Corporate political connections and the 2008 Malaysian election

We examine whether the relationship between political connections and firm value is moderated by the length of time firms have been politically connected. We find that compared to firms with political connections for a short period, firms with political connections for a long period have a smaller magnitude of negative stock price reaction to the 2008 General Election loss of the supermajority by the ruling party in Malaysia. We also find that the smaller magnitude of negative stock price reaction is, in part, attributable to improvements in board of director characteristics. Furthermore, we find that while the performance subsequent to the General Election of politically connected firms is worse than that of non-politically connected firms, firms with political connections for a long period exhibit better performance than those connected for short periods. Collectively, the evidence shows that the length of political connections is an important factor that moderates economic value.

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.

Economic transition and commercial property cycles in China

Drawn from a recently completed study, this paper aims at a better understanding of commercial property cycles in the transitional economy of China. It examines the behaviour of the property submarket system in China and considers structural changes in the socio-economic system as a primary factor in addressing the research problem. The study suggests that the underlying social and economic structure has greatly determined market behaviour. It finds that radical changes can alter the formal structure (the designed structure) of the market system, including the property market structure, but cannot alter the informal structure (i.e. the emergent structure) at the similar rate. As the study shows, cycles in the commercial property market in the economic transition is largely a key resulting feature of the continuous structural change both at formal and informal levels in a way that is often imbalanced and not always consistently changing together. The same situation also applies to the transformation of inner-city built form, which is featured by a delayed change of physical building stock against the space demand trend that is underpinned by the socio-economic transition. Put simply, there is a supply lag, mainly in the form of changing land use and building stock replacement, against economic change (the business cycle). This affects the level of effective demand for office space and hence becomes a major force in shaping current office cycles.

Transition to a low carbon footprint : a conceptual model of impacts and management for Australian businesses

Australian businesses will face profound and wide-ranging structural impacts during their transition to a low carbon footprint economy. This paper synthesizes the impacts for the firm during the transition and identifies the crucial impact variables. In doing so, it explores the link between the opportunities and benefits, costs, risks and structural changes and evaluates the challenges in managing the multiple impacts. The paper provides a conceptual model that will assist decision-makers deal with risk management or bottom-line protection issues as well as exploiting the business opportunity the new regulatory environment will produce. The model argues for a holistic corporate governance mechanism, with responsibility and accountability of climate change risk management placed with the board of directors and senior management. The literature review is presented first, followed by the discussion and the model. Future empirical research direction is also presented with the development of a series of propositions for testing.

Neuromuscular control and running economy is preserved in elite international triathletes after cycling

Running is the most important discipline for Olympic triathlon success. However, cycling impairs running muscle recruitment and performance in some highly trained triathletes; though it is not known if this occurs in elite international triathletes. The purpose of this study was to investigate the effect of cycling in two different protocols on running economy and neuromuscular control in elite international triathletes. Muscle recruitment and sagittal plane joint angles of the left lower extremity and running economy were compared between control (no preceding cycle) and transition (preceded by cycling) runs for two different cycle protocols (20-minute low-intensity and 50-minute high-intensity cycles) in seven elite international triathletes. Muscle recruitment and joint angles were not different between control and transition runs for either cycle protocols. Running economy was also not different between control and transition runs for the ow-intensity (62.4 ^ 4.5 vs. 62.1 ^ 4.0 ml/min/kg, p . 0.05) and high-intensity (63.4 ^ 3.5 vs. 63.3 ^ 4.3 ml/min/kg, p . 0.05) cycle protocols. The results of this study demonstrate that both low- and high-intensity cycles do not adversely influence neuromuscular control and running economy in elite international triathletes.

Change in running kinematics after cycling are related to alterations in running economy in triathletes

Emerging evidence suggests that cycling may influence neuromuscular control during subsequent running but the relationship between altered neuromuscular control and run performance in triathletes is not well understood. The aim of this study was to determine if a 45 min high-intensity cycle influences lower limb movement and muscle recruitment during running and whether changes in limb movement or muscle recruitment are associated with changes in running economy (RE) after cycling. RE, muscle activity (surface electromyography) and limb movement (sagittal plane kinematics) were compared between a control run (no preceding cycle) and a run performed after a 45 min high-intensity cycle in 15 moderately trained triathletes. Muscle recruitment and kinematics during running after cycling were altered in 7 of 15 (46%) triathletes. Changes in kinematics at the knee and ankle were significantly associated with the change in VO₂ after cycling (p < 0.05). The change in ankle angle at foot contact alone explained 67.1% of the variance in VO₂. These findings suggest that cycling does influence limb movement and muscle recruitment in some triathletes and that changes in kinematics, especially at the ankle, are closely related to alterations in running economy after cycling.

Political transition in Myanmar: prospects and problems

Since 2011, Myanmar has been undergoing a political transition that, in keeping with the Myanmar government's own claims, has been hailed by many previously critical countries as the start of a process of democratization. Myanmar has become a substantially more liberal country, and in particular its economy has been increasingly liberalized, away from the tight restrictions of the past. However, Myanmar's economic liberalization primarily benefits its entrenched and usually military-dominated or linked elites, while its political liberalization may be just enough to satisfy an appearance of democratization without the army giving up real power. This article looks at Myanmar's process of political liberalization set against some of the literature on political transitions, and highlights some factors that could militate against extensive reform, much less democratization. It concludes by noting that while Myanmar's military has started to step back from direct political control, it still retains ultimate state authority. © 2014 Policy Studies Organization.

The green economy agenda: business as usual or transformational discourse?

This analysis of the emergence since 2008 of the green economy agenda and the related idea of ‘green growth’ focusses upon the articulation of these discourses within key international economic and environmental institutions and evaluates whether this implies the beginning of an institutional transformation towards an ecologically sustainable world economy. The green economy may have the capacity to help animate a transition away from current socially and ecologically unsustainable patterns of economic growth only if notions of green growth can be discursively separated from green economy, strong articulations of green economy become dominant, and alternative measures of progress to gross domestic product are widely adopted. The concept of ‘rearticulation’, found in post-structural discourse theory, is proposed to guide this transition. This offers a framework to reconstruct notions of prosperity, progress, and security whilst avoiding direct and disempowering discursive conflict with currently hegemonic pro-growth discourses.

Transnational employability and the university – work transition for Australian international graduates

This dissertation focuses on the central debates surrounding the nexus of the demand for graduates in the market, the macro policy effect, and the role of university education in addressing contemporary issues related to international graduate attributes and dispositions required in workplace.