Bank loan terms and conditions: is there a macro effect?

We examine whether macroeconomic factors contain significant information for bank loan contracting terms and conditions (T&Cs), over and above that of standard firm-specific or country-level institutional factors. Our estimation is based on a seemingly unrelated mixed-processes methodology that accommodates two salient data properties: (i) the fact that loan contract terms are determined jointly as a single lending contract, and (ii) the fact that the elements of loan T&Cs are generated by different distributional formats. Our findings indicate that cross-country variation accounts for a significant portion of observed variation in loan T&Cs. In addition, macroeconomic fundamentals significantly explain the “package” of loan T&Cs offered to corporate borrowers, with this effect being distinct from any influence that T&Cs receive from firm-specific factors, and also from country-specific institutional factors.

Perceptions of mobile plan unit pricing and terms and conditions

Purpose: The purpose of this paper is to test the efficacy of disclosing unit pricing and increasing the type size of complex terms and conditions in advertising. This is in line with recommendations made by global telecommunications regulators, including in Australia, to protect consumers in selecting mobile plans.

Design/methodology/approach: The authors employed a 2 (unit price disclosed: no, yes)×3 (type size: nine-, 12- and 15-point terms and conditions) full factorial, between-subjects experimental design using a scenario and fictional advertisements for 24-month mobile phone plans. This was complemented by 24 in-depth interviews with consumers who had recently purchased “real” plans and their assessment of these.

Findings: Extra information in the form of unit pricing has a positive influence on consumers’ value perceptions, but not on perceived confusion or risk. Presenting complex terms and conditions in larger type increases consumers’ perceived confusion and risk, but not perceived value, as consumers have difficulty understanding the complicated information presented.

Research limitations/implications: This study focused on a single country market for one product type of mobile phones, using a limited range of mobile plans. Practical implications: Public policymakers and providers are advised to pre-test planned changes to advertising’s informational content prior to implementation to identify the efficacy of proposed changes to protect consumers. Consumers may also need to be educated to accurately interpret complex plans.

Originality/value: The study contributes to the domain of informational content in advertising as a form of consumer protection. The effect of unit pricing and larger type for terms and conditions on consumer perceptions has not been examined previously in complex product settings.

Copyright, Licences, and Statutory Fraud

In this article we explore the interplay between the law of copyright, contract, and statutory fraud within the digital environment, and in particular with respect to the business of commercial image licensing within the UK.

Sense of community, social identity and social support among players of massively multiplayer online games (MMOGs): A qualitative analysis

The majority of research examining massively multiplayer online game (MMOG)-based social relationships has used quantitative methodologies. The present study used qualitative semi-structured interviews with 22 Australian World of Warcraft (WoW) players to examine their experiences of MMOG-based social relationships. Interview transcripts underwent thematic analysis and revealed that participants reported experiencing an MMOG-based sense of community (a sense of belonging within the gaming or WoW community), discussed a number of different MMOG-based social identities (such as gamer, WoW player and guild or group member) and stated that they derived social support (a perception that one is cared for and may access resources from others within a group) from their relationships with other players. The findings of this study confirm that MMOG players can form gaming communities. Almost all participants accessed or provided in-game social support, and some gave or received broader emotional support. Players also identified as gamers and guild members. Fewer participants identified as WoW players. Findings indicated that changes to the game environment influence these relationships and further exploration of players' experiences could determine the optimal game features to enhance positive connections with fellow players.

Optimization of aqueous extraction conditions for the recovery of phenolic compounds and antioxidants from lemon pomace

The aim of this study was to optimize the aqueous extraction conditions for the recovery of phenolic compounds and antioxidant capacity of lemon pomace using response surface methodology. An experiment based on Box–Behnken design was conducted to analyse the effects of temperature, time and sample-to-water ratio on the extraction of total phenolic compounds, total flavonoids, proanthocyanidins and antioxidant capacity. Sample-to-solvent ratio had a negative effect on all the dependent variables, while extraction temperature and time had a positive effect only on TPC yields and ABTS antioxidant capacity. The optimal extraction conditions were 95 oC, 15 min, and a sample-to-solvent ratio of 1:100 g/ml. Under these conditions, the aqueous extracts had the same content of TPC and TF as well as antioxidant capacity in comparison with those of methanol extracts obtained by sonication. Therefore these conditions could be applied for further extraction and isolation of phenolic compounds from lemon pomace.

Surface plasmon hybridization and exciton coupling

We derive a semianalytical model to describe the interaction of a single photon emitter and a collection of arbitrarily shaped metal nanoparticles. The theory treats the metal nanoparticles classically within the electrostatic eigenmode method, wherein the surface plasmon resonances of collections of nanoparticles are represented by the hybridization of the plasmon modes of the noninteracting particles. The single photon emitter is represented by a quantum mechanical two-level system that exhibits line broadening due to a finite spontaneous decay rate. Plasmon-emitter coupling is described by solving the resulting Bloch equations. We illustrate the theory by studying model systems consisting of a single emitter coupled to one, two, and three nanoparticles, and we also compare the predictions of our model to published experimental data. ©2012 American Physical Society.

Experimental studies of gypsum plasterboards and composite panels under fire conditions

Gypsum plasterboards are commonly used to protect the light gauge steel-framed walls in buildings from fires. Single or multiple plasterboards can be used for this purpose, whereas recent research has proposed a composite panel with a layer of external insulation between two plasterboards. However, a good understanding of the thermal behaviour of these plasterboard panels under fire conditions is not known. Therefore, 15 small-scale fire tests were conducted on plasterboard panels made of 13 and 16 mm plasterboards and four different types of insulations with varying thickness and density subject to standard fire conditions in AS 1530.4. Fire performance of single and multiple layers of gypsum plasterboards was assessed including the effects of interfaces between adjacent plasterboards. Effects of using external insulations such as glass fibre, rockwool and cellulose fibre were also determined. The thermal performance of composite panels developed from different insulating materials of varying densities and thicknesses was examined and compared. This paper presents the details of the fire tests conducted in this study and their valuable time–temperature data for the tested plasterboard panels. These data can be used for the purpose of developing and validating accurate thermal numerical models of these panels.

Work environment, job satisfaction, stress and burnout among haemodialysis nurses

Aim To examine the relationships among nurse and work characteristics, job satisfaction, stress, burnout and the work environment of haemodialysis nurses. Background Haemodialysis nursing is characterised by frequent and intense contact with patients in a complex and intense environment. Method Cross-sectional online survey of 417 haemodialysis nurses that included nurse and work characteristics, the Brisbane Practice Environment Measure, Index of Work Satisfaction, Nursing Stress Scale and the Maslach Burnout Inventory. Results Haemodialysis nurses reported an acceptable level of job satisfaction and perceived their work environment positively, although high levels of burnout were found. Nurses who were older and had worked in haemodialysis the longest had higher satisfaction levels, experienced less stress and lower levels of burnout than younger nurses. The in-centre type of haemodialysis unit had greater levels of stress and burnout than home training units. Greater satisfaction with the work environment was strongly correlated with job satisfaction, lower job stress and emotional exhaustion. Conclusion Haemodialysis nurses experienced high levels of burnout even though their work environment was favourable and they had acceptable levels of job satisfaction. Implications for Nursing Management: Targeted strategies are required to retain and avoid burnout in younger and less experienced nurses in this highly specialised field of nursing.

Nursing care of children in general practice settings: roles and responsibilities

Aims. To examine roles and responsibilities of Practice Nurses in the area of child health and development and in advising parents about child health issues. Background. As the focus of Australia’s health care system shifts further towards the primary health care sector, governmental initiatives require that Practice Nurses are knowledgeable, confident and competent in providing care in the area of child health and development. Little is known about roles and responsibilities of Practice Nurses in this area. Design. Cross-sectional survey design. Methods. Practice Nurses completed a national online survey examining the roles and responsibilities in child health and development, professional development needs and role satisfaction. Data were collected from June 2010–April 2011. Results. Respondents (N = 159) reported having a significant role in well and sick child care and were interested in extending their role. Frequent activities included immunization, phone triage/advice, child health/development advice, wound care and Healthy Kids Checks. However, few had paediatric/child nursing backgrounds or postgraduate qualifications in paediatric nursing and they reported limited preparation for the role. Practice Nurses reported difficulties with keeping up-to-date with child health information and advising parents confidently. Satisfaction was relatively low regarding opportunities and encouragement to undertake professional development and expand scope of practice. Conclusion. Practice Nurses are largely unprepared to meet the demands of their child health role and need support to develop and maintain the skills and knowledge base necessary for high-quality, evidence-based practice. Both financial and time support is needed to enable Practice Nurses to access child health professional development.