Age-related changes in ovarian characteristices, plasma sex steroids and fertility during pubertal development in captive female Murray cod Maccullochella peelii peelii

Age-related changes in ovarian development characteristics and plasma sex steroids in female Murray cod were examined throughout their second, third and fourth years of life to better understand the physiological and endocrine processes associated with puberty in this species in captivity. Spawning performance of 2+ and 3+ year old females was also assessed to identify ontogenetic differences in egg fertility. Puberty was acquired in 38% of 1+ year old females and 100% of age 2+ females. By age 3+, all females had developed full (adult) reproductive function. Ovarian development in pubertal fish was characterised by a rapid transition between cortical alveoli and lipid droplet oogenic phases, coinciding with significantly lower plasma 17β-oestradiol in age 2+ females (p < 0.05). Mean mature oocyte diameter (2.44 mm), post-fertilisation viability (30.80%) and hatchability (0.99%) of eggs from age 2+ females were significantly reduced relative to age 3+ adults (2.81 mm, 84.89% and 23.58%, respectively). Ovaries of pubertal Murray cod exhibited both vitellogenic and ovulatory capacities, yet functional abnormalities during secondary oocyte growth are likely to have contributed to poor egg fertility and consequently, evaluations of age-at-first maturity based on the presence of advanced ovarian stages may overestimate the reproductive potential of younger broodstock populations.

The cost of granting executive stock options with strike prices adjusted by the cost of capital

Purpose – The purpose of this paper is to estimate the cost of granting executive stocks with strike prices adjusted by the cost of capital.

Design/methodology/approach – In the paper a Monte Carlo simulation approach developed in Longstaff and Schwartz is used in conjunction with the subjective valuation model developed in Ingersoll to value these executive stock options that are subject to performance hurdles.

Findings – The paper finds that standard European Black-Scholes-Merton option values overstate the true cost to the firm of granting these executive stock options. The option values also decrease with a higher dividend yield, a higher performance hurdle, a longer vesting period, and a shorter maturity.

Research limitations/implications – While the study in the paper is limited to the valuation of executive options, the methodology can be used to study incentive effects of executive stock options that have a performance hurdle.

Practical implications – The approach used in this paper to estimate the cost of granting executive stock options is a clear improvement over standard European option pricing approaches that often result in biased estimates.

Originality/value – This paper presents a first attempt to integrate the Ingersoll utility-theoretic model and the Longstaff and Schwartz least squares Monte Carlo algorithm to estimate the subjective value and the objective cost of executive stock options with a performance hurdle. This valuation approach will be useful in the study of other types of executive compensation.

The Samuelson hypothesis in futures markets : an analysis using intraday data

This paper considers the Samuelson hypothesis, which argues that the futures price volatility increases as the futures contract approaches its expiration. Utilizing intraday data from 20 futures markets in six futures exchanges, we find strong support for the Samuelson hypothesis in agricultural futures. However, the Samuelson hypothesis does not hold for other futures contracts. We also provide supporting evidence that the ‘negative covariance’ hypothesis is the key factor for the empirical support of the Samuelson hypothesis. In addition, our findings remain largely unaltered even after we control for seasonality and liquidity effects.

Building capacity for rural health : the role of boundary crosser and the impact of their behaviours on community readiness partnerships

The concept of partnership has entered policy rhetoric and is urged as good practice in a variety of domains including health. Rural communities tend to have fewer resources available for the provision of services such as health than their metropolitan counterparts, and so could be expected to benefit from partnerships with external agencies. Indicators of coalition maturity for working in partnership with external agents in order to build stronger communities are distilled from the group development and partnership research literature and considered in the light of the experiences of the University Department of Rural Health in community engagement. The chapter draws on experiences of two rural community coalitions working to plan and negotiate health service provision. The coalitions were analysed against the indicators. A key indicator of maturity and readiness for working in partnership with external agents is related to the behaviour of ‘boundary crossers’. Boundary crossers are defined as people who move freely between two or more domains and who understand the values, cultures and language, and have the trust, of both. Domains can be within a community or be the community and an external sector. Community health professionals, especially those in senior positions, often act as boundary crossers between the community and broader domains such as regional/state health services or policy, although other community members can fill the role. Other key indicators of coalition maturity for working in partnership with external agents include local leadership that empowers the community, a willingness of community coalitions to take risks and mould opportunities to meet their vision, and a culture of critical reflection and evaluation of past actions.

This chapter analyses the impact of boundary crossing behaviour on community readiness and partnerships with external agents that are intended to build rural community capacity to plan and negotiate health service provision. It is argued that the characteristics and modus operandi of boundary crossers who are members of rural community coalitions affect the level of maturity of the coalitions and community readiness to work with external agents. An understanding of the characteristics and modus operandi of boundary crossers provides valuable insights for external agents in designing their approach to partnerships that build rural community capacity for health.

Leadership for rural school community partnerships

This paper presents a model for examining effective leadership for rural school community partnerships, derived from Australian research supported by the Rural Industries Research and Development Corporation. The research team investigated effective school community partnerships in five different Australian rural locations. Four government and one independent school featured in the study. Partnership effectiveness was confirmed by seeking advice from a range of experts including State, Commonwealth, independent school and Catholic education authorities, as well as rural education professionals. The particular focus of the study was on the community outcomes of such partnerships.

The model is consistent with, but further develops, earlier partnership models. It uses the leadership process, rather than the leader, as the unit of analysis. The model outlines a five-stage process of partnership development: trigger, initiation, development, maintenance and sustainability. While the stages of the process appear to be consistent across study sites, the way in which the model is implemented differs according to context, with factors such as the level of maturity of the school community partnership influencing the process. The flexibility of the model, in terms of better understanding the contextualised nature of educational leadership, suggests it has broader application beyond rural school community partnerships.

Maturing school-community partnerships : developing learning communities in rural Australia

This paper reports findings from a project that examined the extent and nature of the contribution of rural schools to their communities’ development beyond traditional forms of education of young people. Case study communities in five Australian States participated in the project, funded by the Rural Industries Research and Development Corporation. Communities and schools that share the belief that education is the responsibility of the whole community and work together, drawing on skills and knowledge of the community as a whole, experience benefits that extend far beyond producing a well-educated group of young people. The level of maturity of the school– community partnership dictates how schools and communities go about developing and sustaining new linkages, or joint projects. Twelve characteristics central to the success of school–community partnerships were identified. The characteristics are largely sequential in that later characteristics build on earlier ones. Underscoring these characteristics is the importance of collective learning activities including teamwork and network building, which have been identified elsewhere as key social capital building activities. A generic model of the relationship between the indicators of effective school–community partnerships and the level of maturity of those partnerships is forwarded.

Our health in our hands : building effective community partnerships for rural health service provision

This paper reports findings from a study in two small Tasmanian rural communities that examined the process of developing and sustaining partnerships between health services and their communities. It identifies a generic framework for partnership development that appears to be common to partnerships, regardless of their purpose or of partners involved. The framework comprises ten predictors or indicators of effectiveness, and a sequential nine-stage partnership development process. Integral to the framework are social capital, and the leadership practices of health service and community leaders. The influence of context on the partnership development process is also examined, with reference to historical precedent, age or maturity of the partnership, and community readiness.

Asymmetry in volume between dominant and nondominant upper limbs in young tennis players

This study aimed at demonstrating the asymmetry in volume between the dominant and nondominant upper limbs in tennis players, controlled for maturity status. Upper limb volumes on both sides were calculated in 72 tennis players and 84 control subjects, using the truncated cone method. The participants’ maturity status was determined using the predicted age at peak height velocity (PHV). The results showed significant larger side-to-side asymmetry in volume in tennis groups than
in control groups. These findings suggested that, even before PHV, specific-sport adaptations occurred in the dominant upper limb in tennis players.

Reproductive biology of the eastern shovelnose stingaree Trygonoptera imitata from south-eastern Australia

Abstract. In applying a quantitative approach to the reproduction of Trygonoptera imitata, the present study contributes to understanding the wide diversity in the reproductive biology of the family Urolophidae and provides insights to help determine phylogenetic relationships. This localised species is taken as bycatch in several inshore fisheries and potentially impacted by a range of other anthropogenic pressures, including introduced species, particularly in shallow-water pupping areas.T. imitata can be characterised as a species of comparatively lowmatrotrophic histotrophy with an extended period of relatively large eggs in utero (5–8 months) followed by rapid growth of the embryos (4–6 months). The reproductive cycle is annual with parturition occurring during late-February–April, followed immediately by ovulation. Mean size-at-birth is ~225mm total length and there is a ~1000% gain in mean wet mass from egg (15 g) to full-term embryo in utero (150 g), the lowest reported for any viviparous batoid. Litter size increases with maternal length, reaching a maximum of seven, and sex ratio of embryos is 1 : 1. Maximum length and estimates of the maturity–ogive parameters l₅₀ and l₉₅ are similar for females and males.

The effects of repetitive loading on bone mass and geometry in young male tennis players : a quantative study using magnetic resonance imaging

Pre- and early puberty seem to be the most opportune times for exercise to  improve bone strength in girls, but few studies have addressed this issue in boys. This study investigated the site-, surface-, and maturity-specific exercise-induced changes in bone mass and geometry in young boys. The osteogenic effects of loading were analyzed by comparing the playing and nonplaying humeri of 43 male pre-, peri-, and postpubertal competitive tennis players 10-19 yr of age. Total bone area, medullary area, and cortical area were determined at the mid (40-50%) and distal humerus (60-70%) of both arms using MRI. Humeral bone mass (BMC) was derived from a whole body DXA scan. In prepubertal boys, BMC was 17% greater in the playing compared with nonplaying arm (p < 0.001), which was accompanied by a 12-21% greater cortical area, because of greater periosteal expansion than medullary expansion at the midhumerus and periosteal expansion associated with medullary contraction at the distal humerus. Compared with prepuberty, the side-to-side differences in BMC (27%) and cortical area (20-33%) were greater in peripuberty (p < 0.01). No differences were found between peri- and postpuberty despite longer playing history in the postpubertal players.The osteogenic response to loading was greater in peri- compared with prepubertal boys, which is in contrast with our previous findings in girls and may be caused by differences in training history. This suggests that the window of opportunity to improve bone mass and size through exercise may be longer in boys than in girls.

Spatial ecology of a root parasite : from pattern to process

Occurrence patterns of parasitic plants are constrained by the distribution of suitable hosts and movement patterns of seed vectors and, accordingly, represent a simplified system to study many aspects of spatial ecology and determinants of distribution. Previous work has focused on the aerially hemiparasitic mistletoes, and it is unclear whether root parasites are affected by similar factors. Here, we evaluate spatial patterns in the root parasitic Santalum lanceolatum in an arid shrubland in north-western New South Wales, central Australia. In this region, the principal host is a long-lived nitrogen fixing shrub Acacia tetragonophylla closely associated with ephemeral creek-lines. The location of 765 individuals of both species was mapped along a 250-m section of creek-line using a total survey station, and occurrence patterns of the root parasite related to host distribution and landscape context. We used Ripley's K-function and the O-ring statistic to determine whether the distribution of S. lanceolatum was random, aggregated or regular; the spatial scales at which these patterns occurred; and to quantify any spatial associations between the parasite and its host, A. tetragonophylla. While acacias were closely associated with the creek-line, S. lanceolatum plants were more tightly clustered, displaying significant clustering at two spatial scales (1.2 m and 8.8 m). We suggest that host quality may act as an important constraint, with only those acacias growing in or near the creek-line being physiologically capable of supporting a parasite to maturity. Insights gained from spatial analysis are used to guide ongoing research in this system, and highlight the utility of the O-ring statistic for understanding patterns of distribution affected by multiple processes operating at critical scales.

Economic transition and commercial property markets : China and Poland

This paper discusses the economic transition and the property market emergence in transition economies. It compares the Chinese property market with the Polish market. It preliminarily examines market emergence and maturity in the context of economic transition, comparing the transitions with the emphasis placed on commercial property markets especially their formation and behaviour. Supply and demand for commercial space in China and Poland are also contrasted. As commercial property market behaviour is somewhat driven by market structure formation process and the business cycle, the transition has provided a “common ground” that enables similarities between the property markets in China and Poland. The challenge for state intervention is mainly due to the agency problem which is also a problem in mature markets; it appears that transitional economies do share common features in their emerging property markets. This paper suggests state intervention in market formation and emergence is necessary and essential. However the actual formation and behaviour of property markets have some distinctive characteristics. Value or implication of the study include: knowing the stage of market emergence is essential for making investment decisions, especially when identifying markets with varying backgrounds. This paper is also relevant to policy-makers in the process of facilitating transitions in emerging markets.

Teaching and learning centres : towards maturation

Approximately 70% of Australian Teaching and Learning Centres have been restructured and/or have undergone leadership changes in the last three years. The volatility of this environment reflects the number of significant challenges faced by Teaching and Learning Centres. In determining what makes Centres successful, the issues that are likely to impact on their ability to succeed were examined. It emerged that a myriad of factors influence whether or not a Centre was recognised as being an integral and valued part of the university’s teaching and learning community – a hallmark of having reached maturity. This paper identifies four factors as being critical to the ability of Centres to succeed, noting that a combination of other factors, appropriate to each unique context, must also be in place in order for Centres to maximise their value.

Presbyterian ethos and environment in the novels of John Buchan : a religious and historical study

The aim of this thesis is to establish, from a historical and religious perspective, that the Presbyterian ethos and environment in which John Buchan was reared was the predominating influence in the writing of his novels. Presbyterianism was not the only influence on Buchan that determined the character of his stories. Buchan was by temperament a romantic, and this had considerable influence on his literature. His novels are romances, peopled by romantic figures who pursue romantic adventures. There are the signs of Buchan's romantic nature in the contents of the novels: creative imagination, sensitivity to nature, and expectations of the intrusion of other worlds, with destiny-determining events to follow. But Buchan had also an acquired classicism. His studies at Glasgow and Oxford Universities brought him in touch with a whole range of the master-pieces of classical literature, especially the works of Plato and Virgil. This discipline gave him clarity and conciseness in style, and balanced the romantic element in him, keeping his work within the bounds of reason. At the heart of Buchan's life and work, however, was his deeply religious nature and this, while influenced by romanticism and classicism, was the dominant force behind his work. Buchan did not accept in its entirety the Presbyterian doctrine conveyed to him by his father and his Church. He was moderate by temperament and shrank from excesses in religious matters, and, being a romantic, he shied away from any fixed creeds. He did embrace the fundamentals of Christianity, however, which he learned from his father and his Church, even if he did put aside the Rev. John's orthodox Calvinism. The basic Christianity which underlies all Buchan's novels has the stamp of Presbyterianism upon it, and that stamp is evident in his characters and their adventures. The expression of Christianity which Buchan embraced was the Christian Platonism of seventeenth century theologians, who taught and preached at Cambridge University, They gave prominence to the place of reason and conscience in man's search for God, They believed that reason and conscience were the ‘candle of the Lord’ which was existed every one. It was their conviction that, if that light was followed, it would lead men and women to God. They were against superstition and fanaticism in religion, against all forms of persecution for religious beliefs, and insisted that God could only be known by renouncing evil and setting oneself to live according to God’s will. This teaching Buchan received, but the stamp of his Presbyterianism was not obliterated. The basic doctrines which arose from his father's Presbyterianism and are to be found in Buchan's novels are as follows: a. the fear (or awe) of God, as life's basic religious attitude; b. the Providence of God as the ultimate determinative force in the outcome of events; c. the reality, malignity and universality of evil which must be forcefully and constantly resisted; d. the dignity of human beings in bearing God's image; e. the conviction that life has meaning and that its ultimate goal, therefore, is a spiritual one - as opposed to the accumulation of wealth, the achieving of recognition from society, and the gaining access to power; f. the necessity of challenge in life for growth and fulfilment, and the importance of fortitude in successfully meeting such challenge; g. the belief that, in the purpose of God, the weak confound the strong. These emphases of Presbyterianism are to be found in all Buchan's novels, to a greater or lesser degree. All his characters are serious people, with a moral purpose in life. Like the pilgrims of the Bible, they seek a country: true fulfilment. This quest becomes more spiritual and more dearly defined as Buchan grows in age and maturity. The progress is to be traced from his early novels, where fulfilment is sought in honour and self-approving competence, as advocated by classicism; to the novels of his middle years, where fulfilment is sought in adventures suggested by romanticism. In his final novel Sick Heart River. Buchan appears to have moved somewhat from his earlier classicism and his romanticism as the road to fulfilment. In this novel, Buchan expresses what, for him, is ultimate fulfilment: a conversion to God that produces self-sacrificing love for others. The terminally-ill Edward Leithen sets out on a romantic adventure that will enable him to die with dignity, and so, in classic style, justify his existence. He has a belief in God, but in a God who is almighty, distant and largely irrelevant to Leithen's life. In the frozen North of Canada, where he expects to find his meagre beliefs in God's absolute power confirmed by the icy majesty of mountain and plain, he finds instead God's mercy and it melts his heart. In a Christ-like way, he brings life to others through his death, believing that, through death, he will find life. There is sufficient evidence to give plausibility to the view that Buchan is describing in Leithen his own pilgrimage. If so, it means that Buchan found his way back to the fundamental experience of the Christian life, conversion, so strongly emphasised in his orthodox Presbyterianism home and Church. However, Buchan reaches this conclusion in a Christian Platonist way, through the natural world, rather than through the more orthodox pathway of Scripture.

Studies of the biology of four species of Dicranoloma

Populations of Dicranoloma billardierei (Brid) Par., D. dicarpum (Nees.) Par., D. menziesii (Tayl.) Par. and D. platycaulon (C. Muell) Dix, from two pockets of cool temperate rainforest within the Yarra Ranges National Park (Cement Creek and Myrtle Loop), were sampled for a period of two years to establish their reproductive biology. The population dynamics within quadrats of D. billardierei, D. menziesii and D. platycaulon at Cement Creek also was investigated over a two year period, through the seasonal recording of shoot loss and/or gain, The four species of Dicranoloma were dioicous and sexually dimorphic, with dwarf males epiphytic on the female plants. Antheridia were initiated before archegonia and required ca, 6 months to reach maturity, compared with 1 to 2 months for archegonia. More archegonia than antheridia occurred per inflorescence and were more variable Fertilization occurred during winter in D. billardierei and summer/ autumn in D. menziesii and D. platycaulon. The duration of the sporophyte cycle of D. menziesii was 12 months, shorter than that of D. billardierei and D. platycaulon which lasted for a period of 18 months to 2 years. In the latter two species an overlap of sporophyte generations occurred. This was particularly pronounced in D. billardierei as sporophytes remained in the swollen venter maturation stage for a period of 6 months. The duration of the sporophyte cycle could not be ascertained as few fruiting stems of D. dicarpum were found. All four species of Dicranoloma regenerated from fragments cultured in the laboratory, and only two of the species showed evidence of production of asexual propagules in the field. Dicranoloma dicarpum was found to produce gemmae, an observation which had not been recorded before, and most of the leaves on stems of D. platycaulon had detached subulas. Shoot loss was minimal in all four species, and when it did occur, (eg D. billardierei) it was attributed to disturbance by animals. Within quadrats there was an increase in shoot density which resulted from the development of innovation(s) and/or side branches rather than from the recruitment of new plants from spores or the regeneration of asexual propagules. The four species of Dicranoloma investigated were robust, perennial mosses and formed an important component of the bryophytes found within the study area. Dicranoloma menziesii was the predominant species establishing on a variety of substrata, particularly as an epiphyte on Nothofagus cunninghamii The other species were more selective in their choice of substratum. Dicranoloma platycaulon was found exclusively on the trunks of myrtle beech and D. billardierei on fallen logs and exposed roots. Dicranoloma dicarpum which was not common, grew as an epiphyte on myrtle beech and on rocks.