Journal articles on the topic 'Financial risk – Australia'
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Kesavayuth, Dusanee, Kaung Myat Ko, and Vasileios Zikos. "Financial risk attitudes and aging in Australia." Australian Economic Papers 59, no. 1 (January 13, 2020): 43–54. http://dx.doi.org/10.1111/1467-8454.12169.
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Guesmi, Khaled, Frederic Teulon, and Amine Lahiani. "Australias Integration Into The ASEAN-5 Region." Journal of Applied Business Research (JABR) 29, no. 6 (October 29, 2013): 1607. http://dx.doi.org/10.19030/jabr.v29i6.8198.
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This paper attempts to evaluate the time-varying integration of Australian stock market in ASEAN-5 region (ASEAN + Australia, Korea, China, India and Japan) by using a conditional version of the international capital asset pricing model (ICAPM) allowing for dynamic changes in the degree of market integration, regional market risk price, currency risk price and domestic market risk price. Main findings are as follows: i) the prices of risk in Australia are extremely sensitive to major international economic and political events such as the different monetary and financial crises in international financial market; ii) the level of market openness and development of the stock market satisfactorily explain the time-varying degree of Australian stock integration.
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Hill, Jennifer G. "Regulatory Cooperation in Securities Market Regulation: Perspectives from Australia." European Company and Financial Law Review 17, no. 1 (March 5, 2020): 11–34. http://dx.doi.org/10.1515/ecfr-2020-0003.
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The global financial crisis highlighted the interconnectedness of international financial markets and the risk of contagion it posed. The crisis also emphasized the importance of supranational regulation and regulatory cooperation to address that risk. Yet, although capital flows are global, securities regulation is not. As a 2019 report by IOSCO notes, the regulatory challenges revealed during the global financial crisis have by no means dissipated over the last decade. Lack of international standards, or differences in the way jurisdictions implement such standards, can often result in regulatory-driven market fragmentation. This article considers a range of cooperative techniques designed to achieve international regulatory harmonization and effective financial market supervision. It includes discussion of a high profile cross-border supervisory experiment, the 2008 US-Australian Mutual Recognition Agreement, which was the first agreement of its kind for the SEC. The article also examines some key regulatory developments in Australia and Asia since the time of the US-Australian Mutual Recognition Agreement.
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Nguyen, Justin Hung. "Carbon risk and firm performance: Evidence from a quasi-natural experiment." Australian Journal of Management 43, no. 1 (July 21, 2017): 65–90. http://dx.doi.org/10.1177/0312896217709328.
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This article examines the effect of carbon risk on firm performance, exploiting the Australia ratification of Kyoto Protocol in December 2007 as an exogenous shock. The article finds that polluters, firms in highest-emitting industries, experience a reduction in financial performance relative to controlling non-polluters subsequent to the ratification, and the effect is more pronounced among financially constrained firms. The results are robust to various definitions of polluters, measures of financial constraints, falsification tests on the timing of the Kyoto adoption and the impact of the Global Financial Crisis. The evidence suggests a negative association between carbon risk and firm performance.
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Thai, Kevin Huu Phat, and Jacqueline Birt. "Do Risk Disclosures Relating to the Use of Financial Instruments Matter? Evidence from the Australian Metals and Mining Sector." International Journal of Accounting 54, no. 04 (December 2019): 1950017. http://dx.doi.org/10.1142/s1094406019500173.
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This paper investigates the value relevance of risk disclosures relating to the use of financial instruments in the Australian metals and mining sector. The metals and mining sector is the largest sector in Australia by the number of companies and includes several of the world’s largest diversified resource producers. Using a manually constructed disclosure index based on AASB 7 Financial Instruments: Disclosures, we find that financial instrument-related risk disclosures provide useful information to equity investors. In terms of individual risk category, liquidity risk is shown to be the most informative risk disclosure. We contribute to a stream of the literature examining the informativeness of risk disclosures. The results of this study have implications for several stakeholders regarding the quality assessment of risk reporting. In addition, the findings are of interest to standard setters since further regulatory changes are under consideration to improve the presentation and disclosure of financial instruments.
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Thomson, Dianne, and Ameeta Jain. "Corporate Governance Failure And Its Impact On National Australia Banks Performance." Journal of Business Case Studies (JBCS) 2, no. 1 (January 1, 2006): 41–56. http://dx.doi.org/10.19030/jbcs.v2i1.4879.
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The National Australia Bank (NAB) is the largest financial services institution listed on the Australian stock exchange and is within the 30 most profitable financial services organisation in the world. In January 2004, the bank disclosed to the public that it had identified losses relating to unauthorised trading in foreign currency options amounting to AUD360 million. This foreign exchange debacle was classified as operational risk, the risk of loss resulting from inadequate or failed processes, people, or systems and reiterated the importance of corporate governance for banks. Concurrent issues of National Australia Banks AUD4.1 billion loss on US HomeSide loans in 2001, the degree of strength of their risk management practices and lack of auditor independence, were raised by the US Securities and Exchange Commission in 2004, reinforcing the view that corporate governance had not been given the priority it deserved over a number of years. This paper will assess and critically analyse the impact of corporate governance failure by management and Board of Directors on NABs performance over the years 2001-2005.
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Castellas, Erin I.-Ping, Jarrod Ormiston, and Suzanne Findlay. "Financing social entrepreneurship." Social Enterprise Journal 14, no. 2 (May 8, 2018): 130–55. http://dx.doi.org/10.1108/sej-02-2017-0006.
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Purpose This paper aims to explore the emergence and nature of impact investment in Australia and how it is shaping the development of the social enterprise sector. Design/methodology/approach Impact investment is an emerging approach to financing social enterprises that aims to achieve blended value by delivering both impact and financial returns. In seeking to deliver blended value, impact investment combines potentially conflicted logics from investment, philanthropy and government spending. This paper utilizes institutional theory as a lens to understand the nature of these competing logics in impact investment. The paper adopts a sequential exploratory mixed methods approach to study the emergence of impact investment in Australia. The mixed methods include 18 qualitative interviews with impact investors in the Australian market and a subsequent online questionnaire on characteristics of impact investment products, activity and performance. Findings The findings provide empirical evidence of the rapid growth in impact investment in Australia. The analysis reveals the nature of institutional complexity in impact investment and highlights the risk that the impact logic may become overshadowed by the investment logic if the difference in rigor around financial performance measurement and impact performance measurement is maintained. The paper discusses the implications of these findings for the development of the Australian social enterprise sector. Originality/value This paper provides empirical evidence on the emergence of impact investment in Australia and contributes to a growing global body of evidence about the nature, size and characteristics of impact investment.
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Bergami, Roberto. "International Delivery Risks: The Case of Delivered Duty Paid in Australia." Acta Universitatis Bohemiae Meridionalis 19, no. 1 (June 1, 2016): 1–9. http://dx.doi.org/10.1515/acta-2016-0005.
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Abstract The choice of delivery terms in international contracts has significant impact on both physical and financial risks for importers and exporters. This paper considers implications resulting from a recent Australian tribunal case involving transactions based on Delivered Duty Paid (DDP) terms (Incoterms). This case highlights how importers may become exposed to unexpected financial penalties caused by incorrect processes from foreign suppliers that result in duty and taxation payment shortfalls. The discussion focuses on the risk elements related to DDP for importers and the interpretation of legislation and policy documents. A chronological timeline of events is provided to explain the changes in policies and interpretation related to ownership as defined by Australian customs legislation. The conclusion is that, due to customs considerations and the decision of the tribunal in this case, DDP may no longer be a viable option for international trade transactions, not only in Australia, but also in other nations.
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Black, Warren, Geoffrey Cann, and Darren Gerber. "Nine principles for establishing a risk-intelligent major capital project." APPEA Journal 53, no. 2 (2013): 495. http://dx.doi.org/10.1071/aj12106.
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The reality of major capital projects With almost $1 trillion of investor capital being committed to major capital projects across Australia, the competition to secure adequate skills, machinery, materials, operating licenses, contractor support, and associated infrastructure has increased significantly, putting pressure on supply and yielding unique delivery risks. Furthermore, the sheer magnitude and complexity of these projects, combined with market conditions and the high value of the Australian dollar, has increased risk profiles to the point where such projects may threaten the financial security of owners and investors. The reality is that major capital projects can significantly enhance or erode shareholder value, depending on how well they are executed. Considering their high-impact nature, levels of governance, risk management, and assurance need to be strengthened. Risk intelligence in major capital projects As part of Deloitte's ongoing relationship with some of the most prominent major capital project entities in Australia, the authors have assessed a number of mega projects to determine what commonalities exist in light of risk management better practice. The authors have consolidated their observations into their latest contribution to Australian industry: Nine Principles to Establishing a Risk Intelligent, Major Capital Project. This extended abstract outlines what the authors believe the top Australian major capital projects are doing to control risk, while pursuing their delivery objectives. How are project officers securing clear accountability in complex stakeholder environments? How are they keeping owners and investors assured? How are they de-mystifying emerging risk scenarios?
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Inamura, Tomohiko, Francis Lobo, Rie Hirose, and Hajime Sano. "Natural catastrophe risk modelling for northwest Australia offshore installations." APPEA Journal 57, no. 2 (2017): 473. http://dx.doi.org/10.1071/aj16100.
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Offshore installations are exposed to several natural hazards. The greatest is severe weather caused by hurricanes and cyclones. Such storms can be devastating, causing widespread damage and financial loss. Insurance companies offer a range of products that insure against potential losses, including physical damage, control of well, sue and labour, removal of wreck, business interruption and liability. This paper describes the development of the first stochastic natural catastrophe model for the northwest Australian coastal region. It is based on Monte Carlo simulations and uses scientific and engineering knowledge alongside actual insurance claims data to evaluate aggregate storm exposures for the offshore industry in this region. The model enables quantitative assessment of cyclone risk by developing an improved database through the compilation of available meteorological data. Its development is designed to allow the sustainable and reasonably priced supply of insurance, which is essential to the further extension of exploration and production activities and investment in Australia.
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Ramiah, Vikash, Yilang Zhao, and Imad Moosa. "Working capital management during the global financial crisis: the Australian experience." Qualitative Research in Financial Markets 6, no. 3 (November 10, 2014): 332–51. http://dx.doi.org/10.1108/qrfm-09-2012-0026.
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Purpose – This paper aims to document the measures taken by Australian corporate treasurers in the areas of cash, inventory, accounts receivable, accounts payable and risk management to survive the global financial crisis (GFC). Design/methodology/approach – Using qualitative techniques like interviews and a survey questionnaire, this paper summarises the various measures adopted by working capital managers. Findings – The results show that more than half of the participants in the survey altered their working capital management practices during the crisis. Capital expenditure was curtailed, as they aimed at preserving their cash levels while reducing inventory levels. Credit worthiness of institutions became more important, and there was a general decline in credit availability. The results also show that Australian working capital managers exhibit behavioural biases, particularly overconfidence. Originality/value – It is the first paper that uses open-ended questions to capture the effects of the GFC on working capital management in Australia.
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Scherbina, Tatiana, Olya Afanasieva, and Yulia Lapina. "Risk management, corporate governance and investment banking: The role of chief risk officer." Corporate Ownership and Control 10, no. 3 (2013): 313–30. http://dx.doi.org/10.22495/cocv10i3c2art5.
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This paper focuses on the defining the role of CRO in corporate governance and to show the interrelation between the way of CRO subordination and performance of investment bank. The sample consists of observations over a period of 2011 for 29 biggest investment banks (by amount of assets) implementing world-wide investment activity. The banks are originated in the USA (8), Eastern Europe (14), China (2), Japan (2), Canada (2), and Australia (1). With the aim to evaluate and compare financial performance of selected banks the construction of synthetic key performance indicator (SKPI) is worked out. The empirical analysis of risk management in the research is based on two different groups of factors, which could be used to evaluate the effectiveness of risk management in this sphere: analysis of CRO impact - Risk Management Committee factors and CRO factors, and Evaluation of Financial Performance. Results show that the CRO presence in investment banks effect positively on the financial performance.
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Jain, Ameeta, and Dianne Thomson. "Corporate governance, board responsibilities, and financial performance: The National Bank of Australia." Corporate Ownership and Control 6, no. 2 (2008): 99–113. http://dx.doi.org/10.22495/cocv6i2p9.
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This paper examines board responsibilities and accountability by management and Board of Directors in relation to the National Australia Bank’s (NABs) performance. The NAB, an international financial service provider within the top thirty most profitable banks in the world, is compared with the Australian major banks. The evidence suggests that NABs poor performance was consistent with a lack of accountability, poor corporate governance and board dysfunction associated with fraudulent currency trading and the subsequent AUD360 million foreign currency losses. The NAB’s performance is investigated by utilizing accounting-based measures of profitability and cost efficiency as proxies for performance. Following the foreign currency trading losses in 2004 the NAB under-performed the other major Australian banks in terms of profits, cost to income ratio and growth in assets. In terms of profitability and cost efficiency NAB had the lowest ROE and ROA with a 19.7% fall in net profit and the highest cost to income ratio of 57.4% of any of the five largest banks. This case study provides an Australian example of poor corporate governance and suggests that financial institutions and regulators can learn from the NAB’s experience. Failure to have top-down accountability can have significant impact on over-all performance, profitability and reputation. In particular, it suggests that management and Boards need to review their risk management procedures and regulators need to be more pro-active in their prudential oversight of financial institutions.
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Temple, Jeromey, Sue Booth, and Christina Pollard. "Social Assistance Payments and Food Insecurity in Australia: Evidence from the Household Expenditure Survey." International Journal of Environmental Research and Public Health 16, no. 3 (February 4, 2019): 455. http://dx.doi.org/10.3390/ijerph16030455.
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It is widely understood that households with low economic resources and poor labourmarket attachment are at considerable risk of food insecurity in Australia. However, little is knownabout variations in food insecurity by receipt of specific classes of social assistance payments thatare made through the social security system. Using newly released data from the 2016 HouseholdExpenditure Survey, this paper reports on variations in food insecurity prevalence across a range ofpayment types. We further investigated measures of financial wellbeing reported by food-insecurehouseholds in receipt of social assistance payments. Results showed that individuals in receiptof Newstart allowance (11%), Austudy/Abstudy (14%), the Disability Support Pension (12%),the Carer Payment (11%) and the Parenting Payment (9%) were at significantly higher risk of foodinsecurity compared to those in receipt of the Age Pension (<1%) or no payment at all (1.3%). Resultsfurther indicated that food-insecure households in receipt of social assistance payments enduredsignificant financial stress, with a large proportion co-currently experiencing “fuel” or “energy”poverty. Our results support calls by a range of Australian non-government organisations, politicians,and academics for a comprehensive review of the Australian social security system
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Tarca, Silvio, and Marek Rutkowski. "Assessing the Basel II internal ratings-based approach." Journal of Financial Regulation and Compliance 24, no. 2 (May 9, 2016): 106–39. http://dx.doi.org/10.1108/jfrc-05-2015-0024.
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Purpose This study aims to render a fundamental assessment of the Basel II internal ratings-based (IRB) approach by taking readings of the Australian banking sector since the implementation of Basel II and comparing them with signals from macroeconomic indicators, financial statistics and external credit ratings. The IRB approach to capital adequacy for credit risk, which implements an asymptotic single risk factor (ASRF) model, plays an important role in protecting the Australian banking sector against insolvency. Design/methodology/approach Realisations of the single systematic risk factor, interpreted as describing the prevailing state of the Australian economy, are recovered from the ASRF model and compared with macroeconomic indicators. Similarly, estimates of distance-to-default, reflecting the capacity of the Australian banking sector to absorb credit losses, are recovered from the ASRF model and compared with financial statistics and external credit ratings. With the implementation of Basel II preceding the time when the effect of the financial crisis of 2007-2009 was most acutely felt, the authors measure the impact of the crisis on the Australian banking sector. Findings Measurements from the ASRF model find general agreement with signals from macroeconomic indicators, financial statistics and external credit ratings. This leads to a favourable assessment of the ASRF model for the purposes of capital allocation, performance attribution and risk monitoring. The empirical analysis used in this paper reveals that the recent crisis imparted a mild stress on the Australian banking sector. Research limitations/implications Given the range of economic conditions, from mild contraction to moderate expansion, experienced in Australia since the implementation of Basel II, the authors cannot attest to the validity of the model specification of the IRB approach for its intended purpose of solvency assessment. Originality/value Access to internal bank data collected by the prudential regulator distinguishes this paper from other empirical studies on the IRB approach and financial crisis of 2007-2009. The authors are not the first to attempt to measure the effects of the recent crisis, but they believe that they are the first to do so using regulatory data.
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Mi, Lin, Karen Benson, and Robert Faff. "Further evidence on idiosyncratic risk and REIT pricing: a cross-country analysis." Accounting Research Journal 29, no. 1 (May 3, 2016): 34–58. http://dx.doi.org/10.1108/arj-07-2013-0048.
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Purpose The purpose of this study is to provide new cross-country evidence on the relation between real estate investment trust (REIT) returns and idiosyncratic risk for samples of listed and unlisted REITs in the US and Australia. Design/methodology/approach Five alternative models with exponential GARCH enhancements were employed, in a Fama-MacBeth (1973) setup. The authors assess the statistical significance of the idiosyncratic risk variable and interpret the outcomes. Findings The results show that listed REITs in the US and Australia demonstrate a positive idiosyncratic risk-return linkage over the long period of January 1980-November 2013 and April 1994-December 2012, respectively. A further examination by sub-period reveals that this positive relation is only evident in the new REIT era (January 1993-September 2001), absent in the vintage era (before December 1992) and maturity era (November 2001-August 2008). The unlisted REITs in both countries show no relation with idiosyncratic risk. Further, the global financial crisis has no effect on the relation between idiosyncratic risk and REIT returns. Originality/value A key motivation of this paper stems from the mixed findings documented in the literature. Also very little research has been done on the idiosyncratic risk-REIT returns linkage in the Australian context. This study offers unique insights from comparisons: Australia vs the US; and listed vs unlisted REITs.
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Koupil, Ilona, Leigh Tooth, Amy Heshmati, and Gita Mishra. "Social patterning of overeating, binge eating, compensatory behaviours and symptoms of bulimia nervosa in young adult women: results from the Australian Longitudinal Study on Women’s Health." Public Health Nutrition 19, no. 17 (June 22, 2016): 3158–68. http://dx.doi.org/10.1017/s1368980016001440.
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AbstractObjectiveTo study social patterning of overeating and symptoms of disordered eating in a general population.DesignA representative, population-based cohort study.SettingThe Australian Longitudinal Study on Women’s Health (ALSWH), Survey 1 in 1996 and Survey 2 in 2000.SubjectsWomen (n12 599) aged 18–23 years completed a questionnaire survey at baseline, of whom 6866 could be studied prospectively.ResultsSeventeen per cent of women reported episodes of overeating, 16 % reported binge eating and 10 % reported compensatory behaviours. Almost 4 % of women reported symptoms consistent with bulimia nervosa. Low education, not living with family, perceived financial difficulty (OR=1·8 and 1·3 for women with severe and some financial difficulty, respectively, compared with none) and European language other than English spoken at home (OR=1·5 for European compared with Australian/English) were associated with higher prevalence of binge eating. Furthermore, longitudinal analyses indicated increased risk of persistent binge eating among women with a history of being overweight in childhood, those residing in metropolitan Australia, women with higher BMI, smokers and binge drinkers.ConclusionsOvereating, binge eating and symptoms of bulimia nervosa are common among young Australian women and cluster with binge drinking. Perceived financial stress appears to increase the risk of binge eating and bulimia nervosa. It is unclear whether women of European origin and those with a history of childhood overweight carry higher risk of binge eating because of genetic or cultural reasons.
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Hasanzadeh Nafari, R., T. Ngo, and W. Lehman. "Calibration and validation of FLFA<sub>rs</sub> -- a new flood loss function for Australian residential structures." Natural Hazards and Earth System Sciences 16, no. 1 (January 18, 2016): 15–27. http://dx.doi.org/10.5194/nhess-16-15-2016.
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Abstract. Rapid urbanisation, climate change and unsustainable developments are increasing the risk of floods. Flood is a frequent natural hazard that has significant financial consequences for Australia. The emergency response system in Australia is very successful and has saved many lives over the years. However, the preparedness for natural disaster impacts in terms of loss reduction and damage mitigation has been less successful. In this paper, a newly derived flood loss function for Australian residential structures (FLFArs) has been presented and calibrated by using historic data collected from an extreme event in Queensland, Australia, that occurred in 2013. Afterwards, the performance of the method developed in this work (contrasted to one Australian model and one model from USA) has been compared with the observed damage data collected from a 2012 flood event in Maranoa, Queensland. Based on this analysis, validation of the selected methodologies has been performed in terms of Australian geographical conditions. Results obtained from the new empirically based function (FLFArs) and the other models indicate that it is apparent that the precision of flood damage models is strongly dependent on selected stage damage curves, and flood damage estimation without model calibration might result in inaccurate predictions of losses. Therefore, it is very important to be aware of the associated uncertainties in flood risk assessment, especially if models have not been calibrated with real damage data.
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Huynh, Nhan, Dat Nguyen, and Anh Dao. "Sectoral Performance and the Government Interventions during COVID-19 Pandemic: Australian Evidence." Journal of Risk and Financial Management 14, no. 4 (April 12, 2021): 178. http://dx.doi.org/10.3390/jrfm14040178.
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This study explores the contrasting impacts of the COVID-19 pandemic on various industries in Australia. Considering all daily announced information, we analyzed the diverse impacts of COVID-19 on the sectoral stock returns from 26 January to 20 July 2020. Sixteen out of twenty examined stock indices negatively react to the daily rise in COVID-19 confirmed cases. Several actions from the Australian government to control the pandemic are relatively ineffective in boosting the overall financial market; however, some positive interactions are captured in five sectors of industrials, health care, metals and mining, materials, and resources. The result shows that all industries that benefited from government financial assistance are either shielded or less severely affected by the pandemic. While sectors that did not directly receive financial remedies relatively showed no enhancement in their overall performance. Having achieved short-term success in helping the economy, the government recorded an all-time high deficit since 2004 that might eventually lead to adverse effects on the overall economy. The Australian equity market is found to be rationally distinct to the crude oil price risk, while positive correlations between AUD/USD rate and real estate-related sectors are reported.
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Loudon, Geoffrey F. "Financial Risk Exposures in the Airline Industry: Evidence from Australia and New Zealand." Australian Journal of Management 29, no. 2 (December 2004): 295–316. http://dx.doi.org/10.1177/031289620402900208.
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Steen, Adam, and David MacKenzie. "The Sustainability of the Youth Foyer Model: A Comparison of the UK and Australia." Social Policy and Society 16, no. 3 (May 16, 2016): 391–404. http://dx.doi.org/10.1017/s1474746416000178.
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The youth foyer model was designed to provide a package of support, including accommodation to homeless or at-risk young people, based on participation in education, training and/or employment as a supported transition to independent living and a sustainable livelihood. Commencing in the early 1990s, the UK has developed a large number of foyers while Australia is a relative newcomer to this kind of supportive youth housing. Unlike in the UK, existing and proposed Australian foyer income generated from current benefits and subsidies is not sufficient to cover the cost of support. We highlight the need for an extensible source of funding specifically for supportive housing for homeless and at-risk youth in order to ensure the financial sustainability and therefore replicability of the foyer model in Australia. We also discuss some issues relating to the translation of the model from one national context to another.
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Min, Jian, Jiaojiao Zhu, and Jian-Bo Yang. "The Risk Monitoring of the Financial Ecological Environment in Chinese Outward Foreign Direct Investment Based on a Complex Network." Sustainability 12, no. 22 (November 13, 2020): 9456. http://dx.doi.org/10.3390/su12229456.
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Aiming at the risk problem of financial ecological environment in outward foreign direct investment (OFDI), this paper constructs a risk monitoring model of the financial ecological environment based on complex network theory, and analyzes the general laws of financial risk evolution in Chinese OFDI by using data from 2008 to 2017 in 20 countries. First, the key risk factors are found through centrality analysis, then the correlation between risk indicators is obtained by cohesive subgroup analysis. Finally, we calculate network density, clustering coefficient and global efficiency to explore the time-spatial laws of the financial risk evolution in OFDI are obtained. At the same time, Kruskal’s algorithm is used to generate the minimum spanning tree (MST), and the change trend of risk transmission path is obtained. The results show that the following four risk indicators: M2/GDP, foreign exchange reserve, stock exchange turnover rate, total government debt as a percentage of GDP play an important role in the whole risk network and are the key nodes of risk evolution. The internal financial risks in Pakistan, the United States, Israel and Poland are more complex and highly transmissible. The risk transmission path based on MST shows that Australia and Bulgaria play an important role in risk transmission, and the length of risk transmission path has an overall upward trend. The conclusions of this study have guiding significance for overseas investment companies to prevent investment risks and ensure their sustainable development overseas.
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Whitty, Jennifer A., Adem Sav, Fiona Kelly, Michelle A. King, Sara S. McMillan, Elizabeth Kendall, and Amanda J. Wheeler. "Chronic conditions, financial burden and pharmaceutical pricing: insights from Australian consumers." Australian Health Review 38, no. 5 (2014): 589. http://dx.doi.org/10.1071/ah13190.
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Objective To explore the perceptions of Australian consumers and carers about the financial burden associated with medicines used for the treatment of chronic conditions. Method Semi-structured interviews were undertaken with individuals (n = 97) who identified as having a chronic condition(s) (n = 70), cared for someone with a chronic condition(s) (n = 8), or both (n = 19). Participants included individuals identifying with an Aboriginal or Torres Strait Islander (n = 23) or Culturally and Linguistically Diverse (n = 19) background. Data were analysed using the constant comparison method and reported thematically. Results Participants described substantial costs associated with medicines use, along with aggravating factors, including the duration and number of medicines used, loss of employment, lack of pricing consistency between pharmacies and the cost of dose administration aids. Consequences included impacts on medicine adherence, displacement of luxury items and potentially a reduced financial incentive to work. Understanding and beliefs related to pharmaceutical pricing policy varied and a range of proactive strategies to manage financial burden were described by some participants. Conclusions The financial burden associated with medicines used for the management of chronic conditions by Australian consumers is substantial. It is compounded by the ongoing need for multiple medicines and indirect effects associated with chronic conditions, such as the impact on employment. What is known about the topic? Medicines are a common form of treatment in chronic conditions. The financial burden related to medicines use, including co-payments, is associated with reduced adherence and other cost-coping strategies. Out of pocket costs for prescription medicines are relatively high in Australia compared with some other countries, including New Zealand and the United Kingdom. Australian consumers with chronic illness are likely to be at particular risk of financial burden associated with medicines use. What does this paper add? This paper explores the perceptions of consumers and carers around the financial burden associated with the use of medicines for the treatment of chronic conditions in Australia. It draws on the experiences and perceptions of a diverse group of consumers in Australia who identify as having, or caring for someone with, a chronic condition(s). What are the implications for practitioners? Health professionals who assist consumers to manage their medicines need to be aware of the potential for financial burden associated with medicines use and its potential impact on adherence. There is a need for health professionals to educate and assist consumers with chronic conditions to ensure they can navigate the health system to maximum benefit and receive financial entitlements for which they are eligible.
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Andersson, Tommy Daniel, Don Getz, David Gration, and Maria M. Raciti. "Event portfolios: asset value, risk and returns." International Journal of Event and Festival Management 8, no. 3 (October 9, 2017): 226–43. http://dx.doi.org/10.1108/ijefm-01-2017-0008.
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Purpose The research question addressed is whether an event portfolio analysis rooted in financial portfolio theory can yield meaningful insights to complement two approaches to event portfolios. The first approach is extrinsic and rooted in economic impact analysis where events need to demonstrate a financial return on investment. In the second approach events are valued ally, with every event having inherent value and the entire portfolio being valued for its synergistic effects and contribution to social and cultural goals. The paper aims to discuss these issues. Design/methodology/approach Data from visitors to four events in the Sunshine Coast region of Australia are analyzed to illustrate key points, including the notion of “efficient frontier.” Findings Conceptual development includes an examination of extrinsic and intrinsic perspectives on portfolios, ways to define and measure value, returns, risk, and portfolio management strategies. In the conclusions a number of research questions are raised, and it is argued that the two approaches to value event portfolios can be combined. Research limitations/implications Only four events were studied, in one Australian local authority. The sample of residents who responded to a questionnaire was biased in terms of age, education and gender. Social implications Authorities funding events and developing event portfolios for multiple reasons can benefit from more rigorous analysis of the value created. Originality/value This analysis and conceptual development advances the discourse on portfolio theory applied to event management and event tourism.
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Butterworth, P., B. J. Kelly, T. E. Handley, K. J. Inder, and T. J. Lewin. "Does living in remote Australia lessen the impact of hardship on psychological distress?" Epidemiology and Psychiatric Sciences 27, no. 5 (April 3, 2017): 500–509. http://dx.doi.org/10.1017/s2045796017000117.
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Aims.Rural and remote regions tend to be characterised by poorer socioeconomic conditions than urban areas, yet findings regarding differences in mental health between rural and urban areas have been inconsistent. This suggests that other features of these areas may reduce the impact of hardship on mental health. Little research has explored the relationship of financial hardship or deprivation with mental health across geographical areas.Methods.Data were analysed from a large longitudinal Australian study of the mental health of individuals living in regional and remote communities. Financial hardship was measured using items from previous Australian national population research, along with measures of psychological distress (Kessler-10), social networks/support and community characteristics/locality, including rurality/remoteness (inner regional; outer regional; remote/very remote). Multilevel logistic regression modelling was used to examine the relationship between hardship, locality and distress. Supplementary analysis was undertaken using Australian Household, Income and Labour Dynamics in Australia (HILDA) Survey data.Results.2161 respondents from the Australian Rural Mental Health Study (1879 households) completed a baseline survey with 26% from remote or very remote regions. A significant association was detected between the number of hardship items and psychological distress in regional areas. Living in a remote location was associated with a lower number of hardships, lower risk of any hardship and lower risk of reporting three of the seven individual hardship items. Increasing hardship was associated with no change in distress for those living in remote areas. Respondents from remote areas were more likely to report seeking help from welfare organisations than regional residents. Findings were confirmed with sensitivity tests, including replication with HILDA data, the use of alternative measures of socioeconomic circumstances and the application of different analytic methods.Conclusions.Using a conventional and nationally used measure of financial hardship, people residing in the most remote regions reported fewer hardships than other rural residents. In contrast to other rural residents, and national population data, there was no association between such hardship and mental health among residents in remote areas. The findings suggest the need to reconsider the experience of financial hardship across localities and possible protective factors within remote regions that may mitigate the psychological impact of such hardship.
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Fryberger, Annelies, and Matthew Lorenzon. "Risky Gifts and Uncertain Business: A Discussion of Results from a Survey on Commissioning in New Music." La commande d’oeuvre 26, no. 2 (August 18, 2016): 39–50. http://dx.doi.org/10.7202/1037302ar.
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What are the risks involved in commissioning new music? Through interviews with 24 commissioners, performers, and composers based in Canada, the us, Australia, and France, we develop a model of the different types of risk encountered during the commissioning process. Despite providing the money for a commission, we found that commissioners are least exposed to financial risk as it is classically defined; commissioning fees really do behave like the philanthropic gifts they are legislated to be. Composers were likewise little exposed to financial risk, concerning themselves instead primarily with the uncertainty inherent to the creative process. We found that it is actually performers who are most exposed to financial risk, especially when they act as “middlemen” between commissioning bodies and composers. Burdened with compliance to a variety of Occupational Health and Safety laws and cash-flow issues stemming from conflicting outcomes and funding schedules, we found that performers were caught in a pincer between composers’ desires to take aesthetic risks and the obligations created by the philanthropic gift.
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Imam, Tasadduq, Abdullahi D. Ahmed, and Kevin Tickle. "Dynamics of the currency exchange rates against the AUD: Analytical and risk mitigation perspectives." Corporate Ownership and Control 10, no. 3 (2013): 366–79. http://dx.doi.org/10.22495/cocv10i3c3art3.
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In recent era, the volatility of exchange rates has drawn considerable notice, especially in the light of huge losses from foreign exchange derivatives by several major firms during the Global Financial Crisis. Australia stands out as a major economy in contemporary arena, and there have been incidents of such loss from derivatives tied to exchange rates against the Australian Dollar (AUD). Under this context, this article aims to characterize the economical aspects of Australia’s major trading partners with a view to guiding corporate governance community in respect to risk mitigation actions. The time span considered is January 1999-May 2011, and 14 major currencies are incorporated in this research. The research scrutinizes the statistical and stochastic properties of the exchange rates, and segments the Australia’s trading partners in terms of these aspects. The results further show that consideration of grouping produces a better approximation of the strength of Australian Dollar in the global context.
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Sutcliffe, Sarah, Bradley O. Clarke, and Oliver A. H. Jones. "Steroid oestrogens in the environment: an Australian perspective." Water Science and Technology 68, no. 11 (October 24, 2013): 2317–29. http://dx.doi.org/10.2166/wst.2013.508.
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Endocrine disrupting compounds (EDCs) have been in the scientific spotlight since the 1980s. However, there has been much less research reported in Australia than in other developed countries and little information is known about how these compounds interact with native Australian species compared to European and North American fauna. This is of concern because Australia has distinct wildlife and environments that face increasing intensity and frequency of extreme, climatic events compared to northern hemisphere countries. Since oestrogenic compounds cannot be prevented from entering wastewater their management and removal must occur at wastewater treatment plants. Biological treatment is the most effective tool in this regard; however the financial and environmental costs must be balanced with the environmental benefit to effectively plan treatment options. Since standard risk assessment models and procedures developed internationally are unlikely to translate well to Australian ecosystems, new, novel and localised research on both the monitoring and assessment of EDCs in Australian wastewater and receiving aquatic environments is recommended. This includes the development of relevant bioassays and application of treatment technologies that reflect the local community and climate.
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Epper, M. S. "DIRECTORS' ENVIRONMENTAL RISK—HOW TO CONTROL?" APPEA Journal 37, no. 1 (1997): 585. http://dx.doi.org/10.1071/aj96037.
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To date the petroleum industry in Australia has an excellent report card in relation to its environmental responsibilities and it is obviously in the interests of the individuals and companies involved in the industry, and the community at large, to maintain the high standards. The high standards of the petroleum companies no doubt reflect the good environmental practices undertaken in the industry to control environmental risk. What are the high standards that companies employ? Up until now the users of financial statement and community have been kept in the dark because this type of information has not been disclosed.The answer to satisfy the users of financial statements is greater disclosure of the high standards but obviously petroleum companies will also need to continue to employ standards and tailor them to the changing risk profile of the industry.This paper will examine directors' exposure to environmental risk and how environmental risks are accounted for and disclosed.
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Gatina, Liliya. "The Impact of Home Institutions on the Financial Risk of Immigrants: Evidence from Australia." International Journal of Diversity in Organizations, Communities, and Nations: Annual Review 11, no. 4 (2012): 37–54. http://dx.doi.org/10.18848/1447-9532/cgp/v11i04/39026.
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Mercereau, Benoît. "Financial Integration in Asia: Estimating the Risk-Sharing Gains for Australia and Other Nations." IMF Working Papers 06, no. 267 (2006): 1. http://dx.doi.org/10.5089/9781451865271.001.
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Titis Pertiwi, Angelita. "The Factors Associated with Risk and Time Preferences: Evidence from Australian Data." Journal of Interdisciplinary Socio-Economic and Community Study 2, no. 2 (December 31, 2022): 93–112. http://dx.doi.org/10.21776/jiscos.02.02.05.
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Risk and time preferences are crucial to economic growth because they can influence people's decisions about saving and investing. These preferences may partially explain inequality, the reason why the poor will always be poor. The aims of this study is to investigate the potential factors contributing to the heterogeneity of risk-taking and patient behavior in Australia using cross-sectional data from 2019. This investigation looks for the association between risk-taking and patient behavior and sociodemographic characteristics using the OLS (Ordinary Least Squares) assessment. Age, gender, education, socio-economic index, household formations, indigenous individuals, spoken language at home for daily conversation, and country of birth are the variables. The key finding in terms of patience is that people with higher levels of education, people who live in areas with higher levels of socio-economic advantage, and individuals who live in a home with couple-family have higher levels of time preference. Moreover, persistence is adversely related with native endlessly individuals brought into the world in principally English-talking foundation nations. As far as hazard inclinations, the primary outcome is that ladies are more gamble unwilling than men. Besides, risk-taking way of behaving is decidedly related with individuals living in regions encountering lower levels of financial drawback, individuals living in a solitary parent family, and individuals brought into the world in basically non-English talking foundation nations.
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Nordblom, T. L., T. R. Hutchings, R. C. Hayes, G. D. Li, and J. D. Finlayson. "Does establishing lucerne under a cover crop increase farm financial risk?" Crop and Pasture Science 68, no. 12 (2017): 1149. http://dx.doi.org/10.1071/cp16379.
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Rainfed farms in south-eastern Australia often combine annual cropping and perennial pasture phases with grazing sheep enterprises. Such diversity serves in managing diseases, pests and plant nutrition while stabilising income in the face of wide, uncorrelated variations in international commodity prices and local weather over time. We use an actuarial accounting approach to capture the above contexts to render financial risk profiles in the form of distributions of decadal cash balances for a representative 1000-ha farm at Coolamon (34°50ʹS, 147°12ʹE) in New South Wales, Australia. For the soil and weather conditions at this location we pose the question of which approach is better when establishing the perennial pasture lucerne (Medicago sativa L.): sowing with the final crop of the cropping phase, or sowing alone following the final crop? It is less expensive to sow lucerne with the final crop, which can provide useful income from the sale of grain, but this practice can reduce pasture quantity and quality in poorer years. Although many years of field research have confirmed that sowing lucerne alone is the most reliable way to establish a pasture in this area, and years of extension messages to this effect have gone out to farmers, they often persist in sowing lucerne with their final cereal crops. For this region, counting all costs, we show that sowing lucerne alone can reduce farm financial risk (i.e. probability of negative decadal cash balances) at stocking rates >10 dry sheep equivalents (DSE)/ha, compared with the practice of sowing lucerne with a cover crop. Establishing lucerne alone allows the farmer the option to profitably run higher stocking rates for higher median decadal cash margins without additional financial risk. At low stocking rates (i.e. 5 DSE/ha), there appears to be no financial advantage of either establishment approach. We consider the level of equity, background farm debt and overhead costs to demonstrate how these also affect risk-profile positions of the two sowing options. For a farm that is deeply in debt, we cannot suggest either approach to establishing lucerne will lead to substantially better financial outcomes.
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Hardman, Blair, and Dave Sharp. "Lighting the way." APPEA Journal 62, no. 2 (May 13, 2022): S274—S277. http://dx.doi.org/10.1071/aj21226.
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Historically, Chevron Australia Pty Ltd have utilised Mobile Diesel Lighting Towers (MDLTs), with ‘turtle friendly’ luminaires at the Gorgon natural gas project (located on Barrow Island, Western Australia), operated by Chevron Australia on behalf of a joint venture of the Australian subsidiaries of Chevron (47.3%), ExxonMobil (25%), Shell (25%), Osaka Gas (1.25%), Tokyo Gas (1%) and JERA (0.417%). MDLTs are a known, relatively safe and reliable light source that can be utilised in most locations, though they emit noise, odour, vibrations, waste hydrocarbons and CO2 as well as requiring regular refuelling and general engine maintenance. With recent and significant improvements in solar energy harvest, and battery storage efficiencies, Mobile Solar Lighting Towers (MSLTs) have technical and performance characteristics that are comparable, and in many instances superior, to MDLTs. In addition to these characteristics, Chevron Australia has successfully worked with its Australian supplier, conducting trials on site to introduce a range of additional design and performance improvements. These improvements include simple Human–Machine Interface (HMI) touch screen interface allowing remote automation through WiFi or 4G, real-time battery and performance monitoring, CCTV, geofencing and GPS tracking. The benefits of replacing just 25 owned MDLTs with solar includes the abatement of over 600 tonnes of CO2 and direct operational cost savings of almost A$50 000 per year (not including indirect cost savings or avoided carbon emissions costs). Further, net present value calculations demonstrate a financial benefit exceeding A$1 000 000 over 5 years when the solar towers are leased compared with maintaining existing or purchasing new diesel units. These MSLT units are delivering environmental benefits, direct and indirect financial savings, and reduced health, safety and environment risk, which have been welcomed by the on-site workforce.
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Le Fur, Eric, Hachmi Ben Ameur, and Benoit Faye. "Time-Varying Risk Premiums in the Framework of Wine Investment." Journal of Wine Economics 11, no. 3 (November 4, 2016): 355–78. http://dx.doi.org/10.1017/jwe.2016.15.
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AbstractThis article examines the time-varying risk premium with reference to investments in fine wines. Unlike previous studies, our article focuses on this issue within the context of the financial crisis. To do this, we propose the use of a conditional capital asset pricing model and a multivariate generalized autoregressive conditional heteroskedasticity model on several appellation wines worldwide. We find that Bordeaux fine wines were more volatile during the financial crisis and are less volatile in non-crisis periods. In addition, while the volatility of Burgundy wines is second only to Bordeaux wines, non-French fine wines (Australia, Italy, and USA) exhibit inverse volatility trends to French fine wines. (JEL Classifications: C50, G01, G11, Q13)
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Pettigrew, Simone, Min Jun, Ian Roberts, Kellie Nallaiah, Chris Bullen, and Anthony Rodgers. "The Potential Effectiveness of COVID-Related Smoking Cessation Messages in Three Countries." Nicotine & Tobacco Research 23, no. 7 (March 30, 2021): 1254–58. http://dx.doi.org/10.1093/ntr/ntab023.
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Abstract Introduction Health authorities are advising smokers to quit to reduce their COVID-related risk. The types of messages that may be effective in alerting smokers to this risk and encouraging a quit attempt are unknown. The aim of this study was to test a series of messages to identify potentially effective communication approaches. Methods An online survey was completed by 1509 smokers across three countries (Australia: n = 604; New Zealand: n = 304; United Kingdom: n = 601) in April–May 2020. Respondents were randomly assigned to view just one of four quit messages, two of which explicitly referred to the coronavirus, one referred to risk of chest infection, and one encouraged cessation for financial reasons. Outcome variables included quit intentions, further information seeking, message perceptions, and health and financial concerns. Results All four messages were associated with significant differences in the proportions of respondents intending to quit within the following 2 wk (increase range: 11%–34%) and with substantial proportions of respondents electing to access additional information (range: 37%–50%). The differences in intentions were significantly larger for the two health-related messages that specifically mentioned the coronavirus. All messages were perceived favorably in terms of acceptability, believability, effectiveness, and personal relevance. Negligible differences in health and financial concerns were observed. Conclusions Smokers in Australia, New Zealand, and the United Kingdom appear likely to be receptive to messages about their COVID-related risk. Such messages have the potential to increase quit intentions and prompt information-seeking behaviors. Implications The COVID-19 pandemic represents an opportunity to encourage smokers to quit to reduce both their COVID-related risks and their risks of a broad range of noncommunicable diseases.
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Rashidi, Taha H., and Milad Ghasri. "A competing survival analysis for housing relocation behaviour and risk aversion in a resilient housing market." Environment and Planning B: Urban Analytics and City Science 46, no. 1 (April 20, 2017): 122–42. http://dx.doi.org/10.1177/2399808317703381.
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Residential relocation decision making is a complicated process, and modelling this complex course of actions requires careful scrutinisation of different aspects. The relocation decision comprises several different decisions, including the reason for the relocation, relocation timing, and attributes of the desired residence. Among these decisions needing to be taken, the reason for relocation and its timing are decided earlier than others. Depending on the variant reasons and motivations for relocating, its timing may be accelerated or decelerated. Relocation usually occurs because of a multiplicity of reasons, which necessitates using a multivariate model for relocation decision making that is jointly modelled with the timing decision. A competing accelerated failure model to jointly formulate these decisions. The housing search literature emphasizes on the importance of considering financial risk acceptance level of decision makers in residential relocation decision models. Therefore, a binary logit model is used to model whether the decision maker is financially risk averse or not. This paper used longitudinal data collected in Australia from the Household, Income, and Labour Dynamics in Australia Survey. Further, the impact of group decision making on residential relocation is captured in this paper through the information provided in Household, Income, and Labour Dynamics in Australia Survey regarding the manner in which decisions are made within households.
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Hasanzadeh Nafari, R., T. Ngo, and W. Lehman. "Results comparison and model validation for flood loss functions in Australian geographical conditions." Natural Hazards and Earth System Sciences Discussions 3, no. 6 (June 12, 2015): 3823–60. http://dx.doi.org/10.5194/nhessd-3-3823-2015.
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Abstract. Rapid urbanisation, climate change and unsustainable developments are increasing the risk of floods, namely flood frequency and intensity. Flood is a frequent natural hazard that has significant financial consequences for Australia. The emergency response system in Australia is very successful and has saved many lives over the years. However, the preparedness for natural disaster impacts in terms of loss reduction and damage mitigation has been less successful. This study aims to quantify the direct physical damage to residential structures that are prone to flood phenomena in Australia. In this paper, the physical consequences of two floods from Queensland have been simulated, and the results have been compared with the performance of two selected methodologies and one newly derived model. Based on this analysis, the adaptability and applicability of the selected methodologies will be assessed in terms of Australian geographical conditions. Results obtained from the new empirically-based function and non-adapted methodologies indicate that it is apparent that the precision of flood damage models are strongly dependent on selected stage damage curves, and flood damage estimation without model validation results in inaccurate prediction of losses. Therefore, it is very important to be aware of the associated uncertainties in flood risk assessment, especially if models have not been adapted with real damage data.
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Scott, Gavin. "Sword or a shield? The changing dynamic of the regulatory landscape for Australian gas projects." APPEA Journal 54, no. 2 (2014): 509. http://dx.doi.org/10.1071/aj13082.
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From increased domestic opposition to CSG, to international legal challenges about the project financing of gas projects, the Australian gas industry is under siege from numerous stakeholders—communities, domestic governments and non-government organisations both in Australia and internationally. What this has meant for the industry is a significantly increased risk of in doing business in Australia. A key reason for this elevated risk is that stakeholders are becoming increasingly savvy in the legal and quasi-legal avenues for challenging a project—and regulators are increasingly providing stakeholders the tools to do this. During the past two years, we have seen a number of regulatory regimes used, not simply to protect stakeholders’ rights under these regimes, but as part of a strategy to undermine the legal, financial, and reputational foundations of project as a whole. These regimes include: the domestic and international social and environmental impact standards for the financing and assessment of projects; land access and compensation regimes; and, the native title and cultural heritage protection regimes. As a response to stakeholder action, regulators are also becoming more reactive and regulations more proscriptive. This extended abstract examines the financial and operational impacts of using regulatory regimes as a sword, rather than a shield, against gas proponents, using case studies including the challenge to US Ex-Im’s funding of the APLNG project and the James Price Point project. This extended abstract highlights how, in this new legal environment, proponents must balance compliance with relationships, domestic pressures with international standards and cost with exposure to risk.
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Adams, Jessie, Alison Kennedy, Jacqueline Cotton, and Susan Brumby. "Child Farm-Related Injury in Australia: A Review of the Literature." International Journal of Environmental Research and Public Health 18, no. 11 (June 4, 2021): 6063. http://dx.doi.org/10.3390/ijerph18116063.
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Children on farms have been identified as a population vulnerable to injury. This review seeks to identify child farm-related injury rates in Australia and to determine the key hazards and contributing risk factors. This critical review utilised the PRISMA guidelines for database searching. Research from the year 2000 onward was included as well as earlier seminal texts. Reference lists were searched, and the relevant research material was explored. Our primary focus was on Australian peer-reviewed literature with international and grey literature examples included. Evidence suggests that there is limited Australian research focusing on child farm-related injuries. Child representation in farm-related injuries in Australia has remained consistent over time, and the key hazards causing these injuries have remained the same for over 20 years. The factors contributing to child rates of farm injury described in the literature include child development and exposure to dangerous environments, the risk-taking culture, multi-generational farming families, lack of supervision, child labour and lack of regulation, limited targeted farm safety programs, underuse of safe play areas, financial priorities and poor understanding and operationalisation of the hierarchy of control. It is well known that children experience injury on farms, and the key hazards that cause this have been clearly identified. However, the level of exposure to hazards and the typical attitudes, behaviours and actions of children and their parents around the farm that contribute to chid injury remain unexplored.
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Bale, Charan, Alexandra Douglas, Dev Jegatheesan, Linh Pham, Sonny Huynh, Atul Mulay, and Dwarakanathan Ranganathan. "Psychosocial Factors in End-Stage Kidney Disease Patients at a Tertiary Hospital in Australia." International Journal of Nephrology 2016 (2016): 1–6. http://dx.doi.org/10.1155/2016/2051586.
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Aim. This study seeks to review the psychosocial factors affecting patients with end-stage kidney disease (ESKD) from a tertiary hospital in Australia.Methods. We audited patients with ESKD, referred to social work services from January 2012 to December 2014. All patients underwent psychosocial assessments by one, full-time renal social worker. Patient demographics, cumulative social issues, and subsequent interventions were recorded directly into a database.Results. Of the 244 patients referred, the majority were >60 years (58.6%), male (60.7%), born in Australia (62.3%), on haemodialysis (51.6%), and reliant on government financial assistance (88%). Adjustment issues (41%), financial concerns (38.5%), domestic assistance (35.2%), and treatment nonadherence (21.3%) were the predominant reasons for social work consultation. Younger age, referral prior to start of dialysis, and unemployment were significant independent predictors of increased risk of adjustment issues (p=0.004, <0.001, and =0.018, resp.). Independent risk factors for treatment nonadherence included age and financial and employment status (p=0.041, 0.052, and 0.008, resp.).Conclusion. Psychosocial and demographic factors were associated with treatment nonadherence and adjustment difficulties. Additional social work support and counselling, in addition to financial assistance from government and nongovernment agencies, may help to improve adjustment to the diagnosis and treatment plans as patients approach ESKD.
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Godfrey, Sosheel S., Thomas Nordblom, Ryan H. L. Ip, Susan Robertson, Timothy Hutchings, and Karl Behrendt. "Drought Shocks and Gearing Impacts on the Profitability of Sheep Farming." Agriculture 11, no. 4 (April 18, 2021): 366. http://dx.doi.org/10.3390/agriculture11040366.
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The resilience and profitability of livestock production in many countries can be impacted by shocks, such as drought and market shifts, especially under high debt levels. For farmers to remain profitable through such uncertainty, there is a need to understand and predict a farming business’s ability to withstand and recover from such shocks. This research demonstrates the use of biophysical modelling linked with copula and Monte Carlo simulation techniques to predict the risks faced by a typical wool and meat lamb enterprise in South-Eastern Australia, given the financial impacts of different debt levels on a farming business’s profitability and growth in net wealth. The study tested five starting gearing scenarios, i.e., debt to equity (D:E) ratios to define a farm’s financial risk profiles, given weather and price variations over time. Farms with higher gearing are increasingly worse off, highlighting the implications of debt accumulating over time due to drought shocks. In addition to business risk, financial risk should be included in the analyses and planning of farm production to identify optimal management strategies better. The methods described in this paper enable the extension of production simulation to include the farmer’s management information to determine financial risk profiles and guide decision making for improved business resilience.
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Shokri-Ghasabeh, Morteza, and Nicholas Chileshe. "Critical factors influencing the bid/no bid decision in the Australian construction industry." Construction Innovation 16, no. 2 (April 4, 2016): 127–57. http://dx.doi.org/10.1108/ci-04-2015-0021.
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Purpose The purpose of this study is to investigate and rank the critical factors influencing the bid/no bid criteria and their importance in the Australian construction industry. Design/methodology/approach The research study has been undertaken by conducting an extensive literature review on bid/no bid decision-making criteria. As a result, the researchers identified 26 most common bid/no bid decision-making criteria that are accordingly grouped into five distinct categories, namely, “project”, “market”,“contractor”, “client” and “contract”. The literature review was followed by a national survey that was designed and utilised by the researchers to collect data for this purpose. The survey was sent to potential 450 Australian construction companies in various locations and responses were received from 81 Australian construction companies. Response data were subjected to descriptive and inferential statistics. Kruskal Wallis one-way analysis of variance (ANOVA) was applied to detect significant differences between the mean score grouped according to the organisation size (contract value). Findings The descriptive and empirical analysis demonstrated a disparity of ranking of the 26 bid/no bid criteria factors among the groups; however no statistically significant differences among the 26 bid/no criteria factors despite the absolute differences in the rankings and mean scores in the following four factors: (1) “bidding condition”, (2) “strength/weaknesses”, (3) “contract payment terms” and (4) “number of competitors/bidders”. Based on the overall sample, the highly ranked four factors were “client financial capability”, “project risk”, “project future benefits and profitability” and “number of competitors/bidders”. The following were the least ranked: “contractors’ financial situation”, “project duration” and “contractors’ material availability”. “Client financial capability”and “project risk” were jointly ranked as the most important by large, whereas “client financial capability” was also rated highly for smaller Australian construction contractors (ACCs). The medium ACCs had “project risk”as highly ranked. Research limitations The majority of the participants were small construction contractors in Australia. The reason is that the researchers were not aware of the contractors’ size prior to inviting them for participation in the research study. Second, the findings may not generalise to other industries or to organisations operating in other countries. Practical implications The identified “bid/no bid criteria” increase the awareness of existing decision-making practices and play a critical role in the future decisions of the construction companies, where decision makers need to evaluate the next opportunities encountered. Furthermore, knowledge and possession of these identified “bid/no bid” criteria would enable contractors to select a project with a higher probability of success in the future, which will accordingly result in long-term financial benefits and higher performance. Finally, the awareness of these factors could contribute to changing the contractor’s behaviours when bidding in a competitive environment or market conditions. Originality/value The study contributes to the body of knowledge on tendering and bidding practices among contractors in Australia, an area previously under explored. Second, this study provides some insights on the factors influencing the bid/no bid decisions among the ACCs.
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Deweerdt, Tom. "Why Is the Australian Health Sector So Far behind in Practising Climate-Related Disclosures?" International Journal of Environmental Research and Public Health 19, no. 19 (October 6, 2022): 12822. http://dx.doi.org/10.3390/ijerph191912822.
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The health sector in Australia and the ASX100 is lagging far behind in the implementation of carbon management and climate risk analysis. This case study highlights the low quantity and quality of the sector compared to its market weight. The analysis of CDP disclosures for Australian healthcare companies shows this delay and a general lack of interest in the Task Force on Climate-Related Financial Disclosures’ (TCFD) recommendations. Yet, the physical and transitory risks for these companies do exist. The reasons for this inaction represent a knowledge gap in the literature, but several hypotheses are formulated, such as the lack of pressure from public authorities. At the level of the ten largest healthcare companies in the world, this failure to act is not systemic, so the scope of analysis must be broadened to see a pattern emerging.
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Wee, Kenneth. "Australia as an international capital centre and headquarters for oil and gas investments." APPEA Journal 53, no. 1 (2013): 47. http://dx.doi.org/10.1071/aj12005.
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Oil and gas projects inherently require significant sums of capital investments. Uncertainty in the global financial climate, coupled with volatile commodity prices and unrelenting cost escalations, is contributing to the risk of a world-wide credit crunch. In an ever-tightening capital market, investors are forced to compete globally for equity amidst rising costs of capital and an unprecedented demand for accountability by capital providers. Despite tough economic times, Australia has remained one of the world’s leading centres for raising capital for global oil and gas exploration and development exploits. Many players increasingly access Australia’s liquid capital markets to fund emerging oil and gas ventures in locations including Africa, Asia and the Americas. Australia has conducive regulatory and fiscal rules, which make it an attractive holding company jurisdiction to locate either global or regional oil and gas headquarters. There are, however, many aspects of Australia’s fiscal rules that are often overlooked and can prove costly for the global tax effectiveness of investing through Australia and the flow-on impact on global after-tax funding costs in a capital-constrained environment. This peer-reviewed paper seeks to canvass the following: overview of Australia’s holding company tax regime, including Australia’s participation exemption, branch profits exemption and controlled foreign company rules; accidental permanent establishment risks for Australian entities operating abroad; treatment of equity-raising costs; cost allocations for management, technical services and head office support; funding of foreign operations and subsidiaries; holding intellectual property rights and conducting research and development in Australia versus abroad; and Australia’s arm’s length rules.
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Sullivan, Paul. "A risk management approach to safe mooring systems in Australia." APPEA Journal 56, no. 2 (2016): 550. http://dx.doi.org/10.1071/aj15056.
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In March 2015, during cyclone Olwyn, a mobile offshore drilling unit (MODU) experienced a mooring failure and loss of position event. The MODU was blown some three nautical miles off location in the vicinity of subsea and surface infrastructure. There are serious safety, environmental, financial, and reputational risks that can be presented by a loss of mooring position. In response, NOPSEMA hosted a workshop with members of APPEA, the International Drilling Contractors Association (IADC) and with mooring contractors with a view to collectively improve the management of risks associated with the mooring of MODUs in Australia’s tropical waters, both in the short and longer term. Following this workshop, NOPSEMA issued an Information Note for the 2015/16 cyclone season, describing the regulators’ expectations of industry duty holders in respect of MODU mooring system management. At the same time, APPEA’s Drilling Industry Steering Committee (DISC) members aligned on the key principles underpinning a MODU mooring system approach. In late 2015, the APPEA DISC members commissioned a working group to develop a guidance framework for MODU mooring management in Australian tropical waters. DISC aims to work closely with industry partners such as IADC and specialist mooring contractors in the development of this framework. DISC has tasked the working group to have the guidance framework ready for the 2016/17 cyclone season, and for presentation at the 2016 APPEA Conference. The completed case study, presented at the APPEA Conference, provides an excellent example of a goal-setting and continuous improvement regulatory regime working as designed and intended.
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Brown, Christine, Viet Do, and Oscar Trevarthen. "Liquidity shock management: Lessons from Australian banks." Australian Journal of Management 42, no. 4 (November 17, 2016): 637–52. http://dx.doi.org/10.1177/0312896216656720.
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Prior to the 2007–2009 financial crisis, international banks had an average share of around 65% of the syndicated loan market in Australia. When the crisis hit, the resulting liquidity shock resulted in globally active international banks exiting the Australian market. With limited global operations, the major Australian banks were able to absorb and manage the liquidity shock. This resulted in domestic banks carrying a significantly greater proportion of revolving credit facilities in their syndicated loan portfolios after 2008. Domestic bank willingness and ability to deal with the market disruption and to hold a greater proportion of high liquidity risk revolvers are directly linked to the level of their transaction deposits. Their increased involvement in revolving facilities cannot be fully explained by the certification effect or flight-to-home effect. It is not demand driven and is robust to endogeneity tests.
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Moore, Andrew D. "The case for and against perennial forages in the Australian sheep–wheat zone: modelling livestock production, business risk and environmental interactions." Animal Production Science 54, no. 12 (2014): 2029. http://dx.doi.org/10.1071/an14613.
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Perennial forages have been proposed as a means of ameliorating both the summer–autumn feed gap and the risks posed by soil salinity and erosion in mixed farming areas of southern Australia. Whole-farm simulation analyses using the APSIM and GRAZPLAN models at nine locations across southern Australia have evaluated the likely trade-offs among expected profitability, financial risk, soil erosion risk, deep drainage and soil carbon change as annual pastures are converted to perennial pastures based on a C3 grass, a C4 grass or lucerne. Differences between perennial and annual feedbases in total pasture growth (median –11%, range –47% to +20%) and metabolisable energy supply from pasture (median +1%, range –48% to +52%) were diverse across locations and perennial species. At some locations, improvements in the pasture feedbase were counter-balanced by lower livestock intakes from crop stubbles. The modelled farming system with the highest profit included some perennial pasture at seven of the nine locations, but no one pasture species or land-use system predominated across all locations or producer risk attitudes. Local characteristics of the soils and farming systems are as important as broad climatic factors in determining how substituting perennial for annual pastures alters the trade-off between profitability and wind erosion risk. Further expanding permanent pastures into land currently used for crops only unequivocally reduced wind erosion risk at the four locations with Mediterranean climates. Lucerne grown in long rotations provided the best trade-off between mean gross margin and financial risk at Merriwagga and Temora. Permanent C3 or C4 perennial grass pastures separated from continuous cropping may simultaneously increase profits and reduce business and erosion risk at low-rainfall locations with Mediterranean climates, as long as they can be managed to persist. Managing pastures for greater nitrogen inputs could be considered as an erosion-abatement strategy.
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Price, Anna M. H., Anna Zhu, Huu N. J. Nguyen, Diana Contreras-Suárez, Natalie Schreurs, Jade Burley, Kenny D. Lawson, et al. "Study protocol for the Healthier Wealthier Families (HWF) pilot randomised controlled trial: testing the feasibility of delivering financial counselling to families with young children who are identified as experiencing financial hardship by community-based nurses." BMJ Open 11, no. 5 (May 2021): e044488. http://dx.doi.org/10.1136/bmjopen-2020-044488.
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IntroductionPoverty and deprivation can harm children’s future health, learning, economic productivity and societal participation. The Australian Healthier Wealthier Families project seeks to reduce the childhood inequities caused by poverty and deprivation by creating a systematic referral pathway between two free, community-based services: universal, well-child nursing services, which provide health and development support to families with children from birth to school entry, and financial counselling. By adapting the successful Scottish ‘Healthier Wealthier Children’ model, the objectives of this Australian pilot are to test the (1) feasibility of systematising the referral pathway, and (2) short-term impacts on household finances, caregiver health, parenting efficacy and financial service use.Methods and analysisThis pilot randomised controlled trial will run in three sites across two Australian states (Victoria and New South Wales), recruiting a total of 180 participants. Nurses identify eligible caregivers with a 6-item, study-designed screening survey for financial hardship. Caregivers who report one or more risk factors and consent are randomised. The intervention is financial counselling. The comparator is usual care plus information from a government money advice website. Feasibility will be evaluated using the number/proportion of caregivers who complete screening, consent and research measures, and access financial counselling. Though powered to assess feasibility, impacts will be measured 6 months post-enrolment with qualitative interviews and questionnaires about caregiver-reported income, loans and costs (adapted from national surveys, for example, the Household, Income and Labour Dynamics in Australia Survey); health (General Health Questionnaire 1, EuroQol five-dimensional questionnaire, Depression, Anxiety, Stress Scale short-form); efficacy (from the Longitudinal Study of Australian Children); and financial service use (study-designed) compared between arms.Ethics and disseminationEthics committees of the Royal Children’s Hospital (HREC/57372/RCHM-2019) and South West Sydney Local Health District (2019/ETH13455) have approved the study. Participants and stakeholders will receive results through regular communication channels comprising meetings, presentations and publications.Trial registration numberACTRN12620000154909; prospectively registered. Pre-results.
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Bygrave, Annie, Kate Whittaker, Christine Paul, Elizabeth A. Fradgley, Megan Varlow, and Sanchia Aranda. "Australian Experiences of Out-of-Pocket Costs and Financial Burden Following a Cancer Diagnosis: A Systematic Review." International Journal of Environmental Research and Public Health 18, no. 5 (March 2, 2021): 2422. http://dx.doi.org/10.3390/ijerph18052422.
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(1) Background: This systematic review was conducted to identify cancer patient experiences, and the impact of out-of-pocket costs and financial burden in Australia. (2) Methods: A systematic review, following the Preferring Reporting Items for Systematic Reviews and Meta-Analyses, was conducted. Cumulative Index of Nursing and Allied Health Literature and PubMed were searched. The primary outcome was financial burden among cancer patients and their families in Australia. The secondary outcome was out-of-pocket costs associated with cancer care and treatment within the population sample, and the impact of financial burden. (3) Results: Nineteen studies were included, covering more than 70,000 Australians affected by cancer. Out-of-pocket costs varied by cancer type and ranged from an average of AUD 977 for breast cancer and lymphoedema patients to AUD 11,077 for prostate cancer patients. Younger aged patients (≤65 years), Aboriginal and Torres Strait Islander people, people in rural and/or remote areas, households with low income, those who were unemployed and people with private health insurance were at increased risk of experiencing out-of-pocket costs, financial burden or a combination of both. (4) Conclusions: Australians diagnosed with cancer frequently experience financial burden, and the health and financial consequences are significant. Focusing efforts on the costs of care and options about where to have care within the context of informed decisions about cancer care is necessary.