Valuation of family firms : the limitations of accounting information

This conceptual paper explores the extent to which reported accounting information captures unique family firm decision-making and intangible asset factors that impact financial value. We review the family firm valuation-relevant literature and identify that this body of research is predicated on the assumption that accounting information reflects the underlying reality of family firms. This research, however, fails to recognise that current accounting technology does not fully recognise the family firm factors in the book value of the firm or the implications for long run persistence of earnings. Thus, valuation models underpinning the extant empirical research, which are predicated on reported accounting information, may not fully reflect the intrinsic value of family firms. We present propositions on the interaction between accounting information, family factors and valuation as a road map for future empirical research with a discussion of appropriate methodologies.

Resilience by design: A participatory approach to designing an interactive digital application for promoting children's resilience

The promotion of resilience (the capacity of an individual or community to bounce back and recover from adversity) has become an important area of public health. In recent years it has expanded into the digital domain, and many online applications have been developed to promote children's resilience. In this study, it is argued that the majority of existing applications are limited because they take a didactic approach, and conceive of interaction as providing navigational choices. Because they simply provide information about resilience or replicate offline, scenario-based strategies, the understanding of resilience they provide is confined to a few, predetermined factors. In this study I propose a new, experiential approach to promoting resilience digitally. I define resilience as an emergent, situated and context-specific phenomenon. Using a Participatory Design model in combination with a salutogenic (strength-based) health methodology, this project has involved approximately 50 children as co-designers and co-researchers over two years. The children have contributed to the design of a new set of interactive resilience tools, which facilitate resilience promotion through dialogic and experiential learning. The major outcomes of this study include a new methodology for developing digital resilience tools, a new set of tools that have been developed and evaluated in collaboration with children and a set of design principles to guide future development. Beyond these initial and tangible outcomes, this study has also established that the benefits of introducing Participatory Design into a health promoting model rests primarily in the change of the role of children from "users" of technology and education to co-designers, where they assume a leadership role in both designing the tools and in directing their resilience learning.

Emergent participant interaction

Emergence has the potential to effect complex, creative or open-ended interactions and novel game-play. We report on research into an emergent interactive system. This investigates emergent user behaviors and experience through the creation and evaluation of an interactive system. The system is +-NOW, an augmented reality, tangible, interactive art system. The paper briefly describes the qualities of emergence and +-NOW before focusing on its evaluation. This was a qualitative study with 30 participants conducted in context. Data analysis followed Grounded Theory Methods. Coding schemes, induced from data and external literature are presented. Findings show that emergence occurred in over half of the participants. The nature of these emergent behaviors is discussed along with examples from the data. Other findings indicate that participants found interaction with the work satisfactory. Design strategies for facilitating satisfactory experience despite the often unpredictable character of emergence, are briefly reviewed and potential application areas for emergence are discussed.

Exploration and reflection in interactive art : glass pond

Glass Pond is an interactive artwork designed to engender exploration and reflection through an intuitive, tangible interface and a simulation agent. It is being developed using iterative methods. A study has been conducted with the aim of illuminating user experience, interface, design, and performance issues.The paper describes the study methodology and process of data analysis including coding schemes for cognitive states and movements. Analysis reveals that exploration and reflection occurred as well as composing behaviours (unexpected). Results also show that participants interacted to varying degrees. Design discussion includes the artwork's (novel) interface and configuration.

Pulse Gauntlets

To feel another person’s pulse is an intimate and physical interaction. In these prototypes we use near field communications to extend the tangible reach of our heart beat, so another person can feel our heart beat at a distance. The work is an initial experiment in near field haptic interaction, and is used to explore the quality of interactions resulting from feeling another persons pulse. The work takes the form of two feathered white gauntlets, to be worn on the fore arm. Each of the gauntlets contain a pulse sensor, radio transmitter and vibrator. The pulse of the wearer is transmitted to the other feathered gauntlet and transformed into haptic feedback. When there are two wearers, their heart beats are exchanged. To be felt by of each other without physical contact.

Of repetition and of song

Allyson Reynolds, for many years now, has been a keen student of nature. Nature’s forms have always been important to her work, but it would be wrong to see Reynolds as simply transcribing directly from the natural world. For this artist, nature and the natural world represents an elusive invitation and so Reynolds doesn’t so much paint from nature, although resemblance and imitation are clearly evident, as work to render visually and emotionally tangible this invitation. And for a viewer this is no small thing as the invitation is to become attuned and connect with nature as it exists in ourselves, that is to see as nature. Reynolds’ is inviting us as viewers to connect and participate with the nature of nature that is evident in ourselves through the act of perceiving. Reynolds’ work can do this because it is a work born of deep evocation. The sensibility from which it emerges or is transacted is poetic, intensely so, but more than that it works to make of viewing an act of poetry, through a celebration of seeing. Reynolds evocation is born of a deep feeling towards and contemplation of the natural world - it is as though the world lives in her and is now a seamless part of her creative vocabulary. In such personal work there is a profoundly felt and revealed sense of the intimate and like true intimacy it revels in both its dark and quiet, as well as its playful and light, aspects. What is special about Reynolds’ visual poetry is that it able to render this intimacy so accessible. It is an accessibility that is available for the viewer who is able to not only look but also surrender to that looking, accepting and working with the flow of thoughts and associations it occasions...

"Please touch the plant on your way up the stairs..."

We are aware of global concerns of sustainability and are encouraged on many fronts to modify our behaviour to save the planet but sometimes this understanding is more intellectual than motivated. An opportunity was identified within the university environment to activate a pilot study to investigate the level of voluntary student engagement in saving energy if a plant/digital interface were introduced. We postulate that people may be more inclined to participate in a "green" activity if they are more directly aware of the benefits. This project also seeks to discover if the introduction of nature (green plants) as the interface would encourage users to increase participation in socially responsive activities. Using plants as the interface offers an immediate sensory connection between the participants and the outcome of their chosen actions. This may generate a deeper awareness of the environment by enabling the participant to realise that their one small action in an ordinary day can contribute positively to larger global issues.

Knowing our users: scoping interviews in design research with ageing participants

This paper reports the findings from a series of scoping interviews designed to evaluate, ground and refine the initial understandings, assumptions and concepts of a research team in a larger project about the role of social and tangible technologies in maintaining good habits into old age. Participants' understandings of some basic terms used in the research are presented along with a discussion of their current use of new and established information and communications technologies and the existing barriers to ongoing uptake of emerging technologies. The findings suggest that we question common assumptions about both ageing and technology usage by ageing people, demonstrating the contribution such early scoping interviews can make within design research projects.

A framework of promoting stakeholder mutual benefits for sustainable housing implementation

Strong regulatory pressure and rising public awareness on environmental issues will continue to influence the market demand for sustainable housing for years to come. Despite this potential, the voluntary uptake rate of sustainable practices is not as high as expected within the new built housing industry. This is in contrast to the influx of emerging building technologies, new materials and innovative designs as showcased in office buildings and exemplar homes worldwide. One of the possible reasons for this under-performance is that key stakeholders such as developers, builders and consumers do not fully understand and appreciate the related challenges, risks and opportunities of pursuing sustainability. Therefore, in their professional and business activities, they may not be able to see the tangible and mutual benefits that sustainable housing may bring. This research investigates the multiple challenges to achieving benefits (CABs) from sustainable housing development, and links these factors to the characteristics of key stakeholders in the housing supply chain. It begins with a comparative survey study among seven stakeholder groups in the Australian housing industry, in order to examine the importance and interrelationships of CABs. In-depth interviews then further explore the survey findings with a focus on stakeholder diversity, which leads to the identification of 12 critical mutual-benefit factors and their interrelationship. Based on such a platform, a mutual-benefit framework is developed with the aid of Interpretive Structure Modelling, to identify the patterns of stakeholder benefit materialisation, suggest the priority of critical factors and provide related stakeholder-specific action guidelines for sustainable housing implementation. The study concludes with a case study of two real-life housing projects to test the application of the mutual-benefit framework for improvement. This framework will lead to a shared value of sustainability among stakeholders and improved stakeholder collaboration, which in turn help to break the "circle of blame" for the current under-performance of sustainable housing implementation.

Inferencing design styles using Baysian Networks

Reasoning with uncertain knowledge and belief has long been recognized as an important research issue in Artificial Intelligence (AI). Several methodologies have been proposed in the past, including knowledge-based systems, fuzzy sets, and probability theory. The probabilistic approach became popular mainly due to a knowledge representation framework called Bayesian networks. Bayesian networks have earned reputation of being powerful tools for modeling complex problem involving uncertain knowledge. Uncertain knowledge exists in domains such as medicine, law, geographical information systems and design as it is difficult to retrieve all knowledge and experience from experts. In design domain, experts believe that design style is an intangible concept and that its knowledge is difficult to be presented in a formal way. The aim of the research is to find ways to represent design style knowledge in Bayesian net works. We showed that these networks can be used for diagnosis (inferences) and classification of design style. The furniture design style is selected as an example domain, however the method can be used for any other domain.

Knowledge sharing leveraging new product development activities to derive enhanced business performance : mixed method study

Knowledge has been widely recognised as a determinant of business performance. Business capabilities require an effective share of resource and knowledge. Specifically, knowledge sharing (KS) between different companies and departments can improve manufacturing processes since intangible knowledge plays an enssential role in achieving competitive advantage. This paper presents a mixed method research study into the impact of KS on the effectiveness of new product development (NPD) in achieving desired business performance (BP). Firstly, an empirical study utilising moderated regression analysis was conducted to test whether and to what extent KS has leveraging power on the relationship between NPD and BP constructs and variables. Secondly, this empirically verified hypothesis was validated through explanatory case studies involving two Taiwanese manufacturing companies using a qualitative interaction term pattern matching technique. The study provides evidence that knowledge sharing and management activities are essential for deriving competitive advantage in the manufacturing industry.

Daylighting design and simulation : ease of use analysis of digital tools for architects

Good daylighting design in buildings not only provides a comfortable luminous environment, but also delivers energy savings and comfortable and healthy environments for building occupants. Yet, there is still no consensus on how to assess what constitutes good daylighting design. Currently amongst building performance guidelines, Daylighting factors (DF) or minimum illuminance values are the standard; however, previous research has shown the shortcomings of these metrics. New computer software for daylighting analysis contains new more advanced metrics for daylighting (Climate Base Daylight Metrics-CBDM). Yet, these tools (new metrics or simulation tools) are not currently understood by architects and are not used within architectural firms in Australia. A survey of architectural firms in Brisbane showed the most relevant tools used by industry. The purpose of this paper is to assess and compare these computer simulation tools and new tools available architects and designers for daylighting. The tools are assessed in terms of their ease of use (e.g. previous knowledge required, complexity of geometry input, etc.), efficiency (e.g. speed, render capabilities, etc.) and outcomes (e.g. presentation of results, etc. The study shows tools that are most accessible for architects, are those that import a wide variety of files, or can be integrated into the current 3d modelling software or package. These software’s need to be able to calculate for point in times simulations, and annual analysis. There is a current need in these software solutions for an open source program able to read raw data (in the form of spreadsheets) and show that graphically within a 3D medium. Currently, development into plug-in based software’s are trying to solve this need through third party analysis, however some of these packages are heavily reliant and their host program. These programs however which allow dynamic daylighting simulation, which will make it easier to calculate accurate daylighting no matter which modelling platform the designer uses, while producing more tangible analysis today, without the need to process raw data.

Business in troubled waters : does adverse attitude affect firm value?

This paper investigates the relationship between US MNCs' valuations and anti-Americanism in countries where MNCs' foreign subsidiaries are located. We find that MNCs suffer value-destruction when they enter markets where people express severe anti-Americanism. However, we uncover that geographic diversification into these high anti-Americanism countries significantly increases firm value if the MNC has high levels of intangibles such as technological know-how and marketing expertise. Our findings are consistent with the notion that the advantages from internalizing the cross-border transfer of intangibles are greater when barriers to competition are higher.

Habituated objects : everyday tangibles that foster the independent living of an elderly woman

The boundaries between 'the digital' and our everyday physical world are dissolving as we develop more physical ways of interacting with computing. This forum presents some of the topics discussed in the colorful multidisciplinary field of tangible and embodied interaction