Electronic commerce publications and the implications for research quality output in Australia

Australian universities and academics will soon see a major change in the way research is reported and funded. It is expected that by 2008, according to the most recent timetable (Bishop 2006), the Research Quality Framework (RQF) will be implemented. The result of the announcement has been an increased activity within universities focusing on the proposed criteria. The proposed RQF will seek to have research assessed according to quality and impact. Part of both quality and impact relates to where research is published. For academics it will be increasingly important to target high quality journals if the research is to be rated as high quality. The question this raises for Information Systems academics is where do we publish for maximum impact? The Information Systems (IS) field is diverse with researchers working in many areas and a publication outlet for one area may not be relevant for another. One area where many Australian IS researchers have focused their research interest is the field of electronic commerce (e-commerce). The research reported in this paper identified the publication outlets that would be regarded as amongst the highest quality for researchers wishing to publish e-commerce research. The authors analysed e-commerce research papers by Australian researchers published in the period 2000 to 2005. The results describe where Australian researchers are publishing in this field. The paper also provides guidance to those working in the e-commerce field on which journals and conferences to target to ensure their work rates highly in terms of the RQF.

Financial crisis, Social pathologies and 'generalised perversion' : questioning Zizek's diagnosis of the times

Slavoj Zizek's work has been highly influential in the formulation of an emerging consensus among Lacanian social researchers, that we live in a society of generalised perversion whose initial fruits are the corrosion of democracy and the recent financial crisis. This position rests upon a notion of modern subjectivity that connects ‘commodity fetishism’ with clinical perversion in a pathological configuration, so that social theoretical identification of crisis tendencies, evaluative language about moral problems and diagnostic categories from the Lacanian clinic can be combined in a single figure. In this article, we question the series of conceptual links that constitute this position, tracing them from Zizek’s critique in his short work on the global financial crisis and his broader restatement of this analysis in the recent Living in the End Times, through the moment of his announcement of the notion of ‘generalised perversion’ in The Ticklish Subject, all the way back to fundamental propositions outlined in his earliest work. Our argument progresses through three claims. First, we show in the evolution of this position that it leads Zizek to equivocate in his diagnosis of contemporary society between two mutually exclusive categories (‘psychosis’ and ‘perversion’), indicating an antinomy in his work that is resolved in favour of ‘generalised perversion’ on empirical, not logical, grounds. Secondly, we offer a critical resolution of the antinomy through a critique of what we argue is Zizek’s mistaken over-extension of psychoanalytic reason beyond its legitimate scope of application. Finally, we point to some of the political implications of the way that Zizek speculatively resolves his logical difficulties, by analysing the consequences of his claim that generalised social perversion - the problem to be solved - involves a dethroning of the communal ego ideal. A communitarian streak, implicit in the potential conflation of moral denunciation with psychoanalytic diagnosis that the rhetoric of ‘perversion’ invokes, runs through Zizek’s work on capitalism, we propose in conclusion.

Expansion and equity in Australian higher education : three propositions for new relations

This article outlines three broad propositions for student equity in Australian higher education (HE), arising from the Australian Government's recent policy announcement to expand and widen student participation. The first is that a new relationship between student demand for places and their supply is on the horizon, unlike any other in Australia's history. Specifically, demand will struggle to match the intended supply. Given these new arrangements between government, institution and applicant, the article's second proposition is that governments and universities will need to develop a new regard for the people they seek to attract. And, following on from this, they will need to pay more attention to the nature of HE and its appeal to people who traditionally have not been all that interested. Informing this account are an examination of statistical data, analysis of university outreach programs, and a comparison of current principles of effective teaching in HE. The article concludes that advancing student equity in the current context will require new relations between institutions and students, which include a more sophisticated appreciation for the diversity of students and their communities, and for what they potentially contribute to HE.

Sustaining Victorian certificate of applied learning (VCAL) educators

This paper draws on emerging data from in-progress analysis of interviews with 22 teachers/educators who teach the Victorian Certificate of Applied Learning (VCAL) in the settings of schools, Adult Community Education (ACE) and Technical and Further Education (TAFE). The development and implementation of VCAL occurred in 2002 as a response to Victorian government policy initiatives resulting from the Kirby (2000) Report. The VCAL is offered alongside the Victorian Certificate of Education (VCE), in years 11 and 12 of school, as another pathway into employment or further education and training. VCAL is also offered in the settings of TAFE and ACE. The VCAL curriculum uses applied learning as a pedagogical foundation to engage students in relevant, meaningful and authentic learning. In schools VCAL is delivered by qualified and registered teachers. In the TAFE and ACE sectors VCAL is taught by staff who are not necessarily teacher trained. Many pre-service teaching courses (including Certificate IV in Workplace Training and Assessment) do not include applied learning pedagogy in the curriculum. Since VCALʼs implementation there have been calls for greater consultation with, and support given to, VCAL teachers and organisations (Knipe, Ling, Bottrell and Keamy, 2003, p. 6; Harrison, 2006). Additionally VCAL teachers are frequently ill prepared professionally to manage a cohort which includes a high concentration of disengaged young people demonstrating challenging behaviours and attitudes (Pritchard & Anderson, 2006, p.1). Emerging data from the interviews with VCAL educators indicates these issues have not been addressed and many educators and teachers continue to feel unprepared and poorly supported. This is particularly significant in the light of a recent Victorian government announcement that, despite rising VCAL enrolments, VCAL coordination funding to schools is to be cut in 2012. (VALA, 2011, para. 4). To compensate for a lack of structured support and preparation, VCAL educators are frequently sustaining professional practice by their own agency in adapting already held life-skills and knowledge.

Atmospheric news stinger

A stinger made on synths.

The diversification discount and takeovers : some Australian evidence

Purpose – The purpose of this paper is to examine the existence of a diversification discount in the Australian takeover market. A sample of 446 Australian publicly-listed firms involved in the market for corporate control was observed between 2000 and 2007. The authors examined two pre-announcement and four post-announcement periods, predominantly around the immediate event date, but also examined activity out to one year following the announcement.
Design/methodology/approach – An event study, in this case, is used to examine abnormal returns around the announcement of a merger or acquisition. The timeframe this study intends to focus on is the period from announcement date to a time one year down the track which, although some studies may deem it “long-term”, is still a relatively short-term measure of performance.While many variables in acquisitions have been looked at in depth over the years, such as outcome, nature, payment method and size of deal, one area which has had considerably less attention is the area of specialisation and diversification. That is, do focus increasing (or non-diversification) deals have different return patterns relative to focus decreasing (or diversification) deals?
Findings – The overall findings of this paper are fairly mixed, barring a few exceptions, and there does not appear to be a great deal of variation in return patterns based purely on whether the announced acquisition is non-diversifying or diversifying in nature.
Originality/value – The paper is of particular value in Australia. Most of the research of diversification to date has taken place in the USA. Australia is similar to the USA in that it has a well-developed economy based on common law principles and an active equity market, however, the existence of institutional and regulatory differences suggests that US results may not hold in Australia.

Novel applications and research problems for sensor-clouds

Recent developments in sensor networks and cloud computing saw the emergence of a new platform called sensor-clouds. While the proposition of such a platform is to virtualise the management of physical sensor devices, we foresee novel applications being created based on a new class of social sensors. Social sensors are effectively a human-device combination that sends torrents of data as a result of social interactions. The data generated appear in different formats such as photographs, videos, or short texts, etc. Unlike other sensor devices, social sensors operate on the control of individuals via their mobile devices like smart phones, tablets or laptops. Further, they do not generate data at a constant rate or format like other sensors do. Instead, data from social sensors are spurious and varied, often in response to social events, or a news announcement of interests to the public. This collective presence of social data creates opportunities for novel applications never experienced before. This paper discusses three such applications utilising social sensors within a sensor-cloud environment. Consequently, the associated research problems are also presented.

Sensor-cloud computing : novel applications and research problems

Recent developments in sensor networks and cloud computing saw the emergence of a new platform called sensor-clouds. While the proposition of such a platform is to virtualise the management of physical sensor devices, we are seeing novel applications been created based on a new class of social sensors. Social sensors are effectively a human-device combination that sends torrent of data as a result of social interactions and social events. The data generated appear in different formats such as photographs, videos and short text messages. Unlike other sensor devices, social sensors operate on the control of individuals via their mobile devices such as a phone or a laptop. And unlike other sensors that generate data at a constant rate or format, social sensors generate data that are spurious and varied, often in response to events as individual as a dinner outing, or a news announcement of interests to the public. This collective presence of social data creates opportunities for novel applications never experienced before. This paper discusses such applications as a result of utilising social sensors within a sensor-cloud environment. Consequently, the associated research problems are also presented.

A-REIT bidder returns : an evaluation of public and private targets and method of payment

This study examines the wealth effects of fifty-six Australian Real Estate Investment Trusts (A-REITS) acquirers around the announcement date of a merger and acquisition over the period of 1996 to 2010. This study extends Ratcliffe et al (2009) by examining mergers and acquisitions of private entity targets as well as public targets and confirms recent US REIT work in this field. Utilising event study methodology we find that bidding A-REITs earn positive and significant cumulative abnormal returns (CARs) of +0.966% around the three-day announcement period [-1, +1]. Analysis also indicates bidding firms earn higher CARs when the acquisition is financed by scrip and/or a combination of scrip and cash. Consistent with prior REIT research, event study results show that A-REIT acquirers earn higher excess returns when the target is private as compared to a public target, +2.834% and +0.457% respectively. Further investigation, employing regression analysis, shows book-to-market ratio has a negative impact on bidding firms CARs, suggesting that investors penalise high book-to-market A-REITs in an M&A due to their higher risk characteristics. We also find that both specialisation by property type and relative size of the bidder compared to the target has a positive and significant influence on bidder excess returns. Finally, our results show support for the method of payment findings in the event study, with method of payment returning a negative and significant impact on the bidder CARs.

The evolution of national level historic district registration and conservation in China: the Beijing Yandaixiejie and Beijing Guozijian districts in Beijing, China

From the 1980s, Chinese experts from some mainland universities, such as Tongji Universtiy in Shanghai and Tsinghua University in Beijing, commenced research into heritage management and historic architectural conservation in China. With the announcement of the First and Second Lists of 10 Chinese Historic and Cultural Districts in 2009 and 2010, the conservation of historic districts was generally received and elevated in agreements from state-level government to local level governments. This paper considers literature about international and Chinese regulations and presents the evolution of historic district conservation in China. The paper explores the effective and ineffective results of the “Selection Contest of Chinese Top 10 Historic and Cultural Districts” in two cases selected from the First and Second Lists of 10 Chinese Historical and Cultural Districts during upon recent research and investigations. In each example, the paper provides a detailed examination of public awareness and their evaluation of conservation effectiveness through questionnaires.

An investigation into the drivers of Australian REIT merger and acquisition announcements

Purpose – The purpose of this paper is to use Australian Real Estate Investment Trust (A-REIT) data to empirically examine potential influencing factors on A-REITs becoming a bidder or a target in the mergers and acquisitions (M&A) area.

Design/methodology/approach – This study uses logistic regression analysis to investigate the odds of publically traded A-REITs being either a bidder or a target as a function of a number of financial and corporate governance variables.

Findings – Prior research in the US REIT M&A area has shown that target size is inversely related to takeover likelihood; in contrast, the authors’ Australian results show that size has a positive impact. Prior research on share price and asset performance has shown that underperformance increases the odds of an entity becoming a target, but this paper’s results further support these findings and provide confirmation of the inefficient management hypothesis. For acquirers it was found that leverage, cash balances, management structure, the level of shares held by related parties and the global financial crisis have an important impact on bidder likelihood.

Practical implications – Given that the literature suggests that investors can earn significant positive abnormal returns by owning targets, but incur significant abnormal losses by owning bidders, at announcement, this study will be useful to fund managers and other investors in A-REITs by investigating the characteristics of those firms that become targets and bidders.

Originality/value – This paper adds to the recent US REIT M&A literature by examining the second biggest REIT market in the world and reporting a number of factors that might influence A-REITs to become targets or bidders.

Fraud, market reaction, and the role of institutional investors in Chinese listed firms

The extent and type of financial fraud committed by listed firms in China, stock market reaction to the detection and announcement of fraud, and the association between institutional ownership and financial fraud are the subjects of this article. Using fraud data from the period between 2001 and 2011, the authors find wide occurrences of fraud and a strong negative market reaction on the announcement date, particularly in cases of serious fraud. Fraud is more likely to occur at firms that have a smaller proportion of independent directors and at poorly performing firms. Firms with higher mutual fund ownership subsequently have fewer incidences of fraud. Our results reports by the authors indicate that ownership by independent institutions, such as mutual funds, serves as an effective monitoring mechanism, deterring fraud and enhancing corporate governance in Chinese capital markets.

The efficient market hypothesis and corporate event waves: part II

This article is the second of a two-part series on the efficient market hypothesis corporate event waves. The ideas of market efficiency, or rational theory, and the behavioral hypothesis have been extensively used to explain the modern phenomena of corporate event waves. Some studies investigate the patterns of corporate events from a behavioral finance perspective and suggest that corporate announcement waves are driven by investor sentiment. Baker and Wurgler examine equity market timing as an aspect of real corporate financial policy. Sentiment can also explain IPO waves. Post-announcement returns and IPO volume are positively correlated to firms' capital demands and the level of investor optimism. Helwge and Liang examine the IPO cycles from hot to cold markets from 1975 to 2000. Corporate e vent wave scan also be explained by the neoclassical efficiency hypothesis, proposing that business cycle fluctuations and economic conditions drive firms' decisions on financing transactions.