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Journal Cover Accounting, Accountability & Performance
   [12 followers]  Follow    
   Full-text available via subscription Subscription journal
     ISSN (Print) 1445-954X
     Published by RMIT Publishing Homepage  [419 journals]
  • Volume 18 Issue 1 - Marketing mix, service quality and loyalty In
           perspective of customer-centric view of balanced scorecard approach
    • Abstract: Islam, Majidul; Yang, Yi-Feng; Hu, Yu-Jia; Hsu, Cheng-Se A high level of customer loyalty has been identified as a successful marketing approach enabling firms to become more profitable. When firms retain their customers and build new relationships, they have more marketing capability to meet customer needs and preferences. This newly built relationship affects purchase behaviours positively and retains customers committed to repurchasing. The purpose of this study is to borrow the customer-centric view of the balanced scorecard approach to investigate several interconnected relationships such as marketing mix, service quality and customer loyalty. Utilising multi-source samples consisting of 200 customers from four large retail chain stores, as well as the multi-regression approach and Sobel test, the study ensued in providing suggestion that there is a significant mediator effect of customer service quality in the interconnected relationship between marketing mix and customer loyalty. The finding provides important information for retail chain stores that need to promote customer service quality as a vital practice for customer retention.
      PubDate: Tue, 11 Mar 2014 08:33:04 GMT
  • Volume 18 Issue 1 - Is goodwill capitalisation value relevant' Some UK
    • Abstract: Qureshi, Maqsood Iqbal; Ashraf, Dawood The treatment of goodwill, whether to capitalise or expense in the year of acquisition, has been a topic of debate over the last two decades. Since 1998, the Financial Reporting Standard (FRS 10) in the UK requires firms to capitalise purchased goodwill and amortise it through periodic charges to the profit and loss account rather than expense in the year of acquisition. The FRS 10 remained effective until 2003 and was since replaced by the International Financial Reporting Standard 3 (IFRS 3). The purpose of this study is to examine the association between purchased goodwill and market value of the firm by using a market valuation model that includes both balance sheet and income statement items, after controlling for the valuation effects of other intangibles assets: research and development (R&D), and advertising. Empirical results suggest a strong positive association between capitalised goodwill and firm market value, after controlling for other intangible assets such as R&D and advertising.
      PubDate: Tue, 11 Mar 2014 08:33:04 GMT
  • Volume 18 Issue 1 - Author index
    • PubDate: Tue, 11 Mar 2014 08:33:04 GMT
  • Volume 18 Issue 1 - Topic index
    • PubDate: Tue, 11 Mar 2014 08:33:04 GMT
  • Volume 18 Issue 1 - Subscription
    • PubDate: Tue, 11 Mar 2014 08:33:04 GMT
  • Volume 18 Issue 1 - Editorial policy
    • PubDate: Tue, 11 Mar 2014 08:33:04 GMT
  • Volume 18 Issue 1 - Notes to authors
    • PubDate: Tue, 11 Mar 2014 08:33:04 GMT
  • Volume 18 Issue 1 - How perceptions of empowerment and commitment affect
           job satisfaction: A study of managerial-level effects
    • Abstract: Rae, Kirsten This study examines factors that affect an employee's level of job satisfaction. Understanding job satisfaction is important because it has implications for positive or negative workplace outcomes. This study examines the main effect of the association between a manager's level of psychological empowerment, organisational commitment and job satisfaction, and the interaction effect of these associations moderated by the level of the manager's position within the organisation. Specifically, the managerial employee's level of job satisfaction is examined because managerial perceptions may have flow-down effects throughout an organisation. A sample of 301 Australian chief financial officers, human resource managers and chief executive officers was surveyed. The results of the regression analyses revealed partial support for the main effects of the associations between managers' perceptions of organisational commitment, psychological empowerment and job satisfaction, as well as how the association is moderated by managerial level. The findings of the study show that chief executive officers and human resource managers sought autonomy to have job satisfaction, while all three managerial levels sought affective commitment to be able to experience job satisfaction.
      PubDate: Tue, 11 Mar 2014 08:33:04 GMT
  • Volume 17 Issue 1/2 - Employee firm-specific knowledge and the acquisition
           of a high-performance work system organisation
    • Abstract: Razi, Nazila; More, Elizabeth Prior studies assert that high-performance work system (HPWS) practices allow a firm to build firm-specific human capital knowledge (FSK), which positively influences customer relations. This, in turn, leads to improved organisational performance. This study investigates whether a takeover influences existing firm-specific human capital knowledge and its impact on customer relations. The study was conducted on a small, recently acquired Australian telecommunications company identified as having a HPWS environment. The qualitative research was conducted through semi-structured interviews with the top, middle and supervisory management team of the company. From the findings it is evident that the existence of a HPWS environment in the organisation helped the employees to develop and build on firm-specific human capital. Intimate knowledge of the firm's products, customers and work processes enabled the firm to gain more individual efficiency. Firm-specific knowledge was identified as the most significant contributing factor towards improved customer relations and high performance of the organisation pre and post takeover. The takeover seems to have had no negative impact on employee FSK. It seems that employee knowledge of products, customers and work processes has improved.
      PubDate: Wed, 24 Oct 2012 15:03:55 GMT
  • Volume 17 Issue 1/2 - The development of key financial performance
           indicators for UK construction companies
    • Abstract: Hegazy, Mohamed; Hegazy, Sherif The UK construction industry has been criticised for its underachievement, and several industry reports have emphasised the need for performance measurement. This research developed a set of Key Financial Performance Indicators (KPIs) based on a survey of performance measurement and benchmarking techniques in the accounting literature. A benchmarking model based on financial KPIs was produced for construction companies to benchmark and evaluate their business performance at the corporate level. Subsequently, two case studies of contractors were presented, showing the advantages and disadvantages of the developed model.
      PubDate: Wed, 24 Oct 2012 15:03:50 GMT
  • Volume 17 Issue 1/2 - Nature, extent and antecedents of risk management in
           accounting, law and biotechnology firms in Australia
    • Abstract: Ekanayake, Samson; Subramaniam, Nava This paper provides empirical evidence on the nature and the extent of risks faced by small and medium-sized biotechnology and professional service firms (accounting and law) in Australia, as well as on the style of their adopted risk management methods and approaches. The findings of the study indicate that the top three risks faced by these firms are related to reputation, recruiting and retaining skilled staff, and cost management. The study also finds that more than half of the respondent firms manage risk in an integrated manner. The results of this study provide useful insights into the nature, extent and driving forces of risk management practices in these firms.
      PubDate: Wed, 24 Oct 2012 15:03:43 GMT
  • Volume 17 Issue 1/2 - Allowing flexible personal savings and investment
           choices in public sector pension plans Implications from an emerging
    • Abstract: Budsaratragoon, Pornanong; Lhaopadchan, Suntharee; Clacher, Iain; Hillier, David; Hodgson, Allan As life expectancy across the globe increases, the funding of pensions and allocation of portfolios are key budgetary concerns for both national governments and individuals in developed and emerging economies. We contributed to the scarce emerging economy pension research by examining decisions underlying public sector employee savings and investment preferences obtained from a survey of members of the Thai Government Pension Fund (GPF). Findings show that GPF members do not take advantage of tax savings benefits and exhibit a number of biases similar to those reported in the behavioural finance literature on mature western stock markets. Consequently, there is a disjoint between member self-perception of risk tolerance and the decisions they make, and there is evidence that this behaviour is influenced by cultural factors. For example, when members are empowered to make own asset allocation decisions, they switch from an initially conservative attitude to a more aggressive and risky investment approach. Given the volatility in global markets and the members' lack of investment skills and over-confidence in their own abilities, it is especially important for governments to design member information sessions and provide a balanced, diversified default plan(s).
      PubDate: Wed, 24 Oct 2012 15:03:38 GMT
  • Volume 17 Issue 1/2 - Topic index
    • PubDate: Wed, 24 Oct 2012 15:01:48 GMT
  • Volume 17 Issue 1/2 - Editorial policy
    • PubDate: Wed, 24 Oct 2012 15:01:40 GMT
  • Volume 17 Issue 1/2 - Notes to authors
    • PubDate: Wed, 24 Oct 2012 15:01:32 GMT
  • Volume 17 Issue 1/2 - Subscription
    • PubDate: Wed, 24 Oct 2012 15:01:25 GMT
  • Volume 17 Issue 1/2 - Author index
    • PubDate: Wed, 24 Oct 2012 15:01:10 GMT
  • Volume 11 Issue 1 - Do Sunk Costs and Asset Specificity Affect Outsourcing
           Decisions': A Survey of Australian Public and Private Hospitals
    • Abstract: Laing, Gregory K; Geno, Barbara Managers in both the private and public hospital sector are faced with controlling rising costs and yet must maintain services to a high level of accountability. One solution to cut costs is to outsource various non-core activities. Making a decision to outsource means a manager is faced with a large amount of cost information - some relevant and some irrelevant. This paper reports on an empirical survey of the influence of two types of irrelevant cost information on outsourcing decisions made by managers in public and private hospitals - sunk cost and asset specificity. Evidence was gathered that managers of both private and public hospitals were influenced to decide against outsourcing by the presence of sunk cost and asset specific cost information. Neither past experience with outsourcing decisions nor years of experience as a manager proved decisive in improving the decision outcome to outsource despite the clearly positive financial result if outsourcing were chosen.
      PubDate: Sat, 6 Oct 2012 14:26:55 GMT
  • Volume 16 Issue 1/2 - In Search of Management Accounting in the
           Sponsorship Decision-making Process
    • Abstract: Delaney, Deborah; Guilding, Chris Consistent with other corporate expenditures, it is important that sponsorship investments are subjected to careful financial justification and control. Despite this, there has been negligible academic research into the role played by accounting in sponsorship management. The potential for accounting procedures to be invoked in the management and control of sponsorship would seem to be considerable. The findings of this study, which are based on an interview-based case study conducted in a university setting, provide minimal support for this expectation, however. It appears that senior management view sponsorship decision-making as falling outside the financial analytic jurisdiction. With respect to budgetary processes, it was found that the 'authorising expenditure' was the pre-eminent role in sponsorship management.
      PubDate: Sat, 6 Oct 2012 14:12:03 GMT
  • Volume 16 Issue 1/2 - Editorial Policy
    • PubDate: Sat, 6 Oct 2012 14:09:35 GMT
  • Volume 14 Issue 1 - Keeping up Appearances: The Quest for Governance
    • Abstract: Bowrey, Graham An effective corporate governance structure is as crucial to a public sector organisation as it is to a private sector organisation. This paper reviews the profile of directors on governance boards of government controlled organisations and finds that, while the governance structures are similar with those in the private sector, the real power to set the strategic, financial and operational directions of these organisations is not in the hands of the directors, as it is in the private sector, but in the hands of the responsible ministers. This de-coupling, it is argued, is due to the perception that private sector governance practices are superior to public sector practices and therefore these government organisations, in an attempt to maintain the appearance of good governance and to legitimise their place in society, have adopted on the surface private sector governance structures and practices.
      PubDate: Sat, 6 Oct 2012 13:54:53 GMT
  • Volume 11 Issue 1 - Nominee Directors: Sui Generis or Merely a Breed of
    • Abstract: Auyeung, Susanna Australia has seen the need for corporate law to be in a strong position to adapt to changing commercial complexities and potential corporate hazards. In particular, focus has been placed on director liability. This topic looks at a particular type of director - the nominee director who is in a unique position of dual loyalty. In addition to identifying issues relating to nominee directors and appointors, the aim of the paper is to evaluate the nature of a nominee's duties as interpreted judicially and critically examine the underlying principles as compared with general directors' duties. It is submitted that the current Australian legal framework may adequately address the responsibilities of nominee directors and, importantly, adapt to commercial reality.
      PubDate: Sat, 6 Oct 2012 13:54:48 GMT
  • Volume 12 Issue 1 - Can Corporate Governance Variables Explain Short-term
           IPO Returns': A Study of the Chinese Market
    • Abstract: Li, Larry The IPO (initial public offer) literature has had little to say on whether what is regarded as good corporate governance has an impact on the level of underpricing. China has entered a period in which corporate governance standards are being given a priority in the reform of the enterprise structure of the economy. I examine a dataset of IPOs in the Shanghai and Shenzhen stock markets to determine any relationships between a set of corporate governance variables and underpricing. The results indicate that variables that have previously been identified as having explanatory power remain as explanations of underpricing. In contrast, I find that corporate governance variables have yet to have any explanatory power in the underpricing regressions except board composition.
      PubDate: Sat, 6 Oct 2012 13:54:47 GMT
  • Volume 10 Issue 2 - Controversies in EVA Implementation: A Case Study of
           an Australian Financial Services Organisation
    • Abstract: Cuganesan, Suresh; Free, Clinton; Briers, Michael It is now over a decade since Economic Value Added (EVA{TM}) was held out to be a more accurate and comprehensive measure of shareholder value than available alternatives. Despite much positive sentiment, evidence on the benefits of implementing EVA{TM} remains limited and mixed. Not only is research equivocal on the superiority of EVA{TM} as a predictor of stock returns vis- -vis other accounting measures, but studies into the performance consequences of using economic value measures are limited and provide only weak support for its claimed benefits. We respond to calls in the literature to investigate the implementation of EVA{TM} by examining how a large financial services organisation struggled with the introduction of EVA{TM} at a customer level. In so doing, the study provides a more extensive understanding of the factors that impact EVA{TM} implementation and shape its eventual outcome at organisations. Further, evidence is provided that contrast with popular prescriptions in the EVA{TM} literature as to its design and operation. Finally, in contrast to prior literature that focuses on the use of EVA{TM} at divisional or organisational levels, the study uncovers the novel use of EVA{TM} to measure customer value and profitability.
      PubDate: Sat, 6 Oct 2012 13:53:48 GMT
  • Volume 10 Issue 1 - Managing Strategies: An Exploratory Examination of the
           Association between Strategic Priorities and Critical Success Factors
    • Abstract: Le Cornu, Stuart; Luckett, Peter In recent years, the management accounting literature concerned with performance measurement has strongly advocated that managers identify and monitor the critical success factors associated with their chosen strategies. While such recommendations have strong normative appeal and support, there has only been limited empirical research investigating the extent to which managers systematically relate certain critical success factors with particular strategic priorities. This study reports the results of a survey of strategic business unit (SBU) managers from a sample of Australian companies. Respondents were asked to indicate the importance of a series of methods (competitive methods) that might be pursued in order to achieve a competitive advantage in their SBU, the extent to which they used various performance measures to control processes and activities, and how they rated their unit's performance. A factor analysis of the competitive methods indicated six different strategic priorities and a factor analysis of the performance measures resulted in nine groupings of measures reflecting nine critical success factors. The research addressed two main issues. The first relates to the number and type of critical success factors used extensively for controlling activities and processes for a given strategic priority. The second issue was concerned with differences in the practices of high and low performing SBUs. Results show that: a) SBU managers focus on only one or two critical success factors for given a strategic priority; b) different critical success factors appear to be associated with different strategic priorities; and, c) for a given strategy, high performing firms tend to focus on critical success factors which differ from those of low performing firms. The implications of the results are discussed and opportunities for future research are canvassed.
      PubDate: Sat, 6 Oct 2012 13:41:48 GMT
  • Volume 15 Issue 1 - Seasoned Equity Offerings by New Economy Companies in
    • Abstract: Murgulov, Zoltan; Bornholt, Graham Several recent papers present models to explain the probability and timing of seasoned equity offerings. Using a unique database of Australian new economy companies, we find no single model is adequate. The variables that are important in determining the probability of an SEO provide only limited support for explanations based on signalling models, market feedback and near-term liquidity needs. Similarly, the duration between an IPO and the first SEO is not explained by signalling or by near-term liquidity needs, and is only partially explained by market feedback.
      PubDate: Sat, 6 Oct 2012 13:36:58 GMT
  • Volume 11 Issue 1 - Financial Information and Voluntary Administration
           Outcomes - Evidence from Australian Listed Public Companies
    • Abstract: Routledge, James; Gadenne, David Introduction of the statutory voluntary administration (VA) process in mid 1993 represented a significant change to corporate insolvency law in Australia in providing greater opportunity for companies to attempt to resolve their financial distress. The focus of this paper is on the relationship between financial information available at the time a company enters VA and the VA outcome. In particular, we explore how financial information that indicates a company's capacity to restructure its debt and assets relates to the VA outcome. Our analysis indicates that a company's ability to restructure its debt contracts is critical to the fate of companies that enter VA.
      PubDate: Sat, 6 Oct 2012 13:34:56 GMT
  • Volume 13 Issue 1 - Financial Distress and Corporate Turnaround: A Review
           of the Literature and Agenda for Research
    • Abstract: Liou, Dah-Kwei; Smith, Malcolm A considerable body of research aims to discriminate between companies with the potential to stem decline, or recover from financially distressed conditions, from those which will ultimately fail. The literature spans a number of academic disciplines and embraces theorising, case studies and anecdote. Even so much confusion remains regarding the circumstances where recovery is feasible, and those factors and strategies likely to facilitate such recovery. This paper reviews this literature by focusing on the turnaround decision, the process and problems of reorganization and the probability of its success. Categorization of studies centres on the turnaround process to facilitate the generation of an analytical overview of findings with regard to alternative strategies which are a precondition for success. The paper concludes with a future research agenda embracing an alignment of strategy, implementation, and the sources of financial distress, together with an extended scope for turnaround studies.
      PubDate: Sat, 6 Oct 2012 13:32:40 GMT
  • Volume 14 Issue 1 - Financial Sustainability and the Imperative for Reform
           in Investment Organisation in Australia's Local Government Sector
    • Abstract: Gold, Martin Recent losses reported from the so-called sub-prime category have brought renewed scrutiny of the investment practices employed across the Australian local government sector. Currently, different prudential investment standards apply: an anomalous situation which suggests legislative reform is needed to introduce standardised portfolio management practices that can deliver optimal economic outcomes for communities. Any reform of investment governance within the sector, however, must be cognisant of the broader imperative of addressing the financial sustainability of the sector. Following recent investment debacles in the sector - and in the context of the rhetoric of cooperative federalism - this paper argues that uniform investment powers should be promulgated across the Commonwealth, and the local government sector empowered to develop appropriate investment objectives which feature a centralised funds management model.
      PubDate: Sat, 6 Oct 2012 13:26:30 GMT
  • Volume 8 Issue 2 - Intellectual Capital Reporting: An Examination of Local
           Government in Victoria
    • Abstract: Sciulli, Nick; Wise, Victoria; Demediuk, Peter; Sims, Rob The objective of this research is to examine how Victorian local government annual reports disclose information on intellectual capital. The idea of intellectual capital has become part of the working organisational vocabulary, and is widely held in management literature to be the pre-eminent economic resource and a key driver of efficiency, effectiveness and continual improvement in the private and public sectors. Under the recent Best Value Victoria policy, local governments are under increasing pressure to acquire and apply intellectual capital to improve responsiveness to community needs and meet cost and quality criteria. Annual reports exist as vehicles for communication, accountability and decision making. This study examines how the internal, external and human categories of intellectual capital are represented in the annual reports for the 2000 year for 77 of the 78 Victorian local governments. Using a matrix approach derived from Petty and Guthrie's (2000) framework, content analysis is employed to examine the incidence and intensity with which specific elements of intellectual capital are reported. This research indicates that generally the content of annual reports have not provided clear and coherent representations of how local government in Victoria are developing, applying and measuring intellectual capital. The nature and extent of intellectual capital reporting varies considerably between councils, and the disclosure of the human elements of intellectual capital is particularly underdeveloped. The findings suggest that more research in this area is needed to determine the extent to which intellectual capital should be disclosed and whether the current paucity of disclosure stems from disinterest or technical problems. There is also the need for further research into the need to identify and describe elements of intellectual capital, and into effective reporting strategies and techniques. This may lead to the development of a 'best practice' reporting model for intellectual capital. Furthermore, the preliminary investigations indicate a perceived need to raise the consciousness of public sector managers as to the existence of intellectual capital within their organisations, and ultimately lead to more informed and effective management of this asset.
      PubDate: Sat, 6 Oct 2012 13:26:26 GMT
  • Volume 8 Issue 2 - Transforming Australian Local Government: Insights into
           Leading Management Practices
    • Abstract: Kloot, Louise; Martin, John Over the last two decades there has been considerable reform in the Australian public sector in line with 'New Public Management' (NPM) principles. Local government has not been exempt from this reform. Successfully implementing reform requires the adoption of a range of new organisational and management practices. This Australia-wide study identifies the importance of contemporary management practices in local government, practices which are consistent with NPM, and examines differences which occur based on geographical location and council classification. The results suggest two things: that top-down state government reform, as occurred in Victoria in the 1990s, is a catalyst for managerial reform as managers search for new ways to cope with the pressure placed on them; and, that the tyranny of distance impacts on rural and remote local government councils, which have a lower take up rate of contemporary management practices. The results also indicate that people management practices are considered more important to managers than other more systems oriented practices.
      PubDate: Sat, 6 Oct 2012 13:14:45 GMT
  • Volume 14 Issue 2 - Management Control Systems and Public Sector Reform: A
           Fijian Case Study
    • Abstract: Alam, Manzurul; Nandan, Ruvendra Even though new public management (NPM) has been viewed as a transferable technology, its adoption in developing countries has often been questioned. As most developing countries have colonial pasts, it is important to see public sector changes within the prevailing institutions, traditions and practices that originated in colonial eras. By using a case study approach, this study explores how organisational accounting and control systems, as part of the reform process, are implicated in the complex web of social, cultural and political contexts. The implementation of such a reform process can be seen as problematic due to contradictions between the applicability of new technologies, such as accounting techniques, and the prevailing social practices, which are influenced by different values, beliefs and traditions.
      PubDate: Sat, 6 Oct 2012 13:00:46 GMT
  • Volume 13 Issue 1 - The Perceived Usefulness and Use of Performance
           Information in the Australian Public Sector
    • Abstract: Lee, Janet; Fisher, Gregory This paper presents the survey results of the opinions of public sector managers in Australia regarding the usefulness and actual use of performance information for their decision making. It examines the role of financial and non-financial information including efficiency, effectiveness, service standard, output and outcome measures in program evaluation, resource allocation, improving efficiency and quality of service delivery. Most types of information were regarded as having some degrees of usefulness and have been used to some extent for particular decisions. Nevertheless, lower mean scores were observed for the actual use of outcome and service standard information than for its perceived usefulness.
      PubDate: Sat, 6 Oct 2012 13:00:45 GMT
  • Volume 11 Issue 1 - Beneath the 'Beyond Bean Counting' Reports: Research,
           Professional Practice and Politics in the Public Sector
    • Abstract: Bisman, Jayne E The 'Beyond Bean Counting' reports (1997, 2000) sought to provide 'benchmark' descriptions of financial management practices in Australian public sector organisations. Based on survey research, the reports painted a bleak picture of the financial management and competencies of public sector managers. While many of the criticisms and reforms may have been deserved, the rationale for and methodology applied in researching these professional practices appears flawed. This paper critically evaluates the methods, results and findings of the reports, within the context of the prevailing political climate, providing a cautionary tale in researching professional practice in the public sector.
      PubDate: Sat, 6 Oct 2012 13:00:45 GMT
  • Volume 10 Issue 1 - Anticipating Stocks being Added to an Official Market
           Index: A Trading Rule Test
    • Abstract: Chan, Howard WH; Faff, Robert W; Howard, Peter F; Sokulsky, David The purpose of this paper is to examine whether abnormal returns can be made from a simple filter rule - buying a portfolio of stocks that satisfy the selection criteria of the Australian All Ordinaries Index (AOI) for various time horizons (over the six month 'qualifying' period) and holding them until they are/or would be included in the AOI index. The sample period examined is 1992 to 1998. We provide evidence that significant abnormal returns could not be earned by following this simple strategy. Further cross-sectional analysis of the abnormal returns suggests an abnormal return superiority for stocks in the industrial subset of our sample over resources stocks.
      PubDate: Sat, 6 Oct 2012 13:00:07 GMT
  • Volume 15 Issue 1 - Customer Accounting Adoption in Australian Companies:
           A Field Study
    • Abstract: McManus, Lisa; Guilding, Chris Field study evidence is drawn upon to examine the adoption of customer accounting (CA) practices and also barriers to CA adoption. While CA has commanded increased attention in the literature, there has been a paucity of research directed to examining the manner of CA application, and why companies do, or do not, adopt CA. Semi-structured interviews were conducted in fourteen Australian organisations, and it has been found that over half had adopted, or were planning to adopt, some form of CA in the future. The main barriers to further CA adoption noted were information technology constraints, other competing organisational priorities, resistance to change, inadequate skills and no strong CA advocate.
      PubDate: Mon, 17 Sep 2012 14:51:44 GMT
  • Volume 15 Issue 1 - Using a Simulation Activity in an Introductory
           Management Accounting Course to Enhance Learning
    • Abstract: Laing, Gregory K This paper reports on the use of an experiential learning activity designed to provide an improvement in student comprehension of management accounting concepts. The students who participated in the activity (treatment group) performed better, on average, than the control group. The findings were based on the comparison between the groups regarding performance in a mid-semester test and a final exam question. The results suggest that the experiential learning activity offers an important alternative teaching tool with the potential to enhance learning outcomes.
      PubDate: Mon, 17 Sep 2012 14:51:44 GMT
  • Volume 15 Issue 1 - Author Index
    • PubDate: Mon, 17 Sep 2012 14:51:44 GMT
  • Volume 15 Issue 1 - Topic Index
    • PubDate: Mon, 17 Sep 2012 14:51:44 GMT
  • Volume 15 Issue 1 - Notes to Authors
    • PubDate: Mon, 17 Sep 2012 14:51:44 GMT
  • Volume 15 Issue 1 - Editorial Policy
    • PubDate: Mon, 17 Sep 2012 14:51:44 GMT
  • Volume 9 Issue 2 - Price Effects of Changes to Size Sub-indexes on the
           Australian Stock Exchange: An Event Study
    • Abstract: Sokulsky, David; Brooks, Robert; Davidson, Sinclair This paper examines whether the general effect of index inclusion is present in relation to inclusion in the size sub-indexes on the Australian Stock Exchange. Results show that positive abnormal returns may be made for additions in the 30 days prior to the announcement window. However cumulative abnormal returns for the next 90 days are negative. Results of deletions are not so clear, and it is apparent that over the 120 day event window, deletions show a positive CAR. In relation to the overall AOI, it appears that the index effect is stronger for the AOI as reported by Howard and Chan (1999), than it is for the sub-indexes examined here.
      PubDate: Mon, 9 Jul 2012 11:12:34 GMT
  • Volume 9 Issue 2 - A Single-period Model and Some Empirical Evidences for
           Asset Allocation in a Value-at-risk Framework
    • Abstract: Li, Steven This paper considers the optimal asset allocation problems under value-at-risk (VaR) constraints by deriving a single-period optimal asset allocation model (VaR model). The model reveals that the optimal allocation of funds in risky assets is dependent on the distribution of the returns of risky assets and the VaR level, but independent of the acceptable loss ratio. The acceptable loss ratio only plays a role in determining the amount to be borrowed or lent at the risk-free rate. As an application of the model, the optimal asset allocation between two asset classes, bonds and stocks, is addressed. The empirical results obtained for the US, Australia and the UK show that the mechanism of asset allocation under VaR constraints is fundamentally different from the classical mean-variance approach.
      PubDate: Mon, 9 Jul 2012 11:11:09 GMT
  • Volume 9 Issue 2 - The Effects of Constructive Capitalisation of Operating
           Leases on Firms' Performance Indicators: Evidence from Australia
    • Abstract: Hodge, Sharon; Ahmed, Kamran This study examines the likely effects of capitalisation of operating leases on key performance indicators of listed companies in Australia. The current lease accounting standard (ASSB 1008) does not require operating leases to be capitalised in the balance sheet, but be expensed in the income statement as a rental expense. Using operating lease information from 148 companies, the results show that capitalisation would significantly affect total assets, total liabilities, interest coverage ratio, return on assets, debt to assets ratio, and equity to assets ratio. Although the capitalisation of operating leases will improve the way operating leases are currently accounted for in Australia by recognising off-balance sheet commitments, the implications of such accounting treatment on the three main user groups are likely to be mixed.
      PubDate: Mon, 9 Jul 2012 11:10:49 GMT
  • Volume 9 Issue 2 - Voluntary Trading Suspensions and Media Coverage on the
           London Stock Exchange
    • Abstract: Brailsford, Tim; Cross, Tony This study examines voluntary suspensions and subsequent relistings on the London Stock Exchange. The results show that voluntary suspensions produce an abnormal return series very similar in pattern to the exchange-initiated suspensions observed elsewhere. The paper then examines the role of media coverage on price movements around the suspension. In the pre-suspension period the quantity of news is positively associated with abnormal returns. Subsequent to relisting, the impact of media coverage switches from a quantitative role to a more qualitative role. Other evidence shows that the price reaction around the suspension is consistent with a convergence of beliefs, that the length of the suspension period is not significant, and media coverage does not increase the heterogeneity of investor beliefs. Overall the results suggest incremental media information may have a significant association with price movements.
      PubDate: Mon, 9 Jul 2012 11:09:37 GMT
  • Volume 9 Issue 1 - Insider Trading in the Presence of Market Mispricing of
           Discretionary Accruals
    • Abstract: Zhang, Wei This paper investigates whether insiders exploit market mispricing of discretionary accruals by examining how insider activities and insider gains are related to discretionary accruals. The analysis suggests that insider selling activity and selling gains increase (and insider purchasing activity and purchasing gains decrease) in the presence of higher levels of discretionary accruals. In addition, the relation between insider selling activities and discretionary accruals is weaker towards the end of the fiscal year, implying that insiders avoid selling immediately before price declines in an attempt to deflect investor and regulator scrutiny.
      PubDate: Mon, 9 Jul 2012 11:09:08 GMT
  • Volume 8 Issue 1 - A Test of the Fama-French Three Factor Model in the
           Australian Equity Market
    • Abstract: Drew, Michael E; Veeraraghavan, Madhu Studies that have investigated the cross-section of average returns on common stocks in the United States have found evidence that factors related to firm size (market equity) and style (book equity to market equity) help explain the cross-section of average stock returns. This paper tests the explanatory power of such factors in Australia. Further, we also investigate the claim that the size and style effect is the result of seasonal phenomena. We find general support for the three-factor model of Fama and French (1996). We also reject the claim that these effects are exclusively a seasonal phenomenon.
      PubDate: Mon, 9 Jul 2012 11:08:39 GMT
  • Volume 9 Issue 1 - Revisiting Externalities and Exploring the
           Environmental Account as a Basis for Internalising External Costs
    • Abstract: Mathews, MReg The inclusion of externalities in the costs of production of goods and services has not received much attention in the accounting literature. This paper considers how externalities may be internalised by either regulation and pricing, pollution permits, eco-taxation, charging for the provision of services by the public sector, or the use of an environmental equity account (after Boone and Rubenstein, 1997).
      PubDate: Mon, 9 Jul 2012 11:08:02 GMT
  • Volume 9 Issue 1 - A Multidisciplinary Perspective on the Evolution of
           Corporate Investment Decision Making
    • Abstract: Dempsey, Michael J This paper offers a multidisciplinary perspective on the evolution of corporate investment decision-making theory and practice since the middle of the 20th century. To this end, perspectives from across the Finance, Management Accounting and Strategic Management disciplines are provided. Additionally, the paper considers the current potential for integration across our understandings from these disciplines. Accordingly, the article should be of interest to students and educators who wish to reconcile their understanding of corporate investment decision-making across financial, accounting, management and strategic perspectives.
      PubDate: Mon, 9 Jul 2012 11:07:12 GMT
  • Volume 8 Issue 2 - Internal Control Re-design: An Exploratory Study of
           Australian Organisations
    • Abstract: Stringer, Carolyn; Carey, Peter This field study examines internal control re-design in eight Australian organisations. Interviewees emphasise the importance of building control into the system; whether control is built into the culture of the organisation's environment (e.g. integrity and ethical values, accountability), or computer controls built into the information system. The new patterns of accountability associated with empowerment mean that traditional internal accounting controls such as multiple layers of authorisations and checking (which typically occurred prior to an activity) are being replaced with control procedures designed to monitor in real time or after the event. As expected, many of the traditional accounting controls (e.g. multiple layers of authorisation, cross-checking, supervision, segregation) are of diminished importance for effective control. Our results provide some practical guidance to organisations embarking on control system re-design, as well as assistance to auditors in designing appropriate audit procedures for a changing control environment. Implications for auditing standards are discussed.
      PubDate: Mon, 9 Jul 2012 11:06:54 GMT
  • Volume 8 Issue 2 - Reporting of Roads by NSW Local Councils - Survival of
           the Fittest
    • Abstract: Pilcher, Robyn With the introduction of AAS 27 Financial Reporting by Local Governments, local councils were required to change dramatically their reporting of infrastructure assets, including road networks. This paper examines the recording, maintenance and depreciation of roads in a sample of NSW local councils. Inconsistencies highlighted suggest that whether councils report an operating surplus or an operating loss (due to the inclusion of a depreciation expense), influenced their willingness to comply with current reporting requirements. Also evident was the ability of perceptions of different stakeholders to influence accountants (agents) when reporting on infrastructure assets and resulting performance indicators. Issues identified provide enough doubts about whether councils can be held accountable in discharging their financial management duties under current legislation to warrant further investigation. The growing emphasis on perform or perish provides too little incentive for councils to manage their assets in a holistic manner.
      PubDate: Mon, 9 Jul 2012 11:05:48 GMT
  • Volume 8 Issue 1 - The Value of Public Sector Annual Reports and Annual
           Reporting Awards in Organisational Legitimacy
    • Abstract: Ryan, Christine; Dunstan, Keitha; Brown, Jennet Despite considerable diversity in Australian public sector organisations, annual reports have been promoted as an appropriate tool to discharge the accountability of all government agencies. Further, annual reporting competitions have been promoted as a means of ensuring the quality of those annual reports. The limited prior research which addresses these issues ignores the possibility that there may be a variation in the value of both the annual report and the competition depending on the type of public sector organization. This study applies institutional theory, informed by accountability theory, to understand the influence of stakeholders on the annual reporting practices and policies adopted by organisations. It focuses on the Queensland public sector and the Queensland Annual Reporting Award (QARA) and uses a series of case studies to examine the value of the annual report. Consistent with institutional theory, the results indicate that both the annual report and competition entry were used as legitimising tools. Further, cross sectional variation in the perceived value of the annual report and the entry into the annual reporting competition was found.
      PubDate: Mon, 9 Jul 2012 11:04:30 GMT
  • Volume 8 Issue 1 - New Economy Initial Public Offerings in Australia
    • Abstract: Murgulov, Zoltan; Naughton, Tony This study provides insights to the short and long-term performance of the Initial Public Offerings (IPOs) for new economy companies that listed on the Australian Stock Exchange in the period 1995 to 2000. New economy IPOs provided high average initial returns to subscribing investors although there is also evidence on severe overpricing. However, despite these high initial returns, Australian new economy IPOs do not on average under perform the market benchmark in the long run. The presence of some highly overpriced initial equity offerings provides support for the existence of informational asymmetry between informed (institutional) and uninformed (retail) investors in the Australian new economy IPO market.
      PubDate: Mon, 9 Jul 2012 11:03:54 GMT
  • Volume 8 Issue 1 - The Economics of Choice of Superannuation Fund
    • Abstract: Drew, Michael E; Stanford, Jon D This study considers the economics of choice of superannuation fund from the fund member perspective. Compulsory contributions on behalf of employees are made from two sources, the superannuation guarantee and award superannuation, but employees cannot currently choose where to place these contributions. Choice of fund is the prerogative of the employer or determined by an award. An analysis of the economics of superannuation choice reveals that fund members, whose goal is to maximise their terminal values, are best suited to a fund with a high proportion of equities and a low-cost management style. The study supports the Wallis Committee recommendations on choice, but indicates the Committee has overestimated the transitional problems and costs. We find that the previous failed government legislation was over prescriptive, arguing that the preferred policy for members is unlimited choice.
      PubDate: Mon, 9 Jul 2012 11:03:25 GMT
  • Volume 10 Issue 2 - Asymmetric Opportunities, Attrition Effects and the
           Firm Size-growth Relationship
    • Abstract: Davies, Andrew; Hillier, David; Mohamed, Suleiman R This study examines the effect of asymmetric business opportunities on the validity of Gibrat's Law for companies in the United Kingdom housing sector. We show, using the population of all building societies in existence during the 1980s and early 1990s, that the relationship between firm-size and growth was not homogeneously flat for all firm sizes. Our results suggest that building society firms sought high growth in order to break through this threshold thus resulting in a positive firm size-growth relationship. Firms above this threshold had no need to maximize growth and as a result, Gibrat's Law held for these firms.
      PubDate: Mon, 9 Jul 2012 11:02:27 GMT
  • Volume 12 Issue 2 - Behind the Headlines: An Analysis of Australian
           Commonwealth, State and Territory Budget Balance Numbers
    • Abstract: Wines, Graeme; Scarborough, Helen The introduction of accrual accounting principles for government reporting in recent years has been complicated by the presence of two alternative financial reporting frameworks, the Government Finance Statistics (GFS) framework and the Australian professional accounting standard rules. This paper presents the findings from a study of the 2004-05 and 2005-06 annual budgets prepared by the Australian Commonwealth government and the governments of the six Australian States and the two Australian Territories. The study examined the basis for the budget balance numbers (government surplus or deficit) headlined in the budgets of each of the nine governments over the two-year period. Findings indicate the adoption of varying measurement bases and a resultant lack of inter-governmental and inter-temporal comparability. A number of departures from the measurements prescribed in the reporting frameworks were also observed.
      PubDate: Mon, 9 Jul 2012 11:01:13 GMT
  • Volume 12 Issue 2 - Behavioural Effects of Reliance on Financial
           Performance Measures: A Study of the Financial Services Sector
    • Abstract: Lau, Chong M; Mahalingam, Shima M 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 non-financial 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 non-financial measures. The results of this study, which is based on a sample of 112 financial service sector managers, support these expectations.
      PubDate: Mon, 9 Jul 2012 10:59:20 GMT
  • Volume 12 Issue 2 - Accounting Impediments to Better Superannuation Fund
    • Abstract: Gallery, Gerry; Gallery, Natalie Financial reporting is a key governance mechanism by which superannuation fund trustees are accountable to fund members and other stakeholders. Apart from highly aggregated information contained in abridged financial reports, information disclosed to members in annual reports is unregulated and generally unaudited. This situation presents scope for trustees to manipulate disclosures, thus potentially misleading fund members and adversely affecting their decisions. Using a large superannuation fund as a case study, we investigate the quality of superannuation fund financial disclosure practices and the extent to which they are unbiased. Our findings reveal a lack of transparency in superannuation fund reporting that limits the usefulness of disclosures as a fund governance mechanism.
      PubDate: Mon, 9 Jul 2012 10:58:51 GMT
  • Volume 12 Issue 2 - Australia's Retail Superannuation Fund Industry:
           Structure, Conduct and Performance
    • Abstract: Clements, Adam; Dale, Gemma; Drew, Michael E In this analysis of Australia's superannuation arrangements it is our conjecture that the structure and conduct of the retail superannuation industry in Australia directly impacts performance, resulting in the delivery of costly funds management products which add minimal value for investors over the long term. In this study, we take the perspective of an investor faced with selecting a retail superannuation fund, and explore the extent to which various differentiating characteristics (such as style, rating and cost) provide insights into fund quality which uses a variety of asset pricing models for the period 1991 through 2003. The results of this study, suggest that investors cannot garner superior risk-adjusted returns through reliance on such characteristics.
      PubDate: Mon, 9 Jul 2012 10:58:26 GMT
  • Volume 12 Issue 1 - Managing Academic Dishonesty in Australian
           Universities: Implications for Teaching, Learning and Scholarship
    • Abstract: Brimble, Mark; Stevenson-Clarke, Peta For institutions of higher education, academic dishonesty is an ever-present problem that many would suggest is exacerbated by: technological advancements that make it increasingly easier for students to access and misuse resources; relatively scarce funds to counter the problem; and a culture of acceptance within the student population. This paper examines the reporting and management of academic misconduct via an analysis of data obtained from surveys of 1206 students and 190 academic staff at four major Queensland universities. Both students and staff are found to be unlikely, for various reasons, to report suspicions of academic misconduct to their institutions. Staff seem to recognise the importance of the problem, however, with many indicating they have altered the delivery of their courses in an attempt to address the situation, although individual efforts are often hampered by a lack of resources as well as by a lack of coordinated institutional support. Given that a majority of surveyed staff believe that the incidence of academic misconduct has increased over the past five years, we suggest that a more concentrated and coordinated effort is required to support both the current efforts of academics and the development of further strategies to manage the problem.
      PubDate: Mon, 9 Jul 2012 10:57:32 GMT
  • Volume 12 Issue 1 - Activity-based Costing and Management in Budgetary
           Devolution and University Reforms
    • Abstract: Arnaboldi, Michela; Azzone, Giovanni As in a number of other countries, Italy has undertaken a fundamental process of reform of its higher education system. These reforms introduced increased autonomy for universities locally, but this is offset by the need to control costs and manage public spending efficiently. Central support services are a significant part of total university budget and both academic managers and the government seek new instruments to account for these costs. This paper focuses on this issue, presenting the results of the application of a specific accounting method - activity based management (ABM) - to central support services in fourteen Italian universities. The participative approach adopted allowed a tailoring of ABM, developing a hierarchical scheme divided in two levels which provides cost information for different purposes and users. The framework was applied successfully in all the universities involved, providing more meaningful and detailed numbers compared to traditional cost accounting methods.
      PubDate: Mon, 9 Jul 2012 10:56:48 GMT
  • Volume 15 Issue 2 - Notes to Authors
    • PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 15 Issue 2 - Editorial Policy
    • PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 15 Issue 2 - Time Series and Cross-sectional Dynamics of Accounting
           Rate of Return and the Prediction of Cash Flow Per Ordinary Share
    • Abstract: Kelly, Gary; Tahir, Mohammad Iqbal This paper investigates the time series and cross-sectional behaviour of the Accounting Rate of Return (ARR) and tests whether ARR is a good predictor of the Cash Flow Per Share (CFPS). Both of these financial variables are of interest to investors, financial analysts and academic researchers. To address these research questions, we use the Butler, Holland and Tippett (1994) model and ordinary least squares regressions to a sample of 44 Australian firms for the period from 1970 to 1990. Time series results indicate that ARR follows a mean-reverting process at individual and aggregate levels, and that it is a poor predictor of CFPS. Cross-sectional results for ARR and CFPS suggest random processes without substantial drift patterns.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 15 Issue 2 - Measuring the Efficiency of Customer-related
           Strategies: A Review of the Literature and Agenda for Research
    • Abstract: Smith, Malcolm; Chang, Chen This paper seeks to use the available literature to develop an appropriate model that might be used to predict firm financial performance. This model indicates the impact of customer-related strategies on both, non-financial (service quality, customer satisfaction and customer loyalty) and financial (customer lifetime value) customer measures, and ultimately on firm performance. The model also explores the interrelation between customer lifetime value and strategies. The paper concludes with a future research agenda based on a new conceptual model, embracing an alignment of customer-related strategies, measures and firm performance in order to facilitate a more effective integration of marketing with finance in business.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 15 Issue 2 - Contingency Perspectives on Environmental Accounting:
           An Exploratory Study of Local Government
    • Abstract: Qian, Wei; Burritt, Roger L Environmental accounting studies that adopt contingency perspectives are largely anecdotal, and very few of these studies focus on the public sector, such as local government. On the path towards sustainable community, local government plays a pivotal role in local environmental management and needs to be accountable for its environmental management and performance. Using the case study method, this paper explores how contingency factors have influenced the development of environmental accounting for recycling and waste management in local government of New South Wales, Australia. The study finds that the changing recycling and waste management environments and proactive environmental strategies provide strong incentives for environmental managers to identify full environmental accounting information. Also, the managers' decisions on whether to use environmental accounting information depend on the complexity of waste and recycling management operations and designs.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 16 Issue 1/2 - Escalation of Commitment to Unprofitable Projects:
           An Experimental Investigation of the Effect of Conformity Pressure and
    • Abstract: Chong, Vincent K; Syarifuddin, Imran This paper examines the effect of conformity pressure and the personality trait of self-esteem on managers' project evaluation judgements. A laboratory experiment was conducted to test the hypotheses formulated in this study. The results of this study suggest that project managers tend to escalate when conformity pressure is present. In addition, the results reveal that, when conformity pressure is present, project managers with high self-esteem are more inclined to continue pursuing a failing project than those with low self-esteem.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 15 Issue 2 - Topic Index
    • PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 15 Issue 2 - Author Index
    • PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 16 Issue 1/2 - The Combined Effect of Costing and Performance
           Management Systems on Performance, Moderated by Strategy: Australian
    • Abstract: James, Wendy; Elmezughi, Abdalla In this paper we examine the relationship between costing systems and performance management systems and their combined effect on performance under alternative competitive strategies across a number of industry sectors in Australia. A structured questionnaire approach to data gathering is utilised. The findings report that cost leader firms that use a combination of activity-based costing (ABC) and balanced scorecard (BSC) have greater organisational performance, customer performance and innovation performance compared with differentiator firms. In addition, cost leader firms that use a combination of ABC and the BSC have improved their innovation and financial performance more than those who use ABC without BSC or those who use BSC without ABC. Furthermore, differentiator firms that use BSC without ABC have improved customer performance when compared with those that use a combination of ABC and BSC. The study also revealed that the use of ABC and the BSC is contingent on the strategy a firm pursues. Hence, this component is included as an independent factor.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 16 Issue 1/2 - Third Global Accounting and Organizational Change
           Research Conference 2012
    • PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 16 Issue 1/2 - Topic Index
    • PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 16 Issue 1/2 - Author Index
    • PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 16 Issue 1/2 - A Look Inside the Performance Auditing Box:
           Victoria's New Ticketing System Tender
    • Abstract: Kells, Stuart Performance auditing is a feature of public administration in many countries, but its nature is poorly understood - in part because its inner workings are normally secret. In Victoria, details of a controversial performance audit were released in the course of parliamentary hearings, which provide an unusual opportunity to study the internal machinations of performance auditing. This paper uses information from the hearings and Keen's (1999) theoretical framework as the basis for a case study of performance auditing. Keen's framework features three judgement criteria: correspondence, coherence and consensus. All three criteria were applied in the Victorian performance audit, as well as transparency as a fourth criterion. The paper sheds light on how performance auditors operate, and it examines the basis and reliability of their conclusions.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 16 Issue 1/2 - Notes to Authors
    • PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 14 Issue 2 - Corporate Social Performance and Financial Performance
    • Abstract: Kristoffersen, Inga; Gerrans, Paul; Clark-Murphy, Marilyn The debate on whether corporate social performance and financial performance are substitutes or complements has been long and unresolved. The evidence presented in this paper demonstrates that there are clear associations between measures of corporate environmental, social and governance performance and financial characteristics and, moreover, that they are sensitive to industry classification. There is no evidence of trade-offs between environmental, social and governance performance and shareholder wealth, in terms of either risk or return. For firms in the banking, diversified financials, insurance and telecommunications industries high governance performance is strongly related to superior financial performance.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 14 Issue 2 - A Critical Comment on the Analysis of Shared Services
           in the Queensland Local Government Association's Size, Shape and
           Sustainability Program
    • Abstract: Dollery, Brian; Akimov, Alexandr Recent national and state-based inquiries into the financial circumstances of Australian local councils have demonstrated unequivocally that many municipalities are in a parlous monetary state. This has inter alia shed severe doubt on the efficacy of recent forced amalgamation programs in several Australian local government jurisdictions and has stimulated the search for alternative methods of improving the operational efficiency of local councils in an effort to generate costs savings. While all these inquiries have recommended shared service institutional arrangements as the best alternative to amalgamation, only the now defunct Queensland Local Government Association's (2006) Size, Shape and Sustainability Program has provided a detailed analysis of the purported benefits of shared services. In this paper, we show that the Size, Shape and Sustainability Report and its main supporting study are fraught with errors and misleading interpretations of available evidence on shared services and should thus be treated with great caution in future by local government policymakers.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 14 Issue 1 - Moving to Sustainability: An Application of a Matrix
           Model to Gain Insight into the Research Literature
    • Abstract: McGrath, Dianne; Mathews, MReg This paper proposes a matrix structure to gain an insight into the research literature that has provided the basis for the development of the current concept of sustainability. The literature during the decade 1995 to 2005 is adopted for the purpose of providing an example of the matrix structure. As noted by Gray (2002), this research field serves a diverse purpose and may be perceived as lacking in coherence. This perception may be particularly true for those new to the field. The matrix model adopted in this paper is an extension of the matrix model developed by Mathews (2004), which built on an earlier framework (Mathews, 1997b) to organise the literature. The Mathews (2004) extended model combined the underlying research philosophies with the nature of the research. The inclusion of time and nation of origin, as quasi measures of the underlying social, economic and political forces, presents an opportunity to gain a greater appreciation of the drivers of sustainability accounting research. The intention of the matrix model is to provide researchers, especially those with less experience, with a system for the classification of the sustainability literature.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 13 Issue 2 - What Drives the Fledgling Practice of Social and
           Environmental Reporting by Chinese Companies Listed in Hong Kong'
    • Abstract: Taylor, Dennis; Shan, Yuan George Are the Western-developed theoretical perspectives of public legitimation, government-imposed political costs, media agenda setting, management strategic posturing with stakeholders and economic performance able to explain the fledgling practice of corporate social and environmental reporting (CSER) by Chinese listed companies' To address these questions, this study provides evidence from annual reports and other public data of the top 56 companies on the H-share and Red-chip lists of the Hong Kong Stock Exchange. Quantitative and qualitative CSER disclosure scores and surrogate measures for elements of legitimacy and stakeholder theories (namely, size of company, media attention, extent of charitable donations and equity systematic risk) are empirically modelled. The results find that elements of legitimacy theory are less effective than stakeholder theory in explaining voluntary CSER by H-share and Red-chip companies. The conclusion is that Western-derived theories only partially hold up as relevant drivers of voluntary CSER by Chinese companies. The reasons proffered are that government influence through appointments to corporate boards, government focus on economic performance, corporate dealings with the media and management cultural-orientation related to strategic posturing in China differ from what is seen in the West.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 13 Issue 2 - Examining the Accountability of Senior Australian
           Rules Football Clubs in Country Victoria
    • Abstract: Halabi, Abdel K This paper examines accountability issues relating to senior Australian Rules football clubs in country Victoria. While country Australian Rules football clubs have been in existence for many years, there has been a lack of empirical research linking these with accounting. In the present study, there were 177 responses to a mail out survey exploring the financial accounting reports produced by these clubs and also transparency issues. The results found all clubs produced a profit and loss report, however the larger major league football clubs are significantly more accountable than district clubs in that they were more likely to prepare a budget, a balance sheet and use software to record financial information.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 13 Issue 2 - Earnings Forecasts and CEO Stock Options: Some
           Australian Evidence
    • Abstract: Chang, Millicent; Leow, Li-Vern; Watson, Iain In this paper we examine the relationship between the decision to issue earnings forecasts and the value of CEO stock options granted. We question whether earnings forecasts are opportunistically disclosed to influence this part of managerial compensation. Our sample consists of Australian firms that both issued forecasts and rewarded their CEOs with stock options between 1996 and 2001. Our results show that larger firms are more likely to release forecasts and firms increased the number of forecasts made when they planned to issue equity while decreasing them when returns were volatile. The CEO's total compensation was influenced by firm size and firm complexity and the release of earnings forecasts was positively related to the value of options awarded to them. While the release of earnings forecasts does not appear to be common practice, Australian CEOs signal their talent to shareholders through forecasts and are compensated accordingly with increased stock options.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 13 Issue 1 - A Note on Performance Measurement in Victorian Local
    • Abstract: Dollery, Brian; Manley, Kim Performance measurement is designed to enable complex organizations to improve service outcomes and meet accountability requirements. However, the multifaceted nature of local government makes it particularly difficult to design and implement efficacious performance measurement systems. Against the institutional backdrop of Australian national local government performance measurement guidelines, this paper considers performance measurement in the Victorian local government performance reporting regime. 'Best Value Victoria' program is assessed against good practice performance measurement principles and various tentative policy implications deduced.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 13 Issue 1 - Do Directors' Trades Convey Industry Information'
    • Abstract: Chang, Millicent; Chopra, Pranav We investigate whether directors' trades contain industry information and if investors can profit by mimicking these trades. Using a sample of Australian firms with reported director trading activity between 2002 and 2003, the results show that by selling shares in industry-matched firms when a director reports a sale, an average loss of 1.32% (median of 4%) can be avoided over a six month period. Larger losses can be avoided when mimicking executive directors' trades. The losses avoided by such trades are directly explained by the losses avoided by directors themselves, consistent with the trades conveying industry information.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
  • Volume 10 Issue 1 - Accounting for Railway Heritage Assets: An Evaluation
           of Australian Reporting Practice
    • Abstract: Phillip, Gregory J; Stanton, Patricia A In recent years accounting regulatory authorities have sought to include community assets on the balance sheet of public sector entities. There has been innate resistance from some controllers of community assets to enforced recognition. Previous studies in this area have concentrated on large public museums. The focus of this paper is to establish whether identification, preservation and perceived accountability for railway heritage assets can be appropriately satisfied through the currently imposed financial reporting mechanism. In order to evaluate the financial reporting regime of railway heritage custodians, a questionnaire was used, complemented by a sample of financial reports of custodial entities, a visit to a heritage railway and inspection of government records. The authors found that railway heritage assets, exemplified by steam locomotives, are only recognized when owned, custodial entities do not perceive themselves as reporting entities and are not generally accountable to the wider community outside their own membership.
      PubDate: Mon, 9 Jul 2012 10:56:16 GMT
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