Financial literacy and pension investment decisions

The call for enhanced financial literacy amongst consumers is a global phenomenon, driven by the growing complexity of financial markets and products, and government concerns about the affordability of supporting an ageing population. Worldwide, defined benefit pensions are giving way to the risk and uncertainty of defined contribution superannuation/pension funds where fund members now make choices and decisions that were once made on their behalf. An important prerequisite for informed financial decision-making is adequate financial knowledge and skills to make competent investment decisions. This paper reports the findings of an online survey of the members of a large Australian public sector-based superannuation fund and shows that although respondents generally understand basic financial matters, on average, their understanding of investments concepts, such as the relationship between risk and returns, is inadequate. These results highlight the need for education programs focusing specifically on developing fund members’ investment knowledge and skills to facilitate informed retirement savings decisions.

The Botanical Gardens X-tension, (Remnant Emergency Artlab)

This film, website and gallery installation shown at UTS Gallery, Sydney, presented a glimpse into the foregrounding process of the REMNANT/EMERGENCY Artlab - held in Sydney in November 2010.

Total theory (vertical) and total theory (horizontal)

The works depicted two ostensibly plaster figures 'cocooned' in protective overalls. The pose of both figures had a sense of instability, balancing improbably due to internal weights. This teetering, arching quality, combined with the empty sleeves of the overalls, made reference to the Rodin's Balzac and its aura of heroic subjectivity. As the Tyvek suits depicted in the works are a common part of my studio paraphernalia, these works sought to draw a line between these two opposing aspects of the subjectivity of the artist - the transcendent and the quotidian. The works were shown as part of ‘The Day the Machine Started’ for Dianne Tanzer Gallery + Projects at the 2010 Melbourne Art Fair. The works received citations in The Age and The Australian newspapers.

‘I can’t get no satisfaction’...or can I? A study of satisfaction with financial planning and client wellbeing

This paper reports findings from an ongoing collaborative research project with the Financial Services Council (FSC), which contributed funding and facilitated the survey of financial planners’ clients through FSC member organisations. The article draws on the report to the FSC that was prepared by the QUT researchers, reporting findings on the initial exploratory stage of the project.1 The lyric in the title of this paper has become a catchcry for consumers dissatisfied with a range of financial services and products, and, as recent Federal Government inquiries have revealed, there is some truth to the claim. But as financial planning undergoes a series of reforms, including increased professionalism (FPA 2009) and improved quality of advice (Australian Government 2011), there are good reasons to explore the conditions under which clients report satisfaction with their financial planners; not least because the provision of effective financial planning and advice, delivered in accordance with, or transcending, the rules and norms of industry best-practice has the potential to benefit clients, not just financially, but across a number of life domains. In this paper, we report findings from an exploratory study investigating whether financial planning and advice contribute to client well-being, beyond effects on financial well-being. While anecdotal evidence supports psychological benefits such as a sense of security, little research has explored these links in any systematic or theoretically driven way. However, theory and research from cognate disciplines, such as psychology, indicate clear links between planning, goal setting and well-being that are likely to arise in the financial planning domain. Surveyed clients were asked to indicate their satisfaction with their financial advisers, the planning process and the advice they received. Clients responded to items designed to reflect key areas for financial planners in the shift towards increased professionalism, improved disclosure and greater client focus (e.g. FPA 2009). Clients also reflected on their financial situations before and after seeing their advisers, and considered the impact of their financial situations on a number of life areas including family relationships, mental health and well-being, and overall life satisfaction.

Vertical growth and resonator properties of hexagonally shaped zinc oxide nanonails

We synthesized vertically aligned nail-shaped ZnO nanocrystal arrays on silicon substrates via a combination of a carbothermal reduction method and textured ZnO seeding layers that were precoated on silicon substrates by thermally decomposing zinc acetate, and studied their optical properties using cathodoluminescence (CL) and photoluminescence techniques. The ZnO nanonails show a sharp band-gap edge UV emission and a defect-related broad green emission. Monochromatic CL images of an individual ZnO nanonail show variations in spatial distributions of respective CL bands that had different origins. We attribute the spatial variation of CL images to an uneven distribution of luminescent defects and/or a structure-related light out-coupling from hexagonal ZnO nanostructures. The most distinct CL feature from the hexagonal head of an individual ZnO nanonail was the occurrence of a series of distinct resonant peaks within the visible wavelength range. It appeared that the head of a nanonail played the role of a hexagonal cavity so that polarizationdependent whispering gallery modes were stimulated by electron beam excitation.

Identification of dispersion-dependent hexagonal cavity modes of an individual ZnO nanonail

The hexagonal resonator characteristics of an individual ZnO-nanonail’s head were investigated via spatially resolved cathodoluminescence (CL) at room temperature. The positions of most of distinct CL peaks in visible range were well matched to those of whispering gallery modes (WGMs) of a hexagonal dielectric cavity when we took birefringence and dispersion of refractive indices into account. The broad and weak peaks for TE polarization in long wavelength range were consistent with refractive-index values below the threshold for total internal inflection. CL peaks that were not matched to WGMs were identified as either triangular quasi-WGM or Fabry–Pérot resonance modes.

Forgotten places : rediscovering the small spaces and laneways of Fortitude Valley

A design Charrette was the starting point for understanding the different scales within the design process of this architectural intervention. The week-long, intense design activity promoted group interaction amongst students while examining local issues of the Fortitude Valley context. The process was an opportunity for the fourth year architectural design students to collaborate on a complex design problem. Students were asked to identify a unique condition of their site beyond the physical built environment. They were asked to consider the political and social context and respond to these by designing a temporary art gallery for underdeveloped areas within Fortitude Valley. The exhibition shows how architecture can invigorate a space by providing new use and new life.

Mechanism of interaction of hydrocalumites (Ca/Al-LDH) with methyl orange and acidic scarlet GR

The development of new materials for water purification is of universal importance. Among these types of materials are layered double hydroxides (LDHs). Non-ionic materials pose a significant problem as pollutants. The interaction of methyl orange (MO) and acidic scarlet GR (GR) adsorption on hydrocalumite (Ca/Al-LDH-Cl) were studied by X-ray diffraction (XRD), infrared spectroscopy (MIR), scanning electron microscope (SEM) and near-infrared spectroscopy (NIR). The XRD results revealed that the basal spacing of Ca/Al-LDH-MO was expanded to 2.45 nm, and the MO molecules were intercalated with a inter-penetrating bilayer model in the gallery of LDH, with 49o tilting angle. Yet Ca/Al-LDH-GR was kept the same d-value as Ca/Al-LDH-Cl. The NIR spectrum for Ca/Al-LDH-MO showed a prominent band around 5994 cm-1, assigned to the combination result of the N-H stretching vibrations, which was considered as a mark to assess MO- ion intercalation into Ca/Al-LDH-Cl interlayers. From SEM images, the particle morphology of Ca/Al-LDH-MO mainly changed to irregular platelets, with a “honey-comb” like structure. Yet the Ca/Al-LDH-GR maintained regular hexagons platelets, which was similar to that of Ca/Al-LDH-Cl. All results indicated that MO- ion was intercalated into Ca/Al-LDH-Cl interlayers, and acidic scarlet GR was only adsorped upon Ca/Al-LDH-Cl surfaces.

Putting on a show : the theatricality of sport

This exhibition catalogue essay discusses the work of artists in the Basil Sellars Art prize at the Ian Potter Gallery in Melbourne. It considers sport's theatre within parameters such as theatre itself; rules and recursive elements; creases in the cultural fold; transformances; and the performers themselves. The artists' articulation of these themes is discussed in detail.

Andrzej Zielinski : pulp digital fictions

This is a review of painter Andrzej Zielinski's exhibition at gallery 9 in Sydney. It highlights the artist's expressionistic style and strong colour sense as well as his association with American painterly traditions. The artist application of acrylic modelling paste and his paintings also gives them a sculptural and architectural dimension, and on a conceptual level play with notions of mimesis and material form.

Unleashed : roadshow finale 2010 exhibition

This exhibition, as part of the Queensland Government Unlimited: Designing for the Asia Pacific Program, showcased the unleashed: queensland design on tour 2010 Exhibition and outcomes from the aligned goDesign Travelling Workshop Program for Regional Secondary School Students, delivered concurrently by the Design Institute of Australia Queensland Branch and QUT, between February and September 2010 in the six regional Queensland towns of Chinchilla, Mt Isa, Quilpie, Emerald, Gladstone and Bundaberg. Mirroring the delivery of the exhibition opening in the local gallery of each regional town, student design work produced during the workshop program was displayed alongside the award winning work of professional visual communication, interior and product designers and design students from the DIA qdos Awards Program of 2008 and 2009. The resulting linkages and connections made possible by the aligned programs, and the students’ creative product, based on their own interpretation of the local culture, environment, economy and politics of their town developed through a design process, were the subject of the exhibition, captured through photos and dialogues (digital and print format) and sketchbooks. The two programs and resulting final ‘retrospective’ exhibition, addressed the key objectives outlined in the Queensland Government Arts Queensland Design Strategy 2020 (2008-2012 Action plan), which focuses on the promotion of a better understanding of the value of good design across all of the state, by enhancing the collaboration between industry, the professional body for design, the government and the education sectors, and by providing opportunities for young people to engage in design. The exhibition highlighted the benefits for regional communities in being exposed to design exhibitions, and linking with tertiary educators and design practitioners to participate in design-based learning activities which broaden student understanding of their learning and subsequent career opportunities, by establishing a meaningful connection with real world issues of place, identity and sustainability.

Unintended consequences of regulatory reporting requirements for small and medium size construction entities : Australian evidence

The Queensland Building Services Authority (QBSA) regulates the construction industry in Queensland, Australia, with licensing requirements creating differential financial reporting obligations, depending on firm size. Economic theories of regulation and behaviour provide a framework for investigating effects of the financial constraints and financial reporting requirements imposed by QBSA licensing. Data are analysed for all small and medium construction entities operating in Queensland between 2001 and 2006. Findings suggesting that construction licensees are categorizing themselves as smaller to avoid the more onerous and costly financial reporting of higher licensee categories are consistent with US findings from the 2002 Sarbanes-Oxley (SOX) regulation which created incentives for small firms to stay small to avoid the costs of compliance with more onerous financial reporting requirements. Such behaviour can have the undesirable economic consequences of adversely affecting employment, investment, wealth creation and financial stability. Insights and implications from the analysed QBSA processes are important for future policy reform and design, and useful to be considered where similar regulatory approaches are planned.

The impact of regulatory reforms on the earnings forecasting behaviour of IPO firms

Purpose – The purpose of this paper is to jointly assess the impact of regulatory reform for corporate fundraising in Australia (CLERP Act 1999) and the relaxation of ASX admission rules in 1999, on the accuracy of management earnings forecasts in initial public offer (IPO) prospectuses. The relaxation of ASX listing rules permitted a new category of new economy firms (commitments test entities (CTEs))to list without a prior history of profitability, while the CLERP Act (introduced in 2000) was accompanied by tighter disclosure obligations and stronger enforcement action by the corporate regulator (ASIC). Design/methodology/approach – All IPO earnings forecasts in prospectuses lodged between 1998 and 2003 are examined to assess the pre- and post-CLERP Act impact. Based on active ASIC enforcement action in the post-reform period, IPO firms are hypothesised to provide more accurate forecasts, particularly CTE firms, which are less likely to have a reasonable basis for forecasting. Research models are developed to empirically test the impact of the reforms on CTE and non-CTE IPO firms. Findings – The new regulatory environment has had a positive impact on management forecasting behaviour. In the post-CLERP Act period, the accuracy of prospectus forecasts and their revisions significantly improved and, as expected, the results are primarily driven by CTE firms. However, the majority of prospectus forecasts continue to be materially inaccurate. Originality/value – The results highlight the need to control for both the changing nature of listed firms and the level of enforcement action when examining responses to regulatory changes to corporate fundraising activities.

Was By The Northern Coast

‘Was by the Northern Coast’ was an installation at MetroArts in Brisbane. A pile of warped timber, evocative of a dismantled boat, sits in the middle of the gallery space on a bed of carefully-laid bands of polyester insulation and pine battening. From within the wood stack, the sound of dripping water indicates the flow of water created by a silent internal pump. The sound of water intermingles with a soft soundtrack of Kulning, an archaic form of Scandinavian song. In ‘Was by the Northern Coast’, the detritus of timber mimics the Romantic sublime of the mountain peak and nautical wreckage while the snowy drifts of the Northern European landscape become mistranslated as a field of artificial ceiling insulation. In employing such slippages, the work attempted to create the imaginative landscape of an aesthetic displaced by distance and time.

11:59

At first glance, the gallery seems to be empty. Upon entering however, 11:59 reveals itself to be masking tape placed lackadaisically in seemingly geometric forms. Enter the gallery at 11:59 and you would witness the light and shadows correlate with the gestural marks that have been made. Exploring ideas of time, space, gesture, value and mark-making, this work can be interpreted to be overflowing with confidence and/or impotence. It whispers about site and encounters, over-complication and simplicity, and boldness and hesitancy.