Cth), in particular the extent to which advisers considered their clients’ financial objectives and lifestyle situations, and the client-centredness of the financial advice they received. Retail clients also indicated their level of awareness of their substantive rights in relation to receiving advice, the legal obligations imposed on advisers, and whether they would access internal and external complaints processes if warranted. Advisers reported on the extent to which they provide clients with information relating to their substantive rights, and complaints processes available to them. Responses were analysed in relation to client demographics (e.g., age, gender, education), and experience of financial advice. This article reports on the findings of the surveys and their implications for financial planners.

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This article deals with cases where borrowers of loans for business or investment claimed their lender had engaged in asset lending which amounted to unconscionable conduct under the equitable doctrine or under the Australian Securities and Investments Commission Act 2001 (Cth). The article reviews recent cases, seeking to identify the key factors influencing a conclusion of, or against, unconscionable conduct. The article examines the practice of lending through intermediaries and how the application of agency law can insulate lenders from the wrongful conduct of intermediaries. The article explains the gap in the current position and discusses possible law reform which may remedy that.

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This chapter examines the process of “transformative learning” for the 2008 cohort of the St. Thomas More College–Intercordia Canada (STM/IC) international community service-learning program. My primary data comes from the eight students who were part of that cohort, when I was their program coordinator. That data later became the heart of my Master’s thesis and was approved by the Research Ethics Office of the University of Saskatchewan. In this chapter I focus on three of those eight participants, outlining the critical elements of their experiences that were conducive to their transformative learning. To be sure, my sample size is too small to draw generalizable conclusions, but the quality of information I received from these students and their colleagues, coupled with the follow-up conversations I had with other educators and with the accompanying literature, supports the value of reflecting at length here about these students’ comments. I have chosen to highlight the experiences of these three participants because together they provide a range of experiences that best enables an analysis of the conditions that both did and did not lead to transformative learning. This case study suggests that transformative learning occurs through: the dynamics of vulnerability, a discovery of persisting differences within inter-personal relationships, and an experience of welcome and hospitality in the host environment. In contrast to other studies that focus on the enhanced capacities, skills and subsequent employability of participants through international education, transformative learning for these students required a relinquishing of securities, a disorientation and critical interrogation of the self, and enhanced receptivity to the newly recognized Other. Moreover, consistent with the critical-humanistic educational philosophy shared in different ways by the participants of the STM/IC program, this study suggests that international community service-learning can most responsibly contribute to good global citizenship through the construction of relationships of solidarity across difference.

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Using a sample of companies from the top 500 listed firms in Australia, we investigate whether the presence of a designated nomination committee and female representation on the nomination committee affect board gender diversity. We also examine whether gender diversity on the board affects firm risk and financial performance. We find that board gender diversity is significantly and positively associated with the presence of a designated nomination committee and that female representation on the nomination committee is a significant explanatory factor of increasing board gender diversity following the release of the 2010 Australian Securities Exchange Corporate Governance Council (ASXCGC) recommendations. Further, our results support the business case for board gender diversity as we find greater gender diversity moderates excessive firm risk which in turn improves firms’ financial performance. Our results are robust after correcting for selection bias and controlling for other board, firm and industry characteristics.

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Ever since Cox et. al published their paper, “A Secure, Robust Watermark for Multimedia” in 1996 [6], there has been tremendous progress in multimedia watermarking. The same pattern re-emerged with Agrawal and Kiernan publishing their work “Watermarking Relational Databases” in 2001 [1]. However, little attention has been given to primitive data collections with only a handful works of research known to the authors [11, 10]. This is primarily due to the absence of an attribute that differentiates marked items from unmarked item during insertion and detection process. This paper presents a distribution-independent, watermarking model that is secure against secondary-watermarking in addition to conventional attacks such as data addition, deletion and distortion. The low false positives and high capacity provide additional strength to the scheme. These claims are backed by experimental results provided in the paper.

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Background Advance care planning is regarded as integral to better patient outcomes yet little is known about the prevalence of advance directives in Australia. Aims To determine the prevalence of advance directives (ADs) in the Australian population. Methods A national telephone survey about estate and advance planning. Sample was stratified by age (18-45 and >45 years) and quota sampling occurred based on population size in each State and Territory. Results Fourteen percent of the Australian population has an AD. There is State variation with people from South Australia and Queensland more likely to have an AD than people from other states. Will making and particularly completion of a financial enduring power of attorney are associated with higher rates of AD completion. Standard demographic variables were of limited use in predicting whether a person would have an AD. Conclusions Despite efforts to improve uptake of advance care planning (including ADs), barriers remain. One likely trigger for completing an AD and advance care planning is undertaking a wider future planning process (e.g. making a will or financial enduring power of attorney). This presents opportunities to increase advance care planning but steps are needed to ensure that planning which occurs outside the health system is sufficiently informed and supported by health information so that it is useful in the clinical setting. Variations by State could also suggest that redesign of regulatory frameworks (such as a user-friendly and well publicised form backed by statute) may help improve uptake of ADs.

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Negative board diversity-organizational outcomes research findings have highlighted the importance of studying board demographic faultlines. Based on research gaps, this study focuses on gender diversity, age diversity, board size and faultlines formation in corporate boards. It proposes a positive linear diversity-faultlines relationship based on self-categorization and social identity theories, interaction effects of gender diversity and age diversity on faultlines based on contingency theories, and a U-shaped board size-faultlines strength relationship. The hypotheses were tested in 288 large companies listed on the Australian Securities Exchange using archival data. The results provided partial support for the interaction effects relationships and support to the U-shaped board size-faultlines strength relationship. The findings indicate that boards with low levels of age diversity experience a negative linear relationship between gender diversity and faultlines such that higher representation of women leads to weaker faultlines. The results also suggest that small- and large-sized boards experience stronger faultlines strength than medium-sized board. These results inform practice and underline implications of board demographic diversity and board size.

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In the aftermath of the global financial crisis, effective risk management (RM) and its communication to stakeholders are now considered essential components in corporate governance. However, despite the importance of RM communication, it is still unclear how and to what extent disclosures in financial reports can achieve effective communication of RM activities. The situation is hampered by the paucity of international RM Research that captures institution differences in corporate governance standards. The Australian setting provides an ideal environment in which to examine RM communication because the Australian Securities Exchange (ASX) has since 2007 recommended RM disclosures under its principle-based governance rules. The recommendations are contained in Principle 7 of the Corporate Governance Principles and recommendations (ASX CGPR). Accordingly, to assess the effectiveness of the AXS's RM governance principle, this study examines the nature and extent of RM disclosures reported by major ASX-listed firms. Using a mixed method approach (thematic content analysis and a series of regression analysis) we find widespread divergence in disclosure practices and low conformance with the Principle 7 recommendations. Certain corporate governance mechanisms appear to influence some categories of RM dislcosure but equity risk has surprisingly little explanatory power. These results suggest that the RM disclosures practices observed in the Australian setting may not be meeting the objectives of regulators and the needs of stakeholders.

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Transfer schemes are an alternative means of acquiring control of a company to making a takeover bid under the provisions in Ch 6 of the Corporations Act 2001 (Cth). The recent decision Re Kumarina Resources Ltd [2013] FCA 549 overturned long-standing practice in relation to a certain type of transfer scheme. If followed, the decision would allow a “bidder” to vote at scheme meetings where the scheme consideration for the acquisition of the target shares are shares in another company, and the scheme results in a merger. But the bidder is not allowed to vote where the scheme consideration is cash. The article points out the difficulties arising from this decision and argues that it should not be followed. In providing a “no objection” statement, the Australian Securities and Investments Commission (ASIC) has created uncertainty as to the approach it will take towards the bidders being allowed to vote at scheme meetings where the scheme consideration for the acquisition of target shares are shares in another company. The article also points out that in providing the no objection statement in Kumarina, ASIC appears to have ignored breaches of s 606(1) of the Corporations Act. There is a pressing need for ASIC to clarify its position and, in particular, whether or not it will provide a no objection statement in respect of future transfer schemes where a bidder (or its parent company) votes at the scheme meeting.