Ownership structure and collateral requirements: Evidence from China’s listed firms

This paper examines the effect of ownership structure on collateral requirements using a sample of China's listed firms from 2007 to 2009. We find that compared to privately controlled companies, state-controlled companies are less likely to be required to pledge collateral, and such a difference is more pronounced for firms in troubled industries. The empirical results also show that the effect of state control on collateral requirements is weaker in companies with more foreign ownership. Moreover, the effect of state control on collateral requirements is weaker in companies with more third party guarantees. Finally, we find that the effect of state control on collateral requirements is more pronounced for firms operating in regions with more government intervention.

Marketing communications for special events : analysing managerial practice, consumer perceptions and preferences

Purpose – Relatively little is known about marketing communications within the context of special events. The aim of this paper is to begin to address this gap in knowledge by analysing managerial practice, consumer perceptions and preferences in relation to marketing communications for this market offering.
Design/methodology/approach – A case study analysis of Festival Melbourne 2006 was undertaken using marketing communications collateral, ethnographic (participant observations) and interview (in-depth and focus group) data.
Findings – A centralised approach to marketing communications was adopted for this event, but was difficult to implement. In addition, it was found that the marketing communications in situ did not assist attendees to make the most of their event experiences. It was also found that research participants prefer to receive information about special events passively.
Practical implications – With the increasing levels of globalisation and standardisation in the event sector there is a need to attain a balance between centralisation and adaptation in relation to marketing communications strategies and their implementation. Furthermore, it is imperative that marketing communications are integrated across all stages of consumption.
Originality/value – This study adds to the body of knowledge about marketing communications, and more generally within events. It also adds to the debate surrounding the integration of marketing communications.

Stomach temperature records reveal nursing behaviour and transition to solid food consumption in an unweaned mammal, the harbour seal pup (Phoca vitulina)

Knowledge of milk transfer from mother to offspring and early solid food ingestions in mammals allows for a greater understanding of the factors affecting transition to nutritional independence and pre-weaning growth and survival. Yet studies monitoring suckling behaviour have often relied on visual observations, which might not accurately represent milk intake. We assessed the use of stomach temperature telemetry to monitor suckling and foraging behaviour in free-ranging harbour seal (Phoca vitulina) pups during lactation. Stomach temperature declines were analysed using principal component and cluster analyses, as well as trials using simulated stomachs resulting in a precise classification of stomach temperature drops into milk, seawater and solid food ingestions. Seawater and solid food ingestions represented on average 15.361.6% [0-40.0%] and 0.760.2% [0-13.0%], respectively, of individual ingestions. Overall, 63.7% of milk ingestions occurred while the pups were in the water, of which 13.9% were preceded by seawater ingestion. The average time between subsequent ingestions was significantly less for seawater than for milk ingestions. These results suggest that seawater ingestion might represent collateral ingestion during aquatic suckling attempts. Alternatively, as solid food ingestions (n = 19) were observed among 7 pups, seawater ingestion could result from missed prey capture attempts. This study shows that some harbour seals start ingesting prey while still being nursed, indicating that weaning occurs more gradually than previously thought in this species. Stomach temperature telemetry represents a promising method to study suckling behaviour in wild mammals and transition to nutritional independence in various endotherm species.

International sex offender registration laws : research and evaluation issues based on a review of current scientific literature

In many jurisdictions, anyone convicted of a sexual offense is required to register with police, often for life. Nine different countries have now implemented sex offender registries in an attempt to protect the public from the perceived threat posed by sexual offenders. Yet such laws have been criticized as being overly inclusive, tying up limited law enforcement resources to track many offenders who pose little risk of sexual reoffending. This paper considers the available research evidence relevant to the effectiveness of such laws for the deterrence of sexual offending and the investigation of sex crimes. It is concluded that significant gaps persist in our knowledge of whether existing laws effectively reduce sexual offending or reoffending and that large-scale, well-designed studies of the impact of sex offender registration on rates of offending, the collateral consequences to offenders and their families, and the costs of such laws are needed.

Food security: one of a number of ‘securities’ we need for a full life: an Australian perspective

Although agriculture in Australia is very productive, the current food supply systems in Australia fail to deliver healthy diets to all Australians and fail to protect the natural resources on which they depend. The operation of the food systems creates ‘collateral damage’ to the natural environment including biodiversity loss. In coming decades, Australia’s food supply systems will be increasingly challenged by resource price inflation and climate change. Australia exports more than half of its current agricultural production. Government and business are aiming to substantially increase production to bolster exports. This will increase pressure on agricultural resources and exacerbate ‘collateral’ damage to the environment. The Australian public have a deep and ongoing interest in a very wide range of issues associated with the food systems including the environment, health and sustainability. Food is something we require in order to live and a good diet is something we have to have to be healthy. For health over a life-time we need food security. However, we also require a range of other material goods and social arrangements in order to develop and flourish as human beings. And we need these other things to be secure over a life-time. Food is therefore one security among a range of other securities we need in order to flourish. The paper outlines a number of approaches, as examples, that help to identify what these other goods and arrangements might be. The approaches mentioned in this paper include human rights, national securities, human needs, authentic happiness, capabilities, sustainability and environmental ethics. The different approaches provide a way of evaluating the current situation and indicating a direction for change within the food systems that will address the problems. However, changing large systems such as those involved in food supply is difficult because inertias and vested interests make the current food supply systems resilient to change. The paper suggests that one of the first and ongoing tasks is to develop an understanding of the situation from a comprehensive social–ecological systems perspective. The paper also suggests that a practical leverage point for system change is restructuring the flow of information on the health, natural resources and biodiversity loss issues related to the food supply systems.

Seduction and demise in East Berlin: Digital prototype for an immersive opera

‘Seduction and Demise in East Berlin – a digital prototype for an immersive opera’ is a reflective case study of how digital technologies can be successfully applied to facilitate dynamic mediated partnerships and collaborations resulting in cutting-edge industry standard outcomes in the fields of design, performance and digital media. The ongoing use of online interaction throughout the development of the prototype facilitated a grammar of participation, collaboration and output between third year tertiary design students from Deakin University and independent Opera Company the Beggars Opera Co-Operative (BegOpCoOp), resulting in the achievement of positive professional outcomes for both project partners. Through this process, students at Deakin University Visual Communication Design department developed a normative working model that enabled a swift engagement with and response to the creative and strategic challenges that come with applying contemporary design practice in a current industry context. BegOpCop, as the industry partner, were able to use the digital collaborative process as a springboard to interrogate and innovate their own practice as producers of contemporary operatic repertoire and to develop exciting new digital and design-savvy creative collateral with which to seek further production partners, taking them to the next professional level as a growing arts organisation.

The relationship between psychological distress and adolescent polydrug use.

Polydrug use is relatively common among adolescents. Psychological distress is associated with the use of specific drugs, and may be uniquely associated with polydrug use. The purpose of this study was to test the association of psychological distress with polydrug use using a large adolescent sample. The sample consisted of 10,273 students aged 12-17 years from the State of Victoria, Australia. Participants completed frequency measures of tobacco, alcohol, cannabis, inhalant, and other drug use in the past 30 days, and psychological distress. Control variables included age, gender, family socioeconomic status, school suspensions, academic failure, cultural background, and peer drug use. Drug-use classes were derived using latent-class analysis, then the association of psychological distress and controls with drug-use classes was modeled using multinomial ordinal regression. There were 3 distinct classes of drug use: no drug use (47.7%), mainly alcohol use (44.1%), and polydrug use (8.2%). Independent of all controls, psychological distress was higher in polydrug users and alcohol users, relative to nondrug users, and polydrug users reported more psychological distress than alcohol users. Psychological distress was most characteristic of polydrug users, and targeted prevention outcomes may be enhanced by a collateral focus on polydrug use and depression and/or anxiety.