An analysis of the timeliness and nature of profit warnings in the aftermath of the Global Financial Crisis

The global financial crisis (GFC) has severely impacted the financial position and performance of many companies internationally. Because of its severity and associated increase in uncertainty it challenges the effectiveness of existing disclosure regulation. Australia provides a unique environment in which to test the effects of the GFC on corporate disclosure because statutory rules mandate the timely disclosure of ‘price-sensitive’ information (ASX Rule 3.1) by listed entities. Exploiting this institutional setting we investigate the determinants and timeliness of profit warnings issued by the top 500 ASX-listed firms with profit declines in the 2009 fiscal year. Our findings show that firms behave differently with regard to the issuance of profit warnings: larger and more indebted firms are more likely to issue a profit warning and tend to be timelier; surprisingly, poorer performing firms tend to release the news more quickly and this might be attributed to an increasing threat of litigation. Our analysis of profit warning determinants shows interesting results with the presence of asset impairments hindering the early disclosure of profit warnings. Our findings are novel for two main reasons: first, we provide insights into the impact of global financial crisis on profit warning behaviour; second, we are the first to examine the differential impact of alternative features of profit warnings on disclosure timeliness. The findings have implications for regulators in determining compliance with continuous disclosure rules and more broadly, for market participants in interpreting profit warnings.

The nature of errors made by drivers [Austroads Publication no: AP-R378-11]

It is important that we understand the factors and conditions that shape driver behaviour – those conditions within the road transport system that contribute to driver error and the situations where driver non-compliance to road regulations is likely. This report presents the findings derived from a program of research investigating the nature of errors made by drivers, involving a literature review and an on-road study. The review indicates that, despite significant investigation, the role of different error types in road traffic crashes remains unclear, as does the role of the wider road transport system failures in driver error causation.

Profiling the nature and context of the Australian prefabricated housing industry

The current state of the prefabricated housing market in Australia is systematically profiled, guided by a theoretical systems model. Particular focus is given to two original data collections. The first identifies manufacturers and builders using prefabrication innovations, and the second compares the context for prefabricated housing in Australia with that of key international jurisdictions. The results indicate a small but growing market for prefabricated housing in Australia, often building upon expertise developed through non-residential building applications. The international comparison highlighted the complexity of the interactions between macro policy decisions and historical influences and the uptake of prefabricated housing. The data suggest factors such as the small scale of the Australian market, and a lack of investment in research, development and training have not encouraged prefabrication. A lack of clear regulatory policy surrounding prefabricated housing is common both in Australia and internationally, with local effects in regards to home warranties and housing finance highlighted. Future research should target the continuing lack of consideration of prefabrication from within the housing construction industry, and build upon the research reported in this paper to further quantify the potential end user market and the continuing development of the industry.

Attributing human uniqueness and human nature to cultural groups : distinct forms of subtle dehumanization

Research on subtle dehumanization has focused on the attribution of human uniqueness to groups (infrahumanization), but has not examined another sense of humanness, human nature. Additionally, research has not extended far beyond Western cultures to examine the universality of these forms of dehumanization. Hence, the attribution of both forms of humanness was examined in three cross-cultural studies. Anglo-Australian and ethnic Chinese attributed values and traits (Study 1, N = 200) and emotions (Study 2, N = 151) to Australian and Chinese groups, and rated these characteristics on human uniqueness and human nature. Both studies found evidence of complementary attributions of humanness for Australians, who denied Chinese human nature but attributed them with greater human uniqueness. Chinese denied Australians human uniqueness, but their attributions of human nature varied for traits, values, and emotions. Study 3 (N = 54) demonstrated similar forms of dehumanization using an implicit method. These results and their implications for dehumanization and prejudice suggest the need to broaden investigation and theory to encompass both forms of humanness, and examine the attribution of both lesser and greater humanness to outgroups.

Love hurts: The costly reality of online romance fraud

Online dating and romance scams continue to lure in Australians with figures this week showing people have lost more than A$23 million this year alone, with average individual losses at A$21,000 – three times higher than other types of fraud. The Australian Competition and Consumer Commission (ACCC) set up the Scam Disruption Project in August to help target those it believes have been caught in such scams. Over three months it sent 1,500 letters to potential victims in New South Wales and the Australian Capital Territory. The figures released this week show that 50 people have been scammed, losing a total A$1.7 million – that’s an average of A$34,000 per victim. Almost three quarters of the scams were dating and romance related, which saw it evolve into the number one category of fraud victimisation. Romance scams continue to pose a problem – despite the efforts of the police and ACCC – so why is it that people continue to fall for them?

Conceptual beliefs about human values and their implications: Human nature beliefs predict value importance, value trade-offs, and responses to value-laden rhetoric

Beliefs that may underlie the importance of human values were investigated in 4 studies, drawing on research that distinguishes natural-kind (natural), nominal-kind (conventional), and artifact (functional) beliefs. Values were best characterized by artifact and nominal-kind beliefs, as well as a natural-kind belief specific to the social domain, “human nature” (Studies 1 and 2). The extent to which values were considered central to human nature was associated with value importance in both Australia and Japan (Study 2), and experimentally manipulating human nature beliefs influenced value importance (Study 3). Beyond their association with importance, human nature beliefs predicted participants’ reactions to value trade-offs (Study 1) and to value-laden rhetorical statements (Study 4). Human nature beliefs therefore play a central role in the psychology of values.

Affordances of ICTs: an environmental study of a French language unit offered at university level

This project investigates the integration of Information Communication Technologies (ICTs) into educational settings by closely looking at the uptake of the perceived affordances offered by ICTs by students enrolled in a French language course at Queensland University of Technology. This cross-disciplinary research uses the theoretical concepts of: Ecological Psychology (Gibson, 1979; Good, 2007; Reed, 1996); Ecological Linguistics (Greeno, 1994; Leather & van Dam, 2003; van Lier 2000, 2003, 2004a, 2004b); Design (Norman, 1988, 1999); Software Design/ Human-Computer Interaction (Hartson, 2003; McGrenere & Ho, 2000); Learning Design (Conole & Dyke, 2004a, 2004b; Laurillard et al. 2000;); Education (Kirschner, 2002; Salomon, 1993; Wijekumar et al., 2006) and Educational Psychology (Greeno, 1994). In order to investigate this subject, the following research questions, rooted in the theoretical foundations of the thesis, were formulated: (1) What are the learners’ attitudes towards the ICT tools used in the project?; (2) What are the affordances offered by ICTs used in a specific French language course at university level from the perspective of the teacher and from the perspective of language learners?; (3) What affordances offered by ICT tools used by the teacher within the specific teaching and learning environment have been taken up by learners?; and (4) What factors influence the uptake by learners of the affordances created by ICT tools used by the teacher within the specific teaching and learning environment? The teaching phase of this project, conducted between 2006 and 2008, used Action Research procedures (Hopkins, 2002; McNiff & Whitehead, 2002; van Lier 1994) as a research framework. The data were collected using the following combination of qualitative and quantitative methods: (1) questionnaires administered to students (Hopkins, 2002; McNiff & Whitehead, 2002) using Likert-scale questions, open questions, yes/no questions; (2) partnership classroom observations of research participants conducted by Research Participant Advocates (Hopkins, 2002; McNiff & Whitehead, 2002); and (3) a focus group with volunteering students who participated in the unit (semi-structured interview) (Hopkins, 2002; McNiff & Whitehead, 2002). The data analysis confirms the importance of a careful examination of the teaching and learning environment and reveals differences in the ways in which the opportunities for an action offered by the ICTs were perceived by teacher and students, which impacted on the uptake of affordances. The author applied the model of affordance, as described by Good (2007), to explain these differences and to investigate their consequences. In conclusion, the teacher-researcher considers that the discrepancies in perceiving the affordances result from the disparities between the frames of reference and the functional contexts of the teacher-researcher and students. Based on the results of the data analysis, a series of recommendations is formulated supporting calls for careful analysis of frames of reference and the functional contexts of all participants in the learning and teaching process. The author also suggests a modified model of affordance, outlining the important characteristics of its constituents.

The fluid nature of action research

Action research is a fluid, unfolding process of research. It involves cycles of questioning, gathering data, critical reflection and deciding on a course of action (Stringer, 2008). Through action research, educators research their own practice in their own setting. They learn from their experiences as the action research cycles progress, and apply new learning to practice.

Adaptive nature of coordinated road traffic injury prevention responses in some OECD countries

This study examines the context of coordinated responses, triggers for coordinated responses, and preference for or choice of coordinating strategies in road traffic injury prevention at a local level in some OECD countries. This aim is achieved through a mixed-methodology. In this respect, 22 semi-structured interviews were conducted with road traffic injury prevention experts from five OECD countries. In addition, 31 professional road traffic injury prevention stakeholders from seven OECD nations completed a self-administered, online survey. It found that there was resource limitation and inter-dependence across actors within the context of road traffic injury prevention at a local level. Furthermore, this study unveiled the realization of resource-dependency as a trigger for coordinated responses at a local level. Moreover, the present examination has revealed two coordinating strategies favored by experts in road traffic injury prevention – i.e. self-organizing community groups, which are deemed to have a platform to deliver programs within communities, and the funding of community groups to forge partnerships. However, the present study did not appear to endorse other strategies such as the formalization of coordinated responses or a legal mandate to coordinate responses. In essence, this study appears to suggest a need to manage coordinated responses from an adaptive perspective with interactions across road traffic injury prevention programs being forged on a mutual understanding of inter-dependency arising out of resource scarcity. In fact, the role of legislation and top-down national models in local level management of coordinated responses is likely to be one of identifying opportunities to interact with self-organized community groups and fund partnership-based road traffic injury prevention events.

The dual nature of information systems in enabling a new wave of hardware ventures: Towards a theory

Hardware ventures are emerging entrepreneurial firms that create new market offerings based on development of digital devices. These ventures are important elements in the global economy but have not yet received much attention in the literature. Our interest in examining hardware ventures is specifically in the role that information system (IS) resources play in enabling them. We ask how the role of IS resources for hardware ventures can be conceptualized and develop a framework for assessment. Our framework builds on the distinction of operand and operant resources and distinguishes between two key lifecycle stages of hardware ventures: start-up and growth. We show how this framework can be used to discuss the role, nature, and use of IS for hardware ventures and outline empirical research strategies that flow from it. Our work contributes to broadening and enriching the IS field by drawing attention to its role in significant and novel phenomena.

Re-thinking sustainable solutions: Innovation inspired by nature

Australian rural landscapes are facing a crisis from land degradation due to rising salinity levels, soil acidification and soil erosion. There is growing consensus amongst the businesses community, government departments and research organisations that the real solution to these problems and the broader sustainability dilemma comes by taking a ‘whole of system’ approach to agricultural and rangelands management. This article introduces two cutting-edge concepts – Biomimicry and Natural Sequence Farming – to illustrate how whole-system thinking can effectively and profitably address the challenges facing agriculture and rangelands.

Entering the field as a sports coordinator: Negotiating the micropolitics of the profession

The work of French sociologist, anthropologist and philosopher Pierre Bourdieu has been influential across a set of cognate disciplines that can be classified as physical culture studies. Concepts such as field, capital, habitus and symbolic violence have been used as theoretical tools by scholars and students looking to understand the nature and purpose of sport, leisure, physical education and human movement within wider society. Pierre Bourdieu and Physical Culture is the first book to focus on the significance of Bourdieu’s work for, and in, physical culture. Bringing together the work of leading and emerging international researchers, it introduces the core concepts in Bourdieu’s thought and work, and presents a series of fascinating demonstrations of the application of his theory to physical culture studies. A concluding section discusses the inherent difficulties of choosing and using theory to understand the world around us. By providing an in-depth and multi-layered example of how theory can be used across the many and varied components of sport, leisure, physical education and human movement, this book should help all serious students and researchers in physical culture to better understand the importance of social theory in their work.

The nature of academic leadership at the colleges of the Royal University of Bhutan

This qualitative case study explored leaders' and faculty members' perspectives on the nature of academic leadership at the Royal University of Bhutan (RUB) Colleges. The study revealed that academic leadership at the Colleges is a complex and emergent fusion of Western and Buddhist leadership. The research recommended a hybrid model intended to inform academic leadership development in Bhutanese higher education and contribute to the realisation of the Gross National Happiness philosophy. The model incorporates Buddhist-influenced leadership and other relevant leadership approaches and is expected to contribute to academic rigour through effective learning and research leadership.