Economic indicator comparisons of international real estate sectors using the OECD input-output database

With its growing share in national economies, the real estate sector has been considered a vital contributor of economic development. Research efforts are needed in order to gain a better comprehension of the national specificities of the real estate sector and to identify its role in economic development. Due to limited comparable data, the economic indicators of real estate sectors are hard to compare between different countries. This paper aims to explore the quantitative interdependence amongst the real estate sector and other industries in developed economies using input-output analysis, and to investigate their significant linkages. Based on the recently published Organisation for Economic Co-operation and Development (OECD) input-output database at constant prices, the analysis focuses on the real estate's escalating role in terms ofshares in gross output, value added and gross national product. With emphasis on the relative role of manufacturing, construction and services inputs, this paper also highlights the strengths of the push and pull of the real estate sector.

Social innovators or lagging behind: factors that influence managers' time use

Purpose – The broad aim of this paper is to investigate whether managers in Australia allocate their time differently than other occupational groups, and the impact gender and life situation (using marital status and presence or absence of dependent children as a proxy) has on time allocation.
Design/methodology/approach – To address these broad aims, data are drawn from the 1997 Australian Time Use Survey. This is a nationally representative survey that examines how people in different circumstances allocate time to different activities. Findings – The results of this study highlight three important issues. The first is that male and female managers display different patterns of time use. Male managers' time is dominated by paid employment activities, whereas female managers' time is spent predominantly on employment and domestic activities. The second is that life situation impacts on the time use of female managers, but not male managers. The third important find of this study is that managers' time use is different to other occupational groups. Practical implications – These findings have policy implications relating to work-life balance, career progression and changes in patterns of work. In terms of work-life issues, it reveals that male and female managers face a “time squeeze”, with some evidence of a “second-shift” for female managers. In addition, the findings provide insight into the work-life issues faced by male and female managers. Originality/value – The results of this inquiry provide insight into how different individuals spend their time – insight into “lifestyles”. However, in-depth qualitative studies are required to reveal why individuals allocate their time in this way and to understand the opportunities and constraints individuals face in time allocation.

Women's art as indicator of social change

The support for feminism in Australia came not from the scientific field, where there was almost total opposition to it, but from literature, philosophy and the arts. An art museum is an arbiter of taste and a cultural building that points important ideas throughout its lifetime.

A quality indicator of Australian e-business

Organisations spend large sums of money to ensure that their electronic shopfront is as attractive, appealing and efficient as any in the real world. But what about dealing with customers? If someone has a query in the real world they would perhaps approach a sales person or telephone the organisation to obtain a response. The electronic equivalent is e-mail. Do organisations pay sufficient attention to this aspect of their electronic shopfront? The study reported here was undertaken to determine the use of e-mail within Australian organisations and, more importantly, organisations' responsiveness to e-mail
queries.

Robustness of form K of the Myers-Briggs Type Indicator in an Australian sample

Analyses of the twenty facet scores for 243 females and 394 males who undertook Form K of the Myers-Briggs Type Indicator (MBTI®) revealed strong and meaningful patterns of relationships with the four preferences. A clear factor structure of four factors emerged which had a few minor cross-loadings. It was found that the facets are distinctive and generally do not correlate with preferences other than those intended. Comparisons with USA evidence revealed patterns that were even clearer in the Australian data. The previously observed differences related to gender (as found in research on Form G) were reproduced using the Form K format. The evidence implies that the robustness of Fonl1 K with an Australian sample has been demonstrated.

Is the Genuine Progress Indicator really genuine? Considering well-being impacts of exports and imports

The Genuine Progress Indicator (GPI) is estimated as if nations operate within a closed economy. Therefore, in terms of coverage, the GPI is most analogous to Gross Domestic Product (GDP). Indeed, within the relevant literature, these two indicators are most often contrasted. However, consideration should be given to adapting the GPI, so it has more in common with Gross National Income (GNI). As with GDP, the GPI is concerned only with a particular physical location. Yet, it may be more effective if the GPI was freed from these physical boundaries in a similar manner to GNI. The GPI should be concerned more with the 'ownership' of the costs and benefits associated with economic growth than with the 'location' of those costs and benefits. Those that derive the most benefit from exploitation of the environment are often physically removed from the location of that damage. The GPI does not consider the net consumers of the negative externalities of environmental costs, merely the producers. Currently, however, the structure of the GPI allows a nation to enjoy, without penalty, the benefits of importing goods from countries which bear a disproportionately large cost of environmental degradation. This results in an overstatement of the real progress experienced by the county importing 'dirty goods'. This paper will investigate how certain GPI adjustments may be adapted to overcome this present shortcoming. However, the purpose of this paper is not only to empirically implement this new approach, but also to stimulate debate as to its potential merit.

Subjective well-being as an indicator for clinical depression

The Theory of Homeostasis posits that Subjective Well-being (SWB) is regulated by a dynamic biological mechanism, assisting to maintain a positive view of life. Further, the theory suggests that clinical depression is the loss of SWB due to the defeat of this homeostatic defence system. To test this hypothesis it was predicted that people who were diagnosed as clinically depressed with the Semi-structured Clinical Interview (SCID-1/NP) based on the DSM-IV-TR Axis 1 would have a Personal Well-being Index-Adult (PWI-A) score below the normative range (70–80% of scale maximum). Following ethical approval a sample of 146 men was obtained and each was assessed on the SCID-1/NP and on the PWI-A. Subjects diagnosed as having one of several pathologies such as post traumatic stress disorder, panic disorder, social phobia and specific phobia were found to score significantly lower on the PWI-A compared to participants who received no diagnosis. However, as the data did not discriminate between currently depressed and persons with other non-depressive psychopathologies, a Receiver Operating Characteristics (ROC) curve analysis was used to explore this data further. Results indicated that the PWI-A was significantly better than guessing in discriminating clinically depressed cases, but only just so. Therefore, while this research found support for the proposition that the loss of SWB indicated clinical depression, the PWI-A is not sufficiently specific for diagnosis, nor can it be concluded that all instances of depression is the failure of SWB.

The tsunami of independent directors - how to handle the demand

Good governance is recognized as a fundamental indicator of the success of a company. For a small- midsized company, this is particularly so, as such companies must be able to competitively demonstrate their flexibility in the face of market forces. This flexibility is the primary advantage they hold over larger firms (Dalton, Daily, Ellstrand and Johnson, 1998).

Such companies, however, can find it difficult to attract good directors (Daum and Neff, 2003) and this makes developing improved strategies of governance a challenge. Taylor, Chait and Holland suggest top directors are not attracted to small/ medium companies because "the stakes remain low, the meetings process-driven, the outcomes ambiguous, and the deliberations insular" (Taylor, Chait and Holland, 2001). We suggest that the attraction of quality directors is a uniquely impacting situation for small and mid-size firms, as it is there where additional management resources should be needed most urgently.

Directors on the boards of small-medium sized businesses are often lagging behind directors of large companies in that they are less likely to be independent external directors and are less likely to represent a diversity of attributes (Dalton, Daily, Ellstrand and Johnson, 1998). Arthur Levitt, former United States Securities and Exchange Commission Chair, describes the culture of medium sized business directorships as a "kind of a fraternity of CEOs who serve on one another's boards" (Stainburn, 2005). In addition, evidence suggests directors of small- medium businesses are often insufficiently trained for the role. Uncertain directors may, for example, be unwilling to ask crucial questions of managers before making major decisions. "Board members sometimes are made to feel that asking a thorny question or advancing an alternative opinion is disloyal to the administration" (Taylor, Chait and Holland, 2001).

Small and medium businesses, however, are a growing contributor to the national economies of countries internationally. In New Zealand, small and medium-size firms recording large GDP values, ahead of many large businesses, which makes our investigation into good governance practices of SMEs relevant to suggest areas in which these firms can improve their governance policies and practices.

We have reviewed more than 2,000 directors, executives and investors in New Zealand, making this one of the largest non-government surveys in governance. Supported by 16 large corporate organizations, such as KPMG, Business New Zealand, Simpson Grierson, Brook Asset Management, Porter Novelli, Sheffield and 'Management' Magazine, this work suggests that the current processes through which directors are selected and trained to serve on Boards of small and medium businesses needs to be altered. We are also concerned over the lack of director education and the close involvement of the Chief Executives as members of the Boards. There is a general concern over the lack of director independence and whether directors are effective in their roles.

We are recommending an alternative process for SMEs to select directors, which will hopefully expand the available pool of directors in quantity and quality.

Good governance - not just for the big boys governance in organizations in New Zealand

Good governance is recognized as a fundamental indicator of the success of a company. For a small- midsized company, this is particularly so, as such companies must be able to competitively demonstrate their flexibility in the face of market forces. This flexibility is the primary advantage they hold over larger firms (Dalton, Daily, Ellstrand and Johnson, 1998). Such companies, however, can find it difficult to attract good directors (Daum and Neff, 2003) and this makes developing improved strategies of governance a challenge. Taylor, Chait and Holland suggest top directors are not attracted to small/ medium companies because “the stakes remain low, the meetings process-driven, the outcomes ambiguous, and the deliberations insular” (Taylor, Chait and Holland, 2001). We suggest that the attraction of quality directors is a uniquely impacting situation for small and mid-size firms, as it is there where additional management resources should be needed most urgently. Directors on the boards of small-medium sized businesses are often lagging behind directors of large companies in that they are less likely to be independent external directors and are less likely to represent a diversity of attributes (Dalton, Daily, Ellstrand and Johnson, 1998). Arthur Levitt, former United States Securities and Exchange Commission Chair, describes the culture of medium sized business directorships as a “kind of a fraternity of CEOs who serve on one another's boards” (Stainburn, 2005). In addition, evidence suggests directors of small- medium businesses are often insufficiently trained for the role. Uncertain directors may, for example, be unwilling to ask crucial questions of managers before making major decisions. “Board members sometimes are made to feel that asking a thorny question or advancing an alternative opinion is disloyal to the administration” (Taylor, Chait and Holland, 2001). Small and medium businesses, however, are a growing contributor to the national economies of countries internationally. In New Zealand, small and medium-size firms recording large GDP values, ahead of many large businesses, which makes our investigation into good governance practices of SMEs relevant to suggest areas in which these firms can improve their governance policies and practices. We have reviewed more than 2,000 directors, executives and investors in New Zealand, making this one of the largest non-government surveys in governance. Supported by 16 large corporate organizations, such as KPMG, Business New Zealand, Simpson Grierson, Brook Asset Management, Porter Novelli, Sheffield and ‘Management’ Magazine, this work suggests that the current processes through which directors are selected and trained to serve on Boards of small and medium businesses needs to be altered. We are also concerned over the lack of director education and the close involvement of the Chief Executives as members of the Boards. There is a general concern over the lack of director independence and whether directors are effective in their roles. We are recommending an alternative process for SMEs to select directors, which will hopefully expand the available pool of directors in quantity and quality.