A complex connection : community newspapers and tiers of social capital

At a time when newspaper circulations across the globe are plummeting, there is increasing interest in the concept of `local over global' and research linking small newspapers with the `strength of community'. There has been a myriad of definitions on social capital including Coleman, Bourdieu and Putnam which focus on the value of the strength of relationships formed by individuals and groups within communities. While newspaper circulation has been linked to community social capital, little attention has been paid to the way social capital works within the news organisation from those who produce news and information to those who read it. Given the complexity and multiplicity of the sociology of news production, this paper examines the role of organisational social capital in this process and argues Ronald Burt's theory of 'structural holes' (1997) may be an appropriate theoretical lens through which to consider this.

Can investors hedge residential price dynamics of Australia's capital cities?

The study described in this paper focuses on testing the short-run and
long-run relationships between house price and consumer price indices in Australia’s capital cities from 1998 to 2008. The autoregressive distributed lag model is adopted to obtain the estimates of the short-run relationships, while the error correction model is used to investigate the long-run relationships. The t-statistic is used to compute the significance of these relationships. The research results give no evidence that house price indices are correlated with consumer price indices in the short run. However, the long-run relationships between house and consumer price indices exist in most of the cities.

Demystifying the supply of capital and labour in a nation’s economic chain

Public capital has been considered to be the wheels of economic activity in a nation or region. The reverse effect, the contribution of economic growth to public capital, is also worth analysis. The non-structural vector auto-regression (VAR) approach is performed for the Australian economy using yearly data for the 1960-2008 period. The optimal lag is investigated to build the VAR model that is then tested for stability. The impulse response function is further employed to examine the response of one economic variable to the innovation of others and to determine the lagged terms for the maximum absolute value of the other variables’ responses. The results will provide historical evidence for the federal and regional governments of Australia to estimate the effects of these production variables, in particular, the effect of infrastructure spending on the gross domestic product.

The role of reflexive capability in relation to intellectual capital on multi international partnerships

This paper reports the results of an analysis of five Malaysian firms who have worked successfully on multi international partnerships and/or megaprojects. A case study methodology was employed to examine the barriers and successful strategies the firms used in decision making in various international markets. A common characteristic across the firms was the ability to self reflect and adapt their practices to different international conditions despite numerous differences between countries including cultural, social, project governance structures, regulatory, terminology and codes. A reflexive capability model developed from the social sciences theory of individual agent reflexivity was developed to explain the way in which firms as an entity can develop awareness, responsiveness and adaptability for long term success in diverse international markets. This paper builds upon an initial Australian study which developed the model grounded in empirical observations of internationalising design construction firms by presenting the results of a second study of Malaysian firms. Results indicate that the model of reflexivity capability is a useful way to interpret practices that are undertaken in multi partner relationships on larger more complex projects. Successful Malaysian firms within joint venture relationships display an ability to self reflect and adapt. This transformation process is critiqued in relation to the relationships between social, cultural and intellectual capital. Reflexive capability is a characteristic of the successful case study firms working within global models of practice. The reflexive capability model is explained in relation to common themes identified in relation to the management of intellectual capital in successful multi international partnerships and megaprojects.

Knowledge development, social capital and alliance learning

Purpose – The purpose of this paper is to elucidate information on what creates the different types of knowledge.

Design/methodology/approach – In the conceptual model it is argued that the concept of social capital provides an interesting view on the creation of market-specific and firm-specific knowledge.

Findings – The major finding from the paper is that knowledge is an important by-product of an alliance forming process, a process commonly termed as alliance learning.

Research limitations/implications – Both market-specific and firm-specific knowledge have implications on two main types of alliance learning, that of mutual and non-mutual learning.

Practical implications – Alliance managers need to be aware that knowledge is a key driver as well as a beneficial outcome in the formation of alliances.

Originality/value – This paper examines how the different types of knowledge evolve and how these different types of knowledge impact upon alliance learning.

A theoretical framework of alliance performance : the role of trust, social capital and knowledge development

While studies on alliances have been substantial in the international business literature, much is still unexplored in understanding what alliance performance really is and how superior alliance performance is facilitated (Das & Teng 2003). Drawing from research on alliances, we develop a theoretical framework to examine alliance performance by integrating a partner analysis approach, focusing on alliance trust, alliance partners' social capital, and knowledge development from alliance relationships. We consider the level of mutual trust between alliance partners to be the precursor to such relationship (Das & Teng 1998). Trust, we argue, subsequently builds and enhances the partners' social capital. Two types of social capital are considered in this article: internal social capital and external social capital. In developing our framework, we further subscribe to the notion that knowledge is a contributing factor to superior alliance performance, and consider how such relationships influence the development of partners' knowledge in terms of the development in the tacit firm-specific and the more explicit market-specific knowledge. Key managerial implications and suggestions for future research are discussed.

The relationship between social capital and depression during the transition to adulthood

Relatively high levels of depression are observed during the transition to adulthood. Hence, it is important to identify the factors that can reduce the incidence of depression at this time. Social capital is theorised to protect against depression by providing greater access to support and psychological resources. Social capital incorporates both interpersonal relationships and broader community-level factors. However, most research has focused on the influence of relationships with parents and peers in the development of depression in young people, with little attention given to the role of broader social capital factors relating to perceptions of and engagement with the wider community. Drawing on longitudinal data from the Australian Temperament Project (ATP), this article examines the effects of close interpersonal relationships (with parents and peers) and broader, community-level aspects of social capital (trust and civic engagement) on depression during the transition to adulthood. Using hierarchical multiple regression, alienation from peers was found to predict higher depression, whereas good communication with peers was associated with a reduction of depressive symptoms. After controlling for the effects of close interpersonal relationships, trust in authorities and organisations made a significant contribution to the prediction of lower depression. Implications for intervention are discussed.

A resource-based view of small export firms' social capital in a Southeast Asian country

This study empirically examines the social capital that facilitates the flow of export knowledge, thereby supporting the entrepreneurial stance of small export firms. By applying the VRIO (value, rarity, inimitability and organisation of firm resources) framework to the resource-based view (RBV) of the firm, this study suggests that superior performance is a function of resources that are valuable, rare, inimitable and sufficiently organised to develop and sustain the firm's competitive advantage. This study argues that small, resource-constrained export firms in a developing economy are able to adopt entrepreneurial tactics and reap positive rates of return by exploiting their relational capital to acquire export knowledge. A survey of 175 small export firms in the Philippines was conducted, and the data were analysed using structural equation modelling. The results suggest positive relationships between the firm's social capital and export knowledge. Export knowledge is associated with entrepreneurial orientation, which then correlates with export performance.

Construction capital productivity measurement using a data envelopment analysis

During the past few decades, the construction industry has experienced a series of changes including the innovation of construction technologies and the enhancement of management strategies. These improvements should have had a considerable effect on industrial efficiency and productivity performance, but research is needed to address whether the capital productivity levels of the construction industry have in fact shown such a huge improvement. This paper aims to develop an analysis procedure to measure capital productivity changes and to reasonably quantify factors affecting productivity levels in the construction industry. Based on the data envelopment analysis method, this research has developed a novel model measuring capital productivity and has applied it to the Australian construction industry. The numerical results indicate that the average annual capital productivity levels of the construction industry are slowly growing in all the Australian states and territories except for Queensland and Western Australia. In addition, construction technologies are shown to have a close relationship with the changes in capital productivity according to the temporal-spatial comparisons of productivity indices. The research findings are expected to be beneficial for making policy and strategic decisions to improve the capital productivity performance.

House price bubble estimations in Australia's capital cities with market fundamentals

This paper investigates the existence of house price bubbles in Australia's eight capital cities in recent years by using quantitative analyses including Johansen cointegration test, Granger causality test, impulse response and Chow forecast test. While interactions between house prices and market fundamentals are discussed in long-run and causal estimations, shocks from the market fundamentals to house prices are investigated in generalized impulse response analyses. Findings from estimating house price bubbles for eight capital cities suggest that there was an obvious house price bubble in Perth, while a slight house price bubble occurred in Sydney. In contrast, house prices in Adelaide and Darwin can be explained very well by market fundamentals, while house prices in Melbourne, Brisbane, Hobart and Canberra were undervalued in the study period.