Returns from investing in Australian equity superannuation funds, 1991-1999

In this analysis of investment manager performance, two questions are addressed. First, do managers that actively trade stocks create value for investors? Second, can the multifactor model of Gruber capture the cross-section of average fund returns for the Australian setting? The answers from this study are as follows: as an industry, investment managers destroyed value for superannuation investors for the period 1991 through 1999, under-performing passive portfolio returns by 2.80-4.00 per cent per annum on a risk-unadjusted basis and 0.50-0.93 per cent per annum on a risk-adjusted basis. Evidence is provided in support of the four-factor model of Gruber; however, the model fails to capture the impact of investment style for the Australian setting. The findings suggest that Australian superannuation investors would transform their retirement savings into retirement income more efficiently through the use of passive alternatives to the stock selection problem.

Seclusion use with children and adolescents: an Australian experience

Objective: To summarize the current state of knowledge on the use of seclusion and restraint with children and adolescents and to report the findings of an exploratory study to identify factors that place a child or adolescent at increased risk of seclusion during their admission. Method: Literature searches were undertaken on MEDLINE, CINAHL and PsycINFO databases. Articles were identified that focused specifically on seclusion and restraint use with children and adolescents or contained material significant to this population. The study reports findings from a retrospective review of patient charts, seclusion registers and staffing from an Australian acute inpatient facility. Results: The data available in regard to seclusion use in this population is limited and flawed. Further research is needed on the use and outcomes of seclusion and restraint and on alternative measures in the containment of dangerousness. Both the literature and this study find that patients with certain factors are at increased risk of being secluded during an inpatient stay. These factors include being male, diagnoses of disruptive behaviour disorder and a previous history of physical abuse. Staffing factors did not show a relationship to the use of seclusion. Conclusions: There are patient factors that predict increased risk of seclusion; these factors and their interrelationships require further elucidation. Further research is also needed on the outcomes, both positive and negative, of seclusion use and of alternatives to seclusion.

Beliefs and practices of patients with advanced cancer: implications for communication

The aim of this study was to investigate the beliefs that patients with advanced cancer held about the curability of their cancer, their use of alternatives to conventional medical treatment, and their need to have control over decisions about treatment. Of 149 patients who fulfilled the criteria for participation and completed a self-administered questionnaire, 45 patients (31%) believed their cancer was incurable, 61 (42%) were uncertain and 39 (27%) believed their cancer was curable. The index of need for control over treatment decisions was low in 53 patients (35.6%) and high in only 17 patients (11.4%). Committed users of alternatives to conventional medical treatments were more likely to believe that their cancer was curable (P

Growth performance and management of a mixed rainforest tree plantation

Monoculture plantations of Pinus, Eucalyptus and Acacia have been established oil rainforest lands throughout the world. However, this type of reforestation generally supplies low quality timber and contributes to landscape simplification. Alternatives to exotic monoculture plantations are now beginning to gain momentum with farmers and landholders attempting to establish a variety of rainforest trees in small plantations. When compared to the well studied commercial species, knowledge concerning the growth and management of many of these rainforest species is in its infancy. To help expand this limited knowledge base an experimental plantation of 16 rainforest tree species in a randomised design was established near Mt. Mee, in south-eastern Queensland, Australia. Changes in growth, form (based on stem straightness, branch size and branchiness), crown diameters and leaf area of each species were examined over 5 years. Patterns of height growth were also measured monthly for 31 months. Species in this trial could be separated into three groups based on their overall growth after 5 years and their growth patterns. Early successional status, low timber density, high maximum photosynthetic rates and large total leaf areas were generally correlated to rapid height growth. Several species (including Araucaria cunninghamii, Elaeocarpus grandis, Flindersia brayleyana, Grevillea robusta and Khaya nyasica) had above average form and growth, while all species in the trial had considerable potential to have increased productivity through tree selection. As canopy closure occurred at the site between years four and five, growth increments declined. To reduce stand competition a number of different thinning techniques could be employed. However, simple geometric or productivity based thinnings appear to be inappropriate management techniques for this mixed species stand as they would either remove many of the best performing trees or nearly half the species in the trial. Alternatively, a form based thinning would maintain the site's diversity, increase the average form of the plantation and provide some productivity benefits.

OHS in the nursing workplace: accountability and the management of stress

There has been growing interest in occupational stress in the nursing context, both in New Zealand and internationally. This article takes a critical approach to the literature on nursing stress by examining the implications of a body of research largely informed by a theoretical approach which highlights the individual. In spite of evidence that the main sources of stress for nurses are related to workplace conditions, the focus is on the individual nurse and his/her personal response to stress. This approach encourages the development of interventions where the objectives are the individual management of stress, and thereby consolidates nurses' perceptions of powerlessness. Alternatives to these palliative measures, such as highlighting the legal obligations for employers to provide a safe workplace or collective industrial action for change, are glaringly absent in the literature. The importance of such an approach is supported by recent findings from the United States on the advantages of hospitals which promote nurses' autonomy and control.

Postharvest characteristics and handling of litchi fruit - an overview

Litchi ( Litchi chinensis Sonn.) is a tropical to subtropical crop that originated in South-East Asia. Litchi fruit are prized on the world market for their flavour, semi-translucent white aril and attractive red skin. Litchi is now grown commercially in many countries and production in Australia, China, Israel, South Africa and Thailand has expanded markedly in recent years. Increased production has made significant contributions to economic development in these countries, especially those in South-East Asia. Non-climacteric litchi fruit are harvested at their visual and organoleptic optimum. They are highly perishable and, consequently, have a short life that limits marketability and potential expansion of demand. Pericarp browning and pathological decay are common and important defects of harvested litchi fruit. Postharvest technologies have been developed to reduce these defects. These technologies involve cooling and heating the fruit, use of various packages and packaging materials and the application of fungicides and other chemicals. Through the use of fungicides and refrigeration, litchi fruit have a storage life of about 30 days. However, when they are removed from storage, their shelf life at ambient temperature is very short due to pericarp browning and fruit rotting. Low temperature acclimation or use of chitsoan as a coating can extend the shelf life. Sulfur dioxide fumigation effectively reduces pericarp browning, but approval from Europe, Australia and Japan for this chemical is likely to be withdrawn due to concerns over sulfur residues in fumigated fruit. Thus, sulfur-free postharvest treatments that maintain fruit skin colour are increasingly important. Alternatives to SO2 fumigation for control of pericarp browning and fruit rotting are pre-storage pathogen management, anoxia treatment, and dipping in 2% hydrogen chloride solution for 6-8 min following storage at 0 degrees C. Insect disinfestation has become increasingly important for the expansion of export markets because of quarantine issues associated with some fruit fly species. Thus, effective disinfestation protocols need to be developed. Heat treatment has shown promise as a quarantine technology, but it injures pericarp tissue and results in skin browning. However, heat treatment can be combined with an acid dip treatment that inhibits browning. Therefore, the primary aim of postharvest litchi research remains the achievement of highly coloured fruit which is free of pests and disease. Future research should focus on disease control before harvest, combined acid and heat treatments after harvest and careful temperature management during storage and transport.

Feasibility of controlling nitrification in predenitrification plants using DO, pH and ORP sensors

Experimental studies were carried out on a bench-scale nitrogen removal system with a predenitrification configuration to gain insights into the spatial and temporal variations of DO, pH and ORP in such systems. It is demonstrated that these signals correlate strongly with the operational states of the system, and could therefore be used as system performance indicators. The DO concentration in the first aerobic zone, when receiving constant aeration, and the net pH change between the last and first aerobic zones display strong correlations with the influent ammonia concentration for the domestic wastewater used in this study. The pH profile along the aerobic zones gives good indication on the extent of nitrification. The experimental results also showed a good correlation between ORP values in the last aerobic zone and effluent ammonia and nitrate concentrations, provided that DO in this zone is controlled at a constant level. These results suggest that the DO, pH and ORP sensors could potentially be used as alternatives to the on-line nutrient sensors for the control of continuous systems. An idea of using a fuzzy inference system to make an integrated use of these signals for on-line aeration control is presented and demonstrated on the bench-scale system with promising results. The use of these sensors has to date only been demonstrated in intermittent systems, such as sequencing batch reactor systems.

Teaching economic philosophy: Economics, ethics and the search for the right maximand

Economic philosophy is not often taught, and is not necessarily easily taught. It involves enquiry into implicit assumptions within orthodox economics and within alternatives to it. It seeks to highlight why it is that some critics object that neoclassical economics is too atomistic, hedonistic, and rationalistic, or why others lament that there is much hidden metaphysics in Friedman and his Chicago School colleagues. It addresses the issue of whether - in a reversal of the view that economics is the imperialistic social science - significant philosophical assumptions have been silently but inescapably imported into orthodox economics. This paper seeks to facilitate the presentation of such material with illustrations selected from social economics, development economics, and critiques of utilitarianism.