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The human development index (HDI) and gender‐related development index (GDI) have become accepted as leading measures for ranking human well being in different countries. The purpose of this paper is to identify the planning policies that improve these indices and to also suggest modifications to the indices that yield more sensible policies.Design/methodology/approach – This paper solves the first‐best welfare problem in which the planner maximizes a development index subject to resource constraints.Findings – Planning strategies that maximize the HDI tend towards minimizing consumption and maximizing expenditures on education and health. Interestingly, such strategies also tend towards equitable allocations, even though inequality aversion is not modelled in the HDI. The paper shows that the GDI generates optimal plans with similar properties, and determine when the GDI and HDI generate consistent optimal plans. A problematic feature of the optimal plans is that the income component in the HDI (or GDI) does not play its intended role of securing resources for a decent standard of living. Rather, it acts to distort the allocation between health and education expenditure. The paper argues that it is better to drop income from the index. Alternatively, the paper considers net income, income net of education and health expenditures, as indicating capabilities not already reflected in the index. Finally, it compares how the modified indices and the HDI rank countries.Originality/value – The paper is believed to be the first to integrate development indices into national development planning.

To design a robust attitude control system for the ascent flight phase of satellite launch vehicles (SLVs).

The autopilot is based on generalized dynamic inversion (GDI). Dynamic constraints are prescribed in the form of differential equations that encapsulate the control objectives, and are generalized inverted using the Moore-Penrose Generalized Inverse (MPGI) based Greville formula to obtain the control law. The MPGI is modified via a dynamic scaling factor for assuring generalized inversion singularity-robust tracking control. An additional sliding mode control (SMC) loop is augmented to robustify the GDI closed-loop system against model uncertainties and external disturbances.

The robust GDI control law allows for two cooperating controllers that act on two orthogonally complement control spaces: one is the particular controller that realizes the dynamic constraints, and the other is the auxiliary controller that is affined in the null control vector, and is used to enforce global closed-loop stability.

Orthogonality of the particular and the auxiliary control subspaces ensures noninterference of the two control actions, and thus, it ensures that both actions work toward a unified goal. The robust control loop increases practicality of the GDI control design.

The first successful implementation of GDI to the SLV control problem.

This paper investigates the use of graphs, selection of variables to graph and construction of graphs in prospectuses issued by Australian companies making their initial public offering (IPO) of shares to the Australian capital market. The paper formulates and tests hypotheses concerning selectivity in the use of graphs and distortion in the construction of graphs presented in IPO prospectuses, as well as providing descriptive evidence about the use of graphs in such prospectuses. Results show that firms enjoying improving profit performance are significantly more likely to include graphs of key financial variables in their prospectuses than firms suffering deteriorating profit performance. Thus, similar to studies of graphs in annual reports, evidence of selectivity in the inclusion of graphs is found. No significant relationship is found between performance on the variable being graphed and distortion in the construction of the graph. When the graphs are split between those covering key financial variables and other variables, a significant relationship is found in both categories. For graphs of other variables, a significant positive association is found between performance and distortion. However, the relationship for key financial variables is in the opposite direction to that suggested by impression management. Further analysis identifies significant sub‐period differences in selectivity and distortion which are consistent with the view that the major regulatory and institutional changes outlined in the paper, reduced the extent of selectivity and graphical distortion in the post‐1991 period. As far as we are aware, this is the first study reported in the literature to investigate the use of graphs in prospectuses. The results also have policy implications for the regulatory authority in Australia.

This paper aims to examine the effect of geographical diversification on corporate liquidity in Malaysian firms. Liquidity is represented by both cash and working capital.

Data for this study is collected from a total of 735 firms over a period of five years, from 2010 to 2014, resulting in a total of 2,904 firm-year observations. The effect of geographical diversification on the cash and working capital of the firms is analyzed by using the ordinary least squares (OLS) with standard errors adjusted for firm level clustering and the quantile regression (QR) analyses. Control variables which represent the characteristics of the firms are also considered.

Analysis using the OLS regression technique indicates that geographical diversification has a highly significant positive influence on corporate cash holdings, while the influence of working capital is negative and its significance is only at the 10 per cent level. However, when QR is used to analyze the relationships, it is found that geographical diversification is only significant in positively influencing cash holdings for firms with low cash holdings, but the relationship is insignificant at high levels of cash holdings. Additionally, working capital is significantly influenced by geographical diversification at high levels of working capital but not at low levels.

To the author’s knowledge, this is the first study to analyze the influence of geographical diversification on liquidity by considering both cash and working capital. The effect of diversification on liquidity is mostly studied in developed countries, whereas this study is focused on a developing country. Additionally, this study uses QR to analyze relationships at different levels rather than at aggregate level as done in OLS regression analysis.

Do feminine cultures really behave more feminine than masculine cultures?. A comparison of 48 countries femininity‐masculineity ranking to their UN human development rankings. Reveals that feminine cultures do apply greater intensity in investing in human development programmes, including care for the weak and gender equity development than masculine cultures. States that both score low on empowerment of females, suggesting that a countrys power distance measurement affects this. Implies that managers of international firms will find greater demand for improved quality of work and female empowerment programmes in feminine/small power distance countries than feminine high power distance countries and masculine countries. Qualifies comparisons by outlining problems within the UN statistical data.

Theories of the family are outlined and related to the socioeconomic deprivation of females and children giving Indian illustrations. The importance of Sen’s entitlement approach is critically discussed in this context. Although international bodies, such as the UNDP, recognise the importance of gender issues in development, UNDP’s Gender Development Index is found to be a poor indicator of female and family welfare. The question is then investigated of how women and children are faring under structural adjustment policies and in transition. Structural adjustment policies have increased the incidence of poverty among women and children in subsistence contexts and in some former centrally planned economies. Furthermore, disadvantaged wives and children are at increasing risk of falling through social safety nets as the welfare state continues to be dismantled in western economies. Changed social welfare regimes reduce opportunities for disadvantaged children. Unfortunately, many neo‐liberals continue to approach welfare services purely from the cost side and fail to see that the supply of social welfare services can raise productivity and promote social justice. Economists should not avoid discussions of social justice.

This paper investigates the impact of trade liberalization measured by trade openness (OPN) and tariffs on women empowerment measured by the gender gap index and gender development index, for two groups of Arab countries divided based on their income levels using annual data for the period 1995–2020. The study also considers other factors that may influence the gender gap, such as GDP growth and the female unemployment rate. The purpose of this paper is to address these issues and explorers whether the effects of trade liberalization differ based on the countries' income levels.

This study employs the fully modified ordinary least squares (FM-OLS) regression model for heterogeneous cointegrated panels to examine the impact of trade liberalization on women empowerment. The study constructs an empirical two regression model of women empowerment measured by the gender gap model and gender development model for the two groups of higher-income countries and lower and middle-income countries.

The authors’ findings reveal that the impact of OPN on the gender gap varies between the two groups of Arab countries where more OPN within the higher-income group may increase the gender disparity, while it may reduce disparity within the lower and middle-income countries. In addition, GDP growth may reduce the gender disparity, while female unemployment raises the gender disparity between the two groups of countries in the long run. Findings also reveal that more OPN, tariffs and female unemployment may reduce gender development within the two groups, but more GDP growth may support the gender development in the long run.

This paper not only assesses the impact of trade liberalization on women empowerment generally, but also assess the women empowerment via two indices that are the gender gap and gender development in Arab countries which is – to the knowledge of the researchers – not yet investigated; further it explores if the effects of trade liberalization differs based on the countries' income levels.

Housing prices in Sydney have increased rapidly in the past three decades. This leads to a debate of whether Sydney housing prices have departed from macroeconomic fundamentals. However, little research has been devoted to this area. Therefore, this study aims to fill this gap by examining the long-run association between housing prices and market fundamentals. Further, it also examines the long-run determinants of housing prices in Greater Sydney.

The analysis of this study involves two stages. The first stage is to estimate the presence of long-run relationship between housing prices and market fundamentals with the Johansen and Juselius Cointegration test. Thereafter, the determinants of housing prices in Greater Sydney is assessed by using a vector error correction model.

The empirical results show that Sydney housing prices are cointegrated with market fundamentals in the long run. In addition, there is evidence to suggest that market fundamentals such as gross disposable income, housing supply, unemployment rate and gross domestic product are the key long-run determinants of Sydney housing prices, reflecting that Sydney housing prices, in general, can be explained by market fundamentals in the long run.

The findings enable more informed and practical policy and investment decision-making regarding the relation between housing prices and market fundamentals.

This paper is the first study to offer empirical evidence of the degree to which the behaviour of housing prices can be explained by market fundamentals, from a capital city instead of at a national level, using a relatively disaggregated dataset of housing price series for Greater Sydney.

For many retailers, research is something they undertake because they have a vague feeling they ought to do so, rather than because they anticipate any concrete benefits. It is the kind of attitude which prompted large retail organisations, years ago when the magic of electronic data processing first appeared on the horizon, to order expensive computers and then use them for paying wages. In this paper Dr Thorpe outlines the ‘external’ areas from which retailers might be expected to benefit from research, such as site selection and logistics of supply, and then of the ‘internal’ areas — merchandising and labour management. This is a summarised version of a paper read at the GDI conference at Zurich.

The purpose of this paper is to study the workspace and dexterity of a microhexapod which is a 6-degrees of freedom (DOF) parallel compliant manipulator, and also to investigate its dimensional synthesis to maximize the workspace and the global dexterity index at the same time. Microassembly is so essential in the current industry for manufacturing complicated structures. Most of the micromanipulators suffer from their restricted workspace because of using flexure joints compared to the conventional ones. In addition, the controllability of micromanipulators inside the whole workspace is very vital. Thus, it is very important to select the design parameters in a way that not only maximize the workspace but also its global dexterity index.

Microassembly is so essential in the current industry for manufacturing complicated structures. Most of the micromanipulators suffer from their restricted workspace because of using flexure joints compared to the conventional ones. In addition, the controllability of micromanipulators inside the whole workspace is very vital. Thus, it is very important to select the design parameters in a way that not only maximize the workspace but also its global dexterity index.

It has been shown that the proposed procedure for the workspace calculation can considerably speed the required calculations. The optimization results show that a converged-diverged configuration of pods and an increase in the difference between the moving and the stationary platforms’ radii cause the global dexterity index to increase and the workspace to decrease.

The proposed algorithm for the workspace analysis is very important, especially when it is an objective function of an optimization problem based on the search method. In addition, using screw theory can simply construct the homogeneous Jacobian matrix. The proposed methodology can be used for any other micromanipulator.