Should the court direct that costs ordered to be recovered on the indemnity basis be assessed by reference to a costs agreement between the successful party and their solicitors?

The decision in Hook v Boreham & QBE Insurance (Australia) Limited [2006] QDC 304 considered whether the court should go further than order that costs be assessed on the indemnity basis, but should also specify the basis by which those indemnity costs should be determined. The decision makes it clear that under r704(3) of the Uniform Civil Procedure Rules, questions of that nature are ordinarily preserved to the discretion of the Registrar.

Cyclone Tracy and the road to improving wind-resistant design

Early on Christmas morning 1974, tropical cyclone Tracy devastated the city of Darwin leaving only 6 per cent of the city’s housing habitable and instigating the evacuation of 75 per cent of its population. The systematic failure of so much of Darwin’s building stock led to a humanitarian disaster that proved the impetus for an upheaval of building regulatory and construction practices throughout Australia. Indeed, some of the most enduring legacies of Tracy have been the engineering and regulatory steps taken to ensure the extent of damage would not be repeated. This chapter explores these steps and highlights lessons that have led to a national building framework and practice at the fore of wind-resistant design internationally.

Predicting stock market returns and volatility with investor sentiment : evidence from eight developed countries

We test the predictive ability of investor sentiment on the return and volatility at the aggregate market level in the U.S., four largest European countries and three Asia-Pacific countries. We find that in the U.S., France and Italy periods of high consumer confidence levels are followed by low market returns. In Japan both the level and the change in consumer confidence boost the market return in the next month. Further, shifts in sentiment significantly move conditional volatility in most of the countries, and in Italy such impacts lead to an increase in returns by 4.7% in the next month.

Planning to Learn : Creating and Using a Personal Planner with Young People on the Autism Spectrum

Late intervention often means that young people on the autism spectrum appear to act on impulse, seem disorganized, or fail to learn from past experiences. In this practical, effective resource, the authors share tried and tested techniques for creating and using a personal planner to help individuals on the autism spectrum to develop independence. "Planning to Learn" is split into three parts. The first part guides adults in helping young people to make sense of the world and to develop and practise coping strategies for any given situation. The authors also explain how simple visual and verbal cues can help people to cope successfully in stressful situations. The second part provides worksheets for the young person to complete to learn how to use plans in different situations, for example staying calm when waiting for a doctor, or coping with a change in the school timetable. Each individual makes a unique planner with procedures to refer to, such as responding to pressure, calming down, being organised, and being around people. The third part includes useful cards, schedules and plans for photocopying and including in the planner. This illustrated photocopiable workbook is packed with guidance, support and helpful notes for those new to, or experienced in, working with children and young people with ASD. It can be used within educational and community settings or at home.

Exploring potential factors leading to effective training : an exclusive study on commercial banks in Cambodia

Purpose A previous study found that the quality of education in Cambodia is poor compared to other developing countries. However, the working performance of commercial banks in Cambodia is high. It was speculated that effective training was the main factor underlying this contradiction. Therefore, the main purpose of this article is to explore the elements of training conducted by commercial banks in Cambodia and to examine their relationship with training effectiveness. Design/methodology/approach The research focuses on six factors: training needs assessment; training program; flexibility of training; self-efficacy; social support; and transfer of knowledge. The data came in the form of questionnaires and desk research. A descriptive analytical approach is then used to describe these six factors. Findings The banking industry in Cambodia offers very effective training to its employees. It is also worth noting that more than 80 percent of employees are satisfied with the training, despite few attempts on the part of management to elicit opinions from employees on what training methods should be employed. Research limitations/implications As research studies involving Cambodia are relatively rare, it was difficult for to gather primary data. Because of this limitation and the purpose of this study, descriptive data interpretation was employed. Practical implications – Even though training can make up for poor education, it is only a short-term solution. In the long term, education needs to be enhanced to increase working performance. Originality/value This research provides a good framework for commercial banks in other developing countries to compare. A cross-cultural study is also proposed for future research.

Perturbing event logs to identify cost reduction opportunities: a genetic algorithm-based approach

Organisations are constantly seeking new ways to improve operational efficiencies. This research study investigates a novel way to identify potential efficiency gains in business operations by observing how they are carried out in the past and then exploring better ways of executing them by taking into account trade-offs between time, cost and resource utilisation. This paper demonstrates how they can be incorporated in the assessment of alternative process execution scenarios by making use of a cost environment. A genetic algorithm-based approach is proposed to explore and assess alternative process execution scenarios, where the objective function is represented by a comprehensive cost structure that captures different process dimensions. Experiments conducted with different variants of the genetic algorithm evaluate the approach's feasibility. The findings demonstrate that a genetic algorithm-based approach is able to make use of cost reduction as a way to identify improved execution scenarios in terms of reduced case durations and increased resource utilisation. The ultimate aim is to utilise cost-related insights gained from such improved scenarios to put forward recommendations for reducing process-related cost within organisations.

Does the price of oil interact with clean energy prices in the stock market?

In this paper, we analyze the relationships among oil prices, clean energy stock prices, and technology stock prices, endogenously controlling for structural changes in the market. To this end, we apply Markov-switching vector autoregressive models to the economic system consisting of oil prices, clean energy and technology stock prices, and interest rates. The results indicate that there was a structural change in late 2007, a period in which there was a significant increase in the price of oil. In contrast to the previous studies, we find a positive relationship between oil prices and clean energy prices after structural breaks. There also appears to be a similarity in terms of the market response to both clean energy stock prices and technology stock prices. © 2013 Elsevier B.V.

Correlations and volatility spillovers across commodity and stock markets: Linking energies, food, and gold

This paper employs a VAR-GARCH model to investigate the return links and volatility transmission between the S&P 500 and commodity price indices for energy, food, gold and beverages over the turbulent period from 2000 to 2011. Understanding the price behavior of commodity prices and the volatility transmission mechanism between these markets and the stock exchanges are crucial for each participant, including governments, traders, portfolio managers, consumers, and producers. For return and volatility spillover, the results show significant transmission among the S&P 500 and commodity markets. The past shocks and volatility of the S&P 500 strongly influenced the oil and gold markets. This study finds that the highest conditional correlations are between the S&P 500 and gold index and the S&P 500 and WTI index. We also analyze the optimal weights and hedge ratios for commodities/S&P 500 portfolio holdings using the estimates for each index. Overall, our findings illustrate several important implications for portfolio hedgers for making optimal portfolio allocations, engaging in risk management and forecasting future volatility in equity and commodity markets. © 2013 Elsevier B.V.

Understanding financial information used to assess small firm performance : an Australian qualitative study

Purpose The purpose of this paper is to investigate the reality of financial and management accounting in a small group of small firms. Specifically, from the owner's perspective, an exploration is undertaken to see what financial information is collected, how it is used (or not) to make business decisions and evaluate the firm's performance, and the role played by the accountant in that process. Design/methodology/approach A phenomenological paradigm underpins this exploratory study. Semi‐structured interviews were undertaken with the owners of ten small firms, where the focus was on understanding what happens in an organisational setting, as opposed to theory and textbook practice. Findings The qualitative data supported prior research in other countries. The in‐depth analysis revealed a very basic understanding of accounting information and problems with the financial literacy amongst these small firm owners. Accounting reports were not widely produced or used, so an informal assessment, such as how much cash was in the bank, was the primary means of assessing business performance. Accountants were used for taxation services, although some owners sought more general business advice. Originality/value An understanding is developed of why there might be a gap between textbook rhetoric and reality of accounting practice in small firms. The conclusion is that accounting textbooks need to include more information about the reality of financial management in small firms.

Stock prices of clean energy firms, oil and carbon markets : a vector autoregressive analysis

Recent discussions of energy security and climate change have attracted significant attention to clean energy. We hypothesize that rising prices of conventional energy and/or placement of a price on carbon emissions would encourage investments in clean energy firms. The data from three clean energy indices show that oil prices and technology stock prices separately affect the stock prices of clean energy firms. However, the data fail to demonstrate a significant relationship between carbon prices and the stock prices of the firms.

The contribution of sport and performance psychology to coaching

The role of the sport and performance psychologists offers an historical base to many of the conceptualizations, strategies and tools currently utilized by coaches and coaching psychologists. The world of elite sport and performance offers little room for negativity, little tolerance for cognitions, emotions and behaviours that are less than optimal; in an environment that sets high expectation, makes obvious comparisons and is driven by competition; all within inflexible timelines and with harsh consequences for those that don’t make the grade. From this context the presenters will reflect on their development, challenges and expertise; offering ideas and tools that translate into the coaching arena.

Thoughts make the world

Thoughts Make the World is a synchronised two-channel video with sound. On the right-hand screen, a young man and woman exchange timeworn philosophical phrases and existential questions. On the left-hand screen, a guitarist plays a soundtrack that slowly builds over time. As the actors’ quest for meaning struggles toward an unresolved end, the guitarist launches into a climactic, liberating solo, eclipsing their somewhat-labored attempts to understand existence. By contrasting these verbal and non-verbal signifiers of self-reflection and self-expression, Thoughts Make the World questions how and where to grapple with enduring existential problems in a context dominated by the pre-packaged formats of popular culture and ironic modes of individualised response.

When to pull the plug and when to take the plunge : timing strategic decisions about new ventures

It is not uncommon for firms to explore a new venture under the belief it will generate profits, only to find out later that although costs accumulated, profits did not materialize. To manage the high level of uncertainty involved in this process, new ventures are generally designed as vehicles of exploration (Wu, 2012) that allow for a staged investment of resources, starting with small initial investments that can be scaled up or discontinued as uncertainty is resolved over time (Folta, 1998; Li and Chi, 2013). As such, new ventures provide firms a vehicle by which they can probe an uncertain future (Brown and Eisenhardt, 1997) without fully committing early on to an irreversible course of action (Folta, Johnson, and O’Brien, 2006). Our focus in the present paper is on the timing of strategic decisions that firms make regarding their exploration ventures. Prior research in the fields of entrepreneurship, real options reasoning, and decision speed has demonstrated a link between the timing of making decisions and performance (Baum and Wally, 2003; Eisenhardt, 1989; Judge and Miller, 1991). The antecedents to the timing of decisions, however, are less understood and pose an interesting dilemma.

Submission to the Legal Affairs and Community Safety Committee Youth Justice and Other Legislation Amendment Bill

This submission addresses the Youth Justice and Other Legislation Amendment Bill 2014 the objectives of which are to: 1. Permit repeat offenders’ identifying information to be published and open the Children’s Court for youth justice matters involving repeat offenders; 2. Create a new offence where a child commits a further offence while on bail; 3. Permit childhood findings of guilt for which no conviction was recorded to be admissible in court when sentencing a person for an adult offence; 4. Provide for the automatic transfer from detention to adult corrective services facilities of 17 year olds who have six months or more left to serve in detention; 5. Provide that, in sentencing any adult or child for an offence punishable by imprisonment, the court must not have regard to any principle, whether under statute or at law, that a sentence of imprisonment (in the case of an adult) or detention (in the case of a child) should only be imposed as a last resort; 6. Allow children who have absconded from Sentenced Youth Boot Camps to be arrested and brought before a court for resentencing without first being given a warning; and 7. Make a technical amendment to the Youth Justice Act 1992.

AR and gamification concepts to reduce driver boredom and risk taking behaviours

Young males are over-represented in road crashes. Part of the problem is their proneness to boredom, a hardwired personality factor that can lead to risky driving. This paper presents a theoretical understanding of boredom in the driving context and demonstrates convincing arguments to investigate the role of boredom further. Specifically, this paper calls for the design of innovative technologies and applications that make safe driving more pleasurable and stimulating for young males, e.g., by applying gamification techniques. We propose two design concepts through the following questions: A. Can the simulation of risky driving reduce actual risky driving? B. Can the replacement of risky driving stimuli with alternative stimuli reduce risky driving? We argue that considering these questions in the future design of automotive user-interfaces and personal ubiquitous computing devices could effectively reduce risky driving behaviours among young males.