Much ado about nothing? The surprising persistence of nascent ventures through the global financial crisis

Using the Global Financial Crisis as a natural experiment, we investigate how a major macro-economic crisis affects nascent (i.e., pre-operational) ventures. We hypothesize adverse effects on behaviors, behavioral plans, and expectations for the future, and that these effects would be more pronounced in ventures that are more innovative and/or more relying on loan funding. Overall, we find very limited support for our hypotheses. Our conclusion is that the main reason for the surprising absence of detrimental effects is that a large majority of nascent ventures are mostly affected by a relatively narrow, immediate task environment rather than directly by the fluctuations of the macro-economy.

Just do it : action's central role in venture creation

This study examined the effect that venture creation action has on the outcomes of nascent entrepreneurship. A theoretical model was developed which proposes action as a fundamental mechanism in venture creation. Thus, action should rightly be considered as a means rather than an end in itself. In this respect, action transmits the effects of venture resource endowments on to venture creation outcomes. This conceptual model was empirically supported in a random sample of nascent ventures. Ventures with higher levels of human or social capital tend to be more active in venture creation. In turn, more active venture attempts are more likely to achieve improved results.

A sequence analytic model of entrepreneurial discovery and exploitation process

This study examined the effect that temporal order within the entrepreneurial discovery exploitation process has on the outcomes of venture creation. Consistent with sequential theories of discovery-exploitation, the general flow of venture creation was found to be directed from discovery toward exploitation in a random sample of nascent ventures. However, venture creation attempts which specifically follow this sequence derive poor outcomes. Moreover, simultaneous discovery-exploitation was the most prevalent temporal order observed, and venture attempts that proceed in this manner more likely become operational. These findings suggest that venture creation is a multi-scale phenomenon that is at once directional in time, and simultaneously driven by symbiotically coupled discovery and exploitation.

Performance evaluation of eight contemporary passive solar homes in subtropical Australia

Subtropical south-east Queensland’s expanding population is expected to lead to a demand for an additional 754,000 dwellings by 2031. A legacy of poor housing design, minimal building regulations, an absence of building performance evaluation and various social and market factors has lead to a high and growing penetration of, and reliance on, air conditioners to provide comfort in this relatively benign climate. This reliance impacts on policy goals to adapt to and mitigate against global warming, electricity infrastructure investment and household resilience. Based on the concept of bioclimatic design, this field study scrutinizes eight non-air conditioned homes to develop a deeper understanding of the role of contemporary passive solar architecture in the delivery of thermally comfortable and resilient homes in the subtropics. These homes were found to provide inhabitants with an acceptable level of thermal comfort (18-28oC) for 77 – 97% of the year. Family expectations and experiences of comfort, and the various design strategies utilized were compared against the measured performance outcomes. This comparison revealed issues that limited quantification and implementation of design intent and highlighted factors that constrained system optimisation.

Assessing financial reporting comparability across institutional settings : the case of pension accounting

The drive for comparability of financial information is to enable users to distinguish similarities and differences in economic activities for an entity over time and between entities so that their resource allocation decisions are facilitated. With the increased globalisation of economic activities, the enhanced international comparability of financial statements is often used as an argument to advance the convergence of local accounting standards to international financial reporting standards (IFRS). Differences in the underlying economic substance of transactions between jurisdictions plus accounting standards allowing alternative treatments may render this expectation of increased comparability unrealistic. Motivated by observations that, as a construct, comparability is under-researched and not well understood, we develop a comparability framework that distinguishes between four types of comparability. In applying this comparability framework to pension accounting in the Australian and USA contexts, we highlight a dilemma: while regulators seek to increase the likelihood that similar events are accounted for similarly, an unintended consequence may be that preparers are forced to apply similar accounting treatment to events that are, in substance, different.

Temperature dependent electrical resistivity in expoxy : multiwall carbon nanotube nanocomposites

Thin films of expoxy nanocomposites modified by multiwall carbon nanotubes (MWCNTs) were prepared by shear mixing and spin casting. The electrical behaviour and its dependence with temperature between 243 and 353 degrees Kelvin were characterized by measuring the direct current (DC) conductivity. Depending on the fabrication process, both linear and non-linear relationships between conductivity and temperature were observed. In addition, the thermal history also played a role in dictating the conductivity. The implications of these observations for potential application of these files as strain sensors are discussed.

Hydrothermal synthesis of single crystallin strontium titanate nanocubes

Strontium titanate nanocubes with an average edge length of 150mm have been successfully synthesized from a simple hydrothermal system. Characterization techniques such as X-ray powder diffraction analysis, scanning electron microscopy and energy-dispersive analysis of X-rays were used to investigate the products. The results showed that as-prepared powders are pure SrTiO3 with cubic shape, which consists with the growth habit of its intrinsic crystal structure. These uniform nanocubes with high crystallinity will exhibit superior physical properties in the practical applications. Furthermore, during the experimental process, it has been found that the dilute acid washing process is very important to obtain high pure SrTiO3.

Communicating with the coroner : how religion, culture, and family concerns may influence autopsy decision making

Based on coronial data gathered in the state of Queensland in 2004, this article reviews how a change in legislation may have impacted autopsy decision making by coroners. More specifically, the authors evaluated whether the requirement that coronial autopsy orders specify the level of invasiveness of an autopsy to be performed by a pathologist was affected by the further requirement that coroners take into consideration a known religion, culture, and/or raised family concern before making such an order. Preliminary data reveal that the cultural status of the deceased did not affect coronial autopsy decision making. However, a known religion with a proscription against autopsy and a raised family concern appeared to be taken into account by coroners when making autopsy decisions and tended to decrease the invasiveness of the autopsy ordered from a full internal examination to either a partial internal examination or an external-only examination of the body. The impact of these findings is briefly discussed.

Heat reject recovery in solar air conditioning

This study demonstrates the possibility of using an absorption chiller to produce chilled water for air conditioning, and at the same time recover the rejected heat producing domestic hot water. The absorption chiller considered for this application has been sized to suit a standard household and uses a solution of ammonia and water running on hot water at a temperature ranging from 80 - 120°C produced by thermal solar panels. The system consists of five main components: generator, rectifier, condenser, evaporator and absorber, and is divided in two sections at two different pressures. The section at higher pressure includes the generator, rectifier and condenser whereas the section at lower pressure includes the evaporator and the absorber. Heat in this type of system is usually rejected to the environment from the condenser, rectifier and absorber through a cooling tower or air cooler exchanger. In this paper we describe how to recover this heat to create domestic hot water by providing a quantitative evaluation of the amount of energy recovered by the proposed system, if used in the Australian region.