National and international financial reporting standard convergence and the relevance for non-participants in capital markets : a preparer perspective

This study presents some implications of recent policy moves to enhance the harmonization of financial reporting and disclosure by adopting international financial reporting standards. In particular the impact on small organizations that do not participate in capital markets is considered. The results of a survey of practitioners indicate a perception that the non-capital market sector is likely to be significantly affected by additional reporting burden that convergence with international financial reporting standards imposes. On the whole the results show there was concern that the traditional users of the financial reports of organizations who do not participate in capital markets, would have limited if any, use for financial reports that conformed to international financial reporting standards, The results of this study have implications for nations such as Malaysia and New Zealand, which are currently engaging in the differential reporting debate.

Mobility and vision for mobile robots in non-deterministic, competitive environments

Develops an award winning design for an omnidirectional mobile robot that is both lightweight and extremely maneuverable. Two methods of robot vision, one using rotating lasers and a second using color video cameras were also developed and the merits of both explored.

Competitive and cooperative behavior in embedded markets: developing an institutional perspective on bazaars

In an ethnographic study of a retail setting, we examine relationships among competitors. We find that competitors often emphasize various forms of cooperation, and we describe socio-economic behaviors that illustrate how cooperation transcends or mediates competition among retailers. Retailers selectively cooperate and compete for customers in ways that alter our understandings of concepts such as loyalty and market stability, and practices such as marketing communications and pricing. We highlight the significance of these institutional practices and the role they play in forming and maintaining community in a bazaar.

Transitional labour markets : a social investment and risk mitigation strategy for social policy

Drawing on transitional labor market (TLM) theory, this introductory chapter highlights major themes, overviews the contributions to this volume and suggests a future agenda for policy makers. The focus of applied research projects has been the impact of post-modem social transformations on systems of social protection, looking through the lens of the labor market and shifts in household and family structure. The Transitional Labor Market project uses the TLM model as a means of developing new thinking on how flexibility and innovation might be paired with social investment and new forms of social protection. TLM theory emphasizes the importance of institutions and of the links between different institutions which frequently operate as policy silos, rather than integrated systems to buffer risks and support capability and enhance employability. The great advantage of the TLM model is that it draws attention to the right places for strategic reform. It does not offer a standard set of institutions to facilitate transitions however.

Career progression, human capital and pay equity in Australian public sector labour markets

This study uses data from the Victorian Public Sector Census 2004 to identify the extent of equity in pay and career progression (promotion). A system of three equations is developed to capture the endogeneity between human capital and promotion and the interdependence between promotion, pay and human capital. The results indicate that there are substantial differences in the average wages earned by public sector employees in different Equal Employment Opportunity (EEO) groups. While some of these differences arise from factors beyond the control of the public sector employers, others arise from bias in the public sector employment system and procedures. The earnings of individual employees in the public sector are determined in a systematic way by the wage structures in the different sub-sectors, the skill base of the employee on recruitment, sub-sector specific promotion rates, acquisition of formal and informal training and the apparent bias within recruitment and promotion systems in dealing with particular groups. The apparent bias of recruitment and promotion systems is complex in makeup and varies within EEO groups as well as between EEO groups. Most of the difference in pay across employees can be explained as an outcome of individual choice and labour market conditions external to the public sector. After adjusting for sectoral wage differences, skill base when recruited, sectoral promotion rate differences, experience in the public sector, whether individuals are employed on a full-time or part-time basis and individual training decisions, the statistical evidence is consistent with the finding that public sector recruitment and promotion systems tends to be biased, on average, against females and those from culturally diverse backgrounds. Achievements in formal education are important for salary progression. This is particularly the case for women. The main drivers of participation in formal education were employer support in both financial and non-financial terms. Promotion rates were important factors in explaining wage differences. Women tended to receive slightly fewer promotions than men, but women received, on average, greater rewards for each promotion.

Speed of adjustment within currency markets

One measure of market efficiency is the speed at which prices adjust to fundamental value with the arrival of information. This paper examines this issue by estimating speed of adjustment coefficients using three  methodologies for eight currencies for the entire year of 1996 using half hourly non-overlapping return intervals. We find that the bulk of adjustment to fundamental value for all currencies occurs within the hour but then quickly deteriorates. Within the hour adjustment is sufficiently quick to be considered efficient but the lack of full adjustment to fundamental value is not what would be predicted within an efficient market. There is no evidence for any of the currencies studied of a tendency to over react. There is also little difference in the speeds of adjustment between actively and less actively traded  currencies. There is however a definite difference in the speed at which currencies adjustment depending on whether they are free floating or managed exchange rates. Free floating rates adjust much quicker. Government intervention slows adjustment to fundamental value.

Competitive sorbtion of metals in water repellent soils: implications for irrigation recycled water

Australia is a water-stressed nation and demand on potable water supply is increasing. Consequently water conservation and reuse are increasingly becoming important. Irrigation of recycled wastewater on water repellent soils is a technology that is being trialled as a means of improving crop production and conserving potable supply. However, recycled water contains potentially harmful heavy metals. This paper reports the competitive sorption and desorption of several common heavy metals found in soils collected from a farm located in the south-east of South Australia. The soil from this location is severely water repellent, but some sites were amended with kaolinite clay (Si₄Al₄O₁₀(OH)₈) about 7 and 15 years ago. The metals studied were Cu, Pb, Cd, Cr, Ni, and Zn. Competitive sorption of the metals was distinctly observed. For all heavy metals, the quantity of metal sorbed was higher in amended soil, and there was a strong correlation between the specific sorption to total sorption ratio and the amount of clay in the soil. The sorption intensities varied with metal, Cr, Pb, and Cu having a high sorption tendencies and Zn, Cd, and Ni having comparatively low sorption tendencies. The total sorption capacity for all metals increased in clay-treated soils compared with non-treated soils. On average, clay-amended water repellent soils had a 20–40% increased capacity to adsorb total metals; however, this increase was largely caused by the increased capacities to adsorb Zn, Cd, and Ni. The effect of clay treatment largely enhanced the sorption capacity of relatively weakly adsorbing heavy metals. The implications for using recycled wastewater on the long-term sustainable agro-environmental management of these soils are discussed.

Competition in mature software markets

A theoretical framework is built for capturing properties of competition in mature monopolistic digital product markets. Based on an empirical study of the market of accounting software for small and medium enterprises, a consumer choice model is suggested, where a rational consumer is already using a particular version of a software package and is considering to chose from the following three options: either to continue using it, or to upgrade to a newer version of the product, or to switch to a competitive product. Consumer decision is justified by software quality, and network effects, under the price and switching costs constrains. A modified consumer demand function is used for the model, and theoretical conditions are analysed for choosing from one of the three above-mentioned options. The results are applicable to a wide range of digital products.

Customer relationship management in banks with special reference to Bangladesh

Customer-banker relational behavior is dynamic and fast-changing and better interpersonal relationships tend to be characterized by their quality. Banks in Bangladesh are functioning increasingly under the competitive pressures originating from the banking system from non-banking institutions as well as from the domestic and international capital markets. In order to expand banking business, as well as sustain it in the long run, it has now become essential for banks to focus on developing long-term relationships with their customers. One facet of the efficient management of banks is the matching of customers' needs and banking products. Banks, when creating new products, should take into consideration their customers' needs informed by market research programs. In this paper we examine whether banking products in Bangladesh address customers' needs.

Convergence among the sub-markets in Australian regional building and construction sector

Studies on market convergence are well considered in the literature. However, the majority of the previous research focused on housing markets and few studies have concentrated on construction markets. Owing to a simultaneously dramatic increase in the construction prices of the sub-markets in the building construction sector in Australia, this paper aims to identify the convergence among these markets, involving house construction market, other-residential building construction market, and non-residential building construction market. To achieve it the Granger causality test and generalized response function depending on the vector error correction model with the quarterly data of Australia’s eight states from 1998 to 2010 will be applied. Based upon the econometric tests, the price diffusion patterns among these construction markets have been identified. Research on the convergences of construction markets not only helps construction firms perform well in business operations and arbitrage activities, but also provides policy makers with useful information for enacting effective construction policies for national perspectives and approaches to infrastructure planning.

Quantifying urbanisation as a risk factor for non-communicable disease

Aim of this study was to investigate the poorly understood relationship between the process of urbanization and non-communicable diseases (NCDs) in Sri Lanka using a multi-component, quantitative measure of urbanicity.

NCD prevalence data were taken from the Sri Lankan Diabetes and Cardiovascular Study comprising a representative sample of people from seven of the nine provinces in Sri Lanka (n=4,485/5,000; response rate=89.7%). We constructed a measure of the urban environment for seven areas using a seven-item scale based on data from study clusters to develop an ―urbanicity” scale. The items were population size, population density, and access to markets, transportation, communications/media, economic factors, environment/sanitation, health, education, and housing quality. Linear and logistic regression models were constructed to examine the relationship between urbanicity and chronic disease risk factors.

Among men, urbanicity was positively associated with physical inactivity (OR: 3.22; 2.27 – 4.57), high body mass index (OR: 2.45; 95% CI: 1.88 – 3.20) and diabetes mellitus (OR: 2.44; 95% CI: 1.66 – 3.57). Among women, too, urbanicity was positively associated with physical inactivity (OR: 2.29; 95% CI: 1.64 – 3.21), high body mass index (OR: 2.92;95% CI: 2.41 – 3.55) and diabetes mellitus (OR: 2.10; 95% CI: 1.58 – 2.80).

There is a clear relationship between urbanicity and common modifiable risk factors for chronic disease in a representative sample of Sri Lankan adults.

Cross-cultural research issues in developing international tourist markets for cultural events

Cross-cultural issues and research are fundamental to much tourism marketing and especially to developing international tourist markets for cultural events and festivals. With increasing globalization aided by developments in travel and information technology, growing international tourist markets present potentially significant and increasing market opportunities for cultural events throughout the world. In an increasingly competitive marketplace, in order to attract tourist markets, events and festivals need an understanding of these markets and the relevant marketing theories, practices, and strategies. Understanding tourists’ motivation and behavior is essential to identifying attractive tourist market segments in the first instance and then to developing appropriate marketing strategies to attract these segments. Within this environment, the importance of cross-cultural issues and research to tourism marketing and the development of tourist markets are apparent, and yet cross-cultural tourism research to date has been limited. Cross-cultural tourism research in relation to cultural events is even more limited. Cross-cultural tourism marketing research also presents some unique challenges, numerous environmental and methodological problems, and associated costs. These numerous problems, challenges, and costs may in their own right prevent cross-cultural issues and problems from being investigated. Some of these problems can also make the results of some of the existing crosscultural research suspect. Such problems could well account for the limited amount of cross-cultural tourism marketing research that has been undertaken, even though the potential benefits from such research can be great. This article examines the use and application of cross-cultural tourism research by cultural events. It also outlines some of the unique challenges, issues, and problems that need to be addressed in future crosscultural tourism marketing research to improve its application, use, and findings, and ensure the benefits outweigh the costs.

Sustaining the international competitive advantage of Asian firms : a conceptual framework and research propositions

The sudden loss of export markets by many Asian firms during the Asian financial crisis (AFC) has raised important questions on how firms in the region can regain and sustain their competitive advantage in international markets. This paper develops a conceptual model which focuses on certain key elements of a firm's internal resources as critical sources of competitive advantage and offers research propositions. It is argued that Asian firms can enhance their international competitive advantage by leveraging their internal resources within an external environment generally conducive to growth.

Does globalization weaken labor unions in developing countries?

For a developing economy with a given urban wage rate, globalization in capital markets strengthens labor unions. This result hinges on the fixed urban wage rate, which leads to a constant capital–labor ratio in the urban sector. Globalization via capital inflows not only enhances the employment effect of unionization but also reduces the rent-shifting related loss in production inefficiency to domestic capital, lending a support to labor unions for developing economies. This result is contrary to the common belief that labor unions tend to be weakened during the globalization process observed after 1980s in many developed economies.