Crash involvement patterns of unlicensed drivers and riders in Queensland. Report to Queensland Department of Transport and Main Roads

Unlicensed driving remains a serious problem for road safety, despite ongoing improvements in traffic law enforcement practices and technology. While it does not play a direct causative role in road crashes, unlicensed driving undermines the integrity of the driver licensing system and is associated with a range of high-risk behaviours. This report examines official road crash data from Queensland for the years 2003-08 to compare the crash involvement patterns of unlicensed drivers with those of licensed drivers and explore the scope and nature of unlicensed driving. This study replicates and extends upon two previous studies examining the involvement of unlicensed drivers in crashes in Queensland (Watson, 2004a; 2004b; Watson & Steinhardt, 2006).

Estimating the prevalence of unregistered driving in Queensland. Report to Queensland Department of Transport and Main Roads

A state-wide observational study was undertaken by the Centre for Accident Research and Road Safety – Queensland (CARRS-Q) in order to investigate the prevalence of unregistered vehicles on Queensland roads. This study was conducted on behalf of the Queensland department of Transport and Main Roads (TMR). This study builds upon research commissioned by Queensland Transport and conducted in 2000, 2003 and 2005. Vehicles were observed throughout Queensland from April 13th, 2010 to May 8th, 2010 in a mix of small rural towns, regional centres and metropolitan locations. The locations sampled for this study were restricted to destinations (e.g. shopping centres, hospitals, airports and park-and-ride facilities) rather than residential areas, and a variety of different destinations were sampled. Sampling vehicles in these types of locations provides a higher probability that the vehicles captured in the survey are being driven on a regular basis (Younglove, et al. 2004).

Links between unlicensed and unregistered driving: Literature review. Report to Queensland Department of Transport and Main Roads

Vehicle registration represents an important component of the management of the road transport system in Queensland, with most vehicles required to be registered before they can be driven or parked on a public road (Department of Transport and Main Roads, 2010b). In addition to the collection of taxes for road construction and maintenance, the current registration system also: • Sets the safety standards required for vehicles to be allowed on public roads; • Allows driver behaviour to be managed by identifying vehicles, and the responsible owners of vehicles, for enforcement purposes; and • Facilitates the collection of insurance premiums for the Queensland Compulsory Third Party (CTP) insurance scheme.

Final report : Estimating the extent of unlicensed driving: Roadside licence check survey - Wave2. Report to Queensland Department of Transport and Main Roads

This report documents a second, revised roadside licence check survey undertaken by the Queensland Police Service (QPS) in conjunction with roadside random breath testing (RBT) traffic operations. The methodology utilised was devised by the Centre for Accident Research and Road Safety – Queensland (CARRS-Q), Transport and Main Roads (TMR) and QPS, after consideration of a number of options.

An examination of the factors contributing to unlicensed driving. Report to Queensland Department of Transport and Main Roads

Unlicensed driving is a serious problem in many countries, despite ongoing improvements in traffic law enforcement practices and technology. Unlike alcohol impairment and speeding, unlicensed driving does not play a direct causative role in road crashes. However it represents a major problem for road safety in two respects. Firstly, it undermines the effectiveness of driver licensing systems by preventing the allocation of demerit points and reducing the impact of licence loss (Watson, 2004b). Secondly, there is a growing body of evidence linking unlicensed driving to a cluster of high-risk behaviours including drink driving, speeding, failure to wear seat belts and motorcycle use (Griffin & DeLaZerda, 2000; Harrison, 1997; Watson, 1997, 2004b). Consistent with this, utilising the quasi-induced exposure method, Watson (2004a) estimated that in Queensland, unlicensed drivers were almost three times more likely to be involved in a reported crash than licensed drivers.

Profiling unlicensed drivers and riders in Queensland. Report to Queensland Department of Transport and Main Roads

Unlicensed driving remains a serious problem for road safety, despite ongoing improvements in traffic law enforcement practices and technology. This report examines de-identified traffic infringement and sanction histories for drivers in Queensland who had lost their licence between 1st January 2003 and 31st December 2008. A total of 546,117 Queensland drivers were identified. Key areas discussed include the prevalence of unlicensed driving and the extent to which particular offences were detected amongst drivers with a licence sanction or disqualified licence.

Crash involvement patterns of unlicensed drivers: Literature review. Report to Queensland Department of Transport and Main Roads

There is a lack of definitive evidence available relating to the extent and nature of unlicensed driving. Analysis of the crash involvement of unlicensed drivers provides an opportunity to better understand the behaviours of this group. This paper reviews the available literature relating to crash involvement patterns of unlicensed drivers. Key areas discussed include the prevalence of unlicensed driving as indicated by studies of crashes involving this group and associations between unlicensed driving and higher levels of risk-taking on the road. This paper also notes differences found in the characteristics and on-road behaviour of unlicensed drivers and the degree to which these factors, in particular alcohol and drug misuse, may influence crash involvement patterns. Drawing on Australian and international studies, this paper consolidates the available research evidence and identifies gaps in current knowledge relating to crash involvement patterns of unlicensed drivers.

Unlicensed and unregistered vehicle project: Summary report. Report to Queensland Department of Transport and Main Roads

Unlicensed driving remains a serious problem for road safety, despite ongoing improvements in traffic law enforcement practices and technology. While it does not play a direct causative role in road crashes, unlicensed driving undermines the integrity of the driver licensing system and is associated with a range of high-risk behaviours. The Queensland Transport and Main Roads (TMR) commissioned a program of research with separate components relating to different aspects of unlicensed driving. Drawing on Australian and international studies, the Unlicensed and Unregistered Vehicle (UUV) project explores the nature of unlicensed driving in Queensland, consolidates the available research evidence and identifies gaps in current knowledge relating to the driving behaviours of unlicensed drivers.

Links between unlicensed and unregistered driving (Data analysis). Report to Queensland Department of Transport and Main Roads

There is a current lack of understanding regarding the use of unregistered vehicles on public roads and road-related areas, and the links between the driving of unregistered vehicles and a range of dangerous driving behaviours. This report documents the findings of data analysis conducted to investigate the links between unlicensed driving and the driving of unregistered vehicles, and is an important initial undertaking into understanding these behaviours. This report examines de-identified data from two sources: crash data; and offence data. The data was extracted from the Queensland Department of Transport and Main Roads (TMR) databases and covered the period from 2003 to 2008.

A submission to the Tasmanian Department of Health and Human Services consultation “Healthy Tasmania Five Year Strategic Plan”

This submission will address a number of questions raised in section 5.2, “Potential Future Initiatives to target smoking”, of the Healthy Tasmania Five Year Strategic Plan – Community Consultation Draft. Each question has been answered within this submission. This submission will also address the possibility of legal challenges to these proposed changes, a pivotal consideration when implementing any tobacco control laws. This is due to the aggressive nature of the tobacco industry, as illustrated by their attempts to challenge plain packaging laws in the country and through international treaties. The evidence provided in my submission illustrates that prevention of initiation of smoking during adolescence has various benefits in terms of reduction of negative smoking behaviors in later life. I argue that increasing the minimum legal age of purchasing for tobacco to 21 will benefit both the levels of underage smoking as well as the age of onset of initiation of smoking, due to the greater difficulties that those who are underage would experience in accessing tobacco products. I will also address the question of whether the minimum smoking age should be increased to 25.

Essays on Stock Option Compensation and the Role of Incentives and Risk (summary section only)

Managerial pay-for-performance sensitivity has increased rapidly around the world. Early empirical research showed that pay-for-performance sensitivity resulting from stock ownership and stock options appeared to be quite low during the 1970s and early 1980s in the U.S. However, recent empirical research from the U.S. shows an enormous increase in pay-for-performance sensitivity. The global trend has also reached Finland, where stock options have become a major ingredient of executive compensation. The fact that stock options seem to be an appealing form of remuneration from a theoretical point of view combined with the observation that the use of this compensation form has increased significantly during the recent years, implies that research on the dynamics of stock option compensation is highly relevant for the academic community, as well as for practitioners and regulators. The research questions of the thesis are analyzed in four separate essays. The first essay examines whether stock option compensation practices of Finnish firms are consistent with predictions from principal-agent theory. The second essay explores one of the major puzzles in the compensation literature by studying determinants of stock option contract design. In theory, optimal contract design should vary according to firm characteristics. However, in the U.S., variation in contract design seems to be surprisingly low, a phenomenon generally attributed to tax and accounting considerations. In Finland, however, firms are not subject to stringent contracting restrictions, and the variation in contract design tends, in fact, to be quite substantial. The third essay studies the impact of price- and risk incentives arising from stock option compensation on firm investment. In addition, the essay explores one of the most debated questions in the literature, in particular, the relation between incentives and firm performance. Finally, several strands of literature in both economics and corporate finance hypothesize that economic uncertainty is related to corporate decision-making. Previous research has shown that risk tends to slow down firm investment. In the fourth essay, it is hypothesized that firm risk slows down growth from a more universal perspective. Consistent with this view, it is shown that risk not only tends to slow down firm investment, but also employment growth. Moreover, the essay explores whether the nature of firms’ compensation policies, in particular, whether firms make use of stock option compensation, affects the relation between risk and firm growth. In summary, the four essays contribute to the current understanding of stock options as a form of equity incentives, and how incentives and risk affect corporate decision-making. By this, the thesis promotes the knowledge related to the modern theory of the firm.

The expiration day effect of indexoptions and index futures on the underlying shares

This paper studies the effect of the expiration day of index options and futures on the trading volume, variance and price of the underlying shares. The data consists of all trades for the underlying shares in the FOX-index for expiration days during the period October 1995 to the mid of yer 1999. The main results seem to support the findings of Kan 2001, i.e. no manipulation on a larger scale. However, some indication of manipulation could be found if certain characteristics are favorable. These characteristics include: a) a large quantity of outstanding futures or at/in the money options contracts, b) there exists shares with high index weight but fairly low trading volume. Lastly, there is some indication that manipulation might be more popular towards the end of the examined time period.

An Empirical Comparison of Linear and Nonlinear Volatility Models for Nordic Stock Returns

This paper examines how volatility in financial markets can preferable be modeled. The examination investigates how good the models for the volatility, both linear and nonlinear, are in absorbing skewness and kurtosis. The examination is done on the Nordic stock markets, including Finland, Sweden, Norway and Denmark. Different linear and nonlinear models are applied, and the results indicates that a linear model can almost always be used for modeling the series under investigation, even though nonlinear models performs slightly better in some cases. These results indicate that the markets under study are exposed to asymmetric patterns only to a certain degree. Negative shocks generally have a more prominent effect on the markets, but these effects are not really strong. However, in terms of absorbing skewness and kurtosis, nonlinear models outperform linear ones.