Secondary market for commercial business loans : hearing before the Subcommittee on Economic Growth and Credit Formation of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, first session, March 9, 1993.

Mode of access: Internet.

Secondary market for commercial business loans : hearing before the Subcommittee on Economic Growth and Credit Formation of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, first session, February 16, 1993.

Mode of access: Internet.

H.R. 2600, the Business, Commercial, and Community Development Secondary Market Development Act : hearing before the Subcommittee on Economic Growth and Credit Formation of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, first session, October 7, 1993.

Mode of access: Internet.

H.R. 2600, the Business, Commercial, and Community Development Secondary Market Development Act : hearing before the Subcommittee on Economic Growth and Credit Formation of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Third Congress, first session, September 23, 1993.

Mode of access: Internet.

Rural credits bill. Comparative print, showing S.2986, a bill to provide capital for agricultural development, to create a standard form of investment based upon farm mortgage, to equalize rates of interest upon farm loans, to furnish a market for United States bonds, to provide for the investment of postal savings deposits, to create government depositaries and financial agents for the United States, and for other purposes, as passed by the Senate and as passed by the House of representatives.

In parallel columns.

Secondary market pricing behaviour around UK bond auctions

Using an event study approach, this article reports evidence that the UK Treasury bond market displayed anomalous pricing behaviour in the secondary market both immediately before and after auctions of seasoned bonds. Using a benchmark return derived from the behaviour of the underlying yield curve, the market offered statistically and economically significant excess returns, around the auctions held between 1992 and 2004. A cross-sectional analysis of the cumulative excess returns shows that the excess demand at the auctions is a key determinant of this excess return.

Democracy lessons in market-oriented schools : The case of Swedish upper secondary education

Based on recent ethnographic research, this article explores young people’s opportunities of formal and informal democracy learning and expressions of such learning in the highly market-influenced Swedish upper secondary education. With its ambitious democracy-fostering goals and far-reaching marketisation, Swedish education constitutes an interesting case in this respect. The analysis indicates that ‘voting with the feet’ emerges as an important way of exerting student influence. At the same time, young people’s voice is surprisingly neglected in classroom practice. Increased focus on performance and goal attainment tends to overshadow less ‘rewarding’ aspects of the curriculum, such as democracy teaching and learning, both from the side of teachers and students. Students are also increasingly expected to act as school representatives and to avoid giving negative impressions of their school.

Market Structures in Air Conditioning Maintenance Activity

It is questionable whether activities like construction, including maintenance and repair, can be considered a single entity or industry - on the basis that different sectors of construction/maintenance use fundamentally distinct resource and skill bases. This creates a number of issues including the development of competition and reform policy. de Valance deployed the Structure-Conduct-Performance model (SCP) to delineate sectors of new/installation construction activity and, in doing so, proposes that there exists multiple market structures in a given project. The purpose of this paper is to apply the SCP model to a different sector of construction activity, that is air conditioning maintenance and test de Valance's proposition concerning the existence of multiple market structures in a supply chain but this time to a built facility. The research method combines secondary data concerning the "Structure" component of the SCP model and primary data with regard to the "Conduct" and "Performance" parts of the SCP model. The results provide further support (beyond de Valance's analysis of new/installation activity) that a sector system approach using the SCP model is a more effective way to analyse market structures in construction activity. This paper also supports de Valance's proposition concerning the existence of multiple market structures in a supply chain to a project/facility.

The appeal of the International Baccalaureate in Australia’s educational market: A curriculum of choice for mobile futures

In Australia there is growing interest in a national curriculum to replace the variety of matriculation credentials managed by State Education departments, ostensibly to address increasing population mobility. Meanwhile, the International Baccalaureate (IB) is attracting increasing interest and enrolments in State and private schools in Australia, and has been considered as one possible model for a proposed Australian Certificate of Education. This paper will review the construction of this curriculum in Australian public discourse as an alternative frame for producing citizens, and ask why this design appeals now, to whom, and how the phenomenon of its growing appeal might inform national curricular debates. The IB’s emergence is understood with reference to the larger context of neo-liberal marketization policies, neo-conservative claims on the curriculum and middle class strategy. The paper draws on public domain documents from the IB Organisation and newspaper reportage to demonstrate how the IB is constructed for public consumption in Australia.

Selling education through “culture” : responses to the market by new, non-government schools

The move to a market model of schooling has seen a radical restructuring of the ways schooling is “done” in recent times in Western countries. Although there has been a great deal of work to examine the effects of a market model on local school management (LSM), teachers’ work and university systems, relatively little has been done to examine its effect on parents’ choice of school in the non-government sector in Australia. This study examines the reasons parents give for choosing a non-government school in the outer suburbs of one large city in Australia. Drawing on the work of Bourdieu specifically his ideas on “cultural capital” (1977), this study revealed that parents were choosing the non-government school over the government school to ensure that their children would be provided, through the school’s emphasis on cultural capital, access to a perceived “better life” thus enhancing the potential to facilitate “extraordinary children”, one of the school’s marketing claims.

Towards testing the eclectic paradigm on multinational contracting: an approach to reviewing and analysing secondary data

In response to the need to leverage private finance and the lack of competition in some parts of the Australian public sector major infrastructure market, especially in very large economic infrastructure procured using Pubic Private Partnerships, the Australian Federal government has demonstrated its desire to attract new sources of in-bound foreign direct investment (FDI) into the Australian construction market. This paper aims to report on progress towards an investigation into the determinants of multinational contractors’ willingness to bid for Australian public sector major infrastructure projects and which is designed to give an improved understanding of matters surrounding FDI into the Australian construction sector. This research deploys Dunning’s eclectic theory for the first time in terms of in-bound FDI by multinational contractors and as head contractors bidding for Australian major infrastructure public sector projects. Elsewhere, the authors have developed Dunning’s principal hypothesis associated with his eclectic framework in order to suit the context of this research and to address a weakness arising in Dunning’s principal hypothesis that is based on a nominal approach to the factors in the eclectic framework and which fail to speak to the relative explanatory power of these factors. In this paper, an approach to reviewing and analysing secondary data, as part of the first stage investigation in this research, is developed and some illustrations given, vis-à-vis the selected sector (roads, bridges and tunnels) in Australia (as the host location) and using one of the selected home countries (Spain). In conclusion, some tentative thoughts are offered in anticipation of the completion of the first stage investigation - in terms of the extent to which this first stage based on secondary data only might suggest the relative importance of the factors in the eclectic framework. It is noted that more robust conclusions are expected following the future planned stages of the research and these stages including primary data are briefly outlined. Finally, and beyond theoretical contributions expected from the overall approach taken to developing and testing Dunning’s framework, other expected contributions concerning research method and practical implications are mentioned.

The growth and international expansion of an emerging market retailer in Latin America

This study contributes to the literature on international retailing by addressing a gap in the literature as to how retailers from emerging markets expand internationally. This historical case study analyzes the growth and internationalization process of Chilean retailer Falabella, one of the largest in Latin America and has been able to compete with multinationals from developed countries. The research is based upon primary and secondary data sources including 33 oral interviews with company managers and family executives, as well as industry data, corporate reports, and trade journals. Drawing on institutional theory, the findings show that by belonging to a family conglomerate, engaging in networks and partnerships, organizational learning, and having an experienced management team helped Falabella gain legitimacy in all international markets.

A first stage test of Dunning's framework on multinational contracting into Australia : reviewing secondary data.

In response to the need to leverage private finance and the lack of competition in some parts of the Australian public sector infrastructure market, especially in the very large economic infrastructure sector procured using Pubic Private Partnerships, the Australian Federal government has demonstrated its desire to attract new sources of in-bound foreign direct investment (FDI). This paper aims to report on progress towards an investigation into the determinants of multinational contractors’ willingness to bid for Australian public sector major infrastructure projects. This research deploys Dunning’s eclectic theory for the first time in terms of in-bound FDI by multinational contractors into Australia. Elsewhere, the authors have developed Dunning’s principal hypothesis to suit the context of this research and to address a weakness arising in this hypothesis that is based on a nominal approach to the factors in Dunning's eclectic framework and which fails to speak to the relative explanatory power of these factors. In this paper, a first stage test of the authors' development of Dunning's hypothesis is presented by way of an initial review of secondary data vis-à-vis the selected sector (roads and bridges) in Australia (as the host location) and with respect to four selected home countries (China; Japan; Spain; and US). In doing so, the next stage in the research method concerning sampling and case studies is also further developed and described in this paper. In conclusion, the extent to which the initial review of secondary data suggests the relative importance of the factors in the eclectic framework is considered. It is noted that more robust conclusions are expected following the future planned stages of the research including primary data from the case studies and a global survey of the world’s largest contractors and which is briefly previewed. Finally, and beyond theoretical contributions expected from the overall approach taken to developing and testing Dunning’s framework, other expected contributions concerning research method and practical implications are mentioned.

Costco and the Aussie shopper : a case study of the market entry of an international retailer

Retailing is a globalized industry yet retailers must respond to local shopping habits if they are to be perceived as legitimate by the host country customers. However, some retailers may be unable or unwilling to respond to all customer requirements. Costco, the membership warehouse club retailer, has been successful in its international expansion efforts, establishing its first Australian store in Melbourne in 2009. In the first twelve months of operation, the store became one of Costco’s top five stores in the world. We investigate this success focussing on the customer, and use institutional theory to analyze what concessions were made by the customer and the company. Data were collected from consumer interviews, site visits and secondary media and industry sources. Analysis revealed negotiations based on the rejection, acceptance or adaptation of the regulative, normative and cultural cognitive aspects of the Australian shopper and the Costco business model. Customers made concessions to accommodate the new business model, and Costco responded to entrenched Australian shopping habits. This case is the first to explore the outcome of retail internationalization from the customers’ perspective, revealing the concept of mutual concessions. The interaction and subsequent adaptation by both customer and retailer have resulted in the institutionalization of new shopping norms in the host country and success for the international retailer.

A question of agency : applying Sen’s theory of human capability to the concept of secondary school student career ‘choice’

In this paper, we seek to operationalize Amartya Sen's concept of human capability to guide a scholarly investigation of student career choice capability. We begin by outlining factors affecting youth labour markets in Australia; a prosperous country that is affected by a ‘two-speed’ national economy. We then examine recent government initiatives that have been designed to combat youth unemployment and cyclical disadvantage by enhancing the aspirations and career knowledge of secondary school students. We argue that these policy measures are based on four assumptions: first, that career choice capability is a problem of individual agency; second, that the dissemination of career information can empower students to act as ‘consumers’ in an unequal job market; third, that agency is simply a question of will; and finally, that school education and career advice – as a means to freedom in the space of career development – is of equal quality, distribution and value to an increasingly diverse range of upper secondary school students. The paper concludes by outlining a conceptual framework capable of informing an empirical research project that aims to test these assumptions by measuring and comparing differences between groups in the range of freedom to achieve and, therefore, to choose.