bluuebunny/crossref_metadata_2025 huggingface dataset:
Gender Will Find a Way: Exploring How Male Elementary Teachers Make Sense of Their Experiences and Responsibilities
Authors: Ashcraft Catherine , Sevier Brian
Published: July 2006

In recent years, public discussions over the socialization of boys have increased dramatically. These concerns have fueled a number of proposed remedies, one of which has been a push to increase the presence of men in elementary schools. To date, however, this call for increased male participation in elementary education has focused primarily on boosting the numbers of men in the field. The authors contend that simply increasing male representation is not enough. Drawing from interviews with fourteen male elementary teachers, they explore how these teachers understood and talked about their experiences and responsibilities as male teachers. At times, they illustrate ways in which they drew from dominant discourses of gender, race and class to make sense of their experiences and responsibilities. At the same time, the authors highlight moments of instability and/or potential disruptions to these discourses as men sometimes challenged or questioned traditional narratives of gender. They then identify implications for teacher education, professional development, public rhetoric and debate, and future efforts to recruit and incorporate more male teachers.
A Critical Politics of Knowledge: Analyzing the Role of Educational Psychology in Educational Policy
Authors: Kincheloe Joe L.
Published: July 2006

This article examines the ideological dimensions of educational psychology and psychometrics as they relate to the validation of the ‘intelligence’ of the privileged and the ‘deficiency’ of the marginalized. In this critique a critical psychology emerges that takes seriously the lifeworld experiences of culturally and politically oppressed groups. This critical intervention in psychology forces the field to confront its class elitism, Eurocentrism, and patriarchy, as well as the epistemological foundations on which it is constructed. Here the abstracted study of individual minds is rejected for a more contextualized view. Mind in the critical view is more a distributed concept than an autonomous, isolated one bounded by the border of the brain. In this context the ideological dimensions of psychology can be challenged.
The Knowledge Society and Educational Science
Authors: Sünker Heinz
Published: July 2006

This article examines diverse approaches claiming to analyse new modes of connecting knowledge and society: to depict the rise of the knowledge society or dealing with the social analysis of a new type of capitalism in the shape of informational capitalism. Against these backgrounds it highlights the possible role of education in overcoming the capitalist mode of societalisation, making use of a critical social knowledge for establishing a democratic society.
Pedagogic Professionalism Defi(1)es the Knowledge Economy? Some Preliminary Notes
Authors: Kessl Fabian , Otto Hans-Uwe
Published: July 2006

The ability to generate and process information, and hence the availability of knowledge has increasingly shifted to the foreground of the new knowledge societies. At the same time, traditional systems of knowledge production (science) and knowledge reception (professions) are subjected to a steady loss of legitimacy. Within this context, pedagogic professions, which in their struggle for social recognition have never been able to achieve the status of a classical profession such as medicine, are confronted with their own ideas of themselves. The article discusses this context against the backdrop of reconstructing a central, knowledge-based, economic rationality and suggests working out a model of attentive-reflexive professionalism as an alternative to knowledge management processes for reforming the present evidence-based professions.
Knowledge and Self-Efficacy as Predictors of Political Participation and Civic Attitudes: With Relevance for Educational Practice
Authors: Solhaug Trond
Published: July 2006

The results reported in this article are part of a larger study of the political competencies of students in Norwegian upper secondary school. The main focus of this study is how to teach civics in secondary school as a preparation for democratic citizenship. In this study, it is argued that self-efficacy and motivation, in addition to knowledge, are key competence variables that should be studied simultaneously. Five similar causal models are constructed to explore the relationship between the competence variables and various forms of political participation, tolerance and involvement. Five structural equation models (SEMs) are then estimated using LISREL. The main results for the three mediation variables are as follows: self-efficacy is a stronger predictor of motivation and three aspects of political participation than knowledge. Knowledge, on the other hand, is moderately related to motivation, but is a stronger predictor of civic attitudes than self-efficacy, while motivation is a strong predictor of both future participation and civic attitudes. The results thus confirm that competence other than knowledge is vital to civic participation. Finally, the relevance of these results for civic education in upper secondary schools is discussed. It is emphasized that enhancing students’ self-efficacy in the political field (often referred to as ‘internal political efficacy’) may be of equal, if not greater, importance for school education as promoting civic competence.
Higher Education, Development and the Learning Economy
Authors: Peters Michael A.
Published: July 2006

This article reviews the claims for the new economy as necessary background to analyzing changes in knowledge production and the role of the university in the so-called learning economy. The article develops an argument for ‘knowledge networks’ as a basis for the university to promote regional development at home and international development abroad.
How self‐relevant imagination affects memory for behaviour
Authors: Thomas Ayanna K. , Hannula Deborah E. , Loftus Elizabeth F.
Published: July 2006

Research has demonstrated that imagination can be used to affect behaviour and also to distort memory, yet few studies have examined whether the effects of imagination on behavioural estimates and memory are related. In two experiments, the effects of imagination on self‐reported behaviour and subsequent memory for that behaviour were investigated. A comparison of behavioural estimates collected before and after imagination demonstrated that reported estimates of behaviour changed after imagination. In addition, memory for the original estimates of behaviour was also affected, suggesting that imagination may impair one's ability to remember originally reported behaviour. Experiment 2 demonstrated that the observed changes in reported behaviour were accompanied by the largest errors in memory for originally reported behaviour when participants generate images based on self‐relevant scenarios. On the other hand, memory distortion was minimized when participants read but did not imagine self‐relevant scenarios. These results have direct application to clinicians and researchers who employ imagination techniques as behavioural modifiers, and suggest that techniques that are self‐relevant but do not include imagery may be a useful alternative to imagination. Copyright © 2006 John Wiley & Sons, Ltd.
Negative‐Index Materials: New Frontiers in Optics
Authors: Soukoulis C. M. , Kafesaki M. , Economou E. N.
Published: July 2006

A lot of recent interest has been focused on a new class of materials, the so‐called left‐handed materials (LHMs) or negative‐index materials, which exhibit highly unusual electromagnetic properties and hold promise for new device applications. These materials do not exist in nature and can only be fabricated artificially; for this reason, they are called metamaterials. Their unique properties are not determined by the fundamental physical properties of their constituents, but rather by the shape and distribution of the specific patterns included in them. Metamaterials can be designed to exhibit both electric and magnetic resonances that can be separately tuned to occur in frequency bands from megahertz to terahertz frequencies, and hopefully to the visible region of the electromagnetic spectrum. This article presents a short history of the field, describes the underlying physics, and reviews the experimental and theoretical status of the field at present. Many interesting questions on how to fabricate more isotropic LHMs, on how to push the operational frequency to optical wavelengths, how to reduce the losses, and how to incorporate active or nonlinear materials in LHMs remain to be explored further.
Frontometaphyseal dysplasia: Mutations in FLNA and phenotypic diversity
Authors: Robertson Stephen P. , Jenkins Zandra A. , Morgan Timothy , Adès Lesley , Aftimos Salim , Boute Odile , Fiskerstrand Torunn , Garcia‐Miñaur Sixto , Grix Arthur , Green Andrew , Kaloustian Vazken Der , Lewkonia Ray , McInnes Brenda , van Haelst Mieke M. , Macini Grazia , Illés Tamás , Mortier Geert , Newbury‐Ecob Ruth , Nicholson Linda , Scott Charles I. , Ochman Karolina , Brożek Izabela , Shears Deborah J. , Superti‐Furga Andrea , Suri Mohnish , Whiteford Margo , Wilkie Andrew O.M. , Krakow Deborah
Published: July 2006

Frontometaphyseal dysplasia is an X‐linked trait primarily characterized by a skeletal dysplasia comprising hyperostosis of the skull and modeling anomalies of the tubular bones. Extraskeletal features include tracheobronchial, cardiac, and urological malformations. A proportion of individuals have missense mutations or small deletions in the X‐linked gene, FLNA. We report here our experience with comprehensive screening of the FLNA gene in a group of 23 unrelated probands (11 familial instances, 12 simplex cases; total affected individuals 32) with FMD. We found missense mutations leading to substitutions in the actin‐binding domain and within filamin repeats 9, 10, 14, 16, 22, and 23 of filamin A in 13/23 (57%) of individuals in this cohort. Some mutations present with a male phenotype that is characterized by a severe skeletal dysplasia, cardiac, and genitourinary malformations that leads to perinatal death. Although no phenotypic feature consistently discriminates between females with FMD who are heterozygous for FLNA mutations and those in whom no FLNA mutation can be identified, there is a difference in the degree of skewing of X‐inactivation between these two groups. This observation suggests that locus heterogeneity may exist for this disorder. © 2006 Wiley‐Liss, Inc.
Mild craniosynostosis with 1p36.3 trisomy and 1p36.3 deletion syndrome caused by familial translocation t(Y;1)
Authors: Hiraki Yoko , Fujita Hiroko , Yamamori Shunji , Ohashi Hirofumi , Eguchi Maki , Harada Naoki , Mizuguchi Takeshi , Matsumoto Naomichi
Published: July 2006

We report on a 20‐year‐old man and a 16‐year‐old woman with a chromosomal imbalance derived from a balanced translocation, t(Y;1)(q12;p36.3) of the father. The man had a partial trisomy for 1p36.3‐pter [46,X,der(Y)t(Y:1)(q12;p36.3)] and mild craniosynostosis of metopic and sagittal sutures as well as a borderline mental impairment, while the woman with a deletion for 1p36.3‐pter [46,XX,der(1)t(Y;1)(q12;p36.3)] showed dysmorphic face with large anterior fontanel and severe developmental delay. Fluorescence in situ hybridization (FISH) showed that his trisomy spanned the 5.3‐Mb region from 1p telomere harboring the critical region for craniosynostosis. To our knowledge, the man is the first case of a pure type of simple 1p36.3 trisomy as the effect of heterochromatic Yq12‐qter deletion likely does not affect phenotype. © 2006 Wiley‐Liss, Inc.
Two sisters with IMAGe syndrome: Cytomegalic adrenal histopathology, support for autosomal recessive inheritance and literature review
Authors: Tan Tiong Yang , Jameson J. Larry , Campbell Peter Ellis , Ekert Paul G. , Zacharin Margaret , Savarirayan Ravi
Published: July 2006

Adrenal hypoplasia congenita (AHC) is a rare condition and causes primary adrenal insufficiency. X‐linked (OMIM 300200) and autosomal recessive (OMIM 240200) forms are recognized. Recently, an association between Intrauterine growth restriction, Metaphyseal dysplasia, Adrenal hypoplasia congenita, and Genital abnormalities (IMAGe syndrome; OMIM 300290) has been described. We present the clinical features of two sisters with intrauterine growth restriction, AHC, and dysmorphic features. Interesting histopathologic findings of one sister are also presented. We suggest that IMAGe syndrome is the most plausible diagnosis and that autosomal recessive inheritance is likely. We analyzed genes that were postulated candidates for IMAGe syndrome (SF1, DAX‐1, and STAR), and no mutations were found. Other cases of IMAGe syndrome are reviewed. © 2006 Wiley‐Liss, Inc.
Muscle involvement and motor function in amyoplasia
Authors: Kroksmark Anna‐Karin , Kimber Eva , Jerre Ragnar , Beckung Eva , Tulinius Mar
Published: July 2006

The most common form of arthrogryposis multiplex congenita (AMC) is amyoplasia. Diagnostic criteria are highly specific, with decreased muscle mass, typical contractures and limb positioning at birth. Intellectual development is normal. The aims of this study were to investigate how muscle strength and contractures affect motor function in amyoplasia, and to relate current functional status to joint positions at birth. Medical records were reviewed and a clinical examination was performed, with investigation of muscle strength, range of motion, and motor function. Thirty‐five patients with amyoplasia participated and were divided into three functional groups: 11 community ambulators, 11 household ambulators, and 7 non‐ambulators. Six children less than 2 years old were not categorized. Community ambulators had the best muscle strength and none had knee flexion contractures extending 20 degrees. Household ambulators had severe contractures in the lower limbs, but good muscle strength in the upper limbs. Non‐ambulators had most severe contractures and most severely reduced muscle strength. Most of the non‐ambulators were born with hips in severe abduction, flexion and external rotation. Good and very good correlations were found between muscle strength and motor function, and only moderate correlations between range of motion and motor function. We conclude that more attention should be paid to developing muscle strength, with early stimulation of active movement, and that periods of immobilization should be minimized. Further, ultrasound or MRI of muscle tissue in the newborn period would be useful to evaluate prerequisites for future development of muscle strength and thereby anticipate response to therapy. © 2006 Wiley‐Liss, Inc.
Postnatal growth of the ventral prostate in Wistar rats: A stereological and morphometrical study
Authors: Vilamaior Patrícia S.L. , Taboga Sebastião R. , Carvalho Hernandes F.
Published: July 2006

Morphological and stereological analyses were used to characterize the growth kinetics of the Wistar rat ventral prostate (VP). Volume density and absolute volume of the epithelium, lumen, smooth muscle cells (SMCs), and nonmuscular stroma were determined by stereology and paired with plasma testosterone levels and different morphometric measurements. The VP shows an initial growth within the first 3 weeks, a resting phase, and the puberal growth. The puberal growth was coincident with the raise in plasma testosterone. Lumen formation occurred within the 3 postnatal weeks. After an expected increase during puberty, the lumen showed a further increase at the 12th week. The volume density of the nonmuscular stroma and of the SMCs decreased slowly postnatally. Absolute volume of the luminal compartment showed three phases of growth (weeks 1–3, 6–9, and 11–12). On the other hand, the increase in the absolute volume of the epithelium was steady up to the 8th week and then showed a marked increase up the 10th week. The increase in epithelial volume was characterized morphologically by the presence of epithelial infoldings and sprouts. The growth of the epithelium showed a 2‐week delay as compared to the lumen and occurred only until the 10th week. The epithelial height was variable but could be related to the synthetic activity of the epithelium. In conclusion, the postnatal growth of the VP results from a combination of epithelial proliferation/differentiation and synthesis/accumulation of the secretory products in the lumen. Anat Rec Part A, 288A:885–892, 2006. © 2006 Wiley‐Liss, Inc.
Synthesis of Furo‐salicylanilides and Their Heterocyclic Derivatives with Anticipated Molluscicidal Activity
Authors: Hassan Ghaneya Sayed , Hegazy Gehan Hegazy , Safwat Hany Mohamed
Published: July 2006

The synthesis of new furo‐salicylanilides and their heterocyclic derivatives is described. Twenty‐three compounds were screened for their molluscicidal activity against Biomphalaria alexandrina snails, the intermediate host of Schistosoma mansoni. Five of the tested compounds showed no activity, while eighteen compounds showed strong to moderate activity using bayluscide as a reference.
A Femtosecond Study of Excitation‐Wavelength Dependence of Solvation Dynamics in a Vesicle
Authors: Sen Pratik , Ghosh Subhadip , Mondal Sudip Kumar , Sahu Kalyanasis , Roy Durba , Bhattacharyya Kankan , Tominaga Keisuke
Published: July 2006

The dependence of fluorescence and solvation dynamics of coumarin 480 (C480) in a dimyristoyl–phosphatidylcholine (DMPC) vesicle on excitation wavelength (λex) was studied with femtosecond fluorescence upconversion. The study revealed an ultrafast 1.5‐ps component of solvation that was not detected earlier. C480 exhibits pronounced red‐edge excitation shift (REES) by 10 nm in a DMPC vesicle. This is due to the microheterogeneity of the lipid vesicle. In lipids, the probe is distributed in different locations with varying static and dynamic electrostatic responses. Solvent relaxation becomes faster and the amount of dynamic Stokes shift decreases with increasing λex. For excitation at the red end (λex=430 nm), the solvation time was found to be 1.5 ps. However, for excitation at the blue end, (λex=390 nm), there are two substantially slower components of 250 and 2000 ps. It seems that for λex=390 nm, the major contribution to total emission is due to the probe (C480) molecules in the hydrophobic and restricted locations inside the lipid bilayer. Excitation at 430 nm preferentially selects the probe molecules in a highly mobile environment (water pool of the lipid).
Unexpected Chiroptical Inversion Observed for Supramolecular Complexes Formed between an Achiral Polythiophene and ATP
Authors: Li Chun , Numata Munenori , Takeuchi Masayuki , Shinkai Seiji
Published: July 2006

A series of supramolecular complexes between a water‐soluble achiral polythiophene derivative (PT‐1) and various nucleotides has been prepared. It was found that upon the introduction of adenosine diphosphate (ADP), adenosine triphosphate (ATP), and uridine triphosphate (UTP) into aqueous solutions of achiral PT‐1, which has a random‐coiled conformation, chiral supramolecular π‐stacked aggregates of PT‐1 can be constructed. These complexes exhibit an unique split‐type induced circular dichroism (ICD) in the π–π* transition region of the main chain. In particular, it was found that the Cotton effect of the chiral supramolecular PT‐1/ATP aggregates reveals a dramatic inversion of chirality with a change in the concentration of ATP, which has not been previously observed in chiral macromolecular complexes. On the basis of extensive investigations performed with UV/Vis spectroscopy, CD spectroscopy, TEM, AFM, and dynamic light scattering (DLS), a possible mechanism for the formation of chiral superstructures of PT‐1 and chiroptical inversion induced by changes in ATP concentration is proposed.
Diffusion‐Influenced Reversible Trapping Problem in the Presence of an External Field
Authors: Park Soohyung , Shin Kook Joe
Published: July 2006

We investigate the field effect on the diffusion‐influenced reversible trapping problem in one dimension. The exact Green function for a particle undergoing diffusive motion between two static reversible traps with a constant external field is obtained. From the Green function, we derive the various survival probabilities. Two types of trap distribution for the many‐body problem are considered, the periodic and random distributions. The mean survival probability is obtained for the crossing‐forbidden case for the two types of trap distribution. For the periodic distribution it decays exponentially. For the random trap distribution, similar to the irreversible case, there exists a critical field strength at which the long time asymptotic behavior undergoes a kinetic transition from the power law to exponential behaviors. The difference between equilibrium concentrations for the two types of trap distribution due to the fluctuation effect of trap concentration vanishes as the field strength increases.
Flavin‐Catalyzed Oxidation of Amines and Sulfides with Molecular Oxygen: Biomimetic Green Oxidation
Authors: Imada Yasushi , Iida Hiroki , Ono Satoshi , Masui Yoshiyuki , Murahashi Shun‐Ichi
Published: July 2006

Flavin‐catalyzed green oxidation of heteroatom compounds such as sulfides and amines with molecular oxygen and even air in the presence of hydrazine monohydrate in a fluorous solvent such as 2,2,2‐trifluoroethanol at room temperature gives the corresponding oxidation products highly efficiently and selectively along with water and molecular nitrogen, which are environmentally benign by‐products. The proposed reaction mechanism is based on the kinetics, solvent effect, and redox properties of flavin catalysts.
Shareholder wealth effects of private placements of debt made by REITs
Authors: Higgins Eric , Howton Shawn , Howton Shelly
Published: July 2006

This study examined both the short‐run and long‐run shareholder wealth effects of private placements of debt made by Real Estate Investment Trusts (REITs). The authors found that there is no significant market reaction to the placement. One‐year and three‐year adjusted abnormal returns were found to be negative and significant for placing REITs. This suggests that REITs do not benefit from added monitoring associated with the private placement. The results also suggest that REIT managers issue in order to grow the asset size of the firm to the detriment of shareholder wealth. Copyright © 2004 Henry Stewart Publications
Overage — approaches and pitfalls
Authors: Jessel Christopher
Published: July 2006

Overage or clawback is the right of the seller of land to claim an additional payment, perhaps many years after sale, if the land increases in value as a result of an event such as the grant of planning consent. The paper considers the legal issues involved and problems in implementing the arrangements. The parties need to agree when payment is due (as on grant of consent, resale or occupation) and the amount (often a proportion of the uplift in value).

The methods in common use are discussed, including promise to pay, positive covenant (with restriction on the register of title or right of re‐entry), restrictive covenant, charge, ransom strip, leases and other approaches, as well as the possibility of avoidance devices and refers to the recent House of Lords decision in A‐G v Black. The importance of a flexible approach is emphasised. Copyright © 2001 Henry Stewart Publications
Capital allowances: do they reduce lending risk?
Authors: Llewellyn Tony
Published: July 2006

Most property valuations ignore tax issues as instructed to do so by the valuation guidelines. This paper highlights the cash savings that are available in some properties from the tax relief generated from capital allowances, and how they affect the return on investment. As the driver for investment in the commercial property market in the UK is shifting from capital growth to income, the post‐tax position becomes more important. This paper therefore makes a case for looking beyond the ‘Red Book’ valuation when re‐examining loan to value ratios in a changing market. Copyright © 2004 Henry Stewart Publications
Best practices in commercial real estate financing ground rent adjustment formulas: the developer's and the lender's point of view
Authors: Konikoff Paula K.
Published: July 2006

Long‐term leases, be they ground leases or net leases on improved property, have characteristics distinct from short‐term space leases. From the financial perspective, the most distinctive provisions are those that control the rent resetting.[Sample lease provisions are included in the Appendix.] It is important to remember that each long‐term lease is unique: the parties have the ability to define each transaction in terms of the financial terms of rent determination, the manner in which the rent increases, how any appraisals will be performed for purposes of rent resetting and which method of dispute resolution will be used for rent resetting purposes.

This paper examines rent resetting issues: the rent calculations, methods of determining future rent, valuation/arbitration clauses and specific valuation issues, bearing in mind that the developer and the lender often have different goals throughout the lease term. Copyright © 2004 Henry Stewart Publications
Real estate finance risk appraisal: lessons from the past
Authors: Morton‐Smith Jon
Published: July 2006

History is important — the lessons that each of us can learn from our own experience and that of others before us can always help in formulating our views, opinions and strategies for the future.

A sound and understanding relationship between lender and borrower is essential. The temptation to borrow heavily is all the stronger as interest rates fall and when inflation is low — but it is not so much the absolute level that is the issue, but the overall capacity of net incomes to sustain appropriate debt servicing (interest and amortisation) over time.

Historically, the too heavy reliance of some lenders on the ‘valuation’ has resulted in disaster! The tales of woe and misunderstanding between those who instruct, those who advise and the borrower are legion and the subject of incredulous after‐dinner stories. But the desire to put the done deal behind you and pay scant regard to the required and sometimes received management information, tenants schedule, managing agent reports, audited accounts (and anything else that seemed like a good idea to ask for at the time), must be resisted at all costs! It may well be that a lender can be properly satisfied with a direct first legal charge over the property in isolation. However, most real estate loans are not sound enough to do without protection from the actions of others or where the continuing viability of the principals is not important.

Of course, there are enormous and demanding lessons to be found from the past and they can be related to the very different investment and debt markets today. Copyright © 2001 Henry Stewart Publications
Structuring development joint ventures
Authors: Thomas John E.
Published: July 2006

This paper outlines how capitalisation of real estate has changed in the last 20 years, especially for development projects. Capital providers have also changed, and the type of provider generally indicates the level of acceptable risk tolerance for a transaction. The paper looks at the different structures used by developers and capital sources in structuring development transactions, which includes the advantages and disadvantages of each structure. Copyright © 2001 Henry Stewart Publications
Structural breaks, diversification and international real estate markets — some new evidence
Authors: Wilson Patrick J. , Zurbruegg Ralf
Published: July 2006

This paper presents further evidence that real estate markets around the world are interrelated. Although it is shown that an initial examination may reveal that international real estate markets are not linked, once structural changes are accounted for, it becomes apparent that there are long‐running relationships in securitised real estate returns across the world. This paper also shows that monetary changes in the USA – the world's leading economy – can impact on international real estate markets. This has major implications for investment and fund managers alike, who must reconsider the benefits of international real estate diversification. Copyright © 2002 Henry Stewart Publications
Valuing lender‐paid mortgage insurance in mortgage‐backed security and asset‐backed security transactions
Authors: Lipton Andrew , Rao Shiv
Published: July 2006

Lender‐paid mortgage insurance (MI) can provide substantial credit enhancement in mortgage‐backed and mortgage‐related asset‐backed transactions. In some cases, lender‐paid MI has contributed more than 75 per cent of the total credit enhancement for the most senior classes.

Lender‐paid MI offers insurance coverage at the individual loan level. In most respects, lender‐paid MI policies are generally similar to traditional borrower‐paid policies. Lender‐paid MI has no impact on the frequency of borrower default, but it serves to reduce the severity of loss when borrowers default.

Because lender‐paid policies offer coverage on individual loans, the benefit from the policies is limited to the amounts paid by the insurer on each individual defaulted loan, ie the insurance does not ‘cross‐collateralise’ the loans. Therefore, if the loss on a defaulted loan is less than the maximum coverage of the insurance policy, the additional coverage cannot be applied to losses on other defaulted loans whose claims exceed their insurance coverage. The wider the range in loss severity on defaulted loans, the less the benefit that lender‐paid MI offers. The amount of credit enhancement that lender‐paid MI brings to a transaction is directly related to the level of coverage, the number and quality of loans covered, and to any exclusions from coverage. The benefit is also dependent on a loan originator's business practices, particularly with respect to appraisals. Overstated appraisals may cause the MI coverage to be insufficient to cover actual losses. In addition, a servicer's ability to foreclose on defaulted loans and to process claims in a timely fashion is important, because failure to perform these actions may result in a claim adjustment or denial. Because lender‐paid MI cannot be cancelled in securitised transactions, it is marginally more durable than borrower‐paid MI. Finally, the benefit from lender‐paid MI also depends on the rating of the insurance provider. Generally, the insurance provider should have a rating of Aa3 or higher for the Aaa classes in a transaction to get the full credit that the insurance can provide. Because the benefit is dependent on the insurer's rating, transactions that rely on mortgage insurance for a significant percentage of their total credit enhancement are susceptible to downgrade risk if the insurer's rating drops. Copyright © 2002 Henry Stewart Publications
The Beijing office market: its current status and opportunities for international development and investment financiers
Authors: Cao J. Albert , Edwards Victoria
Published: July 2006

Beijing is one of the two international business cities in mainland China because of its status as the capital and the rapid development of its economy and infrastructure. However, its office market has experienced two major cycles that witnessed wide variations in rental values and vacancies. The institutional arrangements surrounding the office market are the ultimate source of uncertainty. As the city attaches political objectives into its new round of large‐scale office development, especially the designation and construction of the central business district, potential over supply and a third major cycle loom large. However, institutional change prompted by the ruling party and supported by the public is moving to eradicate the incentives of excessive risk taking in office developments in Beijing's competitors. The risks in office investments in Beijing thus depend on whether Beijing can catch up with others to support a transparent and fair land market and planning control system. If so, opportunities are available to international investors to benefit from the fast growth of the office market by financing and purchasing office developments. Copyright © 2002 Henry Stewart Publications
The US economy: a mid‐year review and outlook
Authors: Louargand Marc
Published: July 2006

At mid‐year the US is experiencing a weak economic recovery that offers little hope of an early rebound in the real estate space markets. Hotel and office properties were the hardest hit by the slowdown, but apartments and warehouse properties have been affected as well. Conversely, the real estate capital markets are quite strong with no evidence of price weakness. The apparent dichotomy may reflect a repricing of real estate to bring it more in line with its long run risk premium. If so, today's prices may look like bargains in a year or two. Copyright © 2002 Henry Stewart Publications.
A critique of using real options pricing models in valuing real estate projects and contracts
Authors: Oppenheimer Pete H.
Published: July 2006

Discounted cash flow (DCF) models have been criticised for using risky discount rates and subjective estimates of future cash flows. In addition, DCF models do not incorporate valuations of implicit options imbedded in capital projects. Recently, researchers have applied real options pricing models to evaluate real estate projects and contracts. However, the required assumptions and criteria for using these models may be absent in real estate projects, which raises the question whether these models produce better results or create more uncertainties for end users. This paper contains a review of the conditions and methods that have been proposed for applying real option models in real estate valuations. Copyright © 2002 Henry Stewart Publications
Accounting practice in the post‐Enron era: the implications for financial statements in the property industry
Authors: Holt Andrew , Eccles Timothy
Published: July 2006

The corporate failure of the Enron Corporation made world headlines for many reasons — greed, alleged malpractice and criminal behaviour, and the sheer size and speed of its collapse. A critical factor in Enron's demise was the use of creative and manipulative accounting practices to distort reported profitability and indebtedness. This paper uses the Enron case and similar financial events to highlight the accounting issues arising from recent corporate failures, and to examine the implications for the future. These include whether it could happen outside the USA, what lessons are being learned and the implications for those involved in real estate and property management. The case argued here is that all financial statements are simply artificially constructed realities attempting to describe the (financial) well being of a company within a framework of prescribed rules determined by socio‐economic debates. The perceived laxness of US accounting regulations compared with UK and International Accounting Standards (IAS) adds weight to the calls for adoption of universal standards within the USA, since Europe claims — with some qualification — that ‘it could not happen here’. Copyright © 2003 Henry Stewart Publications
Using offshore holding vehicles for property investment: the benefits of the Channel Islands
Authors: Lombardi Michael , Kershaw Nick
Published: July 2006

This paper outlines the principal reasons why commercial real estate investors are increasingly structuring investment in UK and European property indirectly through the use of offshore holding vehicles, and reviews the structuring options available. Copyright © 2003 Henry Stewart Publications
A review of commercial mortgage loan servicing best practice in the USA
Authors: Vestewig Robert P.
Published: July 2006

This paper analyses the commercial mortgage loan servicing business in the USA, including historical background, the various loan servicing business models in use, the characteristics of the large third‐party loan servicing companies, the duties involved in US‐style commercial mortgage loan servicing, the differences between servicing of portfolio (on book) loans and loans securitised in pools, servicing fees and loan servicing technology. Readers considering investing in US commercial mortgages may benefit from information on US servicing practices. Although some of the US loan servicing duties may not be applicable in other countries, the international reader may also benefit from considering specific duties such as collateral review and portfolio surveillance, understanding the differences between portfolio loan and securitised loan servicing, noting the application of technology to operational processes freeing up staff for personal contact with lenders and borrowers, and noting how technology can produce a better servicing product for lender and borrower, through such features as borrower and lender websites and document imaging. Copyright © 2003 Henry Stewart Publications
Best practices in commercial real estate financing: the borrower's agenda in negotiating loan documents
Authors: Stein Joshua
Published: July 2006

How should a borrower respond to a draft set of commercial mortgage loan documents? This paper, consisting of four quarterly instalments appearing in the 2003/2004 volume of this publication, seeks to answer that question. The author discusses business and legal issues that mortgage loan documents typically raise for a borrower; some structural variations and the special concerns they might create; the closing process; and some issues that a borrower may want to raise on its own initiative. Copyright © 2003 Henry Stewart Publications
The outlook for the UK economy: 2002 the weakest for a decade, but subdued recovery expected
Authors: O'Carroll Lucy
Published: July 2006

The outlook for the UK economy is reasonably positive, but the risks remain large. The global recovery appears to have stalled, creating continued uncertainty for the UK's trade‐exposed sectors, such as manufacturing. At the same time, domestic demand is showing signs of slowing more rapidly than anticipated six months ago. In this environment, business propositions should be examined for vulnerability to the slowdown in consumer demand and the retail sector. Overall, however, UK economic activity remains well placed to pick up during 2003, with the labour market remaining robust and monetary and fiscal policy both accommodative. Therefore although growth in capital values is expected to moderate, it is likely to remain healthy. Copyright © 2003 Henry Stewart Publications
Corporate property sale and leaseback securitisation
Authors: Richard Pascal
Published: July 2006

This paper is adapted from a Fitch Ratings report, published in December 2002, entitled ‘Securitisation of corporate sale and leaseback’. The report describes the credit rating agency's approach to analysing such transactions and outlines some of the key issues which Fitch believes should be taken into account by debt investors when investing in property sale and leaseback securitisation. This paper provides an introduction to property securitisation and presents the fundamentals to understanding property sale and leaseback securitisation. Copyright © 2003 Henry Stewart Publications
Incorporating sustainable business practices into company strategy
Authors: Fowler S. J. , Hope C.
Published: July 2006

Building on Hart's natural resource‐based view of the firm, this paper reports the results of a case study of the privately owned, high‐end outdoor apparel company Patagonia. In this study we examined Hart's three interlinking strategies of pollution prevention, product stewardship and sustainable development, and sought to test whether the resources for their implementation must be accumulated sequentially or whether they can be accumulated in parallel. The case study revealed that Patagonia has made significant progress, and continues to make progress, in each of these three areas. The results also suggested that the company's progress in one area has not necessarily been dependent on progress in another. While acknowledging the limitations of a single case study, we conclude that Patagonia's experience offers strong support for the notion that the resources for implementing strategies towards sustainable development can be accumulated in parallel – as opposed to sequentially. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment.
Natural environmental disclosures: strategic responses by Port Moresby Stock Exchange entities
Authors: Brown Alistair M.
Published: July 2006

This paper discusses the components of a simplified natural environment disclosure (NED) index that accommodates a developing country setting, and examines the level of NED in annual reports of all Port Moresby Stock Exchange (POMSoX) entities of Papua New Guinea for 2002. The results of the study found a low level of NED consistent with what Brown and Tower (2002) coin a traditional reporting model, although POMSoX entities showed a much higher level of NED than their Pacific Island Country counterparts. A number of conventional accounting predictors were put forward to explain the level of NED. None of the predictors explained aggregated NED, but some of the predictors, most notably stock exchange listing, explained some individual components of NED. The very low level of NED flies in the face of much natural environmental regulation in PNG. Clearly, POMSoX regulations, POMSoX entities and international accounting advisers need to focus on the reporting of natural environmental issues if environmental accounting is to take shape in this part of the developing world. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment.
Factors influencing the quality of corporate environmental disclosure
Authors: Brammer Stephen , Pavelin Stephen
Published: July 2006

Many firms choose to communicate their environmental strategies through voluntary environmental disclosures. This paper examines patterns in the quality of voluntary environmental disclosures made by a sample of around 450 large UK companies drawn from a diverse range of industrial sectors. The analysis distinguishes between five facets of quality, including the disclosure of group‐wide environmental policies, environmental impact targets and an environmental audit. We examine how the decisions firms face regarding each facet of quality are determined by firm and industry characteristics, and find the quality of disclosure to be determined by a firm's size and the nature of its business activities. Specifically, we find high quality disclosure to be primarily associated with larger firms and those in sectors most closely related to environmental concerns. In contrast to several recent contributions, we find that the media exposure of companies plays no role in stimulating voluntary disclosures. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment.
Attitudinal and consumption differences among traditional and nontraditional ‘childless’ couple households
Authors: Lee Dong Hwan , Schaninger Charles M.
Published: July 2006

This study develops a classification scheme that effectively separates delayed marriage and true childless couples from delayed empty nest couples, newlywed and traditional empty nest couples. Unlike extant traditional and ‘modernised’ life cycle models, this approach separates true childless and delayed marriage childless couple households from their traditional counterparts using the couples' length of marriage and wife's age. It also uses couples' ages at marriage to separate delayed from the traditional empty nest households. The findings clearly indicate that nontraditional ‘childless couples’ differ from their traditional counterparts in underlying values, sex role norms, and attitudes, as well as in food and beverage consumption and major durable acquisition patterns. Implications of this classification scheme for comprehensive life cycle models and future research and managerial applications of these findings are also discussed. Copyright © 2003 Henry Stewart Publications.
Is ‘culture’ a justifiable variable for market segmentation? A cross‐cultural example
Authors: Lindridge Andrew , Dibb Sally
Published: July 2006

This paper investigates whether culture can be used to segment a market. Using Indians, resident in Britain (British Indians) as an example, previous research suggests that culture's manifestation within buyer behaviour provides sufficient evidence to justify its use as a market segment variable. Using brown goods (television sets, video equipment, music systems etc) a comparative quantitative study examined the impact of a range of cultural values upon the buying behaviour of British Indians and British Caucasians, to identify significant differences between the two. Although a significant difference was found, the amount of similarity between the two sample groups suggests culture should not be used as a segmentation variable. This research has implications for organisations seeking to develop ethnic minority orientated marketing strategies. Copyright © 2003 Henry Stewart Publications.
Practice papers personal financial services in a digital age
Authors: Radford Marilyn
Published: July 2006

Co‐operative Bank Financial Advisers Ltd (CBFA) is a wholly‐owned subsidiary of the Co‐operative Bank plc. Established since 1972, it specialises in the provision of independent financial advice to personal and corporate customers across the financial services spectrum. Based in Stockport in the north‐west of the UK, CBFA conducts its business via a nationally‐based team of independent financial advisers (IFA), offering a bespoke service to customers at a mutually agreed time and location—usually bank premises, business premises or in the client's own home.

In the late 1990s, CBFA faced a crisis. A number of marketplace challenges threatened the long‐term viability of its business. In this paper, one of the management team members describes how her organisation used its understanding of customer decision‐making—backed by good customer research—to regain its footing in a difficult and competitive marketplace. Copyright © 2003 Henry Stewart Publications.
A cross‐cultural assessment of attitudes regarding perceived breaches of ethical conduct by both parties in the business‐consumer dyad
Authors: Fisher Jim , Woodbine Gordon , Fullerton Sam
Published: July 2006

Recent initiatives in business curricula have included emphases on global business and ethics. Using 28 scenarios which reflect potential concerns regarding the conduct of either business or a consumer, this research combines these issues by comparing the ethical predisposition of business students in Australia with their Canadian counterparts. A sample of 264 students indicated that students in both countries generally hold high expectations for the behaviour of business and consumers. Both groups exhibited quite similar views in relation to the 28 consumer and business‐related scenarios. When comparing Canadian students to Australian students, four significant differences were documented in the 14 scenarios which address the behaviour of business entities. The assessment of attitudes regarding questionable consumer actions provided even more homogeneity as only one statistically significant difference was identified. The study concludes by documenting a series of attitudinal differences on the part of groups defined not by nationality, but rather on the basis of gender or age. These demographic differences were more pronounced than were the differences across the two countries. Copyright © 2003 Henry Stewart Publications.
Self‐service – a contradiction in terms or customer‐led choice?
Authors: Howard Melanie , Worboys Caroline
Published: July 2006

This paper explores the reality of self‐service today from the customer perspective and identifies what organisations need to do to maximise their contribution to improving customer service in the future. It is based on the findings of an extensive study, including original consumer research and analysis, undertaken by the Future Foundation that was sponsored by a consortium of companies consisting of Broadsystem, BT, mmO2, BUPA and GIMRA (General Insurance Market Research Association). It is structured around a series of questions that the research was designed to answer, with clear recommendations for businesses coming out of each section. Copyright © 2003 Henry Stewart Publications.