Disclosure, conservatism and the cost of equity capital : a review of the foundation literature

In this review piece, we survey the literature on the cost of equity capital implications of corporate disclosure and conservative accounting policy choice decisions with the principle objective of providing insights into the design and methodological issues, which underlie the empirical investigations. We begin with a review of the analytical studies most typically cited in the empirical research as providing a theoretical foundation. We then turn to consider literature that offers insights into the selection of proxies for each of our points of interest, cost of equity capital, disclosure quality and accounting conservatism. As a final step, we review selected empirical studies to illustrate the relevant evidence found within the literature. Based on our review, we interpret the literature as providing the researcher with only limited direct guidance on the appropriate choice of measure for each of the constructs of interest. Further, we view the literature as raising questions about both the interpretation of empirical findings in the face of measurement concerns and the suitability of certain theoretical arguments to the research setting. Overall, perhaps the message which is most clear is that one of the most controversial and fundamental issues underlying the literature is the issue of the diversifiability or nondiversifiability of information effects.

Aspiration levels and educational choices: An experimental study

The explanation of social inequalities in education is still a debated issue in economics. Recent empirical studies tend to downplay the potential role of credit constraint. This article tests a different potential explanation of social inequalities in education, specifically that social differences in aspiration level result in different educational choices. Having existed for a long time in the sociology of education, this explanation can be justified if aspiration levels are seen as reference points in a prospect theory framework. In order to test this explanation, this article applies the method of experimental economics to the issue of education choice and behaviour. One hundred and twenty-nine individuals participated in an experiment in which they had to perform a task over 15 stages grouped in three blocks or levels. In order to continue through the experiment, a minimum level of success was required at the end of each level. Rewards were dependent on the final level successfully reached. At the end of each level, participants could either choose to stop and take their reward or to pay a cost to continue further in order to possibly receive higher rewards. To test the impact of aspiration levels, outcomes were either presented as gains or losses relative to an initial sum. In accordance with the theoretical predictions, participants in the loss framing group choose to go further in the experiment. There was also a significant and interesting gender effect in the loss framing treatment, such that males performed better and reached higher levels.

(Re)focusing the Lens to Make Diversity and Difference Visible : Teaching for Quality and Equity

Despite the evidence that Australia’s children are learning literacy, there is also significant evidence that the poorest and most disadvantaged children are being left behind. To date our understanding of the place of transitions in this has been limited, although there has been work on the fourth grade slump (Gee, 2000, 2008), the transition from primary years to secondary years (e.g. Bahr & Pendergast, 2007; Pendergast & Bahr, 2005, 2010), and transitions when changing schools (Henderson, 2008). In this chapter, we consider the notion of transitioning, as we unpack issues related to recognising and valuing student diversity and difference. We want to highlight ways of providing high quality and high equity literacy pedagogy and literacy outcomes for middle years students. We will also discuss the importance of recognising that students transit to schools and school learning from other significant contexts, each with their own combinations of literacy practices, rituals and values.

Evaluating educational software : a historical overview and the challenges ahead

Teachers are under increasing pressure from government and school management to incorporate technology into lessons. They need to consider which technologies can most effectively enhance subject learning, encourage higher order thinking skills and support the performance of authentic tasks. This chapter reviews the practical and theoretical tools that have been developed to aid teachers in selecting software and reviews the software assessment methodologies from the 1980s to the present day. It concludes that teachers need guidance to structure the evaluation of technology, to consider its educational affordances, its usability, its suitability for the students and the classroom environment and its fit to the teachers’ preferred pedagogies.

Gender equity in the professoriate : a cohort study of new women professors in Australia

According to statistics and trend data, women continue to be substantially under- represented in the Australian professoriate, and growth in their representation has been slow despite the plethora of equity programs. While not disputing these facts, we propose that examining gender equity by cohort provides a complementary perspective on the status of gender equity in the professoriate. Based on over 500 survey responses, we detected substantial similarities between women and men who were appointed as professors or associate professors between 2005 and 2008. There were similar proportions of women and men appointed via external or internal processes or by invitation. Additionally, similar proportions of women and men professors expressed a marked preference for research over teaching. Furthermore, there were similar distributions between the genders in the age of appointment to the professoriate. However, a notable gender difference was that women were appointed to the professoriate on average 1.9 years later than mens. This later appointment provides one reason for the lower representation of women compared to men in the professoriate. It also raises questions of the typical length of time that women and men remain in the (paid) professoriate and reasons why they might leave it. A further similarity between women and men in this cohort was their identification of motivation and circumstances as key factors in their career orientation. However, substantially more women identified motivation than circumstances and the situation was reversed for men. The open-ended survey responses also provided confirmation that affirmative action initiatives make a difference to women’s careers.

Entrepreneurial becoming : an educational pathway out of poverty

This paper reports a longitudinal analysis of 20 necessity driven micro-entrepreneurs operating in Beira, Central Mozambique, who received funding and training from the same NGO to establish or grow their business activities and reports the development of these entrepreneurs in terms of their acquired entrepreneurial potential for long-term success. The results indicate there is a process of entrepreneurial becoming that is not just about access to finance but especially learning and, when successful, this process supports the transformation of survival micro-enterprises into entrepreneurial micro-businesses. The concept of ‘becoming’ contains an implicit temporal dimension. Becoming suggests a transformation over time: a change from what one is already. In this study, we witness a significant change in understanding how a business needs to operate, in recognizing opportunities, thinking more creatively, and building self-confidence.

Applying a social justice framework to ensure good practice in monitoring student learning engagement

A current Australian Learning and Teaching Council (ALTC) funded action research project aims to provide a set of practical resources founded on a social justice framework, to guide good practice for monitoring student learning engagement (MSLE) in higher education. The project involves ten Australasian institutions, eight of which are engaged in various MSLE type projects. A draft framework, consisting of six social justice principles which emerged from the literature has been examined with reference to the eight institutional approaches for MSLE in conjunction with the personnel working on these initiatives during the first action research cycle. The cycle will examine the strategic and operational implications of the framework in each of the participating institutions. Cycle 2 will also build capacity to embed the principles within the institutional MSLE program and will identify and collect examples and resources that exemplify the principles in practice. The final cycle will seek to pilot the framework to guide new MSLE initiatives. In its entirety, the project will deliver significant resources to the sector in the form of a social justice framework for MSLE, guidelines and sector exemplars for MSLE. As well as increasing the awareness amongst staff around the criticality of transition to university (thereby preventing attrition) and the significance of the learning and teaching agenda in enhancing student engagement, the project will build leadership capacity within the participating institutions and provide a knowledge base and institutional capacity for the Australasian HE sector to deploy the deliverables that will safeguard student learning engagement At this early stage of the project the workshop session provides an opportunity to discuss and examine the draft set of social justice principles and to discuss their potential value for the participants’ institutional contexts. Specifically, the workshop will explore critical questions associated with the principles.

Developing a social justice framework to ensure good practice in higher education

The concept of student engagement is a key factor in student achievement and retention and Australasian universities have a range of initiatives aimed at monitoring and intervening with students who are at risk of disengaging. Given the aspirations about widening participation, it is absolutely critical that these initiatives are designed to enable success for all students, particularly those for whom social and cultural disadvantage have been a barrier. Consequently, these types of initiatives must be consistent with the concept of social justice and a set of principles would provide this philosophical foundation for the sector. An Australian Learning and Teaching Council (ALTC) project that involves ten Australasian universities, is designing of a suite of resources for the sector which will include: (1) a set of principles for good practice in MSLE, (2) a good practice guide for the design and implementation of institutional MSLE policy and practice, and (3) a collection of resources for and exemplars of good practice to be taken up by the sector. This workshop session will provide an opportunity for participants to examine the draft set of principles and to discuss their potential value for the participants’ institutional contexts. Australian Learning and Teaching Council Competitive Grant CG10-1730 2010-2012: Good practice for safeguarding student learning engagement in higher education institutions.

The QUTeach@Redcliffe program

The QUTeach@Redcliffe program enables senior secondary students from a disadvantaged region of Queensland to commence teacher education degrees while completing school. Introduced in mid-2008, QUTeach is a collaboration between Queensland University of Technology and Queensland’s Bays Cluster of State High Schools. It is currently in pilot form. The program emerged as the result of equity concerns in relation to students who face barriers to university entrance, in terms of social, racial or financial disadvantage. It was also motivated by a desire to generate a stream of new teachers who come from the region and understand its circumstances, and who can relate well to the school students they teach. Rather than learning as individuals on a university campus, students in the program are taught as a class so that they can learn from one another as well as from their instructors. The classes are conducted two evenings per week on the premises of Redcliffe State High School, which is more familiar and easier to access than the university campus. However, the students also attend the QUT’s Kelvin Grove campus one or two days each semester to familiarise themselves with the university environment and participate in lectures on campus.

Augmenting mobile computing with video game elements to support, motivate and engage young people in educational, real-world events

Video games have shown great potential as tools that both engage and motivate players to achieve tasks and build communities in fantasy worlds. We propose that the application of game elements to real world activities can aid in delivering contextual information in interesting ways and help young people to engage in everyday events. Our research will explore how we can unite utility and fun to enhance information delivery, encourage participation, build communities and engage users with utilitarian events situated in the real world. This research aims to identify key game elements that work effectively to engage young digital natives, and provide guidelines to influence the design of interactions and interfaces for event applications in the future. This research will primarily contribute to areas of user experience and pervasive gaming.

Educational change and youth voice: Informing school action on cyberbullying

Change is a regular part of school life. Educational innovations are constantly being implements in order to benefit students, improve outcomes and meet the obligations and accountability demands of governments. Rapid social and technological change has occurred within and around schools during the past 15 or more years, impacting upon curricula and pedagogies. Simultaneously, there has been a trend towards incorporating youth voice, where young people share in the decisions that will impact on their school experiences (Mitra, 2008a, 2004). Most recently, with the advent of the first National Australian Curriculum (McGaw, 2010), there is an imposed curriculum change, which reflects the growing global trend towards centralised control over what students learn in school (Zhao, 2011) and highlights that schools have to respond to change from all levels. Spears (in press) also notes that parents are raising children in an increasingly wireless world which is far removed from the one in which they were raised. Educators are teaching in schools that are vastly different technologically from those they knew as children and adolescents, or even those in which they were teaching a decade ago. Children born in 1995, the year when the Internet was first commercialised, are 16 years old in 2011 and, whilst parents may have embraced technological advances in their own adult working or social lives, they are yet to fathom fully what it means for their children and their relationships: to be educated and to socialise in the midst of mobile social media. Young people have greater access to more information than at any time past and move seamlessly between online and offline environments, often referring to them as ‘the same life’ (Spears, Kofoed, Bartolo, Palermiti and Castabile, in press). Along with these changes has come the transformation of traditional forms of bullying to cyberbullying, amid the public perception that bullying generally is becoming worse in schools.

‘Please leave your mobile phone on’ : Social educational networking in a social society : Encouraging in-class engagement at QUT across physical and virtual learning environments

Though stadium style seating in large lecture theatres may suggest otherwise, effective teaching and learning is a not a spectator sport. A challenge in creating effective learning environments in both physical and virtual spaces is to provide optimal opportunity for student engagement in active learning. Queensland University of Technology (QUT) has developed the Open Web Lecture (OWL), a new web-based student response application, which seamlessly integrates a virtual learning environment within the physical learning space. The result is a blended learning experience; a fluid collaboration between academic and students connected to OWL via the University’s Wi-Fi using their own laptop or mobile web device. QUT is currently piloting the OWL application to encourage student engagement. OWL offers opportunities for participants to: • Post comments and questions • Reply to comments
 • "Like" comments
 • Poll students and review data • Review archived sessions. Many of these features instinctively appeal to student users of social networking media, yet avail the academic of control within the University network. Student privacy is respected through a system of preserving peer-peer anonymity, a functionality that seeks to address a traditional reluctance to speak up in large classes. The pilot is establishing OWL as an opportunity for engaging students in active learning opportunities by enabling • virtual learning in physical spaces for large group lectures, seminar groups, workshops and conferences • live collaborative technology connecting students and the academic via the wireless network using their own laptop or mobile device • an non- intimidating environment in which to ask questions • promotion of a sense of community • instant feedback • problem based learning. The student and academic response to OWL has been overwhelmingly positive, crediting OWL as an easy to use application, which creates effective learning opportunities though interactivity and immediate feedback. This poster and accompanying online presentation of the technology will demonstrate how OWL offers new possibilities for active learning in physical spaces by: • providing increased opportunity for student engagement • supporting a range of learners and learning activities • fostering blended learning experiences. The presentation will feature visual displays of the technology, its various interfaces and feedback including clips from interviews with students and academics participating in the early stages of the pilot.