An examination of the organisational commitment of financial planners

This paper sets out to determine whether the demographic variables of age, gender, length of service can be shown to be related to the organisational commitment (OC) of financial planners in Australia. The financial planners were surveyed using an instrument derived from established questionnaires. It was mailed nationally to 312 financial planners. A response rate of 36% was achieved, equating to 113 useable responses. The analyses revealed statistically significant results at the 95% confidence level (p=0.05), that female respondents demonstrated a statistically significant higher level of OC than did their male counterparts.Such findings contribute to our understanding of the organisational commitment of Financial Planners, and have implications for employers in terms of hiring and retention of employees. The analyses are also important from a public policy perspective in an era of increasing attention given to, and likely increased regulation of, the financial planning industry.

Professional commitment of financial planners in Australia: an examination

The purpose of this paper is to examine the demographic variables of age and gender in conjunction with three independent variables: Internal versus external locus of control personality dimension, individualist versus collectivist personality dimension, and perceived environmental uncertainty and to relate same to the professional commitment (PC) of financial planners in Australia. A questionnaire was used to survey a sample of 312 financial planners nationally, with a 36% response rate and statistically significant results. At the 95% confidence level (p=0.05) respondents over the age of 35 demonstrated no difference between their levels of professional commitment than did those under the age of 35, while at the same level of confidence, females demonstrated no statistically significant difference in their level of PC than did their male counterparts. Respondents with an external locus of control displayed lower levels of PC (p=0.05), than those with an internal locus of control but these were not statistically significant. These findings contribute to our understanding of the professional commitment of financial planners, and are important from a public policy perspective in an era of increasing attention to, and likely increased regulation of, the financial planning industry.

Recounting a difficult past : a South African accounting firm's "experiences in transformation"

This article examines the role of oral history in the social construction of collective memory and forgetting. The article presents a case study of a South African public accounting firm's attempt to document the history of race relations within the firm through the publication of a collection of oral histories. The research draws from the sociology of memory and recent scholarship on individual and collective memory in South Africa to analyze the firm's account of its experiences in making the transition from Apartheid to a multiracial democracy. The analysis finds that the firm's portrayal of its history reflects a narrative of reconciliation and redemption that minimizes the deep social and economic divisions that characterize South Africa's past, their relevance to accounting history, and the continuing salience of race to employment in public accounting.

The effectiveness of seminars in educating adults in financial literacy

In Australia, financial literacy is not given prominence within the education system, and it is a general view that financial literacy is gained through ‘hands on’ experience in earning and spending money; further, financial education seems to occur only when people take a loan or experience financial difficulties (Hajaj, 2002). This is not sufficient if people need to make informed decisions about their investments and, because of a number of social factors, it has become necessary to educate the majority of the adult population in Australia in Financial Literacy over a relatively short period of time. Given the large numbers requiring such an education, the seminar approach is being widely used, however is it effective? Drawing on the adult education literature, this study examined the effectiveness of the seminar approach by surveying adult participants in a Financial Literacy seminar. The survey found that while a majority of participants (50%) expressed none or weak financial knowledge prior to attending the seminar and 45% expressed that they only had a moderate rate of financial knowledge, a majority of 63% strongly agreed or agreed to the seminar improving their knowledge of the need for retirement savings. Furthermore, 58% of participants were either confident or very confident of being able to apply what they learned in the seminar to achieving their retirement savings goal. These findings suggest that the seminar approach was effective in educating adults and improved their level of financial literacy. Future research could investigate whether the level of financial knowledge gained during the seminar is retained over a considerable period of time.

Financial planners in Australia : an examination of loyalty

The purpose of this paper is to determine whether the demographic variables of age, gender and length of service, and the levels of the three independent variables of internal versus external locus of control personality dimension, individualist versus collectivist personality dimension, and perceived environmental uncertainty can be shown to be related to the organisational commitment (OC) and professional commitment (PC) of financial planners in Australia. The financial planners employed by one major Australian bank, during the period November to December, 2004 were surveyed using an instrument derived from established questionnaires. It was mailed nationally to 312 financial planners. A response rate of 36% was achieved, equating to 113 useable responses. The analyses revealed no statistically significant results at the 95% confidence level (p=0.05), that the level of OC and PC for respondents over the age of 35 differed from those under the age of 35. At the same level of confidence, females demonstrated a statistically significant higher level of OC than did their male counterparts, however there was no difference between their levels of PC. Financial planners employed for a period of over 3 years showed no difference in their levels of OC or PC than those employed for a period of less than 3 years (p=0.05). Respondents with an external locus of control displayed  statistically significant lower levels of OC than those with an internal locus of control, however there was no difference between these groups in their levels of PC (p=0.05). Such findings contribute to our understanding of the organisational and professional commitment of financial planners, and have implications for employers in terms of hiring and retention of employees. The analyses are also important from a public policy perspective in an era of increasing attention to, and likely increased regulation of, the financial planning industry.

Adiponectin in umbillcal cord blood is inversely related to low-density lipoprotein cholesteril but not ethnicity

Context: Adiponectin is a recognized protective risk marker for cardiovascular disease in adults and is associated with an optimal lipid profile. The role of adiponectin at birth is not well understood, and its relationship with the neonatal lipid profile is unknown. Because ethnic disparities in cardiovascular risk have been attributed to low adiponectin and its associated low high-density lipoprotein cholesterol (HDL-C), investigation at birth may help determine the etiology of these risk patterns.

Objective: Our objective was to investigate the relationship between neonatal adiponectin and lipid profile at birth in two ethnic groups in cord blood.

Design, Setting, and Participants: Seventy-four healthy mothers and their newborns of South Asian and White European origin were studied in this cross-sectional study at St. Mary’s Hospital, Manchester, United Kingdom.

Main Outcome Measures: Serum adiponectin, total cholesterol, HDL-C, low-density lipoprotein cholesterol (LDL-C), and triglyceride levels were measured in umbilical venous blood at birth and in maternal blood collected at 28 wk gestation.

Results: Cord adiponectin was significantly inversely associated with cord LDL-C (r = –0.32; P = 0.005) but not HDL-C. In a multiple regression analysis, cord LDL-C remained the most significant association of cord adiponectin (ß = –0.13; P < 0.001). We did not find any significant ethnic differences in cord adiponectin or lipids with the exception of triglycerides, which were significantly lower in South Asian newborns (P < 0.05).

Conclusion: This is the first report of an inverse relationship between cord adiponectin and LDL-C at birth. In contrast to adult studies, we found no significant association between adiponectin and HDL-C in cord blood. Our results and the strong independent association between adiponectin and HDL-C observed in adult studies suggest a role for adiponectin in lipid metabolism. Ethnic differences in adiponectin may arise after birth.

Emerging futures : innovation in teaching and learning in VET

This report on Innovation in Teaching and Learning in the vocational education and training (VET) sector demonstrates that pressures for change are flowing with increasing force into teaching and learning practice within VET. As a consequence of this ongoing change, wider, deeper and more frequent innovation is now needed in VET teaching and learning practices. However, this report shows that there are good grounds for optimism about the quality and scope of current innovation in teaching and learning practices in VET. The particular and local instances of practitioner innovation found in the research for this project serve as a reminder of the many different ways in which VET practitioners are knowledgeable and innovative. Positive futures for VET are emerging, as a result of this practitioner innovation. A literature review, interviews, focus groups and case study research inform the key findings.

Introductory computer programming as a means for extending spatial and temporal understanding

Should computer programming be taught within schools of architecture?

Incorporating even low-level computer programming within architectural education curricula is a matter of debate but we have found it useful to do so for two reasons: as an introduction or at least a consolidation of the realm of descriptive geometry and in providing an environment for experimenting in morphological time-based change.

Mathematics and descriptive geometry formed a significant proportion of architectural education until the end of the 19th century. This proportion has declined in contemporary curricula, possibly at some cost for despite major advances in automated manufacture, Cartesian measurement is still the principal ‘language’ with which to describe building for construction purposes. When computer programming is used as a platform for instruction in logic and spatial representation, the waning interest in mathematics as a basis for spatial description can be readdressed using a left-field approach. Students gain insights into topology, Cartesian space and morphology through programmatic form finding, as opposed to through direct manipulation.

In this context, it matters to the architect-programmer how the program operates more than what it does. This paper describes an assignment where students are given a figurative conceptual space comprising the three Cartesian axes with a cube at its centre. Six Phileban solids mark the Cartesian axial limits to the space. Any point in this space represents a hybrid of one, two or three transformations from the central cube towards the various Phileban solids. Students are asked to predict the topological and morphological outcomes of the operations. Through programming, they become aware of morphogenesis and hybridisation. Here we articulate the hypothesis above and report on the outcome from a student group, whose work reveals wider learning opportunities for architecture students in computer programming than conventionally assumed.

Overcoming barriers: black African chartered accountants in 1990s South Africa

This paper examines the experiences of black Africans in South Africa who became Chartered Accountants in the 1990s. Building on previous work on marginalized groups within the accounting profession, the study relies on interviews with 22 of those who overcame steep educational, economic, racial, cultural, and political obstacles to join a profession that had fewer than 1% black Africans as members. The interviews indicate that those black Africans who did manage to become CAs in the 1990s shared many common characteristics and experiences. They and their families placed a high value on education and made tremendous sacrifices to meet the requirements to earn the CA certification. Many overcame extreme poverty in their childhoods and attended poorly equipped schools. All were exceptionally accomplished academically, most qualifying for scholarships offered only to the very top black African students in the country. Most faced educational disruptions due to boycotts and political protests that shut down schools and many black universities in the years immediately prior to the bringing down of the apartheid regime. All faced racial discrimination in housing and education. Few had ever met a chartered accountant before enrolling in university; many had never heard of the certification until that point. In the 1990s when they entered some of the major firms to meet their training requirements, they were typically not given the same opportunities as their white peers. Now that they have become Chartered Accountants, and the government has changed and instituted affirmative action policies, most find that they are often offered jobs outside of public accounting. Still only composing about one percent of all chartered accountants, in a country that is 75% black African, most believed that the main road towards overcoming this disparity is through radical efforts to equalize educational opportunities in South Africa across racial lines. Most make professional decisions based at least in part on the opportunities a given position offers towards contributing to the black community.

Markers of inflammation in South Asian and European infants from birth to 2 years in Manchester, UK

Inflammatory markers, including serum C-reactive protein (CRP), are predictors of coronary heart disease (CHD) in adults. South Asians in the UK have higher rates of CHD in adulthood than national rates.We tested the hypotheses that South Asian infants would have higher serum concentrations of CRP and homocysteine than European infants up to 2 years of age and that higher infant weight is associated with elevation of inflammatory markers. Infants of South Asian and European origin were investigated in a mixed cross sectional-longitudinal cohort study. Mothers were recruited ante-natally from St Mary’s Hospital,Manchester by postal invitation and telephone call to non-responders. Infants with metabolic or congenital abnormalities, known syndromes or pre-maturity were excluded. Measurements were collected at birth and either 3, 6, 12 or 24 months. High sensitivity CRP and homocysteine were measured by an immulite immunoassay. We used mixed linear modelling to assess whether infant weight, ethnicity, length of follow-up or their interaction were associated with inflammatory makers in infants during follow-up. Data are presented on 306 infants (109 South Asian and 197 European). We found that European infants had higher serum CRP than South Asian infants during follow-up which was of borderline significance.There was no difference in serum homocysteine between ethnic groups during followup and no significant interaction between ethnicity and follow-up. Infant weight was significantly associated with CRP but not homocysteine. In this ongoing longitudinal study,we found little difference in inflammatory markers in infants from birth to 2 years despite markedly higher rates of CHD in South Asian than European adults. Life course exposure to risk factors may play a more dominant role in the development of CHD.

Job satisfaction among financial planners in Australia

Purpose - Job satisfaction has been the subject of a considerable body of research. In this study, the authors examine job satisfaction among financial planners in Australia, a relatively new profession which has been the subject of very little research.

Method/Approach - A national survey of financial planners was conducted, using a sample of convenience drawn from websites of two large organisations in the financial and insurance industry employing, or having agency agreements with, financial planners. A job satisfaction questionnaire designed for Australian conditions was used.

Findings - Based on a literature review, hypotheses were examined regarding the relationship between job satisfaction and age, job tenure, gender and type of employing organisation, and between job satisfaction and motivation. Results of this survey indicated little correlation between job satisfaction and age, gender, tenure or type of employing organisation. On the other hand, a positive relationship between job satisfaction and motivation was evident.

Practical implications – Respondents comments helped elucidate reasons for financial planner’s job satisfaction or dissatisfaction. Observations provided indicators that may help management nurture a positive job response among employees.

Value of this paper – Practically, this paper contributes to an underdeveloped area of research. It highlights scope for future research in two particular fields. Firstly, in-depth case studies to explore more thoroughly issues of job satisfaction and dissatisfaction. Secondly, with access to a larger number of employed financial planners a comparative study between those and self-employed financial planners on the subject of job satisfaction may enlighten managers and the profession generally.

Into the protecting arms: the League of Nations and the extension of international assistance to unprotected persons in the Middle East and Europe, 1926 - 1928

The refugee dilemma in Europe in the years between the two world wars had a number of aspects: humanitarian, political, and diplomatic. It raised questions of migration, questions of international law, and questions of the fate of hundreds of thousands of individuals. Refugees were visible from the very last days of the war and remained a matter of serious international concern even beyond the outbreak of war again in September 1939. The refugee dilemma in Europe was, firstly, a humanitarian crisis because the size of the refugee population was without precedent. It was also a political problem because national governments had to contend with questions about the refugees' legal status and their legitimacy under national and international law, as well as balance humanitarian concerns with national political interests. The humanitarian and political aspects together created a crisis for the international community newly united in the League of Nations. One of its first great acts-to take these refugees into its protective care-was not even prescribed for it in its Covenant. But the refugee crisis facing Europe was so great that member states were united in the belief that the League had been established precisely to undertake a task of this kind.