Should we refinance unfunded social security?

Within a continuous-time overlapping generations model, featuring endogenous intensive margin of the labour supply and retirement decision, we analyse the issue of passing the burden of payroll revenues onto consumption or capital. We find that large long-run welfare gains occur when pension benefits are refinanced by consumption taxes. However, the transition to the new steady state is very painful for a large fraction of existing cohorts. On the other hand, the capital base is too small to sustain pension benefits but could be made larger if capital taxes are raised. Yet that would entail significant welfare losses.

Towards real shareholder participation in contemporary corporate governance

Enhanced shareholder participation in large public companies in Australia has not gone far enough.  Shareholders need to be given the opportunity to contribute to the forming of company decisions and strategies.  One proposal is to require that directors themselves be shareholders. A second proposal mandates shareholder committees in public companies.

An efficient replicated data management approach for peer-to-peer systems

The availability of critical services and their data can be significantly increased by replicating them on multiple systems connected with each other, even in the face of system and network failures. In some platforms such as peer-to-peer (P2P) systems, their inherent characteristic mandates the employment of some form of replication to provide acceptable service to their users. However, the problem of how best to replicate data to build highly available peer-to-peer systems is still an open problem. In this paper, we propose an approach to address the data replication problem on P2P systems. The proposed scheme is compared with other techniques and is shown to require less communication cost for an operation as well as provide higher degree of data availability.

An authentication framework for e-health systems

The high-level sensitivity of medical information mandates stronger authentication and authorization mechanisms to be used in e-Health systems. This paper describes the design and implementation of certificate-based e-Health authentication and authorization architecture. This architecture was developed to authenticate e-Health professionals accessing shared clinical data among a set of affiliated health institutions based on peer-to- peer networks. The architecture had to accommodate specific medical data sharing and handling requirements, namely the security of professionals' credentials.

Investor perception of the business case for sustainable office buildings : evidence from New Zealand

Over recent years the global market for sustainable commercial property has been growing in importance, with rapid growth occurring overseas that has led to substantial changes in the property markets. The New Zealand property industry has been recently introduced to the concept of sustainability, and although still at an early stage is already noticing the accelerating uptake of sustainability in the industry. Although certain measures have been taken by the New Zealand Green Building Council and government mandates, there remains still a common assumption that there is considerable hesitation and skeptism in the market from both an investor’s and a building owner’s perspective.

The research presented in this paper reports on the results of an investigation into the market perception toward sustainable buildings from the investment community in New Zealand. Property developers and investors from New Zealand were surveyed about their perception of sustainable buildings in New Zealand and their actions with regards to their own commercial portfolios, as well as the impact sustainability is having upon investment decisions. This paper presents the results of research conducted into the relationship between the elements of sustainability and the market value of an office building. The paper provides an insight into the rapidly evolving area of sustainability and office buildings, with the emphasis placed on the valuation process that seeks to assess a hypothetical purchaser’s perspective of this relationship.

Educational reform in North Cyprus : towards the making of a nation/state?

The Turkish Republic of North Cyprus (TRNC) aspires to take its place in Europe and the global ‘knowledge economy’. In order to do so, it needs not only to be politically recognised as legitimate and to develop the kinds of economic and governance structures that signify a functional state, but also to produce a cultural imaginary of itself as a nation. In this paper, we mobilise Appadurai’s theorisation of deterritorialisation, flows and context generation in order to examine the ways in which the implementation of educational reforms inTRNC might contribute to this ambition.We show that the ethnoscape and financescape combine to make education reform difficult, with specific challenges arising from the mixed commitment of the workforce, the capacity of the education bureaucracy to align support with policy mandates, and the ‘fit’ between the policy and local needs. We conclude by suggesting that TRNC faces the dilemma of working with cultural heterogeneity: Appadurai identifies this as a key ideoscape challenge for all nation/states.

Dynamic due diligence : an entrepreneurial business planning method for evaluating mergers and acquisitions: theory, case application and general implications

This paper presents a method for conducting dynamic due diligence to evaluate Mergers and Acquisitions; demonstrates its effectiveness in a particular case; and extrapolates its theoretical and practical implications to the general case. It may be called the ‘ECIPP’ method - an acronym for: Establishing mandates; Creating projections; Identifying issues; Prioritizing procedures and Performing them.

Two established alternative due diligence methods are examined. The prevailing finance-theory-based procedure has the virtues of simplicity and elegance; the vice is abstraction. The prevailing practitioner-based regime has the virtues of thoroughness and concreteness but the vices of rigidity and inefficiency. Resolving the tradeoffs inherent in both static prescriptions provides an opportunity for a dynamic, innovative approach derived from grounded theory and an application of Hindle’s (1993) theory of venture renaissance through application of an enhanced paradigm of Entrepreneurial Business Planning. The ECIPP method retains simplicity, concreteness and thoroughness but eliminates abstraction, rigidity and inefficiency.

This is demonstrated in a case. ChildCo’s CEO had only one month to complete his M&A evaluation; no expertise or previous experience; severely limited budget for the exercise and had been flatly informed by prevailing M&A experts that what he wanted could not be done. Using the ECIPP method, the CEO and the author did it: on time, within budget and to the satisfaction of a previously skeptical board of one of the world’s largest multi-national companies including arguably the world’s most professional corporate M&A division.

The replicability logic of the case research permits two generalisations. (1) ECIPP extends the range and utility of Entrepreneurial Business Planning as a management technology, well beyond the constraints to which it is usually confined. (2) The ECIPP method of dynamic due diligence is an innovation worthy of mature consideration and further investigation by theorists and practitioners in the M&A field, in the disciplines of both Finance and Entrepreneurship and, well beyond, in the realms of general management theory, methodology and practice.

How to write an unsuccessful entrepreneurial business plan : content analysis of the normative literature reveals a flawed paradigm

The study's aim was to investigate whether an Entrepreneurial Business Planning (EBP) paradigm could be discovered as a body of core, common maxims within the normative EBP literature (works of the 'how-to-write-a-successful-new-venture-business-plan' genre). It employed content analysis techniques adapted mainly from the methodological prescriptions of Krippendorf (1980) and Carney (1972). The textual investigation produced a comprehensive, quantitative data base capable of sufficient interpretative richness to discover that an established Entrepreneurial Business Planning paradigm does exist. Its major elements embrace two key assumptions, four strong mandates and four weaker mandates.

The discovery is significant for two main reasons. First, it provides a formally-researched, explicitly-articulated EBP paradigm. This can replace the anecdotal, unarticulated assumption (implicit in most of the normative EBP literature) that an EBP paradigm 'probably exists'. Second, the research redresses some of the imbalance between entrepreneurship teaching- where Entrepreneurial Business Planning is at the core of international curricula - and entrepreneurship research which has virtually ignored EBP as a topic worthy of serious scrutiny. A firm basis for critical, scholarly exploration of the neglected EBP field is now established. This takes the theory and practice of EBP into a new era beginning with recognition that the discovered EBP paradigm is badly flawed and likely, if blindly applied, to lead to the writing of unsuccessful business plans.

Seeing 'things' differently : recognition, ethics, praxis

This essay focuses on the recent introduction by the Australian Federal Government of standardised literacy testing in all states across Australia (that is, the National Assessment Program – Literacy and Numeracy, or NAPLAN), and explores the way this reform is mediating the work of English literacy educators in primary and secondary schools. We draw on data collected as part of a research project funded by the Australian Research Council, involving interviews with teachers about their experiences of implementing standardised testing. These interviews indicate that the introduction of standardised testing does not merely constitute an additional part of teachers” workloads, but that it is having a significant impact on their identity as language educators, their understanding of curriculum and pedagogy, and the relationships they seek to maintain with their students. By introducing the NAPLAN tests, the Australian Federal Government is going down the path of other neo-liberal governments around the world. No doubt the story we tell will be familiar to readers in other countries. Our aim, however, is more than simply to give yet another account of the tensions experienced by committed language and literacy teachers as they implement neoliberal policy mandates. Key questions for us include: Why is the Australian government persisting with such policies, even when they have had such dubious consequences (teaching to the test, dumbing down, and so on.) in other national settings? How might educators resist these reforms? What intellectual resources might enable us to articulate an alternative vision of language education to that imposed by neoliberal reforms?
We present an account of conversations with a group of teachers in a primary school in the northern suburbs of Melbourne, not in order to make large claims about how the profession in Australia as a whole judges standards based reforms, but because their talk prompts reflection about the possibility of resisting such policy initiatives. Our impulse is largely a philosophical one – we are raising questions about how neoliberal reforms construct teachers and their students, what they presuppose about the nature of life and its potential, and how educators might dissent from the world view that is being imposed. And rather than simply investigating how teachers are grappling with standards-based reforms, as though it is yet again a matter of putting teachers under the spotlight, we also raise questions about the responsibility of academics and teacher educators to maintain a critical standpoint within the policy environment created by such changes.

The impact of learning in the workplace policy on differing ICT degrees

At Victoria University, the release of a new Learning in the Workplace and Community (LiWC) policy has been introduced to ensure that graduates are job and career ready. The policy underlines the importance of workplace contextual learning in all course deliveries and is scheduled for progressive implementation by 2010. For each degree, the policy mandates that a minimum of 25% of program content and assessment must be related to work integrated learning.

Compliance with the 25% shift poses significant challenges for its implementation upon all undergraduate programs since the policy is expected to impact upon program structures, unit deliveries, assessment practices, and course administrations. In particular, there has been an extensive review of existing approaches to learning and teaching in the programs that deliver information and communications technology (ICT) degrees across business and science faculties. This paper describes the current Bachelor of Science in Computer Science and Bachelor of Business in Information Systems programs identifying similarities and differences between the two offerings with respect to their learning in workplace components. It explores possible synergies between the two programs that could be capitalized upon to implement the LiWC policy and details the challenges to both faculties in mounting a coordinated response.

ERA distribution of information systems journals

The Excellence in Research for Australia (ERA) initiative being conducted by the Australian Research Council (ARC), mandates a single journal and conference ranking scheme over every academic discipline in Australia. A universal publication outlet ranking list mandated by a government agency is unique and has attracted interest and comment both within Australia and overseas. Equally, the interest shown has come from all sectors involved in academic publishing – authors, reviewers, publishers – and from commercial and open access publishers. This paper investigates the distribution of information systems journals over the various ERA parameters and comments on a claim of bias whereby the ranking of a journal is positively influenced by the number of years it has been in existence in the areas of information systems and business journals. Clear evidence of the diversity of the information systems discipline is observed. The benefits of a multidisciplinary foundation for information systems is also noted. Longer established journals are shown to attract higher rankings and possible reasons for and implications flowing from this are discussed.

Standards-based accountability : reification, responsibility and the ethical subject

Over the last two decades, teachers in Australia have witnessed multiple incarnations of the idea of ‘educational accountability’ and its enactment. Research into this phenomenon of educational policy and practice has revealed various layers of the concept, particularly its professional, bureaucratic, political and cultural dimensions that are central to the restructuring of educational governance and the reorganization of teachers’ work. Today, accountability constitutes a core concept of neoliberal policy-making in education, both fashioning and normalizing what counts as teacher professionalism in the ‘audit society.’ This article focuses specifically on the recent introduction by the Australian Federal Government of standardised literacy testing in all states across Australia, and raises questions about the impact of this reform on the work practices of English literacy teachers in primary and secondary schools. We draw on data collected as part of a major research project funded by the Australian Research Council, involving interviews with teachers about their experiences of implementing standardised testing. The article traces the ways in which teachers’ work is increasingly being mediated by standardised literacy testing to show how these teachers grapple with the tensions between state-wide mandates and a sense of their professional responsibility for their students.

An approach to faulty reader detection in RFID reader network

Radio Frequency Identification (RFID) technology is becoming increasingly popular as an automated tool for object monitoring and identification in a cost-efficient manner. RFID systems are made up of heterogeneous components consisting of both hardware and software. RFID components such as the readers are prone to failures with serious consequences to the overall system. Thus, issues such as reliability and dependability of RFID systems are receiving attention recently. This mandates fault management that includes monitoring the health of RFID readers and accessing the RFID reader configurations remotely. Therefore, an approach that detects the faulty readers with the aim to minimize the impacts of the faulty readers on the system reliability and dependability is of paramount importance. In this chapter, the authors discuss an approach to detect faulty readers in networked RFID system environments. Performance evaluation of the approach against other techniques is presented and shows that it performs reasonably well in the presence of faulty readers.

A conversation analysis of the Iranian youths' written chats of English

The ever-increasing application of computer and internet mandates a longer domain for computer-mediated-communication (CMC). Internet chat as a principal feature of CMC has attracted tremendous attention among the youths in recent years. Thus, this study has focused on the written chats of 100 Iranian university students majoring in different disciplines. We analyzed 400 chat samples (composed of 4000 moves) in terms of opening and continuing speech functions based on Eggins and Slade’s (1997) model of casual conversation. We also examined humor and paralinguistic features based on taxonomies of Huffaker and Calvert (2005) and Nastri, Pen a, and Hancock (2006). Among the various types of speech functions, nine opening speech functions, seven continuing speech functions and four humor and paralinguistic features were investigated. The analysis of the data shows that the salient opening speech function has been‘ statement: opinion’ which provides attitudinal and evaluative information. Additionally, the outstanding types of continuing speech functions are ‘prolong: extend’, ‘prolong: enhance’, and ‘append: elaborate’. Therefore, it is in order for the participants to offer additional or contrasting information to the previous move or qualify it by giving details of time, place, condition, etc. Moreover, in case of interruption by the other chatter, the participants mostly tend to clarify, exemplify or reiterate the previous move. Furthermore, the participants produced irony, as a humorous element, in a great volume which is indicative of their tendency toward being indirect during conversation. The subjects also used many paralinguistic features such as misspellings and repeated punctuations in order to express their emotions and attract their partners’ attention in the absence of verbal communication.