Feasibility of open markets for mainline railways in China

For decades, the development, construction, track ownership and operation of mainline railways in China have been overseen by the state-owned authorities. From mid-90’s, the mainline railway management has undergone revamps to revitalize the intra-modal competitiveness of railway transportation and to steer it toward the direction of modern business management. With the rapid economic growth; the large-scale expansion of the mainline network; and the increasing expectation on service, the mainline railways in China require further restructuring. Inevitably, a sustainable approach to ensure business viability and service quality in the next few decades is an imminent challenge. This paper reviews the operations and management of mainline railway in China and discusses the possibility of introducing open access market. Drawing the experiences on railway open markets outside China, the discussions include the need and feasibility of railway open market in China; and the suitability and limitations of different models. Particular considerations will be given to the unique characteristics of the mainline railways in China, where the developments across neighbouring regions are unbalanced; freight and passenger services are of similar demands; and the high-speed train operations are operated with low-speed ones in mixed traffic.

Momentum and seasonality in Chinese stock markets

In this paper, we follow Jegadeesh and Titman's (1993, Journal of Finance) approach to examine 25 momentum/contrarian trading strategies using monthly stock returns in China for the period from 1994 to 2007. Our results suggest that there is no momentum profitability in any of the 25 strategies. In contrast, there is some evidence of reversal effects where the past winners become losers and past losers become winners afterward. The contrarian profit is statistically significant for the strategies using short formation and holding periods, especially for the formation periods of 1 to 3 months and the holding periods of 1 to 3 months. The contrarian strategies can generate about 12% per annum on average. Moreover, we follow Heston and Sadka (2008, Journal of Financial Economics) to investigate where there is any seasonal pattern in the cross-sectional variation of average stock returns in our momentum/contrarian strategies. There is no evidence of any seasonal pattern, and the results are robust to different formation and holding periods.

China's Creative Industries : Copyright, Social Network Markets and the Business of Culture in a Digital Age

China’s Creative Industries explores the role of new technologies, globalization and higher levels of connectivity in re-defining relationships between ‘producers’ and ‘consumers’ in 21st century China. The evolution of new business models, the impact of state regulation, the rise of entrepreneurial consumers and the role of intellectual property rights are traced through China’s film, music and fashion industries. The book argues that social network markets, consumer entrepreneurship and business model evolution are driving forces in the production and commercialization of cultural commodities. In doing so it raises important questions about copyright’s role in the business of culture, particularly in a digital age.

Fashion as consumer entrepreneurship : emergent risk culture, social network markets, and the launch of Vogue in China

China has a reputation as an economy based on utility: the large-scale manufacture of low-priced goods. But useful values like functionality, fitness for purpose and efficiency are only part of the story. More important are what Veblen called ‘honorific’ values, arguably the driving force of development, change and value in any economy. To understand the Chinese economy therefore, it is not sufficient to point to its utilitarian aspect. Honorific status-competition is a more fundamental driver than utilitarian cost-competition. We argue that ‘social network markets’ are the expression of these honorific values, relationships and connections that structure and coordinate individual choices. This paper explores how such markets are developing in China in the area of fashion and fashion media. These, we argue, are an expression of ‘risk culture’ for high-end entrepreneurial consumers and producers alike, providing a stimulus to dynamic innovation in the arena of personal taste and comportment, as part of an international cultural system based on constant change. We examine the launch of Vogue China in 2005, and China’s reception as a fashion player among the international editions of Vogue, as an expression of a ‘decisive moment’ in the integration of China into an international social network market based on honorific values.

The relationship between Australians and the overseas graves of the First World War

The purpose of this thesis is to outline the relationship that existed in the past and exists in the present, between Australians and the War Graves and Memorials to the Missing. commemorations of Australians who died during the First World War. Their final resting places are scattered all over the world and provide a tangible record of the sacrifice of men and women in the war, and represent the final result by Official Agencies such as the Imperial, and later, Commonwealth War Graves Commission, and its agency representative, the Office of Australian War Graves, of an attempt to appropriately commemorate them. The study follows the path of history from the event of death of an individual in the First World War, through their burial; temporary grave or memorial commemoration; the permanent commemoration; the family and public reaction to the deaths; how the Official Agencies of related Commonwealth Governments dealt with the dead; and finally, how the Australian dead are represented on the battlefields of the world in the 21st century. Australia.s war dead of the First World War are scattered around the globe in more than 40 countries and are represented in war cemeteries and civil cemeteries; and listed on large „Memorials to the Missing., which commemorate the individuals devoid of a known graves or final resting place.

The embodied hybrid space : designing ubiquitous computing towards an amplification of situated real world experiences

The emergence of mobile and ubiquitous computing technology has created what is often referred to as the hybrid space – a virtual layer of digital information and interaction opportunities that sit on top of and augment the physical environment. Embodied media materialise digital information as observable and sometimes interactive parts of the physical environment. The aim of this work is to explore ways to enhance people’s situated real world experience, and to find out what the role and impact of embodied media in achieving this goal can be. The Edge, an initiative of the State Library of Queensland in Brisbane, Australia, and case study of this thesis, envisions to be a physical place for people to meet, explore, experience, learn and teach each other creative practices in various areas related to digital technology and arts. Guided by an Action Research approach, this work applies Lefebvre’s triad of space (1991) to investigate the Edge as a social space from a conceived, perceived and lived point of view. Based on its creators’ vision and goals on the conceived level, different embodied media are iteratively designed, implemented and evaluated towards shaping and amplifying the Edge’s visitor experience on the perceived and lived level.

Powered two wheelers in a changing world : challenges and opportunities

Powered two wheelers (PTWs) come in diverse forms and are used for a range of purposes in very different parts of the world. In many parts of the world, the forms and uses of PTWs are changing, influenced by social, economic and demographic changes. Most of the challenges associated with PTWs relate to safety, while the majority of the opportunities relate to mobility. The challenges for improving safety relate to the PTW user, other road users, the road environment, the vehicle, data and research, and socio-political dimensions. The relative importance of particular challenges varies between developed and developing countries, and among developing countries according to whether PTWs are largely used for recreation or for transport. PTWs present a range of psychological, transport, economic and environmental opportunities to individuals and societies. The fun and excitement of riding PTWs is a major motivator for their purchase and use for recreational purposes, both off-road and on-road. The transport and economic advantages to the individual also need to be considered. At a societal level, research has examined the potential for increasing PTW volumes to reduce fossil fuel use and traffic congestion in busy cities. The future of PTWs may differ greatly between countries and environmental and technological changes are leading to an evolution in the form of PTWs to encompass new modes of personal transportation.

New media services : ratings and recommendations websites in the travel and tourism industry

The travel and hospitality industry is one which relies especially crucially on word of mouth, both at the level of overall destinations (Australia, Queensland, Brisbane) and at the level of travellers’ individual choices of hotels, restaurants, sights during their trips. The provision of such word-of-mouth information has been revolutionised over the past decade by the rise of community-based Websites which allow their users to share information about their past and future trips and advise one another on what to do or what to avoid during their travels. Indeed, the impact of such user-generated reviews, ratings, and recommendations sites has been such that established commercial travel advisory publishers such as Lonely Planet have experienced a pronounced downturn in sales ¬– unless they have managed to develop their own ways of incorporating user feedback and contributions into their publications. This report examines the overall significance of ratings and recommendation sites to the travel industry, and explores the community, structural, and business models of a selection of relevant ratings and recommendations sites. We identify a range of approaches which are appropriate to the respective target markets and business aims of these organisations, and conclude that there remain significant opportunities for further operators especially if they aim to cater for communities which are not yet appropriately served by specific existing sites. Additionally, we also point to the increasing importance of connecting stand-alone ratings and recommendations sites with general social media spaces like Facebook, Twitter, and LinkedIn, and of providing mobile interfaces which enable users to provide updates and ratings directly from the locations they happen to be visiting. In this report, we profile the following sites: * TripAdvisor, the international market leader for travel ratings and recommendations sites, with a membership of some 11 million users; * IgoUgo, the other leading site in this field, which aims to distinguish itself from the market leader by emphasising the quality of its content; * Zagat, a long-established publisher of restaurant guides which has translated its crowdsourcing model from the offline to the online world; * Lonely Planet’s Thorn Tree site, which attempts to respond to the rise of these travel communities by similarly harnessing user-generated content; * Stayz, which attempts to enhance its accommodation search and booking services by incorporating ratings and reviews functionality; and * BigVillage, an Australian-based site attempting to cater for a particularly discerning niche of travellers; * Dopplr, which connects travel and social networking in a bid to pursue the lucrative market of frequent and business travellers; * Foursquare, which builds on its mobile application to generate a steady stream of ‘check-ins’ and recommendations for hospitality and other services around the world; * Suite 101, which uses a revenue-sharing model to encourage freelance writers to contribute travel writing (amongst other genres of writing); * Yelp, the global leader in general user-generated product review and recommendation services. In combination, these profiles provide an overview of current developments in the travel ratings and recommendations space (and beyond), and offer an outlook for further possibilities. While no doubt affected by the global financial downturn and the reduction in travel that it has caused, travel ratings and recommendations remain important – perhaps even more so if a reduction in disposable income has resulted in consumers becoming more critical and discerning. The aggregated word of mouth from many tens of thousands of travellers which these sites provide certainly has a substantial influence on their users. Using these sites to research travel options has now become an activity which has spread well beyond the digirati. The same is true also for many other consumer industries, especially where there is a significant variety of different products available – and so, this report may also be read as a case study whose findings are able to be translated, mutatis mutandis, to purchasing decisions from household goods through consumer electronics to automobiles.

Catch me if you can : the effective service of bankruptcy documents in a changing world

This article discusses some recent judicial decisions to assist legal practitioners to overcome some of the problems encountered when serving Bankruptcy Notices and Creditor’s Petitions. Some of the issues covered in the discussion are: What the valid last-known address of the debtor can be, whether a Bankruptcy Notice can be validly served by email on a debtor who is located outside Australia, whether service of a Bankruptcy Notice is valid when the debtor is outside Australia when service on the debtor occurs in Australia, whether the creditor’s failure to obtain leave for service of a Bankruptcy Notice can be excused, what can be done regarding personal service of a Creditor’s Petition when a debtor is outside Australia and whether the Court can set aside a sequestration order. The article goes on to place the issues in the context of broader bankruptcy policies noting that effective service of bankruptcy documents is challenging in a world where mobility of debtors is global and new modes of communication ever changing.

Attack of the creationist reverberators! Or: the end of the world (as we know it)

This special issue of Popular Communication examines the impact of the global financial crisis and recession on differnt aspects of global and regional media and the cultural industries, changing practices of media production, as well as media consumption, and the interplay of economic challenges and technological change.

Engaging marketing students : student operated businesses in a simulated world

Engaged students are committed and more likely to continue their university studies. Subsequently, they are less resource intensive from a university’s perspective. This article details an experiential second-year marketing course that requires students to develop real products and services to sell on two organized market days. In the course, students participate as both consumers and marketers in a simulated world. The current article explores the effectiveness of this experiential assessment in terms of its ability to engage students. Comparing student engagement to a traditional lecture course and National Survey of Student Engagement benchmarks, the results suggest that the use of a simulated marketplace is capable of engaging students. Specifically, the assessment reported encourages more active learning and collaboration, is more academically challenging, and permits more student–faculty interaction than a traditional lecture-based course. The course structure outlined in this article permits the dynamics of a live marketing environment to be introduced into the classroom. The authors provide practical advice for educators seeking to design and implement engaging pedagogy.

International journalism and democracy : civic engagement models from around the world

"International Journalism and Democracy" explores a new form of journalism that has been dubbed ‘deliberative journalism’. As the name suggests, these forms of journalism support deliberation — the processes in which citizens recognize and discuss the issues that affect their communities, appraise the potential responses to those issues, and make decisions about whether and how to take action. Authors from across the globe identify the types of journalism that assist deliberative politics in different cultural and political contexts. Case studies from 15 nations spotlight different approaches to deliberative journalism, including strategies that have been sometimes been labeled as public or civic journalism, peace journalism, development journalism, citizen journalism, the street press, community journalism, social entrepreneurism, or other names. Countries that are studied in-depth include the United States, the United Kingdom, Germany, Finland, China, India, Japan, Indonesia, Australia, New Zealand, South Africa, Nigeria, Brazil, Colombia and Puerto Rico. Each of the approaches that are described offers a distinctive potential to support deliberative democracy. However, the book does not present any of these models or case studies as examples of categorical success. Instead, it explores different elements of the nature, strengths, limitations and challenges of each approach, as well as issues affecting their longer-term sustainability and effectiveness. The book also describes the underlying principles of deliberation, the media’s potential role in deliberation from a theoretical and practical perspective, and ongoing issues for deliberative media practitioners.

Creative industry and world city construction : Beijing as a creative world city

The study of the creative industries is not much more than a decade old. What makes it fascinating is that it is dealing with a rapidly evolving process, where a good deal of Schumpeterian ‘creative destruction’ – of old industries, business models, and some familiar cultural and creative pursuits – can already be observed. What happens next – and who will be the winner – is hard to predict. Furthermore, the creative industries encompass both large-scale ‘industry’ (media, publishing, digital applications) and individual creative talent; both economic and cultural values, and both global reach and local context. Thus, the challenge is to integrate ‘top-down’ policy and planning with ‘bottom-up’ experimentation and innovation. There is always the promise that this new creative ecology will provide some novel answers to problems of wealth-creation for emergent economies, new solutions to problems of intellectual emancipation for individuals, and sustainable development for that most intense incubator of creative ideas, the city.

Digital storytelling around the world

‘Digital storytelling’ is a workshop-based practice in which ‘ordinary’ people are taught to use digital media to create short audio-video stories, usually about their own lives. The idea is that this puts the universal human delight in narrative and self expression into the hands of everyone in the digital age; and potentially brings individual experience, ideas, creativity and imagination to the attention of the whole world. It gives a voice to the myriad tales of everyday life as experienced by ordinary people in their own terms. Despite its use of the latest technologies, its purpose is simple and human.