Book review : Entrepreneurship in the creative industries : an international perspective

Colette Henry (Ed) (2007) Entrepreneurship in the Creative Industries: An International Perspective, Edward Elgar, Cheltenham, United Kingdom

Value relevance of information in hi-tech industries in Australia : accounting information and intangible asset disclosures

The main objective of this study is to test the value relevance of financial and non-financial information in high-tech industries in Australia. Ninety-one companies were selected from the sectors of Pharmaceuticals, Biotechnology and Life Sciences; Technology, Hardware and Equipment; and Telecommunication Services of ASX for the analysis. Both financial and non-financial sections of annual reports were scrutinized in order to obtain data for the analysis. The unaudited sections of annual reports were particularly analysed using NVivo to obtain the word-count of intangible assets. Ohlson’s (1995) Equity Valuation Model (modified for the intangible assets disclosures) was explicitly applied to examine the value relevance of financial and non-financial information. The overall results provide evidence that book value is the most significant factor and earnings are the least significant factor in deciding share prices in high-tech industries in Australia. This finding supports the previous studies that showed value relevance declined in earnings but increased in book value. This research proved that voluntary disclosures of intangible assets are value relevant, providing support for the previous US and Australian studies and the conclusion that investors probably increasingly rely upon alternative information sources.

Microbial biosynthesis of biopolymers and applications in the biopharmaceutical, biomedical and food industries

Biopolymers can be produced through a variety of mechanisms. They can be derived from microbial systems, extracted from higher organisms such as plants, or synthesized chemically from basic biological building blocks. A wide range of emerging applications rely on all three of these production techniques. In recent years, considerable attention has been given to biopolymers produced by microbes. It is on the microbial level where the tools of genetic engineering can be most readily applied. A number of novel materials are now being developed or introduced into the market. Biopolymers are being developed for use as medical materials, packaging, cosmetics, food additives, clothing fabrics, water treatment chemicals, industrial plastics, absorbents, biosensors, and even data storage elements. This review identifies the possible commercial applications and describes the various methods of production of microbial biopolymers.

An early Permian brachiopod–gastropod fauna from the Calytrix Formation, Barbwire Terrace, Canning Basin, Western Australia

A small brachiopod–gastropod fauna from a core close to the base of the Calytrix Formation within the Grant Group includes the brachiopods Altiplecus decipiens (Hosking), Myodelthyrium dickinsi (Thomas), Brachythyrinella narsarhensis (Reed), Neochonetes (Sommeriella) obrieni Archbold, Tivertonia barbwirensis sp. nov. and the gastropod Peruvispira canningensis sp. nov. The fauna has affinities with that of the late Sakmarian‒early Artinskian Nura Nura Member directly overlying the Grant Group in other parts of the basin but, as with all lower Cisuralian (and Pennsylvanian) glacial strata in Western Australia, its precise age remains poorly constrained, especially in terms of correlation to international stages. Although the Calytrix fauna lies within the Pseudoreticulatispora confluens Palynozone, the only real constraint on its age (and that of the associated glacially influenced strata) is from Sakmarian (Sterlitamakian) and stratigraphically younger faunas. A brief review of radiometric ages from correlative strata elsewhere in Gondwana shows that those ages need to be updated. The presence of Asselian strata and the position of the Carboniferous‒Permian boundary remain unclear in Western Australia.Arturo César Taboada [ataboada@unpata.edu.ar], CONICET-Laboratorio de Investigaciones en Evolución y Biodiversidad (LIEB), Facultad de Ciencias Naturales, Sede Esquel, Universidad Nacional de la Patagonia ‘San Juan Bosco’, Edificio de Aulas, Ruta Nacional 259, km. 16,5, Esquel U9200, Chubut, Argentina; Arthur Mory [arthur.mory@dmp.wa.gov.au], Geological Survey of Western Australia, 100 Plain Street, East Perth, WA 6004, School of Earth and Environment, The University of Western Australia, 35 Stirling Highway, Crawley, WA 6009, Australia; Guang R. Shi [grshi@deakin.edu.au], School of Life and Environmental Sciences, Deakin University, Melbourne Burwood Campus, 221 Burwood Highway, Burwood, Victoria 3125, Australia; David W. Haig [david.haig@uwa.edu.au], School of Earth and Environment (M004), The University of Western Australia, 35 Stirling Highway, Crawley, WA 6009, Australia; María Karina Pinilla [mkpinilla@fcnym.unlp.edu.ar], División Paleozoología Invertebrados, Museo de Ciencias Naturales de La Plata, Paseo del Bosque s/n, 1900 La Plata, Buenos Aires, Argentina.