Development in difficult sociopolitical contexts fragile, failed, pariah preface

This edited volume explores development in the so-called 'fragile', 'failed' and 'pariah' states. It examines the literature on both fragile states and their development, and offers eleven case studies on countries ranking in the 'very high alert' and 'very high warning' categories in the Fund for Peace Failed States Index.

An analysis of the antecedents of satisfaction for superannuation fund members

The factors influencing the satisfaction of superannuation fund members are poorly understood at present, due to a paucity of research. This study looks at the relative influence that five key aspects of the offering of a mid-size Australian Superannuation Fund have on overall satisfaction. Despite the long-term nature of the product and efforts to educate members to think otherwise, short-term financial performance remains a strong influence on member satisfaction. With financial returns varying annually and to a large degree being out of the control of fund managers, the focus on this aspect as the main influence on satisfaction levels is problematic. The evidence suggests that shifting the focus of members towards longer period assessments (eg returns over the past five years) and towards aspects of the funds' offering that are points of differentiation (eg enquiry handling) is the only way to prevent large fluctuations in satisfaction levels and possible defections.

Renegotiating the pedagogical peace : a case study in online discussions for undergraduate on campus students

This paper reports an investigation into the ways in which undergraduate students, who are studying on campus, learn in online discussions. The study focuses on student strategies, and the role of text, time and place independence, peer interaction and the influence of the curriculum. It also examines the relationships between online discussions and face to face classes. The study found deep approaches to learning were widely used and were associated with constructivist learning activity, thinking and interacting online in groups in a way that adds value to the classroom, close integration with face to face activity and a positive perception of online discussions and the course as a whole. This case study confirms the relational nature of student learning in a blended learning environment.

Evaluating the impact of financial literacy programs on the retirement savings of superannuation fund members

Currently, in Australia, the age pension, paid for out of Commonwealth government taxes, forms the basis of Australia’s retirement income system, however, given the reality of an ageing population has compelled the government to undertake a number of measures to shift the responsibility for saving to the individual, forcing them to accept an increasing level of responsibility for their financial decision-making. In the light of the changing retirement environment, it would be expected that Australians’ would ensure that they became financially literate, however, despite the amount of information and advice available in the market place, this is not the case, and they do not appear to be appropriately prepared for their retirement. Recognising the importance of financial literacy, an increasing number of government agencies, employers, superannuation funds and schools are implementing financial literacy programs in Australia. This article provides an overview of the impact that attending a financial education seminar has on the retirement decisions and settings of participants. Evidence is provided from this research that in the short term, providing financial education programs make a difference to an individual’s intended retirement settings. However, the impact of these education programs in changing investment behaviour is less conclusive.

The costs of raising equity capital for closed-end fund IPOs

This article reports on some of the direct costs of raising equity capital by closed-end fund licensed investment company (LIC) initial public offerings (IPOs) in Australia from 1995 to 2005. The amount of underpricing by these IPOs is also identified. The average total direct costs amounted to a relatively low 3.4% of the capital raised, while fees paid to underwriters and/or stockbrokers was around 2.3%, to legal firms around 0.25% and to accounting firms around 0.07%. The average underpricing by these LIC IPOs was 1.3%. This article also confirms that the percentage total direct capital raising costs are inversely related to the size of the IPO and underwritten closed-end fund IPOs tend to have higher percentage total capital raising costs than those not underwritten.

Peace processes in Aceh and Sri Lanka: a comparative assessment

The 2004 tsunami provided a catalyst for peace talks over the separatist conflict in Aceh, Indonesia, leading to its eventual resolution in 2005. As Aceh was going to peaceful elections in 2006, Sri Lanka, which had also been affected by the tsunami, appeared to be returning to full-scale separatist war. This article assesses some of the underlying similarities and differences between the conflicts in Aceh and Sri Lanka. Within this, it will touch upon claims to self-determination, human rights and political participation, representation, transparency and accountability, more commonly referred to as 'democracy'. In particular, it will acknowledge these values as both challenges to the (restrictive) state, and the means of securing (nonrestrictive) state cohesion. Originating in the local and specific, these claims necessarily transcend the local and come to reflect elements of the normative global. In more concrete terms, the Aceh conflict was largely resolved by introducing greater local autonomy within a more democratic space. This paper similarly proposes that a resolution to the Sri Lanka conflict can only come about through the introduction of greater autonomy and democratic plurality. However, with conceptual and strategic hostility growing between Sri Lanka's conflicting parties, it appeared that such resolution was likely only after further protracted bloodshed.

An investigation on the risk perceptions of Australian property fund Managers

Recent empirical and analytical studies have demonstrated that downside risk appears as an intuitively appealing risk measure in which it is more consistent with investors’ behaviour. Conversely, qualitative studies into the behaviour of investors, particularly real estate investors, have been relatively limited. This study seeks to address this shortfall and aims to examine the perceptions of property fund managers towards risk. A survey was conducted to investigate the risk perceptions of property fund managers and determine whether they only require compensation for bearing with higher downside risk. The acceptance level of downside risk is also examined. The findings reveal that downside risk is more consistent with how investors individually perceive risk. However, there is also a gap between theoretical assertions and practice in which downside risk is not commonly used in the practice. The results give an insight into the knowledge base of property investors towards risk, particularly downside risk.