Neutrosophic information fusion applied to the options market

In this paper we basically make two propositions - firstly a non-linear process that is primarily fuelled by mass cognitive dissonance could generate systematic deviations between the theoretical and market prices of long-term options, and secondly such deviations are best reconciled in terms of neutrosophic rather than ruled-based reasoning, especially in the context of the users of automated trading systems designed to generate trading signals based on analysis of information  from conflicting sources.

The MORTN market orientation instrument - an empirical analysis

This paper focuses on Deshpande and Farley's (1998) MORTN market orientation instrument. Specifically, the paper investigates empirically the factor structure and reliability of the supposedly unidimensional instrument. When the MORTN instrument was tested utilising Australian organisations, a two-dimensional factor structure was found to fit the data more acceptably then the unidimensional structure proposed by Deshpande and Farley. These dimensions may be characterised as being Customer/Market Intelligence (Dimension One) and Customer Service (Dimension Two).

Sports events and the female market : an investigation of attendance motivations

Over the last five years, attendance at sports events in Australia has grown at a rate of 13%; however, male spectators outnumber female spectators by 25% (ABS 2003). Drawing on a sample of 175 female respondents from the city and suburbs of Melbourne, this study identifies and explores the factors that motivate their attendance at sports events. The results show that social dimensions as well as on site entertainment can have a strong influence in attracting a female audience and that omen will
not attend if the facilities provided are not of a high standard.

Mastering the global market

There is an urgent need to expand the number of qualified accountants in China and, particularly, the number of local accountants whose qualifications are recognized internationally. During this period of rapid transformation, the Deakin Master of Professional Accounting program, which includes the CPA Program of CPA Australia, has been developed to assist in meeting China's needs for internationally recognized accountants. The first group of students to study a new university course incorporating the CPA Australia qualification graduated at a specially convened graduation in Beijing on August 22 this year. The increasing awareness of the need for stringent corporate governance procedures and ethical business practice in the global market, as well as the need for China to develop knowledge of modern business activities, has been a priority as the course has been taught.

The information content of directors' trades: empirical analysis of the Australian market

We examine the trading activities of directors in shares of their own companies on the Australian Stock Exchange during the July-December 2005 period. We find that directors of small companies in particular earn abnormal return after both their 'Purchase' and as well as their 'Sale' trade. Directors of these companies have an uncanny ability to time the market by trading when mispricing is greatest, and are able to predict the future performance of their firms in short run. For directors of medium and large companies, we find evidence that 'Sale' trades are the ones which work as loss avoiders. Outsiders recognise to some extent that directors' trades are informative, however they are slow to incorporate the new information into prices, refuting much of the market efficiency literature.

Using sister city relationships to access the Chinese market

Purpose – The purpose of this paper is to offer a new approach for small and medium enterprises (SMEs) in Australia to engage in sustainable trade with China through the use of Sister City relationships. The reason for writing this paper is to address this research gap with the aim of influencing government policy at the national and the local level.

Design/methodology/approach – The main methods used is a historical literature review, a critical review of the effectiveness of the Sister City relationships and an examination of a special Sister City relationship between Latrobe City in Australia and the Chinese city of Taizhou.

Findings – Throughout the course of the paper it was established that Sister City relationships had been insufficiently utilized as commercial facilitators and especially SMEs in regional Australia. This was especially evident in terms of trade relations with China.

Research limitations/implications – This conceptual paper will require further research at different levels. Future research should establish what Australian sister cities with China are actually doing and how a more focused relationship utilizing SMEs in their territory might be utilized. This is clearly a limitation with this conceptual paper, which it is hoped will be overcome with new research planned by the authors.

Practical implications – The practical implications emerging from this paper is that Sister City relationships can be refocused from their current role to becoming structurally integrated into trade facilitators for SMEs in pursuing trade with China. Most Sister City relationships do not have a trade focus in the first instance. As a result of this paper we are hoping that local government policy makers and state government trade facilitators will see Sister City relationships in a new light.

Originality/value – This paper brings to attention cases of Sister City relationships which have gravitated towards a trade focus (an exception like Latrobe City) in which results are already evident. A paper of this kind is directed at governments at all levels as well as SMEs who wish to work better with government.

Considerations for performing arts organisations in a climate of transition to the open market context in Vietnam

The emergence of a global economy and culture has created a worldwide climate of change since the 1980s. These changes impact on the growth of a national economy and change the significance of sectors in society, for example the service sector, which increasingly accounts for an important part of the economy (Burbules & Torres, 2000). The arts have also been profoundly influenced by social changes, and technological development. While these changes pose new challenges for the arts, most of which struggle for financial viability in an era of globalisation, privatisation and reduced public funding, the developments also open new opportunities for arts companies/artists but require them to possess the capability to identify and adapt to change. This process underlines the necessary new capacities of arts management, arts marketing, arts leaders and artists.

Doi moi - Vietnamese economic reforms in 1986 - provided impetus for change in every sector, resulting in growth of the service sector in Vietnam (UNDP, 2002). Arts organisations in Vietnam found themselves operating in a more competitive environment, forcing them to adjust to this new economic structure. Improved Vietnamese living standards helped to create more demands for a diverse entertainment industry and allowed both the government and individuals to spend more on the arts. A new cultural policy - socialisation (somewhat equivalent to privatisation in Western countries) was implemented in the arts and cultural sector, producing for performing arts organisations (PAOs) as well as a broader cultural milieu in Vietnam, challenges of being self-sustaining but also more autonomy and greater funding diversity. Simultaneously, this led to upgraded artistic standards, improved infrastructure and higher musicians’ salaries; the latter having only experienced slow improvement during the subsidised era.

This paper investigates how social changes affected organisational operations of selected PAOs in Vietnam and Australia. The analysis of how PAOs in each country adjusted to rapid changes will provide experience for learning from each other, particularly for the Vietnamese case. These analyses provide points of discussion, comparison and implications for development of arts management training in Vietnam. Case studies, personal interviews with key participants and policy actors have been used to discern which direction performing arts management should take in order to correspond with Vietnam’s present and future economic situation and its political position in the world.

Doing business in China : how Australian companies make their decisions when entering the Chinese market

This report describes and analyses the experiences of Australian businesses which have established operations or conduct business in China, both successfully and unsuccessfully. The information was collected over the period from August to November in 2007. It involved interviews with 43 respondents from 40 different Australian businesses across both manufacturing and service industries. The project was motivated by the increasing significance of China to Australia’s economy (such as the demand for Australian iron and coal exports and the transfer of much of Australia’s manufacturing operations there) and its extraordinary growth and development over the past 10 years. Using the contemporary modes of international expansion as a framework, the research considered companies which had entered China through Wholly Owned Foreign Enterprises (WOFEs), Joint Ventures, exporting and other forms such as licensing and agents. Most of the participants had located their operations in China in the eastern region, including Shanghai, Beijing, Guanzhou, Shenzhen and Tianjin.

The impact of cultural difference when entering the Chinese market

Chinese market has been a highly preferred market for many organisations worldwide in the past twenty years. However, it is not an easy market to penetrate. Australian companies are among those Europeans and Americans who have been tackling the market with little positive results. One primary reason is that they do not appreciate the important role and impact of Chinese culture.

Changes in arts organisations under the open market economy in Vietnam

The paper examines changes in arts organisations in Vietnam under the context of changes in the arts and culture sector in Vietnam and in the world.