External monitoring, managerial ownership and form performance in Malaysian capital market: a GMM based panel data approach

This study re-examines whether the structure of share ownership by both directors and institutional ownership provides explanation for firm performances. These relationships are modelled and estimated using GMM based dynamic panel data over a period from 1997 to 2001 with a sample of 100 CI components companies listed on Main Board of Malaysia. The findings provide strong evidence of simultaneity between firm performance and managerial ownership. Although an insignificant relationship between firm performance and institutional ownership is~ observed, the institutional holdings provide strong substitute for managerial ownership with a strong negative relationship between managerial ownership and institutional ownership. This is in line with the managerial incentive hypothesis, which suggests that manager's share in the firm's ownership leads to better performance and the monitoring substitute hypothesis, which suggests that managerial ownership could be effectively replaced by institutional ownership.

Have US external imbalances been determined at home or abroad?

This paper examines the relationship between the United States saving–investment imbalance and long-term real interest rates using a new international borrowing and lending framework. It first establishes how domestic or international factors may primarily influence the US external imbalance and interest rates over any given time before showing that the current account and real long term interest rate share a positive and statistically significant co-integrating relationship based on data from the mid-1980's. The results suggest that while in the pre-Asian financial crisis period (1985:01–1996:04) US external deficits and long term interest rates were mainly determined by domestic factors, external factors beyond the control of domestic policymakers dominated from 1997:01–2004:04.

The impact of external forces on cartel network dynamics : Direct research in the diamond industry

This paper describes the impact of external environmental forces on cartel networks. Using a case research approach, this report examines two leading business networks within one industry, over time. The results suggest that (a) bargaining power of intermediaries increases with the advent of new and powerful actors, (b) process activities that cartels previously controlled are being outsourced to new actors sometimes based in developing countries, (c) other actors are acquiring resources once dominated by a cartel, (d) external forces triggered by the illegal diamond trade, such as international regulatory constraints, no longer favour cartels like De Beers, and (e) over time, these and additional environment factors are forcing actors like De Beers who perform rigid process activities to become more flexible. For example,forces are moving cartels which relied previously on hand-picked intermediaries in highly controlled networks to market their products to adopt a flexible market-focused expansion of operations in retail contexts.

Building capacity for rural health : the role of boundary crossers in coalition maturity for partnerships with external agents

The concept of partnership has entered policy rhetoric and is urged as good practice in a variety of domains including health. Rural communities tend to have fewer resources available for the provision of services such as health than their metropolitan counterparts, and so could be expected to benefit from partnerships with external agencies. Indicators of coalition maturity for working in partnership with external agents in order to build stronger communities are distilled from the group development and partnership research literature and considered in the light of the experiences of the University Department of Rural Health in community engagement. The chapter draws on experiences of two rural community coalitions working to plan and negotiate health service provision. The coalitions were analysed against the indicators. A key indicator of maturity and readiness for working in partnership with external agents is related to the behaviour of ‘boundary crossers’. Boundary crossers are defined as people who move freely between two or more domains and who understand the values, cultures and language, and have the trust, of both. Domains can be within a community or be the community and an external sector. Community health professionals, especially those in senior positions, often act as boundary crossers between the community and broader domains such as regional/state health services or policy, although other community members can fill the role. Other key indicators of coalition maturity for working in partnership with external agents include local leadership that empowers the community, a willingness of community coalitions to take risks and mould opportunities to meet their vision, and a culture of critical reflection and evaluation of past actions.

This chapter analyses the impact of boundary crossing behaviour on community readiness and partnerships with external agents that are intended to build rural community capacity to plan and negotiate health service provision. It is argued that the characteristics and modus operandi of boundary crossers who are members of rural community coalitions affect the level of maturity of the coalitions and community readiness to work with external agents. An understanding of the characteristics and modus operandi of boundary crossers provides valuable insights for external agents in designing their approach to partnerships that build rural community capacity for health.

Internal and external imagery perspective measurement and use in imagining open and closed sport skills: an exploratory study

This study explored the measurement and use of internal and external imagery perspectives during imagery of open and closed sports skills. Participants  (N=41; male=23; female = 18), ages 14 to 28 (M=19.4 yr.; sD=3.1), who were recruited from undergraduate classes in human movement and physical education, and local sporting teams, completed the Imagery Use Questionnaire and then imagined performing eight common sports skills, four open skills and four closed skills, in a random order. Participants provided concurrent verbalisation during their imagery. Immediately after imagining each skill, participants completed a rating scale and retrospective verbalisation of imagery perspective use. Analysis indicated that the questionnaire gave a general imagery perspective preference but was not a strong predictor of imagery used on specific occasions. The three measures of imagery perspective were equivalent in imagining performing particular skills. Participants experienced more internal imagery than external imagery while imagining the eight sports skills, but there was no significant difference between perspective use on the open and closed skills.

A quarter of a century of CBT : the vicissitudes of an idea

In 1983, a competency-based vocational education (CBVE) program began in Croydon Park College of TAFE, South Australia. This was six years before the Australian State Ministers of Vocational Education and Training decreed competency-based training (CBT) to be the national training imperative. Two reports were produced in 1985 and 1987, based on evaluations over a three-year period. 25 years on, the two authors have tracked down and interviewed some of the original staff in the program. This paper traces the vicissitudes of an idea - CBT - as it was conceived in 1982, implemented from 1983, evaluated over a three-year period and as it became transformed over the next generation. What were the features of CBVE then? How did these features alter over time? What contextual factors may account for shifts over this period? To respond to these questions, the paper uses data from 1983-85 and interview data from 2008.

A panel data analysis of the military expenditure-external debt nexus : evidence from six middle eastern countries

While a number of studies examine the nexus between military expenditure and economic growth, little consideration has been give to the effect of military expenditure on external debt. This article examines the impact of military expenditure and income on external debt for a panel of six Middle Eastern countries - Oman, Syria, Yemen, Bahrain, Iran, and Jordan - over the period 1988 to 2002. The Middle East represents an interesting study of the effect of military expenditure on external debt because it has one of the highest rates of arms imports in the world and it is one of the most indebted regions in the world. The study first establishes whether there is a long-run relationship between military expenditure, income, and external debt in the six countries using a panel unit root and panel cointegration framework and then proceeds to estimate the long-run and short-run effects of military expenditure and income on external debt. The study finds that external debt is elastic with respect to military expenditure in the long run and inelastic with respect to military expenditure in the short run. For the panel of six Middle Eastern countries, in the long run a 1% increase in military expenditure results in between a 1.1 % and 1.6% increase in external debt, while a 1% increase in income reduces external debt by between 0.6% and 0.8%, depending on the specific estimator employed. In the short run, a 1% increase in military expenditure increases external debt by 0.2%, while the effect of income on external debt is statistically insignificant.

External public piano examinations in Malaysia : social and symbolic significance

The thesis investigated the social and symbolic significance of acquiring a 'music education' through the taking of piano tuition and external public music examinations. It aimed to discover why the learning of the piano and the certification of musical attainment are so prevalent and revered among Malaysian music students. Its purpose was to unravel the socio-cultural raison d'etre of this approach to music education through the creation of a metatheoretical schema, which is premised upon the theories of symbolic interactionist, George Herbert Mead, music analyst, Heinrich Schenker and social theorist, George Ritzer. Central to the argument in this instance is the symbolic significance associated with the act of playing the piano. The investigation attempted to determine if this 'act' conveyed a symbolic meaning that is peculiar to a specific cultural vista. It further examined the degree to which this practice represented both a validation and a sense of conformity to social norms in the continuity and stability of an expanding middle class society in Malaysia. The Associated Board of the Royal Schools of Music (ABRSM) is the largest of the five main external public music examination boards that operate in Malaysia. Since 1948, over one million candidates have enrolled for ABRSM examinations in Malaysia and a team of approximately thirty ABRSM examiners visit Malaysia for three months every year. The majority of the candidates are pianists. Given such large numbers of piano candidates, one might expect a healthy development of musical talent in the country with aspiring pianists eager to demonstrate their musical prowess. However, this does not seem to be the case. On the contrary, there appears to be a curious lacuna between the growing number of students who enrol for external public music examinations and the seemingly lack of interest in public music making and the honing of general musicianship skills. The thesis hence examined the symbolic meaning of this socio-musicological phenomena.

Beyond the analogon; the "transfer of the referent" : the relationship between the external world experienced through culturally generated perceptual models constructed in the human mind, and the transfer of these images, via visual language, onto referen

Within 20th. Century art, the concept of the ‘normative’ image, as an attribute of things, has been challenged. As a consequence, paintings must now picture the ‘real’ world in other ways, incorporating knowledge and meaning beyond the analogon. Such descriptive representations were revealed as paradigmatic, rather than incontrovertible fact. Dependent on pre-conceived notions of stereotypicality, these descriptive images relied on surface illumination. My thesis explores images of things in the world as culturally inspired and information based. I examine paintings and sculptures of other cultures, such as black African, and other historical periods such as the Medieval, which reveal metonymously the basis for variations in representations of the ‘real’ world. The new enhanced representations which Modern artists created in their work were denigrated as deviant from the absolute ‘normative’ or regarded as distortions for purely mannerist and stylistic reasons. Postmodern research has reassessed them as multiple or extended imagings in whose facture new knowledge and human responses can be incorporated. These new forms of representation can be regarded as theoretical constructs rather than stylised depictions of appearance. In this way referents are transferred through the mind onto objects and vistas in the real world to align with our developed view of the physical world and better our understanding of humanity’s symbiotic relationship with nature.

Information skills and the distance education student : an exploratory study into the approaches of Southern Cross University distance educators to the information needs of external students

This study unites the concepts of self-directed learning and information literacy in the external higher education environment. It asserts that many attempts by librarians at building better working relationships with distance educators have failed because the approaches of distance educators to the information needs of students are not adequately addressed. This exploratory and qualitatively based study examines the approaches of ten distance educators at Southern Cross University (SCU) to the information needs of their external students. It then makes recommendations based on these interviews which aim to improve relationships and co-operation between libraries and distance educators and to promote self-directed learning approaches by external students.

Up to a quarter of the Australian population may have suboptimal health literacy depending upon the measurement tool : results from a population-based survey

The objective of this paper is to measure health literacy in a representative sample of the Australian general population using three health literacy tools; to consider the congruency of results; and to determine whether these assessments were associated with socio-demographic characteristics. Face-to-face interviews were conducted in a stratified random sample of the adult Victorian population identified from the 2004 Australian Government Electoral Roll. Participants were invited to participate by mail and follow-up telephone call. Health literacy was measured using the Rapid Estimate of Adult Literacy in Medicine (REALM), Test of Functional Health Literacy in Adults (TOFHLA) and Newest Vital Sign (NVS). Of 1680 people invited to participate, 89 (5.3%) were ineligible, 750 (44.6%) were not contactable by phone, 531 (32%) refused and 310 (response rate 310/1591, 19.5%) agreed to participate. Compared with the general population, participants were slightly older, better educated and had a higher annual income. The proportion of participants with less than adequate health literacy levels varied: 26.0% (80/308) for the NVS, 10.6% (51 33/310) for the REALM and 6.8% (21/309) for the TOFHLA. A varying but significant proportion of the general population was found to have limited health literacy. The health literacy measures we used, while moderately correlated, appear to measure different but related constructs and use different cut offs to indicate poor health literacy.

Role of internal cognitive processes and external causal attributions in midlife transition

This project was designed to ascertain the defining attributes of midlife that render it distinct from young and older adulthood. Based on the determined salient factors the Midlife Adjustment Scale was developed and the nature of midlife, that of a transitional period, was established. The scale was then used to assess the influence that perceived control and major life events have on one's adjustment during the middle years.

Effects of starting strategy on 5-min cycling time-trial performance

The importance of pacing for middle-distance performance is well recognized, yet previous research has produced equivocal results. Twenty-six trained male cyclists ( V O_2peak 62.8+5.9 ml ·kg^-1 · min^-1· maximal aerobic power output 340+43 W; mean+s) performed three cycling time-trials where the total external work (102.7+13.7 kJ) for each trial was identical to the best of two 5-min habituation trials. Markers of aerobic and anaerobic metabolism were assessed in 12 participants. Power output during the first quarter of the time-trials was fixed to control external mechanical work done (25.7+3.4 kJ) and induce fast-, even-, and slow-starting strategies (60, 75, and 90 s, respectively). Finishing times for the fast-start time-trial (4:53+0:11 min:s) were shorter than for the even-start (5:04+0:11 min:s; 95% CI=5 to 18 s, effect size=0.65, P 50.001) and slow-start time-trial (5:09+0:11 min:s; 95% CI=7 to 24 s, effect size=1.00, P 50.001). Mean VO₂ during the fast-start trials (4.31+0.51 litres · min^-1) was 0.18+0.19 litres · min^-1 (95% CI=0.07 to 0.30 litres · min^-1, effect size=0.94, P =0.003) higher than the even- and 0.18+0.20 litres · min^-1 (95% CI=0.5 to 0.30 litres · min^-1, effect size=0.86, P =0.007) higher than the slow-start time-trial. Oxygen deficit was greatest during the first quarter of the fast-start trial but was lower than the even- and slow-start trials during the second quarter of the trial. Blood lactate and pH were similar between the three trials. In conclusion, performance during a 5-min cycling time-trial was improved with the adoption of a fast- rather than an even- or slow-starting strategy.