Financial Market Volatility and Primary Placements

This paper studies empirically the link between financial markets volatility and primary placements of stocks and bonds for the US economy. We find that the impact of volatility on primary placements is not statistically significant.Financial risk, Primary placements

Private Placements by Small Public Entities: Canadian Experience

In Canada, most of the private placements are offered by small and unprofitable entrepreneurial ventures -- for which the asymmetry of information and adverse selection problems are particularly acute. Private placements are a very important source of equity for these emerging businesses. In contrast with the public offering process, placements of shares are made in the exempt market with accredited or sophisticated investors. It is assumed that these investors would be knowledgeable enough to protect their own interests. The aim of this paper is to analyze the extent to which such private placements can be considered “fair”, i.e. if they provide investors with a fair rate of return and if accredited investors are indeed able to price these placements correctly in a context of large asymmetry of information. The answer is clearly negative. Au Canada, la majorité des placements privés sont émis par de petites entreprises en émergence, non rentables. Les problèmes d’asymétrie de l’information et d’anti-sélection sont particulièrement sévères. Les placements privés sont toutefois une source de financement très importante pour ces entreprises. Contrairement aux offres publiques, les placements privés sont émis dans le cadre du régime d’exemption, auprès d’investisseurs agréés dont on considère qu’ils ont les connaissances requises pour veiller à leurs intérêts financiers. L’objectif de l’étude est de déterminer dans quelle mesure les placements privés procurent un taux de rendement équitable aux investisseurs et si les investisseurs agréés sont en mesure d’apprécier correctement la valeur de ce type d’investissement. La réponse est négative.Private placements, SME, securities regulation, public policies, financing, Placement privé, petites entreprises, réglementation des valeurs mobilières, politiques publiques, financement

Developing ODP student placements

In a similar way to nursing and other health professions, elements of the education of operating department practitioners (ODPs) can only be contextualised by clinical practice involvement (Stockhausen and Strutt, 2005; Higginson, 2006; Morgan, 2006). The importance of high-quality placement experiences for all UK health professions is widely acknowledged (Quality Assurance Agency, 2001). Prior to 2009, students on the Diploma in Higher Education ODP programme undertook four clinical placements in the same Trust or organisation. At the time of the project there was a shortfall in the number of placements available and, although the university explored placing students in different clinical areas, such as private healthcare providers and new areas in the NHS, none could provide the full learning experience for students to achieve the required competencies. The course team developed a system that uses placements in a variety of settings and ensures students can gain the required outcomes. The new approach involves auditing for individual placements, instead of for the full course duration. Students are now informed throughout recruitment and selection events that they should be undertaking placements in a minimum of three different organisations. Students now move to a different organisation with every experience, to gain a variety of clinical knowledge. This has resulted in the greater use of clinical placements and the development of new areas for students to gain experience. The benefits of students’ experiences have increased, as they can develop skills and understanding of the ODP role from different perspectives

A format for phylogenetic placements

We have developed a unified format for phylogenetic placements, that is, mappings of environmental sequence data (e.g. short reads) into a phylogenetic tree. We are motivated to do so by the growing number of tools for computing and post-processing phylogenetic placements, and the lack of an established standard for storing them. The format is lightweight, versatile, extensible, and is based on the JSON format which can be parsed by most modern programming languages. Our format is already implemented in several tools for computing and post-processing parsimony- and likelihood-based phylogenetic placements, and has worked well in practice. We believe that establishing a standard format for analyzing read placements at this early stage will lead to a more efficient development of powerful and portable post-analysis tools for the growing applications of phylogenetic placement.Comment: Documents version 3 of the forma

Integrating placement and audience characteristics to assess the recall of product placements in film: findings from a field study

This research incorporates into a single model characteristics of product placements in films and characteristics of the consumers and their viewing environment to assess the memorability of the placements. Eleven movies containing a total of 98 placements of varied characteristics were coded. 3,532 individuals who viewed a DVD rental of one of these movies at home completed a questionnaire on the following day. The questionnaire included audience viewing characteristics as well as a free recall measure of placements. The results reveal important insights into the variables that affect, positively or negatively, the day after recall of products placed in moviesBrand placement, consumer, movie, product placement, spontaneous day after recall

Providing work Placements for disabled students : a good practice guide for further and higher education institutions

"This document provides a guide to institutions’ duties in regard to work placements and offers practical advice on what institutions can do to ensure quality work placement opportunities for disabled students. It is aimed at institution staff responsible for placements: placement organisers, subject tutors and disability officers/learning support coordinators. It is not aimed at employers or students themselves" -- page 2

From unskilled to employable: using a qualitative examination of the ‘Placement Timeline Research Method’ to explore student professional and personal development whilst on multiple WIL experiences.

This paper explores the method and findings of a qualitative examination into multiple work integrated learning (MWIL) placements. The research consisted of 14 reflective interviews with students from across discipline areas who had undertaken a series of work placements. The range of MWIL experiences included professional placements in nursing and youth work, yearlong placements in accountancy and engineering, self-directed WIL experiences in arts, informal and part-time placements. The aim of this study was to explore the transitions that took place throughout multiple placements that helped the student to become a work ready and an effective professional. A research method, 'Placement Timeline' was developed. This allows a reflective structure for the researcher to tease out skill development and work readiness. All interviews were transcribed and coded using NVivo qualitative software. The paper will discuss selected findings from the research. These provide insights into how multiple WIL experiences may benefit students in their preparation for work. In effect it was as if the work readiness and skills relating to an uncertain and ever changing job market skills were fast tracked over MWIL.This research highlights the key transitional features of MWIL

Au fait law placements:an emerged reality or a popular trend in contemporary education?

PurposeEnhancing student employability and bridging the gap between theory and practice in law education requires a more multifaceted approach than the traditional mix of lectures, tutorials and simulations. Law placements also provide an opportunity to reinforce the importance of the professional practice standards and requirements laid down by the Law Society of Scotland. The design and implementation of law placements is analysed from the point of initiation to becoming a regular practice. The emphasis is on placements embedded in the programme of study offered to Stage 3 students to facilitate their career choices prior to specialisation in the final year.Design/methodology/approachThis study utilises a longitudinal multi-method approach, allowing the analysis of various aspects the development and practical implementation of law related placements. The views of students, academic staff and representatives of local employers are gathered by in-depth interviews. A reflective workbook method is also used to analyse the ‘integration’ of learning and to support the ‘demonstration’ and assessment of personal and professional capabilities which are difficult to assess by other means.FindingsThe paper presents the challenge faced by a higher education institution in organising meaningful placements and looks at the other avenues explored, particularly in the Third Sector. There are differences in the expectations of law placement providers (law firms and Third Sector organisations) in respect of students’ skill and knowledge base. The students were explicit about the need to demystify the profession and are appreciative of experience with atypical law placement providers which expands their perceptions of the choices within a law career. Students have also indicated a positive alteration in their attitude to the role of reflective practice, which stimulated changes in their behaviour with respect to professional development.Practical implicationsThe outcomes of the initial stage of this study have implications for law departments in higher education in the context of organising law placements, evaluating their effectiveness and their impact on student employability.Originality/valueTeaching law has its specifics and already employs a number of methods: simulations, negotiation exercises, moots and debates. This paper explores ways of providing a more meaningful practical experience for undergraduate students by placing an emphasis on such elements of professional practice as drafting legal documents and preparing professional opinions, while introducing the complexity of the law profession. Solutions to the challenges faced by the institution in organising those placements are analysed. The study provides an analytical view on the effectiveness of law placements in relation to other widely used approaches to bridging the gap between the theory and practice of law

Earnings Management and Long-Run Stock Underperformance of Private Placements

The study investigates whether private placement issuers manipulate their earnings around the time of issuance and the effect of earnings management on the long-run stock performance. We find that managers of U.S. private placement issuers tend to engage in income-increasing earnings management in the year prior to the issuance of private placements. We further speculate that earnings management serves as a likely source of investor over-optimism at the time of private placements. To support this speculation, we find evidence suggesting that the income-increasing accounting accruals made at the time of private placements predict the post-issue long-term stock underperformance. The study contributes to the large body of literature on earnings manipulation around the time of securities issuance

Problematising international placements as a site of intercultural learning

This paper theorises some of the learning outcomes of a three-year project concerning student learning in international social work placements in Malaysia. The problematic issue of promoting cultural and intercultural competence through such placements is examined, where overlapping hegemonies are discussed in terms of isomorphism of social work models, that of the nation state, together with those relating to professional values and knowledge, and the tyrannies of received ideas. A critical discussion of cultural competence as the rationale for international placements is discussed in terms of the development of the graduating social worker as a self-reflexive practitioner. The development of sustainable international partnerships able to support student placement and the issue of non-symmetrical reciprocation, typical of wide socio-economic differentials across global regions, is additionally discussed