Global eT@axation : competing visions

The Organization for Economic Cooperation and Development (OECD) places the issue of taxation of cross-border e-commerce transaction as one of its top four projects for investigation. In January 2001, some member countries agreed to a series of guidelines on how to apply existing tax treaties to Web transactions. After discussing potential threats and challenges facing etax administrators and possible solutions, the researchers report on the global momentum towards Extranets for collaborative knowledge management. Previous research indicated a need for a global etaxation Extranet for knowledge management based on the principles of the Cochrane Collaboration in the health sciences. These preliminary findings have been strengthened by parallel moves by the International Organization for Standardization (ISO) in setting up a global Extranet. The global imperative for harmonization of Internet commerce tax initiatives is reflected in contemporary interest in Europe in the redefinition of business requirements and processes related to corporate tax obligations.

Internet commerce : digital models for business

This edition has been revised to reflect the latest developments in this rapidly changing area. Theory is supported by examples drawn from industry developments, regulatory policies and government initiatives. All chapters feature Australian and international examples of policy reform and innovation.

Estimating the changes in energy flux that characterize the rise in obesity prevalence

Background: The daily energy imbalance gap associated with the current population weight gain in the obesity epidemic is relatively small. However, the substantially higher body weights of populations that have accumulated over several years are associated with a substantially higher total energy expenditure (TEE) and total energy intake (TEI), or energy flux (EnFlux = TEE = TEI).
Objective: The objective was to develop an equation relating EnFlux to body weight in adults for estimating the rise in EnFlux associated with the obesity epidemic.
Design: Multicenter, cross-sectional data for TEE from doubly labeled water studies in 1399 adults aged 5.9 ± 18.8 y (mean ± SD) were analyzed in linear regression models with natural log (ln) weight as the dependent variable and ln EnFlux as the independent variable, adjusted for height, age, and sex. These equations were compared with those for children and applied to population trends in weight gain.
Results: ln EnFlux was positively related to ln weight (β = 0.71; 95% CI: 0.66, 0.76; R2 = 0.52), adjusted for height, age, and sex. This slope was significantly steeper than that previously described for children (β = 0.45; 95% CI: 0.38, 0.51).
Conclusions: This relation suggests that substantial increases in TEI have driven the increases in body weight over the past 3 decades. Adults have a higher proportional weight gain than children for the same proportional increase in energy intake, mostly because of a higher fat content of the weight being gained. The obesity epidemic will not be reversed without large reductions in energy intake, increases in physical activity, or both.

Audit quality, auditor compensation and initial public offering underpricing

We jointly study the impact of audit quality on auditor compensation and initial public offering (IPO) underpricing using a sample of Australian firms going public over the period 1996–2003. We find that quality (Big Four) audit firms earn significantly higher fees than non-Big Four auditors, and audit quality is positively associated with IPO underpricing. The positive relation between audit quality and underpricing is more pronounced for small issues, IPOs underwritten by non-prestigious underwriters, and those that are not backed by venture capitalists. Taken together, our results suggest that quality auditors serve as a signalling device that enhances post-issue market value of equity.

Regional trade agreements : performance evaluation and research agenda

This paper proposes a broad model for key success factors in Regional Trade Agreements (RTAs). Current literature is relatively limited in its focus on largely economic consequences of RTAs and the externalities are mostly ignored. This model incorporates five predictor dimensions forming the character of a RTA as follows: (1) Economic, (2) Socio-Cultural, (3) Negotiation, (4) Country Objectives and (5) Review process. It proposes a methodology for the empirical testing of the proposed model. The proposed model, potentially, facilitates the measurement of the character of a RTA and its association with various RTA objectives.

Clinical effectiveness of barrier preparations in the prevention and treatment of nappy dermatitis in infants and preschool children of nappy age

Nappy dermatitis is a broad term used to describe an acute inflammatory reaction of the skin in the nappy area because of irritation from urine, faeces, moisture or friction. The prevalence is estimated to be between 7% and 35% in infants. Regular application of a barrier preparation at every nappy change may be a valuable component of nappy dermatitis prevention and/or treatment.