Understanding quality and equity of schooling in Scotland : locating educational traditions globally

This paper provides a descriptive analysis of the OECD’s (2007) national report on Scottish education, Quality and equity of schooling in Scotland, while also briefly considering the Scottish government’s Diagnostic Report, prepared for the review. The national report is situated against Scottish traditions of schooling, particularly the view that access to academic curricula for all is a democratic and egalitarian approach, and also set against the changing role of the OECD. On the latter, the paper argues that the OECD, in the context of globalisation, has become more of a policy actor in its own right, in addition to its more traditional think-tank function. The OECD is a now significant transnational policy actor in education, contributing to the emergent global education policy field. The overarching argument proffered is that debates provoked by the OECD’s report, for example the David Raffe/Richard Teese exchange in the Scottish Educational Review, 40(1), 2008, stem from tensions between the new supranational expression of political and policy authority as articulated in the OECD’s report and that located more traditionally within the nation. The academic curricula for all, the Scottish tradition, is challenged by the OECD report, which supports more diverse curricula provision, including more vocational education in schools, particularly at the post-compulsory phase. We note, drawing on theoretical and empirical insights of Bourdieu, that the success of the former demands pedagogies which scaffold for those students not possessing the requisite cultural capitals for success with academic curricula, while the latter demands a strategic effort to ensure parity of esteem between different curricular provisions.

Going negative : what to do with negative book equity stocks

A firm's book equity is a measure of the value held by a firm's ordinary shareholders. Increasingly, it is being reported as a negative number. Because a firm's limited liability structure means that shareholders cannot have negative value, negative book equity has no obvious interpretation. Consequently, both practitioners and academics typically omit such stocks in their analysis .While these stocks are small in number, they are disproportionately represented in extreme growth-value sectors and, therefore, can have an impact on applications where value is defined in terms of book equity. The authors propose a new approach that classifies negative book equity stocks across the growth-value spectrum by considering how close their returns correspond to those of stocks that fit more obviously into these classifications .They find that this new value factor, which includes negative book equity stock, is economically and statistically different from the old value factor that excludes such stocks. Although they illustrate how this approach can be used to classify negative book equity stock, the approach is quite general and may be used whenever particular accounting data are unavailable or otherwise suspect.

The effect of increased water prices on construction

The research aimed to investigate the effect an increase in water prices would have on construction. It was found that while there is a considerable amount of water embodied in construction the actual effect of a water tax on construction would be minimal unless implemented at the highest rate.

An interdependence analysis of Australian house prices using variance decomposition

Purpose - The purpose of this paper is to analyse the interdependencies of the house price growth rates in Australian capital cities.
Design/methodology/approach - A vector autoregression model and variance decomposition are introduced to estimate and interpret the interdependences among the growth rates of regional house prices in Australia.
Findings - The results suggest the eight capital cities can be divided into three groups: Sydney and Melbourne; Canberra, Adelaide and Brisbane; and Hobart, Perth and Darwin.
Originality/value - Based on the structural vector autoregression model, this research develops an innovative interdependence analysis approach of regional house prices based on a variance decomposition method.