Convergence among the sub-markets in Australian regional building and construction sector

Studies on market convergence are well considered in the literature. However, the majority of the previous research focused on housing markets and few studies have concentrated on construction markets. Owing to a simultaneously dramatic increase in the construction prices of the sub-markets in the building construction sector in Australia, this paper aims to identify the convergence among these markets, involving house construction market, other-residential building construction market, and non-residential building construction market. To achieve it the Granger causality test and generalized response function depending on the vector error correction model with the quarterly data of Australia’s eight states from 1998 to 2010 will be applied. Based upon the econometric tests, the price diffusion patterns among these construction markets have been identified. Research on the convergences of construction markets not only helps construction firms perform well in business operations and arbitrage activities, but also provides policy makers with useful information for enacting effective construction policies for national perspectives and approaches to infrastructure planning.

Three essays on financial markets

This thesis examines stock price behaviour on the New York Stock Exchange.  The thesis develops modelsto show that firms on the stock exchange are different with respect to volatility and changes in calender dates.  Moreover, the thesis shows that firm returns are affected differently by oil prices.

Cross-cultural research issues in developing international tourist markets for cultural events

Cross-cultural issues and research are fundamental to much tourism marketing and especially to developing international tourist markets for cultural events and festivals. With increasing globalization aided by developments in travel and information technology, growing international tourist markets present potentially significant and increasing market opportunities for cultural events throughout the world. In an increasingly competitive marketplace, in order to attract tourist markets, events and festivals need an understanding of these markets and the relevant marketing theories, practices, and strategies. Understanding tourists’ motivation and behavior is essential to identifying attractive tourist market segments in the first instance and then to developing appropriate marketing strategies to attract these segments. Within this environment, the importance of cross-cultural issues and research to tourism marketing and the development of tourist markets are apparent, and yet cross-cultural tourism research to date has been limited. Cross-cultural tourism research in relation to cultural events is even more limited. Cross-cultural tourism marketing research also presents some unique challenges, numerous environmental and methodological problems, and associated costs. These numerous problems, challenges, and costs may in their own right prevent cross-cultural issues and problems from being investigated. Some of these problems can also make the results of some of the existing crosscultural research suspect. Such problems could well account for the limited amount of cross-cultural tourism marketing research that has been undertaken, even though the potential benefits from such research can be great. This article examines the use and application of cross-cultural tourism research by cultural events. It also outlines some of the unique challenges, issues, and problems that need to be addressed in future crosscultural tourism marketing research to improve its application, use, and findings, and ensure the benefits outweigh the costs.

Simulating crowd phenomena in African markets

Crowd simulation is an important feature in the computer graphics field. Typical implementations simulate battle scenes, emergency situations, safety issues or add content to virtual environments. The problem stated in this paper falls in the last category. We present a crowd simulation behavioural model which allows us to simulate identified phenomena in popular local African markets such as narrow street flows and crowd formation around street performances. We propose a three-tier architecture model enable to produce intentions, perform path planning and control movement. We demonstrate that this approach produces the desired behaviour associated with crowds in an African market, which includes navigation, flow formation and circle creation.

What drives stock markets over short horizons? Evidence from emerging markets

The goal of this paper is to examine the importance of permanent and transitory shocks in explaining variations in stock prices for Singapore, Taiwan, and South Korea using a trend-cycle decomposition technique. This study is novel in that in measuring the impact of shocks we not only impose common trend restrictions but also common cycle restrictions. We later undertake a post-sample forecasting exercise to confirm the efficiency gains from imposing common cycle restrictions. We find that over short horizons, transitory shocks are the dominant source of variations in stock prices for South Korea, while permanent shocks explain the bulk of the variations in stock price of Singapore and Taiwan.

Smart RFID reader protocol for malware detection

Radio frequency identification (RFID) is a remote identification technique promises to revolutionize the way a specific object use to identify in our industry. However, large scale implementation of RFID sought for protection, against Malware threat, information privacy and un-traceability, for low cost RFID tag. In this paper, we propose a framework to provide privacy for tag data and to provide protection for RFID system from malware. In the proposed framework, malware infected tag is detected by analysing individual component of the RFID tag. It uses sanitization technique for analysing individual component. Here authentication based shared unique parameters is used as a method to protect privacy. This authentication protocol will be capable of handling forward and backward security and identifying rogue reader better than existing protocols. Using this framework, the RFID system will be protected from malware and the privacy of the tag will be ensured as well.