Re-emerging conflict in the Solomon Islands? The underlying causes and triggers of the riots of April 2006

The recent tensions in Honiara, the capital of the Solomon Islands, in April 2006 provide a clear warning that despite the presence of the Regional Assistance Mission in the Solomon Islands, led by the Australian government, many of the issues that led to prolonged conflict in 1998 have not yet been adequately addressed. This piece of research examines the root causes of continued conflict as experienced by the people themselves, and the triggers for the sudden explosion of violence in April 2006. It offers insights into the successes and failures of the international presence in the Solomon Islands, as well as presenting local opinions on the likelihood of further conflict. Based on the findings some suggestions are made regarding the targeting of programs, and the adaptations that may need to be made in the approach adopted by the international community.

Bonding with cultural brands: exploring the 'binds that tie us'

In contexts such as those in the arts and culture industry, where the use of branded products may be difficult to access due to intermittent availability, or, where the branded product outcomes may be difficult to predict, it is argued that consumers form complex relationships with brands.
In order to explore these complex relationships, this research explores the components of the bond that consumers form with arts and cultural products and brands. This research highlights empirically five components of brand bonding with arts and cultural products, viz., brand trust/affinity, social/self connectedness, loyalty, emotional connectedness and brand involvement. These results found that intricacies emerge, such as consumer optimism about branded product failures, anticipation of usage, and a sense of responsibility for the success of the brand. More importantly, these findings suggest that in situations where service outcomes are uncertain, and where the service is available intermittently, loyal consumers are still willing to develop a relationship based on their connectedness or bond with the brand, despite the situational difficulties associated with accessing it.

Managing data using neighbor replication on triangular-grid structure

Data is one of the domains in grid research that deals with the storage, replication, and management of large data sets in a distributed environment. The all-data-to-all sites replication scheme such as read-one write-all and tree grid structure (TGS) are the popular techniques being used for replication and management of data in this domain. However, these techniques have its weaknesses in terms of data storage capacity and also data access times due to some number of sites must ‘agree’ in common to execute certain transactions. In this paper, we propose the all-data-to-some-sites scheme called the neighbor replication on triangular grid (NRTG) technique by considering only neighbors have the replicated data, and thus, minimizes the storage capacity as well as high update availability. Also, the technique tolerates failures such as server failures, site failure or even network partitioning using remote procedure call (RPC).

Earth bound: the rise and fall of a ground-breaking venture

Earth Sanctuaries Ltd (ESL) intends to offer its entire asset base for sale. ESL's primary objective is to conserve Australia's biodiversity, by breeding and preserving fauna profitably by running sanctuaries, environmental consultancies and related tourist facilities. This "ailing company" is also undergoing a management restructuring and attempting cost reduction. ESL was was one of the first firms to adopt AASB 1037. The implications for the accounting profession are discussed.

Arts governance - marching Western models to Asia

Corporate failures and fraud have turned attention to company governance. While much of the literature is on for-profit governance, there is a steadily increasing non-profit literature arguing for industry specific governance studies, such as this one. Researching arts organisation governance in Asia, where profitability or sustainability are not the only measures for performance, provides a better understanding of theses cultures and economies. Here, a comparative review of arts governance is undertaken in order to inform debate in a discipline and in countries less frequently included in analysis. The Hong Kong Special Administrative Region (SAR) and Singapore are included in this brief review of Asian governance. What constitutes good governance and the unique cultural variables in each region are considered.

An exploratory study into the accountancy firms chosen by industrial company IPOS in Australia from 1994 to 2004

This study is an exploration into the choice of independent accountants made by industrial initial public offering (IPO) companies in Australia between the years 1994 to 2004. The aim of this research is to determine which companies are more likely to use one of the Top 5 accountancy firms and in so doing we seek to offer some insight into understanding the likelihood of IPO companies adopting the services of the big accounting firms. Our findings show, as predicted, that the majority of industrial IPO companies, and particularly the larger companies, used one of the Top 5 accountancy firms as their independent accountant. However, unexpected was that certain industry types were less likely to hire a Top 5 accounting firm for their independent accounting services compared to other industry categories. Our studies also found that after the year 2000 a smaller percentage of companies used independent accountants than between 1994 and 1999. Many factors contribute to the selection of an independent accountant and this paper provides some understanding of identified factors and the influence that they have over the choice of independent accountants by industrial company IPOs.

Variation in consumer outcomes : does the type of failure (process or outcome) matter?

Literature suggests that various customer outcomes are likely to be negative after a failed service encounter. Service failures can arise for many reasons and consumers may react differently, depending on the type of failure. This study focuses on exploring whether consumer outcomes differ based on whether the consumer experiences a process failure or outcome failure. The results from this study suggest that variations in consumer outcomes differ across the two types of failures; with consumers generally being more dissatisfied in outcome failure situations as compared to process failure situations.

An empirical investigation of the effect of interaction justice perception on consumer intentions after complaining

This study examined how apology as interaction justice impacts on consumer perceptions of service recovery attempt.  Data was collected using hypothetical scenarios.  Two types of service failures were proposed and the impact of recovery action on each failure type was compared.  Findings include that there is direct effect of recovery action on consumer future intentions in both type of failures.  Implications and direction to the future research were proposed.

Exploratory study into the accountancy firms chosen by industrial company IPOs in Australia from 1994 to 2004

This study is an exploration into the choice of independent accountants made by industrial initial public offering (IPO) companies in Australia between the years 1994 to 2004. The aim of this research is to determine which companies are more likely to use one of the Top 5 accountancy firms and in so doing we seek to offer some insight into understanding the likelihood of IPQ companies adopting the services of the big accounting firms. Our findings show, as predicted, that the majority of industrial IPO companies, and particularly the larger companies, used one of the Top 5 accountancy firms as their independent accountant. However, unexpected was that certain industry types were less likely to hire a Top 5 accounting finn for their independent accounting services compared to other industry categories. Our studies also found that after the year 2000 a smaller percentage of companies used independent accountants than between 1994 and 1999. Many factors contribute to the selection of an independent accountant and this paper provides some understanding of identified factors and the influence that they have over the choice of independent accountants by industrial company IPOs.

Underpricing of energy IPOs in Australia

The underpricing of initial public offerings (IPOs) has been discussed in the literature for over thirty years. Underpricing is the term used when the issue price of the shares of a company raising public equity capital and seeking to list on a stock exchange is below the closing price of the shares on the first day of listing. As such, underpricing theoretically allows subscribing investors the opportunity of making a return on the day of listing. The international evidence as examined in [4] and updated in [5] has documented that subscribing investors made handsome double-digit' (for example US IPOs - 15.7%, UK IPOs 12%, Turkish IPOs - 13.1 %, Greek IPOs -49.0%) or even triple-digit (for example Chinese IPOs 256.9%) statistically significant positive first day returns, on average. These studies are generally however of industrial company IPOs.

The purpose of this paper is to investigate the underpricing returns of Australian energy IPOs from January 1994 to June 2007. Two previous studies into natural resource IPOs in Australia only made fleeting mention of energy IPOs because of the small sample sizes. [3] identified 2 solid fuel IPOs and 13 oil and gas IPOs (amongst 130 other natural resource IPOs) during 1979 to 1990 and advised average underpricing returns of 106.5% and 47.3% respectively for investors subscribing to these IPOs. [2] investigated 19 energy IPOs (amongst 96 other natural resource IPOs) from 1994 to 1999 and reported an average underpricing return of 8.3%.

The sample set of 134 used in this study is significantly greater than previous Australian studies. These 134 energy IPOs raised over $1.945 billion of public equity capital from January 1994 to June 2007. [3] reports on the importance of the natural resources sectors to Australia's economy and the fact that companies working in these sectors constitute around one third of the entities listed on the Australian Stock Exchange.

This study also follows a highly influential paper in the IPO literature by [I]. They argue that the lower the uncertainty about the value of an IPO, the lower the underpricing needed to attract subscribers. Given the linkage between uncertainty and underpricing, this study seeks to identify the factors that might influence uncertainty and hence underpricing.

The study found that the mean underpricing return for these energy lPOs is 22.8% and statistically significant. The model used to investigate variables that might help explain the level of underpricing in this industry sector is also particularly useful. An important finding in the study for new issuers, underwriters and subscribing investors is that those energy IPO firms that used underwriters had substantially lower underpricing. The other finding that larger issues are likely to have lower underpricing is consistent with prior industrial company IPO studies.

An overview of IT outsourcing in public secto agenices

For the past 15 years, governments in the developed, Western world have been contracting out, or outsourcing, services as a key part of public sector reforms. Outsourcing has been argued to lead to cost savings, improved discipline, better services, access to scarce skills, and the capacity for managers to focus more time on the core business of their organizations (Domberger, 1998). Government outsourcing initiatives have encompassed a range of services, but given the large sums of money invested in IT assets, the outsourcing of IT services (IT outsourcing, or ITO) has been a major initiative for many agencies. Lacity and Willcocks (1998, p. 3) defined ITO as "handing over to a third party [the] management of IS/IT assets, resources and/or activities for required results." For public-sector outsourcing, this handover is usually made by way of a competitive tender. Case studies have reported ITO successes and failures (e.g., Currie & Willcocks, 1998; Rouse & Corbitt, 2003; Willcocks & Currie, 1997; Willcocks & Lacity, 2001; Willcocks & Kern, 1998), but much of the evidence presented to public-sector decision makers to justify this reform is anecdotal and unsystematic, and when investigated in depth, does not necessarily support widespread conclusions.

Socio-technical factors influencing channel use for knowledge-sharing in regional SME networks

The economic sustainability of regional areas is dependent on cross-industry innovation and knowledge-sharing among Small and Medium Enterprises (SMEs). The web-based initiatives deployed in regions worldwide to facilitate SME knowledge-sharing have typically been unsuccessful. This paper argues that the main reason for these failures is the lack of understanding of the socio-technical factors which influence the use of web-based channels (websites, online forums and expertise databases) as well as the more conventional channels (face-to-face and e-mail). This paper reports the findings of interpretive case studies of two regional SME business networks. It evaluates the major channels on six socio-technical criteria: link strength; trustworthiness; tacitness; usability; durability and currency. None of the channels were strong against all socio-technical factors. This highlights the importance of achieving an appropriate mix of channels to facilitate SME knowledge-sharing.

Conflicts of interest and China's A-share underpricing

The extremely high A-share underpricing in China's primary market provides us with a very interesting area of empirical research. Previous studies on China's IPO underpricing have been suggestive, but inconclusive. A significant decline in A-share underpricing is found in 2003 relative to previous years (and much less than that recorded in the literature to date). We examine the validity of previous A-share underpricing models, reported in the literature, and find a statistically significant structural break in the data during 2003 when these models are specified. We further explore conflicts of interest in the Chinese IPO market and specify an alternative model to further examine this change in observed market behavior. Our results suggest that a contract with high underwriter's fee leads to less A-share underpricing. Our results also suggest that the asymmetric information hypothesis does not apply in the Chinese IPO market in 2003. Overpricing by the secondary market and the trading activity on the first trading day are the main functions of the A-share underpricing. This study has important implications such as guiding the Chinese government policy regarding the regulations of initial public offering.

Audit quality, auditor compensation and initial public offering underpricing

We jointly study the impact of audit quality on auditor compensation and initial public offering (IPO) underpricing using a sample of Australian firms going public over the period 1996–2003. We find that quality (Big Four) audit firms earn significantly higher fees than non-Big Four auditors, and audit quality is positively associated with IPO underpricing. The positive relation between audit quality and underpricing is more pronounced for small issues, IPOs underwritten by non-prestigious underwriters, and those that are not backed by venture capitalists. Taken together, our results suggest that quality auditors serve as a signalling device that enhances post-issue market value of equity.

The effects of time pressure and experience on nurses' risk assessment decisions : a signal detection analysis

Background: Time pressure and, occasionally, suboptimal assessment decisions are features of nursing in acute care.

Objectives: To explore the effect of generic and specialist clinical experience on the ability to detect the need to take action in acute care and the impact of time pressure on nurses' decision-making performance.

Methods: Experienced acute care registered nurses (n = 241) were presented with 50 vignettes of real clinical risk assessments. Each vignette contained seven information cues. In response to these vignettes, nurses had to decide whether to intervene or not. The 26 vignettes were time limited and mixed randomly into the 50 cases. Signal detection analysis was used to establish nurses' performance, personal decision thresholds ([beta]), and their abilities (d') to distinguish a signal of clinical risk from the clinical noise of noncontributory information.

Results: Nurses had significantly lower d' and were significantly less likely to indicate intervening under time pressure. For ability-but not threshold-there was a significant interaction of time pressure and years of experience in acute care. With no time pressure, d' increased in line with years of experience. Under time pressure, there was no effect.

Discussion: Time pressure reduced nurses' ability to detect the need and the tendency to report intervening. Thus, there were more failures to report appropriate intervention under time pressure, and the positive effects of clinical experience were negated under time pressure. More and larger scale research on the effect on clinical outcomes of time pressured nursing choices is required.