Incremental institutional change and Australian universities

Much has been written and researched about transformational change and the exogenous events that result in radical institutional transformation. This paper examines institutions as building blocks of social order comprising power and politics and shared understanding to bring about change. Thelen and Mahoney (2010) go beyond a general model of change that describes the collapse of one set of institutional norms to be replaced by another. The model of change proposed takes into account both exogenous as well as endogenous factors as being the source of institutional change. They go on to state that a view of transformation change as being a result of abrupt, wholesale breakdown needs to be rethought to include incremental, endogenous shifts in thinking that can often result in fundamental transformations. This paper gives consideration to these issues to propose the Australian Higher Education sector as a unique sample in which to investigate this type of change.

Data mining techniques for the assessment of factors contributing to the damage of residential houses in Australia

This paper reports on the preparation and management processes of inconsistent data on damage on residential houses in Victoria, Australia. There are no existing specific and fully relevant databases readily available except for the incomplete paper-based and electronic-based reports. Therefore, the extracting of information from the reports is complicated and time consuming in order to extract and include all the necessary information needed for analysis of damage on residential houses founded on expansive soils. Data mining is adopted to develop a database. Statistical methods and Artificial Intelligence methods are used to quantify the quality of data. The paper concludes that the development of such database could enable BHC to evaluate the usefulness of the reports prepared on the reported damage properties for further analysis.

An examination of Australian gold mining firms' exposure over the collapse of gold price in the late 1990s

Purpose – The purpose of this study is to examine the exposures of Australian gold mining firms in the highly volatile period from 1995 to 2000. This period has been characterized by significant changes in gold price due to bulk sale of gold by collective central banks. Specifically, the paper aims to investigate several firm-specific factors that are hypothesized to carry substantial influence on gold beta.

Design/methodology/approach – To estimate gold beta, we use the following multifactor model: R_g,_t = a+ß_gGPR_t + ß_xFXR_t + ß_mR_m,_t + _Et , where R_g,_t is the return on the gold stock Index at time t, GPR_t is the gold price return denominated in US dollar at time t, FXR_t is the foreign exchange return of Australian dollar in terms of US dollar at time t, R_m,t is the market return at time t, and _Et is the random error term at time t.

Findings – The paper finds that the values of gold beta are consistently greater than one, implying the sensitive nature of firms’ stock returns to gold price changes. This also suggests that investors holding gold mining stock would receive higher percentage increases in stock returns from a percentage increase in gold price returns, as opposed to investors holding gold bullion. Furthermore, these values have changed substantially over time with significant changes in gold price volatility. The most important and consistent relationship that we find is the impact of firms’ hedging behavior on their respective gold betas. This is consistent with Tufano’s study. It implies that firms, which hedge a greater proportion of their gold reserves, are less sensitive to movements in gold prices. The finding therefore supports the risk management theory that hedging increases shareholder’s wealth. However, cash operating costs, cash reserves and the level of gold production seem to influence very little on the firms’ exposure to gold price changes.

Originality/value – This study is of interest and important to the stock mining companies and investors because the extent of the effect of gold price movements on the stock returns of gold mining companies has significant impacts on returns for both firms and investors especially in their risk management and investment decisions, respectively.

Fast mining of non-derivable episode rules in complex sequences

Researchers have been endeavoring to discover concise sets of episode rules instead of complete sets in sequences. Existing approaches, however, are not able to process complex sequences and can not guarantee the accuracy of resulting sets due to the violation of anti-monotonicity of the frequency metric. In some real applications, episode rules need to be extracted from complex sequences in which multiple items may appear in a time slot. This paper investigates the discovery of concise episode rules in complex sequences. We define a concise representation called non-derivable episode rules and formularize the mining problem. Adopting a novel anti-monotonic frequency metric, we then develop a fast approach to discover non-derivable episode rules in complex sequences. Experimental results demonstrate that the utility of the proposed approach substantially reduces the number of rules and achieves fast processing.

Improving reliability of unbalanced text mining by reducing performance bias

Class imbalance in textual data is one important factor that affects the reliability of text mining. For imbalanced textual data, conventional classifiers tend to have a strong performance bias, which results in high accuracy rate on the majority class but very low rate on the minorities. An extreme strategy for unbalanced learning is to discard the majority instances and apply one-class classification to the minority class. However, this could easily cause another type of bias, which increases the accuracy rate on minorities by sacrificing the majorities. This chapter aims to investigate approaches that reduce these two types of performance bias and improve the reliability of discovered classification rules. Experimental results show that the inexact field learning method and parameter optimized one class classifiers achieve more balanced performance than the standard approaches.

Semantic trajectory based event detection and event pattern mining

Video event detection is an effective way to automatically understand the semantic content of the video. However, due to the mismatch between low-level visual features and high-level semantics, the research of video event detection encounters a number of challenges, such as how to extract the suitable information from video, how to represent the event, how to build up reasoning mechanism to infer the event according to video information. In this paper, we propose a novel event detection method. The method detects the video event based on the semantic trajectory, which is a high-level semantic description of the moving object’s trajectory in the video. The proposed method consists of three phases to transform low-level visual features to middle-level raw trajectory information and then to high-level semantic trajectory information. Event reasoning is then carried out with the assistance of semantic trajectory information and background knowledge. Additionally, to release the users’ burden in manual event definition, a method is further proposed to automatically discover the event-related semantic trajectory pattern from the sample semantic trajectories. Furthermore, in order to effectively use the discovered semantic trajectory patterns, the associative classification-based event detection framework is adopted to discover the possibly occurred event. Empirical studies show our methods can effectively and efficiently detect video events.

On the incremental learning and recognition of the pattern of movement of multiple labelled objects in dynamic scenes

In this paper we discuss combining incremental learning and incremental recognition to classify patterns consisting of multiple objects, each represented by multiple spatio-temporal features. Importantly the technique allows for ambiguity in terms of the positions of the start and finish of the pattern. This involves a progressive classification which considers the data at each time instance in the query and thus provides a probable answer before all the query information becomes available. We present two methods that combine incremental learning and incremental recognition: a time instance method and an overall best match method.

Infrequent item mining in multiple data streams

The problem of extracting infrequent patterns from streams and building associations between these patterns is becoming increasingly relevant today as many events of interest such as attacks in network data or unusual stories in news data occur rarely. The complexity of the problem is compounded when a system is required to deal with data from multiple streams. To address these problems, we present a framework that combines the time based association mining with a pyramidal structure that allows a rolling analysis of the stream and maintains a synopsis of the data without requiring increasing memory resources. We apply the algorithms and show the usefulness of the techniques. © 2007 Crown Copyright.

A multi-agent incremental negotiation scheme for meetings scheduling

We present an agent-oriented approach to the meeting scheduling problem and propose an incremental negotiation scheme that makes use of a hierarchical structure of an individual agent's working knowledge. First, we formalise the meeting scheduling problem in a multi-agent context, then elaborate on the design of a common agent architecture of all agents in the system. As a result, each agent becomes a modularised computing unit yet possesses high autonomy and robust interface with other agents. The system reserves the meeting participants' privacy since there are no agents with dominant roles, and agents can communicate at an abstract level in their hierarchical structures

Face recognition via incremental 2DPCA

Recently, the Two-Dimensional Principal Component Analysis (2DPCA) model is proposed and proved to be an efficient approach for face recognition. In this paper, we will investigate the incremental 2DPCA and develop a new constructive method for incrementally adding observation to the existing eigen-space model. An explicit formula for incremental learning is derived. In order to illustrate the effectiveness of the proposed approach, we performed some typical experiments and show that we can only keep the eigen-space of previous images and discard the raw images in the face recognition process. Furthermore, this proposed incremental approach is faster when compared to the batch method (2DPCD) and the recognition rate and reconstruction accuracy are as good as those obtained by the batch method.