Evaluating the impact of financial literacy programs on the retirement savings of superannuation fund members

Currently, in Australia, the age pension, paid for out of Commonwealth government taxes, forms the basis of Australia’s retirement income system, however, given the reality of an ageing population has compelled the government to undertake a number of measures to shift the responsibility for saving to the individual, forcing them to accept an increasing level of responsibility for their financial decision-making. In the light of the changing retirement environment, it would be expected that Australians’ would ensure that they became financially literate, however, despite the amount of information and advice available in the market place, this is not the case, and they do not appear to be appropriately prepared for their retirement. Recognising the importance of financial literacy, an increasing number of government agencies, employers, superannuation funds and schools are implementing financial literacy programs in Australia. This article provides an overview of the impact that attending a financial education seminar has on the retirement decisions and settings of participants. Evidence is provided from this research that in the short term, providing financial education programs make a difference to an individual’s intended retirement settings. However, the impact of these education programs in changing investment behaviour is less conclusive.

The influence of locus of attribution, level of employee authority and employee concern on consumers postrecovery evaluations

This study employed a 3 x 2 x 2 full-factorial, between-subjects design experiment involving locus of attribution, concern, and the level of authority of the employee performing the recovery on consumers’ postcomplaint evaluations. The research, conducted in a restaurant context, involved a sample of 411 undergraduate students. Findings suggest that customers are less dissatisfied and more likely to revisit the restaurant when the location of the cause of the failure is internal (i.e., they are to blame). In addition, consumers are less likely to repurchase when the manager, as opposed to the waiter, is responsible for the service failure.

Correct interpretation of chemical diagrams requires transforming from one level of representation to another

17 volunteer non-major chemistry students taking an introductory university chemistry course were interviewed about their understanding of a variety of chemical diagrams. All the students' interviewed appreciated that diagrams of laboratory equipment were useful to show how to set up laboratory equipment. However students' ability to explain specific diagrams at either the macroscopic or sub-microscopic level varied greatly. The results highlighted the poor level of understanding that some students had even after completing both exercises and experiments using the diagrams. The connection between the diagrams of the macroscopic level (equipment, chemicals), the sub- microscopic level (molecular) and the symbolic level (equations) was not always considered explicitly by students. The results indicate a need for chemical diagrams to be used carefully and more explicitly to ensure learner understanding. Correspondingly, students need to interpret visual chemical diagrams using meta-visualisation skills linking the various levels of representation, and appreciating the role of the diagrams in explanations need to be developed.

Pre-service pedagogies : atorylines of responsibility and risk-taking

This paper emerges from a three year study within a core education subject in preservice teacher education classrooms in Australia. This ‘practitioner research’ (Zeichner, 1999) engaged the problematics of ‘teaching and learning‘ and ‘teacher and learner’ in a learner-centred, arts based curriculum. An abundance of storylines and positionings (Harré & van Langenhove, 1991, 1999; Harré & Slocum, 2003) were revealed; among them were storylines of ‘responsibility for teaching and learning’ and ‘risk taking in learning’
The paper provides accounts of how preservice teachers positioned themselves and others within these storylines. The shifts made by students of positioning and between storylines provide substantial argument for the use of leaner-centred, arts based curriculum. Account is also made of the ways participants persisted with positioning even when this jeopardized their own learning or that of others.

Internal audit - an Asia-Pacific profile and the level of compliance with internal auditing standards

Purpose – The purpose of this paper is to provide an overview of the profile of internal audit in five Asia-Pacific countries and investigate the usage and compliance with the Institute of Internal Auditors (IIA) International Standards for the Professional Practices of Internal Auditing (Standards) by organizations' internal audit activities (IAAs). This paper shows the differences between Australia, China, Japan, New Zealand and Taiwan. It also discusses part of the results of the Common Body of Knowledge 2006 global study conducted by the IIA.

Design/methodology/approach – The paper reports the results of a questionnaire survey sent to the global membership of the IIA in September 2006 on various aspects of internal audit practices.

Findings – The profile of internal audit differs amongst the countries with much older organizations exist in Australia, Japan and New Zealand. Respondents in New Zealand, Japan, Chinese Taiwan, China and Australia all report to have a reasonably high level of usage of Standards. However, Australia has the highest number of respondents who report that they are in full compliance of the Standards.

Originality/value – This is the first global study of internal auditors' compliance with the IIA Standards.

a7-Nicotinic acetylcholine receptors mediate an A71-42-induced increase in the level of acetylcholinesterase in primary cortical neurones

The β-amyloid protein (Aβ) is the major protein component of amyloid plaques found in the Alzheimer brain. Although there is a loss of acetylcholinesterase (AChE) from both cholinergic and non-cholinergic neurones in the brain of Alzheimer patients, the level of AChE is increased around amyloid plaques. Previous studies using P19 cells in culture and transgenic mice which overexpress human Aβ have suggested that this increase may be due to a direct action of Aβ on AChE expression in cells adjacent to amyloid plaques. The aim of the present study was to examine the mechanism by which Aβ increases levels of AChE in primary cortical neurones. Aβ₁₋₄₂ was more potent than Aβ₁₋₄₀ in its ability to increase AChE in primary cortical neurones. The increase in AChE was unrelated to the toxic effects of the Aβ peptides. The effect of Aβ₁₋₄₂ on AChE was blocked by inhibitors of α7 nicotinic acetylcholine receptors (α7 nAChRs) as well as by inhibitors of L- or N-type voltage-dependent calcium channels (VDCCs), whereas agonists of α7 nAChRs (choline, nicotine) increased the level of AChE. The results demonstrate that the effect of Aβ₁₋₄₂ on AChE is due to an agonist effect of Aβ₁₋₄₂ on the α7 nAChR.

Hail to the chief! Leadership and structural change in the level of consensus on the High Court of Australia

This article identifies structural breaks in dissenting and single opinions on the High Court of Australia and uses a recent method proposed by Caporale and Grier (2002) to examine the effect of leadership on variations in the dissent rate between 1904 and 2001. Although there has been much speculation about the effectiveness of different Chief Justices in obtaining consensus on the Court, to this point most of the evidence has been anecdotal. Our main findings are that the structural breaks that we identify coincide with major turning points in the leadership of the Court and that leadership has been important in explaining variations in the proportion of dissenting opinions on the Court.

Level of urbanization and noncommunicable disease risk factors in Tamil Nadu, India

Objective To investigate the poorly understood relationship between the process of urbanization and noncommunicable diseases (NCDs) through the application of a quantitative measure of urbanicity.

Methods We constructed a measure of the urban environment for seven areas using a seven-item scale based on data from the Census of India 2001 to develop an “urbanicity” scale. The scale was used in conjunction with data collected from 3705 participants in the World Health Organization’s 2003 STEPwise risk factor surveillance survey in Tamil Nadu, India, to analyse the relationship between the urban environment and major NCD risk factors. Linear and logistic regression models were constructed examining the relationship between urbanicity and chronic disease risk.

Findings
Among men, urbanicity was positively associated with smoking (odds ratio, OR: 3.54; 95% confidence interval, CI: 2.4–5.1), body mass index (OR: 7.32; 95% CI: 4.0–13.6), blood pressure (OR: 1.92; 95% CI: 1.4–2.7) and low physical activity (OR: 3.26; 95% CI: 2.5–4.3). Among women, urbanicity was positively associated with low physical activity (OR: 4.13; 95% CI: 3.0–5.7) and high body mass index (OR: 6.48; 95% CI: 4.6–9.2). In both sexes urbanicity was positively associated with the mean number of servings of fruit and vegetables consumed per day (P < 0.05).

Conclusion
Urbanicity is associated with the prevalence of several NCD risk factors in Tamil Nadu, India.

The interrelationship between the accumulation of lipids, protein and the level of acyl carrier protein during the development of Brassica napus L. pollen

Lipid accumulation during pollen and tapetal development was studied using cryostat sections of unfixed anthers from Brassica napus (rapeseed). Diamidino-2-henylindole (DAPI), a DNA fluorochrome, was used to stain the pollen nuclei in order to identify ten stages of pollen development in Brassica. Storage lipids (i.e. triacylglycerides) were stained using the fluorochrome Nile red. Pollen coat lipids are formed in tapetal plastids between the mid-vacuolate and early maturation pollen stages. The pollen coat components, including lipids and a proportion of the proteins, are derived from the remnants of the tapetum, after its rupture, during the second pollen mitosis. Quantitative microfluorometric analyses demonstrated four phases of lipid body accumulation or depletion in the developing pollen cytoplasm. The majority of storage lipids found in the cytoplasm of the mature pollen grain accumulated during the late vacuolate and early maturation stages when the pollen is bicellular. The level of acyl carrier protein, a protein integrally involved in lipid synthesis, was also found to be maximal in the developing pollen during the bicellular pollen stages of development. This coincided with the most active period of lipid accumulation. These data could indicate that the lipids of the pollen are synthesized in situ, by metabolic processes regulated by expression of genes in the haploid genome.

The level of representative underwriting and the underwriting costs of REIT SEOs

Purpose – The purpose of this paper is to investigate factors influencing the underwriting discount for US Real Estate Investment Trust (REIT) Seasoned Equity Offerings (SEOs).

Design/methodology/approach – The study provides new evidence on determinants of underwriting discounts with a comprehensive dataset of 783 US REIT SEOs from 1996 until June 2010. Ordinary least squares regressions are performed to estimate the effect of the level of representative underwriting along with other potential factors on underwriting discounts.

Findings – The study complements the well-documented notion of the economies of scale in SEO underwriting discounts. The equally (value) weighted underwriting discounts averaged 4.21 per cent (4.10 per cent) with a declining trend over time. The findings of this study show the statistically and economically significant negative effect of the level of representative underwriting on the underwriting discounts, as well as the significance of the structure of underwriting syndicate in determining the underwriting discounts. The findings suggest that issuers can minimize the costs of raising secondary equity capital by optimally allocating the underwriting business among the underwriters.

Originality/value – This paper adds to the international REIT SEO literature by exploring new evidence behind underwriting discounts. The study includes data before and after the REIT Modernization Act 1999 and during the recent global financial crisis period.