The Impact of Contract Type on Service Provider Information Requirements

This paper is concerned with the role of information in the servitization of manufacturing which has led to “the innovation of an organisation’s capabilities and processes as equipment manufacturers seek to offer services around their products” (Neely 2009, Baines et al 2009). This evolution has resulted in an information requirement (IR) shift as companies move from discrete provision of equipment and spare parts to long-term service contracts guaranteeing prescribed performance levels. Organisations providing such services depend on a very high level of availability and quality of information throughout the service life-cycle (Menor et al 2002). This work focuses on whether, for a proposed contract based around complex equipment, the Information System is capable of providing information at an acceptable quality and requires the IRs to be examined in a formal manner. We apply a service information framework (Cuthbert et al 2008, McFarlane & Cuthbert 2012) to methodically assess IRs for different contract types to understand the information gap between them. Results from case examples indicate that this gap includes information required for the different contract types and a set of contract-specific IRs. Furthermore, the control, ownership and use of information differs across contract types as the boundary of operation and responsibility changes.

Efficient Prices at Any Cost: Does Algorithmic Trading Deter Information Acquisition?

I demonstrate a powerful tension between acquiring information and incorporating it into asset prices, the two core elements of price discovery. As a salient case, I focus on the transformative rise of algorithmic trading (AT) typically associated with improved price efficiency. Using a measure of the relative information content of prices and a comprehensive panel of 37,325 stock-quarters of SEC market data, I establish instead that algorithmic trading strongly decreases the net amount of information in prices. The increase in price distortions associated with the AT “information gap” is roughly $42.6 billion/year for U.S. common stocks around earnings announcement events alone. Information losses are concentrated among stocks with high shares of algorithmic liquidity takers relative to algorithmic liquidity makers, suggesting that aggressive AT powerfully deters fundamental information acquisition despite its importance for translating available information into prices.

Bronchiectasis exacerbation study on azithromycin and amoxycillin-clavulanate for respiratory exacerbations in children (BEST-2) : study protocol for a randomized controlled trial

Background Bronchiectasis unrelated to cystic fibrosis (CF) is being increasingly recognized in children and adults globally, both in resource-poor and in affluent countries. However, high-quality evidence to inform management is scarce. Oral amoxycillin-clavulanate is often the first antibiotic chosen for non-severe respiratory exacerbations, because of the antibiotic-susceptibility patterns detected in the respiratory pathogens commonly associated with bronchiectasis. Azithromycin has a prolonged half-life, and with its unique anti-bacterial, immunomodulatory, and anti-inflammatory properties, presents an attractive alternative. Our proposed study will test the hypothesis that oral azithromycin is non-inferior (within a 20% margin) to amoxycillin-clavulanate at achieving resolution of non-severe respiratory exacerbations by day 21 of treatment in children with non-CF bronchiectasis. Methods This will be a multicenter, randomized, double-blind, double-dummy, placebo-controlled, parallel group trial involving six Australian and New Zealand centers. In total, 170 eligible children will be stratified by site and bronchiectasis etiology, and randomized (allocation concealed) to receive: 1) azithromycin (5 mg/kg daily) with placebo amoxycillin-clavulanate or 2) amoxycillin-clavulanate (22.5 mg/kg twice daily) with placebo azithromycin for 21 days as treatment for non-severe respiratory exacerbations. Clinical data and a parent-proxy cough-specific quality of life (PC-QOL) score will be obtained at baseline, at the start and resolution of exacerbations, and on day 21. In most children, blood and deep-nasal swabs will also be collected at the same time points. The primary outcome is the proportion of children whose exacerbations have resolved at day 21. The main secondary outcome is the PC-QOL score. Other outcomes are: time to next exacerbation; requirement for hospitalization; duration of exacerbation, and spirometry data. Descriptive viral and bacteriological data from nasal samples and blood inflammatory markers will be reported where available. Discussion Currently, there are no published randomized controlled trials (RCT) to underpin effective, evidence-based management of acute respiratory exacerbations in children with non-CF bronchiectasis. To help address this information gap, we are conducting two RCTs. The first (bronchiectasis exacerbation study; BEST-1) evaluates the efficacy of azithromycin and amoxycillin-clavulanate compared with placebo, and the second RCT (BEST-2), described here, is designed to determine if azithromycin is non-inferior to amoxycillin-clavulanate in achieving symptom resolution by day 21 of treatment in children with acute respiratory exacerbations. Trial registration Australia and New Zealand Clinical Trials Register (ANZCTR) number ACTRN12612000010897. http://www.anzctr.org.au/trial_view.aspx?id=347879

Enhancing the auditor's report : to what extent is there support for the IAASB's proposed changes?

This article outlines proposed reforms to auditor reporting currently being considered by the International Auditing and Assurance Standards Board (IAASB), and other key national and transnational standard-setters and regulatory bodies. It adds to recent academic contributions on reforming the auditor’s report by analyzing the 165 stakeholder responses to the IAASB’s 2012 Invitation to Comment: Improving the Auditor’s Report to determine levels of support for the IAASB’s proposed reforms, and the differences, if any, between the views of various respondents based on stakeholder groups (e.g. audit and assurance firms, users, preparers, regulators, etc.) and regional classifications. Guided by insights from communication theory, our results show the levels of stakeholder support for the IAASB’s proposed reforms addressing auditors’ expectations, information and communication gaps are mixed. The strongest overall support was for enhanced auditor reporting on other information attached to, or intended to be read with, the financial statements, and the least supported initiative was including additional information in the auditor’s report about the auditor’s judgements and processes. Whilst overall there is generally consensus across both stakeholder groups and regions concerning the various questions investigated, we highlight where statistically significant differences between groups do exist. Notably, North American respondents were less likely to support a number of the IAASB’s proposed reforms than their counterparts from other regions.

Making robust decisions for conservation with restricted money and knowledge

1. In conservation decision-making, we operate within the confines of limited funding. Furthermore, we often assume particular relationships between management impact and our investment in management. The structure of these relationships, however, is rarely known with certainty - there is model uncertainty. We investigate how these two fundamentally limiting factors in conservation management, money and knowledge, impact optimal decision-making. 2. We use information-gap decision theory to find strategies for maximizing the number of extant subpopulations of a threatened species that are most immune to failure due to model uncertainty. We thus find a robust framework for exploring optimal decision-making. 3. The performance of every strategy decreases as model uncertainty increases. 4. The strategy most robust to model uncertainty depends not only on what performance is perceived to be acceptable but also on available funding and the time horizon over which extinction is considered. 5. Synthesis and applications. We investigate the impact of model uncertainty on robust decision-making in conservation and how this is affected by available conservation funding. We show that subpopulation triage can be a natural consequence of robust decision-making. We highlight the need for managers to consider triage not as merely giving up, but as a tool for ensuring species persistence in light of the urgency of most conservation requirements, uncertainty and the poor state of conservation funding. We illustrate this theory by a specific application to allocation of funding to reduce poaching impact on the Sumatran tiger Panthera tigris sumatrae in Kerinci Seblat National Park. © 2008 The Authors.

Robust conservation decision-making

Decision-making for conservation is conducted within the margins of limited funding. Furthermore, to allocate these scarce resources we make assumptions about the relationship between management impact and expenditure. The structure of these relationships, however, is rarely known with certainty. We present a summary of work investigating the impact of model uncertainty on robust decision-making in conservation and how this is affected by available conservation funding. We show that achieving robustness in conservation decisions can require a triage approach, and emphasize the need for managers to consider triage not as surrendering but as rational decision making to ensure species persistence in light of the urgency of the conservation problems, uncertainty, and the poor state of conservation funding. We illustrate this theory by a specific application to allocation of funding to reduce poaching impact on the Sumatran tiger Panthera tigris sumatrae in Kerinci Seblat National Park, Indonesia. To conserve our environment, conservation managers must make decisions in the face of substantial uncertainty. Further, they must deal with the fact that limitations in budgets and temporal constraints have led to a lack of knowledge on the systems we are trying to preserve and on the benefits of the actions we have available (Balmford & Cowling 2006). Given this paucity of decision-informing data there is a considerable need to assess the impact of uncertainty on the benefit of management options (Regan et al. 2005). Although models of management impact can improve decision making (e.g.Tenhumberg et al. 2004), they typically rely on assumptions around which there is substantial uncertainty. Ignoring this 'model uncertainty', can lead to inferior decision-making (Regan et al. 2005), and potentially, the loss of the species we are trying to protect. Current methods used in ecology allow model uncertainty to be incorporated into the model selection process (Burnham & Anderson 2002; Link & Barker 2006), but do not enable decision-makers to assess how this uncertainty would change a decision. This is the basis of information-gap decision theory (info-gap); finding strategies most robust to model uncertainty (Ben-Haim 2006). Info-gap has permitted conservation biology to make the leap from recognizing uncertainty to explicitly incorporating severe uncertainty into decision-making. In this paper we present a summary of McDonald-Madden et al (2008a) who use an info-gap framework to address the impact of uncertainty in the functional representations of biological systems on conservation decision-making. Furthermore, we highlight the importance of two key elements limiting conservation decision-making - funding and knowledge - and how they interact to influence the best management strategy for a threatened species. Copyright © ASCE 2011.

Ecosystem management along ephemeral rivers: Trading off socio-economic water supply and vegetation conservation under flood regime uncertainty

In ecosystems driven by water availability, plant community dynamics depend on complex interactions between vegetation, hydrology, and human water resources use. Along ephemeral rivers—where water availability is erratic—vegetation and people are particularly vulnerable to changes in each other's water use. Sensible management requires that water supply be maintained for people, while preserving ecosystem health. Meeting such requirements is challenging because of the unpredictable water availability. We applied information gap decision theory to an ecohydrological system model of the Kuiseb River environment in Namibia. Our aim was to identify the robustness of ecosystem and water management strategies to uncertainties in future flood regimes along ephemeral rivers. We evaluated the trade-offs between alternative performance criteria and their robustness to uncertainty to account for both (i) human demands for water supply and (ii) reducing the risk of species extinction caused by water mining. Increasing uncertainty of flood regime parameters reduced the performance under both objectives. Remarkably, the ecological objective (species coexistence) was more sensitive to uncertainty than the water supply objective. However, within each objective, the relative performance of different management strategies was insensitive to uncertainty. The ‘best’ management strategy was one that is tuned to the competitive species interactions in the Kuiseb environment. It regulates the biomass of the strongest competitor and, thus, at the same time decreases transpiration, thereby increasing groundwater storage and reducing pressure on less dominant species. This robust mutually acceptable strategy enables species persistence without markedly reducing the water supply for humans. This study emphasises the utility of ecohydrological models for resource management of water-controlled ecosystems. Although trade-offs were identified between alternative performance criteria and their robustness to uncertain future flood regimes, management strategies were identified that help to secure an ecologically sustainable water supply.

The impact of home loan key facts sheets on borrowers' comparisons of loan costs

This thesis evaluates the effectiveness of the prescribed design and distribution requirements of the Australian Government's home loan key facts sheets (KFS) aimed at helping borrowers compare loan costs. The findings show that despite effectively improving borrower decision-making, few borrowers were aware of their existence and function. It was also demonstrated that KFS have had limited market impact over the four year window since introduction, likely due to the requirement that KFS provision is not required unless formally requested by a borrower. Recommendations include transferring the burden of disclosure to lenders in the first instance to address this information gap.

Delineating human resource management practice in domestic and foreign owned multinational enterprises in Australia

To date there is an absence of any systematic and extensive data on Australian multinational enterprises (MNEs). This research paper fills the information gap and leads to a discussion of the human resource management (HRM) practices of Australian MNEs in the global arena and whether there is a distinctive national identity associated with these practices. We report on the profile of Australian-based multinational enterprises (MNEs). Drawing on a systematic database developed by the authors in 2010–11 we are able to identify the numbers of Australian MNEs and their characteristics and compare them against a representative sample of foreign-owned MNEs operating in Australia.

Estratégias de posicionamento do azeite português

Dissertação de mestrado em Agricultura Sustentável, apresentada na Escola Superior Agrária de Santarém, Instituto Politécnico de Santarém.

Biology, ecology, population dynamics and distribution of metals in Sepia officinalis on a typical estuarine coastal lagoon - Ria de Aveiro

The common cuttlefish, Sepia officinalis, is a necto-benthic cephalopod that can live in coastal ecosystems, with high influence of anthropogenic pressures and thus be vulnerable to exposure to various types of contaminants. The cuttlefish is a species of great importance to the local economy of Aveiro, considering the global data of catches of this species in the Ria de Aveiro. However, studies on this species in Ria de Aveiro are scarce, so the present study aims to fill this information gap about the cuttlefish in the Ria de Aveiro. The cuttlefish enters Ria de Aveiro in the spring and summer to reproduce, returning to deeper waters in the winter. In terms of abundance, the eastern and center regions of the lagoon, closer to the sea, showed the highest values of abundance, while the northern and southern regions of the main channel had the lowest abundance. This fact may be related to abiotic factors, as well as depth, salinity and temperature. In the most southern point of the Ria de Aveiro (Areão) no cuttlefish was caught. This site had the lowest values of salinity and depth. The cuttlefish has an allometric the females being heavier than males to mantle lengths greater than 82.4 mm. Males reach sexual maturity first than females. In Ria de Aveiro in a generation of parents was found. The cuttlefish, presents itself as opportunistic predators, consuming a wide variety of prey from different taxa. The diet was similar in different sampling locations observing significant differences for the seasons. S. officinalis was captured at 10 sites in the Ria de Aveiro with different anthropogenic sources of contamination. Thus, levels of metals analyzed were similar at all sampling sites, with the exception of a restricted area, Laranjo, which showed higher values. The cuttlefish has the ability to accumulate metals in your body. The levels of Fe, Zn, Cu, Cd, Pb and Hg found in the digestive gland and mantle reflect a differential accumulation of metals in the tissues. This accumulation is related to the type and function of tissue analyzed and the type of metal analysis (essential and non-essential). The metal concentrations in the digestive gland are higher than in the mantle, with the exception of mercury. This may be due to the high affinity of the mantle for the incorporation of methylmercury (MeHg), the most abundant form of mercury. The accumulation of metals can vary over a lifetime, depending on the metal. The concentrations of Zn, Cd and Hg increases throughout life, while Pb decreases and essential metals such as Fe and Cu remain constant. The data collected suggest that the cuttlefish (Sepia officinalis) can be used as a bioindicator of environmental contamination for some metals.

Intégrer les études d'impact des droits de la personne au processus législatif canadien : une étude de cas sur des changements apportés à la loi sur l'immigration et la protection des réfugiés concernant les étrangers désignés et les pays d'origine désignés

Le 28 juin 2012, le Parlement canadien adoptait des modifications à la Loi sur l’immigration et la protection des réfugiés introduisant des changements importants dans le traitement des demandes de protection faites à partir du Canada. Ces modifications incorporent deux nouveaux concepts en droit canadien, le premier étant le pays d’origine désigné, qui figure sur une liste. Ces pays considérés comme « sûrs » sont désignés par arrêté par le ministère de la Citoyenneté et de l’Immigration. Les pays d’origine désignés ne peuvent être source de réfugiés, et les demandeurs d’asile provenant de ces pays reçoivent un traitement particulier. Le deuxième concept est celui d’« étranger désigné » : le ministre de la Sécurité publique et de la Protection civile peut désigner des arrivées de migrants comme étant irrégulières, si ces derniers se présentent aux frontières canadiennes sans les documents réglementaires. Ces étrangers sont obligatoirement mis en détention, et leur demande d’asile, le cas échéant, reçoit aussi un traitement particulier. Ces dispositions soulèvent de nombreuses questions concernant leur validité en vertu de la Charte canadienne des droits et libertés et du droit international. Dans un premier temps, ce mémoire a pour objet de montrer qu’il existe une lacune dans le processus législatif canadien. Lorsqu’un gouvernement est majoritaire au Parlement, il peut faire adopter ses projets de loi sans informer adéquatement l’opposition et les électeurs sur les risques qu’ils présentent de violer les droits et libertés de la personne. À notre avis, cette lacune est problématique, car à notre avis, des lois sont adoptées en violation de la constitution et plus particulièrement de la Charte canadienne des droits et libertés sans que le gouvernement ait à se justifier. Ce mémoire explore l’idée d’utiliser les études d’impact sur les droits de la personne, un modèle d’analyse des lois, règlements et politiques publiques qui vise à évaluer et faire connaître les impacts qu’ils ont ou peuvent avoir sur les droits fondamentaux des personnes affectées. Les cas de la France, de la Grande-Bretagne et de la Commission européenne seront analysés. Ce mémoire examine les dispositions concernant les pays d’origine désigné et les étrangers désignés en vertu de la Charte canadienne et du droit international. Nous concluons que si ces dispositions avaient fait l’objet d’une étude d’impact sur les droits de la personne, le Parlement et les Canadiens auraient été informés des risques de violation des droits fondamentaux des demandeurs d’asile concernés.