Statutory-backed continuous disclosure regime and corporate disclosure behaviour : does corporate governance matter?

Since 1 December 2002, the New Zealand Exchange’s (NZX) continuous disclosure listing rules have operated with statutory backing. To test the effectiveness of the new corporate disclosure regime, we compare the change in quantity of market announcements (overall, non-routine, non-procedural and external) released to the NZX before and after the introduction of statutory backing. We also extend our study in investigating whether the effectiveness of the new corporate disclosure regime is diminished or augmented by corporate governance mechanisms including board size, providing separate roles for CEO and Chairman, board independence, board gender diversity and audit committee independence. Our findings provide a qualified support for the effectiveness of the new corporate disclosure regime regarding the quantity of market disclosures. There is strong evidence that the effectiveness of the new corporate disclosure regime was augmented by providing separate roles for CEO and Chairman, board gender diversity and audit committee independence, and diminished by board size. In addition, there is significant evidence that share price queries do impact corporate disclosure behaviour and this impact is significantly influenced by corporate governance mechanisms. Our findings provide important implications for corporate regulators in their quest for...

Online environmental citizenship : blogs, green marketing and consumer sentiment in the 21st Century

Over the last three decades, the rise in consumer generated content has enabled more environmentally conscious points of view to effect mainstream opinion (Kalafatis, Pollard, East & Tsogas, 1999; Barber, Taylor & Strick, 2009). Consequently, more people are buying into environmentalist ideology and organizing themselves to influence social change. Focus has shifted from attracting public awareness to concern for green ideas, discourse, and environmental citizenship, the latter becoming the guideline by which debates on such topics are regulated (Follows & Jobber, 2000; Dobson, 2003).

Long exposure localization in darkness using consumer cameras

In this paper we demonstrate passive vision-based localization in environments more than two orders of magnitude darker than the current benchmark using a 100 webcam and a 500 camera. Our approach uses the camera’s maximum exposure duration and sensor gain to achieve appropriately exposed images even in unlit night-time environments, albeit with extreme levels of motion blur. Using the SeqSLAM algorithm, we first evaluate the effect of variable motion blur caused by simulated exposures of 132 ms to 10000 ms duration on localization performance. We then use actual long exposure camera datasets to demonstrate day-night localization in two different environments. Finally we perform a statistical analysis that compares the baseline performance of matching unprocessed greyscale images to using patch normalization and local neighbourhood normalization – the two key SeqSLAM components. Our results and analysis show for the first time why the SeqSLAM algorithm is effective, and demonstrate the potential for cheap camera-based localization systems that function across extreme perceptual change.

Book Review : "The Psychology of Eating : From Healthy to Disordered Behaviour"

WHEN JANE Ogden embarked on writing a book about the psychology of eating I wonder whether she realized the enormity of the task given the breadth of research literature in this field. Through a series of 12 closely related chapters on eating, health, food choice, dieting, obesity, body image, eating disorders and others, an extensive range of areas of the psychology of eating is covered. As well as these areas, included within each chapter is a discussion of the significance of historical, cultural, social and familial factors, theoretical approaches and empirical data in the understanding of the multifaceted problems related to eating. At the end of each chapter there is a box entitled ‘Towards an integrated model of diet’ that links the content with that of the following chapters...

Embedding graphic organisers in the teaching and learning of family and consumer sciences (home economics) in Kuwait

Educational reforms currently being enacted in Kuwaiti Family and Consumer Sciences (FCS) in response to contemporary demands for increased student-centred teaching and learning are challenging for FCS teachers due to their limited experience with student-centred learning tools such as Graphic Organisers (GOs). To adopt these reforms, Kuwaiti teachers require a better understanding of and competency in promoting cognitive learning processes that will maximise student-centred learning approaches. This study followed the experiences of four Grade 6 FCS Kuwaiti teachers as they undertook a Professional Development (PD) program specifically designed to advance their understanding of the use of GOs and then as they implemented what they had learned in their Grade 6 FCS classroom. The PD program developed for this study was informed by Nasseh.s competency PD model as well as Piaget and Ausubel.s cognitive theories. This model enabled an assessment and evaluation of the development of the teachers. competencies as an outcome of the PD program in terms of the adoption of GOs, in particular, and their capacity to use GOs to engage students in personalised, in-depth, learning through critical thinking and understanding. The research revealed that the PD program was influential in reforming the teachers. learning, understanding of and competency in, cognitive and visual theories of learning, so that they facilitated student-centred teaching and learning processes that enabled students to adopt and adapt GOs in constructivist learning. The implementation of five GOs - Flow Chart, Concept Maps, K-W-L Chart, Fishbone Diagram and Venn Diagram - as learning tools in classrooms was investigated to find if changes in pedagogical approach for supporting conceptual learning through cognitive information processing would reduce the cognitive work load of students and produce better learning approaches. The study as evidenced by the participant teachers. responses and classroom observations, showed a marked increase in student interest, participation, critical thought, problem solving skills, as a result of using GOs, compared to using traditional teaching and learning methods. A theoretical model was developed from the study based on the premise that teachers. knowledge of the subject, pedagogy and student learning precede the implementation of student-centred learning reform, that it plays an important role in the implementation of student-centred learning and that it brings about a change in teaching practice. The model affirmed that observed change in teaching-practice included aspects of teachers. beliefs, as well as confidence and effect on workplace and on student learning, including engagement, understanding, critical thinking and problem solving. The model assumed that change in teaching practice is inseparable from teachers. lifelong PD needs related to knowledge, understanding, skills and competency. These findings produced a set of preliminary guidelines for establishing student-centred constructivist strategies in Kuwaiti education while retaining Kuwait.s cultural uniqueness.

Statutory-backed continuous disclosure regime and corporate disclosure behaviour : does corporate governance matter?

Since 1 December 2002, the New Zealand Exchange’s (NZX) continuous disclosure listing rules have operated with statutory backing. To test the effectiveness of the new corporate disclosure regime, we compare the change in quantity of market announcements (overall, non-routine, non-procedural and external) released to the NZX before and after the introduction of statutory backing. We also extend our study in investigating whether the effectiveness of the new corporate disclosure regime is diminished or augmented by corporate governance mechanisms including board size, providing separate roles for CEO and Chairman, board independence, board gender diversity and audit committee independence. Our findings provide a qualified support for the effectiveness of the new corporate disclosure regime regarding the quantity of market disclosures. There is strong evidence that the effectiveness of the new corporate disclosure regime was augmented by providing separate roles for CEO and Chairman, board gender diversity and audit committee independence, and diminished by board size. In addition, there is significant evidence that share price queries do impact corporate disclosure behaviour and this impact is significantly influenced by corporate governance mechanisms. Our findings provide important implications for corporate regulators in their quest for a superior disclosure regime.

A hybrid association rule mining approach for characterizing network traffic behaviour

Understanding network traffic behaviour is crucial for managing and securing computer networks. One important technique is to mine frequent patterns or association rules from analysed traffic data. On the one hand, association rule mining usually generates a huge number of patterns and rules, many of them meaningless or user-unwanted; on the other hand, association rule mining can miss some necessary knowledge if it does not consider the hierarchy relationships in the network traffic data. Aiming to address such issues, this paper proposes a hybrid association rule mining method for characterizing network traffic behaviour. Rather than frequent patterns, the proposed method generates non-similar closed frequent patterns from network traffic data, which can significantly reduce the number of patterns. This method also proposes to derive new attributes from the original data to discover novel knowledge according to hierarchy relationships in network traffic data and user interests. Experiments performed on real network traffic data show that the proposed method is promising and can be used in real applications. Copyright2013 John Wiley & Sons, Ltd.

The study of design elements and people’s behaviour in campus public space : how design shapes user’s behaviour

A growing body of researches provided evidence of the successful design in particular focus on design elements, ranging from colour, lighting, technology, landscape and spatial arrangement. However, no example or literature investigates the opportunities for linking these design elements in a practical base. Drawing upon existing architectural design theory, this paper investigates the relationship between design elements regards to public’s behavioural response to the public space. The aims of this paper are two-fold: first to examine whether there is a direct relationship between the two, and second to find out how the design elements could be coordinated together to influence not only the activities but also the environment, function and experience. To meet this objective, observation, behavioural mapping, interview and cognitive mapping methodologies are used. The present study involves two local case studies to find out the relationship between design elements in order to assist the design of a better public space for public activities. Correlation between the design elements shows that public activities is more likely to happen in relatively space with well balance of design. These finding provide a better understanding of public space design by gaining deeper perceptive between design and user’s behaviour, consequently improving social activities and interactions in public space. Moreover, it focuses on campus public areas which can be a vital aspect of university campus and play a valuable role in the overall success of public space design.

Life on the edge : the effects of building facade three dimensionality on public social behaviour

Links between the built environment and human behaviour have long been of interest to those involved in the fields of urban planning and architecture, but direct assessments of the links between the three-dimensional building façade form and human behaviour are rare. Much work has been completed on subjects’ responses to the aesthetic of architectural frontages but this has generally been conducted using two-dimensional images of structures and in no way assesses human responses when in the presence of these structures. This research has set about observing the behaviour of individuals and groups in the public realm and recording their reactions to architecture which has a distinct three-dimensional character, with particular reference to the street level façade. The behaviour was recorded and quantified and indicated that there is significant differences in human behaviour around these various types of architecture.

An objective measure of reactive behaviour in horses

Several tests have been devised in an attempt to detect behaviour modification due to training, supplements or diet in horses. These tests rely on subjective observations in combination with physiological measures, such as heart rate (HR) and plasma cortisol concentrations, but these measures do not definitively identify behavioural changes. The aim of the present studies was to develop an objective and relevant measure of horse reactivity. In Study 1, HR responses to auditory stimuli, delivered over 6 days, designed to safely startle six geldings confined to individual stalls was studied to determine if peak HR, unconfounded by physical exertion, was a reliable measure of reactivity. Both mean (±SEM) resting HR (39.5 ± 1.9 bpm) and peak HR (82 ± 5.5 bpm) in response to being startled in all horses were found to be consistent over the 6 days. In Study 2, HR, plasma cortisol concentrations and speed of departure from an enclosure (reaction speed (RS)) in response to a single stimulus of six mares were measured when presented daily over 6 days. Peak HR response (133 ± 4 bpm) was consistent over days for all horses, but RS increased (3.02 ± 0.72 m/s on Day 1 increasing to 4.45 ± 0.53 m/s on Day 6; P = 0.005). There was no effect on plasma cortisol, so this variable was not studied further. In Study 3, using the six geldings from Study 1, the RS test was refined and a different startle stimulus was used each day. Again, there was no change in peak HR (97.2 ± 5.8 bpm) or RS (2.9 ± 0.2 m/s on Day 1 versus 3.0 ± 0.7 m/s on Day 6) over time. In the final study, mild sedation using acepromazine maleate (0.04 mg/kg BW i.v.) decreased peak HR in response to a startle stimulus when the horses (n = 8) were confined to a stall (P = 0.006), but not in an outdoor environment when the RS test was performed. However, RS was reduced by the mild sedation (P = 0.02). In conclusion, RS may be used as a practical and objective test to measure both reactivity and changes in reactivity in horses.

Experimental studies of the shear behaviour and strength of lipped channel beams with web openings

Cold-formed steel members are increasingly used as primary structural elements in the building industries around the world due to the availability of thin and high strength steels and advanced cold-forming technologies. Cold-formed lipped channel beams (LCB) are commonly used as flexural members such as floor joists and bearers. However, their shear capacities are determined based on conservative design rules. Current practice in flooring systems is to include openings in the web element of floor joists or bearers so that building services can be located within them. Shear behaviour of LCBs with web openings is more complicated while their shear strengths are considerably reduced by the presence of web openings. However, limited research has been undertaken on the shear behaviour and strength of LCBs with web openings. Hence a detailed experimental study involving 40 shear tests was undertaken to investigate the shear behaviour and strength of LCBs with web openings. Simply supported test specimens of LCBs with aspect ratios of 1.0 and 1.5 were loaded at midspan until failure. This paper presents the details of this experimental study and the results of their shear capacities and behavioural characteristics. Experimental results showed that the current design rules in cold-formed steel structures design codes are very conservative for the shear design of LCBs with web openings. Improved design equations have been proposed for the shear strength of LCBs with web openings based on the experimental results from this study.