Home Care Providers in Queensland: Exploratory Data Analysis Using My Aged Care Platform

The My Aged Care website, established by the Australian Government, is the starting point for aged care consumers and carers to find information on aged care providers. Using information published on this platform, we compile a unique dataset of 588 approved home care providers in Queensland. This article presents a brief introduction to this dataset, including how they are extracted and what variables are available. We propose some current and future applications of this data with a focus on how it can contribute to evidence-based policymaking in Australia.     

Empirical modelling of contagion: a review of methodologies

Chris Attfield, Michaela Glod and Jessica James suggest an approach to optimize hedging decisions for foreign exchange investments.     

发展下一代领导者：跨国公司动作迟缓

构建领导力发展阶梯对所有企业而言都是一种竞争上的必要之举。然而，调查显示，只有一半的企业为高潜力员工制定个人发展计划。     

Testing for convergent validity between travel cost and contingent valuation estimates of recreation values in the Coorong,Australia*

A number of studies valuing recreation have shown that the travel cost method (TCM) generates higher estimates of value than the contingent valuation method (CVM), even though the latter is commonly associated with potential problems of hypothetical and strategic bias. In this study, both methods have been used to estimate the recreational values associated with the Coorong on the Murray River in south‐eastern Australia. Values per adult visitor per recreation day are estimated with the TCM at $149 and with the CVM at $116. A number of methodological and framing issues to explain these value differences are tested. In summary, while no single methodological or framing issue could be identified that would reconcile the difference between TCM and CVM values, it appears likely that there may be a combination of factors that drive the systematic variations in consumer surplus values. The evidence in this study suggests that the most important of these are likely to be the different decision points underpinning data collection and the consideration of substitute sites, strategic responses and the treatment of uncertain responses within the CVM.     

Reference prices and consumers' feeling of regret: an investigation of consumers' use of an online price‐bidding method

The purpose of the research was to provide a better understanding of the impacts of relevant information on consumers' emotions when bidding their prices through an online Name‐Your‐Own‐Price method. Specifically, based on the tenets of the Decision Justification Theory, the study examined whether participants felt more regret about a negative outcome when reference prices were available. The research hypotheses were tested in two experiments. The results indicated that the availability of reference prices significantly affected participants' feelings of regret about a negative outcome.     

Networking and internationalization of SMEs in emerging economies

Networking has been established as an important source of small- to medium-sized enterprises (SMEs) business expansion in many developed economies. Often, it provides the necessary intelligence leading to internationalization. The question this study addresses is “What are the roles and sources of networking of SMEs internationalization in emerging economies?” This study responds to this query through a dyadic study involving expert-opinion survey of SME development professionals and case studies of SMEs internationalization. The convergent views identified three interconnected sources of networking for SMEs internationalization, which are government institutions, business associates, and personal relations. The results affirmed that accomplishment of internationalization requires cohesion among the myriads of networking sources and operating agencies. A systems approach towards supporting the creation and management of networking linkages for internationalization combines systems thinking perspective with institutional view. It emphasizes integration of coordination, facilitation, and monitoring functions. Thus, suggesting institutional support and systems thinking are important constructs in the theory of international entrepreneurship. Policy makers and entrepreneurs of SMEs gain actionable points to ensure effectiveness of institutional support mechanism and to enhance their business internationalization, respectively.     

Financial literacy: A comparative study across four countries

This study analysed differences in financial literacy across four countries: Canada, Italy, the UK and the US. The purpose was to understand whether factors associated with financial literacy in one country can be generalized to other countries as well or whether unique national characteristics make it necessary to examine financial literacy in each country individually. A financial literacy index, based on the number of correct answers to four multiple‐choice questions, was used to test the relevance of country of origin to financial literacy. Results suggest significant differences among countries indicating that there are national and cultural differences in what households know and need to know about their personal finances. Policy makers should consider these differences when developing financial literacy assessment tools for their respective countries.     

Part-time work and health among older workers in Ireland and Britain

Part-Time (PT) work is viewed as a viable option for people who wish to have a gradual transition to retirement. From a policy viewpoint, this may help to alleviate some labour supply shortages and fiscal pressures, especially in the context of the ageing population. Factors such as health or pension provision may influence a person's decision to work PT. This article considers the impact of health on the work decision of people aged 50 and over in the UK and Ireland. Methodological issues are discussed and the impact of unobserved individual effects is estimated using the Mundlak (1978) estimator applied to the multinomial probit model. We find that health problems increase the probability of retirement for this age group in both countries. In Britain, those with health problems are less likely to work full time and more likely to work PT, however in Ireland, health problems appear to have no effect on the probability of PT work. This article discusses the potential reasons for these impacts and current policies on PT work.     

Pricing rainfall futures at the CME

Many business people such as farmers and financial investors are affected by indirect losses caused by scarce or abundant rainfall. Because of the high potential of insuring rainfall risk, the Chicago Mercantile Exchange (CME) began trading rainfall derivatives in 2011. Compared to temperature derivatives, however, pricing rainfall derivatives is more difficult. In this article, we propose to model rainfall indices via a flexible type of distribution, namely the normal-inverse Gaussian distribution, which captures asymmetries and heavy-tail behaviour. The prices of rainfall futures are computed by employing the Esscher transform, a well-known tool in actuarial science. This approach is flexible enough to price any rainfall contract and to adjust theoretical prices to market prices by using the calibrated market price of risk. The empirical analysis is conducted with US precipitation data and CME futures data providing first results on the market price of risk for rainfall derivatives.