Why do so few hold stocks : theory and evidence

This study develops a life-cycle model where investors make investment decisions in a realistic environment. Model results show that personal illiquid projects (housing and children), fixed costs (once-off/per-period participation costs plus variable/fixed transaction costs) and endogenous risky human capital (with permanent, transitory and disastrous shocks) together are able to address both the non-participation puzzle and the age-effects puzzle. Empirical implications of the model are examined using Heckman’s two-step method with the latest five Surveys of Consumer Finance (SCF). Regression results show that liquidity, informational cost and human capital are indeed the major determinants of participation and asset allocation decisions at different stages of an investor’s life.

"Over The Hill" is not so far away : crossing teaching contexts to create benefits for all through rural teaching experiences.

Attracting and retaining quality teachers to rural and remote areas has been a challenge over the last decade. Many preservice teachers are reluctant to experience a rural and remote practicum and may not consider applying to teach in such areas when they graduate. Education departments and universities need to explore innovative ways that will encourage graduates to consider undertaking a teaching position in the bush. As a way forward, preservice teachers from a regional campus of a Queensland University were invited to participate in a six-day rural experience entitled ‘Over the Hill’ that included being billeted with local families, participating in community activities and observing and teaching in classrooms. Fifteen preservice teachers were accompanied by two university academics who returned to work in a classroom as teacher for their own rural and remote professional experience. The aim of this qualitative study was to explore and describe the perceptions of a rural and remote teaching experience from the perspectives of the preservice teachers, the accompanying academics and the school staff hosting the program. Data were collected from the preservice teachers and accompanying academics in the form of written reflections while fourteen school staff completed a related questionnaire. The results indicated that a six-day rural and remote teaching program can provide professional benefits for all involved, preservice teachers, accompanying academics and the school staff hosting the program. Indeed, this study indicates that short experiences such as “Over the Hill” not only assist preservice teachers to make informed decisions about teaching in rural and remote areas but can provide professional benefits for accompanying academics and the schools.

If teams are so good.. : science teachers' conceptions of teams and teamwork

The focus of this study is the phenomenon of teams and teamwork. Currently the Professional Standards of Queensland’s teachers state that teams are critical to teachers’ work. This study uses a phenomenographic approach to investigate science teachers’ conceptions of teams and teamwork in the science departments of fifteen Queensland State secondary schools. The research identifies eight conceptions of teams and teamwork. The research findings suggest that the team represents a collective of science teachers bounded by the Science Department and their current timetabled subject. Collaboration was found in the study to be an activity that occurred between teachers in the same social space. The research recognises a new category of relationship between teachers, designated as ‘ask-and-receive’. The research identifies a lack of teamwork within the science department and the school. There appears to be no teaming with other subject departments. The research findings highlight the non-supportive team and teamwork policies, procedures and structures in the schools and identify the lack of recognition of the specialised skills of science teachers. The implications for the schools and science teachers are considerable, as the current Professional Standards of Education Queensland and the Queensland College of Teachers provide benchmarks of knowledge and practice of teams and teamwork for teachers. The research suggests that the professional standards relating to teams and teamwork cannot be achieved in the present school environment.

Why common factors in international bond returns are not so common

This paper analyzes the common factor structure of US, German, and Japanese Government bond returns. Unlike previous studies, we formally take into account the presence of country-specific factors when estimating common factors. We show that the classical approach of running a principal component analysis on a multi-country dataset of bond returns captures both local and common influences and therefore tends to pick too many factors. We conclude that US bond returns share only one common factor with German and Japanese bond returns. This single common factor is associated most notably with changes in the level of domestic term structures. We show that accounting for country-specific factors improves the performance of domestic and international hedging strategies.

Communicating with first year students ; so many channels but is anyone listening? A practice report

Communicating with first year students has become a far more complex prospect in the digital age. There is a lot of competition for limited attentional resources from media sources in almost endless channels. Getting important messages to students when there is so much competing information is a difficult prospect for academic and professional divisions of the university alike. Students’ preferences for these communication channels are not well understood and are constantly changing with the introduction of new technology. A first year group was surveyed about their use and preference for various sources of information. Students were generally positive about the use of social networking and other new online media but strongly preferred more established channels for official academic and administrative information. A discussion of the findings and recommendations follows.

"As ideias são mais importantes que os produtos", diz Paul Makeham" [Ideas are more important than products, says Paul Makeham]

This interview with Paul Makeham was conducted in 2010 by Felipe Carneiro from Brazilian business magazine Exame. Structured around Exame's "seven questions" format ("Sete Perguntas"), the interview ranges across topics relating to the creative economy, including the increasingly important role of creativity in business, and the role of education in promoting creativity.

"My friend was over the alcohol limit, so I asked him not to drive" : Young females intervening in alcohol-impaired driving

Potential to strengthen a commitment to intervene within a friendship group: – all knew the other passengers, – 3 in 4 discussed intervening with other passengers, – expectations of friends was a key predictive factor. - young women have potential and willingness to intervene in their friends’ drink driving behaviour - majority of campaigns and strategies to reduce alcohol related crashes target the driver however it is arguable that some strategies should target the young female passenger.

So far north

Short story