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Canadian firm named No.1 provider of "extra-financial" research by global survey of buy and sell side firms
TORONTO - Innovest Strategic Value Advisors was ranked as the No.1 global provider of "extra-financial" investment research out of 20 ranked firms in the latest Thomson Extel survey. Innovest leads the ranking with 16.38% of the vote, more than three times the scores of its major competitors.
The survey results are based on responses from 124 buy-side firms and 16
sell-side firms and were conducted from 27 March 2006 to 14 June 2006. Forty
independent research nominees were examined. The survey highlights the fact
that investors are increasingly using independent extra-financial research
providers and the growing importance of these factors in mainstream investment
analysis. Increasingly, investors are recognizing that purely financial
indicators can give only a partial picture of a company's true risk profile
and competitive position.
Innovest Chief Executive, Dr. Matthew Kiernan, commented: "We are of
course, delighted by this honour. Since our inception a decade ago, we have
consciously sought to recruit analysts with investment and industry
backgrounds as well as "extra-financial" domain knowledge. We have also worked
very hard to go beyond mere factual reporting and stress value-added, unique
analysis which our clients cannot find anywhere else. In addition, we will be
announcing some major enhancements to our research platform over the next few
months which should make it even more valuable to "real-time"
returns-conscious investors."
Other research providers with Canadian coverage that made the list
include ISS and the SiRi Network, at No.5 and No.6 respectively.
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Spending on research and development in the higher education sector
Expenditure on research and development in higher education institutions in Canada increased from $8.1 billion in 2003/2004 to $9.0 billion in 2004/2005 (an increase of 10.5%).
This increase is the result of a rise in the contributions of three sources of funds: the higher education sector itself, the federal government, and private non-profit organizations. The higher education sector was the main contributor of funds for research and development (45% or $4.1 billion in 2004/2005). The main external funders were the federal government (26%) provincial governments (12%) business enterprises (8%) and private non-profit organizations (8%).
The health (+14.3%) and social science (+11.1%) fields benefited most from this increased funding as well as other natural sciences (+6.9%). Significantly, $7.2 billion (80%) was allocated to natural sciences and engineering (including health sciences).
The federal government's contribution increased by 7.1% over 2003/2004. However, the federal government's share of funding for research and development in higher education dropped marginally from 27% in 2003/2004 to 26% in 2004/2005. Health sciences and other natural sciences account for 84% of the federal funding for research and development in higher education.
Ontario and Quebec accounted for 67% of federal funds and 70% of the total research and development expenditures while the Atlantic provinces together accounted for only 6% of the total expenditures. This pattern is related to the differences in the number and size of higher education institutions in these provinces.
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Housing prices in Western Canada high? Credit card debt in Ontario bad? You bet!
One in four Western Canadians would risk doubling their mortgages in a
hand of double-or-nothing poker, according to national survey by
online poker site PokerRoom.com. Canadian men are twice as willing as
women to take risks in life; Quebecers are the most cautious, British
Columbians the most reckless.
TORONTO - With Alberta's average housing price leaping 35 per cent in the past year, it's not surprising that one in four Western Canadians are willing to risk doubling their mortgage - or earn mortgage freedom - in a single hand of poker, according to a national survey by online poker site PokerRoom.com. In Ontario, exactly half of those surveyed said they would take the opportunity to wipe out their credit card - or see it doubled - in a double-or-nothing poker hand.
The national survey conducted by research firm Synovate gauged the risk
tolerance of more than a thousand Canadian adults. The survey revealed that
Canadians lose their inhibitions the further west you travel. On a scale of 1
to 10, with one being the least risky and 10 the most, Quebecers and Atlantic
Canadians said they were the least willing to take risks in life, while
British Columbians and Western Canadians (Manitoba, Saskatchewan and Alberta)
said they were the most willing. Most Canadians, 21 per cent, ranked
themselves as a "five" on their willingness to take risks, while the next
highest rating was a "seven" (18 per cent).
"Canadians are often seen as conservative and cautious, but many have a
sensation-seeking side," said Glenn Cademartori, North American spokesperson
for PokerRoom.com. "Canadians relish a little thrill and entertainment,
including risking their mortgage or credit card debt in a winner-take-all hand
of poker. For many, it's a dream to be debt free, but if you ever had the
opportunity to go 'double or nothing', how many people would actually take
that risk?"
In fact, when asked to choose which financial burden they would be
willing to risk in a double-or-nothing single hand of poker, 45 per cent of
Canadians said their credit card debt, 18 per cent said their mortgage, 18 per
cent said income taxes, 13 per cent said personal or student loan and seven
per cent said car loan or lease.
Amongst the other findings:
Machismo may be a factor in Canadians' risk tolerance. Only 14 per cent
of Canadian men, compared to 33 per cent of women, considered themselves among
the low end of the risk scale, or least willing to take risks in life.
The exuberance of youth: more than 37 per cent of those 18-34 years old
gave themselves a rating of seven or higher on their willingness to take risks
in life, while only 20 per cent of those more than 55 years old gave
themselves a similar rating.
Wealth, or lack of it, appears to make some Canadians more cautious than
others. More than one in three Canadians with household incomes of more than $
75K placed themselves among the top end of the risk-taking scale, but only
about one in four with household incomes of less than $ 25K classified
themselves in the higher risk categories.
"Canadians take risks everyday: crossing the street, switching jobs,
competing in sports or playing online poker. Each has an element of risk,"
said Cademartori. "The key to avoiding a letdown is to assess and then manage
that risk. And Canadians are clearly smart risk takers: they are often among
the top winners at PokerRoom.com online tournaments."
PokerRoom.com is the world's third largest online poker site with
approximately six million players in nearly 150 countries. Initiated by two
students with a passion for poker, PokerRoom.com now offers one of the safest
and most entertaining online gaming experiences available, and has won
numerous industry awards for its premium-quality graphics and ease of use.
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The market for multi-channel video services is growing slowly
The number of subscribers to multi-channel video services, for cable and wireless operators combined, grew 1.5% to 9.9 million from August 2003 to August 2004, almost the same as in 12 months prior to that period (+1.4%). In the two year period, growth in this market has barely kept pace with the creation of new households.
This seems to signal the end of the period of robust growth in demand that followed the introduction of competition late in 1997. The first indication of a loss of momentum appeared in 2002, when the number of subscribers increased a relatively modest 2.0%. Between 1998 and 2001, the annual increase in subscription varied from a low of 3.5% in 1998 to a high of 5.7% in 2001.
Opportunities for growth in this market are limited
by the relatively high penetration of multichannel
video services. This renders the issue of
signal theft that much more important for the
industry. By some estimates, there are as many
as 1 million illegal dishes in Canada, a significant
potential loss for the industry.1
If those estimates are close to reality, approximately 89% of the potential market has already been tapped by legal or illegal means. This is consistent with the results of another study that found that 87% of households receive television programs by cable or satellite,
more...
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Innovation Analysis Bulletin - June 2006
The Innovation Analysis Bulletin focuses on trends in science, technology and the information society. The bulletin includes updates on government science and technology activities, industrial research and development, intellectual property commercialization, advanced technologies and innovation, biotechnology, connectedness, telecommunications and broadcasting, and electronic commerce.
Innovation Analysis Bulletin
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Canada's Research Publication Output Drops in World Ranking Good News for 9 Canadian Universities Wilfrid Laurier places 3 in Undergraduate
TORONTO - Canada dropped from 6th to 7th place in the world in its annual output of research publications, according to the Canadian University Research Publications Report, a new study by RE$EARCH Infosource Inc. Canada was displaced by China in the most recent ranking (2004) of countries according to their number of research publications in approximately 6,000 of the world's leading peer-reviewed journals.
"Research publications are a key indicator of national research
competitiveness," says Ron Freedman, CEO of Research Infosource Inc. "Given
the sheer number of scientists that China is training, and the strong
incentives they provide for them to publish, it was inevitable China would
move up in the world ranking."
However, looking at publications on a per capita basis, Canada is tied
for 4th in the world with Australia. Sweden, The Netherlands and the U.K. take
the top three spots. The United States ranked 5th. Total Canadian output
increased by 4% (3.6% gain for universities) from 1999-2004 compared to a
world gain of 3.3% and the publications were of a high quality. In terms of
total share of world output Canada is in 3rd place in both Social Sciences and
Humanities publications. It occupies 6th place in Health Sciences, but only
9th place in Natural Sciences and Engineering (NSE). However, NSE research
grew at a fast 9.7% clip from 1999-2004, more than the other disciplines.
The Canadian University Research Publications report focuses on
university research, which accounts for 90% of Canada's publications. The
report covers a six year period from 1999-2004 and uses data from Observatoire
des sciences et des technologies at the Université du Québec à Montréal,
Thomson Scientific, Research Infosource Inc.'s Canadian Universities Database,
Statistics Canada and the US National Science Foundation.
The report analyzed Canada's publication outputs from 1999 to 2004 in the context of the three university categories (Medical/Doctoral, Comprehensive, Undergraduate). Using publication effectiveness (a measure of the cost of research at each university against its impact/quality) a new indicator developed for the report, Research Infosource has designated 9 Canadian universities as leaders in publication effectiveness.
Top Universities in Publication Effectiveness
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| Medical/Doctoral |
Comprehensive |
Undergraduate |
| 1. University of British Columbia |
1. Simon Fraser University |
1. University of Prince Edward Island |
| 2. University of Toronto |
2. Concordia University |
2. Saint Mary's University |
| 3. McMaster University |
3. University of Victoria |
3.Wilfrid Laurier University |
Canadian University Publications 2006, provides in-depth data on 69
Canadian universities in terms of their published research: output, intensity,
impact, cost efficiency and overall effectiveness. Highlights of the report
and other information are available free at www.researchinfosource.com/univPub
Research Infosource Inc., publishers of Canada's Top 50 Research
Universities List and Canada's Top 100 Corporate R&D Spenders List and
accompanying reports, a division of The Impact Group, is Canada's leading
provider of research intelligence for business and higher education.
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Research & Development (R&D) Budgets Set to Grow With China the Biggest Recipient, New Research for Thomson Reveals
BEIJING -- Two thirds of Asian executives are set to boost R&D budgets over the next three years to reflect the critical importance of innovation to maintaining a competitive advantage, according to an executive survey conducted by Economist Intelligence Unit for Thomson Scientific.
The findings, which were revealed at the "Think Smart R&D and Innovation
Roundtable" held in Beijing today, state the country most expected to benefit
from this investment is China, with 48.15% of companies stating it will have
the biggest share of its R&D spend, ahead of India (24.07%), US (21.69%) and
Europe (20.99%). Up to 40% of respondents cited the Chinese Government's
active support for R&D as China's greatest asset. The survey polled 165 senior
executives in Asia-Pacific (including 37% from China) and was conducted in
April-May 2006.
Thomson Scientific - part of the Thomson Corporation, a leading provider
of integrated information based solutions - has developed a number of
innovation lead initiatives to assist R&D teams at universities and Chinese
and foreign enterprises to gain competitive advantage through a better
understanding and usage of Intellectual Property data.
The survey reveals that over a quarter of respondents view international
companies as more competitive than their own organization, while only 6.75%
view Chinese companies as more competitive. However, Thomson statistics for
patent registration indicate this is set to change. Latest figures reveal that
the number of applications by Chinese nationals has nearly tripled from 2000
to 2004.
Vin Caraher, President and CEO of Thomson Scientific explains:
"It is clear that China is rapidly shifting from a low cost manufacturing
base to a low cost innovation base, where complex R&D processes,
experimentation and exploration are conducted. As this shift occurs, the role
of Intellectual Property for Chinese enterprises will become more important as
companies use Intellectual Property data to leverage a competitive advantage."
Thomson, which has over 30 years expertise in China, is well placed to
assist Chinese companies to innovate faster and with higher frequency by
providing authoritative and reliable patent data. Thomson Scientific produces
Derwent World Patents Index (DWPI), the world's largest commercial collection
of patent data. Its team assesses, classifies, summarizes and indexes in
excess of 39,000 patent documents each week from 42 international patent
offices. In addition, Thomson has 900 databases (with six billion pages of
content) from the most authoritative authors, as well as the analytical
software solutions to help academics and business professionals uncover
trends, profile competitors and identify strategic development opportunities.
As part of Thomson's support for global innovation, the company partnered
with the State Intellectual Property Office (SIPO) in China to launch an IP
Knowledge Contest with SIPO's China Intellectual Property News (CIPN), with
the aim of gauging the professional and academic public's understanding of
Intellectual Property. Questions vary from piracy restrictions to time limits
for the protection of an invention, with results due later in 2006.
In addition, in 2005, the company worked with the Ministry of Information
Industry (MII) to develop the Thomson Joint Laboratory for Intellectual
Property Development, which provides Chinese citizens access to its patent
databases through the lab facility.
Thomson's latest venture, which launched on 3 May, is a dedicated website for China innovation http://www.innovationinchina.com
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Two-thirds of Canadian Households Have Access to a Wireless Phone - Wireless Adoption by Canadians 55 and Older Doubles
OTTAWA - A new Decima Research study commissioned by the Canadian Wireless Telecommunications Association (CWTA) reveals that two-thirds (64%) of Canadian households report owning or having access to a wireless phone. This result represents a significant increase since the last time this study was conducted in 2000, when only 44% of Canadian households claimed wireless phone access.
Albertans continue to be at the forefront of wireless phone adoption with
a household wireless penetration rate of 79%, while Quebecers represent the
other end of the wireless penetration spectrum at 51%.
The research also estimates that approximately 8% of households that
currently have access to a wireless phone have in fact replaced their
traditional telephone line. This equates to approximately 5% of all Canadian
households. The study reports that 17% of Canadian households that currently
have a wireless phone, or plan to have one in the next 12 months, are likely
to replace an existing wireline service with a wireless service.
Speaking May 16 in Toronto at "Work.Live.Play. - The Infinite Potential of Wireless", the industry's annual conference, CWTA President and CEO Peter Barnes said, "It is clear that Canadians now view wireless as an alternative to landline service in the home." "In addition to the longstanding competition within the wireless industry, we are now seeing wireless services compete in what has been viewed as the traditional local phone market," he added.
The 20% average increase in national wireless household penetration from
2000 to 2006, for the most part is consistent across all segments of the
population. The increase in penetration has however been particularly sharp
among the following segments: in Atlantic Canada - from 36% to 63%; among 18
to 34 year olds - from 45% to 74%; among older Canadians (55+) - from 24%
doubling to 48%; and among university graduates - from 50% to 73%.
"Of particular interest from an age segment perspective is the fact that
historically, Canadians in the 35 to 54 age bracket were typically the ones
driving growth in wireless penetration," said Rick Nadeau, Decima's Vice
President, Telecommunications and Cultural Affairs. "But in our most recent
study however, all age groups are now contributing to the overall increase in
wireless penetration."
The last six years have also seen an important shift in how Canadians use
their wireless phones. Between 1998 and 2000, between 25% and 30% used their
wireless phone as much for business purposes as for personal purposes. Results
in 2006 suggest a more polarized use of wireless phones - they are being used
either mostly for personal (60%) or mostly for business calls (29%), with the
proportion using it evenly for personal and business calls diminishing to 8%.
A part of the study also examined usage of specific phone features among
Canadian wireless phone users. Incidence of the most-accessed features
include: text messaging (25%); taking pictures (15%); downloading content
(15%); push-to-talk service (7%); instant messaging (6%); send or receive
e-mail (6%); search information from the Internet (4%); multimedia messaging
(3%); listening to music (2%); and downloading music (2%).
<<
Other survey highlights include:
- Wireless phone penetration is not only widening, in other words
spreading increasingly to more households, but also getting "deeper"
within each household as 57% of households that have access to a
wireless phone report having two or more wireless phones.
- Seven-in-ten (70%) respondents personally own their wireless phone,
while the remaining obtain access through their employer,
self-employment or through someone else in the household.
- With regard to types of wireless devices in the home, nearly all
households use cell phones exclusively (91%), whereas 8% have a
combination of cell phones and wireless PDAs within the household.
- This year's results suggest that the average wireless user is more
"mature" or experienced compared to six years ago. In 2000, every one
in four users had been accessing a wireless service for less than one
year compared to only one in ten today.
- Half have used their wireless phone to help them out of an emergency
situation.
- In a typical week, Canadian wireless phone users estimate they talk for
slightly over one hour (71 minutes) on their wireless phones, a result
which increases to 84 minutes among 18 to 34 year olds and drops to
45 minutes among wireless users over 55 years of age.
- About 16% of the households having indicated they do not currently own
or have access to a wireless phone are likely to acquire one within the
next year.
- Eight in 10 report feeling comfortable with technologies such as
wireless communications devices and a similar proportion feels that
wireless communications devices are easy to use.
- Slightly over half say that wireless communications are good value for
money.
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Research and development in the health field 1988 to 2005
Research and development (R&D) in the health field is gaining importance in Canada, accounting for nearly one-quarter of total spending on R&D in 2005, according to preliminary figures.
Gross spending on health R&D amounted to an estimated $6.0 billion last year, 6.8%, or $379 million higher than the level in 2004.
R&D on health accounted for 23% of gross domestic spending on R&D in 2005. A decade earlier, it represented only 16%.
The higher education sector accounted by far for the lion's share of R&D spending on health, about 62%.
This sector, which includes universities and teaching hospitals, performed an estimated $3.7 billion of R&D on health, up 10.0% from 2004 and more than double the level from 1995. The business enterprise sector performed more than $2.0 billion, up 2.6%.
The largest funders of R&D spending on health were the business enterprise sector and the higher education sector, which contributed about $1.6 billion each in 2005. They were followed by the federal government sector, which contributed $1.2 billion.
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Study: Science and engineering employment in Canada and the United States for 2000 and 2001
Although Canada may lag behind the United States in terms of domestic expenditures on research and development, proportionally, scientists and engineers are just as prevalent here as they are south of the border, according to a new report.
In 2000 and 2001, scientists and engineers together accounted for 4.5% of paid employment in both countries.
This proportion nearly doubled in both nations during the previous two decades. In 1980 and 1981, scientists and engineers represented 2.3% of paid workers in Canada, and 2.6% in the United States.
Canada's system of innovation is sometimes characterized as "disadvantaged" because Canadian businesses devote proportionately fewer resources to research and development than do businesses elsewhere, particularly in the United States.
However, the intensity of research and development is only one measure of an economy's innovative capacity. Scientists and engineers have long been regarded as important to innovation and technological progress.
This study focuses on a set of occupations that are classified as science or engineering-based by the National Science Foundation. These occupations include computer and mathematical scientists, life scientists, physical scientists, social scientists and engineers.
In 2000 and 2001, scientists and engineers accounted for a slightly higher share of paid earnings in the United States than in Canada. Scientists and engineers accounted for 8.5% of paid earnings in the United States, compared with 7.7% in Canada.
There were also some differences between the two nations in how intensively scientists and engineers were employed in different sectors of the economy. The sector with the largest share of scientists and engineers in both countries (professional, scientific and technical services industries) was more science and engineering-intensive in Canada. Scientists and engineers made up one-quarter of this sector's work force in Canada, compared to about one-fifth in the United States.
Conversely, the US manufacturing sector was more science and engineering-intensive than Canada's. Scientists and engineers made up 8.1% of US manufacturing employment, compared to 4.8% in Canada.
The study also examines a different but related group of occupations that contain a significant science or engineering component, such as workers in health-related occupations, and science and engineering technologists.
Canada and the United States also compared well in terms of this other group of science and engineering-related occupations. In 2000 and 2001, these related occupations accounted for 9.0% of paid employment in Canada, compared to 9.1% in the United States.
Workers in these occupations accounted for 12.2% of paid earnings in Canada and 10.7% of paid earnings in the United States.
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Study: Foreign banks in Canada 1997 to 2004
From 1997 to 2004, foreign banks increased their market share of the deposit-taking sector in Canada, according to a new study. However, domestic banks continued to dominate the Canadian market.
The deposit-taking sector includes financial institutions that accept deposits such as domestic banks, foreign bank subsidiaries and full-service branches, local and central credit unions (including caisse populaires) and trust companies.
In 1997, foreign bank subsidiaries and full-service branches accounted for 5.7% of the value of services produced in this sector. By 2004, this proportion had edged up to 7.9%.
This increase in market share can be attributed largely to the rapid 7.0% average annual growth in the real value of services produced by these foreign operators during this seven-year period.
The fastest growing foreign bank institutions in Canada offered credit card and other electronic financial services or specialized in corporate and institutional finance. Mergers and acquisitions have helped others to grow.
In 1999, the federal government allowed foreign-owned banks to establish full service branches in Canada, rather than restricting them to forming subsidiary companies as in the past.
At the same time as foreign banks have made inroads in Canada, Canadian banks extended their reach both at home and abroad.
Large domestic banks continued to dominate the services offered by banks, trust companies, credit unions and caisses populaires. The market share gains of the foreign operators meant relatively small losses in market share by the domestic banks and trust companies.
Canadian financial institutions have also been going global. Their share of activities abroad has been increasing along with foreign direct investment in other countries.
Between 1997 and 2004, the total real value of services produced by the domestic banks rose at an annual average rate of 1.8% in Canada. Worldwide, however, the gain was more than double that pace at 4.8%.
In 2005, deposit-taking institutions represented 3.2% of the total gross domestic product for Canada. To put this in perspective, this is more than the whole transportation equipment and motor vehicle manufacturing industry.
The study "Foreign banks in the Canadian market" examines the evolution of foreign bank subsidiaries and full-service branches in Canada from 1997 to 2004. It focuses on the value of services produced, adjusted for inflation. The concept of value of services produced is similar to that of total revenue reported by some banks. It is the sum of net interest income and non-interest income. The study also examines assets held by Canadian financial institutions abroad.
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Study: Who's religious in 2002?
Adult Canadians attach a higher degree of importance to religion than religious attendance figures alone would indicate, according to a study released today in Canadian Social Trends.
But many of us apparently prefer to engage in some religious practices in the privacy of our own home, rather than in public.
According to previous research, only about one-third of adult Canadians attend religious services at least once a month.
However, this new study has found that more than one-half engage in religious activities on their own at least on a monthly basis, even if it is just to say a little prayer or do some meditating.
According to the Ethnic Diversity Survey, conducted in 2002, nearly half of the people who do not attend religious services regularly, but who do engage in some kind of activity on their own, attach a high degree of importance to their religion.
Not surprisingly, those who regularly attend services and engage in personal activities are most likely to place high importance on religion.
Half of adult Canadians regularly engage in religious activities on their own
Public religious behaviour, religious affiliation and attendance have been declining among much of the population, but these developments capture only one aspect of peoples' religiosity.
To get a more complete picture, this study used the Ethnic Diversity Survey to examine private religious practices that people did on their own such as prayer, meditation, worship and reading of sacred texts at home or some other location.
The survey showed that Canadians do engage in such private religious behaviour either at home or in other locations, even though they may have little or no connection with religious organizations.
Note to readers
This release is based on a study in the May 2006 issue of Canadian Social Trends titled "Who's religious?"
The majority of the data came from the 2002 Ethnic Diversity Survey, conducted from April to August 2002. About 42,500 people aged 15 and over were interviewed by telephone in the 10 provinces.
The survey was developed by Statistics Canada, in partnership with the Department of Canadian Heritage, to provide information on the ethnic and cultural backgrounds of people in Canada and how these backgrounds relate to their lives today.
It covered topics such as religion, ethnic or cultural ancestry and identity, family background and social networks.
Survey data showed that over one-half (53%) reported that they engaged in religious activities on their own at least monthly, while about 11% did so a few times a year. (According to previous research, only about 32% of adult Canadians attended religious services at least monthly.)
The likelihood that people would engage in religious activities on their own was more prevalent in older age groups, as is the case with attendance at religious services.
Immigrants were also more likely to engage in private religious practices and attend religious services than the Canadian-born population.
Most striking was the proportion of Canadians who infrequently or never attend services, yet regularly engage in personal religious practices.
Of those who infrequently attended religious services over the year prior to the survey, 37% said they engaged in religious practices on their own on a weekly basis. And of those who had not attended any religious services over the previous year, 27% said they engaged in weekly religious practices on their own.
Overall, this group of adults who regularly engage in private religious practices, but infrequently or never attend religious services, represented 21% of the adult population.
Religiosity index: Less than a third of Canadians are "highly religious"
The four dimensions of religiosity affiliation, attendance, personal practices and importance of religion can be combined into a simple "religiosity index".
People may attend religious services or choose religious denominations to please their loved ones. So, an index which also captures the importance of religion and personal religious practices may be a better indicator of religiosity.
A high score on this index indicates that the individual attends religious services at least once a week, engages in personal religious practices at least once a week, and places a great deal of importance on religion.
Based on these criteria, 40% of Canadians have a low degree of religiosity, 31% are moderately religious and 29% are highly religious.
Religiosity is lowest among young people and higher among individuals in older age groups. Men are also much more likely to have low religiosity than women.
The degree of religiosity expressed by Canadians is associated with the religious background of their parents. Among individuals who said that neither of their parents had a religion, 85% had a low degree of religiosity and only 10% had a high degree.
In contrast, among individuals who reported that both of their parents had similar religious backgrounds, 32% had a low degree of religiosity and 33% had a high degree. This is consistent with other studies that show religious parents are most likely to pass their religion on to their children. This occurs most often when both parents have similar religious backgrounds.
About 4 in 10 (41%) of the immigrants who arrived in Canada between 1982 and 2001 had a high degree of religiosity, compared with 26% of people born in Canada.
However, there is considerable variation in levels of religiosity among immigrants from different regions of the world.
For example, high levels of religiosity were most prevalent among immigrants from South Asia (for example, India and Pakistan).
In contrast, high levels of religiosity were least prevalent among immigrants from East Asia (such as China and Japan) and Western and Northern Europe (countries such as France and the United Kingdom).
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Study: Buying and selling research and development services from1997 to 2002
Research and development (R&D) is a crucial activity in the innovation process. Not every firm is in a position to overcome constraints to R&D, such as costs. Those that perform R&D must choose between forming a partnership with other firms, governmental organizations or universities, or doing it themselves internally. Others may sell R&D services or buy them.
This study provides a statistical portrait of the strategies Canadian companies used in conducting R&D between 1997 and 2002. It is based on data from the Survey of Research and Development in Canadian Industry.
Between 1997 and 2002, the majority of R&D spending, around 62%, was of internal origin, that is, it was conducted by the performer. The remaining 38% was comprised of two groups: one group (representing 24%) performed R&D on behalf of another organization, that is, they contracted in. The remaining 14% was conducted by another R&D performer, that is, they contracted out.
An estimated 42% of R&D was conducted with no external partnerships.
Foreign-controlled firms were much more heavily involved in selling R&D services than their Canadian counterparts. About 22% of all foreign-controlled firms conducted R&D for outside organizations, more than twice the proportion of only 9% of domestic performers.
However, Canadian-controlled firms on average spent more on research and development. As a result, the 9% of Canadian-controlled performers allocated 23% of their total R&D spending to selling R&D services, virtually the same proportion as the 25% allocated by foreign-controlled firms.
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Canadians Communicate With About 23 People per Day, and Mostly on Mondays
MSN Canada / Ipsos-Reid online poll finds online communications like
email and instant messaging playing a large role alongside more
traditional forms
TORONTO - Survey results released May 2 by MSN Canada show that on average, Canadians connect with about 23 different people every day. Monday is by far the busiest day of the week for communicating (32 per cent), followed by Saturday (18 per cent) and Friday (17 per cent).
While face-to-face conversations are still the most common way to
exchange ideas - accounting for 38 per cent of daily interactions - email is
gaining fast, coming in a close second at 30 per cent. Other popular forms are
mobile telephone (12%), home telephone (20%) and instant messaging (20%).
The online poll of 1,013 Canadians was conducted by Ipsos Reid from
March 31 - April 3, 2006, among visitors to the Sympatico.MSN.ca Web site.
Most survey respondents (83 per cent) say they feel communicating online
has an overall positive effect on their life. Almost half (49 per cent) of
those polled believe using the Internet to communicate has allowed them to be
more outwardly social, while 45 per cent say it has helped them locate long-
lost friends, and 39 per cent say it lets them act more like themselves.
Results of the survey also show that people choose specific ways to
communicate with others, based on their relationship and the time of day.
Thirty-three per cent prefer to contact a romantic partner or spouse via
mobile phone (email was a distant second at 16 per cent), but use instant
messaging over mobile phones to chat with old friends (11 per cent vs. 5 per
cent). When it comes to communicating passionately romantic or angry messages,
a whopping majority - over 90 per cent - still prefers face-to-face
conversations.
While Canadians use different communications tools to interact with
different people, when they get home from work they are just as likely to send
instant messages as they are to chat on their mobile phones. Both
communications tools were chosen by 20 per cent of respondents as a preferred
means of connecting with people in the evenings.
"The sheer variety of online tools such as email, text-messaging and MSN
Messenger are helping to break down traditional communications barriers," said
Owen Sagness, vice president, MSN Canada. "The ability to connect any time,
virtually anywhere, is having a dramatic impact on the way Canadian society is
evolving. The tools are more than just a way to keep in touch - they are now
part of the way Canadians socialize on a daily basis."
Those polled who prefer to communicate using text-based technologies such
as email, instant messaging and SMS say they do so because it allows them to
communicate anywhere and everywhere (74 per cent); is the easiest way to keep
in touch (63 per cent); is fast (61 per cent); and allows them to communicate
on their own terms, when time permits (58 per cent). Of these technologies,
Canadians use email most often - an average of 7.3 times per day.
How and When Canadians Communicate
The survey results also highlighted some interesting communication habits
that vary according to day of week and time of day:
- While 78% are likely to use email both during the work week and on
weekends, there is a wide gap between the numbers using email only
during the week (19%) versus only on weekends (2%), which
indicates people use email much more at work than at home
- Mobile phone use increases when people are likely away from a
computer, for example during their morning commute (9%) or on
weekends (14%)
- More are likely to communicate by written letters or notes (15%
vs. 9%) and by telephone call (12% vs. 5%) during the work week
than on the weekend
- People are more likely to use email or instant messaging over
mobile phones at times when they have access to a computer: email
is more popular than mobile phones in the morning and during
breakfast (18% vs. 3%); after 9 p.m., instant messaging and email
(both 12%) are more popular than SMS messaging (2%)
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Study: A review of wholesale trade 2005
In 2005, Canada's wholesale trade industry recorded its best performance of the past six years in constant dollars, with much of the impetus coming from the four westernmost provinces, according to a new study reviewing last year's wholesale performance.
Wholesalers, who are a key link between manufacturers and the marketplace, sold merchandise worth more than $470 billion last year, up 5.4% from 2004. However, when adjusted for inflation, the gain was 7.8%, indicating that last year's increase in value was mainly the result of higher volumes.
During the past three years, wholesale companies in Western Canada have experienced the strongest growth.
The study found that sales among wholesalers in Manitoba, Saskatchewan, Alberta and British Columbia have risen at an average annual rate of 9.1%. In 2005, wholesalers in these four provinces together accounted for 60% of the total increase in wholesale sales nationally.
Moreover, all three Prairie provinces recorded double-digit growth rates in wholesale sales last year.
The growth of wholesale sales in British Columbia has exceeded the Canadian average since 2002. In 2005, the province's wholesalers sold $47 billion worth of merchandise, a healthy 8.6% increase, compared with the national average of 5.4%.
Quebec wholesalers sold merchandise worth nearly $91 billion in 2005, a 5.7% increase, slightly higher than the national average.
In Ontario, a poor performance in the automotive sector put the brakes on wholesale growth in the province. Ontario's huge wholesale trade industry experienced a growth rate of only 2.2% in sales last year, less than half the rate of growth of 5.5% in 2004. Excluding the motor vehicle sector, wholesale sales in this province grew by 4.3%, getting closer to the national average.
Wholesalers in the Atlantic provinces recorded a decline in activity for the second year in a row in 2005, as sales rose in only Newfoundland and Labrador.
At the national level, the companies most responsible for last year's gain were those in the machinery and electronic equipment sector, which includes products such as heavy industrial equipment as well as computers and office and professional equipment. This sector represented barely one-fifth of all wholesale sales last year, but it accounted for nearly one-third of the year-over-year growth according to the results of the study.
For a second consecutive year, businesses made huge investments in machinery and electronic equipment. Wholesale sales in this sector exceeded $95 billion, up 8.6% from 2004 and well above the national average of 5.4%.
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Study: How students fund their postsecondary education for 2001/2002
In general, no single source of funding was sufficient to cover the basic cost of postsecondary programs for a majority of students during the 2001/02 academic year, according to a new study.
This study used data from the 2002 Postsecondary Education Participation Survey to examine costs of education involving tuition, fees, books and supplies, and financial support for students aged 18 to 24 (17 to 24 in Quebec) who pursued postsecondary studies during that year.
The study looked at funding for students with different levels of education costs those in less expensive programs (costing less than $2,500), moderately priced programs ($2,500 to $5,000), and more expensive programs (over $5,000).
About a quarter of students were enrolled in the less expensive programs, 36% in moderately priced programs, and 40% in the more expensive programs.
Typical educational costs for young people in postsecondary education in 2001/2002 amounted to about $4,000. This included costs related to tuition fees, books and supplies.
Overall, personal savings is the most common source of funds followed by income from employment and money from family, partner and friends.
About 85% of students enrolled in the most expensive programs reported personal savings as a source of funding. But even these did not cover tuition fees, books and supplies for a majority of students.
Personal savings covered or exceeded education costs for only about 24% of students enrolled in these programs. In fact, it was only in the less expensive programs that any one source of funding was able to cover tuition fees, books and supplies for more than half of the students.
Student loans, an important source of financial support, were used by 26% of students. However, only 15% of all students covered their education costs with student loans (or about 60% of loan recipients).
Almost all loan recipients in the least expensive programs were able to cover their education costs with this source, while this was the case for less than half of the students in the most expensive programs.
Grants and scholarships, the other main form of non-family or personal financial support, tended to be too small to cover education costs. Although 29% of students received grants or scholarships, this source of funding covered education costs in full for only 5% of the student population.
Students use money from a wide variety of sources to fund their studies, but some sources brought more funds than others. During the 2001/2002 academic year, over 90% of students relied on more than one source.
As would be expected, students in more expensive programs were more likely to use more sources than those in the less expensive programs.
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Canadian Gaming Association: Study Reveals Support for Canadian Gaming Industry
VANCOUVER, BRITISH COLUMBIA - The overwhelming majority of Canadians see gaming as a fun and acceptable form of entertainment. Those who play are mostly responsible gamblers who stick to a fixed budget. Few Canadians are aware that Canada invests more money per capita on responsible gaming research and treatment than other countries. The CGA says industry needs to do more to educate the public about its contribution to government programs, charities and world-leading responsible gaming efforts. In a recent poll of Canadian attitudes toward gaming, the overwhelming majority of Canadians see gaming as a fun, responsible and acceptable form of entertainment.
The poll, conducted by PMG Consulting of Waterloo, Ontario, also found that Canadians are responsible gamers who self-regulate their spending and consistently play with a pre-determined limit. The poll's findings were released at the plenary session of the 10th annual Canadian Gaming Summit in Vancouver. The research also revealed that there are misconceptions about gaming in Canada, in particular with respect to responsible gaming and the perception by Canadians that more needs to be done to address problem gambling. Canadian Gaming Association President and CEO, Bill Rutsey, said the research points to a lack of public knowledge of the significant efforts already being undertaken by the industry to ensure responsible gaming.
"The PMG poll highlights that few Canadians are aware that the Canadian gaming industry contributes $7 billion to governments and charities and invests about $75 million annually on responsible gaming research and treatment - more per capita than any other country," Mr. Rutsey added. "As an industry, we need to do more to educate the public about the extensive efforts being undertaken by our members, to help Canadians to better understand the full scope of our efforts." According to Mr. Rutsey, some of the ways the industry can overcome these misconceptions include educating the public about how revenues are invested, and demonstrating to communities with gaming sites the significant economic and social contributions made by the industry to local businesses and municipalities. The Canadian gaming industry generates $14 billion in revenues a year and directly supports more than 50,000 jobs in Canada, including 8,500 jobs in British Columbia. The preliminary results of the PMG poll are part of the gaming industry's long-term approach to surveying the attitudes of Canadians towards gaming, and form part of its ongoing research.
The Canadian Gaming Association (www.canadiangaming.ca), formed in March 2005 and headquartered in Toronto, represents Canada's leading gaming operators and suppliers. The CGA speaks to issues of national and regional importance as the voice of the industry, with a mandate to foster a balanced understanding of gaming by bringing facts about the industry to the general public, elected officials, other decision makers and the media.
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VP Research Reappointed
Prof. Alan Wildeman has been reappointed to a second five-year term as vice-president (research). The announcement was made today by president Alastair Summerlee.
“The University has experienced major growth in its research activities during the past five years,” said Summerlee, who chaired a committee that reviewed Wildeman’s first term in office, which began in 2001.
Each year for the past three years, U of G has been named Canada’s No. 1 comprehensive research university, a ranking that is based both on research income and output measures such as publications and research intensity. In addition, Guelph has been the top comprehensive university for four straight years in the annual “Top 50 Research Universities List,” which ranks Canadian universities based solely on sponsored research income.
“Dr. Wildeman has shown strong leadership and guidance in facilitating this growth while managing a research portfolio that is extremely complex and has undergone significant change,” said Summerlee.
The Office of Research mandate includes managing some $124 million in annual research funding.
Research and scholarship across the disciplines are of fundamental importance because they make Guelph a richer institution, they underpin innovation and they enhance the University’s ability to deliver outstanding education and training, said Summerlee.
“Alan has worked hard to build on Guelph’s reputation for its multidisciplinary and interdisciplinary research excellence, to foster important external partnerships that broaden the way the world sees us, and to improve the quality of the University’s research infrastructure.”
In 2002, Wildeman oversaw the extensive consultative planning process associated with the restructuring of services and facilities funded under U of G’s enhanced partnership with the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA). The partnership includes the University’s campuses in Ridgetown, Kemptville and Alfred, numerous research stations and Laboratory Services.
Looking forward, Summerlee and Wildeman see three important priorities for the Office of Research. First, there will be a complete review of the office’s service mandate, looking at ways the office can support the growing research community and support how regulatory issues are introduced and managed. Second, U of G will be renegotiating the OMAFRA contract, which provides a vital component of the innovation agenda for agriculture and life sciences in the province. Third, the University will review the way research infrastructure is managed at the institution. Guelph will also continue to focus on the unique ways teaching and research are integrated and supported here.
“The University of Guelph is truly an extraordinary place for creative endeavours,” said Wildeman. “Our success is due entirely to the quality of our faculty, staff and students, and I am truly honoured to have been asked to serve another term. I look forward to continuing to help the Office of Research best support everyone’s aspirations and to working with the president and my colleagues to position Guelph so that it makes an even greater difference in the world.”
In addition to Summerlee, the review committee included deans, professors and staff members. They examined services, grant applications, ethics practices, technology transfer, international activities and commercialization under the Office of Research. The committee sought input and feedback from the U of G community on the areas of leadership, administration and management, relationship and partnership building, communications and oversight of the OMAFRA contract. The committee also sought and received wide feedback from members of internal and external communities associated with the University’s research enterprise.
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Third-Generation (3G) Mobile Phones Are Inspiring Their Own Rules, Behaviours and Communities, Says a New Report by Motorola
BASINGSTOKE, U.K. - Are you the leading wo/man who enjoys the spotlight and embraces the new videophone age? Or the no-show who shuns it for fear of being caught out in places that are hard to explain? How is etiquette muscling in on the next-generation of mobile phones and why are grandparents buying not one but two devices to be part of the action?
From the discovery of new trends and whole phone communities to the
evolution of e-novels and the instant postcard, Motorola's global survey of 3G
users explores the human side of next-generation mobiles. The Generation HERE
report published today reveals that the take-up of the latest super-handsets
and services is not only growing, but is also fundamentally changing the way
in which users live and communicate.
Dozens of writers and journalists travelled the world to interview and
observe 3G users in different cultures for Generation HERE. This methodology,
Motorola says, led to a report that had a qualitative rather than quantitative
approach to give a fuller picture of the 3G world.
"This was a report about nuances," explains its editor Peter Lyle.
"Behaviour and adaptation, creative and unexpected usage. Ultimately it isn't
difficult to get statistics about penetration, but those statistics, although
they still have relevance, do not tell the whole story of how a new technology
impacts upon people's lives."
Generation HERE uncovered a surprising 3G age range among users. While it
is typical to see teenagers using their mobiles to access community services
like Japan's Mixi and Sweden's LunarStorm, the report's research team also
spoke to Japanese grandparents who keep two 3G phones -- one for themselves,
and the other for recording and sharing pictures and videos of their
grandchildren.
"Generation HERE is an exercise in gathering stories and recognising
patterns," says Douglas Hunter, consumer insights manager, Motorola Mobile
Devices Europe. "We conceived it as a snapshot of how people are responding to
3G here and now, and of how they see its future. And there's surprisingly
little material out there that approaches the technology -- any technology, in
fact -- in that way. So in a way we've learnt as much from it as anyone else."
An exclusive podcast featuring in depth discussion of Motorola's
Generation HERE with researcher Stephen Armstrong is available for download at
The Podcast Network (TPN) at:
http://gadget.thepodcastnetwork.com/the-gadget-show-49-generation-here/ .
TPN is the world's leading provider of managed podcasts. Launched in February 2005, it has grown to a service that has delivered over one million shows to listeners in over 150 countries.
Motorola's complete Generation HERE report is available at http://www.whatisrazrspeed.com .
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Study: The impact of human capital on provincial standards of living 1951 to 2001
The accumulation of human capital has played a strong role in explaining relative levels of per capita income across the provinces during the past half century, according to a new report.
This report examines the role of human capital as measured by two concepts (the accumulation of literacy skills and university achievement) to explain the relative levels of income per capita in the provinces between 1951 and 2001.
University achievement was measured as the percentage of the working-age population holding a university degree. Literacy test scores were derived from the 2003 International Adult Literacy and Skills Survey. Data were intended to capture the mean literacy level of labour market entrants aged 17 to 25 for each of the provinces.
The report found that the impact of human capital on per capita income was positive and significant, whether human capital was measured by literacy results or the level achieved in university, or both.
It also found that the skills acquired by one extra year of schooling resulted in an increase in per capita income of around 7.3%.
However, literacy skills were no more important than university attainment in explaining these gains in per capita income. This finding contrasted with previous research showing that literacy indicators outperformed schooling indicators on a national basis.
The analysis took into account Canada's large degree of urbanization as well as the impact of certain economic events that shook the growth patterns of certain provinces.
The relative rate of urbanization across the provinces had a positive and highly significant impact on relative income per capita, the report found.
However, the report acknowledged that the analysis did not take into account migration flows that occurred during the 50-year period.
Studying the transfer of human capital across the provinces based on literacy test scores would allow a better understanding of factors determining the migration of skilled labourers, and its impact on converging standards of living from one region to another.
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Canadians experiencing life overload: survey
New OnStar Overload Survey finds Canadians overwhelmed with multitude of day-to-day tasks and appointment; new in-car technology available to help shoulder the load
OSHAWA - Do the kids have soccer or music lessons tonight? Is my doctor's appointment this Tuesday or next? When is the car due for an oil change? These are all examples of daily minutia that contribute to four in 10 Canadians (44%) feeling overwhelmed by the sheer volume of tasks and appointments in daily life, according to the OnStar Overload Survey, a new survey of Canadians released in April.
"The stresses of daily life are all around us, from remembering to pick
up milk to scheduling your next vehicle maintenance appointment," said Dave
Mitchell, OnStar Canada. "While these tasks and appointments are not likely to
go away, there are new technologies available to help you navigate this sea of
responsibility and bring you added peace of mind."
Life Overload
- Women (51%) feel the pressure far more than men (35%).
- According to the OnStar Overload Monitor, adults aged 35-44 report
feeling the most overwhelmed (58%), but those over the age of 55
report the least (36%) affected;
- More than half of Albertans (51%) feel inundated with the
responsibilities of day-to-day life compared to one-third (35%) of
those in Manitoba/Saskatchewan;
Can your car keep you on track?
To help Canadians manage their busy lives and check one more item off of
the to-do list, OnStar's new Vehicle Diagnostics lets the expert - your
vehicle - alert and remind you when it's due for scheduled maintenance.
Each month, your vehicle will automatically email you a detailed
diagnosis on its engine, transmission, airbag, antilock brake, and OnStar
systems, as well as your odometer reading and remaining oil life. This monthly
report card provides peace of mind for drivers that everything is functioning
properly under-the-hood or by alerting you if something needs attention right
away.
"Until cars can talk, OnStar Vehicle Diagnostics is the best way to
assess the performance of your vehicle's key operating systems," said
Mitchell. "This monthly report card email provides invaluable information
directly from your vehicle to help protect your investment and keep it running
smoothly."
Forgetting or missing scheduled appointments is to blame for increased
levels of stress and feeling overwhelmed amongst Canadians:
- More than forty per cent (43%) of Canadians admit they've forgotten to
attend or schedule up to five appointments in the last year.
- Contrary to popular belief, the survey results defend the aging
population as young adults are more likely than senior citizens to
forget an appointment. More than half (55%) of those 18-24 admit to
forgetting up to five appointments a year versus only one-third (33%)
of those over the age of 55.
Staying on Track
Canadians are at least taking steps to remedy their absentmindedness by
relying more on alarms and other reminder tools to keep their lives on track
- Overall, one-third of Canadians (31%) report increased usage of alarms
or reminder mechanisms to help them keep track of appointments
- Quebeckers are the most reliant on reminders (41%); Atlantic Canadians
the least (18%)
"As drivers, we've been taught to change our oil every 5,000 kilometres.
However, today maintenance is more in-tune with your specific vehicle and
driving habits," said Mitchell. "OnStar Vehicle Diagnostics closely monitors
your vehicle's daily oil life and sends you an e-mail if it drops below
20 per cent, eliminating unnecessary oil changes. Not only does this mean less
impact on your wallet, but less impact on the environment, too."
OnStar Vehicle Diagnostics is exclusively for GM customers. No other
manufacturer offers this unique, valuable and comprehensive diagnostic service
to its customers remotely to the vehicle or directly to the customer's home
computer.
The new monthly vehicle diagnostic service is offered to eligible OnStar
subscribers at no additional charge. OnStar subscribers can always request a
GM Goodwrench On-demand Diagnostics check at any time during the month by
pressing their blue OnStar button. OnStar advisors perform "real-time"
on-demand diagnostics checks for subscribers more than 1,200 times a month.
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Study: Who gets student loans? 2000
Over half (52%) of the full-time post-secondary students aged 18 to 24 with parental income below $40,000 received a loan from the Canada Student Loans Program (CSLP) in 2000, compared with 14% of students with parental income of $80,000 or more, according to a new study.
The average loan amount declines as parental income increases. In 2000, about two-thirds of the value of CSLP loans went to students with parental income below $60,000, 73% in the case of dependent students and 51% in the case of independent students.
Since the CSLP is intended to help students from lower- and middle-income families meet the costs of post-secondary education, the study addresses the following questions: How well are student loans targeted to low-income youth?, To what extent does the amount of the loan reflect the level of financial need?, What are the consequences of taking parental income into account for students considered dependent on their parents?
Using a database created by linking the Statistics Canada Longitudinal Administrative Database to CSLP administrative records, the study concentrates on persons aged 18 to 24. Quebec, the Northwest Territories, and Nunavut do not participate in the CSLP and were therefore excluded. Yukon was also excluded because of sample size limitations.
The CSLP distinguishes between "dependent" and "independent" students (married people, single parents, those who had been employed in the last 24 months and those who left high school more than four years ago).
In the case of dependent students, parental income is taken into account in assessing financial need. It is therefore not surprising that their CSLP take-up rate declines rapidly at higher parental income, from 61% in 2000 for those with parental income below $20,000 to 6% for $100,000 and over.
Female students had a higher CSLP take-up rate than their male counterparts (34% versus 29%). But they also had a higher full-time post-secondary participation rate (38% versus 30%).
Students of families who came to Canada since 1980 had a much higher CSLP take-up rate than others (45% versus 31%). The difference is partly attributable to lower parental income: 58% of these immigrant students had parental income below $40,000, compared with 29% of other students.
Of all the regions, Ontario stands out as having the most targeted loans and the most evenly distributed enrolment rates. Its average CSLP take-up rate was similar to other regions except the Atlantic, but the gap in rates between low and high parental income was the greatest.
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Study: Adult education and its impact on earnings - 1993 to 2001
On average, workers who participated in adult education and obtained a post-secondary certificate made significant gains in wages and earnings, according to a new study.
The study documented participation patterns in adult education among workers during two periods: 1994 to 1997, and 1997 to 2000, using data from the Survey of Labour and Income Dynamics. It also examined the impact of adult education on hourly wages and annual earnings, taking into account factors such as union status, occupation, firm size, industry and province.
Around 14% of Canadian workers participated in adult education during the study period, while 8% obtained a post-secondary certificate through it.
On average, young men who went back to school and obtained a post-secondary certificate saw their wages increase 8% more than those of their counterparts who did not go back to school. The equivalent increase among young women was 10%.
However, gains differed from group to group. For example, increases among older workers, those aged 35 to 59, were restricted to those who stayed with the same employer.
Older men who stayed with the same employer while obtaining a post-secondary certificate registered gains in hourly wages that were on average 13% higher than those registered by their counterparts who did not go back to school. The gain among their female counterparts was 7%.
Both older men and women who stayed with the same employer recorded superior increases in terms of annual earnings as well.
The wages and earnings of older men and women who obtained a post-secondary certificate and switched employers did not increase faster than those of their non-participating counterparts.
Among young women who switched jobs, those who obtained post-secondary certificates registered hourly wage gains on average 15% higher than those who did not participate in adult education.
Among young men who obtained post-secondary certificates, those who switched jobs enjoyed 8% higher wage gains than their non-participating counterparts. Those who stayed on the same job received 6% higher wage gains than their non-participating counterparts.
It is unclear why older workers who obtained a diploma and switched employer did not enjoy stronger earnings growth than their counterparts who did not go back to school.
One possible explanation is that the additional earnings they might have obtained through their diploma were offset by the loss of firm-specific knowledge and skills they incurred while changing employers.
The study supported previous research and it suggested that workers with high school education or above were twice as likely to participate in adult schooling and to obtain a post-secondary certificate as those with less than a high school education.
It also showed that younger adults were more likely to participate in adult education programs. Those aged 17 to 34 were more likely to participate than their older counterparts aged 35 to 59.
Marital status was another factor, particularly among women. Single women were more likely to participate than married women, and single women were twice as likely as divorced women to obtain a post-secondary certificate.
Note: Adult schooling participants are defined as those who had previously left school and worked for at least a year before they went back to school. In the context of this study, attending school is defined as enrolment in a credit program in a formal educational institution.
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Survey on Financing of Small- and Medium-sized Enterprises 2004
The bigger the enterprise is in terms of employees, the higher its average outstanding debt, according to results from the Survey on Financing of Small- and Medium-sized Enterprises.
Businesses with 1 to 4 employees had average debt of $187,000 in 2004. Those with 5 to 19 employees carried an average of $489,000 in debt, while the average among businesses with 20 to 99 employees was $2.2 million.
In total, small- and medium-sized enterprises had $377 billion in total debt outstanding in 2004, up 4.7% compared with $360 billion four years earlier.
On the other hand, the average for all enterprises declined 5.1% from $293,000 in 2000 to $278,000 in 2004. This is because the number of enterprises rose faster than total debt during the four-year period.
Total debt is comprised of all liabilities on business' balance sheets. It includes loans and mortgages from banks and other financial institutions, credit card balances, lease obligations, credit obtained from crown corporations, short-term trade credit owed to suppliers and loans from private individuals.
The survey, conducted in the fall and winter of 2004, covered about 3,500 responding firms with fewer than 500 employees and less than $50 million in revenue. Survey results cover seven industry groupings, five employment sizes, six geographic regions and start-ups as opposed to established firms.
On a sectoral basis, average debt rose slightly between 2000 and 2004 among businesses in three key sectors: wholesale and retail trade; tourism; and agricultural and primary industries.
However, average outstanding debt among businesses in the manufacturing sector declined by about one-quarter to $390,000. At the same time, their total debt fell 15% to about $29 billion.
This result is consistent with independent findings for larger incorporated enterprises as reported by Statistics Canada's quarterly financial statistics for enterprises. Those data show borrowings rose 6.0% from 2001 to 2004 among non-financial industries. However, they declined 4.3% in the manufacturing sector.
Small- and medium-sized businesses cited "personal savings" and "retained earnings" as the most important sources of financing continuing operations. Others were lines of credit, trade credit of suppliers, commercial loans and personal credit cards. These were also the sources most frequently cited in 2000.
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Study suggests that the ethical environment of corporate America is improving.
A study published in the April issue of the Journal of Small Business Management finds that the business world is not going the way of Enron. Or the way of Arthur Andersen. Or the way of WorldCom. Instead, research shows that over the past 17 years the ethics of business leaders and professionals is improving. In recent years business owners and managers are making more ethical decisions.
The study was based on responses from more than 5,000 managers of both small and large firms in all 50 states. Over a time period stretching three decades, the authors mailed surveys to respondents in 1985, 1993, and 2001 asking them to judge the degree to which they found 16 scenarios compatible to their own ethical views. The business situations ranged from the illegal to the debatable. With the exception of the 1993 survey, in which small business respondents showed a propensity to be less ethical, there was no difference between large and small firms. Both showed increasingly positive selections.
This study is published in the 50th Anniversary Special issue of the Journal of Small Business Management .
The Journal of Small Business Management features articles on small business research around the world. This quarterly journal covers many topics of interest to researchers and educators, as well as practitioners, in the fields of entrepreneurship and small business. It is the official journal of the International Council for Small Business.
This issue is dedicated to lead author Justin G. Longenecker.
Co-authors Carols W. Moore, J. William Petty, Leslie E. Palich, and Joseph A. McKinney are at the Hankamer School of Business at Baylor University.
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Study: Trends in the prices of rurality -1949 to 2005
The cost of transporting goods and information has generally declined relative to the cost of all goods and services over the last 50 years, and this has made rural areas in Canada more competitive, according to a new study.
At the same time, however, the cost of transporting people has generally risen in relative terms, presenting a challenge for rural areas.
This study uses data from the System of National Accounts and the Consumer Price Index to analyze prices of transporting goods, information and people relative to the price of all goods and services in Canada. It links these trends to the competitiveness of Canada's rural areas.
The concept of "rurality" is defined by distance and population density. A decline in the price of distance would indicate a decline in the price of rurality and, consequently, a greater ability for rural areas to compete with urban areas.
In terms of carrying goods, railroad transport prices have generally fallen in relative terms since the 1960s. The cost of moving goods by truck was flat, or rose slightly, between 1960 and 1977, but fell after that. In contrast, the overall price of air transportation (both goods and people) has generally risen since the 1960s.
The decline in the price of transporting goods is one factor explaining the spread of manufacturing jobs into rural areas. Rural Canada has always had manufacturing jobs, such as fish processing, smelting, sawmills and pulp and paper plants. However, some of the newer manufacturing jobs are part of the network of just-in-time delivery systems.
To the extent that the price of transporting goods might be expected to decline in the future, manufacturing jobs would be expected to continue to spread into rural areas.
Taken together, the trend towards a relative drop in the cost of transporting goods and information represents an opportunity for rural-based manufacturers.
The upward trend in the relative price of transporting people has important implications for rural areas of Canada. For example, the increase in the relative cost for city residents to visit rural areas represents a challenge for rural-based tourism.
The price of communicating information from one location to another has generally been declining over time.
Within the communications sector, telephone services fell from the early 1960s to the end of the 1980s and have been more-or-less flat since then, relative to the cost of all goods and services. Further, the cost of accessing the Internet has declined, relatively, in recent years.
This has led to a relative decline in the price of rurality, with respect to communication flows. However, the decline of telecommunication prices may even have been greater in urban areas.
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Mining Executives Rate the Investment Climate of Jurisdictions Around the World
TORONTO - The ninth annual Survey of Mining Companies, released today by The Fraser Institute, holds good news for Canada's western provinces and bad news for the eastern provinces.
In this year's survey, companies responsible for a combined total of US$1.83 billion in international exploration (in 2005)-a third of the global total-rate the policy attractiveness and mineral potential of mining jurisdictions in North America and internationally.
Companies are asked to provide their opinions about the investment attractiveness of 64 jurisdictions around the world, on every continent except Antarctica, including the Canadian provinces and territories, the Australian states, selected US states, and jurisdictions across Europe, Asia, and Africa.
The Canadian Results
For the first time in the survey's history, British Columbia ranks in the top half of policy attractiveness. Until last year, British Columbia had languished in the bottom 10 spots on the ranking and was typically in the bottom five.
The three Atlantic Provinces in the survey-New Brunswick, Newfoundland, and Nova Scotia-all suffered declines in this year's survey, while Alberta is now seen to have the world's second most attractive policy environment.
Both Nova Scotia and Newfoundland lag British Columbia for the first time in the survey's history. New Brunswick remains ahead, though it has been consistently falling while British Columbia has been consistently rising.
"British Columbia may provide an object lesson for the Atlantic provinces," said survey coordinator Fred McMahon. "British Columbia's policy environment began changing for the better several years ago; however this only gradually resulted in better scores. Perceptions are slow to change in the mining industry-mining companies spend a long time pumping money into the ground before they start making money. If miners are going to invest, they need to know that a good policy today will still be in place when they start making their money back. Damage to a province's reputation can take years to repair."
Manitoba, Quebec, Saskatchewan, and Ontario continue to score highly compared to their global competition, while the Northwest Territories and Nunavut are close to the bottom of the rankings. The Yukon has made steady advances over the last three years and now is in the top third of the survey.
Policy Potential Index
The survey queries miners on 12 separate policy areas affecting mining. The Policy Potential index is a composite measure of these areas.
"The Policy Potential Index serves as a report card to governments on how attractive their policies are from the point of view of an exploration manager," said McMahon. "A jurisdiction's policy climate has taken on increased importance in attracting and winning investment in today's globally competitive economy where mining companies may be examining properties located on different continents."
Nevada obtained the highest score on this index, while Zimbabwe received the lowest.
This is the sixth straight year Nevada is rated as having the best mineral policies. The other top 10 policy jurisdictions are Alberta, Manitoba, Chile, Quebec, Mexico, Saskatchewan, Arizona, Ontario, and Utah. For the most part, last year's top 10 jurisdictions were either in this year's top 10 or nearly so.
Zimbabwe continues to set new records for its poor performance. Its last place score of 7.6 last year was the lowest score recorded in the previous four years. This year Zimbabwe's score fell to 2.4, the lowest in the survey's history. Also at the bottom were Papua New Guinea, DRC Congo, Venezuela, the Philippines, Indonesia, Russia, Zambia, Bolivia, and California.
Current Mineral Potential Index
Current Mineral Potential is based on respondents' answer to the question on whether a jurisdiction's mineral potential under the current policy environment encourages or discourages exploration.
Chile, Nevada, Mongolia, Quebec, Mali, South Australia, Ghana, Mexico, Ontario, and Western Australia hold the top 10 slots. All scored strongly last year and most were in last year's top 10.
Not surprisingly, the jurisdictions at the bottom of the list are also consistent with last year's poor performers-and in most cases with poor performers in the Policy Potential Index.
Colorado comes in last and is joined by California, Zimbabwe, Ireland, Wisconsin, Washington, Minnesota, Ecuador, DRC Congo, and Venezuela. These jurisdictions all scored near the bottom last year, with the partial exception of Ireland (39 out of 64 last year), which has generally fallen in this survey from last year's.
Best Practices Mineral Potential Index
From a purely mineral perspective, the most appealing jurisdictions are Nevada, Nunavut, Canada's Northwest Territories, Indonesia, Papua New Guinea, DRC Congo, Ghana, Mali, Peru, and Russia. All scored highly last year, except for Ghana and Mali, which were in the middle of the pack.
The least appealing jurisdictions are Nova Scotia, Alberta, Finland, Ireland, Wisconsin, New Brunswick, New Zealand, Sweden, Tasmania, and Spain. Not surprisingly, there is a large correspondence between these rankings and rankings in previous years.
Room for improvement
The survey also calculates which jurisdictions have room to improve their regulatory environments. Many of the jurisdictions with the greatest room to improve are developing countries where additional investment, and job, wealth, and capital creation are most needed.
These include the Zimbabwe, DRC Congo, Papua New Guinea, Zambia, China, Venezuela, and Peru. Except for China, miners indicated significant security problems with all of these nations, particularly DRC Congo and Zimbabwe. Nearly three-quarters of the respondents indicated they would not consider investment in these two nations due to security concerns.
However, some of worst performers are from the developed world and include Colorado, California, and Montana.
"Mining executives are becoming increasingly willing to invest their exploration dollars around the globe. Attractive geology is necessary, but not enough. Governments who want to maintain viable mining industries in their jurisdictions must enact favourable policies to encourage investment," said McMahon.
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Investor Confidence Index Rises to 82.6 in March
BOSTON -The investment research and trading arm of State Street Corporation , released March 21, 2006 the results of the US based State Street Investor Confidence Index(R) for March 2006.
According to the March index, investor confidence increased to 82.6 from February's revised reading of 72.1. Looking regionally, the confidence of North American institutional investors rose strongly to 94.1 in March from a revised reading of 83.3 in February. The European Index increased from 78.9 in February to 93.6, and the Asian Index declined slightly from 80.7 to 79.2 in March.
Developed through State Street Global Markets' research partnership, State Street Associates (SSA), by Harvard University professor Ken Froot and SSA Director Paul O'Connell, the State Street Investor Confidence Index(R) measures investor confidence on a quantitative basis, analyzing actual buying and selling patterns of institutional investors. The index is based on financial theory that assigns precise meaning to changes in investor risk sentiment, or the willingness of investors to hold proportionally more or less of their portfolio in equities. The more of their portfolio that institutional investors are willing to devote to equities, the greater their risk appetite or confidence.
"We see a strong resurgence of interest in broad allocations to risky assets by professional investors," commented Froot. "The updraft is very strong in the U.S. and in Europe -- strong enough to reverse the recent downward trend in confidence."
"Investors over the past six months had been quite concerned about the prospects of a protracted tightening in liquidity and were taking a very defensive tack with regard to their portfolios," commented O'Connell. "In March, we have seen that these concerns have ebbed, leaving investors more optimistic that the Fed need not raise rates much further. This, combined with a sense that growth remains solid, has led to investors acquiring more broadly diversified positions in risky assets -- a sure sign of increased confidence."
Since its launch in September of 2003, the State Street Investor Confidence Index(R) has become a key economic indicator for asset owners, investment managers and central banks. As the only index providing a quantitative measure tracking the common buying patterns of institutional investors around the world, the State Street Investor Confidence Index(R) offers a unique look into the investment behavior and decisions of thousands of professional investors and their investment decisions.
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