Intelligent decision support for family financial planning

In today’s financial markets characterized by constantly changing tax laws and increasingly complex transactions, the demand for family financial planning (FFP) services is rising dramatically. However, the current trend to develop advisory systems that focus mainly on the financial or investment side fails to consider the whole picture of FFP. Separating financial or investment advice from legal and accounting advice may result in conflicting advice or important omissions that could lead to users suffering financial loss. In this paper, we propose a conceptual model for FFP decision-making process, followed by a novel architecture to support an aggregated FFP decision process by utilizing intelligentagents and Web-services technology. A prototype system for supporting FFP decision is presented to demonstrate the advances of the proposed Web-service multi-agentsbased system architecture and business value.

The impact of target board recommendations in Australian takeovers

This paper examines the impact of targe board recommendations on the probability of the bid being successful in the Australian takeovers context. Specifically, we model the success rate of the bid as a binary dependent variable and target board recommendations or the board hostility as our key independent variable by using logistic regression framework. Our model also includes bid structures and conditions variables (such as initial bid premium, bid conditions, toehold, and interlocking relationship) and bid events (such as panel and bid duration) as our control variables. Overall, we find board hostility has statistically significant negative effect on the success rate of the bid and almost all control variables (except for the initial bid premium) are statistically significant with the correct sign. That is, we find toehold, the percentage of share required to make the bid becomes successful, and the unconditional bid have positive impact on the success rate of the bid, at least as predictive determinants prior to the release of any hostile recommendation. Consistent with Craswell (2004), we also find the negative relation between interlocking relationship and the success rate of the bid. Our finding supports that from target investors’ point of view, interlock is consistent with the negative story of self interest by directors. Finally, like Walking (1985), we find that the initial bid premium does not have influence on the success rate of the bid. Hence our results reinstate Walking’s bid premium puzzle in Australian context.

Warehouse, PNG Coffee Industry Board Office and Warehouse, Goroka

View of exterior wall to warehouse.

Downpipes, PNG Coffee Industry Board Office and Warehouse, Goroka

Detailed view of downpipes and drainage grill.

PNG Coffee Industry Board Office and Warehouse, Goroka

View past tiered amphitheatre and offices above to air strip beyond.

View along western elevation, PNG Coffee Industry Board Office and Warehouse, Goroka

View past timber blinds to balcony and timber sunscreens.

Under construction, PNG Coffee Industry Board Office and Warehouse, Goroka

View of post being hoisted into position during construction.

Warehouse, PNG Coffee Industry Board Office and Warehouse, Goroka

View of warehouse exterior.

Pole detail, PNG Coffee Industry Board Office and Warehouse, Goroka

Detailed view of poles used in construction. Poles were spliced in their length with steel bars (like 3 pin plugs) and these joints were restrained from splitting with steel strap belts. The belts were tightened with opposing wedges like the old Greene & Greene wrought iron detail.

Warehouse, PNG Coffee Industry Board Office and Warehouse, Goroka

View of warehouse exterior.

Roof structure, internal, PNG Coffee Industry Board Office and Warehouse, Goroka

View to underside of roof with steel beam and insulation.

Post and beam connection, PNG Coffee Industry Board Office and Warehouse, Goroka

Detailed view of cast iron brackets connecting beams and posts.

Front elevation, PNG Coffee Industry Board Office and Warehouse, Goroka

View of front elevation with entrance from exterior.