An assessment of development funding for new housing post GFC in Queensland, Australia

Purpose: The purpose of this paper is to identify changes in bank lending criteria due to the GFC and to explore the associated impacts on new housing supply in Queensland, Australia. Design/methodology/approach: This research involves a survey of each of Australia’s big four banks, as well as two prominent arrangers of development finance. Data on key lending criteria was collected: Pre GFC, during the GFC, and GFC recovery stage. Findings: The GFC has resulted in a retraction of funds available for residential development. The few institutions lending are filtering out only the best credit risks by way of constrictive loan covenants including: low loan to value ratios, high cash equity requirements, regional “no go” zones, and demonstrated borrower track record. The ability of developers to proceed with new housing developments is being constrained by their inability to obtain sufficient finance. Research limitations/implications: This research uses survey data, together with an understanding of the project finance process to extrapolate impacts on the residential development industry across Queensland. No regional or sub-market analysis is included. Future research will include subsequent surveys to track any loosening of credit policies over time and sub-market sector analysis. Practical implications: The inability to obtain project finance is identified as a key constraint to new housing supply. This research will inform policy makers and provide important quantitative evidence of the importance of availability of development finance in the housing supply chain. Social implications: Queensland is facing a supply shortfall, which if not corrected, may lead to upward pressure on house prices and falling housing affordability. Originality/value: There is very little academic research on development funding. This research is unique in linking bank lending criteria to new housing supply and demonstrating the impact on the development industry.

An accessible method for teaching doctors about death certification

The World Health Organization recommends that data on mortality in its member countries are collected utilising the Medical Certificate of Cause of Death published in the instruction volume of the ICD-10. However, investment in health information processes necessary to promote the use of this certificate and improve mortality information is lacking in many countries. An appeal for support to make improvements has been launched through the Health Metrics Network’s MOVE-IT strategy (Monitoring of Vital Events – Information Technology) [World Health Organization, 2011]. Despite this international spotlight on the need for capture of mortality data and in the use of the ICD-10 to code the data reported on such certificates, there is little cohesion in the way that certifiers of deaths receive instruction in how to complete the death certificate, which is the main source document for mortality statistics. Complete and accurate documentation of the immediate, underlying and contributory causes of death of the decedent on the death certificate is a requirement to produce standardised statistical information and to the ability to produce cause-specific mortality statistics that can be compared between populations and across time. This paper reports on a research project conducted to determine the efficacy and accessibility of the certification module of the WHO’s newly-developed web based training tool for coders and certifiers of deaths. Involving a population of medical students from the Fiji School of Medicine and a pre and post research design, the study entailed completion of death certificates based on vignettes before and after access to the training tool. The ability of the participants to complete the death certificates and analysis of the completeness and specificity of the ICD-10 coding of the reported causes of death were used to measure the effect of the students’ learning from the training tool. The quality of death certificate completion was assessed using a Quality Index before and after the participants accessed the training tool. In addition, the views of the participants about accessibility and use of the training tool were elicited using a supplementary questionnaire. The results of the study demonstrated improvement in the ability of the participants to complete death certificates completely and accurately according to best practice. The training tool was viewed very positively and its implementation in the curriculum for medical students was encouraged. Participants also recommended that interactive discussions to examine the certification exercises would be an advantage.

Rethinking regulatory design : The Australian National Classification Scheme review

This paper considers issues of methodological innovation in communication, media and cultural studies, that arise out of the extent to which we now live in a media environment characterised by an digital media abundance, the convergence of media platforms, content and services, and the globalisation of media content through ubiquitous computing and high-speed broadband networks. These developments have also entailed a shift in the producer-consumer relationships that characterised the 20th century mass communications paradigm, with the rapid proliferation of user-created content, accelerated innovation, the growing empowerment of media users themselves, and the blurring of distinctions between public and private, as well as age-based distinctions in terms of what media can be accessed by whom and for what purpose. It considers these issues through a case study of the Australian Law Reform Commission's National Classification Scheme Review.

The validation of the rating for subdivision neighbourhood sustainability design (RSNSD) In Bangkok Metropolitan Region (BMR), Thailand

In recent years, the problems resulting from unsustainable subdivision development have become significant problems in the Bangkok Metropolitan Region (BMR), Thailand. Numbers of government departments and agencies have tried to eliminate the problems by introducing the rating tools to encourage the higher sustainability levels of subdivision development in BMR, such as the Environmental Impact Assessment Monitoring Award (EIA-MA) and the Thai’s Rating for Energy and Environmental Sustainability of New construction and major renovation (TREES-NC). However, the EIA-MA has included the neighbourhood designs in the assessment criteria, but this requirement applies to large projects only. Meanwhile, TREES-NC has focused only on large scale buildings such as condominiums, office buildings, and is not specific for subdivision neighbourhood designs. Recently, the new rating tool named “Rating for Subdivision Neighbourhood Sustainability Design (RSNSD)” has been developed. Therefore, the validation process of RSNSD is still required. This paper aims to validate the new rating tool for subdivision neighbourhood design in BMR. The RSNSD has been validated by applying the rating tool to eight case study subdivisions. The result of RSNSD by data generated through surveying subdivisions will be compared to the existing results from the EIA-MA. The selected cases include of one “Excellent Award”, two “Very Good Award”, and five non-rated subdivision developments. This paper expects to prove the credibility of RSNSD before introducing to the real subdivision development practises. The RSNSD could be useful to encourage higher sustainability subdivision design level, and then protect the problems from further subdivision development in BMR.

Managing financial implications for sustainable highway infrastructure delivery

Highway construction works have significant bearings on all aspects of sustainability. As they typically involve huge capital funds, stakeholders tend to place all interests on the financial justifications of the project, especially when embedding sustainability principles and practices may demand significant initial investment. Increasing public awareness and government policies demand that infrastructure projects respond to environmental challenges and people start to realise the negative consequences of not to pursue sustainability. Stakeholders are now keen to identify sustainable alternatives and financial implications of including them on a whole lifecycle basis. Therefore tools that aid the evaluation of investment options, such as provision of environmentally sustainable features in roads and highways, are highly desirable. Life-cycle cost analysis (LCCA) is generally recognised as a valuable approach for investment decision making for construction works. However to date it has limited application because the current LCCA models tend to focus on economic issues alone and are not able to deal with sustainability factors. This paper reports a research on identifying sustainability related factors in highway construction projects, in quantitative and qualitative forms of a multi-criteria analysis. These factors are then incorporated into existing LCCA models to produce a new sustainability based LCCA model with cost elements specific to sustainability measures. This presents highway project stakeholders a practical tool to evaluate investment decisions and reach an optimum balance between financial viability and sustainability deliverables.

Chongqing International Circus City

The design grows out of the rich culture of circus and the rugged dynamic topography of Chongqing. The site for this project is nestled on the banks of the mighty Yangzte, China's longest river: a vast sweeping watery ribbon carving its way through the mountainous terrain. This swirling sinuous environmental thread replicates in nature the tweisting ribbons circling the gyrating circus gymnast. The project grows from intertwining these swirling parallel conceptions of 'ribbon'. A multi-layered envelope of glass and steel ribbons creates a dome like enclosure that wraps itself around the dynamic performing heart of the circus. The main auditorium and stage area are accommodated in this space. Key public elements and facilities are located adjacent to the new riverfront boulevard maximising the positive relationship with this attractive landscape zone. Service and support areas are located along the southern boundary. Key Statistics; Client: Chongqing Broadcast Bureau Developer: Chongqing Real Estate Site: 3.3 Ha Development: Total G.F.A.: 36,800m2 Project Cost: Total Investment: RMB 300 Million (A$48 million) Other competition participants were BIG-Bjarke Ingels Group (Denmark)/arquitectonica (USA)/Beijing Architectural Design Institute/East China Architectural Design Institute/China Architectural Design Academy.

The impact of infrastructure charges on new housing costs : an international comparison

Sourcing funding for the provision of new urban infrastructure has been a policy dilemma for governments around the world for decades. This is particularly relevant in high growth areas where new services are required to support swelling populations. Existing communities resist the introduction of new taxes to fund such infrastructure, hence the introduction of charges to the developer has flourished. The Australian infrastructure funding policy dilemmas are reflective of similar matters to some extent in the United Kingdom, and to a greater extent the United States of America. In these countries, infrastructure cost recovery policies have been in place since the 1940’s and 1970’s respectively. There is an extensive body of theoretical and empirical literature that discusses the passing on (to home buyers) or passing back (to the englobo land seller) of these increased infrastructure charges, and the corresponding impact on housing cost and supply. The purpose of this research is to examine the international evidence that suggests infrastructure charges contribute to increased house prices as well as reduced land supply. The paper concludes that whilst the theoretical work is largely consistent, the empirical research to date is inconclusive and further research is required into these impacts in Australia.

Land buyers likely to foot reform costs

Article in Courier Mail. Friday July 22, 2011.

Have sustainability declarations impacted home buyer patterns?

The Queensland University of Technology recently surveyed REIQ members to determine what impact the sustainability declaration has had on home buyer decision-making in its first year of operation.

Marketing charitable bequests to lawyers

There is scant literature about the role of the lawyer in influencing the likelihood of a charitable bequest being made in a will. Charities regularly advertise in legal journals and supply bequest materials to lawyers, but the effectiveness of these strategies for influencing lawyers appears not to have been measured in the literature or in practice. Our exploratory research indicates that specialist estate lawyers report that they pay little or no attention to traditional marketing of charitable bequests to them and that lawyers’ specific information needs from charities about bequests are not being satisfied appropriately. Our study reveals that lawyers do seek information from charities in order to write a will’s bequest clause, once a bequest has been considered by the client. Lawyers indicated frustration with obtaining this information from charities, and we recommend some actions for charities to rectify this situation. Recommendations for enhanced bequest solicitation are made together with suggestions for pathways for future bequest research involving lawyers.

The art of re-industrialisation in Shanghai

This paper deals with the development of ‘art clusters’ and their relocation in the city of Shanghai. It first looks at the revival of the city’s old inner city industrial area (along banks of Suzhou River) through ‘organic’ or ‘alternative’ artist-led cultural production; second, it describes the impact on these activities of the industrial restructuring of the wider city, reliant on large-scale real estate development, business services and global finance; and finally, outlines the relocation of these arts (and related) cultural industries to dispersed CBD locations as a result of those spatial, industrial and policy changes.

Creative industry clusters in Shanghai : a success story?

In 2005 the Shanghai municipal government adopted the notion of ‘creative industries’ as part of their economic development strategy. At the same time, they officially recognized a number of ‘Creative Industry Clusters’ (CIC) in the city; over the next five years these official clusters grew to over ninety in number. The active promotion of CIC by the local state can thus been seen as central to its adoption of the creative industries agenda, in turn part of its aspiration to become a modern, global metropolis. In the first part of this paper we look at the emergence of the creative industry agenda in China, making some general observations about the need to place such policy transfer in its specific context. We suggest how this agenda might be understood in the national context of China’s economic and cultural policy development. In the second we give a critical account of the development of the creative industries agenda in Shanghai and its relationship to that for CIC. We argue that this agenda had more to do with real estate development than the promotion of a ‘creative milieu’ or ‘ecosystem’, and we also give some reasons as to why this was the case. In the third section we provide some new evidence to suggest the increasing disjunction between CIC and such a wider ‘creative milieu’. In the final section we suggest some new ways in which these CIC might be approached by local government in Shanghai .

designing creative clusters : some indicators

This paper explores how the design of creative clusters as a key strategy in promoting the urban creative economy has played out in Shanghai. Creative Clusters in Europe and North America context have emerged ‘organically’. They developed spontaneously in those cities which went through a period of post-industrial decline. Creative Industries grew up in these cities as part of a new urban economy in the wake of old manufacturing industries. Artists and creative entrepreneurs moved into vacant warehouses and factories and began the trend of ‘creative clusters’. Such clusters facilitate the transfer of tacit knowledge through informal learning, the efficient sourcing of skills and information, competition, collaboration and learning, inter-cluster trading and networking. This new urban phenomenon was soon targeted by local economic development policy in charge of re-generating and re-structuralizing industrial activities in cities. Rising interest from real estate and local economic development has led to more and more planned creative clusters. In the aim of catching up with the world’s creative cities, Shanghai has planned over 100 creative clusters since 2005. Along with these officially designed creative clusters, there are organically emerged creative clusters that are much smaller in scale and much more informal in terms of the management. And they emerged originally in old residential areas just outside the CBD and expand to include French concession the most sort after residential area at the edge of CBD. More recently, office buildings within CBD are made available for creative usages. From fringe to CBD, these organic creative clusters provide crucial evidences for the design of creative clusters. This paper will be organized in 2 parts. In the first part, I will present a case study of 8 ‘official’ clusters (title granted by local govenrment) in Shanghai through which I am hoping to develop some key indicators of the success/failure of creative clusters as well as link them with their physical, social and operational efficacies. In the second part, a variety of ‘alternative’ clusters (organicly formed clusters most of which are not recongnized by the government) supplies with us the possibilities of rethinking the so-called ‘cluster development strategy’ in terms of what kind of spaces are appropriate for use by clusters? Who should manage them and in what format? And ultimately what are their relationship with the rest of the city should be defined?

Validating the is-impact model in the Malaysian public sector

This research is one of several ongoing studies conducted within the IT Professional Services (ITPS) research programme at Queensland University of Technology (QUT). In 2003, ITPS introduced the IS-Impact model, a measurement model for measuring information systems success from the viewpoint of multiple stakeholders. The model, along with its instrument, is robust, simple, yet generalisable, and yields results that are comparable across time, stakeholders, different systems and system contexts. The IS-Impact model is defined as “a measure at a point in time, of the stream of net benefits from the Information System (IS), to date and anticipated, as perceived by all key-user-groups”. The model represents four dimensions, which are ‘Individual Impact’, ‘Organizational Impact’, ‘Information Quality’ and ‘System Quality’. The two Impact dimensions measure the up-to-date impact of the evaluated system, while the remaining two Quality dimensions act as proxies for probable future impacts (Gable, Sedera & Chan, 2008). To fulfil the goal of ITPS, “to develop the most widely employed model” this research re-validates and extends the IS-Impact model in a new context. This method/context-extension research aims to test the generalisability of the model by addressing known limitations of the model. One of the limitations of the model relates to the extent of external validity of the model. In order to gain wide acceptance, a model should be consistent and work well in different contexts. The IS-Impact model, however, was only validated in the Australian context, and packaged software was chosen as the IS understudy. Thus, this study is concerned with whether the model can be applied in another different context. Aiming for a robust and standardised measurement model that can be used across different contexts, this research re-validates and extends the IS-Impact model and its instrument to public sector organisations in Malaysia. The overarching research question (managerial question) of this research is “How can public sector organisations in Malaysia measure the impact of information systems systematically and effectively?” With two main objectives, the managerial question is broken down into two specific research questions. The first research question addresses the applicability (relevance) of the dimensions and measures of the IS-Impact model in the Malaysian context. Moreover, this research question addresses the completeness of the model in the new context. Initially, this research assumes that the dimensions and measures of the IS-Impact model are sufficient for the new context. However, some IS researchers suggest that the selection of measures needs to be done purposely for different contextual settings (DeLone & McLean, 1992, Rai, Lang & Welker, 2002). Thus, the first research question is as follows, “Is the IS-Impact model complete for measuring the impact of IS in Malaysian public sector organisations?” [RQ1]. The IS-Impact model is a multidimensional model that consists of four dimensions or constructs. Each dimension is represented by formative measures or indicators. Formative measures are known as composite variables because these measures make up or form the construct, or, in this case, the dimension in the IS-Impact model. These formative measures define different aspects of the dimension, thus, a measurement model of this kind needs to be tested not just on the structural relationship between the constructs but also the validity of each measure. In a previous study, the IS-Impact model was validated using formative validation techniques, as proposed in the literature (i.e., Diamantopoulos and Winklhofer, 2001, Diamantopoulos and Siguaw, 2006, Petter, Straub and Rai, 2007). However, there is potential for improving the validation testing of the model by adding more criterion or dependent variables. This includes identifying a consequence of the IS-Impact construct for the purpose of validation. Moreover, a different approach is employed in this research, whereby the validity of the model is tested using the Partial Least Squares (PLS) method, a component-based structural equation modelling (SEM) technique. Thus, the second research question addresses the construct validation of the IS-Impact model; “Is the IS-Impact model valid as a multidimensional formative construct?” [RQ2]. This study employs two rounds of surveys, each having a different and specific aim. The first is qualitative and exploratory, aiming to investigate the applicability and sufficiency of the IS-Impact dimensions and measures in the new context. This survey was conducted in a state government in Malaysia. A total of 77 valid responses were received, yielding 278 impact statements. The results from the qualitative analysis demonstrate the applicability of most of the IS-Impact measures. The analysis also shows a significant new measure having emerged from the context. This new measure was added as one of the System Quality measures. The second survey is a quantitative survey that aims to operationalise the measures identified from the qualitative analysis and rigorously validate the model. This survey was conducted in four state governments (including the state government that was involved in the first survey). A total of 254 valid responses were used in the data analysis. Data was analysed using structural equation modelling techniques, following the guidelines for formative construct validation, to test the validity and reliability of the constructs in the model. This study is the first research that extends the complete IS-Impact model in a new context that is different in terms of nationality, language and the type of information system (IS). The main contribution of this research is to present a comprehensive, up-to-date IS-Impact model, which has been validated in the new context. The study has accomplished its purpose of testing the generalisability of the IS-Impact model and continuing the IS evaluation research by extending it in the Malaysian context. A further contribution is a validated Malaysian language IS-Impact measurement instrument. It is hoped that the validated Malaysian IS-Impact instrument will encourage related IS research in Malaysia, and that the demonstrated model validity and generalisability will encourage a cumulative tradition of research previously not possible. The study entailed several methodological improvements on prior work, including: (1) new criterion measures for the overall IS-Impact construct employed in ‘identification through measurement relations’; (2) a stronger, multi-item ‘Satisfaction’ construct, employed in ‘identification through structural relations’; (3) an alternative version of the main survey instrument in which items are randomized (rather than blocked) for comparison with the main survey data, in attention to possible common method variance (no significant differences between these two survey instruments were observed); (4) demonstrates a validation process of formative indexes of a multidimensional, second-order construct (existing examples mostly involved unidimensional constructs); (5) testing the presence of suppressor effects that influence the significance of some measures and dimensions in the model; and (6) demonstrates the effect of an imbalanced number of measures within a construct to the contribution power of each dimension in a multidimensional model.

Motives and barriers to bequest giving

Much is known about motivations for giving to charities generally. However, much less has been identified about bequestors as a unique type of charitable donor. This paper explores the motives and barriers for charitable bequest giving. Hypotheses are drawn from the general philanthropic literature and tested using survey data from Australia, a nation distinguished by very high lifetime (inter vivos) giving but low estate (post mortem) giving. The results show that belief in the efficacy of charitable organizations is requisite for leaving a bequest, as the deceased donor has no control over the enactment of the gift. This effect is mediated by the perceived difficulty of making a charitable bequest, which forms an important barrier for leaving such a legacy. Having family whose financial needs are perceived as not taken care of and the perception of financial inability to make a difference also form barriers for bequest giving. The results confirm that bequests constitute a distinctive charitable behaviour, with unique motives and barriers compared to other types of inter vivos giving. While charitable behaviour in general is driven by altruistic attitudes and political and religious values, as well as social reputation, these factors do not affect charitable bequest making as expected. Surprisingly, we find a negative relationship between financial resources and the inclination to leave a charitable bequest. The article ends with suggestions for ways charities might connect more meaningfully with their bequestors or with donors who might consider bequeathing to them.