The responsiveness of LPT returns and their attributes

The Australian listed property sector has experienced substantial growth over the past decade. Relative to international property markets, Australia has the highest percentage of listed real estate and the highest proportion that makes up the total equity market in the world, hence, making it an important component of domestic financial markets. This study employs the Stone (1974) two factor asset pricing model to investigate the sensitivity of Listed Property Trust (LPT) returns to market and interest rate returns from 2000 to 2005, and the characteristics (namely, management structure, specialisation and the degree of financial leverage) that may be driving these sensitivities. Our results indicate an increase in the market risk profile of LPTs, suggesting an erosion of the defensive benefits of LPTs against stockmarket volatilities.

Effect of cage colour and light environment on the skin colour of Australian Snapper Pagrus auratus (Bloch & Schneider, 1801)

A two-factor experiment was performed to evaluate the effects of cage colour (black or white 0.5 m³ experiment cages) and light environment (natural sunlight or reduced level of natural sunlight) on the skin colour of darkened Australian snapper. Each treatment was replicated four times and each replicate cage was stocked with five snapper (mean weight=351 g). Snapper exposed to natural sunlight were held in experimental cages located in outdoor tanks. An approximately 70% reduction in natural sunlight (measured as PAR) was established by holding snapper in experimental cages that were housed inside a 'shade-house' enclosure. The skin colour of anaesthetized fish was measured at stocking and after a 2-, 7- and 14-day exposure using a digital chroma-meter (Minolta CR-10) that quantified skin colour according to the L*a*b* colour space. At the conclusion of the experiment, fish were killed in salt water ice slurry and post-mortem skin colour was quantified after 0.75, 6 and 22 h respectively. In addition to these trials, an ad hoc market appraisal of chilled snapper (mean weight=409 g) that had been held in either white or in black cages was conducted at two local fish markets. Irrespective of the sampling time, skin lightness (L*) was significantly affected by cage colour (P<0.05), with fish in white cages having much higher L* values (L*≈64) than fish held in black cages (L*≈49). However, the value of L* was not significantly affected by the light environment or the interaction between cage colour and the light environment. In general, the L* values of anaesthetized snapper were sustained post mortem, but there were linear reductions in the a* (red) and b* (yellow) skin colour values of chilled snapper over time. According to the commercial buyers interviewed, chilled snapper that had been reared for a short period of time in white cages could demand a premium of 10–50% above the prices paid for similar-sized snapper reared in black cages. Our results demonstrate that short-term use of white cages can reduce the dark skin colour of farmed snapper, potentially improving the profitability of snapper farming.

Development of a diversity openness climate organizational measure

Although research on the diversity climate of organizations is said to be imperative for researchers and practitioners, parsimonious attempt has been made to develop its measurement items. This paper describes the development of diversity openness climate organizational measures (DOCOM). The development process involved multi-faceted input of 104 diversity stakeholders across 3 Australian states, across five industries including both private and public sectors. Final results of the Q-sort methodology produced a stable two-factor structure comprised of 21 items. Factor 1 reflected the "diversity open situation of the organization" and Factor 2 reflected "on-going recognition and support for minority members". Construct validity study included data from 15 multinational organizations. Overall, results suggest that the diversity openness climate of organizational measures (DOCOM) is a valid measure that should prove useful in the field of workforce diversity.

The effects of clustered data on standard error estimates in covariance structure analysis : a field data application

Purpose – The purpose of this article is to present an empirical analysis of complex sample data with regard to the biasing effect of non-independence of observations on standard error parameter estimates. Using field data structured in the form of repeated measurements it is to be shown, in a two-factor confirmatory factor analysis model, how the bias in SE can be derived when the non-independence is ignored.

Design/methodology/approach – Three estimation procedures are compared: normal asymptotic theory (maximum likelihood); non-parametric standard error estimation (naïve bootstrap); and sandwich (robust covariance matrix) estimation (pseudo-maximum likelihood).

Findings – The study reveals that, when using either normal asymptotic theory or non-parametric standard error estimation, the SE bias produced by the non-independence of observations can be noteworthy.

Research limitations/implications – Considering the methodological constraints in employing field data, the three analyses examined must be interpreted independently and as a result taxonomic generalisations are limited. However, the study still provides “case study” evidence suggesting the existence of the relationship between non-independence of observations and standard error bias estimates.

Originality/value – Given the increasing popularity of structural equation models in the social sciences and in particular in the marketing discipline, the paper provides a theoretical and practical insight into how to treat repeated measures and clustered data in general, adding to previous methodological research. Some conclusions and suggestions for researchers who make use of partial least squares modelling are also drawn.

Cage colour and post-harvest K+ concentration affect skin colour of Australian snapper Pagrus auratus (Bloch & Schneider, 1801)

In an attempt to improve post-harvest skin colour in cultured Australian snapper Pagrus auratus, a two-factor experiment was carried out to investigate the effects of a short-term change in cage colour before harvest, followed by immersion in K⁺-enriched solutions of different concentrations. Snapper supplemented with 39 mg unesterified astaxanthin kg⁻¹ for 50 days were transferred to black (for 1 day) or white cages (for 1 or 7 days) before euthanasia by immersing fish in seawater ice slurries supplemented with 0, 150, 300, 450 or 600 mmol L⁻¹ K⁺ for 1 h. Each treatment was replicated with five snapper (mean weight=838 g) held individually within 0.2 m³ cages. L*, a* and b* skin colour values of all fish were measured after removal from K⁺ solutions at 0, 3, 6, 12, 24 and 48 h. After immersion in K⁺ solutions, fish were stored on ice. Both cage colour and K⁺ concentration significantly affected post-harvest skin colour (P<0.05), and there was no interaction between these factors at any of the measurement times (P>0.05). Conditioning dark-coloured snapper in white surroundings for 1 day was sufficient to significantly improve skin lightness (L*) after death. Although there was no difference between skin lightness values for fish held for either 1 or 7 days in white cages at measurement times up to 12 h, fish held in white cages for 7 days had significantly higher L* values (i.e. they were lighter) after 24 and 48 h of storage on ice than those held only in white cages for 1 day. K⁺ treatment also affected (improved) skin lightness post harvest although not until 24 and 48 h after removal of fish from solutions. Before this time, K⁺ treatment had no effect on skin lightness. Snapper killed by seawater ice slurry darkened (lower L*) markedly during the first 3 h of storage in contrast with all K⁺ treatments that prevented darkening. After 24 and 48 h of storage on ice, fish exposed to 450 and 600 mmol L⁻¹ K⁺ were significantly lighter than fish from seawater ice slurries. In addition, skin redness (a*) and yellowness (b*) were strongly dependent on K⁺ concentration. The initial decline in response to K⁺ was overcome by a return of a* and b* values with time, most likely instigated by a redispersal of erythrosomes in skin erythrophores. Fish killed with 0 mmol L⁻¹ K⁺ maintained the highest a* and b* values after death, but were associated with darker (lower L*) skin colouration. It is concluded that a combination of conditioning snapper in white surroundings for 1 day before harvest, followed by immersion in seawater ice slurries supplemented with 300–450 mmol L⁻¹ K⁺ improves skin pigmentation after >24 h of storage on ice.

Structural equation modelling of complex sample survey : an application to brand signalling data

The purpose of this paper is to present an empirical analysis of complex sample data with regard to the biasing effect of nonindependence of observations on standard error parameter estimates. In a two-factor confirmatory factor analysis model, using real data, we show how the bias in standard errors can be derived when the nonindependence is ignored. We demonstrate that the standard error bias produced by the nonindependence of observations can be considerable and we briefly discuss solutions to overcome the problem.

Changes in skin colour and cortisol response of Australian snapper Pagrus auratus (Bloch & Schneider, 1801) to different background colours

A two-factor experiment was carried out to investigate the change in skin colour and plasma cortisol response of cultured Australian snapper Pagrus auratus to a change in background colour. Snapper (mean weight=437 g) were held in black or white tanks and fed diets containing 39 mg unesterified astaxanthin kg⁻¹ for 49 days before being transferred from white tanks to black cages (WB) or black tanks to white cages (BW). Skin colour values [L^* (lightness), a^* (redness) and b^* (yellowness)] of all snapper were measured at stocking (t=0 days) and from cages of fish randomly assigned to each sampling time at 0.25, 0.5, 1, 2, 3, 5 and 7 days. Plasma cortisol was measured in anaesthetized snapper following colour measurements at 0, 1 and 7 days. Fish from additional black-to-black (BB) and white-to-white (WW) control treatments were also sampled for colour and cortisol at those times. Rapid changes occurred in skin lightness (L^* values) after altering background colour with maximum change in L^* values for BW and WB treatments occurring within 1 day. Skin redness (a*) of BW snapper continued to steadily decrease over the 7 days (a*=7.93 × e^{−0.051 × time}). Plasma cortisol concentrations were highest at stocking when fish were held at greater densities and were not affected by cage colour. The results of this study suggest that transferring dark coloured snapper to white cages for 1 day is sufficient to affect the greatest benefit in terms of producing light coloured fish while minimizing the reduction in favourable red skin colouration.

The validity and internal structure of the bipolar depression rating scale (BDRS): data from a clinical trial of N-acetylcysteine as adjunctive therapy in bipolar disorder

Background: The phenomenology of unipolar and bipolar disorders differ in a number of ways, such as the presence of mixed states and atypical features. Conventional depression rating instruments are designed to capture the characteristics of unipolar depression and have limitations in capturing the breadth of bipolar disorder.

Method: The Bipolar Depression Rating Scale (BDRS) was administered together with the Montgomery Asberg Rating Scale (MADRS) and Young Mania Rating Scale (YMRS) in a double-blind randomised placebo-controlled clinical trial of N-acetyl cysteine for bipolar disorder (N = 75).

Results: A factor analysis showed a two-factor solution: depression and mixed symptom clusters. The BDRS has strong internal consistency (Cronbach's alpha = 0.917), the depression cluster showed robust correlation with the MADRS (r = 0.865) and the mixed subscale correlated with the YMRS (r = 0.750).

Conclusion: The BDRS has good internal validity and inter-rater reliability and is sensitive to change in the context of a clinical trial.

The role of personal values in enhancing student experience and satisfaction among international postgraduate students : an exploratory study

Problem Statement: Universities are faced with the challenging task of educating an increasingly diverse and mobile student community. An understanding of the backgrounds of students and their expectations is central to ensure effective delivery of educational and support services to enhance student experience and satisfaction. The study of student personal values is able to provide better understanding of student demands and aspirations and to assist universities to target educational and support services to meet the differential needs of students.

Purpose of Study: To examine the differences in personal values among Asian international postgraduate students studying in Australian universities and to discuss the strategic implications of these differences in relation to enhancing student experience and satisfaction.

Research Methods: Data collected from a sample of 371 postgraduate students from China, India, Indonesia and Thailand studying in five universities in Victoria, Australia. Personal values were measured using Kahle’s (1983) List Of Values (LOV). Factor analysis was undertaken to determine the underlying personal value domains and Structural Equation Modelling (SEM) to analyse the relationship of the value constructs to student satisfaction. ANOVA and MANOVA tests employed to examine the differences of personal values between the nationalities, gender and age.

Findings: Factor Analysis resulted in a two factor solution and labelled as Self-efficacy and Hedonism which explained 73.5 percent of the variance. MANOVA and ANOVA results indicated significant differences (.001) across the values constructs of Self-efficacy and Hedonism and the individual variables between nationalities, gender and age.

SEM results indicated a link between student satisfaction and the value domains of Self-efficacy and Hedonism.

Conclusions: The study highlighed the opportunities for universities to recognise that Asia is a differentiated market place and the development of segmented approach in designing educational programs as part of the strategy to enhance student experience and satisfaction. The inclusion of cultural aspects in educational programs, promotional material that fits in with different cultural backgrounds of students, self-paced learning approaches, promotion of cross cultural understanding among university staff are among the recommended strategies.

Latent structure of mentoring function scales

The latent structure of a 16-item mentoring function instrument was analyzed with the responses of 568 full-time employees. Features of the analyses included (a) assessment of the items' distributional properties (i.e., skewness and kurtosis); (b) assessment of the factor structure using the Satorra-Bentler scaled test statistic; and (c) evaluation of the instrument's invariance across sex. Confirmatory factor analyses using the scaled chi-square supported a two-factor oblique model that consisted of psychosocial and career-related mentoring functions. The invariance tests suggested that the structure was invariant across sex groups.

Further investigation of the psychometric properties of the Insulin Treatment Appraisal Scale among insulin-using and non-insulin-using adults with type 2 diabetes : results from Diabetes MILES-Australia

Negative attitudes towards insulin are commonly reported by people with type 2 diabetes mellitus (T2DM) and can act as a barrier to timely insulin initiation. The Insulin Treatment Appraisal Scale (ITAS) is a widely used 20-item measure of attitudes towards insulin. While designed for completion by both insulin using and non-insulin using adults with T2DM, its psychometric properties have not been investigated separately for these groups. Furthermore, the total score is routinely reported in preference to the published two-factor structure (negative/positive appraisals). Further psychometric validation of the ITAS is required to examine its properties.

Effect of genotype and sex on fiber growth rate of alpacas for their first year of fleece production

The sale of alpaca fiber is the main income for thousands of families in the Central Andes of Peru. Little information exists on the fiber length growth rate of alpaca (FLG), especially throughout their first year of life when the fiber is most valuable. We aimed to determine the monthly FLG of 22 alpaca offspring of two genotypes (9 Suri, 13 Huacaya) and considering sex differences (10 females, 12 males) in the High Andes of Peru. FLG growth was determined using dye-bands. An additive lineal model with three factors (genotype, sex, month) was used for statistic analysis. To evaluate the effect of genotype and sex on the profile of the FLG throughout the year a two factor repeated-measures model was used. The results showed that FLG was affected by genotype and month but not sex. The Suri genotype had 20% higher FLG than Huacaya genotype alpacas (1.34 vs 1.10 cm/month, P < 0.001). FLG increased over each of the first three months (P < 0.05) and then maintained a near constant rate for the remainder of the first year. The resulting staple length indicates that shearing at ages from 8 to 12 months of age will provide fleeces of sufficient length for textile processing.

The construct validity of the work-related flow inventory in a sample of Australian workers

The purpose of this study was to examine the construct validity of the WOrk-reLated Flow inventory (WOLF; Bakker, 2008). This instrument was administered to 711 men and women who were working in Queensland, Australia. The results from the confirmatory factor analysis showed that the WOLF has moderately acceptable construct validity, with the three-factor model being a borderline fit to the data. Tests of the convergent validity of the WOLF yielded satisfactory results. However, the analysis of the discriminant validity of the WOLF showed that the instrument poorly discriminated between work enjoyment and intrinsic work motivation. Follow-up exploratory factor analysis, using recommended procedures for determining the number of factors to extract, revealed a two-factor solution, with the work enjoyment and intrinsic work motivation items loading on the same factor. Drawing on literature on psychological flow and motivation, as well as the findings of the present study, questions are raised over the adequacy of the conceptual basis of the three-factor model of work-related flow, the discriminant validity of the WOLF subscales, and the appropriateness of the wording of several of this measure's items. Using alternative methods and measures to investigate flow in work settings is recommended.

Cancer Treatment Survey (CaTS): development and validation of a new instrument to measure patients' preparation for chemotherapy and radiotherapy

Objective: Cancer patients experience high levels of pre-treatment anxiety. Chemotherapy and radiotherapy are threatening medical procedures. Preparation for these procedures should include the provision of sensory and procedural information, and addressing fears. The aim of this study was to develop a cancer treatment survey (CaTS) to assess the preparation for chemotherapy and radiotherapy in cancer patients.

Methods: Drawing on evidence for how to prepare patients for threatening procedures, items were generated by psychosocial/clinical experts and pilot tested with cancer patients. The 36-item draft CaTS was administered to 192 cancer patients commencing chemotherapy for lymphoma, breast or colon cancer. Participants also completed the Hospital Anxiety and Depression Scale (HADS) and basic medical and demographic information was recorded.

Results: A systematic process of item selection removed 11 items. Factor analysis indicated a two-factor solution, with 11 items representing sensory/psychological concerns and 14 items representing procedural concerns. The two subscales demonstrated excellent internal reliability with Cronbach's alpha both over 0.90 and the average inter-item correlation for each scale exceeded 0.30. Divergent validity was established for both CaTS subscales with the HADS-A and-T (all r<0.30). Younger participants (under 65 years of age) had significantly greater procedural concerns (p = 0.001; medium effect).

Conclusions: The CaTS is a two factor, 25-item measure that assesses sensory/psychological concerns and procedural concerns relating to cancer treatment. The instrument provides a reliable and valid outcome measure for interventions to prepare cancer patients for chemotherapy and radiotherapy.

Validation of the Italian version of the Yale-Brown Obsessive Compulsive Scale-Second Edition (Y-BOCS-II) in a clinical sample

OBJECTIVE: The Yale-Brown Obsessive Compulsive Scale (Y-BOCS) is the most widely accepted measure of obsessive-compulsive disorder (OCD) symptom severity. Recently, the scale has been revised into a second edition (Y-BOCS-II) in order to improve its measurement properties. The present study aimed to evaluate the psychometric properties of the Italian version of the Y-BOCS-II Severity Scale (SS) in a large clinical sample. METHOD: The original version of the Y-BOCS-II was translated into Italian, which involved forward and back-translation procedures. The Italian Y-BOCS-II-SS was administered to one hundred twenty-five treatment-seeking adults with OCD, together with the original Y-BOCS-SS and a battery of self-report measures assessing OCD symptom severity and depressive and anxious symptomology. The factor structure, internal consistency, temporal stability, and construct validity were investigated on the whole sample, while inter-rater and test-retest reliability were assessed on a subsample of participants. RESULTS: Factor analyses revealed a two-factor structure different from those of the original scale, comprising (1) symptom severity; and (2) interference from symptoms. Internal consistency, test-retest reliability over a 2-week period and inter-rater reliability were satisfactory. The Y-BOCS-II-SS also showed excellent construct validity (and better than the Y-BOCS-SS), with good convergent and discriminant validity when assessed against other OCD symptom measures and measures of depression, anxiety and worry. CONCLUSIONS: These findings suggest that the Italian version of the Y-BOCS-II-SS retains the adequate psychometric properties of the original and that it can be confidently used as an assessment tool of OCD symptoms in both clinical and research settings.