The credit spread dynamics of Latin American euro issues in international bond markets

This paper investigates two important relationships using the sovereign issues made by major Latin American economies in the international bond market: the determinants of credit spread changes using variables derived from structural and macroeconomic theory and the impact of a default episode on the underlying equilibrium dynamics. We find four significant determinants of credit spread changes: an asset and interest rate factor—consistent with structural models of credit spread pricing; the exchange rate—consistent with macroeconomic determinants and the slope of the yield curve—consistent with a business cycle effect. Also, an intra-regional analysis of sovereign yields reveals a shift in the long-run equilibrium dynamics around the Argentine default on the 23 December 2001.

No limits : exploring the psychology of unsolicited credit card limit increase offers

The issue of credit card debt has become an increasing concern in recent years. In Australia, for example, there is currently $42.5 billion worth of outstanding debt on credit cards, with $30 billion (over 70 per cent) bearing interest. Further, in 2001, Visa reported that 32 per cent of consumers had not paid their card off in the previous 12 months, which suggests that interest-bearing debt in Australia is held by approximately only 113 of credit card borrowers. An important element of credit card marketing is the use of psychological manipulations to encourage consumers to take-up credit. In this article, we examine the use of language and imagery in unsolicited credit card limit increase offers, and how these might influence consumers' decisions to increase their credit card limit. The analysis found that the use of terms that focused on the benefits of credit card use, such as "choice", "freedom", and "peace of mind" were used consistently to convince consumers to increase their credit card limit, whereas the use the of terms that could be considered more pragmatic and with direct reference to the nature of the product, such as "debt", "repayment" and "loan", were rarely used. Similarly, the use of colour, text changes, and images, were used which may have an influence over a consumer's ability to rationally consider whether the increase is appropriate for them. The paper concludes by recommending that government and representative bodies need to take into account the psychological manipulations used by credit card providers when developing consumer policy and codes of ethics.

Congratulations, you're pre-approved! : an analysis of credit limit upselling letters

Consumer Action commissioned Dr Paul Harrison, Deakin Business School, Deakin University and Marta Massi, School of Marketing and Communication, Lumsa University (Rome), to study the psychological aspects of one form of credit marketing – unsolicited credit card limit-increase offers (UCCLIOs). The researchers studied 21 UCCLIO letters – 17 provided by consumers and four provided by banks – and applied theories developed from previous research in the fields of marketing, consumer behavior, behavioural economics and cognitive psychology, to describe likely ways in which UCCLIO’s influenced consumer behavior and decision making. The researchers make some recommendations from a behavioural perspective based on their findings, and Consumer Action proposes how these findings might be applied to consumer policy.

Exploring the extent and nature of the diversity of the doctoral population in Australia : A profile of the respondents to a 2005 national survey

Although there is general agreement that diversity is a feature of doctoral education in Australia, there are various forms and levels of diversity, many of which are not captured by analyses that rely on categories for analysing the doctoral education population that are those commonly used in education at the undergraduate level, such as sex, age, mode of study, type of enrolment, citizenship, and Broad Field of Study, etc. These categories primarily reflect concerns to do with funding and issues of participation and equity. Our analysis of data from a national survey of doctoral candidates carried out in 2005 as part of a Linkage Grant project “Reconceptualising the doctoral experience’, suggests that not all of these categories are relevant to critical concerns for doctoral education. Nor do analyses at a macro-level represent the particularity of the doctoral experience. They can mask the reality of a highly variable student population, and one that is not necessarily represented accurately or helpfully by ascribing group identities.

Responding to the ageing profile of emergency department patients

Background
Older people with acute superimposed on chronic health problems are becoming a core aspect of emergency department (ED) caseload. This project explored the ED experience from the perspective of older patients and their carers.

Method
A convenience sample of thirty participants was recruited across three participating EDs: tw o metropolitan and one regional. The project utilised two approaches to data collection: 1) an observation approach where a project officer observed participants from the time of ED presentation until discharge, or for up to six hours; and 2) a subsequent interview was conducted with the participant and their carer within a week of the ED presentation. Data from both sources were integrated, and independently thematically analysed by two members of the team.

Results
Thirty participants aged over 65 were recruited. Their average age was 77.1 (sd=6.7) years, 59% w ere female, and 74% were triage category 1- 3 (indicating moderate/high acuity). Participants spent on average 7 hours 47 minutes in the ED, with 50% discharged home, 43% admitted to general wards or MAPU, and 7% discharged to residential care/hospice. Key themes in the factors influencing the patient experience and examples of quality care were identified, along with opportunities to improve the capacity for EDs to be “older person friendly”, and “person-centred.” Challenges include improving the effectiveness of communication between staff and patients/carers (including issues around people from culturally and linguistically diverse backgrounds), availability of allied health professionals to assist with discharge planning, and a tendency for older people not to seek ED care until the health problem was severe. Patient exemplars highlight key themes.

Discussion and implications
Results of the project highlight positive aspects of emergency department care for older people and inform targets for improvement strategies. These can be used to drive ongoing improvements in care for older people presenting to EDs.

The role of leadership theory in raising the profile of women in management

Purpose: To consider how leadership theories have helped or hindered raising the profile of women in management and leadership roles.

Design/methodology/approach: This paper traces the earlier leadership theories through to the contemporary research on transactional and transformational leadership styles and offers a viewpoint on how each theory has contributed, or otherwise, to an awareness and acceptance of women in management and leadership roles.

Findings:  In 1990, research began to report gender differences in leadership styles with female managers being seen in positive terms as participative, democratic leaders. More recent work reports that women are believed to exhibit more transformational leadership style than their male colleagues, and this is equated with effective leadership.

Research limitations/implications:  All of the earlier theories on leadership excluded women and this exacerbated the problem of women not being seen as an appropriate fit in a management or leadership role. Recent findings clearly describe that the transformational qualities of leadership that women exhibit are required by the flatter organisational structures of today. Therefore, a more positive outcome for women advancing to senior roles of management or leadership may be observed in the future.

Originality/value:  The paper reviews the major leadership theories, and links these to a timeframe to illustrate how women were not visible in a management context until relatively recently. Such an omission may have contributed to the continuing low numbers of women who advance to senior management and leadership roles.

Internal audit - an Asia-Pacific profile and the level of compliance with internal auditing standards

Purpose – The purpose of this paper is to provide an overview of the profile of internal audit in five Asia-Pacific countries and investigate the usage and compliance with the Institute of Internal Auditors (IIA) International Standards for the Professional Practices of Internal Auditing (Standards) by organizations' internal audit activities (IAAs). This paper shows the differences between Australia, China, Japan, New Zealand and Taiwan. It also discusses part of the results of the Common Body of Knowledge 2006 global study conducted by the IIA.

Design/methodology/approach – The paper reports the results of a questionnaire survey sent to the global membership of the IIA in September 2006 on various aspects of internal audit practices.

Findings – The profile of internal audit differs amongst the countries with much older organizations exist in Australia, Japan and New Zealand. Respondents in New Zealand, Japan, Chinese Taiwan, China and Australia all report to have a reasonably high level of usage of Standards. However, Australia has the highest number of respondents who report that they are in full compliance of the Standards.

Originality/value – This is the first global study of internal auditors' compliance with the IIA Standards.

Profile of a fully online unit in an Australian arts and education faculty

Australia's leading distance education provider, Deakin University, has a policy to ensure all graduates in most courses must successfully complete at least one wholly online unit. Historically, all distance education at Deakin University has been undertaken solely in print. Off-campus students normally receive a Set Text, a series of additional photocopied readings and a Study Guide providing assistance on how to navigate through each weekly topic. Some fully online units currently offered by the University replicate this approach, ever though a distinct pedagogy is needed to ensure wholly online units truly enhance student learning.

This paper outlines the approach we adopted in developing AIX 391 - Work Transitions in the 2Ist Century, a wholly online unit designed to improve the capacity of Arts and Education students to identify viable career paths after they have graduated, The paper outlines the unit's rationale and development over a two-year period in adopting a student-centred approach to enhance teaming outcomes, while exposing students to new and often challenging online technologies. The paper also highlights results from the Student Evaluation of Teaching and Learning surveys, which ranked the unit in the top 5% of all Arts and Education faculty units offered in Semester 2, 2008.

On the communal analysis suspicion scoring for identity crime in streaming credit applications

This paper describes a rapid technique: communal analysis suspicion scoring (CASS), for generating numeric suspicion scores on streaming credit applications based on implicit links to each other, over both time and space. CASS includes pair-wise communal scoring of identifier attributes for applications, definition of categories of suspiciousness for application-pairs, the incorporation of temporal and spatial weights, and smoothed k-wise scoring of multiple linked application-pairs. Results on mining several hundred thousand real credit applications demonstrate that CASS reduces false alarm rates while maintaining reasonable hit rates. CASS is scalable for this large data sample, and can rapidly detect early symptoms of identity crime. In addition, new insights have been observed from the relationships between applications.

Profile of a business discipline

A brief review of the history of the School of Business at the Phillip Institute of Technology shows that the School has undergone considerable and positive change over its relatively short life, largely in response to professional, academic, socio-economic and political pressures. One such pressure emanates from the current educational rationale of the State Government which includes the rationalisation through amalgamation of higher educational institutions. As a result of this rationale, in late 1991 the Phillip Institute of Technology and the Royal Melbourne Institute of Technology announced that they would amalgamate in July 1992.

The Phillip Institute of Technology is no stranger to amalgamation. In fact it originated by way of amalgamation when the Preston Institute of Technology amalgamated in 1982 with the State College of Victoria at Coburg. Throughout the period 1988-1991 Phillip Institute of Technology was involved in protracted amalgamation discussions with La Trobe University. These discussions failed, but were followed very quickly by the amalgamation proposal with the Royal Melbourne Institute of Technology.

This paper provides a review of the development of the School of Business at the Phillip Institute of Technology prior to the proposed amalgamation with the Royal Melbourne Institute of Technology.