Impacts of introduced aquaculture species on markets for native marine aquaculture products : the case of edible oysters in Australia

Economic competition between introduced and native aquaculture species is of interest for industry stakeholders since increased production can affect price formation if both aquaculture species are part of the same market or even substitutes. In this study, we focus on the Australian edible oyster industry, which is dominated by two major species—the native Sydney rock oyster (grown mainly in Queensland and New South Wales) and the non-native Pacific oyster (grown mainly in South Australia and Tasmania). We examine the integration of the Australian oyster market to determine if there exists a single or several markets. Short- and long-run own, cross-price and income flexibilities of demand are estimated for both species using an inverse demand system of equations. The results suggest that the markets for the two species are integrated. We found evidence that the development of the Pacific oyster industry has had an adverse impact on Sydney rock oyster prices. However, our results show that both species are not perfect substitutes. Demand for Sydney rock oysters is relatively inelastic in the long run, yet no long-run relationships can be identified for Pacific oysters, reflecting the developing nature of this sector.

Speaking to the deceased child : Australian Health Professional perspectives in paediatric end-of-life care

Supporting a dying child and family surrounding the child’s death is one of the most significant and challenging roles undertaken by health professionals in paediatric end of life care. An Australian study of parent and health professional constructions of meanings around post mortem care and communication revealed the practice of health professionals speaking to a child after death. This practice conveyed respect for the personhood of the deceased child, recognised the presence of the deceased child, and assisted in involving parents in their child’s post-mortem care. Such findings illuminate an area of end of life care practice that is not often addressed. Talking to a deceased child appeared as a socially symbolic practice that may promote a continued bond between parent and child.

Australian horror movies and the American market

In Australian cinema since the mid-2000s, horror has become a popular and at times commercially viable genre for low-budget and emerging filmmakers targeting international markets. While the annual horror film output of Australia pales in comparison to that of other Anglophone nations like the United States, Great Britain, and Canada, it has produced several significant titles that have performed moderately well at the international box office, from Wolf Creek (Greg McLean, 2005) to Daybreakers (Michael and Peter Spierig, 2009). Yet as part of a broader tradition of Anglophone horror cinema, many Australian horror movies have been heavily influenced by US and to a lesser extent British horror films. Furthermore, Australian horror film production is largely an internationally-oriented sector that relies on its relationships with overseas distributors and often investors. Consequently, the content and style of Australian horror movies have regularly been tailored for international markets. As a direct consequence some filmmakers have sought to trade on the “Australianness” of their product, others have attempted to pass off their films as faux-American, while others still have attempted to develop placeless films effaced of national reference points. This chapter examines local production as part of a broader tradition of Anglophone horror cinema, the influence of US horror movies, and the limitations of the domestic marketplace. The article concludes with an analysis of how the lure of the US market influences Australian filmmakers’ textual strategies.

The Expanding Live Cattle Trade in Northern Australian

The north Australian beef industry is complex and dynamic. It is strategically positioned to access new and existing export markets. To prosper in a global economy, it will require strong processing and live cattle sectors, continued rationalisation of infrastructure, uptake of appropriate technology, and the synergy obtained when industry sectors unite and cooperate to maintain market advantage. Strategies to address food safety, animal welfare, the environment and other consumer concerns must be delivered. Strategic alliances with quality assurance systems will develop. These alliances will be based on economies of scale and on vertical cooperation, rather than vertical integration. Industry sectors will need to increase their contribution to Research, Development and Extension. These contributions need to be global in outlook. Industry sectors should also be aware that change (positive or negative) in one sector will impact on other sectors. Feedback along the food chain is essential to maximise productivity and market share.

Introducing a new limit states design concept to railway concrete sleepers: An Australian experience

Over 50 years, a large number of research and development projects with respect to the use of cementitious and concrete materials for manufacturing railway sleepers have been significantly progressed in Australia, Europe, and Japan (Wang, 1996; Murray and Cai, 1998; Wakui and Okuda, 1999; Esveld, 2001; Freudenstein and Haban, 2006; Remennikov and Kaewunruen, 2008). Traditional sleeper materials are timber, steel, and concrete. Cost-efficiency, superior durability, and improved track stability are the main factors toward significant adoption of concrete materials for railway sleepers. The sleepers in a track system, as shown in Figure 1, are subjected to harsh and aggressive external forces and natural environments across a distance. Many systemic problems and technical issues associated with concrete sleepers have been tackled over decades. These include pre-mature failures of sleepers, concrete cancer or ettringite, abrasion of railseats and soffits, impact damages by rail machinery, bond-slip damage, longitudinal and lateral instability of track system, dimensional instability of sleepers, nuisance noise and vibration, and so on (Pfeil, 1997; Gustavson, 2002; Kaewunruen and Remennikov, 2008a,b, 2013). These issues are, however, becoming an emerging risk for many countries (in North and South Americas, Asia, and the Middle East) that have recently installed large volumes of concrete sleepers in their railway networks (Federal Railroad Administration, 2013). As a result, it is vital to researchers and practitioners to critically review and learn from previous experience and lessons around the world.

Risk management for mycotoxin contamination of Australian maize

Recent incidents of mycotoxin contamination (particularly aflatoxins and fumonisins) have demonstrated a need for an industry-wide management system to ensure Australian maize meets the requirements of all domestic users and export markets. Results of recent surveys are presented, demonstrating overall good conformity with nationally accepted industry marketing standards but with occasional samples exceeding these levels. This paper describes mycotoxin-related hazards inherent in the Australian maize production system and a methodology combining good agricultural practices and the hazard analysis critical control point framework to manage risk.

Destination image: identifying baseline perceptions of Brazil, Argentina and Chile in the nascent Australian long haul travel market

While the popularity of destination image research has increased exponentially in the literature, there has been relatively little published about perceptions held by international consumers of destinations in South America. The purpose of this paper is to report the findings of a research project that aimed to identify the baseline market perceptions of Brazil, Argentina and Chile amongst Australian residents, at the time of the emergence of this long haul market. Of interest was the extent to which Australians differentiate the three distinct countries versus perceiving the continent as a gestalt. These baseline perceptions enable the effectiveness of future marketing communications in Australia by the three national tourism offices to be monitored over time. Importance-Performance Analysis (IPA) is used as a practical analytical tool to guide decision makers. In terms of operationalising destination image, a key research finding was the very high ratio or participants using the ‘Don’t know’ (DK) option for each destination performance scale item. This finding has practical implications for the destination marketers, as well as for researchers engaged in destination image research in long haul and/or emerging markets.

Value-adding Australian sardines: Factors affecting rates of deterioration in sardine (Sardinops sagax) quality during post-harvest handling

Deficiencies in sardine post-harvest handling methods were seen as major impediments to development of a value-adding sector supplying Australian bait and human consumption markets. Factors affecting sardine deterioration rates in the immediate post-harvest period were investigated and recommendations made for alternative handling procedures to optimise sardine quality. Net to factory sampling showed that post-mortem autolysis was probably caused by digestive enzyme activity contributing to the observed temporal increase in sardine Quality Index. Belly burst was not an issue. Sardine quality could be maintained by reducing tank loading, and rapid temperature reduction using dedicated, on-board value-adding tanks. Fish should be iced between the jetty and the processing factory, and transport bins chilled using an efficient cooling medium such as flow ice.

The intrinsic plasticity of farm businesses and their resilience to change. An Australian example.

This paper examines the idea that plasticity in farm management introduces resilience to change and allows farm businesses to perform when operating in highly variable environments. We also argue for the need to develop and apply more integrative assessments of farm performance that combine the use of modelling tools with deliberative processes involving farmers and researchers in a co-learning process, to more effectively identify and implement more productive and resilient farm businesses. In a plastic farming system, farm management is highly contingent on environmental conditions. In plastic farming systems farm managers constantly vary crops and inputs based on the availability of limited and variable resources (e.g. land, water, finances, labour, machinery, etc.), and signals from its operating environment (e.g. climate, markets), with the objective of maximising a number of, often competing, objectives (e.g. maximise profits, minimise risks, etc.). In contrast in more rigid farming systems farm management is more calendar driven and relatively fixed sequences of crops are regularly followed over time and across the farm. Here we describe the application of a whole farm simulation model to (i) compare, in silico, the sensitivity of two farming systems designs of contrasting levels of plasticity, operating in two contrasting environments, when exposed to a stressor in the form of climate change scenarios;(ii) investigate the presence of interactions and feedbacks at the field and farm levels capable of modifying the intensity and direction of the responses to climate signals; and (iii) discuss the need for the development and application of more integrative assessments in the analysis of impacts and adaptation options to climate change. In both environments, the more plastic farm management strategy had higher median profits and was less risky for the baseline and less intensive climate change scenarios (2030). However, for the more severe climate change scenarios (2070), the benefit of plastic strategies tended to disappear. These results suggest that, to a point, farming systems having higher levels of plasticity would enable farmers to more effectively respond to climate shifts, thus ensuring the economic viability of the farm business. Though, as the intensity of the stress increases (e.g. 2070 climate change scenario) more significant changes in the farming system might be required to adapt. We also found that in the case studies analysed here, most of the impacts from the climate change scenarios on farm profit and economic risk originated from important reductions in cropping intensity and changes in crop mix rather than from changes in the yields of individual crops. Changes in cropping intensity and crop mix were explained by the combination of reductions in the number of sowing opportunities around critical times in the cropping calendar, and to operational constraints at the whole farm level i.e. limited work capacity in an environment having fewer and more concentrated sowing opportunities. This indicates that indirect impacts from shifts in climate on farm operations can be more important than direct impacts from climate on the yield of individual crops. The results suggest that due to the complexity of farm businesses, impact assessments and opportunities for adaptation to climate change might also need to be pursued at higher integration levels than the crop or the field. We conclude that plasticity can be a desirable characteristic in farming systems operating in highly variable environments, and that integrated whole farm systems analyses of impacts and adaptation to climate change are required to identify important interactions between farm management decision rules, availability of resources, and farmer's preference.

Lexicon for the Sensory Description of Australian Native Plant Foods and Ingredients

Understanding and describing Australian flavor has proved to be a challenge for marketers of native foods because of the diversity of unique flavor signatures exhibited. Descriptive analysis techniques were applied, using a panel of 11 experienced judges, to define and articulate the sensory properties of 18 key commercial Australian native plant foods and ingredients including fruits, herbs and spices. Quantitative descriptive data were transformed into concise and accurate verbal descriptions for each of the species. The sensory language developed during the vocabulary development panel sessions was combined, categorized and ordered to develop a sensory lexicon specific for the genre. The language developed to describe the foods and ingredients was diverse and distinctly Australian including aromas such as musk, rosella, citrus and spiced tea to eucalypt, bush scrub, fresh beetroot and wheat biscuit. Practical Applications This work provides a clear, useful means of characterizing and accurately describing the flavors of Australian native plant foods and ingredients. This information has been communicated to the native food industry, chefs, formulators, food technologists and flavor experts, and provides knowledge that will assist the wider food industry to successfully develop flavor blends and produce food products from native food ingredients. It is anticipated that extension of this information to both the local and international food markets will stimulate a renewed interest in Australian native ingredients and open new market opportunities for the industry. The data developed by this research have also formed the basis of quality control targets for emerging native foods and ingredients.

Astaxanthin profiles and corresponding colour properties in Australian farmed black tiger prawn (Penaeus monodon) during frozen storage

The colour of commercial cooked black tiger prawns (Penaeus monodon) is a key quality requirement to ensure product is not rejected in wholesale markets. The colour, due to the carotenoid astaxanthin, can be impacted by frozen storage, but changes in colour or astaxanthin profile, during frozen storage, have not been studied in detail. Subsequently in this study, the aims were to define the astaxanthin (as cis, trans, mono-ester and di-ester forms) content, together with the colour properties, in both pleopods (legs) and abdominal segments. Changes in astaxanthin content and colour properties were further determined during frozen storage (−20°C). Total astaxanthin content was seen to decrease in all samples over time, with the rate of degradation being significantly greater (P < 0.05) in pleopods than abdomen. In both pleopods and abdomen, rate of degradation of esterified forms was significantly greater (P < 0.05) than non-esterified forms. Hue angle (increase), a* value (decrease) and L value (increase) were all seen to significantly change (P < 0.05) during storage, with changes being more prevalent in the pleopods. The pleopods are the key indicator of astaxanthin and colour loss in cooked black tiger prawns and preservation strategies are required to preserve astaxanthin and colour during frozen storage.

Essays on the Linkages Between Financial Markets, and Risk Asymmetries (summary section only)

During the last few decades there have been far going financial market deregulation, technical development, advances in information technology, and standardization of legislation between countries. As a result, one can expect that financial markets have grown more interlinked. The proper understanding of the cross-market linkages has implications for investment and risk management, diversification, asset pricing, and regulation. The purpose of this research is to assess the degree of price, return, and volatility linkages between both geographic markets and asset categories within one country, Finland. Another purpose is to analyze risk asymmetries, i.e., the tendency of equity risk to be higher after negative events than after positive events of equal magnitude. The analysis is conducted both with respect to total risk (volatility), and systematic risk (beta). The thesis consists of an introductory part and four essays. The first essay studies to which extent international stock prices comove. The degree of comovements is low, indicating benefits from international diversification. The second essay examines the degree to which the Finnish market is linked to the “world market”. The total risk is divided into two parts, one relating to world factors, and one relating to domestic factors. The impact of world factors has increased over time. After 1993, when foreign investors were allowed to freely invest in Finnish assets, the risk level has been higher than previously. This was also the case during the economic recession in the beginning of the 1990’s. The third essay focuses on the stock, bond, and money markets in Finland. According to a trading model, the degree of volatility linkages should be strong. However, the results contradict this. The linkages are surprisingly weak, even negative. The stock market is the most independent, while the money market is affected by events on the two other markets. The fourth essay concentrates on volatility and beta asymmetries. Contrary to many international studies there are only few cases of risk asymmetries. When they occur, they tend to be driven by the market-wide component rather than the portfolio specific element.

On the Importance of Mutual Fund Families in Emerging Markets

This study contributes to the mutual fund literature by looking at performance persistence on a fund family level, allowing for individual equity, bond and balanced funds to be included under single family umbrellas. The study is conducted on the emerging Finnish mutual fund market, an environment in which the importance of superior fund family teams is likely to be accentuated. Using both non–parametric and parametric tests we find robust evidence of performance persistence for the fund families. Persistence is particularly strong in the first half of the investigation period, which highlights the importance of fund families at early stages of market development.