Journal articles on the topic 'Local finance Australia'
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1
de Jonge, Alice. "Australia-China-Africa investment partnerships." critical perspectives on international business 12, no. 1 (March 7, 2016): 61–82. http://dx.doi.org/10.1108/cpoib-01-2014-0003.
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Purpose – This paper aims to examine the potential for “triangular cooperation” between investment partners from Australia, China and host African nations to contribute to the economic development in Africa. Design/methodology/approach – The paper discusses a number of complementarities between Australian and Chinese investors in mining, agriculture, energy, research and education and finance – sectors vital to Africa’s future development. These complementarities are examined in light of recent development studies on the benefits of triangular cooperation and recent literature examining links between foreign direct investment (FDI) policy and economic development. Findings – The paper concludes that there is much to be gained by making the most of the existing and potential synergies between Australian, Chinese and local investors in African settings. Research limitations/implications – The implications of this paper are, first, that African nations should keep the benefits of triangular cooperation in mind when designing FDI policies and, second, that Australian and Chinese investors should be more willing to explore potential investment partner synergies when investing in Africa. The paper also suggests an agenda for future research into how good design of FDI policies might best promote healthy economic development in African nations. Practical implications – Australian and Chinese companies should be more willing to explore potential avenues for cooperation when investing in Africa, while African governments should be more mindful of how rules and policies can maximise the local benefits of FDI. Social implications – African governments should be more mindful of the quality, rather than the quantity of FDI when drafting relevant laws and policies. Originality/value – The value of the paper is in applying the concept of “triangular cooperation” to direct investment. The paper also provides an original focus on Australia-China investment synergies in African settings.
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Truby, Jon, Andrew Dahdal, and Oriol Caudevilla. "Global Blockchain-Based Trade Finance Solutions: Analysis of Governance Models and Impact on Local Laws in Six Jurisdictions." Global Journal of Comparative Law 11, no. 2 (July 12, 2022): 167–96. http://dx.doi.org/10.1163/2211906x-11020001.
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Abstract Despite the economic importance of trade finance in commercial trade, the fundamentals of trade finance have not dramatically changed for centuries. Most of the transactions continue to be largely paper-based and counterparties still face many of the same risks, obstacles and challenges they did when the Spanish empire ruled the seas. The use of blockchain can address many of these inefficiencies and reduce the friction encountered by sme s using trade finance arrangements to access global markets. This article sets out the main advantages of using blockchain-based trade finance solutions in order to explore the legal developments in a cross section of six jurisdictions with differing approaches (USA, UK, Australia, Singapore, Hong Kong and Qatar). The paper concludes that legal reforms have an important role in assisting the introduction of blockchain into trade finance. Moreover, such an introduction will greatly benefit the economic prospects of sme s seeking to reach transnational markets.
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Williams, Belinda Rachael. "Reporting on sustainability by Australian councils – a communication perspective." Asian Review of Accounting 23, no. 2 (July 17, 2015): 186–203. http://dx.doi.org/10.1108/ara-12-2013-0079.
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Purpose – The purpose of this paper is to provide an understanding of the role of communication in the sustainability reporting process within Australian local councils. The study focuses on three areas; understanding and awareness levels of local councils towards sustainability, sustainability reporting methods and the importance of community engagement. Design/methodology/approach – A qualitative semi-structured interview approach was adopted for this investigation. In total, 18 semi-structured interviews were conducted with senior managers across 13 local councils. Findings – Findings indicate that sustainability reporting is very much an emerging field in local government in Australia with varying levels of understanding and awareness of sustainability amongst councils. A lack of consistency in the current communication message being produced was found along with a lack of community engagement by most councils in the reporting process. Without clarity in the communication process, sustainability reporting in the local government context will continue to falter without a clear focus. Practical implications – The paper suggests the need for the local government sector to carefully consider the role of communication in an effort to provide direction on how best to discharge their sustainability accountabilities. Originality/value – Little attention has been given to the role of communication in accounting. The findings contribute to an understanding surrounding communication process issues in an effort to advance the sustainability reporting agenda within local government.
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Purcell, Aquinas John. "Australian local government corruption and misconduct." Journal of Financial Crime 23, no. 1 (December 31, 2015): 102–18. http://dx.doi.org/10.1108/jfc-10-2013-0060.
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Purpose – This paper aims to focus on corruption and misconduct evidenced from local government investigation reports in Australia, New Zealand and the UK. Design/methodology/approach – A corruption and misconduct taxonomy was developed and the audit committee’s role was empirically tested. Findings – The empirical findings exhibited low support for audit committees overseeing corruption and misconduct allegations. The respondents generally considered that the chief executive was the appropriate person to manage investigations. Practical implications – The findings from the local government investigations and the empirical research emphasises the significance of culture and ethical practices to mitigate against corruption and misconduct. A culture of zero tolerance of corruption and misconduct was one of the best ways of a council demonstrating its integrity. Originality/value – This paper offers a local government perspective on the behavioural factors which provide the organisational conditions for corruption and misconduct to become the norm.
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Beer, Andrew. "Economic Rationalism and the Decline of Local Economic Development in Australia." Local Economy: The Journal of the Local Economy Policy Unit 13, no. 1 (May 1998): 51–63. http://dx.doi.org/10.1080/02690949808726422.
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Yigitcanlar, Tan, and Koray Velibeyoglu. "Knowledge-Based Urban Development: The Local Economic Development Path of Brisbane, Australia." Local Economy: The Journal of the Local Economy Policy Unit 23, no. 3 (August 2008): 195–207. http://dx.doi.org/10.1080/02690940802197358.
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Merrett, David T., and Simon Ville. "Financing Growth: New Issues by Australian Firms, 1920–1939." Business History Review 83, no. 3 (2009): 563–89. http://dx.doi.org/10.1017/s0007680500003007.
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An expanding economy, new technologies, and changing consumer preferences provided growth opportunities for firms in interwar Australia. This period saw an increase in the number of large-scale firms in mining, manufacturing, and a wide range of service industries. Firms unable to rely solely on retained earnings to fund expansion turned to the domestic stock exchanges. A new data set of capital raisings constructed from reports of prospectuses published in the financial press forms the basis for the conclusion that many firms used substantial injections of equity finance to augment internally generated sources of funds. That they were able to do so indicates a strong increase in the capacity of local stock exchanges and a greater willingness of individuals to hold part of their wealthin transferable securities.
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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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Barut, Meropy, Jean Raar, and Mohammad I. Azim. "Biodiversity and local government: a reporting and accountability perspective." Managerial Auditing Journal 31, no. 2 (February 1, 2016): 197–227. http://dx.doi.org/10.1108/maj-08-2014-1082.
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Purpose – The purpose of this study is to illuminate the disclosure of biodiversity material contained in the reported information of 151 local government authorities (LGAs) in New South Wales, Australia. The introduction of the 1992 Convention on Biological Diversity (an international treaty to sustain the rich diversity of life on earth) has made the issue of fauna management and monitoring, and the associated requirement for cost-effective information, much more important. As local communities are best placed to make decisions about the protection of their local environments, the content in external reports and other disclosures allows stakeholders to gauge how accountable LGAs are regarding the conservation of biodiversity within their geographical jurisdiction. Design/methodology/approach – Content analysis was used to analyze the disclosures of these LGAs. Findings – The results reveal marked differences in the reporting of biodiversity issues. In fact, LGAs in the state of New South Wales (Australia) have been, at best, lukewarm in their disclosure of strategic information relating to biodiversity, particularly in their strategic goals and plans. Originality/value – This paper contributes to the academic literature on biodiversity reporting by investigating existing reporting practices and providing evidence that a universally adopted framework for biodiversity reporting and reporting of local native fauna is required. In particular, the impacts of these practices need to be properly understood for LGAs to provide accountability to their stakeholders.
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Kortt, Michael A., and Joseph Drew. "Does religious affiliation influence trust?" International Journal of Sociology and Social Policy 39, no. 1/2 (March 11, 2019): 38–51. http://dx.doi.org/10.1108/ijssp-05-2018-0073.
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PurposeThe purpose of this paper is to estimate and explore how religious affiliation may influence general and local trust in contemporary society.Design/methodology/approachThis paper employs data from the 2010 and 2014 waves of the Household, Income and Labour Dynamics in Australia survey. The association between religious affiliation and trust was estimated using an ordered logistic regression and conventional ordinary least squares model.FindingsThe paper presents evidence of a statistically significant association between religious affiliation and trust that are consistent with theory.Social implicationsThis finding is important for a heterogeneous population like Australia as it seeks to build social cohesion in the face of threats to internal and external security.Originality/valueThe study contributes to the literature by providing – to the best of the authors’ knowledge – the first results on the association between religious affiliation and trust for Australia.
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Richards, Valerie. "ARLIS/ANZ and art libraries in the Antipodes." Art Libraries Journal 11, no. 1 (1986): 12–16. http://dx.doi.org/10.1017/s0307472200004442.
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ARLIS/ANZ Art Libraries Society, Australia New Zealand was formed in August 1976. Since then, ARLIS/ANZ has arranged a number of seminars and workshops for art librarians in both countries; found finance to bring three noted art librarians to the antipodes to give talks and workshops which stimulated both members and other interested professionals; and has published thirteen issues of ARLIS/ANZ News. ARLIS has served as a valuable support for art librarians working in isolation, at great distance from international centres of publishing and art activity. Distance between ARLIS/ANZ centres led to the formation of local interest groups and cooperation between art libraries in art galleries and museums, universities, schools of art, and national resource libraries.
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Harrison, Julie, and Mark Keating. "The deductibility of Sarbanes-Oxley costs incurred by Australasian companies." Accounting Research Journal 27, no. 1 (July 7, 2014): 52–70. http://dx.doi.org/10.1108/arj-09-2013-0064.
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Purpose – This paper aims to examine the nature of Sarbanes-Oxley (SOX) costs incurred by subsidiaries of USA parent companies, and considers whether any value flows to non-USA subsidiaries. Deductibility is analysed under both the general deductibility provisions and the transfer pricing regimes of Australia and New Zealand (NZ). Reference is also made to the Organisation for Economic Cooperation and Development (OECD) transfer pricing guidelines and the US transfer pricing regulations. Australasian and New Zealand subsidiaries of US parent companies frequently incur costs related to their parent’s regulatory reporting requirements under the Sarbanes-Oxley Act of 2002. Tax authorities, generally, view these costs as “shareholder activities”, i.e. activities performed for the benefit of the parent only. As such, they are considered non-deductible to the subsidiaries of USA parents because an independent party dealing at arm’s length would not pay to receive similar services. We consider circumstances in which some costs may be deductible. Design/methodology/approach – Legal analysis. Findings – We conclude that there can be circumstances where these so-called shareholder activities do provide value to subsidiaries and, accordingly, may (or should) be deductible in the local jurisdiction. Research limitations/implications – This analysis is limited to a consideration of Australian, NZ, OECD and US sources. Practical implications – This paper provides an analysis of the deductibility of a type of expenditure commonly encountered by subsidiaries of US parent companies. Originality/value – Limited research is available that deals with this issue. In most cases, only general statements on deductibility of similar types of expenditure are available to taxpayers.
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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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Fleischmann, Katja. "Design-led innovation and Circular Economy practices in regional Queensland." Local Economy: The Journal of the Local Economy Policy Unit 34, no. 4 (June 2019): 382–402. http://dx.doi.org/10.1177/0269094219854679.
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The Circular Economy proposes a sustainable economic model that encourages businesses and governments to work towards the goal of conserving natural resources and reducing waste. This model largely relies on government policies that encourage waste reduction and help businesses creating markets to re-purpose that waste profitably. Design-led innovation offers methods to drive required business model transformation and is recognized as one of the key enablers in the transition to a Circular Economy. It is evident globally that metropolitan cities and countries with high innovation indices are better able to transition to a Circular Economy by applying design-led innovation. Although more populous states and densely populated cities in Australia have started to initiate Circular Economy practices, it is unclear if similar initiatives could be developed in regional economies in Australia and if design-led innovation has a role to play in their acceptance and development. This study is an exploration into two regional areas in the state of Queensland: the Sunshine Coast and North Queensland. The qualitative study explores the views of waste managers of local councils, small-scale applications of the Circular Economy on two university campuses and an experiment to introduce a street of business owners to Circular Economy practices.
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Cradduck, Lucy, Georgia Warren-Myers, and Bianca Stringer. "Courts’ views on climate change inundation risks for developments: Australian perspectives and considerations for valuers." Journal of European Real Estate Research 13, no. 3 (June 18, 2020): 435–53. http://dx.doi.org/10.1108/jerer-03-2020-0019.
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Purpose This study aims to provide a development of the courts’ views of climate change risk in planning matters as related to inundation and suggest that valuers and others involved need to be aware of the implications these views have on property matters and valuation processes and reporting. Design/methodology/approach This study engages in a legal doctrinal analysis of primary law sources, being Australian case law. It analyses decisions from Queensland, New South Wales and Victorian courts and tribunals, to establish their views of climate change risk for coastal area developments, who bears the risk and responsibility and if risk is shared. Findings The analysis reflects that developers bear the onus of proving their proposal meets relevant planning requirements including management and mitigation of climate change risks. However, the risk of developing in “at risk” areas is a shared burden, as local government authorities remain responsible for appropriately assessing applications against those requirements. Research limitations/implications This study had several limitations, these included: only matters with a final determination were able to be reviewed and analysed; there is no one Australia-wide planning regime; state laws and policies are different and changing; and disputes are heard in different courts or tribunals, which can impact the weight and importance given to issues and the consistency of approaches. Practical implications This research informs valuers of climate change risk issues related to the inundation of new, and re-, developments, and the importance of court decisions as an additional information consideration to inform their valuations. Originality/value This paper is significant as it provides an understanding of the Australian courts’ current views on climate change risk, and by extension, the implications and considerations for valuations.
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Shkarlet, Serhiy, Iryna Dolozina, and Maksym Dubyna. "BUDGETARY REVENUE BREAKDOWN AT THE LOCAL LEVEL OF PUBLIC ADMINISTRATION IN FEDERAL COUNTRIES." Baltic Journal of Economic Studies 5, no. 3 (August 1, 2019): 218. http://dx.doi.org/10.30525/2256-0742/2019-5-3-218-224.
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Ensuring the financial autonomy of local government bodies is an important component for creating conditions on accelerating the development of individual territories of the country and increasing the efficiency of their use. Creation of mechanisms for providing sufficient amounts of financial resources, activities of the above-mentioned authorities require thorough research in this area, especially within the study of foreign experience by building budget systems and organizing redistribution of financial resources between their individual components at different levels. Experience of federative countries is particularly significant in this area. The outlined confirms the relevance of the chosen topic of the article. Accordingly, the following goal of the research was set – to identify structural features and trends in the transformation of budget revenues at the local level of public administration in federative countries from 2000 to 2015. To achieve this goal, the following tasks were set: to determine the revenues structure of local government in federative countries; to analyse main tendencies of the change of the specified structure during 2000–2015; to apply cluster analysis in order to identify groups of countries that are similar to the processes of revenue generation of local government budgets in federative countries. Methodology. Statistics for assessment of budgetary revenue’s breakdown in several federative countries by the IMF data was processed, assessment of breakdown transformation with the use of the Ryabtsev index was done, and similarity and distinctions of revenue’s breakdown in different countries with the use of the hierarchical cluster analysis was investigated. Outcomes. It was found that among the analysed federative countries, the own tax revenue has a significant share (higher than 30% in a breakdown of all revenue) only in Belgium, Germany, Australia, Canada, and also in Bosnia and Herzegovina; the inter-budgetary transfers take the main position in financing of local budgets in Austria, Belgium, Canada, Russia, and Brazil; own non-tax revenues in local budgets are significant only in Australia and Bosnia and Herzegovina. It was proved that in fifteen years only in Russia, the opposite type of revenues breakdown sources was created and it demonstrates shifting to the centralization of public finance. It was also revealed that in 2000, the countries’ cluster structure by breakdown sign had obviously expressed group character, but further it evolved from a group structure to the step structure displaying specifics in the formation of local budgets’ revenues in each country. Practical implications. Practical outcomes of the study are analytical information on the structure of revenues of local government in federative countries, which may be useful by introducing new mechanisms for increasing the financial autonomy of local self-government. In addition, the obtained data may be useful for other not federative countries in terms of studying peculiarities of the formation of budget revenues of local government and analysis of the impact of such revenues on the socio-economic development of separate territories. Value/originality. The conducted study is relevant given the importance of developing local government in federative countries and providing it with the necessary financial resources for independent self-functioning. The data obtained during the research implementation are of practical value and can be used in the process of implementing measures to increase the financial independence of budget revenues at the level of local self-government in federative countries. This research was carried out within the framework of the scientific work performing of the Department of Finance, Banking and Insurance of the Chernihiv National University of Technology on the following topics: “Financial stability of economic systems in crisis management” (No. 0115U001149) and “Theoretical and applied aspects on financial provision of the national economy” (State Registration No. 0113U002741).
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Kusek, Weronika A. "Ukrainian migrants in Poland: Socio-economic inclusion or exclusion?" Local Economy: The Journal of the Local Economy Policy Unit 34, no. 7 (November 2019): 739–44. http://dx.doi.org/10.1177/0269094219889877.
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Poland is an important country to study when assessing migration. In fact, many scholars who focus on migration and its impact on the local economy, in relation to Poland, focus on Polish migrants living and working in countries such as the United Kingdom, United States, Canada, or Australia. This viewpoint presents a different focus by addressing the need to conduct more work on migrants who are coming to Poland to work to fulfill labor shortages and take advantage of the country’s growing economy. Specifically this paper will look at Ukrainians who are migrating to Poland. The viewpoint will focus on push/pull factors and touch on aspects of the lived experience of Ukrainian migrants in Poland. This paper helps identify some observed trends from interviews to identify future research directions related to socio-economic inclusion or exclusion.
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Badcock, B. A., and M. A. Browett. "Adelaide's Heart Transplant, 1970–88: 3. The Deployment of Capital in the Renovation and Redevelopment Submarkets." Environment and Planning A: Economy and Space 24, no. 8 (August 1992): 1167–90. http://dx.doi.org/10.1068/a241167.
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In this, the last of three papers devoted to urban restructuring and its impact upon the built environment of an Australian city, the spatial focus narrows from the metropolitan region to an inner zone of Adelaide. This is the part of Adelaide that has gained most from the processes of residential reinvestment and gentrification over the last two decades. The interest in the circulation of capital that has been maintained throughout the previous papers is explored more fully by measuring and evaluating investment activity in the renovation and redevelopment submarkets. The evidence presented on the organizational structure, levels of investment, and returns to investment within the two submarkets makes for a better-informed characterization of ‘property capital’. It also serves to make the accompanying role of public finance in the revitalization process much clearer. In this paper, the interpretation of capital formation in the renovation and redevelopment submarkets suggests that all three tiers of government in Australia have been thoroughly implicated in the residential transformation of Inner Adelaide during the last two decades. Changes to the Commonwealth States Housing Agreement in 1973 released public funds for rehabilitating terrace housing in the City and inner suburbs, and the Hawke Government restructured taxation policy and the financial markets affecting investment in the home unit and town house submarket in the 1980s. Meanwhile the Dunstan administration in South Australia axed the freeway and high-rise-housing plans of the previous state government, and pressured City Hall to abandon its grandiose plans for commercializing the City's ‘square mile’. The residential development policies conceived in the mid-1970s as part of the replacement City of Adelaide Plan were emulated by other local government bodies in the nearby suburbs. Somewhat uncharacteristically, the state's public-housing agency gave a lead to project developers in the private sector by demonstrating what could be achieved in the submarket of inner-city-home units and town houses.
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Parker, Lee D., Kerry Jacobs, and Jana Schmitz. "New public management and the rise of public sector performance audit." Accounting, Auditing & Accountability Journal 32, no. 1 (November 29, 2018): 280–306. http://dx.doi.org/10.1108/aaaj-06-2017-2964.
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Purpose In the context of global new public management reform trends and the associated phenomenon of performance auditing (PA), the purpose of this paper is to explore the rise of performance audit in Australia and examines its focus across audit jurisdictions and the role key stakeholders play in driving its practice. Design/methodology/approach The study adopts a multi-jurisdictional analysis of PA in Australia to explore its scale and focus, drawing on the theoretical tools of Goffman. Documentary analysis and interview methods are employed. Findings Performance audit growth has continued but not always consistently over time and across audit jurisdictions. Despite auditor discourse concerning backstage performance audit intentions being strongly focussed on evaluating programme outcomes, published front stage reports retain a strong control focus. While this appears to reflect Auditors-General (AGs) reluctance to critique government policy, nonetheless there are signs of direct and indirectly recursive relationships emerging between AGs and parliamentarians, the media and the public. Research limitations/implications PA merits renewed researcher attention as it is now an established process but with ongoing variability in focus and stakeholder influence. Social implications As an audit technology now well-embedded in the public sector accountability setting, it offers potential insights into matters of local, state and national importance for parliament and the public, but exhibits variable underlying drivers, agendas and styles of presentation that have the capacity to enhance or detract from the public interest. Originality/value Performance audit emerges as a complex practice deployed as a mask by auditors in managing their relationship with key stakeholders.
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AlAlkim, Hassan Hamdan. "Biden’s Administration Policies towards the Middle East: Initial Appraisal and Potential Prospect." International Journal of Social Science Studies 10, no. 2 (January 21, 2022): 8. http://dx.doi.org/10.11114/ijsss.v10i2.5423.
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In light of the challenges, difficulties, and risks facing the United States, and the inherited pitfalls at the local and global levels, this research aims to examine the credibility of Joe Biden’s foreign policy campaign promises towards the region after one- year in office. The aim is to analyze the U.S. behavior towards the Middle East based on Hans Morgenthau’s approach to the pursuance of the national interest at all cost. The hypothesis is that Biden’s Administration will follow a permanent interest approach towards the Middle East which has been constant over long periods of time. The U.S. policy towards the Arab world has remained remarkably consistent across administrations ever since the discovery of the region’s energy resources. This analysis suggests that the desire to shift U.S. foreign policy emphasis from the troubled Middle East to south Asia[i] is a persisting foreign policy objective under Biden. However, the new focus on Asia Pacific and de-prioritization of the Middle East in U.S. foreign policy does not negate the assumption that the region, due to its geopolitical importance, will continue to enjoy and attract significant U.S. attention. Joe Biden’s Administration has been pragmatic in its approach towards the region abandoning the “American values” of democratization and human rights in pursuance of national interest.[i] The U.S.- UK nuclear submarines deal with Australia is an example of Biden’s administration policy to contain the Chinese threat in South Asia. The announcement on September 24th of the Washington Declaration forming a quadrant military alliance consisting of the U.S., India, Japan and Australia to maintain peace and security in the Indian and Pacific oceans is another manifestation of the U.S. new policy to deter Chinese threat in the south Asia region.
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Pincus, Morton, Shivaram Rajgopal, and Mohan Venkatachalam. "The Accrual Anomaly: International Evidence." Accounting Review 82, no. 1 (January 1, 2007): 169–203. http://dx.doi.org/10.2308/accr.2007.82.1.169.
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We consider stock markets in 20 countries to investigate whether the accrual anomaly (Sloan 1996), characterized by U.S. stock prices overweighting the role of accrual persistence, is a local manifestation of a global phenomenon.We explore whether the occurrence of the anomaly is related to country differences in accounting and institutional structures, and examine alternative explanations for its occurrence. We find stock prices overweight accruals in general, with accruals overweighting occurring in countries with a common law relative to a code law tradition. Using firmlevel data on a country-by-country basis, we document the occurrence of the anomaly in four countries, Australia, Canada, the U.K., and the U.S., and also in a sample of American Depository Receipts (ADRs) of firms domiciled in countries where we do not detect the anomaly. Using country-level data, we confirm the anomaly is more likely to occur in countries having a common law tradition, and also in countries allowing extensive use of accrual accounting and having a lower concentration of share ownership. Additional analyses reveal that earnings management and barriers to arbitrage best explain the anomaly.
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Davis, Edward Rock, and Rachel Wilson. "“Not so globalised”: contrasting media discourses on education and competitiveness in four countries." Journal of Asia Business Studies 13, no. 1 (January 7, 2019): 155–76. http://dx.doi.org/10.1108/jabs-08-2016-0108.
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PurposeThis paper aims to analyse contrasting discourses on education and competitiveness from four countries to show the different national values that are a key driver in economic development.Design/methodology/approachThe paper uses content analysis to compare and contrast the newspaper discourse surrounding the OECD Program for International Student Assessment (PISA) in four countries with above OECD average performance: Japan and South Korea (improving performance) and Australia and Finland (declining performance). PISA has attracted much government and public attention because it reflects education and the economic value of that education.FindingsThere are key contrasts in the discourses of the four countries. Despite shifts to globalised perspectives on education, strong national and cultural differences remain. Educational competitiveness and economic competitiveness are strong discourses in Japan and South Korea, while in Australia and Finland, the focus is on educational competitiveness. The media in Finland has few references to economic competitiveness and it does not feature in Australia. The discourse themes on PISA from 2001 to 2015 are presented with trends in educational attainment and shifting national perspectives on education.Research limitations/implicationsAnalysis is limited to the top two circulation newspapers in English language in each country over 2001 to 2015. These newspapers in Finland, Japan and South Korea include translated content from local language papers.Originality/valueThe paper provides longitudinal perspectives to understand the contrasting societal values placed on education and how these relate to perspectives on competitiveness. This media evidence on national discourses can inform education policy orientations in the four countries examined.
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Mangioni, Vince. "Value capture taxation: alternate sources of revenue for Sub-Central government in Australia." Journal of Financial Management of Property and Construction 24, no. 2 (August 5, 2019): 200–216. http://dx.doi.org/10.1108/jfmpc-11-2018-0065.
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Purpose Australia’s Future Tax System (2009) among its recommendations identified the need for realignment of tax revenue across the tiers of government in Australia, as well as the need to raise additional revenue from land-based taxes. In achieving these objectives, this paper aims to examine the revenues generated from land and how capital gains tax may be reconceptualised as a value capture tax resulting from the rapid urbanisation of Australia’s cities. The development of a theoretical framework realigns the emerging rationale of a value capture tax, as a means for revenue to be divested from central government in the form of capital gains, to sub-central government as a value capture tax. Design/methodology/approach A qualitative research methodology comprising grounded theory and phenomenological research is used in undertaking the review of tax revenue collection from state land tax, conveyance stamp duty, local government rating and Commonwealth capital gains tax. Grounded theory is applied for constant comparison of the data with the objectives of maximising similarities and differences in these revenues with an analytical construct as defined by Strauss and Corbin (1990, p. 61). Findings The paper finds that realigning revenue from land-based taxes against the principles of good tax design provides greater opportunity to raise additional revenue to fund public infrastructure while decentralising revenue from central government. It provides an alternate mechanism for revenue transfer from central to sub-central government while conceptually improving own source revenue from value capture taxation as a new revenue source. Research limitations/implications The limitation of this paper is the ability to quantify the potential increase that would be generated in the form of value capture revenue. It is demonstrated in the paper that capital gains tax took over 15 years for revenue generation to crystallise, a factor that would likely occur in the potential introduction of a value capture tax for funding transport infrastructure. Practical implications The pathway to introducing a value capture tax is through re-innovating capital gains tax as a value capture tax directly hypothecated to funding transport infrastructure that results in the uplift in values of the surrounding property from which revenue is raised. Originality/value This paper provides a new approach in contributing to funding the capital outlay of public infrastructure in lieu of central government consolidated revenue allocated through the Commonwealth Grants Commission. It provides a much-needed approach to decentralising revenue from the Commonwealth to sub-central government in Australia which has one of the most centralised tax systems in the OECD.
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Abdolmohammadi, Mohammad. "Correlates of Co-Sourcing/Outsourcing of Internal Audit Activities." AUDITING: A Journal of Practice & Theory 32, no. 3 (March 1, 2013): 69–85. http://dx.doi.org/10.2308/ajpt-50453.
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SUMMARY: I use responses from 1,059 chief audit executives (CAEs) of organizations located in Australia, Canada, New Zealand, South Africa, the U.K./Ireland, and the U.S. to investigate several correlates of co-sourcing and/or outsourcing (hereafter, simply “outsourcing”) of internal audit activities. An important finding of the study is that audit committee involvement is positively and significantly associated with outsourcing of internal audit activities. Interactions of audit committee involvement with organization size and location generally indicate that medium and large international/multinational organizations with audit committee involvement outsource more than medium and large local/national organizations with no audit committee involvement. Analysis of control variables produces significance for an inverse relationship between outsourcing and value-added activities of the internal audit function, and for positive relationships between outsourcing and missing skill set and audit staff vacancies. Other control variables, such as CAE age, college degree (graduate/undergraduate), major (accounting versus others), internal audit certification, and regular meetings with the audit committee do not show significant associations with outsourcing. Also, country of residence (U.S. versus other Anglo-culture countries) is not significant, but for-profit organizations outsource significantly more of their internal audit activities than not-for-profit/governmental organizations. Data Availability: Please contact the Institute of Internal Auditors Research Foundation, which owns the CBOK (2010) database used in this study.
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Hambleton, Robin. "Place-based collaboration: Leadership for a changing world." Administration 63, no. 3 (December 1, 2015): 5–25. http://dx.doi.org/10.1515/admin-2015-0018.
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Abstract Placeless power, meaning the exercise of power by decision-makers who are unconcerned about the impact of their decisions on communities living in particular places, has grown significantly in the last thirty years. A consequence is that societies are becoming more unequal. Even in the wealthy global cities modern capitalism is increasing inequality at a formidable rate. In a new book the author provides an international, comparative analysis of the efforts being made by place-based leaders to create inclusive, sustainable cities. This article draws on the evidence presented in the book to suggest that place-based leaders can play a significant role in advancing social justice, promoting care for the environment and bolstering community empowerment. An opening section introduces the idea of place-based power, providing a context for the subsequent discussion. A second section sets out a new way of conceptualising the roles of place-based leaders in any given context, a framework described as the New Civic Leadership. This distinguishes five different realms of civic leadership. The third section provides an example of place-based leadership in action. It outlines the way local leadership has brought about a remarkable transformation of the central area of Melbourne, Australia. A final section presents a comparative discussion of three themes relating to place-based leadership and local collaboration: (i) the changing possibilities for place-based leadership in our rapidly globalising world, (ii) the need for outward-facing local government leadership given the changing nature of public policy challenges and (iii) the role of place-based leadership in bringing about radical public innovation.
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Gibson, Chris. "Economic geography, to what ends? From privilege to progressive performances of expertise." Environment and Planning A: Economy and Space 51, no. 3 (February 6, 2019): 805–13. http://dx.doi.org/10.1177/0308518x19829084.
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Recent Exchanges have focused on economic geography’s purported ‘decline’ and its patriarchal and generational privilege, asking ‘who speaks’ for the subdiscipline. This Exchanges piece asks another kind of existential question: what ends does economic geography serve? And how is economic geographical expertise marshalled and performed towards such ends – especially beyond the British context, where much of the debate has focused? Drawing briefly upon collaborative research experiences in Sydney, Australia, I offer thoughts on progressive contributions arising from grounded empirical research within cities subject to profound transformation from speculative real estate, and hypercharged by global finance. Amid unsolicited plans for massive rezoning of industrial spaces and accompanying displacement of manufacturing, repair and cultural industries, credible economic geographical data assisted activists and sympathetic local decisionmakers by bringing to light the significance of existing spaces of work (especially in industrially zoned land) subject to rezoning plans. Contestation over massive real estate proposals continues in Sydney, but empirical research targeted at public debate has nevertheless already shifted the narrative. While academic privilege and expert status warrants intra-disciplinary critique, what also matters is whether, how and where economic geographers deploy expertise productively towards progressive ends. Hence, critically engaged economic geography flourishes in different forms beyond the discipline's imagined ‘core’ places, even via quite ‘dry’ empirical studies that on the surface do not declare radical intents. Economic geographers are key intermediaries circulating knowledges, active agents in making concrete manifestations of the economy known. And that is a crucial point of intervention.
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Hobbins, Peter G. "Serpentine Science: Charles Kellaway and the Fluctuating Fortunes of Venom Research in Interwar Australia." Historical Records of Australian Science 21, no. 1 (2010): 1. http://dx.doi.org/10.1071/hr09012.
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Australian medical research before the Second World War is predominantly viewed as an anodyne precursor to its conspicuous postwar successes. However, the expanding intellectual appeal and state support for local research after 1945 built upon scientific practices, networks, facilities and finances established between 1919 and 1939. Arguably the most prominent medical scientist working in Australia during this period was Charles Kellaway (1889?1952), director of Melbourne's Walter and Eliza Hall Institute from 1923 until 1944. Facing both financial challenges and a profoundly unsupportive intellectual climate, Kellaway instigated a major research programme into Australian snake venoms. These investigations garnered local and international acclaim, allowing Kellaway to speak as a significant scientific actor while fostering productive laboratory collaborations. The venom work spurred basic research in tissue injury, anaphylaxis and leukotriene pharmacology, yet delivered pragmatic clinical outcomes, particularly an effective antivenene. By selecting a problem of continuing public interest, Kellaway also stimulated wider engagement with science and initiated a pioneering ad hoc Commonwealth grant for medical research. In tracing his training, mentors and practices within the interwar milieu, this article argues that Kellaway's venom studies contributed materially to global biomedical developments and to the broader viability of medical research in Australia.
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Hou, Huiying, and Hao Wu. "What influence domestic and overseas developers’ decisions?" Journal of Property Investment & Finance 37, no. 2 (March 4, 2019): 153–71. http://dx.doi.org/10.1108/jpif-12-2018-0092.
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PurposeForeign firms entering into the domestic real estate industry and foreign investment control are significant in global hot markets such as Australia. Despite their market impact and policy sensitivity, developer choice is rarely studied. The purpose of this paper is to study domestic and overseas property developers for their motive and preference in response to market growth and market barriers including regulatory constraint.Design/methodology/approachInternational trade theory suggests local and overseas firms can vary significantly for their risk profile when engaging in location-specific development opportunities. Using a comprehensive decision factor system for the residential development process, the authors conducted an experimental survey to collect the prime data to measure stated preference of domestic and overseas developers in the context of the Melbourne residential market.FindingsResults suggest high consistency between the samples of domestic and overseas developers. Possible explanations include vertical integration by innovative contracting, strict regulatory constraint dictates domestic and overseas firms’ preference or sample selection bias. This micro-analysis of developer stated preference highlights their entrepreneurial ability to combine substitution and integration for innovative contractual strategy. This ability to join asset holding and project management enables firm flexibility to mitigate business risk in rapidly globalising capital and factor markets.Practical implicationsThese insights of firm-level decision making contribute to the decision literature of real estate developers and are relevant to the broader literature of industrial economics and international trade. Government may evaluate policy strategies based on the explicit entrepreneur (e.g. developer) preference for their “comparative advantage”.Originality/valueThis paper highlights developer’s ability to jointly consider investment and project management for decision making. It found that other than political cost such as national interest and domestic interest group pressure, domestic and overseas developers in the Melbourne residential market actually think quite alike. It suggests that irrespective of property ownership conditions, market integration occurs in the Melbourne residential sector.
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Self, P. "Federalism and Australian Local Government: Reflections upon the National Inquiry into Local Government Finance." Environment and Planning C: Government and Policy 5, no. 2 (June 1987): 123–35. http://dx.doi.org/10.1068/c050123.
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In 1984 the Hawke Government appointed a National Inquiry to review the federal revenue-sharing grants for local government introduced eight years previously, and to propose desirable aims and a basis for future federal support. Australian local government is on a small scale and closely under the control of state governments; federal support raises complex issues of intergovernmental relations. In this paper, the wide-ranging Report of Inquiry, and its political outcome, are related to basic issues about federal-state relations and the rationale and extent of federal interventions. In particular, the Australian experience is interesting for its attempts at combining vertical redistribution of revenue with ambitious and detailed equalisation policies, financed at federal level but administered by independent state agencies.
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Chang, Allan. "Analysis on corporate governance compliance standards in New Zealand – a qualitative study on disclosures using content analysis and interviews." Journal of Financial Regulation and Compliance 26, no. 4 (November 12, 2018): 505–25. http://dx.doi.org/10.1108/jfrc-12-2017-0115.
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Purpose This paper aims to provide more insights into the standard of corporate governance in New Zealand. The study intends to uncover how a small country with a well-developed economy with a good system of law and order, good institutional set up and law enforcements and implements the principles contained in the FMA’s corporate governance guidelines in practice. Design/methodology/approach The study is a mixed study one where it employs case study content analysis and augmented by conducting interviews. Large companies are selected to ascertain the level of compliance of NZ companies towards their obligations to report on corporate governance practices within the organisation. At the first stage, the study uses content analysis and looks at contents of company annual reports and publications on websites to determine whether they had disclosed as intended by New Zealand’s corporate governance guidelines. Findings The study found that a high compliance was recorded in areas such as board composition and board committees and low compliance recorded in areas involving costly implementation or when the issue is sensitive such as disclosures regarding remuneration details of directors and what non-audit work was undertaken and whether it compromises auditor independence. Being a small country, NZ has performed well in attracting foreign investment due to its strong tradition of law enforcement and respect for regulations. With greater awareness of the importance of corporate governance to investors, companies may see the benefit of greater compliance with the corporate governance guidelines. This is in line with the stakeholder theory and resource dependency theory where companies will voluntarily disclose information on corporate governance, social and environmental performance over and above mandatory requirements to appease and manage their stakeholders. Research limitations/implications The sample size of this study represents 3 per cent of total listed companies in New Zealand, but the sample is approximately 10 per cent of local NZ listed companies (i.e. not dual listed in Australia). There are 36 large companies in the New Zealand stock market with market capitalisation of 1 billion and above. In addition, the companies selected for this study are well-known in New Zealand, and it is acknowledged that this can be a source of bias in my analysis. Practical implications As was revealed during the interviews with company’s senior officials, Australian companies have achieved a higher level of compliance with the code of corporate governance. In this regard, New Zealand will have to step up and follow Australia’s lead to ensure greater compliance with the New Zealand corporate governance principles and guidelines. It would be in the best interest of the company’s stakeholders if full compliance is achieved. Originality/value Studies on the level of compliance by New Zealand companies on their obligations to meet the full extent of disclosures as stipulated by the New Zealand corporate governance guidelines are rare. This study aims to ascertain the standard of corporate governance reporting in New Zealand and the company’s seriousness to comply or attempt to meet the requirements in the seven stipulated principles.
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Tokunaga, Yuko. "Financing a mega LNG project and ‘raising the bar' in securing a social licence to operate." APPEA Journal 58, no. 2 (2018): 753. http://dx.doi.org/10.1071/aj17233.
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A significant part of the development funds for the INPEX-operated Ichthys liquefied natural gas (LNG) Project comes from a record-breaking US$20 billion project financing package, which involves commitments from eight export credit agencies and over 24 global banks. Due to the scale and complexity of the project and the size of the investment, there is a high level of ongoing scrutiny by the project’s lenders with a particular focus on social and environmental performance. Financing from lenders demanded extra requirements to obtain and maintain the project’s social licence. This included a commitment to ensure the project’s plans for managing environmental and social issues met additional obligations, including International Finance Corporation’s Environmental and Social Performance Standards. While these extra commitments posed some challenges, they have also supported INPEX and the project to improve its approach in engaging and working with local communities, including Aboriginal and Torres Strait Islander peoples, in the areas in which the project operates. The auditing of these requirements also provided independent and objective performance reviews that have supported INPEX and the project to continuously improve performance. The requirements have also encouraged INPEX to engage effectively and more openly with stakeholders to further develop and deepen positive and trusted relationships with key stakeholders. Through delivering on commitments to lenders, INPEX has raised the bar, to deliver higher standards of social performance. This has reaffirmed the Company’s commitment to community and social engagement and strengthened our performance within Australia, by adopting best practice approaches.
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Degiannakis, Stavros, and Apostolos Kiohos. "Multivariate modelling of 10-day-ahead VaR and dynamic correlation for worldwide real estate and stock indices." Journal of Economic Studies 41, no. 2 (March 4, 2014): 216–32. http://dx.doi.org/10.1108/jes-06-2012-0082.
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Purpose – The Basel Committee regulations require the estimation of value-at-risk (VaR) at 99 percent confidence level for a ten-trading-day-ahead forecasting horizon. The paper provides a multivariate modelling framework for multi-period VaR estimates for leptokurtic and asymmetrically distributed real estate portfolio returns. The purpose of the paper is to estimate accurate ten-day-ahead 99%VaR forecasts for real estate markets along with stock markets for seven countries across the world (the USA, the UK, Germany, Japan, Australia, Hong Kong and Singapore) following the Basel Committee requirements for financial regulation. Design/methodology/approach – A 14-dimensional multivariate Diag-VECH model for seven equity indices and their relative real estate indices is estimated. The authors evaluate the VaR forecasts over a period of two weeks in calendar time, or ten-trading-days, and at 99 percent confidence level based on the Basle Committee on Banking Supervision requirements. Findings – The Basel regulations require ten-day-ahead 99%VaR forecasts. This is the first study that provides successful evidence for ten-day-ahead 99%VaR estimations for real estate markets. Additionally, the authors provide evidence that there is a statistically significant relationship between the magnitude of the ten-day-ahead 99%VaR and the level of dynamic correlation for real estate and stock market indices; a valuable recommendation for risk managers who forecast risk across markets. Practical implications – Risk managers, investors and financial institutions require dynamic multi-period VaR forecasts that will take into account properties of financial time series. Such accurate dynamic forecasts lead to successful decisions for controlling market risks. Originality/value – This paper is the first approach which models simultaneously the volatility and VaR estimates for real estate and stock markets from the USA, Europe and Asia-Pacific over a period of more than 20 years. Additionally, the local correlation between stock and real estate indices has statistically significant explanatory power in estimating the ten-day-ahead 99%VaR.
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Praveena, Dr S. Mary, B. Akshaya, BB Devipriya, C. Divya, and K. Mirudhula. "FOREST FIRE DETECTION USING DRONE." International Journal of Engineering Applied Sciences and Technology 6, no. 7 (November 1, 2021): 110–13. http://dx.doi.org/10.33564/ijeast.2021.v06i07.018.
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Forest fires are a major reason behind forest degradation and have wide ranging adverse ecological, economic and social impacts, including loss of valuable timber resources, degradation of catchment areas, loss of biodiversity and extinction of plants and animals. In the recent times forests of Amazon and Australia faced a serious a threat to both wildlife and mankind. It also caused an enormous loss to both the countries. This paper describes early detection of fire by sectionally dividing the forest for efficient monitoring. The flame sensor is used to detect fire and a drone is employed as a mobile object which monitors the respective section. This drone travels from one pole to a different every alternate hour and gets charged while it's on a pole, because the pole has solar array. There is a timer also used at the poles which indicate the time of arrival and time of departure of the drone. The transponders are accustomed receive and transmit the signals. By this detection the nearby department of local government can get the precise location of the wildfire and early measures will be taken accordingly
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Salin, Ahmad Saiful Azlin Puteh, Zubaidah Ismail, Malcolm Smith, and Anuar Nawawi. "The influence of a board’s ethical commitment on corporate governance in enhancing a company’s corporate performance." Journal of Financial Crime 26, no. 2 (April 1, 2019): 496–518. http://dx.doi.org/10.1108/jfc-04-2018-0035.
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Purpose The purpose of this paper is to examine the relationship between corporate governance and company performance and how a board’s ethical commitment can influence this relationship. Prior studies documented mixed evidence on the corporate governance and corporate performance relationship, which can be due to the influence of a board’s ethical commitment and will shape the corporate governance mechanism in the company and, in turn, influence performance. Design/methodology/approach This study collected data for two years, i.e. 2013 and 2014, from the biggest 500 Malaysian companies listed in the stock exchange. Corporate governance is measured based on the requirements of the Malaysian Code of Corporate Governance (MCCG), while a board’s ethical commitment is measured based on the MCCG and various international best practices. Corporate performance is measured based on return on equity, return on assets, net profit margin, market-to-book value and TobinQ. Findings A board’s ethical commitment was found to be significant in increasing the strength of the relationship between corporate governance and corporate performance. The findings are robust to the alternative performance measurements and lagged one-year corporate performance. Research limitations/implications This paper provides further evidence on the importance of ethical practices to improve corporate environment and, hence, sustain a company’s performance. This study, however, was conducted on only large companies with a limited data collection period. Practical implications This study provides an indicator that the policymaker and regulatory authorities need to double their efforts in promoting and encouraging a board of directors to take a bold step in improving its ethical culture. Shareholders and investors need to use their power and rights to demand the company to improve their governance and ethical practices. Originality/value This study is original, as it measures a board’s ethical commitment from various sources of local and international best practices such as Malaysia, Australia, Canada, Norway, South Korea, Singapore, Sweden, Turkey, the UK and the USA. It also contributes to the literature and theoretical understanding of the interaction between a board’s ethical commitment and corporate governance on corporate performance, particularly in developing countries like Malaysia, which is scarce in the literature.
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Xiang, Dong, and Andrew C. Worthington. "The impact of government financial assistance on the performance and financing of Australian SMEs." Accounting Research Journal 30, no. 4 (November 6, 2017): 447–64. http://dx.doi.org/10.1108/arj-04-2014-0034.
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Purpose This paper aims to examine the impact of government financial assistance provided to Australian small and medium-sized enterprises (SMEs). Design/methodology/approach This study uses firm-level panel data on more than 2,000 SMEs over a five-year period from the Business Longitudinal Database compiled by the Australian Bureau of Statistics. The authors measure the impact of government financial assistance in terms of subsequent SME performance (income from sales of goods and services and profitability) and changes in the availability of alternative nongovernment finance. Findings The authors find government financial assistance helps SMEs improve performance over and above the effects of conventional financing. They also find than the implicit guarantee effect signalled by a firm receiving government financial assistance suggests firms are more likely to obtain nongovernment finance in the future. Control factors that significantly affect SME performance and finance availability include business size, the level of innovation, business objectives and industry. Research limitations/implications Nearly all of the responses in the original survey data are qualitative, so we are unable to assess how the strength of these relationships varies by the levels of assistance, income and profitability. The measure of government financial assistance of the authors is also general in that it includes grants, subsidies and rebates from any Australian Government organisation, so we are unable to comment on the impact of individual federal, state or local government programmes. Practical implications Government financial assistance helps SMEs improve both immediate and future performance as measured by income and profitability. This could be because government financial assistance quickly overcomes the financial constraints endemic in SMEs. Government financial assistance also helps SMEs obtain nongovernment finance in the future. The authors conjecture that this is because it overcomes some of the information opaqueness of SMEs. Originality/value Few studies focus on the impact of direct government financial assistance compared with indirect assistance as typical in credit guarantee schemes. The authors use a very large and detailed data set on Australian SMEs to undertake the analysis.
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Pulla, Venkat Rao, and Kalpana Goel. "Globalisation: Rethinking Development in the Context of the Pandemic." Space and Culture, India 10, no. 3 (November 28, 2022): 134–42. http://dx.doi.org/10.20896/saci.v10i3.1268.
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The stark reality of human existence with a predictable 90 per cent of most reported cases emerging from these showcases of development, urbanisation, and industrialisation — our cities and towns tell us something that we cannot ignore. The cities took the brunt and revelled as the epicentres of the pandemic and a public health disaster, with the lockdowns remaining prolonged, severe, and even punitive in many cities of the world. We discuss here, the impacts of unprecedented crisis as we continue to rely on a globalised economy, and gaze at the helplessness with which the state handles our lives and appears to compromise our destinies through in a market full of uneven players. COVID-19 first hit the global power centres, the developed nations, and the business capitals in developing countries. Excited holidaymakers cruising passenger returnees from Ruby Princess began infecting others and those others infected capital cities like Sydney and Melbourne, Australia. It is intriguing and highly disturbing that how responsibility for a disease that travelled across borders with passports and through commercial airlines came to be laid at the poor of Mumbai’s slums or Brazil’s favelas. It is really the well-off and the powerful who seem to rule the roost in cities. The density of populations in urban habitats and the intensity of local and global interconnectivity have made these urban habitats clearly more vulnerable to the spread of the virus. Be it the social housing that is vertical for low-income earners in Melbourne or the urban sprawls of Dharavi, Mumbai; evidence suggests that density per se correlated to higher virus transmission.
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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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Boon, Kym, Susan Crowe, Jill McKinnon, and Philip Ross. "Compulsory Audit Tendering and Audit Fees: Evidence from Australian Local Government." International Journal of Auditing 9, no. 3 (November 2005): 221–41. http://dx.doi.org/10.1111/j.1099-1123.2005.00288.x.
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Tan, Michael Ngee Tiong. "Foreign investments in China's local banking sector – the Australian experience." China Economic Journal 2, no. 2 (September 2, 2009): 209–17. http://dx.doi.org/10.1080/17538960903083525.
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Bowden, Bradley. "An exploration into the relationship between management and market forces." Journal of Management History 23, no. 3 (June 12, 2017): 297–314. http://dx.doi.org/10.1108/jmh-12-2016-0062.
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Purpose Are business outcomes due primarily to entrepreneurial and managerial ability or are they mainly the result of business content? The purpose of this study is to explore this question by comparing the railroads of Victoria and Queensland (Australia) and the South-West and Northern Plains of America between 1881 and 1900. Given the commonalities of the four railway systems in terms of their economic orientation towards rural custom, and their marked difference in terms of ownership, one would expect similarities in their financial circumstances if outcomes were primarily determined by fluctuations in global commodity markets. Conversely, marked differences would be expected if outcomes primarily resulted from managerial initiative. Design/methodology/approach Conceptually, this study is informed by the idea that social and economic outcomes are shaped by long historical movements, with meaningful structural change occurring rarely but to great effect. In exploring this concept through a comparison of the railways of Australia and the American West, the study draws on two forms of archival evidence. One source of evidence relates to railroad management, operations and finances. Figures cited come primarily from Australian railway commissioners’ reports and Poor’s Manual of the Railroads of the USA. The other source of evidence relates to agricultural statistics. These are drawn from official reports. Findings This study argues that effective strategic decision-making can only occur if we understand the structural changes that alter our world. In the late nineteenth century, the Australian and American railroads servicing newly settled rural regions were financial failures because management failed to appreciate the structural changes that the revolution in steam-powered transport had initiated; a revolution which resulted in commodity prices – and hence, the railway rates for farm produce – being determined by global demand and supply balances rather than by local factors. As a result, they continued a policy of expansion that was no longer financially justified. Originality/value This study seeks to contribute to a fundamental debate in historical studies and management about the drivers of social and economic change. Increasingly, there is acceptance of the view that historical circumstances are inherently unstable and what counts is the particular change cascading through a myriad of “events”. This study points in a contrary direction, suggesting that business outcomes are primarily determined by deep structural shifts that can be understood and steered but seldom opposed.
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Dollery, B. E. "A critical appraisal of the Western Australian local government review panel’s recommendations." Economic Analysis and Policy 71 (September 2021): 434–38. http://dx.doi.org/10.1016/j.eap.2021.06.010.
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Laurenceson, James, Hannah Bretherton, Paul F. Burke, and Edward Wei. "Chinese investment in Australian infrastructure assets: accounting for local public preferences." China Economic Journal 12, no. 1 (November 16, 2018): 77–92. http://dx.doi.org/10.1080/17538963.2018.1543792.
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DOLLERY, BRIAN, MARK STEWART, and ANDREW WORTHINGTON. "AUSTRALIAN FISCAL FEDERALISM: AN EMPIRICAL NOTE ON LONG-TERM TRENDS IN STATE AND LOCAL GOVERNMENT FINANCE, 1969/70 TO 1994/95." Economic Papers: A journal of applied economics and policy 19, no. 3 (September 2000): 16–27. http://dx.doi.org/10.1111/j.1759-3441.2000.tb00963.x.
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Mills, Andrew, Kelly Reilly, Timothy Lim, and Glen Strike. "Maximising ROI through risk based inspection in the CSG industry." APPEA Journal 57, no. 2 (2017): 511. http://dx.doi.org/10.1071/aj16201.
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Australia is forecast to become the world’s largest exporter of liquefied natural gas (LNG) by 2018, and to date, $70 billion has been invested into the Queensland coal seam gas (CSG) industry. These projects consist of tens of thousands of wells, each with a local facility to separate water and gas. From the separation facility, CSG is transported to compression and dehydration stations and water treatment facilities through numerous networks. Spread over an extremely large geographical area, this huge asset count presents a significant challenge to operations and maintenance personnel. Within Australia, regulation requires operators to inspect new pressure containing assets within the first year of operation. Maintaining compliance with these regulations presents significant costs of finances, time and manpower for operators. Furthermore, travelling to these remote sites for inspection increases the risk of driving accidents, currently the number one safety risk for personnel. This paper will address these challenges and discuss potential strategies for the optimisation of plant inspection and maintenance management. We will discuss how Wood Group has delivered innovative solutions to operators utilising technical engineering expertise, operational experience, understanding business constraints and delivering maximum return on investment (ROI).
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Stewart, Jenny, Pamela Kent, and James Routledge. "The Association between Audit Partner Rotation and Audit Fees: Empirical Evidence from the Australian Market." AUDITING: A Journal of Practice & Theory 35, no. 1 (June 1, 2015): 181–97. http://dx.doi.org/10.2308/ajpt-51173.
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SUMMARY We examine the relation between audit partner rotation and audit fees for a sample of Australian firms from 2007 to 2010. We find a significant positive association between audit fees and partner rotation in the year of rotation. The association persists in the first year post rotation and to a lesser extent in the second year post rotation. Our analysis suggests that higher audit fees are associated with both mandatory and voluntary partner rotation. However, when we divide the sample into large global clients, mid-level clients, and small local clients, we find that mandatory and voluntary rotation are associated with higher audit fees for large global clients, while only voluntary rotation is associated with higher audit fees for small local clients. We do not find an association between partner rotation and audit fees for mid-level clients. Our study suggests that the extent to which firms are able to pass on the costs of partner rotation varies across different segments of the audit market.
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Nguyen, Pascal, Younes Ben Zaied, and Thu Phuong Pham. "Does idiosyncratic risk matter? Evidence from mergers and acquisitions." Journal of Risk Finance 20, no. 4 (August 19, 2019): 313–29. http://dx.doi.org/10.1108/jrf-03-2018-0040.
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Purpose This paper aims to investigate whether idiosyncratic volatility is a priced risk factor in the Australian stock market. Design/methodology/approach The authors use the change in idiosyncratic volatility around acquisition announcements and the related stock price revaluation to test whether the idiosyncratic risk is priced. If the idiosyncratic risk is priced, increases (decreases) in idiosyncratic volatility should be associated with decreases (increases) in the acquirer’s stock price, as the latter’s future cash flows are discounted at a higher (lower) rate. The sample consists of 2,656 completed acquisitions by Australian listed firms over the period January 1990 to October 2014 for which deal value represents more than 5 per cent of the acquirer’s market value. Findings Increases (decreases) in idiosyncratic risk are associated with significant decreases (increases) in firm value. This negative relationship is robust to the presence of outliers; is unaffected by the incidence of the 2007-2008 financial crisis; holds using alternative measures of idiosyncratic risk; and is more significant after excluding the resources sector. Firms with a higher idiosyncratic risk prior to the acquisition, and firms avoiding stock to pay for the acquisition, experience a more significant stock price increase in relation to a decrease in idiosyncratic risk. Research limitations/implications Considering the small size of the Australian economy, investors may have less scope to mitigate idiosyncratic risk. As a consequence, idiosyncratic risk is associated with the positive excess return, contrary to what standard asset pricing theory assumes. The results support Merton’s (1987) hypothesis that investors are exposed to idiosyncratic risk due to imperfect portfolio diversification and receive compensation for bearing that risk. Practical implications The pricing of idiosyncratic risk may also explain why the Australian stock market has historically offered a high equity risk premium. A practical implication would be for international investors to take advantage of the diversification constraints of local investors to capture higher risk premiums and achieve superior returns. Originality/value While prior studies demonstrate that stocks with higher idiosyncratic risk are associated with higher subsequent returns, the authors show that an increase in idiosyncratic risk is associated with a decrease in stock prices using acquisition announcements as shocks to a firm’s idiosyncratic risk. In other words, the results arise from within-firm variations rather than from cross-sectional differences in stock returns.
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Rossini, Peter, and Valerie Kupke. "The socio spatial substructure of the Australian city: how well does it explain house price?" International Journal of Housing Markets and Analysis 8, no. 1 (March 2, 2015): 53–72. http://dx.doi.org/10.1108/ijhma-02-2014-0004.
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Purpose – This paper aims to show how social and economic differentiation that has become a feature of Australian cities and the urban housing literature emphasises the value in understanding such differentiation as an explanation of housing demand. Design/methodology/approach – Using a consistent set of variables from the 2011 ABS Census of Housing and Population, this paper uses factor analysis to identify the socio spatial substructure of housing markets at suburb level for five mainland Australian cities. Findings – The relative importance of this socio substructure in explaining median house price is determined for each city. The paper also identifies where the socio spatial structure is mismatched against expected house price and an explanation is offered for these anomalies. Originality/value – The study is innovative in that it reveals, at suburb level, districts in each city where there is a marked divergence between the prices being paid for property and the socioeconomic makeup of the local community.
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Vitelli, J. S., and J. L. Pitt. "Assessment of current weed control methods relevant to the management of the biodiversity of Australian rangelands." Rangeland Journal 28, no. 1 (2006): 37. http://dx.doi.org/10.1071/rj06016.
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The Australian rangelands contain extensive and often dense populations of a wide variety of weed species. An array of techniques is available for effectively controlling many of these. To achieve long-term weed control, weeds should be targeted objectively and the dependence on the use of single treatments such as herbicides and machinery reduced, with greater adoption of integrated methods. The combination of methods will differ if the primary objective within the rangelands is to restore and maintain biodiversity or to improve forage production for domestic and native animals. Revegetation of sites and exclusion of herbivores from weed treated areas is important in establishing species that will compete with invasive weeds. Due to rangelands being sparsely populated, the necessary equipment, skills and finances to use appropriate control options on extensive weed infestations are often lacking, with landholders requiring the assistance of local, state and federal authorities to assist in managing weeds.
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Kaur, Amanpreet, and Sumit Lodhia. "Stakeholder engagement in sustainability accounting and reporting." Accounting, Auditing & Accountability Journal 31, no. 1 (January 15, 2018): 338–68. http://dx.doi.org/10.1108/aaaj-12-2014-1901.
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Purpose The purpose of this paper is to examine how stakeholders are engaged in the sustainability accounting and reporting processes of Australian local councils. Design/methodology/approach Managerial stakeholder theory through the use of the notion of stakeholder salience provides a theoretical basis for exploring stakeholder engagement in the sustainability accounting and reporting process. Case study research was used to explore the stakeholder engagement practices of three Australian local councils. Data collection methods included interviews and document analysis. Findings The findings of this research identified the importance of stakeholder engagement in the entire sustainability accounting and reporting process, the development of strategic plans and sustainability indicators, the measurement of sustainability performance and the preparation of sustainability reports. Research limitations/implications This study, by integrating the sustainability accounting and reporting literature with the stakeholder salience concepts of power, legitimacy, urgency and proximity, illustrates the critical role of stakeholder engagement in the sustainability accounting and reporting process of three local councils. Practical implications This study has implications for public sector organisations (PSOs) and their stakeholders in relation to stakeholder engagement in sustainability accounting and reporting. The findings of this study will also be useful to corporations in understanding the importance of stakeholder engagement in sustainability accounting and reporting. Social implications The public sector is expected to be a leader in sustainability and this paper provides evidence of three councils who through their stakeholder engagement provide exemplars of useful practices that could be adopted by other entities. Originality/value Prior research in PSOs has primarily focused on the sustainability accounting and reporting process but has given limited consideration to the involvement of stakeholders. The focus on stakeholder engagement through the use of managerial stakeholder theory extends the role of stakeholders from merely being an audience for sustainability reports to an influential contributor in the sustainability accounting and reporting process.
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Charters, Ben, and Troy Heffernan. "A conceptual model identifying apartment owners' attitude formation towards solar photovoltaic (PV) adoption." Property Management 39, no. 3 (March 15, 2021): 325–42. http://dx.doi.org/10.1108/pm-08-2020-0049.
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PurposeThis paper addresses the current lack of solar photovoltaic (PV) adoption by Australian apartment dwellers by proposing a conceptual model that identifies and integrates the factors influencing owners' attitudes towards PV adoption.Design/methodology/approachThe conceptual model, which this paper terms the apartment-based solar adoption (ASA) model, is developed by applying motivation–opportunity–ability (MOA) theory to relevant findings in property development, green energy and strata governance literature.FindingsThe ASA model demonstrates the process by which an apartment-owning consumer may progress from considering solar PV adoption to recommending the action to their strata property's Owners' Committee (OC). It incorporates three motivational drivers (pragmatic considerations, perceived values and perceived social norms), three conditional mediators (location accessibility, resource availability and decision-making conditions) and three requirements from the consumer (actual and perceived knowledge, the ability to participate in decision-making and social connections and status).Research limitations/implicationsThis article contributes originality to research on two counts. Firstly, it provides a conceptual framework of specific relevance to issues concerning solar PV adoption, and secondly, it offers a systematic means for research into strata governance decision-making. Further research is required to develop the means with which to utilise the model prescriptively and measure longitudinal effects, such as ongoing trends in apartment owners' motivations. Further research is also recommended into how the ASA model may be utilised to identify generalisable consumer typologies among apartment owners.Practical implicationsThe ASA model may assist building maintenance providers in developing and marketing solar PV services tailored to apartment residents' requirements and enhance strata managers' ability to inform and guide apartment owners. In turn, property developers would be able to review apartment-based solar projects, measure their increased value and decreased energy costs and incorporate this information when planning future developments.Social implicationsThe ASA model may provide a template for apartment owners and owners' corporations considering solar PV for their property. Public policymakers could also refer to the model to incentivise apartment-based solar PV adoption, whether through designing local information campaigns, developing financial incentives or mitigating identified regulatory barriers. By facilitating solar PV adoption in Australian apartment housing, the model may ensure sustainable post-carbon energy consumption for Australia's housing stock and act as an example for high-density housing development internationally.Originality/valueThe ASA model addresses the many drivers and barriers known to affect solar PV adoption by apartment owners, presenting a framework on which to arrange these factors and outline their causal relationships. This framework may inform strata properties' future solar PV adoption initiatives by incorporating their specific physical characteristics, stakeholder dynamics and institutional structure. It also consolidates and provides generalisability to the concepts established in current literature.