The world-wide spread of journalism convergence

Convergence is a likely destination for news media in many parts of the world, though the duration of the journey will vary from country to country. This paper defines convergence as well as it is possible to do so, traces its spread around the world, and describes some of the most common business models. It looks at the forces driving convergence, and factors common to the most successful converged operations. The paper also describes the uncertain scenario in Australia now the Howard government has announced plans to change media ownership laws. It ends with discussion about changes in curricula at journalism programs in the United States in the light of the spread of convergence.

Self adjusted security architecture for mobile ad hoc networks (MANETs)

In this work we present a novel security architecture for MANETs that merges the clustering and the threshold key management techniques. The proposed distributed authentication architecture reacts with the frequently changing topology of the network and enhances the process of assigning the node's public key. In the proposed architecture, the overall network is divided into clusters where the clusterheads (CH) are connected by virtual networks and share the private key of the Central Authority (CA) using Lagrange interpolation. Experimental results show that the proposed architecture reaches to almost 95.5% of all nodes within an ad-hoc network that are able to communicate securely, 9 times faster than other architectures, to attain the same results. Moreover, the solution is fully decentralized to operate in a large-scale mobile network.

The relationship between economic development and social welfare: A new adjusted GDP measure of welfare

Existing literature focuses on the issue of preparation of social welfare measurements on the basis of an unadjusted Gross Domestic Product (GDP). This paper extends this method to incorporate cost-benefit analysis of economic growth in a growing economy in calculating the adjusted GDP, termed as the cost-benefit (CB)-adjusted GDP. This approach is empirically applied to Thailand. There are stark differences between GDP per capita and CB adjusted GDP per capita rates for this period.This paper concludes that GDP can be used as an indicator of social welfare if the GDP estimates are undertaken within a cost-benefit analysis framework.

The credit spread dynamics of Latin American euro issues in international bond markets

This paper investigates two important relationships using the sovereign issues made by major Latin American economies in the international bond market: the determinants of credit spread changes using variables derived from structural and macroeconomic theory and the impact of a default episode on the underlying equilibrium dynamics. We find four significant determinants of credit spread changes: an asset and interest rate factor—consistent with structural models of credit spread pricing; the exchange rate—consistent with macroeconomic determinants and the slope of the yield curve—consistent with a business cycle effect. Also, an intra-regional analysis of sovereign yields reveals a shift in the long-run equilibrium dynamics around the Argentine default on the 23 December 2001.

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.

Evaluating the efficiencies of university faculties : adjusted data envelopment analysis

Efficiency measurement is at the heart of most management accounting functions. Data envelopment analysis (DEA) is a linear programming technique used to measure relative efficiency of organisational units referred in DEA literature as decision making units (DMUs). Universities are complex organisations involving multiple inputs and outputs (Abbott & Doucouliagos, 2008). There is no agreement in identifying and measuring the inputs and outputs of higher education institutes (Avkiran, 2001). Hence, accurate efficiency measurement in such complex institutes needs rigorous research.

Prior DEA studies have investigated the application of the technique at university (Avkiran, 2001; Abbott & Doucouliagos, 2003; Abbott & Doucouliagos, 2008) or department/school (Beasley, 1990; Sinuany-Stern, Mehrez & Barboy, 1994) levels. The organisational unit that has control and hence the responsibility over inputs and outputs is the most appropriate decision making unit (DMU) for DEA to provide useful managerial information. In the current study, DEA has been applied at faculty level for two reasons. First, in the case university, as with most other universities, inputs and outputs are more accurately identified with faculties than departments/schools. Second, efficiency results at university level are highly aggregated and do not provide detail managerial information.

Prior DEA time series studies have used input and output cost and income data without adjusting for changes in time value of money. This study examines the effects of adjusting financial data for changes in dollar values without proportional changes in the quantity of the inputs and the outputs. The study is carried out mainly from management accounting perspective. It is mainly focused on the use of the DEA efficiency information for managerial decision purposes. It is not intended to contribute to the theoretical development of the linear programming model. It takes the view that one does not need to be a mechanic to be a good car driver.

The results suggest that adjusting financial input and output data in time series analysis change efficiency values, rankings, reference set as well as projection amounts. The findings also suggest that the case University could have saved close to $10 million per year if all faculties had operated efficiently. However, it is also recognised that quantitative performance measures have their own limitations and should be used cautiously.

'By the facts we add to our store' : Lorimer Fison, Lewis Henry Morgan and the spread of kinship studies in Australia

The formal study of kinship was introduced to the South Pacific Islands and the Australian colonies by Methodist missionary Lorimer Fison who distributed schedules and collected kinship data from around the region in collaboration with the founder of Anthropology in America, Lewis Henry Morgan. This article is a sequel to H. Gardner, 2008 'The origins of kinship in Oceania', Oceania, 78:2, 137-150. It traces Lorimer Fison's return to the Australian colonies from his mission post in Fiji and the subsequent spread of kinship schedules to settlers, missionaries and administrators around Australia. Based on unpublished correspondence, the article investigates Fison's gradual disillusionment with Morgan's evolutionist hypothesis of the development of the human family and his disdain for the speculation of much metropolitan anthropology in the 1870s.

A novel pseudonoise sequence for time-spread echo based audio watermarking

This paper deals with the problem of digital audio watermarking using echo hiding. Compared to many other methods for audio watermarking, echo hiding techniques exhibit advantages in terms of relatively simple encoding and decoding, and robustness against common attacks. The low security issue existing in most echo hiding techniques is overcome in the timespread echo method by using pseudonoise (PN) sequence as a secret key. In this paper, we propose a novel sequence, in conjunction with a new decoding function, to improve the imperceptibility and the robustness of time-spread echo based audio watermarking. Theoretical analysis and simulation examples illustrate the effectiveness of the proposed sequence and decoding function.

A novel bipolar time-spread echo hiding based watermarking method for stereo audio signals

In this paper, a novel bipolar time-spread (TS) echo hiding based watermarking method is proposed for stereo audio signals, to overcome the low robustness problem in the traditional TS echo hiding method. At the embedding, echo signals with opposite polarities are added to both channels of the host audio signal. This improves the imperceptibility of the watermarking scheme, since added watermarks have similar effects in both channels. Then decoding part is developed, in order to improve the robustness of the watermarking scheme against common attacks. Since these novel embedding and decoding methods utilize the advantage of two channels in stereo audio signals, it significantly reduces the interference of host signal at watermark extraction which is the main reason for error detection in the traditional TS echo hiding based watermarking under closed-loop attack. The effectiveness of the proposed watermarking scheme is theoretically analyzed and verified by simulations under common attacks. The proposed echo hiding method outperforms conventional TS echo hiding based watermarking when their perceptual qualities are similar.

Effective pseudonoise sequence and decoding function for imperceptibility and robustness enhancement in time-spread echo-based audio watermarking

This paper proposes an effective pseudonoise (PN) sequence and the corresponding decoding function for time-spread echo-based audio watermarking. Different from the traditional PN sequence used in time-spread echo hiding, the proposed PN sequence has two features. Firstly, the echo kernel resulting from the new PN sequence has frequency characteristics with smaller magnitudes in perceptually significant region. This leads to higher perceptual quality. Secondly, the correlation function of the new PN sequence has three times more large peaks than that of the existing PN sequence. Based on this feature, we propose a new decoding function to improve the robustness of time-spread echo-based audio watermarking. The effectiveness of the proposed PN sequence and decoding function is illustrated by theoretical analysis, simulation examples, and listening test.

The spread and uptake of diabetes prevention programs around the world : a case study from Finland and Australia

Type 2 diabetes is a major public health issue in most countries around the world. Efficacy trials have demonstrated that lifestyle modification programs can significantly reduce the risk of type 2 diabetes. Two key challenges are: [1] to develop programs that are more feasible for “real world” implementation and [2] to extend the global reach of such programs, particularly to resource-poor countries where the burden of diabetes is substantial. This paper describes the development, implementation, and evaluation of such “real world” programs in Finland and Australia, the exchange between the two countries, and the wider uptake of such programs. Drawing on the lessons from these linked case studies, we discuss the implications for improving the “spread” of diabetes prevention programs by more effective uptake of lifestyle change programs and related strategies for more resource-poor countries and settings.