http://www.researchonline.mq.edu.au/vital/access/services/Feed ${session.getAttribute("locale")} 5 http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:24616 Conflicts of interest are a key factor in the contemporary decline of trust in government and public institutions, eroding public trust in government and democratic systems. Drawing on two unique empirical studies involving policing and the broader public sector, this paper explores the meaning and dimensions of conflict of interest by examining public complaints about conflict of interest and providing distinctive insights into the nature of conflict of interest as a problem for public sector ethics. The paper analyses and explores appropriate regulatory and management approaches for conflict of interest, focusing on three elements: (1) dealing with private interests that are identifiably problematic in the way they clash with the duties of public officials; (2) managing conflicts as they arise in the course of public sector work (manifested in preferential and adverse treatment, and other problematic areas); and (3) developing ethical and accountable organisational cultures. It is concluded that effective and meaningful public sector ethics in the pursuit of the public interest must be based on an ethos of social accountability and a commitment to prioritise the public interest in both fact and appearance. 2013-03-11T21:12:07.622Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:24637 The international accounting literature pays much attention to the clustering of national accounting systems of various countries based on similar financial reporting characteristics. In this paper, we argue that the existing models that cluster countries are substantially incomplete and misleading due to the recent convergence efforts that have taken place. We identify the factors that may be causing differences in both the de jure and de facto aspects of comparability in financial reporting across countries in the post-convergence period. Using four countries from the South Pacific region (Australia, New Zealand, Papua New Guinea and Fiji), we identify three dominant factors that still act as constraints in accounting convergence. These include: (1) the nature of business ownership and the financial system, (2) culture, and (3) the level of accounting education and the experience of professional accountants in each of the different countries. We argue that national and international regulators need to work towards reducing these remaining differences across countries to achieve the objectives of accounting convergence. 2013-03-11T21:11:34.498Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:24663 Research Question/Issue: This study investigates the association between the composition of the board of directors and corporate diversification, to explore the role of the board in corporate strategic choice. Research Findings/Insights: Based on a sample of 101 Australian publicly listed firms in 2005, this study finds that there is no link between corporate decisions on product and/or geographic diversification and two aspects of board composition: board independence and institutional representation. However, there is a positive link between total diversification and a third aspect of board composition: the proportion of directors who have ties to boards of corporations in other industries. Theoretical/Academic Implications: The results provide support for managerial hegemony theory, and resource dependency theory. Corporate strategic decisions regarding diversification are more likely to be made by management than boards of directors, and to be encouraged by interlocking directors with extraindustry ties. Practitioner/Policy Implications: Contrary to the requirement or recommendation in many jurisdictions that boards be more independent, these results indicate that shareholders' interests, represented by lower levels of diversification, are not promoted under such circumstances. Interlocking directors appear to effectively link the corporation to the external business environment and to encourage diversification. Existing recommendations and regulations to align management with shareholders' interests through independent boards should be revised. Board composition should also consider director's knowledge, relevant expertise, availability and length of tenure. 2013-03-11T21:10:43.398Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:24666 The identification of tax risk management, as part of good corporate governance practices, requires directors to consider the tax risk profile that the corporation will adopt and to put in place systems and procedures that ensure the level of tax risk complies with corporate policy. Director's duties and corporate tax compliance behaviour are linked through the tax risk management policies of the corporation. In this paper, Catriona Lavermicocca discusses the impact of the corporate structure on an understanding of tax compliance behaviour, identifies the pressures on large Australian corporations to adopt a tax risk management system and considers the expected impact on corporate tax compliance behaviour. 2013-03-11T21:10:40.339Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:24582 Purpose - The purpose of this paper is to examine cross-sectional differences in the profits, returns and risk of high- and low-market-to-book ratios (M/B) stocks before and after the initiation of regular cash dividend payments. Design/methodology/approach - This study uses parametric and non-parametric statistics and ordinary least squares regression to test for differences in the profits, returns and risk of high- and low-M/B stocks before and after dividend initiation. Findings - Low-M/B stocks display the most positive price reaction to dividend initiation announcements. High-M/B firms have larger profits, cash levels and capital expenditure before and at the time of dividend initiation, but more closely resemble the low-M/B firms in terms of these characteristics within three years following dividend initiation. Excess returns earned by low-M/B firms are related to decreases in systematic risk, while the returns of high-M/B firms are related to their higher profitability. Research limitations/implications - Averaging results from 1965-2000 does not account for possible changes in the information content of dividend initiations over time (as evidenced by steadily declining dividend yields over this period). Practical implications - The findings are consistent with the idea that firms begin paying dividends as they are maturing into a slower growth period, and do not support the idea that dividend initiation signals faster future earnings growth. Originality/value - The analysis adds to the body of knowledge by explicitly conditioning the expectations from various dividend theories based upon individual firms' growth phase as reflected in their M/B ratios, and suggests that signaling, agency and risk explanations for dividends must be considered jointly with a firm's growth prospects when studying dividend events. 2013-03-06T08:01:14.861Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:24601 Listing on a stock exchange is one of the most significant events in a company's life cycle. Using a case study approach we examine why companies in Fiji list on a stock exchange. The various factors that have been found to motivate companies to list include enhancing their image and reputation, increasing the firm's value and introducing better financial and managerial practices. Importantly, the accessing of new sources of finance has not been a determinant of a company's listing decision. The findings imply that in emerging economies, stock exchange listing can be perceived as a status symbol. 2013-03-06T08:00:14.494Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:23587 The seizure by Somali pirates of the Saudi-owned VLCC, the Sirius Star, with its crew, in November 2008, captured international attention. Across the world, regular updates were given and the ransom demands discussed and debated in the press. Dramatic footage was shown on national television of the payment of the ransom by parachute and footage of the debacle which followed where some of the pirates were drowned. Until then, most of the non-shipping world thought of pirates as the romantic buccaneers aka Hollywood. However, the cost of piracy to industry and its impact on international trade cannot be ignored. There are potential geopolitical repercussions. Despite international efforts, piracy in this region threatens to put a chokehold on one of the world's busiest shipping arteries. Shipping lines are taking decisions to avoid the area, rerouting via the Cape of Good Hope. This article provides a methodology to measure the costs of piracy from the shipping company's perspective by taking a comparative voyage costing approach. 2013-01-06T23:20:10.218Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:23189 This paper uses neo-institutional theory to exzmine the rise and fall of performance indicators adopted as an element of public accountability by Australian universities. We argue that performance indicators were adopted as a symbolic gesture to satisfy the need for externally conferred legitimacy and to demonstrate accountaiblity to various stakeholders through publication in the university's annual report. Also, because adoption was symbolic and universities were coereced by the Australian Federal Government, the rporting was curtailed when the coercive pressures were relxed or removed. 2012-12-03T09:20:36.838Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:23200 New postgraduate business programs were introduced at an Australian university in the period 1999-2001. These programs were made available to students from business and non-business education backgrounds with non-business students being required to complete a preliminary program. The academic performance of students in the postgraduate programs was assessed to determine whether students from a non-business background and required to complete a preliminary program achieved grades that were at the same level as those achieved by students with a business background. The outcome of this analysis is relevant for assessing the decision to open postgraduate business programs to non-business students and for assessing the effectiveness of the preliminary program as a means of preparing non-business entrants for a postgraduate business degree. More generally, there is merit in profiling successful postgraduate students for the determination of marketing and recruitment policy based on the premise that a university prefers to enrol students with a high chance of superior academic success. Therefore, other variables besides academic background that could be relevant to postgraduate success were examined as well. These variables were English proficiency, gender, age and country of origin. This study of 1,049 graduates from the years 2004 and 2005 found that students from a non-business education background who completed a preliminary program performed as well in the postgraduate program as students from a business background admitted directly into the postgraduate program. English proficiency was found to be significantly associated with academic achievement. There is some evidence that age and country of origin are also associated with academic performance. Gender, however, was found not to be related to academic performance. 2012-12-03T09:20:16.129Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:22934 A key aim of IFAC (International Federation of Accountants)'s International Education Standard 4 (IES4) is to raise the ethical awareness of candidates preparing for careers as accounting professionals. This paper reports the results of a survey of undergraduate accounting students at an Australian university, and develops an approach for the implementation of IES4 in business schools with culturally diverse student populations. The survey asks students at different stages of their programs about the contribution of tertiary education to their ethical ideas, drawing conclusions based on their culture, year of study, career intentions, age and gender. It then suggests ways of teaching ethics that value and integrate students' diverse experiences and cultural backgrounds, as well as their existing knowledge. Such initiatives could expand the horizons of students from all cultural backgrounds by increasing their cultural sensitivity and awareness of ethics as an issue of relevance to their professional careers. 2012-11-21T09:21:44.280Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:22806 This paper provides an exploratory study of how socially responsible Australasian banking corporations are and if recent events, such as the global financial crisis, have enabled them to learn lessons in regards to responsible lending practice. Evidence was gained primarily through an analysis of corporate disclosures of two major Australasian banking corporations operating in New Zealand. The data were analysed to see if a change in lending practice occurred to be more in line with corporate social responsibility (CSR). The findings suggests a strong verbal commitment to CSR by the banking corporations, even through tough economic times. However, only when specific goals, achievements and their relation to the overall sustainability agenda are disclosed in a consistent and continuous manner, will real social and responsible banking practice occur. This paper adds to the limited literature of CSR reporting in the financial sector, informing from a public policy perspective on disclosure of banking corporations’ lending practices, thus contributing to a global dialogue on CSR within the financial industry. 2012-11-13T02:40:10.386Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:21967 Historical VaR: a methodological approach for measuring expected losses in pesos in the Colombian indexed inflation mortgage market. The objective of this proposal is to provide useful information to the clients of the Colombian mortgage market from the perspective of financial risk. This is done for the purpose of giving the client a complete understanding of the implied financial risks in inflation adjusted mortgages. Our proposal suggests that it is possible to measure and quantify the risk incurred by the users of the Colombian mortgage market based on historical VaR. 2012-10-10T05:51:51.780Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:12049 This paper chronicles the journey of two projects that sought to incorporate principles of sustainable development into predominantly technical postgraduate accounting curricula. The design and delivery of the projects were informed by Freirian principles of praxis and critical empowerment. The first author introduced sustainability-related material into a core technical accounting unit and created an elective unit. The second author participated with students to evaluate critically social reports of employers, current and potential. In terms of an objective of bringing reflexivity into the classroom, both projects were marked by some success, but efforts to create permanent curriculum change were hampered by the predominantly vocational orientation of student cohorts. In addition, the traditionally technical focus of the professional bodies and competing educational reform agendas (such as vocational skills) add to the difficulties for sustainability in penetrating already overcrowded curricula. 2012-10-08T05:10:58.214Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:21691 The purpose of this paper is to investigate the corporate social responsibility (CSR) reporting information of Bangladeshi listed commercial banks and explores the potential effects of corporate governance (CG) elements on CSR disclosures. 2012-09-26T12:51:54.481Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:21399 Boards are exploring ways to report the value of intangible assets to investors. This paper explores human capital reporting and notes human capital is not reported within or between industry sectors in a standardised way. As a further development in a suite of models, we propose a framework, the Star Model, as a step in the standardisation of interpreting and reporting on human capital to investors. In developing this model, the authors question whether human capital reports should be industry specific, given that the human capital drivers of value vary across industry groups. For the knowledge-intensive biotechnology industry in particular, there may be a case for parallel forms of news flow from Boards to markets: technical news, financial news and human capital news. We conclude that more empirical research into human capital analysis and reporting in other industry sectors will be needed. 2012-09-13T12:01:24.476Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:21219 352 page(s) 2012-09-06T23:10:45.400Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:21127 This paper describes the context in which a deeper 'dialogue' between Boards and the capital markets can be facilitated through more systematic human capital analysis, particularly in knowledge-intensive environments. Human capital is defined as management systems which are designed for people within the firm to execute strategy, and which, ideally, are internally consistent and consistent with the broader strategic direction of the firm (Royal and O'Donnell, 2003). This quest for deeper dialogue will require the HR profession to respond to the new information needs of capital markets. This may involve a process whereby HR professionals become interpreters of human value creation, becoming, in effect, internal human capital analysts. In anticipation of an imminent global shift in the role of human capital information in investment decisions, the Star Model of human capital analysis (O'Donnell, Kramar, and Dyball, in preparation) is presented as one framework which can be used by HR professionals to deepen dialogue on the trajectory of human capital value within knowledge-intensive listed firms. 2012-09-04T21:55:16.548Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:21048 This paper presents stories to describe the personal and social lifeworlds of ‘Bill’, a typical academic employed in an autonomous graduate school of business in 2002-2003. The stories are based on interviews with 21 academics in three autonomous graduate schools of business. This is the first stage in a two stage longitudinal research study investigating the tensions between academic values and the corporatisation of higher education. The second stage of the research is currently being undertaken and will be incorporated into the final paper, hence the paper concludes with the issues to be examined in the second stage of the project. 2012-08-27T10:40:59.971Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:21058 The paper questions whether the Australian Higher Education System has been colonised away from the traditional ‘idea of a university’ as a social institution to a new identity as an economic institution. Adapting concepts based on Habermas’ critical theory to the level of an organisation, a framework for analysing organisational change is applied to higher education to examine the question of colonisation. While judgments of colonisation have been made on the bases of the magnitude of external pressures and the types of changes within the system, the type of change is less certain when internal power dependencies and the perspective of academics is taken into account. 2012-08-27T10:40:37.332Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20820 Social and environmental accounting research manifests varying levels of awareness of critical global problems and the need to develop alternative approaches to dealing with economy and society. This paper explores Buddhist thought and, specifically, Buddhist economics as a means to informing this debate. We draw on and expand Schumacher's ideas about ‘Buddhist economics’, first articulated in the 1960s. Our analysis centres on Buddhism's Four Noble Truths, the Noble Eightfold Path and associated Buddhist teachings. The examination includes assumptions, means and ends of Buddhist approaches to economics; these are compared and contrasted with conventional economics. To consider how thought and practice may be bridged, we examine a practical application of Buddhism's Middle Way, in the form of Thailand's current work with ‘Sufficiency Economy’. Throughout the paper, we explore the implications for the development of social accounting, looking for mutual interactions between Buddhism and social accounting thought and practice. 2012-08-08T14:47:27.298Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20399 2 page(s) 2012-07-16T12:28:09.646Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20407 1 page(s) 2012-07-16T12:27:37.861Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20413 1 page(s) 2012-07-16T12:27:02.350Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20252 A critical measure largely neglected in previous loyalty studies is the customer's 'share of wallet' (SOW). This study, based on 1,924 retail banking customers, suggests that about 25-65% of the variance in customer loyalty in terms of actual behaviour can be predicted, in particular by demographic factors such as age, income and a customer's residential location. In recognition of the fact that banks generate different profits from savings/investment products and loans, the study develops separate models predicting SOW in terms of deposits, debts/loans; and percentages of accounts, loans and credit cards nsed from a customer's main bank. While satisfaction and attitude are strong predictors of behavioural intentions, they were, together with service quality, found not to be significantly associated with SOW. 2012-07-04T14:07:43.024Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20272 1 page(s) 2012-07-04T14:03:42.266Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20273 2 page(s) 2012-07-04T14:03:21.971Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20271 2 page(s) 2012-07-04T14:03:20.749Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20275 1 page(s) 2012-07-04T14:00:27.321Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20283 1 page(s) 2012-07-04T14:00:08.733Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20286 2 page(s) 2012-07-04T13:59:19.596Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20285 1 page(s) 2012-07-04T13:59:08.629Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20293 1 page(s) 2012-07-04T13:58:24.046Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20291 1 page(s) 2012-07-04T13:57:46.495Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20288 1 page(s) 2012-07-04T13:57:04.004Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20299 1 page(s) 2012-07-04T13:56:43.337Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20301 1 page(s) 2012-07-04T13:55:22.998Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20304 1 page(s) 2012-07-04T13:53:32.781Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:20309 1 page(s) 2012-07-04T13:51:34.210Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:18709 This paper presents a first draft of a sketch that investigates motivations which underpinned Fisher's pioneering work in health economics and reflects on lifestyle. Changes advocated, which at the conference presentation are intended for discussion and assessment on their implications for contemporary society - one hundred years hence. This is considered against the backdrop of the early years in academia; a near fatal bout with illness and an extended convalesce; and the period that spans conception to publication of his Impatience and Opportunity Theory of Interest These episodes in Fisher's early life, academic career, and reformer of society, are seasoned with events heralding change in Fisher's pattern of thinking about his role in society. 2012-04-18T04:40:07.160Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:18512 Prior studies suggest that performance measures can significantly influence employee behaviours and performance. However, the issue of how performance measures are chosen in the first instance is often overlooked. What factors influence how performance measures are chosen? This is an important unanswered research question. This study proposes that an organisation’s concern for workplace fairness can influence its choice of performance measures. Organisations are concerned with workplace fairness because they cannot function effectively if their employees perceive unfairness in the workplace. The use of financial measures alone may have limitations and may be perceived as unfair. In contrast, a comprehensive set of performance measures comprising both financial and nonfinancial measures may be perceived as fair because such systems are likely to capture a broader, more complete and hence a more accurate evaluation of employee performance. Hence, organisations that are concerned with workplace fairness are likely to choose performance measurement systems that are comprehensive comprising both financial and nonfinancial measures. Based on a sample from 276 managers, the results indicate that organisational concern for maintaining workplace fairness is positively associated with comprehensive performance measures and ultimately employee job satisfaction and performance. These results underscore the importance of workplace fairness in influencing the choice of management control systems. 2012-04-04T16:41:20.292Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:18520 Australian small business (SB) represents 96% of all private sector business, employs almost 3.3 million people and enjoys an average growth rate of 3.5 percent. The Service Sector (SS) has enjoyed a rapid growth rate due to the evolution of the global economy and information technology, as well as the shift from production to market orientation; it is the largest component of the Australian economy in terms of the numbers businesses, employment and gross value added. Small firms are found in abundance within this sector. This therefore indicates that the Australian economy is heavily dependent upon the health and vitality of the small firm; it is critical to measure SB performance. Despite this contribution, the small business sector, and in particular the service sector component, appear to be underrepresented in the development of specific performance measurement models, which, within the academic and professional literature appear to focus on their larger firm counterparts. Given the unique position of small business service organisations the above suggests a critical need for the design and development of an industry specific performance model suitable for this sector. This paper has been produced during the research project and reflects theory and research extracts from the literature review and the methodological approach to develop such a model. 2012-04-04T16:41:04.743Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:743 Existing evidence on the relation between risk and return is conflicting. This evidence is extended by estimating a stochastic volatility in mean model using equity returns from a mix of ten emerging and five developed markets. Results suggest that while the relation is significantly positive for China and significantly negative for Australia, it is insignificant for the remaining markets studied. Findings also vary across subperiods related to the Asian financial crisis of 1997 to 1998. Model estimates identify some important differences across these markets in the nature of volatility in terms of its own volatility, persistence and predictability. 2012-03-19T23:15:24.299Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:797 Personal financial planning in Australia is drawing interest from a wide range of groups including consumers, regulators, the financial services industry, accountants, and educators. This paper reflects on the development of the Australian financial planning industry, focusing on its historical background and the relevant regulatory environment. This article then provides a descriptive analysis of the availability of dedicated financial planning courses currently available in Australian universities at both undergraduate and postgraduate levels. The Australian findings suggest the existence of considerable research opportunities to study professionalism in financial planning and the fundamental role that education plays in this process. 2012-03-09T01:49:03.803Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:17922 Accounting and corporate governance failures have figured prominently in discussions of the possible causes of bankruptcy of financial institutions in recent times. These discussions suggest that accounting has failed to play an effective role in facilitating good governance of those organizations. Using Ekanayake et al. (2009), this paper argues that whilst accounting could assist corporate governance in banks, the effectiveness of its role in corporate governance is influenced by a number of contextual factors which are likely to vary between developing and industrialized countries. Based on the data gathered from a wide range of documents, and interviews of several key personnel related to the banking industry in a developing country, the paper reveals how the role of accounting in corporate governance in banks could be facilitated as well as obstructed by various factors in the environment. 2012-03-06T02:40:39.991Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:17897 One of the pressing issues in marketing is to resolve the debate over the effectiveness of customer loyalty programs. This study adds to the discussion by examining the relationship between loyalty program usage and the demographic factors of age and income. Based on demographically representative data from 7,011 Australian households, the study investigates the usage patterns of six subscription based loyalty programs compared t o the Australian supermarket fuel discount schemes. The results show that fuel shopper dockets were used more frequently across all demographic segments. This suggests that some of the more established subscription based customer loyalty programs may not be as effective in encouraging usage when compared to the relatively new non-subscription based customer loyalty programs such as fuel shopper dockets. 2012-03-03T12:03:07.765Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:8915 27 page(s) 2012-02-27T01:23:45.160Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:1023 A critical measure largely neglected in previous loyalty studies is the customer’s “share of wallet? (SOW). This study, based on 1,924 retail banking customers, suggests that about 24% of the variance in customer loyalty in terms of actual behaviour can be predicted, in particular by demographic factors such as age, cultural background, income and gender. Switching costs were also found to be a key predictor in this business, where high exit barriers generate spurious loyalty. While overall satisfaction, affective attitude and the five SERVQUAL dimensions are generally strong predictors of behavioural intentions, they were not significantly associated with SOW in this study. Implications for bankers and researchers are discussed. 2012-02-26T22:18:21.687Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:8892 Philippines instituted an accounting law in 1923. I see this as the first step in the Philippine professionalisation project. The case of the Philippines enables us to reconsider our theoretical understanding of the professionalisation of accounting. Specifically, this book investigates the 'emergence' of a virtual accounting profession. It is virtual because (a) the Filipino project did not emerge from any pathway heretofore identified in the literature and, (b) because when the 1923 accounting law was passed there was no institutionalised or strongly recognised accounting profession in place at all. Secondly, this book adds to our understanding of professionalisation projects in the context of colonial relations, as these are played out in non-settler colonies. In investigating the Philippine professionalisation project, we are able to challenge an existing representation of a non-settler colony as a weak periphery dominated by an imperial state and Professionalisation projects as 'mere', and by implication, inferior reproductions of the imperial country's model. 2012-02-24T01:10:21.736Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:17747 This paper examines the underlying hypotheses of the Balanced Scorecard (BSC) which states that improvements relating to customers, learning and growth and internal processes improve the financial performance of an organization. In designing current research, the study focused on leading manufacturing and service companies based in Bangladesh and involved a structured questionnaire supported by financial data extracted from financial reports over three years. The results show that the BSC perspectives are positively correlated with each other at a statistically significant level and in a sequential way. Results also evidence that the companies that have improved their ROE and ROA had increased their efforts towards characteristics that involve the learning and growth perspective. This research has shown that Bangladeshi companies that apply a BSC model benefit from increased performance, and these findings have a number of important implications for managers and customers and contribute to our knowledge of the BSC in developing countries. 2012-02-23T12:50:33.777Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:6191 This research monograph empirically examines the attitudes of managers and managerial students in Australia, China and Indonesia toward the perceived 'prominence' and 'salience' of selected organisational stakeholders, and their subsequent 'class'. This study develops a 'positive' approach to stakeholder theory by exploring how political, social and economic factors in each of the three countries are likely to shape managerial attitudes towards stakeholder prominence. Australia, China and Indonesia are selected for examination because of their uniqueness in terms of their social and economic development, and religious and cultural traditions, which in turn have shaped both their formal and informal corporate governance systems. 2012-02-22T05:22:12.850Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:17648 A critical measure largely neglected in previous loyalty studies is the customer's "share of wallet" (SOW). This study, based on 1,924 retail banking customers, suggests that about 25-65% of the variance in customer loyalty in terms of actual behavior can be predicted, in particular by demographic factors such as age, income and a customer's residential location. Since banks generate different profits from savings/investment products and loans, the study develops separate models predicting SOW in terms of deposits, debts/loans; and percentages of accounts, loans and credit cards used from a customer's main bank. While overall satisfaction and affective attitude were found to be strong predictors of behavioral intentions, they were, together with service quality, not significantly associated with SOW. 2012-02-17T21:26:20.553Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:17659 A critical measure largely neglected in previous bank loyalty studies is the customer's "share of wallet" (SOW). This study, based on 1,951 retail banking customers, suggests that about 24% of the variance in customer loyalty in terms of actual behaviour can be predicted, in particular by demographic factors such as age, income and gender. Affective attitude and confidence in judgement of the financial services market were also found to be significant predictors of SOW. On the other hand, overall satisfaction and the five SERVQUAL dimensions, that are generally strong predictors of behavioural intentions, were not significantly associated with SOW in the multivariate analysis of this study. Implications for bankers and researchers are discussed. 2012-02-17T21:25:09.838Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:17610 4 page(s) 2012-02-14T03:24:20.420Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:17611 8 page(s) 2012-02-14T03:24:13.997Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:6451 2012-02-08T22:18:01.400Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:7585 The history of the role of CAEs in Australian accounting education is written against a backdrop of several decades of turmoil in higher education in Australia. Accounting struggled to be recognized as a genuine university discipline, labored under sustained student demand for places and endured minimal government funding. Yet CAEs developed into assemblies of professionals and educators who created vocational courses which catered for the needs of those whom universities had shunned: mature age and part time students. Their lasting legacy includes: strong professional links; a deeper appreciation of learning and teaching; connections with mature students; an emphasis on the scholarship of teaching; and a continuance of the discussion about accounting as an academic or vocational discipline. 2012-02-08T21:55:42.326Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:7455 2012-02-08T05:28:57.739Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:17164 Accounting practices in Germany are in a state of flux. A Bill to Modernise Accounting Law (Bilanzrechtsmodernisierungsgesetz - BiIMoG) suggests some changes to the traditional German Commercial Code (Handelsgesetzbuch - HGB), such as abolition of the reverse authoritative principle and numerous options currently available to companies for financial reporting. Driven by international pressures, the focus of the German government is to strengthen the protection of investors and adjust the German Commercial Code HGB to International Financial Reporting Standards (lFRS). However, the modernisation of German accounting law involves controversial aspects such as the influence of IFRS on the interpretation of German accounting rules or the established link between tax accounting and the HGB. The purpose of this study is to provide insights into the most recent changes of the regulatory environment for accounting in Germany by critically examining the proposals to reform the HGB and interviewing a selected group of individuals who have an influence on accounting regulation in Germany. The study found that while there was general agreement that the regulatory environment for accounting in Germany needed to be reformed, there were also strong concerns, among other things, about the use of fair value accounting and the cost of adopting IFRS. Importantly, findings suggest differences between IFRS and HGB will continue to remain. 2012-01-26T14:44:00.871Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16993 This paper investigates the association between corporate performance and the probability of chief executive officer (CEO) dismissal for large corporations in Australia. Consistent with prior US and UK studies, corporate performance is negatively related to the probability of CEO dismissal, using both accounting and market-based performance measures. This paper also investigates whether key corporate governance characteristics affect the likelihood of CEO dismissal, by examining their effect on the strength of the negative association between corporate performance and CEO dismissal. The only significant variable is size of the board. Although its effect is opposite to that hypothesized, this paper provides a plausible explanation. Overall, the results are consistent with shareholder wealth considerations dominating board behaviour in Australia. 2012-01-24T05:57:38.911Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16917 Previous research has investigated the determinants and consequences of customer loyalty, but in banking, a critical but often neglected measure is the customer’s ‘share of wallet’ (SOW). Since some customers are more active in either investments or loans, the study, based on a survey of 1,924 retail banking customers, models SOW separately in terms of deposits and debts/loans. The results suggest that approximately 25% of the variance in share of wallet can be predicted, in particular by demographic factors such as age, income and a customer’s location. The typical client with growth potential for deposits is found to be male, aged 35-65, has a high income and a university degree, and lives in a city area. In contrast, factors such as satisfaction, attitude and service quality were not significant predictors of SOW. Implications for bankers and researchers are discussed. 2012-01-16T06:13:09.754Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16916 In a highly competitive banking environment, achieving customer loyalty is a key factor to enable banks to survive and grow. A rich literature has been developed on the determinants and consequences of customer loyalty, but there has been limited research investigating the relationships between loyalty components such as attitude, intentions and actual behaviour in retail banking. Furthermore, bank loyalty studies have often omitted the external environment, which is likely to moderate consumer attitudes and behaviour. The current empirical study of 1954 retail banking customers suggests a large proportion of the variance in behavioural intentions can be predicted, in particular by attitude, attitudinal differentiation and situational factors such as customer perceptions of competitors. However, these variables, in combination with satisfaction, behavioural intentions, switching costs and social norm, were revealed to be poor predictors of a number of measures of actual behaviour. Hence there is a large discrepancy in the ability to predict stated behavioural intentions and actual behaviour – approximately 60% of the variation in behavioural intentions can be explained, but a similar model explains only about 7% of the variation in actual behaviour. Of what can be predicted in actual behaviour, this study found that satisfaction with a bank’s technology is the strongest predictor of actual behaviour in terms of share of wallet. 2012-01-16T06:13:01.837Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:1447 There is widespread concern about Chinese auditors' independence and prior research suggests that lack of auditing standards is the main reason for such a problem. In this study we test an alternative proposition that government control and influence causes auditor independence problems in China. 2012-01-16T01:19:52.072Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16910 This study aims to examine the change in the performance measurement system of a bank operating in an emerging economy using Kasurinen’s (2002) framework of management accounting change. Data were gathered using field study methods on the changes taken place within the bank over a ten year period (1997-2007). The findings of the study indicate that the incremental changes in the bank’s performance measurement system were motivated by factors both internal and external to the organisation including non-performing loans, the adoption of risk assessment and mitigation tools, government agencies and staff union’s involvement in bank decisions, reforms in the banking sector, and intensified competition. Whilst the motivators provided direct pressure to change the performance measurement system, the catalysts and facilitators indirectly influenced the change process and ultimately determined the outcome of the change. The findings of the study provide an insight into the factors that influence and inhibit changes in performance measurement practices within banks in emerging economies enabling researchers and practitioners to predict and adapt to future changes. 2012-01-13T05:50:05.113Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16854 In the current rush towards globalization and convergence, the influence of culture on accounting has been increasingly recognized as an important and controversial topic. However, quantified and narrowly focused approaches such as Gray’s (1988) framework of accounting values have largely dominated cross-cultural accounting research and education without a critical evaluation of their theoretical and methodological limitations. As such, the objective of this paper is to provide evidence that Gray’s (1988) framework and hypotheses are too simplistic to provide valuable insights into the development and structure of national accounting models. Using Germany as a case study, we critically examine Gray’s (1988) accounting values and particularly the secrecy hypothesis, to demonstrate that this framework largely fails to describe Germany’s accounting model. We recommend that accounting research will be enhanced by a critical examination of political, legal, social and historical environments of countries rather that a focus on measurement, quantification, simplification and categorization. 2012-01-12T19:12:10.555Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16764 The article is located in the social and environmental accounting research (SEAR) literature. A considerable body of work in the SEAR literature investigates the accounting and management practices and motives of businesses that report on their social, environmental or sustainability impacts. The potential value that researchers might derive in turning their attention to public services, social, environmental or sustainability practices, however, has been largely overlooked. The main objective of the article is to review relevant literature and ideas concerning accounting and accountability as key processes in advancing sustainability practices. The article also reviews the contributions to this PMR Special Issue and draws several conclusions. 2012-01-10T00:11:12.881Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:12996 Although the diffusion of information technologies has been widely considered in the Australian context, very few studies seem to have focus on the adoption and diffusion of information systems among individual accountants. This research investigates factors affecting the use of Accounting Information Systems (AIS) by Australian accounting practitioners. The Unified Theory of Acceptance and Use of Technology model by Venkatesh et al. (2003) is adopted to investigate this issue. The model is extended by integrating the national culture theory by Hall (1973), with an emphasis on culture and communication. Data were collected from 190 accountants in Australia. The data collected were analysed using Structural Equation Modeling in association with the Partial Least Squares technique. The results show that performance expectancy, effort expectancy, facilitating condition and low context communication characterising the Australian culture positively influence behavioral intention and utilisation of AIS. 2012-01-05T14:58:29.817Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16703 This study critically examines the role of accounting in corporate governance in a public sector bank in a developing country. Based on a case study, the paper reveals that the actual role of accounting in corporate governance could differ from its potential role depending on the context within which accounting operates. The findings of this study are consistent with the contingency view of the effectiveness of accounting in organizations. The study also has both theoretical and practical implications, and will contribute to enhancing accounting’s role in corporate governance practices in banks in a developing country. 2012-01-05T14:30:44.505Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16705 This paper compares the relative forecast accuracy of the consensus and the most recent individual analyst earnings forecast using Australian analyst forecast data. It then examines the reasons for differences in the accuracy of these forecast measures in a market with relatively few analysts. The consensus forecast is more accurate than the most recent individual analyst forecast in 19 out of 20 years of the sample period from 1987 to 2006. The differences are significant for 9 out of 20 years. In spite of the low number of analysts following in the local market, it is the number of analysts following which explains the greater accuracy of the consensus forecast. Furthermore, the timeliness of analysts’ forecasts does not contribute to increasing forecast accuracy over a short forecast horizon. 2012-01-05T14:30:39.526Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16585 The Language for Professional Communication in Accounting project has changed teaching practice in a linguistically and culturally diverse postgraduate accounting program at Macquarie University in Australia. This paper reflects on the project's interdisciplinary and collaborative approach to diversity in the classroom by tracing its growth and development and describing the way in which it is supporting the integration of professional communication skills and discipline-specific content within the Master of Accounting program. In particular, the paper demonstrates that discipline specialists working in a continuous and collaborative relationship with English language specialists, to integrate and assess communication skills and enrich the curriculum, leads to better outcomes for students and staff. The paper contributes to a growing literature on approaches that integrate particular graduate attributes into programs with diverse student populations, rather than bolt-on interventions by language specialists that have limited outcomes. 2012-01-04T00:22:38.934Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16593 The importance of enhancing employee organizational commitment (EOC) is highlighted by the extensive literature revealing its positive impact on employees' job performance, reducing absenteeism and turnover rates, and improving employees' adaptability to organizational change. This study provides an insight into how to enhance EOC levels by extending the literature examining the contextual factors that can influence EOC. Specifically, the study examines the association between cultural, organizational, and demographic factors with the level of EOC in the Australian manufacturing industry. Data were collected by survey questionnaire from a random sample of 500 managers with the results revealing that two cultural factors (outcome orientation and stability) and three organizational factors (organizational size, perceived organizational support and job satisfaction) were found to be Significantly associated with the level of EOC. Further analysis provides a preliminary insight into how to enhance the EOC of specific managers with different cultural and organizational factors found to be associated with the EOC of managers at different levels in the organizational hierarchy. The findings have important implications for practitioners attempting to improve the level of EOC of their employees with the subsequent enhancements in the level of EOC likely to contribute to improvements in productivity and growth in the Australian manufacturing industry. 2012-01-04T00:22:19.643Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16606 This article analyses voluntary sustainability reporting practices in seven Australian public sector organizations which use the Global Reporting Initiative (GRI) guidelines. Reporting practices are diverse and the use of the GRI public agency supplement fragmented, with the annual report being only one of several media used by organizations for sustainability disclosures. 2012-01-04T00:21:50.933Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16605 This article reports on part of a larger empirical study examining senior managers' perceptions of corporate environmental management (CEM) and reporting in China. ‘Coercive government institutional involvement’ emerged as one of the major influencing themes of CEM. The state regulatory regime has been perceived by Chinese managers to be the most influential, most complex and least predictable in terms of organizational environmental performance. The study found that environmental management systems that work in developed nations should not be directly transplanted to developing nations without considering institutional contexts. Notwithstanding China's dynamic economic boom and modernization, the State still exerts institutional influence on CEM. 2012-01-04T00:21:50.795Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16519 Prior studies suggest that budgetary participation is important to those subordinates who are evaluated by a high budget emphasis evaluative style. It enables them to influence their budget targets. This study, however, proposes that budgetary participation is needed only if subordinates perceive their organizations' performance evaluation and reward allocation systems as unfair. In such situations, budgetary participation may be useful for communicating grievances and for rectifying unfairness. This suggests that budgetary participation may be more effective in enhancing managerial performance when procedural justice is low than when it is high. These expectations are supported by the results of the study. 2011-12-21T05:00:41.075Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16503 In Australia, the professional accounting bodies monitor accounting education in higher education institutions through a system currently referred to as course accreditation. This system differs from monitoring processes in the UK and the US. This paper addresses the question of why this monitoring mechanism was developed over a forty year period and how the professional accounting bodies have maintained the system throughout periods of massive shifts in Commonwealth government education policies. It concludes that, despite the evidence that the monitoring mechanism has been ineffective, the maintenance of the system until recently, has resulted in mutually beneficial outcomes for both the professional accounting bodies and the higher education institutions. 2011-12-20T23:30:15.926Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:2567 As the US FASB and the IASB appear to be in the process of creating a world accounting standard-setting duopoly, unresolved problems involving over-complexity are likely to be transported to other countries, including Australia. 2011-12-12T02:50:06.118Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:1204 This study examines whether culture affects interpretation and application of International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS). 2011-12-12T02:44:32.217Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:3559 Many of the problems associated with accounting education could be due to at least two reasons: inadequate attention given to the design of accounting programmes, and the narrow view of stakeholder approach adopted in examining education issues. The existing literature mainly focuses on students' perception about issues such as teaching quality, alumni experience in major accounting firms, and so on. This paper deals with the design of accounting programmes, and proposes to ascertain the views of an important stakeholder group (i.e. alumni) on this issue. The findings of this study give credence to some of the generally held views, e.g. that it is no longer appropriate for tertiary education providers to adopt a one-size-fits-all approach. However, in some other areas, the findings represent a stark contrast to the views on certain issues promulgated by the professional bodies in New Zealand and overseas including the USA, (for example, the issue of appropriate proportions of accounting, business and liberal studies in an accounting programme). Notably, the respondents in general placed a low importance on auditing as part of an education programme. Further, in terms of the emphases that should be placed in an accounting programme, contrary to the endorsement in the literature, 'work experience' was not considered as important as other areas of emphasis, (e.g. global perspective, local perspective, professionalism and social and environmental perspective). 2011-12-12T01:10:54.168Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16341 Accounting is considered as an integral part of corporate governance practices. However, limited attention has been paid in the literature to examine this issue systematically. Drawing on agency theory, stakeholder theory and contingency theory, this studyfills this gap by developing a framework to enable a comprehensive analysis ofthe role of accounting in corporate governance with special reference to the banking sector. Based on an extensive survey ofrelevant literature} we found that (a) four areas of accounting, namely external reporting, external auditing, management accounting, and internal auditing, could assist in practices related to intern.al and external corporate governance ofbanks; and (b) such assistance would however be moderated by various contextualfactors, i.e., internal organisation, organisational interface and external environment. The findings ofthis paper have implications for practitioners} with a proposed checklist for governance purposes andfor researchers by providing a framework that integrates the various theories 'that explain governance practices . 2011-12-09T21:13:49.683Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16220 This study proposes that managers who participate in the development of their performance measures are likely to experience high job satisfaction if these measures are used to evaluate their performance. It also proposes that the motivation effects in the use of financial performance measures may be influenced by industry. Specifically, it proposes that managers from the financial services sector are likely to react more favourably to financial measures than nonfinancial measures. This is because these managers are routinely involved in finance and financial matters during the course of their work and therefore are likely to be relatively familiar with financial measures and evaluative styles that are financially oriented. Hence, it is likely that they may experience high job satisfaction if their performance evaluations are based on financial measures rather than on nonfinancial measures. The results of this study, which is based on a sample of 112 financial service sector managers, support these expectations. 2011-12-02T15:13:01.005Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16167 Recent interest on the use of nonfinancial measures (e.g. in the Balanced Scorecard) generally assumes that such measures are essential to overcome the inadequacies of financial measures. However, it remains unclear (1) if the behavioural effects of these nonfinancial measures are different from those of financial measures; and (2) whether these effects are influenced by the relative importance of nonfinancial measures vis-à-vis financial measures. This study hypothesises that the use of performance measures for performance evaluation will significantly affect managers' job satisfaction. However, these effects are indirect through the managers' perceptions of the fairness of these measures and the interpersonal trust these measures promote. Based on a sample of 70 managers, these expectations are supported by the results. More importantly, the results also suggest that (1) the process by which nonfinancial measures affect employee job satisfaction is not different from that of financial measures, and (2) the relative importance of nonfinancial measures vis-à-vis financial measures has no significant effect on employee job satisfaction. These results may have important theoretical and practical implications. 2011-11-30T04:51:09.161Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16171 Recent suggestions that nonfinancial measures are essential to overcome the inadequacies of traditional financial measures have led to the widespread adoption of such measures. It is, however, unclear how employees react to these new measures. This study hypothesizes that favorable employee behaviors will only occur if employees perceive performance evaluation criteria as fair. It is therefore important to ascertain if the use of non financial measures as performance criteria is procedurally fair. Based on a sample of 149 managers from the United Kingdom, the results indicate that the use of nonfinancial performance measures was perceived as procedurally fair. We also find that such perceptions are associated with higher organizational commitment which, in turn, enhances employee job performance. 2011-11-30T04:50:59.998Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16172 Prior management accounting studies on fairness perceptions have overlooked two important issues. First, no prior management accounting studies have investigated how procedural fairness, by itself, affects managers’ job satisfaction. Second, management accounting researchers have not demonstrated how conflicting theories on procedural fairness can be integrated and explained in a coherent manner. Our model proposes that fairness of procedures for performance evaluation affects job satisfaction through two distinct processes. The first is outcome‐ based through fairness of outcomes (distributive fairness). The second is non‐outcome‐based through trust in superior and organisational commitment. Based on a sample of 110 managers, the results indicate that while procedural fairness perceptions affect job satisfaction through both processes, the non‐outcome‐based process is much stronger than the outcome‐based process. These results may be used to develop a unified theory on procedural fairness effects. 2011-11-30T04:50:59.548Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16173 Employees' participation in organizational affairs may affect employee attitudes such as job tension. It is likely that these relationships may be indirect via some intervening variables. The interpersonal trust between the subordinates and their superiors has previously been identified as one of such variables. However, the empirical evidence indicates that interpersonal trust, by itself, is unable to explain fully the relationship between budgetary participation and job tension. This study hypothesises that the omission of procedural fairness as an intervening variable may be the reason for the failure of prior research to account for most of the effects between budgetary participation and job tension. The results, based on a sample of 152 managers, support the expectation that procedural fairness and interpersonal trust jointly are able to explain a substantial portion of the effects of the relationship between budgetary participation and job tension. 2011-11-30T04:50:55.171Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16182 This paper investigates the association between corporate performance and the probability of chief executive officer (CEO) dismissal for large corporations in Australia. Consistent with prior US and UK studies, corporate performance is negatively related to the probability of CEO dismissal, using both accounting and market-based performance measures. This paper also investigates whether key corporate governance characteristics affect the likelihood of CEO dismissal, by examining their effect on the strength of the negative association between corporate performance and CEO dismissal. The only significant variable is size of the board. Although its effect is opposite to that hypothesized, this paper provides a plausible explanation. Overall, the results are consistent with shareholder wealth considerations dominating board behaviour in Australia. 2011-11-30T04:50:35.381Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16185 The purpose of this paper is to determine what aspects of board independence, in terms of board structure and characteristics of non-executive directors (NEDs), are associated with effective monitoring of management, as evidenced through lower levels of earnings management. This paper examines the effectiveness of board independence requirements under the 2003 Australian Stock Exchange (ASX) Principles of Good Corporate Governance and Best Practice Recommendations (POGCG) for a sample of 231 firms listed on the ASX in the financial year 2005. The associations of board composition, share ownership and compensation of NEDs with the level of earnings management are estimated. To explore the characteristics of NEDs that are important for effective monitoring, NEDs are separated into "grey" (affiliated) directors and independent directors and compensation is separated into variable and fixed components. The results of the paper indicate a positive relation between earnings management and share ownership of NEDs, particularly that of grey directors. There is a negative relation between NED compensation and the level of earnings management, particularly the fixed compensation component for independent directors. 2011-11-30T04:50:31.785Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16187 Purpose – Two reasons are identified for studying the impact of capacity measurements on organizations. First, firms which make the best use of their resources can be expected to outperform their competitors. The second arises from the potential structuration effect of capacity metrics. Such an investigation makes capacity a visible, and hence an actionable, construct. This paper aims to address these issues. Design/methodology/approach – To explore these issues, a combination of analytics and qualitative field research methodology was used. The measurement dimensions were developed by analyzing the different reports, baseline measures, and metrics included in the various capacity models as suggested by the literature. These analytics were enriched with observations obtained from field research. Findings – Maximizing the value created within an organization starts with understanding the nature and capability of all the company's resources. The outcome is the identification of capacity systems specifically suited for particular types of operations, both manufacturing and service. Practical implications – Such frameworks would allow organisations in developing economies, to make visible, the drivers of waste and productivity and to identify the primary assumptions and implications of various capacity limits. Originality/value – This paper fills the gap between defining and measuring the productive limits of a machine or system, and the impact of various assumptions about the productive potential of the nature and informativeness of capacity cost management systems. The authors focused on the various ways in which multi-dimensional limits (for example, time, space, volume and/or value-creating ability) can be used to define productive capacity. Specifically, the research suggests that the limits used in establishing the capacity cost management system restrict the amount and nature of the information the system is capable of providing to management. 2011-11-30T04:50:21.792Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:9569 The increasing pace of globalisation, and the concomitant international harmonisation and standardisation of accounting practices, has intensified interest in cross-cultural differences in the attitudes and beliefs of preparers and users of financial information. Theoretical conceptions of culture in accounting research are controversial, ranging from highly deterministic, quantified and componential perspectives (such as Hosfstede’s five dimensional model) to those that suggest continual changes in cultural values brought about by forces of acculturation. Acculturation refers to cultural change that is initiated by the conjunction of two or more autonomous cultural systems. This paper makes a contribution to cross-cultural accounting research by examining the influence of competing theoretical perspectives of culture and acculturation on "holier-than-thou" perception bias. "Holier-than-thou" perception bias leads to individuals perceiving themselves as acting more ethically than comparable others when confronted with ethically uncertain work-related behaviours. This study contributes to cross-cultural accounting research by surveying Australian and Indian professional accountants from big four accounting firms. We firstly seek to establish the prevalence of "holier-than-thou" perception bias in both cultural settings. Secondly, we examine the differential and competing influences of culture and acculturation on perceptions of accountants from the two countries on measures of this bias. Data was collected through a survey questionnaire administered to samples of senior accountants from the big accounting firms in Australia and India. The questionnaire comprised an auditor-client conflict and two whistle-blowing scenarios and used two questions to measure the magnitude of the bias. The results show that "holier-than-thou" perception bias exists among accountants within each of the two countries. However, the magnitude of the bias was not significant between the countries. The results support the theory of acculturation in big accounting firms. Our findings have implications for accounting research where the presence of "holier-than-thou" perception bias needs to be considered in cases where respondents are questioned on socially sensitive issues. The findings may be useful to accounting researchers, managers of multinational enterprises in general, and big-four accounting firms in particular. Our conceptual framework applied in this study is innovative and provides a template for assessing current controversies in cross-cultural accounting research. 2011-11-28T10:38:39.093Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:1165 This Handbook provides insight into the lessons learnt by a number of major Australian organizations when implementing information and communications technology projects. It is a rare resource, as many organizations are guarded about sharing details of their internal project successes and failures. It presents a set of relatively simple guidelines for boards and top managers to meet their responsibilities. They have been framed to be consistent with the ASX guidelines on corporate governance. 2011-11-25T00:50:13.197Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:16068 Convergence has been supported by the notion that a single set of high-quality global accounting standards is an important means of enhancing comparability of financial statements. The purpose of this study is to emphasize translation of International Financial Reporting Standards (IFRS) as an impediment for a consistent application and interpretation across countries. Specifically, we critically analyse literature that combines the fields of linguistics and accounting and examine the quality of IFRS translation. Using Germany as a case study, we provide evidence that the translation of selected IFRS from English to German is not equivalent to the original version. 2011-11-23T02:00:38.461Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15704 With the proliferation of the WWW, providing more intelligent Websites has become a major concern in human-website interactions. Giving more intelligence to e-commerce sites is popularly recognized as one of the effective strategies that increases customer satisfaction because such websites react intelligently and can give a personalized response to each customer. Although several researches have studied usability of websites, there is a lack of quantitative methods to categorize functionality of web pages. That is important issues, because different pages have different role and understanding their roles make it more effective to enhance ease of use and usability of the website. We emphasize the ambiguity of page categorization and propose a fuzzy approach to develop a model to categorize pages as ‘target’, ‘index’, ‘exit’ and ‘start’ page. 2011-10-28T10:45:32.317Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15661 This paper fills the gap between defining and measuring the productive limits of a service or system and the impact of various assumptions about the productive potential of the nature and informativeness of capacity cost management systems for the service industry. The focus rests on the various ways in which multidimensional limits (for example, time, space, volume and/or value-creating ability) can be used to define productive capacity. This research suggests that the limits used in establishing the capacity cost management system restricts the amount and nature of the information the system is capable of providing to management. The methodology used was a combination of analytics and qualitative field research. The outcome is the identification of capacity systems specifically suited for service operations. Such a framework allows the organisation to develop economies, make visible the drivers of waste and productivity and to identify the primary assumptions and implications of capacity limits. 2011-10-25T05:54:02.882Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15671 1. The Dynamics of public financial management change in an international context: progress or a progression of questions, contradictions, and challenges? / Christopher Humphrey, James Guthrie, L. R. Jones, and Olov Olson 1 2. Recent public sector financial management change in Australia: implementing the market model / Linda M. English, James Guthrie, and Lee D. Parker 23 3. New public management reforms in Canada: success and failure? / David J. Cooper and Ken Ogata 55 4. Eastern European nations and new public financial management / Emidia Vagnoni 87 5. NPM and the Irish public sector: from reluctant reformer to statutory codification / Geraldine Robbins and Irvine Lapsley 109 6. Public sector financial management reform in Italy / Riccardo Mussari 139 7. New Zealand public sector management and accounting reforms: the hidden agenda / Susan Newberry and June Pallot 169 8. Public sector financial management reform in Spain / Vicente Pina and Lourdes Torres 195 9. Public sector accounting reforms in a welfare state in transition: the case of Sweden / Olov Olson and Kerstin Sahlin-Andersson 223 10. A Reflection on accounting reforms in Dutch government Henk J. ter Bogt and G. Jan van Helden 247 11. Financial management in the UK public sector: historical development, current issues, and controversies / Danny S.L. Chow, Christopher G. Humphrey, and Peter B. Miller 283 12. Contemporary public financial management and budget reform in the U.S. Federal Government 2011-10-25T05:53:33.661Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15632 Australian small business (SB) represents 96% of all private sector business, employs almost 3.3 million people and enjoys an average growth rate of 3.5 percent. The Service Sector (SS) has enjoyed a rapid growth rate due to the evolution of the global economy and information technology, as well as the shift from production to market orientation; it is the largest component of the Australian economy in terms of the numbers businesses, employment and gross value added. Small firms are found in abundance within this sector. This therefore indicates that the Australian economy is heavily dependent upon the health and vitality of the small firm; it is critical to measure SB performance. Despite this contribution, the small business sector, and in particular the service sector component, appear to be under-represented in the development of specific performance measurement models, which, within the academic and professional literature appear to focus on their larger firm counterparts. Given the unique position of small business service organisations the above suggests a critical need for the design and development of an industry specific performance model suitable for this sector. This paper has been produced during the research project and reflects theory and research extracts from the literature review and the methodological approach to develop such a model. 2011-10-22T20:10:06.296Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15633 The growing body of literature on Public-Private Partnerships (PPPs) indicates that a considerable number of PPPs have failed to achieve their value for money objective. The limited use of control systems to manage risks in PPPs has been seen as a contributing factor for this situation. As PPPs are subject to a variety of risks, such as relational risk and performance risk at different phases of a project, the effective use of MCS could have a significant effect on the success of this organizational arrangement. This paper argues that PPPs use control mechanisms with control strategies to different degrees over different phases of a project. However, no systematic analysis has been conducted to examine this issue. The paper proposes a framework that could facilitate such analysis. The proposed framework draws on transaction cost economics (TCE) and organizational theory. 2011-10-22T20:10:05.664Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15372 Purpose: To determine whether default risk is priced in the presence of fat tails. Originality: Modelling asset returns using a Multivariate t distribution. Key literature / theoretical perspective: Default Likelihood Indicator developed by Vassalou and Xing (2004) and multivariate t research by Kan and Zhou (2006). Design/methodology/approach: Empirical study of monthly US stock returns (1978 – 2007) using portfolios and control variables. Findings: Modelling returns, of distressed stocks, using a multivariate t in place of multivariate normal can have a substantial impact on the associated economic inferences. Practical and Social implications: Asset pricing and portfolio decision-making. 2011-10-12T07:20:49.638Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15373 Purpose: Review role of Fisher’s Separation Theorem in its historical context. Originality: Investigate a shift in pattern of economic thinking on determinants of the rate of interest. Key Literature/Theoretical Perspective: The evaluation is conducted against the backdrop of a conceptually intriguing series of events, spanning and surrounding publication of Fisher’s works The Rate of Interest (1907) and The Theory of Interest (1930). Approach: Historiography, or Historical Method - and more precisely, Historical Reconstruction [McCloskey (1976), Tuchman (1994)]. Analytical techniques applied to published and archival materials include Contextual Analysis [Marcuzzo (2008), Stigler (1965)] and the impact of language – especially myth, plot-structure, cultural endowment [Dolfsma & Welch (2009)], and metaphor [Klamer & Leonard (1994)]. Findings: Arguably, study of archival materials can provide insights into motivations and intentions that underpinned theory conception and development; much like adjusting image resolution - to bring into focus an object - where at first, only contours are visible [Marton & Booth (1997)]. Research Limitations/Implications: The data is text. Findings are interpretive truths. Practical and Social implications: Knowledge about episodes in the history of economic thought literature - especially instances where a series of events shifts a pattern of thinking - is essential for studying the mechanics of conceptual novelty. Thereby, illuminating patterns that we may anticipate in past, present, and future economic thought. 2011-10-12T07:20:49.496Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15360 Purpose: To report on the accounting standards used by Australian firms to prepare General Purpose Financial Statements (GPFSs) and Special Purpose Financial Statements (SPFSs); accountants’ awareness of alternative simplified reporting frameworks; and typical users of financial reports. Originality: This exploratory survey coincided with the consultation period for a new Australian financial reporting standard for non-publicly accountable reporting entities. It examines the standards used in practice prior to this major change. Methodology: An online survey was completed by 241 Australian accountants. The instrument was pilot tested by a focus group of one of the Australian professional accounting bodies, then distributed electronically by all three professional bodies. Findings: 1. Unexpectedly low awareness of pending changes to financial reporting. 2. Inconsistent application of reporting standards required by law. 3. Different reporting practices for GPFSs and SPFSs. 4. Identification of a variety of types of financial report users, including a large number of government institutions. Research limitations: 1. A low response rate as a percentage of the email newsletters distributed. 2. A possible bias in respondents towards those who were interested in the topic. Practical implications: This research confirms anecdotal evidence that reporting standards are not consistently applied in Australia, and provides support for the concern that changes to reporting requirements (if followed) will place an additional burden on some entities. 2011-10-11T17:50:23.872Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15349 Purpose: This paper demonstrates how mixture survival models can be applied to analyse mortgage insurance data that include default-prone and default-free loans, assess risk factors, and predict default rate. Originality: Although with proven advantages, mixture survival models have not previously been applied to mortgage insurance or other general insurance products with large numbers of default-free policies. Key literature / theoretical perspective: Mixture models have the flexibility of isolating default-free policies from the estimation of the survival function for the default-prone policies. Design/methodology/approach: We provide examples to identify and analyse the effects of two commonly used risk factors using the likelihood-ratio test and improper proportional hazard (PH) models. Moreover, given a set of plausible parametric models, we show how to select the best one based on the goodness of fit and model complexity. Findings: After applying both parametric and non-parametric estimation methods, we propose a Weibull mixture model for the survival function for default-prone policies. Research limitations/implications: The methodology applied in this research is ready to be extended to any other credit risk modelling. Practical and Social implications: Mortgage default is a crucial issue in assessing financial and insurance risks. It is well known that a large scale of mortgage defaults was the root of the sub-prime loan problems and the subsequent global financial crisis. 2011-10-11T02:50:15.903Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15329 This study examines the association between the adoption of three types of controls (input, behaviour and output) and Miller and Friesen’s (1984) organizational life cycle (OLC) stages (birth, growth, maturity, revival and decline). Data were collected by a survey questionnaire from a random sample of 1000 General Managers in Australian manufacturing business units. The results indicate that the extent of adoption of controls is associated with OLC stages. Specifically, both behaviour and input controls were found to be adopted to a significantly greater extent than output controls within the birth stage with similar findings within the growth stage. All three types of controls were adopted to a similar level within the maturity and revival stages. An exploratory examination of the extent of adoption of controls across OLC stages revealed that each type of control was adopted to a significantly greater extent within the growth and revival stages than the birth and maturity stages. The study contributes to the literature filling a gap by linking OLC studies to MCS studies. Most importantly, the study assists Australian manufacturing business units in adopting the most appropriate controls within each OLC stage and across OLC stages. 2011-10-10T13:34:44.674Z ]]> http://www.researchonline.mq.edu.au/vital/access/manager/Repository/mq:15333 Purpose: This research paper examines how the development of Standardised Water Accounting (SWA) could be used as a tool to improve water information and, therefore, water management. SWA, currently being pilot tested in Australia, utilises financial accounting methodology and format, but quantifies water in physical rather than monetary amounts. Originality: As SWA constitutes a novel approach to water reporting, this paper provides some insights as to how the various technologies of accounting might contribute to natural resource management beyond traditional techniques such as corporate sustainability reporting. Key literature/theoretical perspective: This paper discusses on the long tradition of considering how accounting might relate to the environment and sustainability. Additionally, this research is located in one of the four camps in which Bebbington and Gray (2001) classified the accounting literature on sustainability and accounting. Design/methodology/approach: This paper adopts a case study approach. The case study was facilitated by the former Water Accounting Development Committee, now Water Accounting Standards Board, and the objective was identifying the operational issues of implementing SWA in the different pilot sites across Australia. Findings: Preliminary findings are discussed in this paper pending further research. Issues discussed in this paper include the identification of the water reporting entity, fulfillment of users’ needs through water reports, discharge of accountability of water managers, quantification and quantification accuracy in regards with water measures and accounting processes which include the double-entry system and accrual accounting. Research limitations/implications: Consistent with other case studies, the primary limitation of the study is generalisability. Particular Australian environmental and regulatory characteristics in relation to water suggest that adoption of SWA in other contexts may yield different results. 2011-10-10T13:31:36.718Z ]]>