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This study aims to examine the role of Australian casinos in facilitating money laundering and Chinese capital flight.

The reports and transcripts of evidence from government inquiries into money laundering in Australian casinos are integrated with analyses of Asian transnational crime.

Money laundering in Australian casinos is linked to transnational crime and Chinese capital flight. A central finding is that junket operators play a key role in facilitating money laundering. The casinos are particularly exposed to criminal influences in the Chinese very important person gambling market, since they have used junket operators and underground banks, many of whom are closely linked to major Chinese criminal groups from Hong Kong and Macau.

Very little information is available on money laundering in Australian casinos and this research has relied on the government inquiries that have been conducted over the past two years on the subject.

The author’s focus on money laundering in Australian casinos in the context of Asia-Pacific transnational crime is important for Federal and state government regulators grappling with the rapidly changing money laundering issues. The government inquiries recognised that the money laundering was related to transnational crime, but did not have the time and resources to explore the topic. The paper provides state government casino regulators and financial crime regulators with a broader international perspective to anticipate future money laundering and crime pressures facing Australia’s casinos.

Money laundering in Australian casinos has had devastating social implications on the community. My research helps to focus attention on the problems of transnational crime and money laundering.

Little research has examined the linkages between casinos and transnational crime. This study has found that Australian casinos were used to launder the proceeds of illegal drug trafficking and to facilitate Chinese capital flight. While casinos have been forced by damming government inquiries to tighten anti-money laundering controls, it is likely that there will be pressure to relax these controls in the future because of competitive pressure from other casinos in the Asia-Pacific region.

The impact of volatility crush can be devastating to an option buyer and results in a substantial capital loss, even with a directionally correct strategy. As a result, most volatility plays are for option sellers, but the profit they can achieve is limited and the sellers carry unlimited risk. This paper aims to demonstrate the dynamics of implied volatility (IV) as being influenced by effects of persistence, leverage, market sentiment and liquidity. From the exploratory factor analysis (EFA), they extract four constructs and the results from the confirmatory factor analysis (CFA) indicated a good model fit for the constructs.

This section describes the methodology used for conducting the study. This includes the study area, study approach, sources of data, sampling technique and the method of data analysis.

Although there is extensive literature on methods for estimating IV dynamics during earnings announcement, few researchers have looked at the impact of expected market maker move, IV differential and IV Rank on the IV path after the earnings announcement. One reason for this research gap is because of the recent introduction of weekly options for equities by the Chicago Board of Options Exchange (CBOE) back in late 2010. Even then, the CBOE only released weekly options four individual equities – Bank of America (BAC.N), Apple (AAPL.O), Citigroup (C.N) and US-listed shares of BP (BP.L) (BP.N). The introduction of weekly options provided more trading flexibility and precision timing from shorter durations. This automatically expanded expiration choices, which in turned offered greater access and flexibility from the perspective of trading volatility during earnings announcement. This study has demonstrated the impact of including market sentiment and liquidity into the forecasting model for IV during earnings. This understanding in turn helps traders to formulate strategies that can circumvent the undefined risk associated with trading options strategies such as writing strangles.

The first limitation of the study is that the firms included in the study are relatively large, and the results of the study can therefore not be generalized to medium sized and small firms. The second limitation lies in the current sample size, which in many cases was not enough to be able to draw reliable conclusions on. Scaling the sample size up is only a function of time and effort. This is easily overcome and should not be a limitation in the future. The third limitation concerns the measurement of the variables. Under the assumption of a normal distribution of returns (i.e. stock prices follow a random walk process), which means that the distribution of returns is symmetrical, one can estimate the probabilities of potential gains or losses associated with each amount. This means the standard deviation of securities returns, which is called historical volatility and is usually calculated as a moving average, can be used as a risk indicator. The prices used for the calculations are usually the closing prices, but Parkinson (1980) suggests that the day’s high and low prices would provide a better estimate of real volatility. One can also refine the analysis with high-frequency data. Such data enable the avoidance of the bias stemming from the use of closing (or opening) prices, but they have only been available for a relatively short time. The length of the observation period is another topic that is still under debate. There are no criteria that enable one to conclude that volatility calculated in relation to mean returns over 20 trading days (or one month) and then annualized is any more or less representative than volatility calculated over 130 trading days (or six months) and then annualized, or even than volatility measured directly over 260 trading days (one year). Nonetheless, the guidelines adopted in this study represent the best practices of researchers thus far.

This study has indicated that an earnings announcement can provide a volatility mispricing opportunity to allow an investor to profit from a sudden, sharp drop in IV. More specifically, the methodology developed by Tan and Bing is now well supported both empirically and theoretically in terms of qualifying opportunities that can be profitable because of the volatility crush. Conventionally, the option strategy of shorting strangles carries unlimited theoretical risk; however, the methodology has demonstrated that this risk can be substantially reduced if followed judiciously. This profitable strategy relies on a set of qualifying parameters including liquidity, premium collection, volatility differential, expected market move and market sentiment. Building upon this framework, the understanding of the effects of persistence and leverage resulted in further reducing the risk associated with trading options during earnings announcements. As a guideline, the sentiment and liquidity variables help to qualify a trade and the effects of persistence and leverage help to close the qualified trade.

The authors find a positive association between the effects of market sentiment, liquidity, persistence and leverage in the dynamics of IV during earnings announcement. These findings substantiate further the four factors that influence IV dynamics during earnings announcement and conclude that just looking at persistence and leverage alone will not generate profitable trading opportunities.

The impact of volatility crush can be devastating to the option buyer with substantial capital loss, even for a directionally correct strategy. As a result, most volatility plays are for option sellers; however, the profit is limited and the sellers carry unlimited risk. The authors demonstrate the dynamics of IV as being influenced by effects of persistence, leverage, market sentiment and liquidity. From the EFA, they extracted four constructs and the results from the CFA indicated a good model fit for the constructs. Using EFA, CFA and Bayesian analysis, how this model can help investors formulate the right strategy to achieve the best risk/reward mix is demonstrated. Using Bayesian estimation and IV differential to proxy for differences of opinion about term structures in option pricing, the authors find a positive association among the effects of market sentiment, liquidity, persistence and leverage in the dynamics of IV during earnings announcement.

Two-handed automobile steering at low vehicle speeds may lead to reduced steering ability at large steering wheel angles and shoulder injury at high steering wheel rates (SWRs). As a first step toward solving these problems, this study aims, firstly, to design a surface electromyography (sEMG) controlled steering assistance interface that enables hands-free steering wheel rotation and, secondly, to validate the effect of this rotation on path-following accuracy.

A total of 24 drivers used biceps brachii sEMG signals to control the steering assistance interface at a maximized SWR in three driving simulator scenarios: U-turn, 90º turn and 45º turn. For comparison, the scenarios were repeated with a slower SWR and a game steering wheel in place of the steering assistance interface. The path-following accuracy of the steering assistance interface would be validated if it was at least comparable to that of the game steering wheel.

Overall, the steering assistance interface with a maximized SWR was comparable to a game steering wheel. For the U-turn, 90º turn and 45º turn, the sEMG-based human–machine interface (HMI) had median lateral errors of 0.55, 0.3 and 0.2 m, respectively, whereas the game steering wheel, respectively, had median lateral errors of 0.7, 0.4 and 0.3 m. The higher accuracy of the sEMG-based HMI was statistically significant in the case of the U-turn.

Although production automobiles do not use sEMG-based HMIs, and few studies have proposed sEMG controlled steering, the results of the current study warrant further development of a sEMG-based HMI for an actual automobile.

In many security domains, the ‘human in the system’ is often a critical line of defence in identifying, preventing and responding to any threats (Saikayasit, Stedmon, & Lawson, 2015). Traditionally, such security domains are often focussed on mainstream public safety within crowded spaces and border controls, through to identifying suspicious behaviours, hostile reconnaissance and implementing counter-terrorism initiatives. More recently, with growing insecurity around the world, organisations have looked to improve their security risk management frameworks, developing concepts which originated in the health and safety field to deal with more pressing risks such as terrorist acts, abduction and piracy (Paul, 2018). In these instances, security is usually the specific responsibility of frontline personnel with defined roles and responsibilities operating in accordance with organisational protocols (Saikayasit, Stedmon, Lawson, & Fussey, 2012; Stedmon, Saikayasit, Lawson, & Fussey, 2013). However, understanding the knowledge that frontline security workers might possess and use requires sensitive investigation in equally sensitive security domains.

This chapter considers how to investigate knowledge elicitation in these sensitive security domains and underlying ethics in research design that supports and protects the nature of investigation and end-users alike. This chapter also discusses the criteria used for ensuring trustworthiness as well as assessing the relative merits of the range of methods adopted.

The reality of domestic violence does not disappear when people enter the digital world, as abusers may use technology to stalk, exploit, and control their victims. In this chapter, we discuss three unique types of technological abuse: (1) financial abuse via banking websites and apps; (2) abuse via smart home devices (i.e., “Internet of Things” abuse); and (3) stalking via geo-location or GPS. We also argue pregnancy and wellness apps provide an opportunity for meaningful intervention for pregnant victims of domestic violence.

While there is no way to ensure users' safety in all situations, we argue thoughtful considerations while designing and building digital products can result in meaningful contributions to victims' safety. This chapter concludes with PenzeyMoog's (2020) “Framework for Inclusive Safety,” which is a roadmap for building technology that increases the safety of domestic violence survivors. This framework includes three key points: (1) the importance of educating technologists about domestic violence; (2) the importance of identifying possible abuse situations and designing against them; and (3) identifying user interactions that might signal abuse and offering safe interventions.

Taiwan’s hotel industry was adversely impacted by the COVID-19 pandemic. This study aims to examine the effect of strategic choices by Taiwanese international tourist hotels before and during the pandemic environments.

A data envelopment analysis (DEA)-based Malmquist methodology is used in this study to provide a mechanism to assess Taiwanese hotel strategy performance. Changes in the productivity and performance of Taiwanese international tourist hotels were analyzed in the periods before and during the pandemic to uncover insights useful should a similar crisis occur in the future. Panel data were obtained from the annual report of international tourist hotels published by the Taiwan Tourism Bureau from 2017–2020. Two groups of hotels were analyzed in this study: city hotels and scenic hotels.

The findings of this study reveal that chain hotels tended to perform better than independent hotels in both city and scenic areas during the global pandemic. Specifically, the crisis caused a substantial decline in productivity and profitability for international tourist hotels in Taipei City during the COVID-19 period. Compared to city hotels, findings also indicate that most international tourist hotels in scenic areas were able to maintain better productivity, including larger-sized scenic hotels.

The DEA-based analysis provides unique and valuable insights for hotel firm leaders on how to better identify and make strategic choices when responding to future crises.

Following the rapid shift to online learning due to COVID-19, this paper aims to compare the relative efficacy of face-to-face and online university teaching methods.

A scoping review was conducted to examine the learning outcomes within and between online and face-to-face (F2F) university teaching programmes.

Although previous research has supported a “no significant difference” position, the review of 91 comparative studies during 2000–2020 identified 37 (41%) which found online teaching was associated with better learning outcomes, 17 (18%) which favoured F2F and 37 (41%) reporting no significant difference. Purpose-developed online content which supports “student-led” enquiry and cognitive challenge were cited as factors supporting better learning outcomes.

This study adopts a pre-defined methodology in reviewing literature which ensures rigour in identifying relevant studies. The large sample of studies (n = 91) supported the comparison of discrete learning modes although high variability in key concepts and outcome variables made it difficult to directly compare some studies. A lack of methodological rigour was observed in some studies.

As a result of COVID-19, online university teaching has become the “new normal” but also re-focussed questions regarding its efficacy. The weight of evidence from this review is that online learning is at least as effective and often better than, F2F modalities in supporting learning outcomes, albeit these differences are often modest. The findings raise questions about the presumed benefits of F2F learning and complicate the case for a return to physical classrooms during the pandemic and beyond.

The purpose of this paper is to draw a map of the general features of epistemological and critical concerns in contemporary Islamic philosophy. This study will not be confined to the domain of academic philosophy or to those who are professionals in the field of philosophy.

The paper adopted the critical rational approach in dealing with contemporary Islamic philosophy in the Arab world. The scope will include scholars from different fields of epistemology who tried to present a “vision” of the attitude that should be adopted in facing the challenges of the age and the problems of the nation on the epistemological level or the political, economic and social levels.

There is a need for a philosophy of action and progress rather than a philosophy that is based on abstract ideas and theories and of words/rhetoric. The ethics required to accomplish this ought to identify the attributes of the citizen who can reach self-actualization through legitimate means based on a progress agenda with theoretical and philosophical foundations.

Because a critical rational approach can be dealt with from different perspectives, this paper will adopt the classification of the principal intellectual trends: the reformist, secular and liberal.

This paper covers a long time span to determine whether the philosophical projects have been effective.

This paper, which criticizes the philosophic projects that are theoretically unsound and that do not address real social problems (like poverty), argues the need for a philosophy of progress and action. This will lead to devising an agenda that addresses the challenges the society is facing and to finding alternative and creative solutions resulting in development.

The emerging business partner role of management accountants (MAs) results in an increased requirement of MAs to make business decisions. Frame dependence cognitive biases regularly influence decisions made in conditions of uncertainty, as is the case in business decision-making. Consequently, this study aims to examine susceptibility of MAs to frame dependence bias.

A survey was conducted among an international sample of practising MAs. The proportion of MAs influenced by framing bias was analysed and compared to findings in other populations. Logistic regression was then used to determine whether MAs who exhibit a higher preference for evidence-based (as opposed to intuitive) decision-making are more susceptible to framing bias.

Despite a comparatively high preference for evidence-based decision-making, the prevalence of framing bias among MAs is comparable to that of other populations. A higher preference for evidence-based decision-making was found to only be associated with higher susceptibility to endowment effect bias.

To the best of the authors’ knowledge, this is the first study to comprehensively examine framing bias for MAs as a group of decision-makers. Additionally, this study’s sample consists of practising MAs, and not only students.