Journal articles on the topic 'Higher Australia Finance'
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Harrold, Ross. "Evolution of Higher Education Finance in Australia." Higher Education Quarterly 46, no. 4 (October 1992): 321–37. http://dx.doi.org/10.1111/j.1468-2273.1992.tb01606.x.
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Doan, Minh Phuong, Chien-Ting Lin, and Michael Chng. "Higher moments and beta asymmetry: evidence from Australia." Accounting & Finance 54, no. 3 (May 17, 2013): 779–807. http://dx.doi.org/10.1111/acfi.12022.
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Croucher, Gwilym, Zhou Zhong, Kenneth Moore, Jonathan Chew, and Hamish Coates. "Higher education student finance between China and Australia: towards an international political economy analysis." Journal of Higher Education Policy and Management 41, no. 6 (June 12, 2019): 585–99. http://dx.doi.org/10.1080/1360080x.2019.1627066.
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Kent, Pamela, Richard Anthony Kent, James Routledge, and Jenny Stewart. "Choice of governance structure and earnings quality." Accounting Research Journal 29, no. 4 (November 7, 2016): 372–90. http://dx.doi.org/10.1108/arj-06-2014-0056.
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Purpose The purpose of this paper is to examine the effectiveness of voluntary governance mechanisms in Australia. Design/methodology/approach This study identifies similar choices of corporate governance by Australian firms and tests the effectiveness of the choices made based on the earnings quality of reported firms. Cluster analysis is conducted using governance best practice variables, firm size and an earnings quality variable. Findings This paper’s results support the voluntary governance approach for smaller firms, but suggest that mandatory governance requirements could be beneficial for larger firms. Evidence suggests that a benefit accrues for larger firms with the adoption of governance best practice. Cluster analysis indicates that larger firms tend to exhibit higher levels of adoption of governance best practice than smaller firms. Originality/value This paper adds to the literature by providing important information regarding the suitability of adoption of voluntary governance mechanisms in Australia.
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Sharpham, John. "Managing the transition to mass higher education in Australia." Long Range Planning 26, no. 2 (April 1993): 51–58. http://dx.doi.org/10.1016/0024-6301(93)90135-3.
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Craswell, Allen T., and Jere R. Francis. "Pricing Initial Audit Engagements: A Test of Competing Theories." Accounting Review 74, no. 2 (April 1, 1999): 201–16. http://dx.doi.org/10.2308/accr.1999.74.2.201.
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Two competing theories of initial engagement audit pricing are examined empirically. DeAngelo's (1981a) model predicts initial engagement discounts in all settings, while Dye's (1991) model specifically predicts discounting will not occur in settings where audit fees are publicly disclosed. Unlike the United States and most countries, audit fees are publicly disclosed in Australia. Our study examines initial engagement pricing in Australia during a time period when comparable U.S. studies report discounts of 25 percent (Ettredge and Greenberg 1990; Simon and Francis 1988). The Australian evidence finds initial engagement discounting only for upgrades from non-Big 8 to Big 8 auditors. Discounting for upgrades to Big 8 auditors is consistent with economic theories of discount pricing by sellers of higher-priced, higher-quality experience goods as an inducement to purchase when uncertainty about product quality is resolved through buying (experiencing) the goods. The evidence in our study is generally consistent with Dye's (1991) conclusion that public disclosure of audit fees precludes initial engagement discounting and the potential independence problems arising from such discounting.
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Miah, Muhammad Shahin, Haiyan Jiang, Asheq Rahman, and Warwick Stent. "Audit effort, materiality and audit fees: evidence from the adoption of IFRS in Australia." Accounting Research Journal 33, no. 1 (January 2, 2020): 186–216. http://dx.doi.org/10.1108/arj-06-2018-0103.
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Purpose This paper aims to investigate the association between International Financial Reporting Standards (IFRS) effort due to higher levels of material adjustments and audit fees. In addition, this paper tests whether these associations differ between industry specialist auditors and non-specialist auditors. Design/methodology/approach The authors measure IFRS effort by using differences between local GAAP and IFRS. More specifically, they measure the differences in the balances of accounts that are prepared under IFRS as opposed to the previously used Australian Accounting Standards Board (AASB) standards. They posit that higher material adjustments and more risk to fair presentation of financial statements require additional accounting and auditing effort (“IFRS effort”). Findings The authors find that audit fees are higher when accounting standards are more material and complex at an aggregate level. Nevertheless, not all standards are equally complex and/or material and not all individual standards contribute to higher audit fees. In addition, the results show that the positive association between IFRS effort and audit fees is more pronounced when firms are audited by city-level industry specialists than by non-industry specialists. Originality/value Overall, the results are consistent with the prediction of increasing audit fees for firms requiring higher levels of IFRS effort compared to firms requiring lower levels of IFRS effort. The results contribute to the understanding that not all IFRS are equally complex and, thereby, the standards require different levels of auditor effort. Isolating specific standards based on materiality/risk levels is informative to standard setters for standard setting, standard implementation and post-implementation review of standards.
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Westcott, Mark. "Women specialist managers in Australia – Where are we now? Where to next?" Journal of Industrial Relations 63, no. 4 (March 31, 2021): 501–21. http://dx.doi.org/10.1177/00221856211001913.
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Management as an occupation has become increasingly feminised in Australia over the last two decades. This article focuses specifically on specialist managers, answering the question of where we are now in terms of gender equity. It charts the increasing but uneven growth of women’s employment among specialist management occupations. Women remain concentrated into a relatively small number of management specialisations and it is argued that there is a gendering of certain management roles which is reflected in the value attached to these roles. Using data sourced from the Australian Tax Office, the article shows that men earn higher income across all specialist management groups, including those that are highly feminised, and higher salary across all specialisations excepting one – childcare directors. Evidence is presented detailing the relativities between management specialisations, showing a variation between men and women in terms of rank. Women are much less valued in some management specialisations, such as finance. Men are much less valued in others, such as childcare. The article concludes by speculating how greater gender equity can be achieved among specialist managers but observes that ‘management’ and ‘male’ are still tightly connected.
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Mikelionyte, M., and A. Lezgovko. "HOW FEMALE DIFFER IN DECISION MAKING FOR PERSONAL INVESTMENT STRATEGY." Financial and credit activity problems of theory and practice 5, no. 40 (November 8, 2021): 92–98. http://dx.doi.org/10.18371/fcaptp.v5i40.244902.
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Abstract. This study investigates Lithuanian females’ personal investment peculiarities in line with Australia’s case analysis and application as a good practice method. Based on many publicly available research females tend to have less knowledge about finances in general and particularly investment processes; hence, it leads to their lack of interest into investing and the possibility of poor money management. This issue might be solved by investigating why it appears first and adopting the practical example from countries with developed investment market. In the case of comparison of personal investment strategies among Lithuanian and Australian females the two sets of questionnaires have been used to collect the data for further analysis. The main findings revealed by the survey were, that women in Australia had a higher financial literacy level, invested more often, and chose broader variety of investment instruments compared to Lithuanian females. Moreover, the significant discovery of the article disclosed that Lithuanian females chose not to invest due to the lack of additional funds and the shortage of financial knowledge. The main limitation occurred during the research was the lack of the available data on personal investment topic in Lithuania’s official statistic sources such as The Lithuanian Department of Statistics. The results of the research contribute towards improving Lithuanian female personal finance and investment areas and could be applied to further studies or used for the education program dedicated to financial literacy among women in Lithuania creation. Furthermore, this article creates an original value to personal finance, investment, and financial literacy areas in Lithuania by introducing an idea to not only conduct more studies in these fields, but also to use comparative analysis and good practice method from the countries that demonstrates high achievements in personal finance and gender equality areas. Keywords: personal investment management, female investment, financial literacy, investor’s profile, investing, investment options, investment strategies. JEL Classification G51, G53 Formulas: 1; fig.: 5; tabl.: 1; bibl.: 15.
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Doan, Minh Phuong, and Chien-Ting Lin. "On the robustness of higher-moment factors in explaining average expected returns: Evidence from Australia." Research in International Business and Finance 26, no. 1 (January 2012): 67–78. http://dx.doi.org/10.1016/j.ribaf.2011.06.001.
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Yaftian, Ali, Soheila Mirshekary, and Dessalegn Getie Mihret. "Learning commercial computerised accounting programmes." Accounting Research Journal 30, no. 3 (September 4, 2017): 312–32. http://dx.doi.org/10.1108/arj-08-2015-0107.
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Purpose Practical accountving skills such as the ability to use commercial computerised accounting programmes (CCAP) is increasingly becoming expected of accounting graduates. To understand the impact of CCAP on learning, this paper aims to examine students’ motivations for and perceptions about learning CCAP in two accounting subjects trialled in an Australian university. Design/methodology/approach A survey of students who completed the course was conducted twice, before training and assessment using CCAP and after completing the CCAP-based learning activity and the associated assessment task. Findings The results show that students demonstrate strong positive attitudes towards learning CCAP, and using CCAP elicits active student engagement in the learning processes. The findings also show room for further enhancement of student engagement by integrating CCAP learning tasks with teamwork and developing CCAP-based learning and assessment tasks suitable for higher-order learning outcomes. Research limitations/implications The survey respondents in this study are drawn from only one higher education institution in Australia and are predominantly an international cohort. This makes the conclusions of the study exploratory in nature and thus further studies are needed before generalising the conclusions. Originality/value By providing insights into student motivations to and perceptions about the use of CCAP in accounting curricula, the study sheds light on the potential of CCAP to enhance learning and aspects of consolidating the role of CCAP as a learning tool.
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Lauchs, Mark, and Rebecca Keane. "An analysis of the Australian illicit tobacco market." Journal of Financial Crime 24, no. 1 (January 3, 2017): 35–47. http://dx.doi.org/10.1108/jfc-10-2015-0056.
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Purpose This paper aims to provide an overview of the illicit tobacco market in Australia. It attempts to build a picture of the sources of demand, size of the market and methods of supply. Design/methodology/approach This paper is based on collation of disparate government reports, industry research, media and court documents. It is a preliminary paper in the absence of better source data. Findings The market is driven by the extremely high tax on tobacco in Australia. Australia’s geography emphasises on large shipments from overseas rather than small-scale smuggling. The likely market is for migrant communities with much higher smoker rates than in the mainstream community. Research limitations/implications It is not yet possible to conduct a well-focused research because of limited official documentation. Practical implications Few government agencies focus on tobacco smuggling, and there are no publications providing a strategic picture of the illicit market. This paper fills this gap by collating multiple sources to produce a market profile. Social implications The Australian Government loses $1bn per year in tobacco tax because of smuggling. The illicit supply also means that the social goal of the tax, namely, dissuading tobacco consumption, is undermined. Originality/value There are no academic or government publications describing the Australian illicit tobacco market. The only publications are based on research funded by the tobacco industry, which has a vested interest in overstating the size of the illicit market.
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Bryant, Gareth, and Ben Spies-Butcher. "Bringing finance inside the state: How income-contingent loans blur the boundaries between debt and tax." Environment and Planning A: Economy and Space 52, no. 1 (March 16, 2018): 111–29. http://dx.doi.org/10.1177/0308518x18764119.
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Income-contingent loans are increasingly used by governments around the world to finance the costs of higher education. We use the case of income-contingent loans to explore how states are bringing the architecture of financial markets inside the state, disrupting conventional understandings of marketisation that are linked to concepts of commodification. We argue that income-contingent loans are hybrid policy instruments that combine elements of a state-instituted tax and a market-negotiated debt. We understand this hybrid construction in terms of the actors and mechanisms characteristic of what Polanyi identified in patterns of ‘redistribution’ and ‘exchange’. We then follow the contested mutations of income-contingent loans in Australia, England and the United States along three axes of hybridity that produce a variegated landscape of higher education finance: determining debt, charging interest and enforcing repayment. Our analysis reveals how, as processes of marketisation internalise financial ways of calculating and organising, states are blurring the boundaries between debts and taxes, redirecting political contestation over commodification.
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Lee, Chyi Lin. "An examination of the risk-return relation in the Australian housing market." International Journal of Housing Markets and Analysis 10, no. 3 (June 5, 2017): 431–49. http://dx.doi.org/10.1108/ijhma-07-2016-0052.
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Purpose Extensive studies have investigated the relation between risk and return in the stock and major asset markets, whereas little studies have been done for housing, particularly the Australian housing market. This study aims to determine the relationship between housing risk and housing return in Australia. Design/methodology/approach The analysis of this study involves two stages. The first stage is to estimate the presence of volatility clustering effects. Thereafter, the relation between risk and return in the Australian housing market is assessed by using a component generalised autoregressive conditional heteroscedasticity-in-mean (C-CARCH-M) model. Findings The empirical results show that there is a strong positive risk-return relationship in all Australian housing markets. Specifically, comparable results are also evident in all housing markets in various Australian capital cities, reflecting that Australian home buyers, in general, are risk reverse and require a premium for higher risk level. This could be attributed the unique characteristics of the Australian housing market. In addition, there is evidence to suggest that a stronger volatility clustering effect than previously documented in the daily case. Practical implications The findings enable more informed and practical investment decision-making regarding the relation between housing return and housing risk. Originality/value This paper is the first study to offer empirical evidence of the risk-return relationship in the Australian housing market. Besides, this is the first housing price volatility study that utilizes daily data.
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Klumpes, Paul J. M. "Incentives Facing Life Insurance Firms to Report Actuarial Earnings: Evidence from Australia and the UK." Journal of Accounting, Auditing & Finance 17, no. 3 (July 2002): 237–56. http://dx.doi.org/10.1177/0148558x0201700303.
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During the 1990s, Australian and UK life industry professionals encouraged life insurance companies to provide investors with supplementary financial statements that incorporate the present value of actuarially calculated (“embedded value”) earnings (“PVAE”). However, these reporting practices have subsequently been criticized for potentially misleading investors and for failing to meet the definition of a recognizable asset. The propensity of proprietary UK and Australian life insurers to voluntarily report their PVAE is predicted to be driven by their desire to provide information to investors about their future profit expectations. The empirical tests are based on a sample of 67 Australian and UK proprietary and mutual firms. Consistent with the hypothesis, proprietary firms voluntarily reporting PVAE tend to have relatively higher future profit expectations than nondisclosing firms. These findings have implications for ongoing efforts to develop internationally harmonized financial reporting standards for life insurance companies.
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Kerr, Rhonda, and Delia V. Hendrie. "Is capital investment in Australian hospitals effectively funding patient access to efficient public hospital care?" Australian Health Review 42, no. 5 (2018): 501. http://dx.doi.org/10.1071/ah17231.
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Objective This study asks ‘Is capital investment in Australian public hospitals effectively funding patient access to efficient hospital care?’ Methods The study drew information from semistructured interviews with senior health infrastructure officials, literature reviews and World Health Organization (WHO) reports. To identify which systems most effectively fund patient access to efficient hospitals, capital allocation systems for 17 Organisation for Economic Cooperation and Development (OECD) countries were assessed. Results Australian government objectives (equitable access to clinically appropriate, efficient, sustainable, innovative, patient-based) for acute health services are not directly addressed within Australian capital allocation systems for hospitals. Instead, Australia retains a prioritised hospital investment system for institutionally based asset replacement and capital planning, aligned with budgetary and political priorities. Australian systems of capital allocation for public hospitals were found not to match health system objectives for allocative, productive and dynamic efficiency. Australia scored below average in funding patient access to efficient hospitals. The OECD countries most effectively funding patient access to efficient hospital care have transitioned to diagnosis-related group (DRG) aligned capital funding. Measures of effective capital allocation for hospitals, patient access and efficiency found mixed government–private–public partnerships performed poorly with inferior access to capital than DRG-aligned systems, with the worst performing systems based on private finance. Conclusion Australian capital allocation systems for hospitals do not meet Australian government standards for the health system. Transition to a diagnosis-based system of capital allocation would align capital allocation with government standards and has been found to improve patient access to efficient hospital care. What is known about the topic? Very little is known about the effectiveness of Australian capital allocation for public hospitals. In Australia, capital is rarely discussed in the context of efficiency, although poor built capital and inappropriate technologies are acknowledged as limitations to improving efficiency. Capital allocated for public hospitals by state and territory is no longer reported by Australian Institute of Health and Welfare due to problems with data reliability. International comparative reviews of capital funding for hospitals have not included Australia. Most comparative efficiency reviews for health avoid considering capital allocation. The national review of hospitals found capital allocation information makes it difficult to determine ’if we have it right’ in terms of investment for health services. Problems with capital allocation systems for public hospitals have been identified within state-based reviews of health service delivery. The Productivity Commission was unable to identify the cost of capital used in treating patients in Australian public hospitals. Instead, building and equipment depreciation plus the user cost of capital (or the cost of using the money invested in the asset) are used to estimate the cost of capital required for patient care, despite concerns about accuracy and comparability. What does this paper add? This is the first study to review capital allocation systems for Australian public hospitals, to evaluate those systems against the contemporary objectives of the health systems and to assess whether prevailing Australian allocation systems deliver funds to facilitate patient access to efficient hospital care. This is the first study to evaluate Australian hospital capital allocation and efficiency. It compares the objectives of the Australian public hospitals system (for universal access to patient-centred, efficient and effective health care) against a range of capital funding mechanisms used in comparable health systems. It is also the first comparative review of international capital funding systems to include Australia. What are the implications for practitioners? Clinical quality and operational efficiency in hospitals require access for all patients to technologically appropriate hospitals. Funding for appropriate public hospital facilities, medical equipment and information and communications technology is not connected to activity-based funding in Australia. This study examines how capital can most effectively be allocated to provide patient access to efficient hospital care for Australian public hospitals. Capital investment for hospitals that is patient based, rather than institutionally focused, aligns with higher efficiency.
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Jha, Nikhil, and Cain Polidano. "Long-Run Effects of Catholic Schooling on Wages." B.E. Journal of Economic Analysis & Policy 15, no. 4 (October 1, 2015): 2017–45. http://dx.doi.org/10.1515/bejeap-2014-0108.
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Abstract Previous studies have linked Catholic schooling to higher academic achievement. We add to the literature on Catholic schooling by examining its effect on long-term wages in Australia, independent of effects on academic achievement. Using panel data from the Household Income and Labour Dynamics Australia (HILDA) survey and fixed effects estimation, we find that during the prime-age of a career, wages for Catholic school graduates progress with labor market experience at a greater rate, on average, than wages for public school graduates. Importantly, we find no evidence to suggest that these benefits are peculiar to Catholic schooling, with similar benefits estimated for graduates of independent private schools. These findings suggest that private schooling may be important in not only fostering higher academic achievement but also in better preparing students for a working life.
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Deutscher, Nathan. "Place, Peers, and the Teenage Years: Long-Run Neighborhood Effects in Australia." American Economic Journal: Applied Economics 12, no. 2 (April 1, 2020): 220–49. http://dx.doi.org/10.1257/app.20180329.
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I use variation in the age at which children move to show that where an Australian child grows up has a causal effect on their adult income, education, marriage, and fertility. In doing so, I replicate the findings of Chetty and Hendren (2018a) in a country with less inequality, more social mobility, and different institutions. Across all outcomes, place typically matters most during the teenage years. Finally, I provide suggestive evidence of peer effects using cross-cohort variation in the peers of permanent postcode residents: those born into a richer cohort for their postcode tend to end up with higher incomes themselves. (JEL D63, J13, J62, R23, Z13)
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Haman, Janto, Keryn Chalmers, and Victor Fang. "The Effects of IPO Mandatory Lockups and Corporate Governance on Underpricing: Evidence From the Australian Securities Exchange." Journal of Accounting, Auditing & Finance 35, no. 4 (May 7, 2019): 854–69. http://dx.doi.org/10.1177/0148558x19846754.
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In Australia, initial public offering (IPO) firms not satisfying profit or asset tests are permitted to list on the securities exchange with mandatory lockups (MLs) imposed on insiders’ shares. We investigate whether such lockups, and the lockup periods, are associated with underpricing. We find that the incremental effect of the association between longer ML periods and higher underpricing is stronger for firms with higher insiders’ equity ownership subject to MLs relative to firms with lower insiders’ equity ownership subject to MLs. This suggests that the extent and length of insiders’ equity ownership subject to MLs convey information regarding IPO firms’ risk. We also find that good corporate governance reduces IPO underpricing for firms with MLs. It moderates the IPO underpricing for firms with higher and longer insiders’ equity ownership subject to MLs. Our findings are informative for regulators in understanding how MLs can assist in allowing smaller and younger firms with inadequate financial strength and performance to publicly raise equity capital, while morally protecting investors and preserving market integrity.
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Hayler, Raymond R., Arushi Singh, Selwyn T. Selvendran, and Mary E. Langcake. "Surviving against the odds: outcomes of emergency resuscitative thoracotomies at an Australian level 1 trauma centre." International Surgery Journal 10, no. 1 (December 30, 2022): 6. http://dx.doi.org/10.18203/2349-2902.isj20223585.
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Background: Emergency resuscitative thoracotomy (ERT) is performed in thoracic trauma patients who present in extremis. Newer studies outside North America report higher survival rates, however literature from Australia is limited. This study reviews 12 years of ERT outcomes from an Australian level 1 trauma centre and whether trauma triage mechanisms may impact survival ratesMethods: A retrospective observational study using data from the trauma registry at St. George hospital Sydney for all who underwent an ERT between 2009 and 2021, supplemented with information from medical records. Parameters examined included demographics, injury profile, ERT details and outcomes. Data was then analysed by descriptive statisticsResults: The 29 ERTs were performed of which 25 were male (85%) and 4 were female (14%). Mean age was 40 and mean injury severity score (ISS) was 32. Overall, 13 patients survived after ERT (45%), with 10 patients surviving admission post ERT for penetrating injuries (53%), compared to 3 surviving admissions for blunt injuries (27%). The 82% of ERTs were performed in the operating theatre (OT), with survival rates the highest when ERT was performed in OT by the cardiothoracic surgical teamConclusions: In this study, ERT conferred good outcome with survival in almost half of patients. More studies are required to establish whether triage mechanisms which facilitate early transfer to OT confer higher survival in ERT patients.
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Ranasinghe, Rasika. "The Transmission of Education across Generations: Evidence from Australia." B.E. Journal of Economic Analysis & Policy 15, no. 4 (October 1, 2015): 1893–917. http://dx.doi.org/10.1515/bejeap-2014-0139.
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Abstract This study analyzes changes in the transmission of education across generations in Australia for the birth cohorts 1942 through 1991 using a range of measures: the estimated effect of parental education on that of the child, schooling correlations between parents and children and a series of mobility indices. Our results suggest that while the overall level of education and intergenerational education mobility has increased over time, there are considerable regional and gender differences. Daughters’ education attainment is still relatively highly correlated with their parents compared to sons and the extent of absolute upward mobility was modest while immobility and downward mobility have remained relatively steady during the last five decades. During this period, relative education opportunities have increased over time at lower education levels, while the trend has been comparatively stable at higher levels.
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Ferguson, Andrew, Gabriel Pündrich, and Adrian Raftery. "Auditor Industry Specialization, Service Bundling, and Partner Effects in a Mining-Dominated City." AUDITING: A Journal of Practice & Theory 33, no. 3 (August 1, 2014): 153–80. http://dx.doi.org/10.2308/ajpt-50728.
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SUMMARY: This study examines auditor industry specialization effects in Perth, a remote mining town in Australia characterized by a large number of small, homogeneous firms. We consider the impact of leadership by the non-Big 4 auditor BDO Kendalls (BDO) for a sample of 371 mining development stage entities (MDSEs). After controlling for factors known to determine audit fees, we find no evidence of auditor industry leadership fee premiums accruing to BDO, a result robust to a range of sensitivity tests including the broadening of tests Australia-wide. However, when the dependent variable is redefined to the total “bundle” of services provided by the audit firm (including audit and non-audit fees), the industry leader is shown to earn a fee premium suggesting BDO uses audits as a conduit to supply higher-margin non-audit services. Our findings suggest that strategic pricing by industry leaders may not be confined to Big 4 firms.
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Flynn, Kathryn. "Financial fraud in the private health insurance sector in Australia." Journal of Financial Crime 23, no. 1 (December 31, 2015): 143–58. http://dx.doi.org/10.1108/jfc-06-2014-0032.
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Purpose – The purpose of this article is to explore financial fraud in the private health insurance sector in Australia. Fraud in this sector has commonalities to other countries with similar health systems but in Australia it has garnered some unique characteristics. This article sheds light on these features, especially the fraught relationship between the private health funds and the public health insurance agency, Medicare and the problematic impact of the Privacy Act on fraud detection and financial recovery. Design/methodology/approach – A qualitative methodological approach was used, and interviews were conducted with fraud managers from Australia’s largest private health insurance funds and experts in fields connected to health fraud detection. Findings – All funds reported a need for more technological resources and higher staffing levels to manage fraud. Inadequate resourcing has the predictable outcome of a low detection and recovery rate. The fund managers had differing approaches to recovery action and this ranged from police action, the use of debt recovery agencies, to derecognition from the health fund. As for present and future harm to the industry, the funds found on-line claiming platforms a major threat to the integrity of their insurance system. In addition, they all viewed the Privacy Act as an impediment to managing fraud against their organizations and they desired that there be greater information sharing between themselves and Medicare. Originality/value – This paper contributes to the knowledge of financial fraud in the private health insurance sector in Australia.
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Halili, Enver, Ali Salman Saleh, and Rami Zeitun. "Governance and long-term operating performance of family and non-family firms in Australia." Studies in Economics and Finance 32, no. 4 (October 5, 2015): 398–421. http://dx.doi.org/10.1108/sef-02-2014-0034.
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Purpose – The purpose of this study is to conduct a comparative analysis of the long-term operating performance of family and non-family firms from the agency theoretic perspective. The analysis is focused on investigating the impact of family ownership on principal–agent conflicts of interest. Design/methodology/approach – This paper examines the relationship between firm operating performance and family ownership for a large sample of 677 Australian-listed companies. The paper uses the Generalised Method of Moments (GMM) estimator model developed by Arellano and Bond (1991) and used by other studies in finance (Baltagi, 2012; Bond, 2002; Mohamed et al., 2008). Findings – The empirical results show that firms with ownership concentration has a better operating performance due to the alignment of owner-management interests. This study also finds that family-listed companies have higher survival rates and perform better than non-family companies. Findings support the hypothesis that agency costs arise as a result of privileged access of information and self-interest behaviour of managers (outsiders) in firms with dispersed ownership structures. Originality/value – Earlier studies have only focused on short-term perspectives, particularly investigating small and medium types of Australian family businesses from narrow aspects, such as productivity, business behaviour, capital structure and leverage. Therefore, this paper has conducted a comparative examination of family and non-family firms listed on the Australian Stock Exchange (ASX) to identify the impact of agency costs on their financial performance.
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Purves, Nigel, and Scott J. Niblock. "Predictors of corporate survival in the US and Australia: an exploratory case study." Journal of Strategy and Management 11, no. 3 (August 20, 2018): 351–70. http://dx.doi.org/10.1108/jsma-06-2017-0044.
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Purpose The purpose of this paper is to investigate the relationship of financial ratios and non-financial factors of successful and failed corporations in the USA. Specifically, the authors provide evidence on whether financial ratios and non-financial factors can be jointly included as indicators to improve the predictive capacity of organisational success or failure in different countries and sectors. Design/methodology/approach The paper utilises a mixed method exploratory case study focussing on listed corporations in the US and Australian manufacturing, agriculture, finance and property sectors. Findings The financial ratio findings demonstrate that (with the exception of the failed Australian manufacturing sector) the integrated multi-measure (IMM) ratio approach consistently provides a higher classification rate for the failed and successful groups than those provided by an individual measure. In all cases the IMM method scored higher for US companies (with the exception of the failed Australian property sector). The findings also show that irrespective of the country location or sector, non-financial factors such as board composition and managements’ involvement in organisational strategy impact on a corporation’s success or failure. Practical implications The findings reveal that non-financial factors occur prior to financial ratios when attempting to predict organisational success or failure and the IMM approach enables a more thorough examination of the predictive ability of financial ratios for US and Australian organisations. This intuitively indicates that when combined with financial ratios, non-financial factors may be a useful predictor of corporate success or failure across countries and sectors. Originality/value Sound internal processes and the identification of both financial ratios and non-financial factors can be utilised to improve the reliability of financial failure models, enable corrective and preventative steps to be implemented by management and potentially reduce the costs of failure for US and Australian organisations.
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Ji, Xu-Dong, and Wei Lu. "The value relevance and reliability of intangible assets." Asian Review of Accounting 22, no. 3 (August 26, 2014): 182–216. http://dx.doi.org/10.1108/ara-10-2013-0064.
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Purpose – The purpose of this paper is to examine the value relevance of intangible assets, including goodwill and other types of intangibles in the pre- and post-adoption periods of International Financial Reporting Standards (IFRS). Most importantly, this paper investigates whether the value relevance of reported intangible assets is associated with their value reliability. Furthermore, this paper reports whether the adoption of IFRS improves the value relevance of intangible assets and alters the relationship between value relevance and reliability. Design/methodology/approach – Both price and return models based on Ohlosn theory (1995) are employed to test the value relevance and value reliability of intangibles. Australian-listed firms with capitalised intangibles from 2001 to 2009 are selected in this study. The sample includes 6,650 firm-year observations. Findings – The main result shows that capitalised intangible assets are value relevant in Australia, in both the pre- and post-adoption of IFRS periods. Value relevance is higher in firms with more reliable information on intangible assets. This study finds that the value relevance of intangibles has declined in the post-adoption period of IFRS. However, the positive relationship between the value relevance and the reliability of intangibles has remained unchanged in the post-adoption period. Originality/value – The paper contributes a new measurement of value reliability of accounting information about intangibles. This paper is one of few studies on the relationship between value relevance and reliability of intangible assets. The results show that value relevance is positively associated with value reliability. This suggests that, when accounting standard setters assess whether the existing IFRS of intangibles should be improved in the future, they need to think not only in terms of whether the standard can provide more relevant information of intangibles to investors but also whether the standard can make the information of intangibles more reliable.
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Cheong, Tsun Se, and Jing Li. "Transitional distribution dynamics of housing affordability in Australia, Canada and USA." International Journal of Housing Markets and Analysis 11, no. 1 (February 5, 2018): 204–22. http://dx.doi.org/10.1108/ijhma-01-2017-0003.
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Purpose The main purpose of this paper is to explore the transitional dynamics of housing affordability indicators of major cities in three developed countries: the USA, Canada and Australia, in the period after the global financial crisis. As the global housing markets are more interconnected today, it is essential to investigate the demographic movement pattern and their impacts on housing market dynamics. Design/methodology/approach Based on the Markov transition matrix approach and the stochastic kernel technique, a newly established framework named the mobility probability plot (MPP) is adopted to investigate the city-level trends of housing affordability in the three countries during the period 2008-2015. Findings The results suggest that the transitional dynamics of the USA’s housing affordability trend saliently differs from those of Canada and Australia: in the USA, MPP results reveal that when the price-to-income (P/I) ratio is higher than 3.5 times, it has a high tendency of moving downward in the next period. In Australia, housing affordability tends to continue deteriorating when the P/I ratios are in the range from 8.0 to 8.6. In Canada, the MPP analysis indicates that the P/I ratios tend to increase further when the ratios are between 5.7 and 7.0, and within the range of 8.3-9.5. Originality/value This paper adopts an innovative approach to explore the city-level trends of housing affordability in the three developed countries during the period 2008-2015. The distribution dynamics approach has several virtues: first, this approach does not merely focus on the issue of housing affordability but also includes an analysis of the underlying housing affordability distribution. Second, it can clearly show the mobility of the city-level units in terms of the P/I change. Third, it can predict the proportion of the entities in different P/I ratio bands in a number of years ahead and even in the long run.
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Nguyen, Pascal, Nahid Rahman, and Ruoyun Zhao. "Returns to acquirers of listed and unlisted targets: an empirical study of Australian bidders." Studies in Economics and Finance 34, no. 1 (March 6, 2017): 24–48. http://dx.doi.org/10.1108/sef-10-2015-0234.
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Purpose This paper aims to evaluate the robustness of the listing effect in Australia, that is whether acquisitions of private firms create more value to the bidding firm’s shareholders than acquisitions of publicly listed firms. Design/methodology/approach The authors analyze the market reaction to the announcement of takeover bids initiated by Australian public firms on private and public targets over the period 1990-2011. The analysis controls for a wide range of bidder, deal and target country characteristics that are likely to correlate with the target’s listing status and acquirer abnormal returns. The authors also use a selection model to address the endogenous choice of the target’s listing status. Findings The results indicate that bidders experience significantly higher abnormal returns of about 1.7 per cent in the 11-day event window when the target is a private firm. The authors show that this result is broad-based and persistent. It does not appear to depend on whether the target is small or large; whether it is related or unrelated to the bidder’s industry; whether it is in the resources sector; and whether the transaction is domestic or cross-border. They find some evidence that bidder returns might be stronger for larger acquisitions, for unrelated targets, and in poor market conditions such as in the wake of the recent global financial crisis. Research limitations/implications The research would benefit from the inclusion of the bidding firm’s ownership and governance characteristics. Practical implications The results support the view that market frictions contribute to make private firms attractive targets. Originality/value The analysis confirms the pervasiveness of the listing effect in a market characterized by a lesser degree of competition, higher search costs and the significance of the natural resources sector.
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Khurana, Inder K., and K. K. Raman. "Litigation Risk and the Financial Reporting Credibility of Big 4 versus Non-Big 4 Audits: Evidence from Anglo-American Countries." Accounting Review 79, no. 2 (April 1, 2004): 473–95. http://dx.doi.org/10.2308/accr.2004.79.2.473.
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Prior research suggests that Big 4 auditors provide higher quality audits in the U.S. in order to protect the firm's brand name reputation and to avoid costly litigation. In this study, we examine whether the perceived higher quality of a Big 4 audit is related to auditor litigation exposure or to reputation concerns. Specifically, we utilize an estimable proxy for financial reporting credibility—the ex ante cost of equity capital—to examine whether Big 4 auditors are perceived as providing higher quality audits (relative to non-Big 4 auditors) in the U.S., and in the less litigious (but economically similar) environments in other Anglo-American countries during the 1990–99 period. We find that a Big 4 audit is associated with a lower ex ante cost of equity capital for auditees in the U.S. but not in Australia, Canada, or the U.K. Our findings suggest that it is litigation exposure rather than brand name reputation protection that drives perceived audit quality.
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Fan, Elliott, and Pushkar Maitra. "Women Rule: Preferences and Fertility in Australian Households." B.E. Journal of Economic Analysis & Policy 13, no. 1 (April 24, 2013): 1–30. http://dx.doi.org/10.1515/bejeap-2012-0021.
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Abstract Using a unique dataset from Australia, we investigate how individual fertility preferences translate into fertility realizations. We find consistent evidence that the wife’s preference is more important than the husband’s preference in predicting subsequent births, no matter whether her initial fertility desire is higher or lower than that of her partner. We also explore the effects of the introduction of the non-means-tested Baby Bonus introduced in 2004 by testing whether the hypothesis that the cash transfers from the scheme increase the bargaining power of the partner with higher fertility desire, thus leading to an increase in fertility for couples with disagreement on fertility plans. Our findings do not support this hypothesis. They also do not suggest any significant fertility-enhancing effect of the scheme.
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Kim, Sarah, and Noel Harding. "The Effect of a Superior's Perceived Expertise on the Predecisional Distortion of Evidence by Auditors." AUDITING: A Journal of Practice & Theory 36, no. 1 (June 1, 2016): 109–27. http://dx.doi.org/10.2308/ajpt-51508.
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SUMMARY Auditors have been shown to predecisionally distort the interpretation of evidence in a direction that favors the known preferences of their superior. This has the potential to adversely influence audit quality by threatening the objectivity with which evidence is evaluated. We, however, find results consistent with auditors perceiving their superior's known preference to be conveying normatively relevant information. Our results show, across both auditors from Australia and South Korea, that there are greater levels of predecisional distortion toward a preference held by a superior perceived to have relatively higher levels of expertise than toward a preference held by a superior perceived to have relatively lower levels of expertise. To the extent that auditors accurately perceive their superior's expertise, predecisional distortion of evidence may contribute to, rather than detract from, audit quality. Notwithstanding the potential for differences in hierarchical culture to influence the way in which auditors respond to the known preferences of their superior, our findings are consistent across auditors from Australia and South Korea. This suggests that the perceived expertise of the superior reduces the effect of hierarchical culture on the influence that a superior's known preference has on their subordinate's judgments. Data Availability: Contact the authors.
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Tan, Qile, William Dimovski, and Victor Fang. "The Underpricing of Infrastructure IPOs: Evidence from China." Review of Pacific Basin Financial Markets and Policies 18, no. 04 (December 2015): 1550025. http://dx.doi.org/10.1142/s0219091515500253.
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This study investigates the underpricing of 135 infrastructure IPOs in China from 1996 to 2012. It follows infrastructure IPO studies in Australia and India which report average underpricing returns to subscribers of 3.5% and 25.4%, respectively. The average underpricing return for Chinese infrastructure IPOs is substantially higher at 86.3%, but interestingly substantially lower than the underpricing of Chinese IPOs generally. The issue size, government ownership and the pre-IPO earnings per share are helpful in explaining the underpricing of Chinese infrastructure IPOs while the underwriter reputation does not appear to have much explanatory power. In addition, we find the underpricing of infrastructure IPOs in China is also affected by its local GDP levels.
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Jayawardena, Nirodha Imali, Akihiro Omura, and Bin Li. "The early bird and the late bird: which catches more worms in Australia?" International Journal of Managerial Finance 15, no. 4 (August 5, 2019): 658–68. http://dx.doi.org/10.1108/ijmf-06-2018-0184.
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Purpose The purpose of this paper is to examine what the optimal time is in a typical trading day for investors to buy/sell stocks in the Australian stock market. Design/methodology/approach The study mainly focuses on the S&P/ASX200. Each trading day, between 10:00 a.m. and 4:00 p.m., is divided into 30-min blocks. The effectiveness of easily implementable trading strategy to purchase the index in the morning and sell at the close is tested. The study controls for the excess overnight price volatility to improve the effectiveness of the investment strategy. This trading strategy is compared against other 66 possible day-trading combinations. Findings The results show that the trading strategy of buying in the first 30 min of the trading session and close off the position during the last 30 min obtains higher returns than other 66 strategies. Practical implications The day-trading strategy proposed in this study is very simple and therefore can be easily implemented by investors including individual investors. Originality/value To the best of our knowledge, this is the first study which constructs a trading strategy using the J- or U-shaped intraday return pattern.
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Chandra, Mahendra. "Estimating and Explaining Extreme Comovements in Asia-Pacific Equity Markets." Review of Pacific Basin Financial Markets and Policies 08, no. 01 (March 2005): 53–79. http://dx.doi.org/10.1142/s0219091505000348.
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The correlation structure amongst selected Asia-Pacific equity markets is examined using the Constant Correlation multivariate GARCH (CC-MGARCH) model, the Dynamic Conditional Correlation multivariate GARCH (DCC-MGARCH) model, and an Exponentially-Weighted Moving Average (EWMA) correlation measure. The markets of Australia, Hong Kong, Japan and Singapore are analyzed from 1990 to 2001 and dynamic nature of the correlation is captured and explained. We find that global as well as regional factors contribute to the correlation spikes. Extreme volatility does not necessarily result in extreme correlations between some markets and there is higher comovement between markets since the Asian financial crisis. We also find that despite common periods of high volatility, there is still economic justification for diversification within this region.
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Parker, Lee D., and James Guthrie. "Accounting scholars and journals rating and benchmarking." Accounting, Auditing & Accountability Journal 26, no. 1 (December 28, 2012): 4–15. http://dx.doi.org/10.1108/09513571311293028.
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PurposeThis editorial aims to consider contemporary issues for accounting scholars, in particular journals rating and benchmarking, arguing that current international trends are risking academic research quality.Design/methodology/approachThis paper takes the form of an editorial review and argument.FindingsThe paper acknowledges that accounting academic research is important to the higher education system, careers and publishers. However, its quality and the construction and measurement of the quality of accounting journals and research impact on society continue to be hotly debated.Research limitations/implicationsThe editorial offers scope for accounting academics to engage in debate about the impact of journal rankings and benchmarking on their teaching and research, important issues in higher education, not only in Australia, but also internationally.Originality/valueThe paper provides commentary on the “quality” of accounting research and measurement practices associated with rating and benchmarking academic journals.
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Haider, Imran, Nigar Sultana, Harjinder Singh, and Yeut Hong Tham. "CEO age and analysts forecast properties." Asian Review of Accounting 28, no. 1 (November 11, 2019): 1–23. http://dx.doi.org/10.1108/ara-02-2019-0054.
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Purpose The purpose of this paper is to assess whether there is an association between CEO age and analysts forecast properties (particularly forecast accuracy and bias/optimism). CEOs, having the central role in managing firms, can significantly influence the financial and non-financial decisions in an organisation. Furthermore, having been identified as key culprits in past major accounting scandals, it is also important to identify the CEO characteristics that affect financial reporting decisions. Design/methodology/approach This study adopts the upper echelon theory on the relationship between CEO age and analysts forecast properties. The authors use a sample of 2,730 Australian firm-year observations for the period 2004–2013 drawn from IBES, Connect 4 and SIRCA databases. Findings The authors find that analyst forecast accuracy increases and bias (optimism) reduces with the CEO age. The authors conclude that earnings and related information provided to analysts improves with the CEO age, which increases the forecast accuracy and reduces bias (optimism). Additional results suggest that the positive (negative) effect of CEO age on forecast accuracy (bias) remains until the CEOs reach the age of their retirement age (65 years). The results remain consistent with a number of sensitivity tests and provide implication for stakeholders such as firms, analysts, auditors, financial statements users and regulators. Practical implications The authors demonstrate that the relationship between CEO age and analyst forecast properties is not linear but is, in fact, curvilinear substantiating concerns that CEOs that are much younger or much older do not help increase the quality of the information environment. Consequently, firms hiring CEOs in the right age bracket also benefit by having higher-quality information environment leading possibly to reduce costs such as those relating to debt and/or equity ultimately increasing firm value. Originality/value Empirical studies on the association between CEO age and analysts earnings properties in Australia are scarce and this paper contributes to the determinants of the analysts forecast accuracy and bias (optimism) and the CEO age literature.
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Carroll, David, Jaai Parasnis, and Massimiliano Tani. "Why do women become teachers while men don’t?" B.E. Journal of Economic Analysis & Policy 21, no. 2 (January 22, 2021): 793–823. http://dx.doi.org/10.1515/bejeap-2020-0236.
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Abstract Across countries, almost all primary and pre-primary teachers are women while few men in the occupation tend to specialise in secondary schooling and administration. We investigate the decision to become a teacher versus alternative occupations for graduates in Australia over the past 15 years. We find that this gender distribution reflects relative returns in the labour market: women with bachelor qualifications receive higher returns in teaching, while similarly educated men enjoy substantially higher returns in other occupations. We also find evidence that schools which can, and do, make higher wage offers successfully attract more male teachers as well as more female teachers with a degree in science, technology, engineering, and mathematics. These results are consistent with the predictions of theoretical models of self-selection of intrinsically motivated workers.
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Shams, Aditi. "Does Auditor Industry Specialization Increase Analysts’ Forecast Accuracy? Evidence from the Listed Firms of Australia." Asian Social Science 16, no. 3 (February 27, 2020): 46. http://dx.doi.org/10.5539/ass.v16n3p46.
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This paper examines the relation between auditor industry specialization and analysts’ beginning-of-the-year earnings forecast accuracy. It predicts that the higher industry specialization of the auditors will improve the quality of external financial reports and thus mitigates the analysts’ forecast error. It also predicts that higher audit quality will have a negative association with analyst forecast dispersion. The empirical test results on Australian listed firms from the year 2003 to 2012 does not find evidence of association between audit firm industry specialization and analysts’ beginning-of the year earnings forecast error. However, firms with higher analysts forecast error is associated with lower forecast dispersion among analysts, which is consistent with the prediction that analysts are consistent with predicting future earnings and analysts possess similar traits in terms of difference with the actual earnings. Additional analysis also finds that’s larger firms have less forecast errors compared to smaller firms. The findings contribute to the growing literature on auditing and financial reporting quality in Australian context.
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Egan, Matthew. "Making water count: water accountability change within an Australian university." Accounting, Auditing & Accountability Journal 27, no. 2 (February 7, 2014): 259–82. http://dx.doi.org/10.1108/aaaj-07-2012-01059.
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Purpose – Drought conditions affected an acute water scarcity crisis across large parts of Australia through the late 1990s and into the 2000s. Public policy responses emphasised demand management strategies. This study aims to examine the response to these challenges within a large Australian university from 1999 to 2010. Design/methodology/approach – Case study utilising semi-structured interviews. Findings – Staff empowered to take an emergent approach to issues of social concern, initiated water accountability change focused on water efficiency from 1999, and “water principles” from 2002. A growing network had some success translating and enrolling others over coming years. However into the late 2000s, as drought conditions abated and with a renewed focus on financial control, developments that had not established clear links to core accountability mechanisms eroded. This study demonstrates that measurement is essential to understanding patterns of water usage, but also needs to establish links to core systems of accountability to broadly change behaviour. Practical implications – Higher education continues to be an environment where creative responses to community challenges can be nurtured. Despite increasing pressures to focus on financial outcomes, the sector should continue to nurture opportunities to shape issues of community concern through leading practice. Originality/value – This study provides insight into the development, fragility, and contested meaning of emergent systems of water accountability within the context of a university.
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Huang, Lanxi, Margaret L. Kern, and Lindsay G. Oades. "Experiences of Chinese international students living in Australia: Wellbeing from "we" to "me"." International Journal of Wellbeing 12, no. 3 (October 1, 2022): 81–100. http://dx.doi.org/10.5502/ijw.v12i3.1915.
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Whilst there is evidence of subjective wellbeing being related to academic success, good performance within and beyond university, degree attainment, and positive subsequent physical, mental, economic, and social outcomes in the university student population, less is known on how different student populations perceive, experience, and cultivate wellbeing. The current study explored the perspectives and experiences of one such population: Chinese international students at several universities across Australia. Semi-structured interviews with 30 students indicated that participants mainly experienced wellbeing through experiences of competence, feeling supported by family and friends, low levels of pressure, and giving to others. Almost half of the participants believed that people around them had low wellbeing. Students indicated drawing upon intrapersonal activities as the primary pathway to support their own wellbeing, whereas they pointed to interpersonal activities to support other’s wellbeing. The findings show the mismatch between students’ wellbeing experiences and pathways, shed light on understanding students’ wellbeing in the higher education context, and identify some of the contextual and cultural factors that contribute to wellbeing experiences and pathways. Implications for interculturally nuanced approaches to understanding and supporting wellbeing are considered
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Graves, Chris, and Yuan George Shan. "An Empirical Analysis of the Effect of Internationalization on the Performance of Unlisted Family and Nonfamily Firms in Australia." Family Business Review 27, no. 2 (June 17, 2013): 142–60. http://dx.doi.org/10.1177/0894486513491588.
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The purpose of this study is to compare the performance of unlisted family and nonfamily small and medium-sized enterprises (SMFEs and non-SMFEs) and the effect of internationalization on their relative performance. Results of the regression analysis of 4,217 firms with 11,821 observations over a 3-year period found that SMFEs achieved a higher return on assets as a result of having a superior return on sales. Also, although the results indicate that internationalization had a significant negative effect on the return on assets of SMEs overall, this was not the case for SMFEs, and the results suggest that SMFEs perform better in the international marketplace. These results were consistent across different definitions of family business employed. Implications for future research are explored.
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Barrett, Alan, and Jean Goggin. "Returning to the Question of a Wage Premium for Returning Migrants." National Institute Economic Review 213 (July 2010): R43—R51. http://dx.doi.org/10.1177/0027950110380326.
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Using data from a large-scale survey of employees in Ireland, we estimate the extent to which people who have emigrated from Ireland and returned earn more relative to comparable people who have never lived abroad. In so doing, we test the hypothesis that migration can be part of a process of human capital formation. We find through OLS estimation that returners earn 7 per cent more than comparable stayers. We test for the presence of self-selection bias in this estimate but the tests suggest that the premium is related to returner status. The premium holds for both genders, is higher for people with postgraduate degrees and for people who migrated beyond the EU to the US, Canada, Australia and New Zealand. The results show how emigration can be positive for a source country when viewed in a longer-term context.
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P. Dhakal, Subas. "A methodological framework for ascertaining the social capital of environmental community organisations in urban Australia." International Journal of Sociology and Social Policy 34, no. 11/12 (October 7, 2014): 730–46. http://dx.doi.org/10.1108/ijssp-12-2013-0124.
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Purpose – The purpose of this paper is to ascertain the level of social capital in environmental community organisations (ECOs) in Perth, Western Australia. On a general level, social capital in ECOs is understood as intra-organisational and inter-organisational relationships that organisations maintain through interactions. Design/methodology/approach – This paper utilises quantitative (i.e. survey) as well as qualitative (i.e. interviews) approaches to data collection and analysis. It proposes a methodological framework to measure the level of social capital, and explores the association between the ascertained level of social capital and organisational capabilities. Findings – The results of the survey and interviews reveal that while the level of social capital is needs based, maintaining a higher intensity of organisational relationships puts ECOs in a better position to do more with less. Research limitations/implications – The findings advance the task of ascertaining the level of social capital in ECOs from organisational interactions perspective. Originality/value – This paper captures a community organisation-specific methodological framework to measure and analyse social capital.
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Curtis, Kate, Mary Lam, Rebecca Mitchell, Cara Dickson, and Karon McDonnell. "Major trauma: the unseen financial burden to trauma centres, a descriptive multicentre analysis." Australian Health Review 38, no. 1 (2014): 30. http://dx.doi.org/10.1071/ah13061.
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Objective This research examines the existing funding model for in-hospital trauma patient episodes in New South Wales (NSW), Australia and identifies factors that cause above-average treatment costs. Accurate information on the treatment costs of injury is needed to guide health-funding strategy and prevent inadvertent underfunding of specialist trauma centres, which treat a high trauma casemix. Methods Admitted trauma patient data provided by 12 trauma centres were linked with financial data for 2008–09. Actual costs incurred by each hospital were compared with state-wide Australian Refined Diagnostic Related Groups (AR-DRG) average costs. Patient episodes where actual cost was higher than AR-DRG cost allocation were examined. Results There were 16 693 patients at a total cost of AU$178.7 million. The total costs incurred by trauma centres were $14.7 million above the NSW peer-group average cost estimates. There were 10 AR-DRG where the total cost variance was greater than $500 000. The AR-DRG with the largest proportion of patients were the upper limb injury categories, many of whom had multiple body regions injured and/or a traumatic brain injury (P < 0.001). Conclusions AR-DRG classifications do not adequately describe the trauma patient episode and are not commensurate with the expense of trauma treatment. A revision of AR-DRG used for trauma is needed. What is known about this topic? Severely injured trauma patients often have multiple injuries, in more than one body region and the determination of appropriate AR-DRG can be difficult. Pilot research suggests that the AR-DRG do not accurately represent the care that is required for these patients. What does this paper add? This is the first multicentre analysis of treatment costs and coding variance for major trauma in Australia. This research identifies the limitations of the current AR-DRGS and those that are particularly problematic. The value of linking trauma registry and financial data within each trauma centre is demonstrated. What are the implications for practitioners? Further work should be conducted between trauma services, clinical coding and finance departments to improve the accuracy of clinical coding, review funding models and ensure that AR-DRG allocation is commensurate with the expense of trauma treatment.
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Sultana, Nigar, Steven F. Cahan, and Asheq Rahman. "Do Gender Diversity Recommendations in Corporate Governance Codes Matter? Evidence from Audit Committees." AUDITING: A Journal of Practice & Theory 39, no. 1 (February 1, 2020): 173–97. http://dx.doi.org/10.2308/ajpt-52560.
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SUMMARY Motivated by two opposing views, the limited supply view and the discrimination view, we examine the impact of gender diversity guidelines on the strength of the association between the presence of female audit committee members and audit quality. The limited supply view predicts that the effect of female audit committee members on audit quality would decrease after the guidelines were issued because they increased the demand for women directors without a commensurate increase in the supply of qualified women directors. The discrimination view predicts this relation would increase after the guidelines were issued since some firms would have abandoned their suboptimal hiring practices that favored men over better qualified women, resulting in higher quality firm-director matches as opportunities for women increase. Consistent with the limited supply view, we find that the positive association between audit committee gender diversity and audit quality weakened after gender diversity guidelines were introduced in Australia. JEL Classifications: G38; M42; M48. Data Availability: Data are available from the databases cited in the text.
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Boschee, Pam. "Comments: The Stakes Grow Higher in Defining Green Energy." Journal of Petroleum Technology 74, no. 03 (March 1, 2022): 8–9. http://dx.doi.org/10.2118/0322-0008-jpt.
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Not so long ago, defining green energy was generally straightforward: renewables. It may not have been quite that simple, but the development of agreed-upon definitions based on science has become much more complex and contentious, even within the past year. It’s not just a highbrow debate about semantics. The standardization of criteria or a widely accepted taxonomy is critical as the focus increases on not only greenwashing, but on the actual processes and technologies enabling what were thought of as at least “greener” energy. The hammering out of definitions is needed to keep the energy transition moving forward globally. This scrutiny affects the options for companies seeking alternatives in carbon markets where the price of permits for emitting a tonne of CO2 is escalating. In early February, the price of CO2 permits in the EU reached a record high above 96 Euros ($109)/tonne CO2. Reuters reported that the carbon price has risen more than 200% since the start of 2021, partly due to high natural gas prices and the switch made to coal by some power generators. This resulted in higher emissions and increased the demand for permits. In January, the EU Platform on Sustainable Finance, comprising members from utilities, banks, nongovernmental organizations, and corporations, rejected the EU Commission’s draft sustainable finance rules which proposed labeling nuclear power and natural gas as green transition fuels. Nuclear projects permitted until 2045 were to be classified as green, but only if countries can safely dispose of the radioactive waste. Gas was to be included until 2030 with emissions thresholds specified. The EU Platform concluded that even if a gas plant stays under the emissions threshold, it “is not green at any point in its life.” Nuclear energy was acknowledged as already being part of the transitioning energy system and having near to zero greenhouse-gas emissions, but it would not meet the taxonomy’s requirement to “do not significant harm” to the environment because of the toxic waste that cannot be recycled or reused. The EU Commission’s taxonomy will be sent to the European Parliament and Council for review. Blue hydrogen was questioned as a transition fuel by a peer-reviewed study published in August 2021 in Energy Science & Engineering by coauthors from Cornell and Stanford universities. They wrote, “Far from being low-carbon, greenhouse-gas emissions from the production of blue hydrogen are quite high, particularly due to the release of fugitive methane. … Perhaps surprisingly, the greenhouse-gas footprint of blue hydrogen is more than 20% greater than burning natural gas or coal for heat and some 60% greater than burning diesel oil for heat, again with our default assumptions.” They added, “Our analysis assumes that captured carbon dioxide can be stored indefinitely, an optimistic and unproven assumption. Even if true though, the use of blue hydrogen appears difficult to justify on climate grounds.” In a study published last month in the Proceedings of the National Academy of Sciences, researchers at the University of Wisconsin-Madison combined econometric analyses, land use observations, and biophysical models to estimate the realized effects of the US Environmental Protection Agency’s Renewable Fuel Standard (RFS) mandate to partially replace petroleum-based fuels with biofuels. They found that the RFS increased corn prices by 30% and the prices of other crops by 20%, which, in turn, expanded US corn cultivation by 8.7% and total cropland by 2.4% in the years following the policy’s enactment (2008 to 2016). “These changes increased annual nationwide fertilizer use by 3 to 8%, increased water-quality degradants by 3 to 5%, and caused enough domestic land use change emissions such that the carbon intensity of corn ethanol produced under the RFS is no less than gasoline and likely at least 24% higher. These tradeoffs must be weighed alongside the benefits of biofuels as decision makers consider the future of renewable energy policies and the potential for fuels like corn ethanol to meet climate mitigation goals.” The move toward energy transition has been pivotal for our industry and many others. It could be argued that no country, business, or individual will remain unaffected by the changes in progress and yet to come. “Transition” is defined as “the process or a period of changing from one state or condition to another.” And this process will take time, effort, technology, buy-in, scientific study and verification … and consensus, which may be the most challenging piece of all. A significant announcement demonstrating the application and acceptance of a scientific taxonomy was Santos Ltd.’s recent booking of 100 million metric tons of CO2 storage capacity in the Cooper Basin in South Australia. The company believes it represents the industry’s first-ever booking to be made under SPE’s CO2 Storage Resource Management System.
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Green, Ray, Piyush Tiwari, Jyoti Rao, and Ricki Hersburgh. "Strategies used by developers in seeking EnviroDevelopment certification for “sustainable” master-planned residential developments in Victoria, Australia." International Journal of Housing Markets and Analysis 11, no. 3 (June 4, 2018): 557–72. http://dx.doi.org/10.1108/ijhma-08-2017-0074.
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Purpose The purpose of this study was to explore strategies used by developers of master-planned housing development projects in Victoria, Australia, for obtaining certification under the Urban Development Institute of Australia’s (UDIA) EnviroDevelopment (ED) sustainable development certification programme. To be awarded ED certification, a development must demonstrate that it meets the assessment criteria within at least four of the six ED “leaves”. These leaves relate to its performance in terms of energy, water, materials, waste, community and ecosystems. This study explored how developers make choices regarding sustainability features they build into the planning, design and management of their developments to gain the leaves needed for ED certification. Having this certification is valued by developers as it can be used to demonstrate the sustainability credentials of their developments to potential house buyers, the validity of which is backed up by a trusted independent non-profit organisation (UDIA). Design/methodology/approach The study sought to quantify the preferential weightings of nine developers in selecting ED “leaves” and the strategies they use for meeting the assessment criteria needed to obtain selected ED leaves. This was done using a novel data collection and analysis method, the analytical hierarchical process (AHP), which relies on respondents, in this case, developers of ED certified development projects, making pairwise comparisons between choices of different development factors associated with the different ED “leaves”. Findings The most highly preferred ED leaves were found to be community, energy and ecosystems. “Community facilities” and “on-site transportation” were the two most highly weighted factors associated with the community leaf. Energy, the next most preferred leaf, was most highly weighted on “saving on operational costs” for the consumers (home buyers). Here consumer demand factors seem to be driving preferences. The ecology leaf was the next most preferred, with “existing site conditions” being the most highly weighted factor for this leaf. For sites that already contain significant areas of indigenous habitat, such as wetlands, selecting this leaf would seem to be an attractive, and potentially lower cost, option. Existing ecologically significant natural areas that are preserved, and where necessary enhanced, can be used for marketing purposes and serve in fulfilling planning open-space contribution requirements. The developers were more indifferent to the water, waste and materials leaves; however, the water leaf was rated slightly higher than the other two and was most strongly associated with “recycled water” and opportunities for “water conservation”, another example of demand factors driving preferences. Originality/value The results of this study reveal the preferences of a small sample of developers in terms of how they weigh different factors in making decisions about acquiring sustainability certification for residential master-planned development projects through the UDIA’S ED programme. The findings provide insight into the types of decisions developers make in the process of seeking ED certification, which includes considerations of site characteristics, costs, predicted effectiveness of different interventions and usefulness for marketing and other factors in terms of which ED leaves to pursue and how to acquire them to gain ED certification. The study also tested the AHP method as a methodological tool for addressing this question. Modifications in how data are collected using the on-line survey can be made to allow the method to be more easily used with larger respondent sample sizes. Collection of more focussed data elicited from respondents with specific areas of expertise, for example, specialists in energy, water, landscape architecture and planning, ecology and other relevant areas of knowledge, should also been considered.
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Chen, Dong, Yanmin Gao, Mayank Kaul, and Desmond Tsang:. "International Real Estate Review." International Real Estate Review 19, no. 2 (June 30, 2016): 197–221. http://dx.doi.org/10.53383/100220.
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This paper studies how the presence of sponsor and external management affect leverage and debt maturity decisions in three major Asian-Pacific real estate investment trust (REIT) markets: Australia, Japan and Singapore. Our empirical results indicate that sponsored REITs opt for higher levels of leverage and loans with longer maturity. On the contrary, externally managed REITs are associated with lower leverage and loans with shorter maturity. Our results are robust to the inclusion of other firm variables and to alternative specifications. Subsequent to the financial crisis, the impact of sponsorship on debt financing decisions has diminished, and borrowing of externally managed REITs is further constrained.
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Guthrie, James, and Lee D. Parker. "The global accounting academic: what counts!" Accounting, Auditing & Accountability Journal 27, no. 1 (January 2, 2014): 2–14. http://dx.doi.org/10.1108/aaaj-10-2013-1504.
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Purpose – This editorial aims to consider the global accounting academic and the environment in which we research and teach, including consideration of the challenges that confront us now and into the future. Design/methodology/approach – Document review, personal reflections and argument. Findings – The paper acknowledges that the accounting academic has an important role to play in a global higher education system. However, challenges include government research performance measurement systems, journal ranking lists, lack of funding for quality teaching and research, life as a “cash cow” for universities, the impact of the virtual university and its impact on professional practice, the profession and society in general. These factors carry direct implications for the current shape and orientation of accounting research and scholarship. Research limitations/implications – The paper offers scope for accounting academics to engage with the profession and society as to the impact of their teaching and research, not only in Australia, but internationally. Originality/value – The paper provides important commentary on the global accounting academic and what counts.
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Gabe, Jeremy, Spenser Robinson, Andrew Sanderford, and Robert A. Simons. "Lease structures and occupancy costs in eco-labeled buildings." Journal of Property Investment & Finance 38, no. 1 (October 4, 2019): 31–46. http://dx.doi.org/10.1108/jpif-07-2019-0098.
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Purpose The purpose of this paper is to investigate whether energy-efficient green buildings tend to provide net lease structures over gross lease ones. It then considers whether owners benefit by trading away operational savings in a net lease structure. Design/methodology/approach Empirical models of office leasing transactions in Sydney, Australia, with wider transferability supported by analysis of office rent data in the USA. Findings Labeled green buildings are approximately four to five times more likely than non-labeled buildings to use a net lease structure. However, despite receiving operational savings, tenants in net leases pay higher total occupancy costs (TOC), benefiting owners. On average, the increase in TOC paid by tenants in a net lease is equal to or greater than savings attributed to an eco-labeled building. Practical implications A full accounting of TOC in eco-labeled buildings suggests that net lease structures provide numerous benefits to owners that offset the loss of trading away operational savings. Originality/value The principal-agent market inefficiency, or “split incentive,” is a widely cited barrier to private investment in energy-efficient building technology. Here, a uniquely broad look at rental cash flows suggests its role as a barrier is exaggerated.