The Downside of Harmonisation Haste: The Equity Accounting Experience

While the main harmonisation objective of legalising the use of equity accounting in the consolidated financial statements has been achieved to the relief of Australian business, the Australian standard-setting boards have had less success in harmonising the detailed application and implementation rules. With no clear conceptual direction, they appear to have arbitrarily adhered to, and deviated from, international precedents on ancillary issues of significance to the users and preparers of financial statements.     

Contrasting Two Models of Wealth Redistribution

Philanthropy tries to improve the condition of people. Yet there are different models of philanthropy. American philanthropy tries to improve conditions for different people, without reference to race or language; this evolved from the notion of equality. In contrast, Chinese clans arose in Singapore, as a response to a society segmented along racial and linguistic lines; in a culture that emphasized face, rich entrepreneurs could "buy" prestige and leadership positions, by assisting their poor. This article examines philanthropy as practiced by entrepreneurs in America, and compares this to the Chinese model of wealth redistribution. The latter is centered on clan associations. In the new economy, however, these have been losing importance, as governments take on some roles previously taken care of by such associations; this includes, for instance, education and assistance to start-up entrepreneurs. We conclude that there appears to be a relationship between philanthropy, government and entrepreneurship.     

Moody:Weakening Steel Demand in China

Moody’s Investors Service says that Asian steel companies face increasing operating challenges in2015,as Chinese steel demand slows.Moody’s could change its outlook on the Asian steel sector to negative from stable if this weakness persists.According to Moody,China’s Purchasing Managers’Index(PMI)fell to 49.8 in January,which indicates a contraction in manufacturing activities.In another sign that manufacturing is slowing,steel prices fell more than     

How Can a Phenomenological Approach Innovate Leadership in a High‐Tech World?

The author opines that the litmus test for good or defective leadership can be obtained from the philosophical lens with which a leader approaches the world. A leader who is not rooted in nature will practices a calculative type of thinking and leadership. Because the origin of such leadership is based on illusion, the destiny of such leadership is also projected towards an illusionary vista. Phenomenological logic influences our relationship to space, time, values, and perceptions. Humans are not the central lens epistemology that allows leaders to listen to the protesting environment that they are immersed in. This kind of deep ethics is possible only in the realm of Heidegger's meditative thinking, and it leads to longsighted and deeper answers for a sustainable world. Because humans have tried to make technology absolute, humans now live on products of technology instead of living in our natural habitat. Deep listening to the song of creation will make human beings more compassionate to the natural order and the foresight to fashion a symmetrical relationship with flora and fauna.     

Enhanced and conventional project-based learning in an engineering design module

Engineering education focuses chiefly on students’ ability to solve problems. While most engineering students are proficient in solving paper questions, they may not be proficient at providing optimal solutions to pragmatic project-based problems that require systematic learning strategy, innovation, problem-solving, and execution. The present study aims to determine whether an enhanced Project-based learning (PBL) with appropriate innovative interventions leads to increased students’ ability to achieve better learning and project outcomes. The interventions refer to incorporating added learning and facilitating methods, namely, (1) use of mind-maps; (2) employment of analogies; and (3) use of round-table discussions. The study was conducted with a total number of 60 first-time PBL students equally divided into two classes with one serving as an experimental class and another as a control class. In addition, one class of students had a lower academic standing compared to the other (control). The rubric for the project-based module included a written knowledge test and a scenario-based oral examination to test knowledge and problem-solving skills, a artefact demonstration to evaluate artefact’s performance. A major finding of this study was that there were significant differences in knowledge scores, problem-solving ability and artefact performance between students undergoing conventional and enhanced PBL methods. It could also be inferred from this study that students who had undergone enhanced PBL method designed better systems and had better performing artefacts than those who were subjected to the conventional PBL approach. Finally, it was concluded that incorporating enhanced learning and facilitating methods to group-centric, project-based driven education provided a more fertile environment to promote better learning experience and improved problem-solving ability which could eventually lead to developing innovative and pragmatic solutions to real-world engineering problems.     

Social Media as a New Play in a Marketing Channel Strategy: Evidence from Taiwan Travel Agencies' Blogs

With social media playing an increasingly important role in marketing strategies for travel agencies, this study explores travel agencies that develop their own travel blogs as a marketing channel in order to differentiate their products or services and their strategic performances. The paper herein adopts a two-stage research design, with the first stage developing a three-round Delphi research. According to this research, Taiwanese travel agencies consider four external environment forces, five internal motivations for investment, four developing differentiated strategies, and four channel performance measurement indicators for managing travel agencies' own blogs as a marketing channel. The second stage explores a quantitative survey, Structural Equation Modeling, with the structural equation testing the business model of a travel blog marketing channel strategy. Finally, the findings provide innovative approaches for effectively exploiting differentiated marketing channel strategies when targeting maximum profits.     

Country and consumer segmentation: multi-level latent class analysis of financial product ownership

The financial services sector has internationalized over the last few decades. Important differences and similarities in financial behavior can be anticipated between both consumers within a particular country and those living in different countries. For companies in this market, the appropriate choice between strategic options and the resulting international performance may critically depend on the cross-national market structure of the various financial products. Insight into country segments and international consumer segments based on domain-specific behavioral variables will therefore be of key strategic importance. We present a multi-level latent class framework for obtaining simultaneously such country and consumer segments. In an empirical study, we apply this methodology and several alternative modeling approaches to data on ownership of eight financial products. Information is available for 15 European countries, with a sample size of about 1000 consumers per country. We find that both country segments and consumer segments are highly interpretable. Also, consumer segmentation is related to demographic variables such as age and income. Our conclusions feature implications, both academic and managerial, and directions for future research.