Current trends and issues in geographical education

In this introductory chapter to Schmeinck, D. and Lidstone, J. (2014) “Current trends and issues in geographical education” in Schmeinck, D. and Lidstone, J. (2014) Eds) Standards and Research in Geographical Education: Current Trends and International Issues. Berlin. Mensch und Buch Verlag. Pp. 5 - 16. , the authors review and analyse eleven papers originally presented to the Congress of the International Geographical Union held in Cologne in 2012. Taking the collection of papers as a single corpus representing the “state of the art” of geography education, they applied lexical and bibliometric analyses in an innovative attempt to identify the nature of geographical education as represented by this anthology of peer reviewed chapters presented at the start of the second decade of the Twenty-first century?

Who selects the 'right' directors? An examination of the association between board selection, gender diversity and outcomes

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.

Aligning off-balance sheet risk, on-balance sheet risk and audit fees: a PLS path modelling analysis

This study focuses on using the partial least squares (PLS) path modelling methodology in archival auditing research by replicating the data and research questions from prior bank audit fee studies. PLS path modelling allows for inter-correlations among audit fee determinants by establishing latent constructs and multiple relationship paths in one simultaneous PLS path model. Endogeneity concerns about auditor choice can also be addressed with PLS path modelling. With a sample of US bank holding companies for the period 2003-2009, we examine the associations among on-balance sheet financial risks, off-balance sheet risks and audit fees, and also address the pervasive client size effect, and the effect of the self-selection of auditors. The results endorse the dominating effect of size on audit fees, both directly and indirectly via its impacts on other audit fee determinants. By simultaneously considering the self-selection of auditors, we still find audit fee premiums on Big N auditors, which is the second important factor on audit fee determination. On-balance-sheet financial risk measures in terms of capital adequacy, loan composition, earnings and asset quality performance have positive impacts on audit fees. After allowing for the positive influence of on-balance sheet financial risks and entity size on off-balance sheet risk, the off-balance sheet risk measure, SECRISK, is still positively associated with bank audit fees, both before and after the onset of the financial crisis. The consistent results from this study compared with prior literature provide supporting evidence and enhance confidence on the application of this new research technique in archival accounting studies.

Research in Early Childhood Education for Sustainability : International Perspectives and Provocations

Sustainability is a global issue that urgently needs addressing, the most serious consequences of which concern children and future generations. This insightful research text tackles one of the most significant contemporary issues of our times – the nexus between society and environment – and how early childhood education can contribute to sustainable living. By offering international and multidisciplinary research perspectives on Early Childhood Education for Sustainability, each chapter explores and investigates the complex topic of sustainability and its relationship to early childhood education. A particular emphasis that runs through this text is young children as empowered citizens, capable of both contributing to and creating change for sustainability. The chapter authors work from, or are aligned with, a transformative education paradigm that suggests the socio-constructivist frameworks currently underpinning Early Childhood Education require reframing in light of the social transformations necessary to address humanity’s unsustainable, unjust and unhealthy living patterns. This research text is designed to be provocative and challenging; in so doing it seeks to encourage exploration of current understandings about Early Childhood Education for Sustainability, offers new dimensions for more deeply informed practice, and proposes avenues for further research in this field.

Regional trade-offs between mine water and energy use : a water treatment case study

The mining industry faces concurrent pressures of reducing water use, energy consumption and greenhouse gas (GHG) emissions in coming years. However, the interactions between water and energy use, as well as GHG e missions have largely been neglected in modelling studies to date. In addition, investigations tend to focus on the unit operation scale, with little consideration of whole-of-site or regional scale effects. This paper presents an application of a hierarchical systems model (HSM) developed to represent water, energy and GHG emissions fluxes at scales ranging from the unit operation, to the site level, to the regional level. The model allows for the linkages between water use, energy use and GHG emissions to be examined in a fl exible and intuitive way, so that mine sites can predict energy and emissions impacts of water use reduction schemes and vice versa. This paper examines whether this approach can also be applied to the regional scale with multiple mine sites. The model is used to conduct a case study of several coal mines in the Bowen Basin, Australia, to compare the utility of centralised and decentralised mine water treatment schemes. The case study takes into account geographical factors (such as water pumping distances and elevations), economic factors (such as capital and operating cost curves for desalination treatment plants) and regional factors (such as regionally varying climates and associated variance in mine water volumes and quality). The case study results indicate that treatment of saline mine water incurs a trade-off between water and energy use in all cases. However, significant cost differences between centralised and decentralised schemes can be observed in a simple economic analysis. Further research will examine the possibility for deriving model up-scaling algorithms to reduce computational requirements.

Do socially responsible investment indexes outperform conventional indexes?

The question of whether more Socially Responsible (SR) firms outperform or underperform other conventional firms has been debated in the economic literature. In this study, using the Socially Responsible Investment (SRI) indexes and conventional stock indexes in the US, the UK and Japan, first and second moments of firm performance distributions are estimated based on the Markov Switching (MS) model. We find two distinct regimes (bear and bull) in the SRI markets as well as the stock markets for all the three countries. These regimes occur with the same timing in both types of market. No statistical difference in means and volatilities generated from the SRI indexes and conventional indexes in either region was found. Furthermore, we find strong comovements between the two indexes in both the regimes.

Effectiveness of policy against illegal disposal of waste

Our objective is to analyze the effectiveness, against the illegal disposal of waste, of a licensing system that has been introduced in a waste management policy. We theoretically find enforcement leverage in the licensing system, and then examine the theoretical result empirically. The results suggest that extending liability to disposers, which forms the basis of the enforcement leverage, deters illegal disposal more effectively than increasing penalties for illegal disposal. We also obtain evidence of transboundary movement of illegal disposal, and find how the court determines penalties for illegal disposal.

Standard business reporting in Australia : efficiency, effectiveness, or both?

The benefits of using eXtensible Business Reporting Language (XBRL) as a business reporting standard have been widely canvassed in the extant literature, in particular, as the enabling technology for standard business reporting tools. One of the key benefits noted is the ability of standard business reporting to create significant efficiencies in the regulatory reporting process. Efficiency-driven cost reductions are highly desirable by data and report producers. However, they may not have the same potential to create long-term firm value as improved effectiveness of decision making. This study assesses the perceptions of Australian business stakeholders in relation to the benefits of the Australian standard business reporting instantiation (SBR) for financial reporting. These perceptions were drawn from interviews of persons knowledgeable in XBRL-based standard business reporting and submissions to Treasury relative to SBR reporting options. The combination of interviews and submissions permit insights into the views of various groups of stakeholders in relation to the potential benefits. In line with predictions based on a transaction-cost economics perspective, interviewees who primarily came from a data and report-producer background mentioned benefits that centre largely on asset specificity and efficiency. The interviewees who principally came from a data and report-consumer background mentioned benefits that centre on reducing decision-making uncertainty and decision-making effectiveness. The data and report consumers also took a broader view of the benefits of SBR to the financial reporting supply chain. Our research suggests that advocates of SBR have successfully promoted its efficiency benefits to potential users. However, the effectiveness benefits of SBR, for example, the decision-making benefits offered to investors via standardised reports, while becoming more broadly acknowledged, remain not a priority for all stakeholders.

The value of tail risk hedging in defined contribution plans: What does history tell us

Hedging against tail events in equity markets has been forcefully advocated in the aftermath of recent global financial crisis. Whether this is beneficial to long horizon investors like employees enrolled in defined contribution (DC) plans, however, has been subject to criticism. We conduct historical simulation since 1928 to examine the effectiveness of active and passive tail risk hedging using out of money put options for hypothetical equity portfolios of DC plan participants with 20 years to retirement. Our findings show that the cost of tail hedging exceeds the benefits for a majority of the plan participants during the sample period. However, for a significant number of simulations, hedging result in superior outcomes relative to an unhedged position. Active tail hedging is more effective when employees confront several panic-driven periods characterized by short and sharp market swings in the equity markets over the investment horizon. Passive hedging, on the other hand, proves beneficial when they encounter an extremely rare event like the Great Depression as equity markets go into deep and prolonged decline.

Globalisation and national curriculum reform in Australia : the push for Asia literacy

This chapter explores the policy context for the push for a national curriculum and the inclusion of Asia literacy for schooling in Australia in the light of current links between globalisation, education and policy analysis and the notion of the learning/knowledge society of the twenty-first century. It is anticipated that discussion of the Australian context will be insightful for those other nations concerned with positioning Asia in school curricula, including for example, New Zealand, Canada, USA and UK. In doing so, the chapter considers the challenges to the implementation of Asia literacy in Australia with specific reference to current and future teachers for, as with many nations, the teaching profession in Australia is on the cusp of generational change as large numbers of teachers aged in their mid to late fifties embark on retirement (Teaching Australia, 2007). A major challenge in addressing these demographic shifts in Australia, lies with meeting the demand for replacement teachers and preparing future teachers (Skilbeck, & Connell, 2004; McKenzie, 2012) with Asia-related knowledge.

The National Curriculum and history school textbooks in Australia and the Russian Federation

This chapter analyses recent policy reforms in the national history curriculum in both Australia and the Russian Federation. It analyses those emphases in the national curriculum in history that depict new representations and historiography and the ways in which this is foregrounded in History school textbooks. In doing so, it considers the debates about what version of the nation’s past are deemed significant, and what should be transmitted to future generations of citizens. In this discussion of national history curricula, consideration is made of the curriculum’s officially defined status as an instrument in the process of ideological transformation, and nation-building. The chapter also examines how history textbooks are implicit in this process, in terms of reproducing and representing what content is selected and emphasised in a national history curriculum.

Geography and international assessment: Opportunity or distraction

Assessments of students in primary and secondary education are debated among practitioners, policy-makers, and parents. In some countries, assessment scores serve a criterion for passage between levels of education, for example, from secondary school to post-secondary education. Those practices are often traditions and while they come under criticism, they are a long-accepted part of the educational practices within a country. In those countries, the students’ assessment and examination scores are posted in public places or published in local news media. In other countries, assessments are used for the periodic checks on individual student progress. The results of assessments may be used for rating schools, and in some cases, they are used for evaluating the performance of teachers. Assessments are used less often to analyze student performance and make judgments regarding the performance of the curriculum. Even less often, assessments serve to critically establish strategies for the improvement of student learning and educational practices. The ends on the continuum of the assessment debate often focus on the opportunities that assessments present to improve education on one end. The other end is that assessments serve as a major distraction from the important work of teachers by removing classroom room time from instruction. The debate on those issues continues.

Exploring the Potential to Educate “Good Citizens” through the Australian Civics and Citizenship Curriculum.

This chapter examines the ways in which notions of ‘a good citizen’ and ‘civic virtue’ have been conceptualized in the new Civics and Citizenship Curriculum for students in Years 3 – 10 in Australia. It argues that whilst Civics and Citizenship Education (CCE) has, over time and in various ways, been recognized as a significant aspect of Australian education, only recently has attention been given to the relational and multidimensional conceptions of citizenship. Considerations of ‘morality’, ‘a good citizen’ and ‘civic virtue’ offer possibilities to engage with multidimensional notions of citizenship, which acknowledge that citizenship perspectives can be affected by personal, social, spatial and temporary situations (Cogan & Derricott, 2000). In the current statement on national goals for schooling in Australia, which informed the development of CCE, the Melbourne Declaration (MCEETYA, 2008) called for young Australians to be educated to “act with moral and ethical integrity” and be “committed to national values of democracy, equity and justice, and participate in Australia’s civic life” (MCEETYA, 2008, pp. 8–9). The chapter claims that this maximal emphasis (McLaughlin, 1992), based on active, values based and interpretive approaches to democratic citizenship which encourage debate and participation in civil society, was evident in the new Civics and Citizenship Curriculum. However, it contends that the recommendations of the recent Review of the Australian Curriculum: Final report (Australian Government, 2014a & b), will now limit CCE’s potential to deliver the sort of active and informed citizenship heralded by the Melbourne Declaration. This is because the Review advocates for a content-focused minimal (McLaughlin, 1992) emphasis on civic knowledge, with diminished attention to citizenship participation and processes. In doing so, the Review foregrounds conceptions of the ‘good citizen’ in more limited terms of responsibility, obligations and compliance with the status quo.