Health system reform and social capital

Jim Hyde suggests that the research on building the capacity of communities and the accumulation of social capital shows that how we organize our health systems - in both micro and macro contexts - is important. He argues that collaboration, flexibility and community participation must become central in health structures.

The first stage of developing the adolescent friendship social capital scale

 The purpose of the study was to generate the candidate items for the Adolescent Friendship Social Capital Scale. Both inductive and deductive approaches were used to generate the scale items. Halpern's conceptual map of social capital served as the theoretical basis of this scale, and guided the development of items. Semi-structured interviews with adolescents in Sydney, Melbourne and Beijing generated the initial pool of scale items. Twenty-six items were generated for the Adolescent Friendship Social Capital Scale. The items are organised in four theoretical constructs: Bonding Networks, Bridging Norms, Bridging Sanctions, and Linking Networks. Each item is a short statement followed by a five-point Likert scale anchored by 1= "Strongly disagree" and 5= "Strongly agree". The scale has several advantages over previous measures of adolescent friendship networks and friendship social capital. The scale has a strong and clear theoretical structure, the scale items demonstrate initial construct and content validity, and the format of the scale enables the collection of continuous data. However, in order to ensure the validity and reliability of the scale, another two stages of research need to be conducted in the future: scale development and scale evaluation.

Making Connections in Geelong : migrants, social capital and growing regional cities

Migration has been increasingly used to compensate for demographic trends and skill shortages in developed countries. This has resulted in policies to encourage migration to regional areas in order to relieve pressures on liveability and infrastructure in big cities. Like many other regional cities in Victoria, Geelong actively encourages migrants from overseas, from Melbourne and from other parts of rural and regional Australia, by promoting workforce participation, and enhancing lifestyles to attract and retain a growing population. A number of countries including Australia, Canada, Italy and Spain have policies to encourage immigration to locations other than large urban centres to stimulate regional economic development and to ensure immigrants fill skill shortages in regional areas. However, migrants do not always stay long in the regional locations where they initially settle, and new migrants are needed to replace their skills. Given the Australian and Victorian government policy imperatives of encouraging regional migration there is a need to understand how migrants and their families make the social connections that contribute to wellbeing and their retention in regional areas such as Geelong. This paper emerges from a research project on this challenge at Deakin University, in Geelong It discusses some of the issues associated with regional migration and describes how a sound, theoretically informed understanding of social capital can assist employers, governments and community groups (formal and informal) to effectively assist migrants to make social connections and therefore remain in regional cities.

Sectoral analysis on capital structure determinants among the Malaysian listed firms

This study highlights the sensitivity of capital structure determinants in each sector within the ensembles of Malaysia Listed Companies. Based on pooled OLS, fixed effect and Generalized Method of Moments analysis, the findings revealed that capital structure determinants vary across sectors due to its nature or characteristics.

The direct costs of raising external equity capital for US REIT IPOs

Purpose – The purpose of this paper is to investigate the total direct costs of raising external equity capital for US real estate investment trust (REIT) initial public offerings (IPOs).

Design/methodology/approach – The study provides recent evidence on total direct costs for a comprehensive dataset of 125 US REIT IPOs from 1996 until June 2010. A multivariate OLS regression is performed to determine significant factors influencing the level of total direct costs and also underwriting fees and non-underwriting direct expenses.

Findings – The study finds economies of scale in total direct costs, underwriting fees and non-underwriting expenses. The equally (value) weighted average total direct costs are 8.33 percent (7.52 percent), consisting of 6.49 percent (6.30 percent) underwriting fees and 1.87 percent (1.22 percent) non-underwriting direct expenses. The study finds a declining trend of total direct costs for post 2000 IPOs which is attributed to the declining trend in both underwriting fees and non-underwriting direct expenses. Offer size is a critical determinant for both total direct costs and their individual components and inversely affects these costs. The total direct costs are found significantly higher for equity REITs than for mortgage REITs and are also significantly higher for offers listed in New York Stock Exchange (NYSE). Underwriting fees appear to be negatively influenced by the offer price, the number of representative underwriters involved in the issue, industry return volatility and the number of potential specific risk factors but positively influenced by prior quarter industry dividend yield and ownership limit identified in the prospectus. After controlling for time trend, the paper finds REIT IPOs incur higher non-underwriting direct expenses in response to higher industry return volatility prior to the offer.

Originality/value – This paper adds to the international REIT IPO literature by exploring a number of new influencing factors behind total direct costs, underwriting fees and non-underwriting direct expenses. The study includes data during the recent GFC period.

Hope for resurrecting a functionally extinct parrot or squandered social capital? Landholder attitudes towards the Orange-bellied Parrot (Neophema chrysogaster) in Victoria, Australia

In early 2010, after 27 years of recovery effort, the orange-bellied parrot (OBP; Neophema chrysogaster) was expected to be extinct in the wild within a few years. Shortly before the imminent wild extinction became evident, we surveyed landholders (114 responses of 783 surveys delivered) in part of the main non-breeding area, according to three classes of modelled habitat suitability ('high', 'medium', and 'low'). Predictions of the habitat models appear to correlate with landholder perceptions of the presence of OBP habitat on private land, thus the models appear a tractable way to identify key stakeholders worthy of priority consultation in relation to habitat works. Landholders were sympathetic to wetlands and birds, including OBPs (89.4% were aware of OBPs). Most indicated that they would be upset if the OBP went extinct and agreed that critical habitat should be protected; 80.7% were prepared to consider changes to the way they managed their land to benefit the species, and sought more information on how they could do so (64.0%). This study suggests that the habitat model usefully identified key stakeholders and the OBP enjoyed high awareness, concern, and engagement among many stakeholders, shortly before the species was considered functionally extinct. The maintenance of landholder support is likely to be critical if future attempts are made to reintroduce the species to the wild.

Social capital framework in the adoption of e-learning

This is a study of the influence of social and cultural factors on the adoption of e-­learning in higher education in Malaysia, Indonesia, Turkey, Singapore and Australia. Particular attention in each case was given to factors relating to social capital, attitudes and patterns of behavior in leadership, entrepreneurialism, and teaching and to broader sets of attitudes that shape general outlook. A case study approach was chosen in order to enable a richer and more finely grained analysis of the issues. The case studies are based on semi-­structured interviews and observations conducted over several years. This research shows that previously known factors that affect the adoption of e-­learning in higher education, namely, policy, guidelines, paradigm shifts and pedagogical change, are also significant in the contexts of each of the case studies in this research. However, this research shows that the adoption and uptake of e-­learning technologies is also strongly shaped by cultural and social factors but not in ways that might first have been expected. It is not so much that there are specific cultural and social factors relating to specific e-­learning technologies, but rather, that the degree of uptake of these technologies depends on teachers being encouraged, guided and assisted to innovate and adopt new technology. This can only occur when there is sufficient social capital, mediated through appropriate social networks, to build trust, overcome objections and anxieties, and generally motivate staff to engage in challenging, time-­consuming initiatives in e-­learning that generally do not promise immediate rewards.

Certain culture-­based issues emerged as important. These included staff mentoring, clustering through ‘bamboo networking’, trust-­building and overcoming fear of ‘losing face’ (kiasu), facilitating women to take the initiative and lead, developing sensitivity to cultural differences, encouraging entrepreneurialism and rewarding pioneering endeavours, all of which were present in varying degrees across all five case studies. There were subtle variations on a central theme, which was clearly that of the impact of social capital as a driver. It was social capital played out through personal relationships and social networks that most strongly influenced individual teachers to be sufficiently motivated to add to an already busy schedule by taking on the additional burdens of pioneering e-­learning technology and it was those social relationships that provided guidance and ongoing encouragement. As a consequence of these findings, this study offers a social capital model of e-­learning adoption, which suggests that the adoption and uptake of e-­learning technologies is strongly shaped by cultural and social factors.

Tertius tactics : 'mediated social capital' as a resource of power for traditional commercial news media

This essay reconceptualizes “social capital” as it relates to scholarship regarding the traditional news media. Much academic attention links the news media to Robert Putnam's view which focuses on social capital as enhancing “civic pride” and collective/community involvement. I suggest Putnam's perspective is often adopted without wider exploration of what the theory may offer the future of the commercial news media in western societies. This essay proposes the term “mediated social capital” may be a more suitable lens through which to consider this theory, taking a cue from Pierre Bourdieu who views social capital as a resource of power that may be utilized to maintain or build a position of advantage.

Costs of raising equity capital for U.S. REITs

The direct and indirect costs of raising equity capital by U.S. REITs through IPOs average 8.43% and 3.07%, respectively while these costs through SEOs average 4.63% and 1.18%, respectively. Ownership limit and the number of adverse risk factors identified in the IPO prospectus and underwriting syndicate structure determine such costs.

From tax expenditures to rebates: an 'output based equity' approach for Australia's retirement policies

Australia's retirement policies are geared to shifting reliance from the Age Pension to private superannuation, predominately via the use of tax expenditures. This article examines tax expenditures in this area and concludes that inequities and inefficiencies abound. Reform is required. It is argued that the functions of revenue collection and social support should be separated, and the use of tax expenditures in superannuation should be discarded. A rebate system1 or a spending initiative, is proposed. This 'output based equity' approach will address fairness and equity issues at the time of retirement - when full benefits are received.

Reviving the role of regulators in Bangladesh capital market

The capital market is visualised as a tool for economic development through mobilisation of scattered resources and their allocation to appropriate areas. The liquidity, solvency and efficiency of the economic system of a country can be better accomplished by capital market, when the banks and financial institutions of the country are reluctant to provide long-term and medium term resources for industrialisation and privatisation.

Banks have been traditionally major sources of all types of credits particularly industrial credits. Not only the banks these days are restricted to finance long-term credits due to short-term nature of the deposit- base of these banks, but also are struggling to overcome their liquidity problems. On the other hand, the development of financial institutions, the traditional suppliers of the long-term funds for private industry, is lying dormant due to the problems of profitability, liquidity and solvency of these institutions. Under this circumstances, the capital market beckons as the only major source of finance for industrialisation and privatisation. But the existing state of the capital market is hardly in a position to play as the mobiliser of resources for economic development.

Therefore, the country`s capital market needs structural change as well as proper regulation which are likely to improve the confidence of investors-both local and foreign and to boost the functions of capital market as well. The major regulators in Bangladesh capital market are Securities and Exchange Commission (SEC), Stock Exchanges, Registrar of Joint Stock Companies (RJSC) and ICB. In addition, the government has recently given permission to set up merchant banks to provide their support towards the growth, development and consolidation of capital market.