To see the other types of publications on this topic, follow the link: Australian banking industry.
Journal articles on the topic 'Australian banking industry'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Australian banking industry.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Al-Hajri, Salim, and Arthur Tatnall. "A Socio-Technical Study of the Adoption of Internet Technology in Banking, Re-Interpreted as an Innovation Using Innovation Translation." International Journal of Actor-Network Theory and Technological Innovation 3, no. 3 (July 2011): 35–48. http://dx.doi.org/10.4018/jantti.2011070103.
Full textAbstract:
This article presents a re-interpretation of research done in the mid-2000s on uptake of Internet technologies in the banking industry in Oman, compared with that in Australia. It addresses the question: What are the enablers and the inhibitors of Internet technology adoption in the Omani banking industry compared with those in the Australian banking industry? The research did not attempt a direct comparison of the banking industries in these two very different countries, but rather considered Internet technology adoption in Oman, informed by the more mature Australian experience. The original study considered Internet banking as an innovation and used an approach to theorising this innovation that was based on Diffusion of Innovations and the Technology Acceptance Model (TAM). Given the socio-technical nature of this investigation, however, another approach to adoption of innovations was worth investigating, and this article reports a re-interpretation of the original study using innovation translation from actor-network theory (ANT).
2
Valenzuela, Fredy, Ray Cooksey, Lalith Chandralal, and Rumman Hassan. "Service Recovery in The Australian Banking Industry." Contemporary Management Research 9, no. 4 (December 31, 2013): 463–82. http://dx.doi.org/10.7903/cmr.11370.
Full text
3
Manning, Haydon. "Award Restructuring in the Australian Banking Industry." Journal of Industrial Relations 32, no. 3 (September 1990): 334–52. http://dx.doi.org/10.1177/002218569003200302.
Full text
4
BIRT, JACQUELINE, MIKE KEND, and HUI XIAN. "Changes in Segment Reporting in the Australian Banking Industry." Australian Accounting Review 17, no. 43 (December 31, 2008): 61–67. http://dx.doi.org/10.1111/j.1835-2561.2007.tb00337.x.
Full text
5
Lloyd‐Walker, Beverley, and Yen Ping Cheung. "Project teams and change in the Australian banking industry." Journal of Workplace Learning 11, no. 1 (February 1999): 33–37. http://dx.doi.org/10.1108/13665629910250951.
Full text
6
Soutar, G. N., L. K. Savery, and N. F. Dufty. "Sexual Harassment in the Banking Industry: Some Australian Evidence." Asia Pacific Journal of Human Resources 25, no. 3 (November 1, 1987): 82–88. http://dx.doi.org/10.1177/103841118702500308.
Full text
7
Metwally, M. M. "AN INVESTIGATION OF ADVERTISING RIVALRY IN THE AUSTRALIAN BANKING INDUSTRY." Metroeconomica 43, no. 3 (October 1992): 379–96. http://dx.doi.org/10.1111/j.1467-999x.1992.tb00721.x.
Full text
8
Trubik, Ellie, and Malcolm Smith. "Developing a model of customer defection in the Australian banking industry." Managerial Auditing Journal 15, no. 5 (July 2000): 199–208. http://dx.doi.org/10.1108/02686900010339300.
Full text
9
Lloyd‐Walker, Beverley, and Yen Ping Cheung. "IT to support service quality excellence in the Australian banking industry." Managing Service Quality: An International Journal 8, no. 5 (October 1998): 350–58. http://dx.doi.org/10.1108/09604529810235808.
Full text
10
Cuganesan, Suresh, and Haider Khan. "Assessing the reporting of stakeholder reciprocity in the Australian banking industry." Journal of Human Resource Costing & Accounting 12, no. 2 (June 27, 2008): 85–101. http://dx.doi.org/10.1108/14013380810889538.
Full text
11
Ali, Qaisar, and Shazia Parveen. "A conceptual framework for the role of leadership in financial innovation adoption in the Australian banking industry." Journal of Management Info 8, no. 3 (November 7, 2021): 192–205. http://dx.doi.org/10.31580/jmi.v8i3.2087.
Full textAbstract:
Despite being known as one of the most innovative countries in the world, innovation in Australia has remained stagnant since the 1990s. The main objective of this study is to analyse and evaluate the role of leadership in financial innovation adoption in the Australian banking industry. Specifically, this study focuses on exploring the drivers of innovation, testing the skill and knowledge of leaders to adopt an innovation, the impact of different leadership styles on innovation, and based on the nature of innovation propose the suitable leadership framework for Australian banks using a conceptual framework. The findings of this study are expected to allow Australian banks in evaluating their leaders’ role and formulate relevant strategies to ensure successful innovation adoption. It is projected that the findings will be robust for the businesses as the internal and external shareholders working with leaders to enhance organizational performance can befit from the insight provided in this study. Moreover, this study is projected to assist in charting directions for business leaders in the context of effective leadership practices necessary for improving employees’ retention, profitability, and growth which will ultimately contribute to business practices. The findings will help in providing a better understanding of leadership practices required for leaders’ professional growth which may create more job opportunities. The leaders may learn the ethical and sustainable leadership practices to meet the social expectations through compact strategies which may contribute to social change.
12
SELTZER, ANDREW. "WAGES AND INCENTIVES IN THE LATE 19thAND EARLY 20thCENTURY AUSTRALIAN BANKING INDUSTRY." International Journal of Development and Conflict 01, no. 01 (April 2011): 11–26. http://dx.doi.org/10.1142/s2010269011000063.
Full text
13
Rao, Sally. "Building inter-firm relationships online: perspectives from the Australian internet banking industry." International Journal of Internet Marketing and Advertising 1, no. 4 (2004): 371. http://dx.doi.org/10.1504/ijima.2004.006330.
Full text
14
Bowles, M. L., and M. Lewis. "Threats and Opportunities for Middle Management: New Technology and Competitive Banking." Journal of Industrial Relations 30, no. 1 (March 1988): 54–67. http://dx.doi.org/10.1177/002218568803000103.
Full textAbstract:
Since the 1970s the Australian banking industry has witnessed dramatic change as a result of the introduction of new technology and competitive banking. Such conditions have produced a fundamental change in the nature and management of bank work. This paper addresses what these changes have meant for middle management personnel. It is concluded that for branch managers and accountants there has been a change in the content of their jobs, which is reflected in a reduction in their autonomy and decision-making power, with a new emphasis being given to marketing and selling activities. The new competitiveness in the banking industry has encouraged staff to adopt an 'individual orientation' to their work. It is argued that such changes testify to a clear change in the management of the banking industry and suggest that middle management staff in banks will become increasingly hostile or resistant to further change, with a reduction in the number of middle management personnel, brought about by an increase in the technical control of operations through computerization.
15
Buranatrakul, Thanita, and Fredric William Swierczek. "Climate Change Strategic Actions in the International Banking Industry." Global Business Review 19, no. 1 (September 20, 2017): 32–47. http://dx.doi.org/10.1177/0972150917713371.
Full textAbstract:
This article investigates the actions of international banks related to climate change adaptation. A theoretical framework was developed to assess bank climate change strategic actions based on five categories: management commitment, emissions reduction, product development, organizational involvement and external relationship development. A sample of international banks from 15 countries in four regions was analysed. Significant differences were found in the level of climate change strategic actions by banks across regions. North American banks had the highest scores on management commitment and product development. Australian banks were the top performers in external relationship development. European banks were ranked first in emissions reduction. Asian banks received the lowest score in all the categories of climate change strategic actions. The research is a unique comparative exploratory study of the strategic actions taken to address climate change in the international banking industry. The theoretical contribution of this article is its link between the theory of organizational adaptation and the climate change actions that banks practice. The research is beneficial for bank executives to develop effective environmental actions that will increase climate change mitigation and adaptation globally but particularly in Asia, which is the critical region for climate change actions.
16
Faff, R. W., and P. F. Howard. "Bank exposures to interest-rate risk: the case of the Australian banking industry." Applied Economics Letters 4, no. 12 (December 1997): 737–39. http://dx.doi.org/10.1080/758528718.
Full text
17
Kee, Daisy, Margaret Patrickson, and Mary Bambacas. "Perceived Fairness and HRM: A Study of Management in the Australian Banking Industry." International Journal of Knowledge, Culture, and Change Management: Annual Review 8, no. 3 (2008): 179–92. http://dx.doi.org/10.18848/1447-9524/cgp/v08i03/50541.
Full text
18
Williamson, M. "TAX REFORM IN THE OIL INDUSTRY." APPEA Journal 42, no. 1 (2002): 639. http://dx.doi.org/10.1071/aj01040.
Full textAbstract:
Following the return of the Liberal National Country Party for its second term of office under the Prime Minister, Mr John Howard, the Federal Government established a committee headed by a business executive Mr John Ralph. This Committee produced an extensive report recommending substantial changes to the Australian tax legislation. Following consideration of the report by the Federal Government, substantial amendments were proposed in September and November 1999. Many of these proposals have now been legislated and several remain in the pipeline awaiting Parliament scrutiny.This paper covers the practical aspects of the changes to the tax legislation, along with examination of particular issues associated with new developments in matters such as gas banking. Particular focus has been made on the new Uniform Capital Allowances Provisions and the deductions which will be available to the industry against upstream project development expenditures.
19
Schmulow, Andrew, Karen Fairweather, and John Tarrant. "Restoring Confidence in Consumer Financial Protection Regulation in Australia: A Sisyphean Task?" Federal Law Review 47, no. 1 (February 1, 2019): 91–120. http://dx.doi.org/10.1177/0067205x18816240.
Full textAbstract:
Consumer financial protection and the integrity of the Australian financial system are critical to the Australian economy in many ways, including the provision of an effective banking system, and the security of Australia’s significant superannuation savings. This is especially the case in an environment where financial products have become more complex and difficult for consumers to understand. In recent years there have been several scandals in Australia’s financial sector that have undermined confidence in the financial system, and exposed regulatory failure. The authors argue that there needs to be a more effective oversight of the key regulators in the Australian financial system to maintain confidence in the system, and prevent capture of the regulators by the financial services industry. The authors contend that the recommendation of the Financial System Inquiry for the establishment of an Assessment Board to provide continuous oversight of the financial regulators is an effective solution to the poor regulatory outcomes encountered in Australia in recent years. The consequences of not having such oversight are likely to be more financial scandals, and further instability in the financial system. These deficiencies must be addressed as a matter of urgency.
20
Seltzer, Andrew J. "Implicit contracts and acquisitions: An econometric case study of the 19th century Australian banking industry." German Journal of Human Resource Management: Zeitschrift für Personalforschung 31, no. 2 (January 6, 2017): 185–208. http://dx.doi.org/10.1177/2397002216682463.
Full textAbstract:
It has been argued that hostile takeovers redistribute wealth from workers to shareholders by enabling the acquiring firm to revoke implicit contracts. This paper uses micro-data from personnel records to examine the consequences of the Union Bank of Australia’s 1892 takeover of the Bank of South Australia. The evidence confirms that the lifetime earnings of older workers at the BSA declined because of the merger. They faced a high probability of losing their jobs immediately following the merger, lost specific human capital due to the closure of branches, faced a flatter salary profile over the remainder of their career, and received a reduced pension.
21
Elliott, Gregory R. "The Changing Competitive Environment for the Australian Banking/Finance Industry: Review of a Forecasting Study." International Journal of Bank Marketing 4, no. 5 (May 1986): 31–40. http://dx.doi.org/10.1108/eb010792.
Full text
22
Oates, Grainne, and Roshanthi Dias. "Including ethics in banking and finance programs: teaching “we shouldn’t win at any cost”." Education + Training 58, no. 1 (January 11, 2016): 94–111. http://dx.doi.org/10.1108/et-12-2014-0148.
Full textAbstract:
Purpose – The purpose of this paper is to identify whether ethics is incorporated into the curriculum in postgraduate banking and finance programmes. There is growing concern that moral failure preceded the global financial crisis with waves of ethical scandals overwhelming the global banking industry highlighting a lack of integrity. Consequently, banking and financial institutions have received much criticism for focusing on higher financial returns that bring personal rewards with significant costs to the majority of society. Design/methodology/approach – The population for this study is Australian universities offering banking and finance postgraduate programs. The data for this study were collected from information available on university websites. The study uses content analysis to examine course content in 897 courses offered within banking and finance programmes. Findings – Findings reveal that 809 (90 per cent) out of 897 courses do not incorporate ethics into banking and finance programmes. Most of the 88 courses incorporating ethics as include the course as “core”, with a relatively small number offering ethics as an “elective”. Only a few courses were offered as stand-alone ethics courses. It appears from the information available that little focus is given to assessment of ethics. Originality/value – This is the first study to explore whether ethics is featured in postgraduate banking and finance programmes.
23
Yang, Gan, and Li. "Role of Bank Regulation on Bank Performance: Evidence from Asia-Pacific Commercial Banks." Journal of Risk and Financial Management 12, no. 3 (August 7, 2019): 131. http://dx.doi.org/10.3390/jrfm12030131.
Full textAbstract:
The banking industry is an essential financial intermediary, thus the efficient operation of banks is vital for economic development and social welfare. However, the 2008 global financial crisis triggered a reconsideration of the banking systems, as well as the role of government intervention. The literature has paid little attention to the banking industry in the Asia-Pacific region in the context of bank efficiency. This study employs double bootstrap data envelopment analysis to measure bank efficiency and examine the relationship between regulation, supervision, and state ownership in commercial banks in the Asia-Pacific region for the period 2005 to 2014. Our results indicate that excluding off-balance sheet activities in efficiency estimations lead to underestimating of the pure technical efficiency, while overestimating the scale efficiency of banks in the Asia-Pacific region. Cross-country comparisons reveal that Australian banks exhibit the highest levels of technical efficiency, while Indonesian banks exhibit the lowest average. Our bootstrap regression results suggest that bank regulation and supervision are positively related to bank technical efficiency, while state ownership is not significantly related to bank efficiency. Furthermore, our findings show that tighter regulation and supervision are significantly related to higher efficiency for small and large-sized banks.
24
Gangopadhyay, Partha, Siddharth Jain, and Walid Bakry. "In search of a rational foundation for the massive IT boom in the Australian banking industry: Can the IT boom really drive relationship banking?" International Review of Financial Analysis 82 (July 2022): 102148. http://dx.doi.org/10.1016/j.irfa.2022.102148.
Full text
25
Harker, Callan, Maureen Hassall, Paul Lant, Nikodem Rybak, and Paul Dargusch. "What Can Machine Learning Teach Us about Australian Climate Risk Disclosures?" Sustainability 14, no. 16 (August 12, 2022): 10000. http://dx.doi.org/10.3390/su141610000.
Full textAbstract:
There seems to be no agreed taxonomy for climate-related risks. The information in firms’ climate risk disclosures represents a new resource for identifying the priorities and strategies of Australian companies’ management of climate risk. This research surveys 839 companies listed on the Australian Stock Exchange for the presence of climate risk disclosures, identifying 201 disclosures on climate risk. The types of climate risks and the risk management strategies were extracted and evaluated using machine learning. The analysis revealed that Australian firms are focused on acute physical climate risks, followed by market and regulatory risks. The predominant management strategy for these risks was to use a risk reduction approach, rather than avoiding or transferring risk. The analysis showed that key Australian industry sectors, such as materials, banking, insurance, and energy are focusing on different mixtures of risk types, but they are all primarily managing risks through risk-reduction strategies. An underlying driver of climate risk disclosure was composed of the financial implications of climate risk, particularly with respect to acute physical risks. The research showed that emission reductions represent a primary consideration for Australian firms in their disclosures identifying how they are responding to climate risk. Further research using machine learning to evaluate climate risk disclosure should focus on analysing entire climate risk reports for key topics and trends over time.
26
Seltzer, Andrew J. "Internal labour markets in the Australian banking industry: their nature prior to the Second World War and their recent decline." Accounting, Business & Financial History 14, no. 3 (November 2004): 237–56. http://dx.doi.org/10.1080/0958520042000277757.
Full text
27
Pasculli, Lorenzo. "The responsibilization paradox: The legal route from deresponsibilization to systemic corruption in the Australian financial sector." Policing: A Journal of Policy and Practice 15, no. 4 (November 9, 2021): 2114–32. http://dx.doi.org/10.1093/police/paab068.
Full textAbstract:
Abstract Recent corruption scandals suggest that the legal structures developed to responsibilize corporations might paradoxically enable the systematization of corruption across entire industry sectors. This study uses grounded theory methodology to develop a preliminary theoretical model of the correlations between the law, responsibilization, and the causes of systemic corruption. Through a qualitative examination of documental evidence from the case study of the recent Australian banking scandal, this article conceptualizes a two-way process of ‘legal deresponsibilization’. On the one hand, legal dysfunctions fail to effectively support the situational and cultural goals of responsibilization. On the other hand, the pursuit of such goals transforms the law in ways that can lead to the deresponsibilization of both corporations and the state. The article suggests that structural reforms are needed to correct this process and the underlying systemic imbalances between the legal promotion of financial interests and that of countervailing values of integrity and accountability.
28
Seltzer, Andrew J. "The effects of mid-career military enlistment on civilian career prospects: evidence from the Australian banking industry during World War II." Cliometrica 1, no. 3 (March 31, 2007): 239–61. http://dx.doi.org/10.1007/s11698-007-0011-7.
Full text
29
Teh, David, and Brian Corbitt. "Building sustainability strategy in business." Journal of Business Strategy 36, no. 6 (November 16, 2015): 39–46. http://dx.doi.org/10.1108/jbs-08-2014-0099.
Full textAbstract:
Purpose – The purpose of this paper is to explore environmental sustainability (eco-sustainability) policy and strategy adoption and implementation in Australian companies. Specifically, it assesses what influences the extent of organizational eco-sustainability strategy implementation. Design/methodology/approach – This research used semi-structured interviews with senior executive from a list of the Australian Securities Exchange (ASX) 200 companies in banking, materials, real estate and transportation industry groups. A purposive sampling method was used to select the most appropriate participants. The “elite” interviewing method was adopted with persons who are recognized as the expert in the topic under investigation. Finally, an interpretative approach to data analysis was used. Findings – The paper shows the importance of eco-sustainability strategy alignment with the overall business strategy. Similarly, organizational structure and systems are recognized to be equally important. The senior executives also agreed that shared values, passionate skilled and experienced staff, the Board and senior management, as well as governance, are critical in ensuring a successful adoption and implementation of organizational eco-sustainability policy and strategy. Practical implications – This research provides some understanding of how organizations implement their eco-sustainability policy and strategy and what influences the extent of their eco-sustainability strategy implementation, and answers to why each dimension is important for a particular organization was gained through interviews with the senior executives. This paper also facilitates a better understanding of the relative importance placed on each dimension as a factor influencing eco-sustainability adoption and implementation. Originality/value – Drawing on theories from various disciplines and the McKinsey Seven S’s framework, this paper strengthens the foundation for industry practitioners to understand what influences the success of the eco-sustainability strategy adoption and implementation.
30
Lodhia, Sumit, and Nicole Angela Mitchell. "Corporate social responsibility disclosures and reputation risk management post the banking royal commission: a study of the big four banks." Qualitative Research in Accounting & Management 19, no. 2 (January 11, 2022): 162–85. http://dx.doi.org/10.1108/qram-07-2020-0120.
Full textAbstract:
Purpose This study aims to explore the use of corporate social responsibility (CSR) disclosures by the “Big Four” Australian banks post the banking royal commission (BRC) to manage their reputational risk. Design/methodology/approach This paper uses a case study approach through a thematic analysis of the Big Four banks’ annual and sustainability reports and uses reputation risk management (RRM) as a conceptual lens to explore the image restoration strategies used by these banks. Findings The study finds that a corrective action strategy was disclosed extensively by all four banks whereby each bank outlined the actions that they were undertaking to correct the deficiencies identified by the BRC. However, the impact of these proposed actions was tampered by the fact that each bank sought to use strategies to reduce the offensiveness of their misdemeanours. It is argued that while disclosure on corrective actions and compensation is useful, an emphasis on reducing offensiveness of actions impacts the effectiveness of banks’ responses and their acceptance of full responsibility for their actions. Research limitations/implications This paper applies the RRM perspective to a recent reputation damaging event, thereby expanding the literature on image restoration strategies used by companies during major incidents. Practical implications This study provides useful insights in relation to the approaches used to manage the reputational risk arising from the BRC. It provides insights into the credibility of information disclosed post an incident and has potential implications for the assurance of such information. Social implications Given the critical importance of the banking industry to modern society, misconduct in this sector needs a closer examination, requiring a greater need for responsibility from its key players. Originality/value This study extends the applicability of the RRM perspective to a social incident and highlights that it is reputation, rather than legitimacy, that is critical when organisations in an industry face extensive public scrutiny. A thematic analysis approach adds value to the methods used for analysing CSR disclosures.
31
Mariappanadar, Sugumar, and Alma Kairouz. "Influence of human resource capital information disclosure on investors’ share investment intentions." Personnel Review 46, no. 3 (April 3, 2017): 551–71. http://dx.doi.org/10.1108/pr-07-2014-0166.
Full textAbstract:
Purpose The purpose of this paper is to apply the strategic human resource management (HRM) perspective to investigate the schematic relationship between the dimensions of human resource (HR) capital information and intentions to use such information in individual investors’ decisions relating to investing equities in the banking industry. Design/methodology/approach A two-stage empirical study was conducted in 2010 using a four-part HR capital disclosure questionnaire, which was developed and validated in stage 1 (n=145) of the study. In stage 2 (n=157), current or previous shareholders in one of the Australian banking sector corporations participated in the study. The collected data were analyzed using confirmatory factor and logistic regression analyses. Findings The findings of this explorative study highlight that the individual investors’ perception on the importance of performance management dimension of HR capital information has varied impacts on their intentions to use such information in investment decisions to buy, hold on to, or sell stocks. Practical implications This study has made an important contribution to the strategic HRM and behavioral finance literature that the human capital information facilitates the propensity to avoid regrets in selling shares too early (dispositional effect bias) to achieve utility benefits in future which is different from the findings of financial information disclosure study. Originality/value A recent critical review of HR disclosure indicated that most of the published articles on HR capital have used company annual reports for data source. However, this is the first study that attempts to understand the impact of HR capital disclosure information on investment intentions from individual investors’ schema rather than drawing data from company annual reports.
32
Harper, I. R. "An Applicatioh Of Contestable Market Analysis To The Australian Banking Industry⁎*This Is a revised (OCtober 1985) version of a paper presented to the 12th Conference of Economists, Hobart, August 1983." Economic Analysis and Policy 16, no. 1 (March 1986): 50–60. http://dx.doi.org/10.1016/s0313-5926(86)50004-7.
Full text
33
Keneley, Monica, Graeme Wines, and Ameeta Jain. "The collapse of unlisted mortgage companies: a regulatory dilemma." Accounting Research Journal 30, no. 01 (May 2, 2017): 19–35. http://dx.doi.org/10.1108/arj-12-2014-0108.
Full textAbstract:
Purpose Policy issues associated with the regulation of the unlisted debenture market have been highlighted in recent times with the collapse of a number of regionally based mortgage companies. The purpose of this paper is to analyse the decline and demise of the unlisted debenture market between 2007-2013 with particular reference to the effectiveness of the regulatory regime in stabilising the industry and protecting investors’ interests. Design/methodology/approach A database was constructed which reflected the total population of unlisted mortgage companies in the financial sector. A snapshot approach was used to assess the extent to which these companies complied with regulatory provisions. Findings Findings suggest the regulatory process allowed these companies to continue operating despite not complying with the relevant Australian Securities and Investments Commission benchmarks. In the light of the current inquiry into the financial system, the research suggests that a re-evaluation of the regulatory approach is timely. Research limitations/implications This research is restricted to a study of one category of debenture issuers (issuers of mortgage finance). It is based on reports required by regulatory authorities. It does not provide an analysis of the motivations of investors in these companies. Practical/implications This research has implications for the implementation of regulatory change in respect to oversight of shadow banking activities. It suggested that a passive approach to regulation is not sufficient to ensure that the interests of investors are fully protected. Originality/value No prior research has systematically examined the unlisted mortgage and analysed the borrowing and lending activities of companies that have failed and those that have survived.
34
Booth, Sue, and Jillian Whelan. "Hungry for change: the food banking industry in Australia." British Food Journal 116, no. 9 (August 26, 2014): 1392–404. http://dx.doi.org/10.1108/bfj-01-2014-0037.
Full textAbstract:
Purpose – Over the last 20 years, food banks in Australia have expanded nationwide and are a well-organised “industry” operating as a third tier of the emergency food relief system. The purpose of this paper is to overview the expansion and operation of food banks as an additional self-perpetuating “tier” in the response to hunger. Design/methodology/approach – This paper draws on secondary data sourced from the internet; as well as information provided by Foodbank Australia and Food Bank South Australia (known as Food Bank SA) to outline the history, development and operation of food banks. Food banking is then critically analysed by examining the nature and framing of the social problems and policies that food banking seeks to address. This critique challenges the dominant intellectual paradigm that focuses on solving problems; rather it questions how problem representation may imply certain understandings. Findings – The issue of food banks is framed as one of food re-distribution and feeding hungry people; however, the paper argue that “the problem” underpinning the food bank industry is one of maintaining food system efficiency. Food banks continue as a neo-liberal mechanism to deflect query, debate and structural action on food poverty and hunger. Consequently their existence does little to ameliorate the problem of food poverty. Practical implications – New approaches and partnerships with stakeholders remain key challenges for food banks to work more effectively to address food poverty. Social implications – While the food bank industry remains the dominant solution to food poverty in Australia, debate will be deflected from the underlying structural causes of hunger. Originality/value – This paper contributes to the limited academic literature and minimal critique of the food bank industry in Australia. It proposes that the rapid expansion of food banks is a salient marker of government and policy failure to address food poverty.
35
Elgahwash, Fouad Omran, and Mark Bruce Freeman. "Self-Service Technology Banking Preferences." International Journal of Intelligent Information Technologies 9, no. 2 (April 2013): 7–20. http://dx.doi.org/10.4018/jiit.2013040102.
Full textAbstract:
Technology-enabled banking services are currently being implemented in developing countries. This research examines how citizens of developing countries adapt to these changes in their banking services. Technological expansion has been occurring in the Arabic region since the 1980s; however, the focus has been on trade and services offered by industries. The banking sector is an information intensive industry and should be at the forefront of advanced use of Information and Communication Technologies (ICTs). The banking sector has started to utilize technology-enabled services through the Internet and mobile devices, with the goal of improving customer relationships by empowering customers. One common trend is increasing the use of self-service technologies, which are facilitated by ICTs. This study discusses how Libyan banks should focus their technology strategies to relate to customers, reduce costs and improve services, achieved through the use of a survey completed by customers who have become accustomed to technology-enabled banking services in the developed world. The current availability of technology-enabled banking services in Libya is limited. This paper presents a comparative review of the use of technology-enabled banking services by Libyans when they are in Libya and whilst they are in Australia (a foreign developed country where Libyans are furthering their education).
36
Bhatti, M. Ishaq. "Human Capital Need in Islamic Finance Education: A Case of Australia." International Journal of Learning and Development 2, no. 6 (November 24, 2012): 146. http://dx.doi.org/10.5296/ijld.v2i6.2753.
Full textAbstract:
The main objective of this paper is to demonstrate training requirement for human capital needed in the emerging field of Islamic Finance (IF) industry in Australisian region. It proposes the structure of the curriculum which can build bridges among multi-culture/faith communities based on sound understanding of finance and Shariah in the western democratic societies where Muslims are in minorities. It presents a case study of La Trobe University’s pioneering Master of Islamic Banking and Finance (MIBF) degree structure and an online six week’s e-learning short course on Islamic Finance Professional Development (IFPD) jointly with Ethica Institute in UAE. The course is then linked with various components of the professional bodies, like Masters’ in professional accounting (MPA), financial analysis (MFA), and MBA (restricted to electives only), CFA, GARP and then extension to PhD level education in IF. The paper addresses various aspects of IF education such as the significance of knowledge, curriculum design, procedures in acquiring support from within the University academic community, challenges in marketing the course and the needed research backing. It also reviews some illustrating statistics to support the need for the course in Australasian region and highlight statistical finding of our MIBF alumni. The paper closes with final remarks and recommendations to industry and policy makers.
37
Kia, Narges, Beni Halvorsen, and Timothy Bartram. "Ethical leadership and employee in-role performance." Personnel Review 48, no. 7 (November 4, 2019): 1716–33. http://dx.doi.org/10.1108/pr-12-2018-0514.
Full textAbstract:
Purpose Against the backdrop of the Royal Commission into Misconduct in the Banking, Superannuation and Finance Services Industry in Australia, this study on ethical leadership is timely. The purpose of this paper is to examine the mediating effects of organisational identification, customer orientated behaviour, service climate and ethical climate on the relationship between ethical leadership and employee in-role performance. Design/methodology/approach The hypotheses were tested using a two-wave survey study of 233 bank employees in Australia. Findings Evidence from the study indicated that organisational identification, service climate and ethical climate mediate the relationship between ethical leadership and employee in-role performance. Surprisingly, the proposed mediation effect of customer orientation was not supported. However, ethical leadership was positively associated with customer orientated behaviour among employees. Research limitations/implications Limitations of the study include collecting data at two time points, thereby rendering the study cross-sectional. Employee in-role performance was a self-rated measure. Practical implications This study showed that ethical leadership is critical to improving employee perceptions and experience of an organisation’s service climate, ethical climate, organisational identification, customer orientated behaviour and employee in-role performance. The authors raise a number of HRM implications for the development and enablement of ethical leaders in the banking context. Originality/value The findings presented in this paper highlight that ethical leadership is critical to improving employee perceptions and experience of an organisation’s service climate, ethical climate, organisational identification, customer orientated behaviour and employee in-role performance.
38
Seltzer, Andrew J., and Kenneth L. Simons. "Salaries and Career Opportunities in the Banking Industry: Evidence from the Personnel Records of the Union Bank of Australia." Explorations in Economic History 38, no. 2 (April 2001): 195–224. http://dx.doi.org/10.1006/exeh.2000.0750.
Full text
39
Bazilevich, Mikhail E., and Anton A. Kim. "STYLISTIC FEATURES OF THE EUROPEAN ARCHITECTURE OF BANKING INSTITUTIONS IN GUANGZHOU LATE 19TH – EARLY 20TH CENTURY ON THE EXAMPLE OF SHAMYAN ISLAND." Vestnik Tomskogo gosudarstvennogo universiteta. Kul'turologiya i iskusstvovedenie, no. 41 (2021): 5–17. http://dx.doi.org/10.17223/22220836/41/1.
Full textAbstract:
The article is devoted to the architecture of European banking institutions in Guangzhou, built on the territory of Shamyan island in the late 19th – early 20th century. A brief historical excursion into the history of the formation of the British and French concessions is given. This publication examines the stylistic and compositional features of the architecture of such banking institutions as: Hong Kong and Shanghai Banking Corporation; The Chartered Bank of India, Australia and China; International banking corporation (City Bank); Bank of Taiwan; Commercial Corporation of Mitsubishi; Yokogama Specie Bank; The E.D.Sassoon & Co.Ltd. и D. Sassoon Sons Co. Ltd; Bank of Indochina; China & France Industry Bank. A composite and stylistic analysis was conducted, an iconographic description of the buildings of the main banks located within the boundaries of the former European concessions on Shamyan Island is given The study reveals the general principles of the development of the architecture of banking institutions in Guangzhou. The materials and results of the research carried out by the authors of this article allowed us to formulate the following conclusions: 1. The territorial isolation of the Shamyan island from the Chinese part of Guangzhou, as well as the operation within the concessions of British and French laws, contributed to the fact that the development of the architectural ensemble of the island as a whole was carried out in line with the advanced West European architectural and urban trends. 2. Most of the banking buildings here are built in the eclectic style with the predominance of neoclassicism features, of course, this fact is connected with the desire of the owners of bank corporations to demonstrate to the clients and competitors the financial strength of their organizations. 3. In the architecture of the considered banking institutions there is an active use of tectonics and elements of the order system, colonnades, arcades, the allocation of the first floor in the form of a rustic plinth. The motifs of Renaissance architecture, Baroque and Art Nouveau are also traced. 4. The formation of the appearance of banking buildings in Shamyan was strongly influenced by local conditions. The hot and humid subtropical climate of the south of China contributed to the spread in the architecture of the structures of this type of order colonnades, forming deep open verandas, as well as the use of X-shaped creaks-elements to ensure the natural ventilation of buildings, which, in addition, became an expressive element of the facade decoration
40
van der Nest, D. P., Louis Smidt, and Dave Lubbe. "The use of generalised audit software by internal audit functions in a developing country: A maturity level assessment." Risk Governance and Control: Financial Markets and Institutions 7, no. 4-2 (December 28, 2017): 189–202. http://dx.doi.org/10.22495/rgc7i4c2art2.
Full textAbstract:
This article explores the existing practices of internal audit functions in the locally controlled South African banking industry regarding the use of Generalised Audit Software (GAS), against a benchmark developed from recognised data analytic maturity models, in order to assess the current maturity levels of the locally controlled South African banks in the use of this software for tests of controls. The literature review indicates that the use of GAS by internal audit functions is still at a relatively low level of maturity, despite the accelerating adoption of information technology and generation of big data within organisations. The empirical results of this article also confirm that the maturity of the use of GAS by the internal auditors employed by locally controlled South African banks is still lower than expected, given that the world, especially from a business perspective is now fully immersed in a technological-driven business environment. This study has since been extended to other industries in the following countries namely, Canada, Columbia, Portugal and Australia.
41
XI, YOUMIN, YOULONG ZHUANG, W. HUANG, CONGGUO SHE, and ZHIPENG ZHANG. "THE QUALITY ASSESSMENT AND CONTENT ANALYSIS OF CORPORATE WEBSITES IN CHINA: AN EMPIRICAL STUDY." International Journal of Information Technology & Decision Making 06, no. 02 (June 2007): 389–405. http://dx.doi.org/10.1142/s0219622007002472.
Full textAbstract:
This study evaluates 74 Chinese corporate websites by examining their contents and functions to understand the business objectives. It found that business objectives of these websites mainly focused on publicity, and very little on online sales. Firms in banking and construction industries develop the highest quality websites, while firms in public services and retailing are the laggards. Chinese websites are ease to use with consistent information. The article also compared the findings in China in this study with those in the United States, Australia, and Singapore in similar studies. It found that industry characteristics were similar among nations while more complicated website functions were more popular among the firms of developed countries. The findings will contribute to the research of e-business by confirming the existence of innovators and laggards of Web technology adoption in model given in E. M. Roger, Diffusion of Innovations (The Free Press, New York, 1962), and help managers understand current status of Chinese websites.
42
Moore, R. K., and R. M. Willcocks. "SOME COMMERCIAL ASPECTS OF PETROLEUM EXPLORATION AND MINING." APPEA Journal 25, no. 1 (1985): 143. http://dx.doi.org/10.1071/aj84014.
Full textAbstract:
The petroleum industry in Australia is at the centre of a web of complex laws. In addition to the legislation under which petroleum exploration and production tenements are granted there is a multiplicity of statutes and regulations, Commonwealth and State, which have a direct bearing on the conduct of those involved in exploring for or exploiting Australia's petroleum reserves. For example, the level of participation by foreigners is governed by the Commonwealth Foreign Investment Guidelines and the Foreign Takeovers Act 1975; the Commonwealth has control over the export of petroleum under the Customs (Prohibited Exports) Regulations and domestic markets are subject to the operation of the Crude Oil Allocation Scheme. The Commonwealth continues to have the right to regulate the transfer of funds to and from Australia under the Banking (Foreign Exchange) Regulations. Certain States such as South Australia and New South Wales have their own foreign investment guidelines.Not only this, there are revenue laws which govern very much the way in which petroleum projects are organised, interests transferred and otherwise dealt with and finance made available, such as State stamp duty legislation, Commonwealth income tax laws, and Commonwealth legislation imposing registration fees on dealings in exploration permits and production licences. A new tax, Resource Rent Tax, is to be introduced.Then there are laws which have an indirect bearing on petroleum activities such as the Companies Code which, in addition to governing the administration and organisation of companies, controls the way funds can be raised.The statutory and regulatory framework is only part of the picture. The rights and obligations of participants in petroleum projects as between themselves are almost always set out in a joint venture or joint operating agreement, the combination between the participants being known as an unincorporated joint venture. This form of business organisation is not a partnership; it is not the creature of legislation. Indeed it has been rarely referred to in Acts of Parliament. Problems arising under the joint venture agreement will be considered against the backdrop of the general law which unfortunately has seldom been called upon to resolve disputes between participants in joint ventures. An illustration of one of these rare instances is Brian Pty Ltd v United Dominions Corporation Ltd (1983), where the New South Wales Court of Appeal considered the fiduciary relationship of joint venturers.Despite this legislative and regulatory' backdrop and the uncertainties as to the true effect of joint venture agreements, the industry up until quite recently has survived with little litigation. This is no longer the case. Recent and pending litigation shows that there is no reluctance on the part of participants to take their disputes to court, often at great expense and with unfortunate results for previously close relationships. It must now be said that money spent to achieve proper and clear agreement on organisational and legal matters at the earliest stage of a project is money just as well spent as that on drilling and other operational activities.
43
Wibowo, Alexander Joseph Ibnu. "PERILAKU MENCARI PEMBIAYAAN USAHA KECIL DAN MENENGAH: SEBUAH ANALISIS ISI TERHADAP ARTIKEL XIANG & WORTHINGTON (2015) DAN SAEED & SAMEER (2015)." AdBispreneur 4, no. 1 (June 10, 2019): 45. http://dx.doi.org/10.24198/adbispreneur.v4i1.18659.
Full textAbstract:
Currently, there are relatively few studies that have examined the comparison between the finance-seeking behavior for small and medium-sized enterprises in developed and developing countries. In general, this study aims to analyze differences in finance-seeking behavior between enterprises from Australia and Pakistan, including identifying various antecedents of finance-seeking behavior by enterprises in both countries. For this reason, we conducted an exploratory study through a content analysis of two scientific journal articles. Specifically, we systematically examine two scientific journal articles that discuss access to finance by small and medium-sized enterprises, both in terms of substance and methods. The first article was written by Xiang and Worthington and the second article was written by Saeed and Sameer. We found that the study of Xiang and Worthington succeeded in identifying various antecedents of finance-seeking behavior at the micro (internal) level, such as business objectives, profitability, growth, product and service quality, business ownership, business size, business life, and government assistance. On the other hand, the study of Saeed and Sameer revealed that there were other antecedents at the meso level (external or industrial) that could influence the search for enterprise financing, namely the concentration of the banking industry. In conclusion, the study of Saeed and Sameer further complements the study of Xiang and Worthington in identifying various antecedents of finance-seeking behavior. Saat ini ada beberapa studi yang meneliti perbandingan antara perilaku pencarian keuangan untuk usaha kecil dan menengah di negara maju dan berkembang. Secara umum, penelitian ini bertujuan untuk menganalisis perbedaan perilaku pencarian keuangan antara perusahaan dari Australia dan Pakistan, termasuk mengidentifikasi berbagai anteseden perilaku pencarian keuangan oleh perusahaan di kedua negara. Untuk alasan ini, kami melakukan studi eksplorasi melalui analisis konten dari dua artikel jurnal ilmiah. Secara khusus, kami secara sistematis memeriksa dua artikel jurnal ilmiah yang membahas akses ke keuangan oleh perusahaan kecil dan menengah, baik dari aspek substansi maupun metode. Artikel pertama ditulis oleh Xiang dan Worthington (2015) dan artikel kedua ditulis oleh Saeed dan Sameer (2015). Kami menemukan bahwa penelitian Xiang dan Worthington berhasil mengidentifikasi berbagai anteseden perilaku pencarian keuangan di tingkat mikro (internal), seperti tujuan bisnis, profitabilitas, pertumbuhan, kualitas produk dan layanan, kepemilikan bisnis, ukuran bisnis, kehidupan bisnis, dan bantuan pemerintah. Di sisi lain, studi Saeed dan Sameer mengungkapkan bahwa ada anteseden (penentu) lain di tingkat meso (eksternal atau industri) yang dapat mempengaruhi pencarian pembiayaan perusahaan, yaitu konsentrasi industri perbankan. Sebagai kesimpulan, studi Saeed dan Sameer lebih lanjut melengkapi studi tentang Xiang dan Worthington dalam mengidentifikasi berbagai anteseden perilaku pencarian keuangan.
44
Aluko, Bioye Tajudeen. "ACCURACY OF AUCTION SALE VALUATIONS IN DISTRESSED BANK LENDING DECISIONS IN NIGERIA." Journal of Business Economics and Management 8, no. 3 (September 30, 2007): 225–33. http://dx.doi.org/10.3846/16111699.2007.9636172.
Full textAbstract:
Of all the sub‐sectors of the national economy, the banking industry and the property market have arguably been most severely affected by the current recession. Thus, the prevailing credit crunch in real estate finance and market conditions have implication for disposal and valuations of real estate for mortgage purposes. The study examined whether forced sale valuations of mortgage properties were a good proxy for their auction sale prices. Relevant data involving 67 auction sales of foreclosed residential property transactions together with their contemporaneous forced sale valuations were pooled together in Lagos Metropolis during the period 1994 to 2003 from sample of estate surveying and valuation/auctioneering firms, the lending institutions and the Nigeria Deport Insurance Corporation. The data obtained were analyzed with the aid of frequency distributions and multiple regression models. The study revealed, amongst others, that forced sale values are not good proxies for auction sale prices as against the conclusions of previous studies on accuracy of open market valuations either in Nigeria or other countries like UK, USA and Australia. The implications of the foregoing conclusions on the lending decisions and valuation profession in the country were further examined in the paper.
45
Grinlinton, David. "The use of biodiversity offsets in mining and energy development." Environmental Law Review 19, no. 4 (December 2017): 244–65. http://dx.doi.org/10.1177/1461452917741479.
Full textAbstract:
This article first reviews the nature of biodiversity offsets and their use in selected jurisdictions, including the UK, US, Canada and Australia. The unique approach to biodiversity offsets in New Zealand under the Resource Management Act 1991 (RMA) is then examined in detail, including judicial consideration and analysis of the concept in several recent decisions. The RMA is the primary legislation governing the protection of the environment and the use of land, air and water resources in New Zealand, guided by the principle of 'sustainable management'. The Crown Minerals Act 1991 (CMA) governs the allocation of mining rights and access to minerals over private and Crown land. Opportunities for offsets through the mineral permitting and resource consenting regime is discussed, and mining and energy development case studies are used to illustrate the use of biodiversity offsets in practice. The article also examines the value of national policy guidance in the design of biodiversity offsets, the use of conservation covenants to ensure durability of offset arrangements, and the idea of 'conservation banking' to facilitate and encourage industry 'buy-in'. Conclusions and recommendations are made, which hopefully may inform and advance the debate on the use of biodiversity offsets in other jurisdictions.
46
Ryan, Lindsay, Christopher Prince, and Paul Turner. "The Changing and Developing Role of the Corporate University Post-Millennium." Industry and Higher Education 29, no. 3 (June 2015): 167–74. http://dx.doi.org/10.5367/ihe.2015.0256.
Full textAbstract:
A review of the literature on corporate universities finds that the peak for research and publishing on the topic occurred between 1998 and 2002 and fell away considerably after 2005. Given the apparent lack of research during the past decade, the purpose of this paper is to present an insight into what has been happening to corporate universities, what changes have occurred and what the emerging trends are in corporate university development. The paper includes two short cases, one from the UK and one from Australia, reflecting developments and trends in corporate universities in the banking industry. The authors examine the move away from corporate universities as highly resourced, geographically based training centres to virtual entities facilitated by the development of digital technologies. At the same time, there appears to be greater emphasis on the alignment of corporate training and people development with the strategic objectives of the organization, so that employees at all levels can provide leadership to the people and functional areas for which they are responsible. The authors conclude by arguing that in an increasingly global and unpredictable digital disruptive age the corporate university must evolve from being a primarily social and knowledge transfer mechanism to facilitating company renewal and transformation; in effect, becoming the organization's learning laboratory.
47
Ruzmetov, Baxtiyar, Uktamjon Yeshimbetov, and Kamoliddin Jabbarov. "FORMATION OF PRODUCTION GROWTH POINTS ON THE BASIS OF MINERAL - RAW MATERIAL RESOURCES AS A FACTOR OF IMPROVEMENT OF THE TERRITORIAL STRUCTURE OF THE INDUSTRY OF THE REPUBLIC OF KARAKALPAKSTAN." 62, no. 62 (December 31, 2021): 31–40. http://dx.doi.org/10.26565/2524-2547-2021-62-03.
Full textAbstract:
The use of mineral resources plays an important role in the global economy. “As noted in the British newspaper“ Financial Times ”, this sector ranks 1st in the world in terms of capitalization of the largest companies, including mining itself (excluding oil and gas) - 5th place among global industries after the banking sector, oil and gas industry, pharmaceutical and computer industries"(Kondratyev, 2014). In the developed and rapidly developing countries of the world, industrial growth is achieved through the effective use of the local potential of natural resources, improvement of the structural composition of the industry. According to the World Bank, in 2018 the share of mineral resources in GDP was 0,9 percent in Canada, 3,5 percent in Australia and 2,5 percent in Brazil, while in Uzbekistan the figure was 12,3 percent (Saydaxmedov, 2020). Many large scientific centers around the world are working on changing the methodology for the economic assessment of mineral resources, taking into account the regional economy, new economic geography, changes in the subjects of the institutional economy and the growth of knowledge that has occurred in recent years. Much attention is paid to the use of socio-economic indicators along with technical and economic indicators in assessing the mineral resource base. Consequently, due to the development of mineral resources, opportunities arise for creating new jobs, increasing the income of the population, introducing innovative ideas and technologies in practice, and creating a competitive environment in the economy. Therefore, the study of problems in this area in connection with the social sphere and institutions acquires the necessary scientific significance. The article discusses the formation of points of production growth. The main directions of the formation of points of production growth based on mineral-raw material resources are being studied. The distribution of mineral-raw material resources by zones of Karakalpakstan is investigated. In addition, the article talks about the specific features of the formation of reference points of growth. The stages of the formation of growth support points based on the local mineral-raw material resources of Karakalpakstan in 2020-2030 are also considered.
48
Tayauova, Prof Dr Gulzhanat. "Message from Editor." Global Journal of Business, Economics and Management: Current Issues 8, no. 1 (April 17, 2018): I. http://dx.doi.org/10.18844/gjbem.v8i1.3292.
Full textAbstract:
Message from Editor
Dear Readers,
It is the great honor for us to publish seventh volume, second issue of Global Journal of Business, Economics and Management: Current Issues.
Global Journal of Business, Economics and Management: Current Issues is an international, multi-disciplinary, peer-refereed journal which aims to provide a global platform for professionals working in the field of business, economics, management, accounting, marketing, banking and finance and scholars and researchers to share their theoretical, empirical and practical knowledge on current issues in the area of business, economics and management.
The scope of Global Journal of Business, Economics and Management: Current Issues includes; but is not limited to current issues on; Accounting, Advertising Management, Business and Economics, Business Ethics, Business Intelligence, Business Information Systems, Business Law, International Finance, Labor Economics, Labor Relations & Human Resource Management, Law and Economics, Management Information Systems, Business Law, Business Performance Management, Business Statistics, Communications Management, Comparative Economic Systems, Consumer Behavior, Corporate Finance and Governance, Corporate Governance, Cost Management, Management Science, Market Structure and Pricing, Marketing Research and Strategy, Marketing Theory and Applications, Operations Research, Organizational Behavior & Theory, Organizational Communication, Prices, Business Fluctuations, and Cycles, Product Management, Decision Sciences, Development Planning and Policy, Economic Development, Economic Methodology, Economic Policy and so on.
Aim of this issue is to give the researchers an opportunity to share the results of their academic studies. There are different research topics discussed in the articles. Topics including a case study on reading news and ICT as a motivational tools in teaching, Responsible sourcing practices in hazelnut industry, applicable quality management tools in a production cycle of a selected company, brand positioning of domestic services in Australia and significant leadership competencies at large industrial companies: Results of exploratory quantitative research are included in the current issue.
The topics of the next issue will be different. You can make sure that we will be trying to serve you with our journal to provide a rich knowledge of the field. Different kinds of topics will be discussed in 2018 Volume. A total number of thirteen (13) manuscripts were submitted for this issue and each paper has been subjected to double-blind peer review process by the reviewers specialized in the related field. At the end of the review process, a total number of five (5) high quality research papers were selected and accepted for publication.
We present many thanks to all the contributors who helped us to publish this issue.
Best regards,
Prof. Dr. Gulzhanat Tayauova
Editor – in Chief
49
Bidois, Marisa. "The cost of convenience." Hospitality Insights 3, no. 1 (June 21, 2019): 1–2. http://dx.doi.org/10.24135/hi.v3i1.10.
Full textAbstract:
Hospitality businesses in New Zealand are seeing fewer and fewer payments made by cash, as customers opt for the convenience of paying their bill electronically. If customers love the convenience of paying by credit card, who should be responsible for the cost of this convenience – the business or the customer?
In a Restaurant Association survey conducted at the end of last year, members overwhelmingly (71%) indicated that the use of cash by customers is declining, with a Mastercard New Zealand survey last year backing this up. This widespread adoption of electronic payment by consumers sees merchants bearing the significant cost of the transaction through their merchant fees. New Zealand merchants pay substantially more to process credit and contactless debit card transactions than their counterparts in Australia and the UK (on average, New Zealand merchants pay merchant service fees of around 1.4%, while in Australia it is around 0.85%, according to estimates by COVEC and data from the Reserve Bank of Australia). Restaurant Association members typically pay even higher – between 1.8% and 2% in fees for each credit card transaction; members say they are charged the same rate for any card type. Forty-two percent have a ‘fixed bundled rate’, although another 26% say they are charged a split rate for credit card and debit cards. Only 5% have an ‘unbundled’ merchant fee, where different types of cards are charged different fees and merchants pay this cost plus an acquiring service fee from the bank.
There are undoubtedly advantages for businesses in accepting electronic payments, primarily in the speed of the transaction – particularly with several customers waiting to pay – and the speed in which the payment is deposited into your bank account. However, it comes at a large cost, which is challenging for an industry that runs on very small margins already. One member pointed out in the Association’s recent survey:
As the average return in New Zealand is 6% net profit, the banks are effectively charging 1/3 of the profit of the average business, which is diabolical. With technology advancements their costs have gone down but charges have gone up, clearly shown in their bottom line profits. It is a collective monopoly like a lot of big business in New Zealand. (Restaurant Association member)
Of our members, 66% say they would switch if they could receive a saving equating to an overall 2.5–5% reduction in the cost of accepting credit cards. Currently though, short of refusing to accept credit card payments, it is difficult to avoid merchant fees. Emerging payment options and growing trends via NFC (Near Field Communication) capable mobile phones (such as ApplePay, GooglePay and Digital Wallets) are now more widely available. Whilst offering convenience and arguably faster transaction speed, these payment methods offer no relief to the fee incurred by a business for acceptance.
Alternative payment solutions now exist in New Zealand, but there are few choices. To date, most are aimed at the Chinese market, with payment methods restricted to tourist and student visitors, and immigrants retaining banking capability in their country of origin. The Restaurant Association’s survey indicated that only 24% of members currently accept other payment channels like China Union Pay, Alipay or WeChat. In reality these alternative payment solutions currently only form a small portion of the total volume of transactions a business processes, so will not affect any meaningful reduction in the total costs of cards/payment processing.
Surcharging, however, is a way for operators to offset the merchant fee imposed upon them by the banks. Surcharging simply means a charge to cover a merchant’s cost for processing a credit card. They are now being used by increasing numbers of tourism and hospitality businesses. Feedback from member businesses is that there is little reaction or negative feedback from customers. A Restaurant Association member commented on the survey:
We added a surcharge to cover the transaction fee on credit cards and have had no complaints. It’s just a matter of cents and gives us an opportunity to explain that we have always worn the cost of the surcharges but this is increasingly difficult.
Feedback from some members is that they find the practice unfriendly and others would prefer to incorporate this fee into their menu pricing structure, as this member pointed out: “I don’t care about the cost. It is added into the budgets and is picked up at menu price changes time, so it is paid for by the customer anyway.” Individual businesses need to decide if a surcharge would create tension in the business/customer relationship however, it is reassuring to know that, if a business does decide to add a surcharge, it is becoming a far more mainstream option than it used to be.
From a legal standpoint, merchants are required under the Fair Trading Act to ensure representations around their card payment fees are accurate and not misleading. This means if you are being charged a 1.8% merchant fee by your bank, it is not reasonable to apply a 3% credit card convenience fee to your customer. We’ve noticed some merchants prefer to pass on only a portion of the cost with a surcharge – say 1% – as a cost recovery practice. For a $100 bill, that is just a $1 addition to the bill for the consumer.
The payments landscape is changing rapidly, and in the future new technology will dramatically change the way we pay and receive payments. In the meantime, the Restaurant Association are developing further information for members around surcharging, with implementation and training for staff. We’ll also continue advocating on behalf of members to ensure the payment system delivers good outcomes for both consumers and our member merchants.
Corresponding author
Marisa Bidois can be contacted at: marisa@restaurantnz.co.nz
50
Burns, Clare J. M., Luke Houghton, Deborah Delaney, and Cindy Shannon. "Ethical Decision-Making in Indigenous Financial Services: QSuper Case Study." Journal of Business Ethics, September 21, 2022. http://dx.doi.org/10.1007/s10551-022-05253-4.
Full textAbstract:
AbstractThis case study details how and why integrating storytelling, empathy, and inclusive practice shifted QSuper, a large Australian finance organisation, from minimal awareness to moral awareness then moral capability in the delivery of services to Indigenous customers. During the Royal Commission into Misconduct in the Banking, Superannuation, and Financial Services Industry, QSuper were recognised for their exemplary service with Indigenous customers (Hayne, Interim report: Royal commission into misconduct in the banking, superannuation and financial services industry, Volume 1. Commonwealth of Australia, 2018; Transcript of Proceedings, 13 August, Commonwealth of Australia, 2018). This position was in stark contrast to the inaccessible service offerings of other financial organisations where some used predatory practices to sell unethical financial products to Indigenous Australians (Hayne, Interim report: Royal commission into misconduct in the banking, superannuation and financial services industry, Volume 1. Commonwealth of Australia, 2018; Hayne, Final report: Royal commission into misconduct in the banking, superannuation and financial services industry, Volume 1. Commonwealth of Australia, 2019a). Storytelling garned from visiting customers in remote communities and other meaningful activities involving inclusive practice to facilitate ethical decision-making in finance is different to standard functionalist finance approaches (Schinckus, Int Rev Financ Anal 40:103–106, 2015). Two empathetic questions asked within QSuper complementing the storytelling, were: “What is the right thing to do by the customer?” and “How would I feel if this were my mother?” Exploration into the lived reality of moral capacity is important based on the Commission finding many of the 490,000 finance staff do not know how to provide ethical services to vulnerable customers, in particular remote Indigenous customers (Australian Bureau of Statistics. Labour force, Australia, detailed. ABS. Retrieved from https://www.abs.gov.au/statistics/labour/employment-and-unemployment/labour-force-australia-detailed/latest-release, 2021; Hayne, Final report: Royal commission into misconduct in the banking, superannuation and financial services industry, Volume 1. Commonwealth of Australia, 2019a). Furthermore, there is minimal literature on the role of Indigenous storytelling to heighten moral awareness in the finance industry which was found to lead to better ethical outcomes.