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.

Engaging the practice of yarning in Action Research

This paper discusses the technique of ‘yarning’ as an action research process relevant for policy development work with Aboriginal peoples. Through a case study of an Aboriginal community-based smoking project in the Australian State of Victoria, the paper demonstrates how the Aboriginal concept of ‘yarning’ can be used to empower people to create policy change that not only impacts on their own health, but also impacts on the health of others and the Aboriginal organisation for which they work. The paper presents yarning within the context of models of empowerment and a methodological approach of participatory action research. The method is based on respect and inclusivity, with the final policy developed by staff for staff. Yarning is likely to be successful for action researchers working within a variety of Indigenous contexts.

PAR/RAP : Action Research/Research Action Participation

This is a creative piece inspired within and by the decolonising stream that emerged at the World Congress on Action Research and Action Learning, held in Melbourne, Australia in September 2010. It compliments the other works within ALAR Journal's specific edition on research experiences within the decolonising space.

Editorial : Decolonising action research (Electronic Version)

This edition of the ALAR Action learning action research journal aims to capture some of the current dilemmas, solutions and actions researchers experience in the decolonising space. This collection of papers demonstrates that researchers are not only undertaking action research with and within Indigenous and non-Indigenous contexts, but that they are doing so in exciting and dynamic ways across a diversity of situations. First we will address some of the literature on decolonisation. Then we will explain how this specific edition of the Journal came to fruition and aspects of action research.

Editorial : Decolonising action research

This edition of the ALAR Action learning action research journal aims to capture some of the current dilemmas, solutions and actions researchers experience in the decolonising space. This collection of papers demonstrates that researchers are not only undertaking action research with and within Indigenous and non-Indigenous contexts, but that they are doing so in exciting and dynamic ways across a diversity of situations. First we will address some of the literature on decolonisation. Then we will explain how this specific edition of the Journal came to fruition and aspects of action research. This is a condensed version of the Editorial that appears in the electronic version of the Journal.

Towards participatory action design research : adapting action research and design science research methods for urban informatics

This paper proposes a new research method, Participatory Action Design Research (PADR), for studies in the Urban Informatics domain. PADR supports Urban Informatics research in developing new technological means (e.g. using mobile and ubiquitous computing) to resolve contemporary issues or support everyday life in urban environments. The paper discusses the nature, aims and inherent methodological needs of Urban Informatics research, and proposes PADR as a method to address these needs. Situated in a socio-technical context, Urban Informatics requires a close dialogue between social and design-oriented fields of research as well as their methods. PADR combines Action Research and Design Science Research, both of which are used in Information Systems, another field with a strong socio-technical emphasis, and further adapts them to the cross-disciplinary needs and research context of Urban Informatics.

Positive emotional responses to hybridised writing about a socio-scientific issue

In order to understand better the role of affect in learning about socio-scientificissues (SSI), this study investigated Year 12 students’ emotional arousal as they participated in an online writing-to-learn science project about the socio-scientific issue of biosecurity. Students wrote a series of hybridised scientific narratives, or BioStories, that integrate scientific information about biosecurity with narrative storylines, and uploaded these to a dedicated website. Throughout their participation in the project, students recorded their emotional responses to the various activities (N=50). Four case students were also video recorded during selected science lessons as they researched, composed and uploaded their BioStories for peer review. Analysis of these data, as well as interview data obtained from the case students, revealed that pride, strength, determination, interest and alertness were among the positive emotions most strongly elicited by the project. These emotions reflected students’ interest in learning about a new socio-scientific issue, and their enhanced feelings of self-efficacy in successfully writing hybridised scientific narratives in science. The results of this study suggest that the elicitation of positive emotional responses as students engage in hybridised writing about SSI with strong links to environmental education, such as biosecurity, can be valuable in engaging students in education for sustainability.

Performance testing of road bridge deck containing flat rail wagons

A road bridge containing disused flatbed rail wagons as the primary deck superstructure was performance tested in a low volume, high axle load traffic road in Queensland, Australia; some key results are presented in this paper. A fully laden truck of total weight 28.88 % of the serviceability design load prescribed in the Australian bridge code was used; its wheel positions were accurately captured using a high speed camera and synchronised with the real‐time deflections and strains measured at the critical members of the flat rail wagons. The strains remained well below the yield and narrated the existence of composite action between the reinforced concrete slab pavement and the wagon deck. A three dimensional grillage model was developed and calibrated using the test data, which established the structural adequacy of the rail wagons and the positive contribution of the reinforced concrete slab pavement to resist high axle traffic loads on a single lane bridge in the low volume roads network.

Just do it : action's central role in venture creation

This study examined the effect that venture creation action has on the outcomes of nascent entrepreneurship. A theoretical model was developed which proposes action as a fundamental mechanism in venture creation. Thus, action should rightly be considered as a means rather than an end in itself. In this respect, action transmits the effects of venture resource endowments on to venture creation outcomes. This conceptual model was empirically supported in a random sample of nascent ventures. Ventures with higher levels of human or social capital tend to be more active in venture creation. In turn, more active venture attempts are more likely to achieve improved results.

Has increasing the age for child passengers to wear child restraints improved the extent to which they are used? Results from an Australian focus group and survey study.

Acknowledgement that many children in Australia travel in restraints that do not offer them the best protection has led to recent changes in legislation such that the type of restraint for children under 7 years is now specified. This paper reports the results of two studies (observational; focus group/ survey) carried out in the state of Queensland to evaluate the effectiveness of these changes to the legislation. Observations suggested that almost all of the children estimated as aged 0-12 years were restrained (95%). Analysis of the type of restraint used for target-aged children (0-6 year olds) suggests that the proportion using an age-appropriate restraint has increased by an estimated 7% since enactment of the legislation. However, around 1 in 4 children estimated as aged under 7 years were using restraints too large for good fit. Results from the survey and focus group suggested parents were supportive of the changes in legislation. Non-Indigenous parents agreed that the changes had been necessary, were effective at getting children into the right restraints, were easy to understand as well as making it clear what restraint to use with children. Moreover, they did not see the legislation as too complicated or too hard to comply with. Indigenous parents who participated in a focus group also regarded the legislation as improving children’s safety. However, they identified the cost of restraints as an important barrier to compliance. In summary, the legislation appears to have had a positive effect on compliance levels and on raising parental awareness of the need to restrain children child-specific restraints for longer. However, it would seem that an important minority of parents transition their children into larger restraints too early for optimal protection. Intervention efforts should aim to better inform these parents about appropriate ages for transition, especially from forward facing childseats. This could potentially be through use of other important transitions that occur at the same age, such as starting school. The small proportion of parents who do not restrain their children at all are also an important community sector to target. Finally, obtaining restraints presents a significant barrier to compliance for parents on limited incomes and interventions are needed to address this.

Action research as foresight methodology

To the action researcher, who laboriously spends his or her hours working within the local contexts of communities or organisations to co-generate meaningful research, and who’s theories are hardened on the anvil of creating meaningful social change; futures studies might seem the discipline the most peripheral to its interests, and the most ill equipped to deal with the local and intimate domain of community existence. To the futurist, who laboriously spends his or her hours understanding the nuances of history and social change, who through persistent work, begins to make sense of the weak signals and the subtle shifts, action research would seem as simply an auxiliary field, inappropriate for understanding the greater scheme. I invite the reader, however, whether they belong to one camp or the other, to let go of their respective disciplinary perspectives, and see both belonging to each other. [Introduction] .

Symposium of action learning: introduction

Action learning / research is a broad field of research with deep roots in the 20th century. Unlike futures studies, which is more content oriented (i.e., the futures of health, peace futures, global futures), action learning / research is process and methodology oriented – addressing the manner in which research is done, rather than what is researched. At its core it is collaborative learning for social change. This is particularly important because, in this age of heterogenous changes and multi-fold social challenges, we need to be able to bridge learning about our futures with action and innovation in the present, in a way that is effective and accessible for lay communities and organisations, not just experts. [Introduction]

Commentary : "Our reflections on identity, gender and transforming action"

This paper explores the cultural interplay between Indigenous women from one geographic locality being on and within the locality of the women of another locality – in this case, Whakatāne, Aotearoa. The authors consider identity, gender and place within the processes of transformation and decolonisation. They argue that women need to be involved in ways that restore their power as women and ensure their rightful place. The authors draw on the female ancestor Wairaka and her courage to argue that Indigenous women need to respond, change and adapt to the places in which they live. They argue that decolonisation needs to include action and possibilities for Māori and Indigenous Australian women.

Developing a Second Life virtual field trip for university students : an action research approach

Background: Integrating 3D virtual world technologies into educational subjects continues to draw the attention of educators and researchers alike. The focus of this study is the use of a virtual world, Second Life, in higher education teaching. In particular, it explores the potential of using a virtual world experience as a learning component situated within a curriculum delivered predominantly through face-to-face teaching methods. Purpose: This paper reports on a research study into the development of a virtual world learning experience designed for marketing students taking a Digital Promotions course. The experience was a field trip into Second Life to allow students to investigate how business branding practices were used for product promotion in this virtual world environment. The paper discusses the issues involved in developing and refining the virtual course component over four semesters. Methods: The study used a pedagogical action research approach, with iterative cycles of development, intervention and evaluation over four semesters. The data analysed were quantitative and qualitative student feedback collected after each field trip as well as lecturer reflections on each cycle. Sample: Small-scale convenience samples of second- and third-year students studying in a Bachelor of Business degree, majoring in marketing, taking the Digital Promotions subject at a metropolitan university in Queensland, Australia participated in the study. The samples included students who had and had not experienced the field trip. The numbers of students taking part in the field trip ranged from 22 to 48 across the four semesters. Findings and Implications: The findings from the four iterations of the action research plan helped identify key considerations for incorporating technologies into learning environments. Feedback and reflections from the students and lecturer suggested that an innovative learning opportunity had been developed. However, pedagogical potential was limited, in part, by technological difficulties and by student perceptions of relevance.