Consolidation within the Australian real estate investment trust sector : an evaluation of the impact on unitholder returns

Mergers and acquisitions within the Australian-real estate investment trusts (A-REITs) sector have become a noticeable trend in the last decade. Utilising
event study methodology, 36 successful A-REIT mergers and acquisitions
between January 1995 and December 2008 were examined. Both target and
bidding shareholders experience positive excess returns of 4.27% and 0.54%
respectively over the 41 day event window [−20, +20]. Analysis indicates that the
cumulative abnormal returns (CARs) for bidding firms are considerably greater
than previous research suggests. This study finds higher bidder CARs when scrip
or a combination of scrip and cash is used to finance the acquisition. We also find
that the relative size or the size of the acquirer have a positive and significant
impact on the excess returns of bidding A-REITs. This suggests that the
synergistic benefits from the acquisition are a result of economies of scale and
increased market power. There is also some evidence that the relative size and
method of payment influence the CARs of target firms during the event window.

Gender differences in motor skill proficiency from childhood to adolescence : a longitudinal study

Students' proficiency in three object control and three locomotor skills were assessed in 2000 (M age = 10.06 years, SD = 0.63) in New South Wales, Australia and in 2006-07 (M age = 16. 44 years, SD = 0. 64). In 2006-07, 266 students, 138 girls (51.9%) and 128 boys (48.1%), had at least one skill reassessed. Boys were more object control proficient than girls. Childhood object control proficiency significantly predicted (p =. 001) adolescent object control proficiency ([r.sup.2] = .39), and, while gender was significant (p = .001), it did not affect the relationship between these variables (p = .53). Because childhood object control proficiency is predictive of subsequent object control proficiency, developing skills in childhood is important.

The reliability of two visual motor integration tests used with health adults

Occupational therapists often assess the visual motor integration (VMI) skills of children, adults, and the elderly, which are parts of the Body Functions and Structures of the International Classification of Functioning, Disability and Health. Objective. As it is imperative that therapists use tests and measures with strong psychometric properties, this study aims to examine the reliability of two VMI tests used with adults. Method. Sixty-one healthy adults, 18 males and 43 females, with an average age of 31.82 years, completed the Developmental Test of Visual Motor Integration (DTVMI) and the Full Range Test of Visual Motor Integration (FRTVMI). The Cronbach's alpha coefficient was used to examine the tests’ internal consistency, while the Spearman's rho correlation was used to evaluate the test–retest reliability, intrarater reliability, and interrater reliability of the two VMI tests. Results. The Cronbach's alpha coefficient for the DTVMI and FRTVMI was 0.66 and 0.80, respectively. The test–retest reliability coefficient was 0.77 (p < .001) for the DTVMI and 0.61 (p < .001) for the FRTVMI. The interrater reliability correlation was significant for both DTVMI at 0.79 (p < .001) and FRTVMI at 0.80 (p < .001). The DTVMI intrarater reliability correlation result was 0.95 (p < .001) and the FRTVMI at 0.87 (p < .001). Conclusion. Overall, the DTVMI and the FRTVMI exhibited moderate to high levels of reliability when used with a sample of healthy adults. Both VMI tests appear to exhibit reasonable levels of reliability and are recommended for use with adults and the elderly.

Problems of political transition in Ukraine : leadership failure and democratic consolidation

Democratisation and consolidation of a political system encompass a range of complex challenges, for which effective leadership is pivotal. However, the skills that a leader requires to break through and introduce change are not necessarily the same as those needed to maintain stability. This article examines the case of Viktor Yushchenko as president of Ukraine following the Orange Revolution. The negotiated transfer of power from the previous semi-authoritarian regime rendered consolidation difficult by limiting opportunities for a complete break. Within the residual 'grey area', a number of actors continued to participate and create tension. The regime that emerged was characterised by political infighting and instability, leading to the defeat of candidates associated with the Orange Revolution in the 2010 presidential elections. This article argues that the inability to move towards a consolidated democratic political system was due to the failure of the transitional leader, rather than the political and institutional configuration.

Processes of task performance as measured by the assessment of motor and process skills (AMPS): a predictor of work-related outcomes for adults with schizophrenia?

Objective: To determine whether the processes of task performance as measured by the Assessment of Motor and Process Skills (AMPS) would discriminate between the employment levels of adults with schizophrenia. Participants: Twenty adults with schizophrenia who were engaged either in competitive employment, supported employment, prevocational training, or nonvocational activities, participated in this exploratory study. Methods: Each participant completed the AMPS, the Positive and Negative Syndrome Scale (PANSS), the Addiction Severity Index (ASI), and theWorker Role Interview (WRI) to gather data about their occupational performance, symptoms, drug / alcohol use, and psychosocial / environmental factors that might influence their work related outcomes. Results: Analysis revealed a moderate correlation between the level of employment and the global scores of the process skills scale in the AMPS. Conclusions: This should be seen as preliminary evidence that beyond the basic cognitive functions, processes of task performance may also be a predictor of work related outcomes for this population. The results also highlighted the importance of considering personal causation and worker roles when assessing the work capacities of these clients. Finally, findings supported the four levels of employment used in this study, which appeared to form a continuum from nonvocational activities, prevocational training, supported employment, through to competitive employment.

Excitability at the motoneuron pool and motor cortex is specifically modulated in lengthening compared to isometric contractions

Excitability at the motoneuron pool and motor cortex is specifically modulated in lengthening compared to isometric contractions. J Neurophysiol 101: 2030–2040, 2009. First published January 28, 2008; doi:10.1152/jn.91104.2008. Neural control of muscle contraction seems to be unique during muscle lengthening. The present study aimed to determine the specific sites of modulatory control for lengthening compared with isometric contractions. We used stimulation of the motor cortex and corticospinal tract to observe changes at the spinal and cortical levels. Motor-evoked potentials (MEPs) and cervicomedullary MEPs (CMEPs) were evoked in biceps brachii and brachioradialis during maximal and submaximal lengthening and isometric contractions at the same elbow angle. Sizes of CMEPs and MEPs were lower in lengthening contractions for both muscles (by 28 and 16%, respectively; P 0.01), but MEP-to-CMEP ratios increased (by 21%; P 0.05). These results indicate reduced excitability at the spinal level but enhanced motor cortical excitability for lengthening compared with isometric muscle contractions.

Convergent validity of two visual motor integration tests

Background: Occupational therapists often assess visual motor integration (VMI) skills. It is, therefore, imperative that therapists use VMI tests with robust measurement properties.

Objective: This study examined the convergent validity of two VMI tests used to assess children, adolescents and adults.

Method: Three groups of healthy participants (n = 153) completed the Beery-Buktenica Developmental Test of Visual-Motor Integration (DTVMI) and the Full Range Test of Visual Motor Integration (FRTVMI). Seventy-three children aged 5-10 years (37 males and 36 females; mean age 7.5 years, SD = 2.20), 19 adolescents aged 11-17 years (8 males and 11 females; 13.1 years, SD = 2.16), and 61 adults (18 males and 43 females; mean age 31.82 years, SD = 11.20) completed the DTVMI and the FRTVMI. Spearman rho correlation coefficients were used to investigate whether each pair of the VMI test scores for each of the three participant age groups were associated.

Results: The Spearman rho correlation coefficients between all three versions of the DTVMI and FRTVMI were statistically significant. For the child group, the correlation coefficient was rho = 0.70 (p<0.000), while the correlation between the VMI scores obtained by the adolescent group on the two tests was rho = 0.77 (p<0.000). For the adult participant group, the correlation coefficient between the DTVMI and the FRTVMI was rho = 0.70 (p<0.000).

Conclusion: The VMI scores obtained by the three participant age groups on the DTVMI and the FRTVMI were all significantly correlated with each other. Overall, the DTVMI and the FRTVMI exhibited large levels of convergent validity with each other, indicating that the two tests appear to measure similar visual-motor integration constructs.

The reliability of two visual motor integration tests used with children

Occupational therapists often assess the visual motor integration (VMI) skills of children and young people. It is important that therapists use tools with strong psychometric properties. This study aims to examine the reliability of 2 VMI tests. Ninety-two children between the ages of 5 and 17 years (response rate of 31%) completed 2 VMI tests: the Developmental Test of Visual Motor Integration (DTVMI) and the Full Range Test of Visual Motor Integration (FRTVMI). Cronbach's alpha coefficient was used to examine the internal consistency of the 2 VMI tests whereas Spearman's rho correlation was used to evaluate the test–retest reliability, intrarater reliability, and interrater reliability of the 2 VMI tests. The Cronbach's alpha coefficient for the DTVMI was .82 and .72 for the FRTVMI. The test–retest reliability coefficient was .73 (p = .000) for the DTVMI and .49 (p = .05) for the FRTVMI. The interrater correlation was significant for both the DTVMI at .94 (p = .000) and FRTVMI at .68 (p = .001). The DTVMI intrarater reliability correlation result was .90 (p = .000) and the FRTVMI at .85 (p = .000). Overall, the DTVMI exhibited a higher level of reliability than the FRTVMI. Both VMI tests appear to exhibit reasonable levels of reliability and are recommended for use with children and young people.

Respiratory pattern in awake rats : effects of motor activity and of alerting stimuli

Our aim was to assess the impact of motor activity and of arousing stimuli on respiratory rate in the awake rats. The study was performed in male adult Sprague–Dawley (SD, n = 5) and Hooded Wistar (HW, n = 5) rats instrumented for ECG telemetry. Respiratory rate was recorded using whole-body plethysmograph, with a piezoelectric sensor attached for the simultaneous assessment of motor activity. All motor activity was found to be associated with an immediate increase in respiratory rate that remained elevated for the whole duration of movement; this was reflected by: i) bimodal distribution of respiratory intervals (modes for slow peak: 336 ± 19 and 532 ± 80 ms for HW and SD, p < 0.05; modes for fast peak 128 ± 6 and 132 ± 7 ms for HW and SD, NS); and ii) a tight correlation between total movement time and total time of tachypnoea, with an R2 ranging 0.96–0.99 (n = 10, p < 0001). The extent of motor-related tachypnoea was significantly correlated with the intensity of associated movement. Mild alerting stimuli produced stereotyped tachypnoeic responses, without affecting heart rate: tapping the chamber raised respiratory rate from 117 ± 7 to 430 ± 15 cpm; sudden side move — from 134 ± 13 to 487 ± 16 cpm, and turning on lights — from 136 ± 12 to 507 ± 14 cpm (n = 10; p < 0.01 for all; no inter-strain differences). We conclude that: i) sniffing is an integral part of the generalized arousal response and does not depend on the modality of sensory stimuli; ii) tachypnoea is a sensitive index of arousal; and iii) respiratory rate is tightly correlated with motor activity.

Retroactive interference and mental practice effects on motor performance : a pilot study

This study examined the effect of similar versus dissimilar retroactive interference on the mental practice effects for performing a novel motor skill. Research has shown that mental practice of a motor task can interfere with learning and performance of the task; however, little is known about how different retroactive interference activities affect mental practice effects. 90 volunteers ages 18 to 51 years (M=26.8, SD=9.6) completed a pre-test and post-test of 10 sets of five trials of a throwing task with the non-preferred hand. In the practice phase, participants mentally practiced the throwing task and then mentally practiced a task that was similar, dissimilar, or completed an unrelated reading task. Performance for all groups improved from pre- to post-test; however, there were no differences in increases for the three groups. The findings suggest that mental practice of similar and dissimilar tasks produced no significant interference in performance.