Risk perception, profit efficiency in commercial banking : multicountry empirical evidence over 2000-2013

This thesis aims to evaluate and discuss two important aspects of commercial banks performance, implicitly underlying the process of profit generation and its sustainability. Namely, behaviour towards risk, based on data from the UK, the U.S., Japan and profit efficiency, based on data from the UK, the U.S., Japan and Switzerland. In addressing those issues, I used a relatively large data set covering 13 years, divided by the pre-crisis (2000-2006), the financial crisis (2007-2009) and the post-crisis (2010-2013) intervals.Contrary to the neoclassical perspective on risk taking behaviour commonly applied in economics, my research in chapter three introduces an alternative approach - the propositions of Prospect Theory (PT) (Kahneman & Tversky, 1979). In line with PT, Bank’s choices under risk and uncertainty are seen as a result involving subjective judgement, sensitive to the way the problem of choice is framed relatively to a performance target, labelled as a status quo. Examination of risk behaviour in the context of PT did not find the significant recognition by previous researchers within commercial banking, therefore the current work aims to fill that identified gap.My next important contribution is in chapter four. There, I established new empirical evidence on profit efficiency. The research incorporates variables not considered before by the literature on profit efficiency in commercial banking, like bank assets liquidity and a consumer confidence index.Overall results indicate that subjectivity bias was an important element of commercial bank risk’s behaviour in pre-crisis. As consistent with the predictions of PT I have found evidence for the presence of non-constant risk preferences.The findings on profit efficiency analysis show that all analysed commercial banks over the crisis period experienced a considerable drop in their ability to generate profits efficiently. Rise of bank assets illiquidity was the most important, significant driver of profit inefficiency over all of the analysed periods. Consumer positive expectations to the state of the economy contributed to improvement of bank profit efficiency. Negative association between market concentration and profit efficiency levels for the pre-crisis period confirms banks’ discretion in profit efficiency maximization

Bishop Regfinald Heber (1783-1826): poet, preacher, churchman

This thesis, a biographical study of Reginald Heber, (I783-I826), emphasizes his ability as a poet, as a preacher and as a churchman. He is best known today through several of his hymns which possess qualities that have endeared them to many generations of worshipping Christians around the globe. Less well known is the fact that he was the second Lord Bishop to the See of Calcutta with all British India and Australia as his diocese. Reginald Heber, the son of an English country squire and rector, was born near the end of the eighteenth century, in which a sleepy torpor seemed established by precedent. His boyhood years, the first quarter of his short and active life, were spent in the golden decade of peace which followed the end of the American Revolutionary War5 while his adolescent years and early manhood were lived in a Britain reacting to the challenge of the French Revolution and its Dictator-product, Napoleon Bonaparte. Heber came to the fullness of his powers at a time when his country was seeking to make its adjustment to the post-war problems and the results of its rapid industrial growth. In this pre-reform period, he served the Church of England in the East Indian possessions as a tolerant, statesmanlike Bishop. To show the development of Reginald Heber, with his gracious character, liberal viewpoint, scholarly learning and deep spirituality, as expressed through his poetry, his preaching and churchman- :ship in the service of the Church he loved, against the background of these interesting and tumultuous years, has been my aim

The colour vision of the pigeon

The pigeon's colour vision was examined, using behavioural and physiological techniques Avian colour vision has aroused interest because of the suggestion that chromatic discrimination in birds is mediated by a single cone pigment, combined with several types of retinal oil-droplets which act as differential colour filters. Using an operant conditioning method, difference thresholds were measured throughout the spectrum (400 - 680 nm) to generate a wavelength discrimination function, which yields information about the type of visual system an animal possesses. Earlier work had suggested that birds are trichromatic, but the finding of three clearly defined regions of optimum discrimination at 595, 530 and 460 nm indicates instead that the pigeon's colour vision is at least tetrachromatic. The pigeon's saturation discrimination abilities were also studied using a similar technique Saturation increased towards the spectral extremes while a point of least saturation occurred at 597 nm. Additional subsidiary saturation minima were found at 443, 496, 536 and 662 nm. These results largely corroborated those of the wave length discrimination experiment but indicated that the pigeon's visual system may be more complex than a tetrachromatic one Preliminary to an extension of the wavelength discrimination study, the pigeon's spectral sensitivity was measured electroretinographically The resulting spectral sensitivity curve peaked at 560 - 580 nm, in agreement with previously reported data. Furthermore, spectral sensitivity extended well into the ultraviolet region (<400 nm), where sensitivity was quite high In a second study of wavelength discrimination, results of the first experiment showing three threshold minima were confirmed and, additionally, pigeons maintained good discrimination between wavelengths within the ultraviolet range. Experimental findings were discussed in terms of the physiological mechanisms underlying visual performance, in particular, the present results, together with other evidence, suggest that the retinal oil-droplets are not basic to avian colour vision The functional significance of the pigeon's colour vision was also considere

Investigating the relationship between magnetisation and oil geochemistry

A relationship between hydrocarbons and their magnetic signatures has previously been alluded to but this is the first study to combine extensive geochemical and magnetic data of hydrocarbon-associated samples. A detailed study is reported that identifies a definitive connection between magnetic mineralogy and oil biodegradation within samples from Colombia, Canada, Indonesia and the UK. Geochemical data revealed that all the oil samples were derived from mature type-II kerogen deposited in oxygen-poor environments allowing for an investigation into biodegradation. Biodegradation is the decrease of oil quality through the conversion of aliphatic hydrocarbons to polar constituents through the activity of bacteria. The percentage of oil components and the biodegradation state of the samples were compared to the magnetic susceptibility and magnetic mineralogy. A distinct decrease in magnetic susceptibility was correlated to decreasing oil quality as well as extractable organic matter percentages, which cannot be rejected at 99% confidence. Further magnetic characterisation revealed that the high quality oils were dominated by pseudo-single domain grains of magnetite and the lower quality oils by larger pseudo-single domain to multi domain grains of magnetite and hematite; with decreasing oil quality there is a progressive dominance of multi domain magnetite as well as the appearance of hematite. It is concluded that biodegradation is a dual process, firstly, removing aliphatic hydrocarbons reducing oil quality and secondly, both creating and destroying magnetic signatures. This complex relationship may explain why controversy existed in the past when studying hydrocarbon associated anomalies. Remagnetisation due to hydrocarbon infiltration is also reported within the Wessex Basin, UK. Palaeodirectional data from Mupe Bay revealed oil migration was initiated in the Early Cretaceous and a two-phase staining model is correct. These findings reinforce the importance of bacteria within petroleum systems as well as providing a platform for the use of magnetisation as a hydrocarbon proxy

Awakening Kalkadoon art: a new dreaming

Ricky Emmerton's journey chronicles researching his Indigenous, Kalkadoon culture through art by yarning with his uncle. This research was combined and compared with historically documented information. This led him to implement a new methodology that he termed, informed-practice-led research. The project has culminated in a major exhibition and exegesis

Nurse practitioners: An insight into their integration into Australian community pharmacies

Background: Nurse practitioners (NPs) are independent health professionals with prescribing rights, and have recently established primary care roles in pharmacies. Objective: To describe the roles of pharmacy-based NPs in Australia. Methods: Semi-structured interviews were undertaken onsite or by telephone, with 28 staff of all 9 Revive NP Clinics in Western Australia. Participants comprised NPs representing 6 practices and pharmacy staff of all 9 practices. Questions explored the NPs' scope of practice and staff collaboration. Data are descriptively reported. Results: The NPs undertook a range of services, including medication prescribing according to clinical guidelines, provision and ordering of diagnostic services, vaccine administration and provision of medical certificates. Community pharmacists reported to continue ensuring the safe and quality use of medicines and to counsel clients. Both pharmacists and NPs provided consumer medicine information leaflets. NPs are authorized to write prescriptions for Pharmacist-Only (S3) Medicines. Conclusions: NPs' primary healthcare roles appear to complement roles of community pharmacists. Potential exists for further collaboration and interdisciplinary care in health promotion and screening services. Clarification is needed with respect to prescribing and provision of Pharmacist-Only Medicines, and offering consumer medicines leaflets

Medical cannabis: A needs analysis for people with epilepsy

Background and purpose: Medical cannabis may be effective treatment for refractory epilepsy. It is timely to seek users’ and potential users’ opinions in regard to its place in the management of epilepsy. Materials and methods: An online survey was administered to members of an epilepsy support organisation in Western Australia. Experience with cannabis for management of epilepsy was explored, along with desire to trial a particular pharmaceutical formulation(s). Results: People with epilepsy (33/71) and carers (38/71) participated. Fifty-four participants indicated no experience with medical cannabis, although 35, mainly with inadequate response to prescription medicines, were willing to ask for a prescription. Concerns included difficulty accessing cannabis and high cost of this treatment. Tablets/capsules was the most acceptable dosage form for development. Conclusion: These findings suggest wide interest in trialling medical cannabis in individual cases of refractory epilepsy, despite the developing body of literature and some concerns about cost and procurement

Intra-abdominal mass and iron deficiency anemia in a 15-year-old boy: Case report and literature review

Castleman\u27s disease is rare lymphoproliferative disorder that typically presents as a mediastinal mass, although 10% of cases may be intra-abdominal. Given its rarity, diagnosis is often delayed until other pathology has been ruled out. We present the case of a 15-year-old boy with a one-year history of progressive fatigue, failure to thrive, and severe iron resistant, iron deficiency anemia. Extensive work-up revealed an intra-abdominal mass. At laparotomy, a discrete lymphoid-appearing mass was found at the base of the mesentery. Excision led to rapid and complete resolution of his symptoms, including resolution of anemia. Pathology demonstrated Castleman\u27s disease of the hyaline vascular subtype. Increased awareness of this entity and its association with severe iron deficiency anemia though the overproduction of IL-6 may allow earlier detection and treatment. © 2014 The Authors. Published by Elsevier Inc. All rights reserved

Will Australians pay for health care advice from a community pharmacist? A video vignette study

Background: Large proportion of Australians have access to pharmacists' health advice at no cost. The impact of a proposed co-payment levy for general practitioner (GP) consultation by Australian government is unclear. This raises an interesting question about consumers' perceived value of health-related consultations. Objective: This survey of representative sample of Western Australians explores the hypothesis that Australians are willing to pay for advanced model of pharmacy consultation. Methods: Two videos illustrating current-services and quality-enhanced-service (QES) incorporating systematic assessment of symptoms and referral to GP if necessary, were used. Participants viewed videos online and completed a willingness-to-pay (WTP) questionnaire about their perception and WTP for each service. Logistic regression and McNemar tests were used to identify WTP groups. Results: Of the 175 respondents, one in nine (19/175, 11%) were willing to pay and (35/175) 20% might consider paying for advice at pharmacies as per current-practice. Almost one in four (49/175, 28%) were willing to pay and (47/175) 27% would consider paying for QES (McNemar Test P < 0.001). Conclusions: The majority of West Australians may be willing to pay for consultation at pharmacies that offers more private, time-intensive experience with documented GP referral where required. Further research is warranted to test WTP with actual customers to confirm these results

Interventions to Assist Health Consumers to Find Reliable Online Health Information: A Comprehensive Review

BACKGROUND: Health information on the Internet is ubiquitous, and its use by health consumers prevalent. Finding and understanding relevant online health information, and determining content reliability, pose real challenges for many health consumers. PURPOSE: To identify the types of interventions that have been implemented to assist health consumers to find reliable online health information, and where possible, describe and compare the types of outcomes studied. DATA SOURCES: PubMed, PsycINFO, CINAHL Plus and Cochrane Library databases; WorldCat and Scirus ‘gray literature’ search engines; and manual review of reference lists of selected publications. STUDY SELECTION: Publications were selected by firstly screening title, abstract, and then full text.DATA EXTRACTION: Seven publications met the inclusion criteria, and were summarized in a data extraction form. The form incorporated the PICOS (Population Intervention Comparators Outcomes and Study Design) Model. Two eligible gray literature papers were also reported. DATA SYNTHESIS: Relevant data from included studies were tabulated to enable descriptive comparison. A brief critique of each study was included in the tables. This review was unable to follow systematic review methods due to the paucity of research and humanistic interventions reported. LIMITATIONS: While extensive, the gray literature search may have had limited reach in some countries. The paucity of research on this topic limits conclusions that may be drawn.CONCLUSIONS: The few eligible studies predominantly adopted a didactic approach to assisting health consumers, whereby consumers were either taught how to find credible websites, or how to use the Internet. Common types of outcomes studied include knowledge and skills pertaining to Internet use and searching for reliable health information. These outcomes were predominantly self-assessed by participants. There is potential for further research to explore other avenues for assisting health consumers to find reliable online health information, and to assess outcomes via objective measures