Dislodgement of commercial property public debt markets : the case of U.S. and Australia

The paper investigates if there are any discernible trends in the U.S. and Australian commercial property public debt markets with the onset of the global financial crisis (GFC). Commercial mortgage-backed securities and unsecured bonds issued by real estate investment trusts for the period 2000 to Q3:2009 are reviewed. It is shown that events in the equity markets have an impact on the pricing of these two instruments. Furthermore, the impact of subdued activity in these financing instruments on the commercial property market is discussed.

Determinants and market impact of seasoned equity offerings : the case of A-REITs

The paper examines the decision by Australian Real Estate Trusts (A-REITs) to issue seasoned equity offerings from 2000 - 2008 and stock market reaction to the offerings. The findings reveal that highly leveraged A-REITs with variable earnings are less likely to issue seasoned equity offerings. Inconsistent results for structure and type of properties held by the A-REIT do not allow for inference to be drawn. Similar to previous studies of seasoned equity offerings, we find a significant negative abnormal return associated with their announcement and no evidence of excessive leakage of information. Furthermore, market reaction differences to announcements of SEOs for the pre-global financial crisis (GFC) (2000-2006) and GFC eras (2007-2008) are noted with GFC era shareholders incurring larger abnormal return losses at 1.13% in comparison to the pre-GFC era shareholder loss of 0.34% on the SEO announcement day. Cross-sectional regressions show that the issued amount, leverage and profitability are significant factors affecting abnormal returns. Growth opportunities, tangibility, operating risk, size of A-REIT and other variables capturing A-REIT structure and property types held do not have an impact on abnormal returns

Application of text mining in analysing road crashes for road asset management

Traffic safety is a major concern world-wide. It is in both the sociological and economic interests of society that attempts should be made to identify the major and multiple contributory factors to those road crashes. This paper presents a text mining based method to better understand the contextual relationships inherent in road crashes. By examining and analyzing the crash report data in Queensland from year 2004 and year 2005, this paper identifies and reports the major and multiple contributory factors to those crashes. The outcome of this study will support road asset management in reducing road crashes.

Damage assessment of 3D reinforced concrete frame under external explosion loading

Multi-storey buildings are highly vulnerable to terrorist bombing attacks in various parts of the world. Large numbers of casualties and extensive property damage result not only from blast overpressure, but also from the failing of structural components. Understanding the blast response and damage consequences of reinforced concrete (RC) building frames is therefore important when assessing multi-storey buildings designed to resist normal gravity loads. However, limited research has been conducted to identify the blast response and damage of RC frames in order to assess the vulnerability of entire buildings. This paper discusses the blast response and evaluation of damage of three-dimension (3D) RC rigid frame under potential blast loads scenarios. The explicit finite element modelling and analysis under time history blast pressure loads were carried out by LS DYNA code. Complete 3D RC frame was developed with relevant reinforcement details and material models with strain rate effect. Idealised triangular blast pressures calculated from standard manuals are applied on the front face of the model in the present investigation. The analysis results show the blast response, as displacements and material yielding of the structural elements in the RC frame. The level of damage is evaluated and classified according to the selected load case scenarios. Residual load carrying capacities are evaluated and level of damage was presented by the defined damage indices. This information is necessary to determine the vulnerability of existing multi-storey buildings with RC frames and to identify the level of damage under typical external explosion environments. It also provides basic guidance to the design of new buildings to resist blast loads.

Design of Mono-symmetric LiteSteel Beam Floor Joists with Web Openings

The new cold-formed LiteSteel beam (LSB) sections have found increasing popularity in residential, industrial and commercial buildings due to their lightweight and cost-effectiveness. They have the beneficial characteristics of including torsionally rigid rectangular flanges combined with economical fabrication processes. Currently there is significant interest in using LSB sections as flexural members in floor joist systems. When used as floor joists, the LSB sections require holes in the web to provide access for inspection and various services. But there are no design methods that provide accurate predictions of the moment capacities of LSBs with web holes. In this study, the buckling and ultimate strength behaviour of LSB flexural members with web holes was investigated in detail by using a detailed parametric study based on finite element analyses with an aim to develop appropriate design rules and recommendations for the safe design of LSB floor joists. Moment capacity curves were obtained using finite element analyses including all the significant behavioural effects affecting their ultimate member capacity. The parametric study produced the required moment capacity curves of LSB section with a range of web hole combinations and spans. A suitable design method for predicting the ultimate moment capacity of LSB with web holes was finally developed. This paper presents the details of this investigation and the results

Developing authentic achievement for disengaged young people using an electronic portfolio system

Credentials are a salient form of cultural capital and if a student’s learning and productions are not assessed, they are invisible in current social systems of education and employment. In this field, invisible equals non-existent. This paper arises from the context of an alternative education institution where conventional educational assessment techniques currently fail to recognise the creativity and skills of a cohort of marginalised young people. In order to facilitate a new assessment model an electronic portfolio system (EPS) is being developed and trialled to capture evidence of students’ learning and their productions. In so doing a dynamic system of arranging, exhibiting, exploiting and disseminating assessment data in the form of coherent, meaningful and valuable reports will be maintained. The paper investigates the notion of assessing development of creative thinking and skills through the means of a computerised system that operates in an area described as the efield. A model of the efield is delineated and is explained as a zone existing within the internet where free users exploit the cloud and cultivate social and cultural capital. Drawing largely on sociocultural theory and Bourdieu’s concepts of field, habitus and capitals, the article positions the efield as a potentially productive instrument in assessment for learning practices. An important aspect of the dynamics of this instrument is the recognition of teachers as learners. This is seen as an integral factor in the sociocultural approach to assessment for learning practices that will be deployed with the EPS. What actually takes place is argued to be assessment for learning as a field of exchange. The model produced in this research is aimed at delivering visibility and recognition through an engaging instrument that will enhance the prospects of marginalised young people and shift the paradigm for assessment in a creative world.

Communication infrastructure study for precise positioning services in regional Queensland

Providing precise positioning services in regional areas to support agriculture, mining, and construction sectors depends on the availability of ground continuously operating GNSS reference stations and communications linking these stations to central computers and users. With the support of CRC for Spatial Information, a more comprehensive review has been completed recently to examine various wired and wireless communication links available for precise positioning services, in particular in the Queensland regional areas. The study covers a wide range of communication technologies that are currently available, including fixed, mobile wireless, and Geo-stationary and or low earth orbiting satellites. These technologies are compared in terms of bandwidth, typical latency, reliability, coverage, and costs. Additionally, some tests were also conducted to determine the performances of different systems in the real environment. Finally, based on user application requirements, the paper discusses the suitability of different communication links.

A high voltage power converter with a frequency and voltage controller

A high voltage power converter is presented in this paper and is based on a Capacitor-Diode Voltage Multiplier (CDVM) supplied through an inverter. This power converter has the capabilities of generating variable high DC voltage with improved transient response. The simulation results which are presented in this paper verify that due to its fast transient response, this converter can be used as a high DC voltage source in many applications.

Using a current source to improve efficiency of a plasma system

This paper presents the possibility of utilizing a current source topology instead of a voltage source as an efficient, flexible and reliable power supply for plasma applications. A buck-boost converter with a current controller has been used to transfer energy from an inductor to a plasma system. A control strategy has also been designed to satisfy all the desired purposes. The main concept behind this topology is to provide high dv/dt regardless of the switching speed of a power switch and to control the current level to properly transfer adequate energy to various plasma applications.

Economic issues in funding and supplying public sector information [Presentation slides]

PowerPoint presentation by Dr John S Cook at the Spatially Enabled Government Summit 2009, Mapping the Future of Interoperability, Data Collection & Data Management for Operational Excellence within Australian Government, held on 24-27 August, 2009 at the Marque Hotel, Canberra, ACT

Creative Industries

We are experiencing a period of profound social and economic transformation. This is a shift from an industrial economy to a knowledge economy (or a “creative economy”; or an “economy of the imagination”.) This new, emerging economic system is fundamentally organised around people (not machines or buildings); and around place. We heard Richard Florida argue that creative, talented people won’t go to where the job is, but vice versa, the job will come to them. So according to Florida, where we live is becoming the primary factor in global economic development. (Incidentally, it is worth contrasting this idea with the alternative proposition - put by speakers at this Forum - of “new nomadism”, that is, that creativity is nomadic and not bound by place.)

Abandoned object detection using multi-layer motion detection

Abandoned object detection (AOD) systems are required to run in high traffic situations, with high levels of occlusion. Systems rely on background segmentation techniques to locate abandoned objects, by detecting areas of motion that have stopped. This is often achieved by using a medium term motion detection routine to detect long term changes in the background. When AOD systems are integrated into person tracking system, this often results in two separate motion detectors being used to handle the different requirements. We propose a motion detection system that is capable of detecting medium term motion as well as regular motion. Multiple layers of medium term (static) motion can be detected and segmented. We demonstrate the performance of this motion detection system and as part of an abandoned object detection system.

Multi-sensor tracking using a scalable condensation filter

Surveillance and tracking systems typically use a single colour modality for their input. These systems work well in controlled conditions but often fail with low lighting, shadowing, smoke, dust, unstable backgrounds or when the foreground object is of similar colouring to the background. With advances in technology and manufacturing techniques, sensors that allow us to see into the thermal infrared spectrum are becoming more affordable. By using modalities from both the visible and thermal infrared spectra, we are able to obtain more information from a scene and overcome the problems associated with using visible light only for surveillance and tracking. Thermal images are not affected by lighting or shadowing and are not overtly affected by smoke, dust or unstable backgrounds. We propose and evaluate three approaches for fusing visual and thermal images for person tracking. We also propose a modified condensation filter to track and aid in the fusion of the modalities. We compare the proposed fusion schemes with using the visual and thermal domains on their own, and demonstrate that significant improvements can be achieved by using multiple modalities.

Object tracking using multiple motion modalities

This paper presents an object tracking system that utilises a hybrid multi-layer motion segmentation and optical flow algorithm. While many tracking systems seek to combine multiple modalities such as motion and depth or multiple inputs within a fusion system to improve tracking robustness, current systems have avoided the combination of motion and optical flow. This combination allows the use of multiple modes within the object detection stage. Consequently, different categories of objects, within motion or stationary, can be effectively detected utilising either optical flow, static foreground or active foreground information. The proposed system is evaluated using the ETISEO database and evaluation metrics and compared to a baseline system utilising a single mode foreground segmentation technique. Results demonstrate a significant improvement in tracking results can be made through the incorporation of the additional motion information.

Bayes factor based speaker clustering for speaker diarization

This paper proposes the use of the Bayes Factor to replace the Bayesian Information Criterion (BIC) as a criterion for speaker clustering within a speaker diarization system. The BIC is one of the most popular decision criteria used in speaker diarization systems today. However, it will be shown in this paper that the BIC is only an approximation to the Bayes factor of marginal likelihoods of the data given each hypothesis. This paper uses the Bayes factor directly as a decision criterion for speaker clustering, thus removing the error introduced by the BIC approximation. Results obtained on the 2002 Rich Transcription (RT-02) Evaluation dataset show an improved clustering performance, leading to a 14.7% relative improvement in the overall Diarization Error Rate (DER) compared to the baseline system.