Where: Room 3.18, Law and Commerce building
When: Fridays at 12:00 noon, unless otherwise stated
Who can come: All welcome!
Convenor and contact: Abdullahi Ahmed
Material Flow Cost Accounting: Potentials, limitations and advancements
Sigitas Karpavicius (presenter) and Fan Yu
Why are interest expenses tax deductible?
This paper analyzes the impact on firm characteristics and public finance if tax deductibility of interest expenses is eliminated. The results show that firms would significantly reduce their leverage and become less risky. Shareholders would lose 7.3% of their investment as tax shield disappears. The impact of the change in treatment of interest expenses on public finance and macroeconomy is mixed. Government would be able to collect more corporate income taxes. However, the optimal production level would decrease, and price level would increase suggesting that the reform would have a negative impact on the economy.
1:00pm - 2:00pm
Why Marketing and Sociology should talk more to each other
“In my view, adopting a marketing attitude can indeed be economically and politically fruitful for many nations around the world, but it requires a full understanding of the nature of what marketing is about. A woman who is about to get married to a man, whom she believes is sincerely in love with her, but who is in fact only (or also) interested in her money or her body, should be thankful to the friend who – although of a lower status in her view – opens her eyes. Sociology plays the role of the friend in this text. Sometimes the woman ends up marrying the friend instead, because she found out, he was most sincere. I will argue that sociology and social theory can help reconstruct the outdated economic foundation of marketing, thereby ensuring that marketing does not undermine democracy but reinforces it.”
Monday, 30 Sept.
Dr Yuhuan Zhang
Forest pressure index for China
Friday, 20 Sept.
Ms Rosalie Coppin
Mentoring in the workplace: A study of mentoring in allied health and aged care sector
|Friday, 6 September|
Ms Yen Bui
Measuring efficiency of Australian superannuation funds using data envelopment analysis
|Friday, 20 August|
Ms Kathy Rao (presenter) and Prof. Carol Tilt
Corporate governance and corporate social responsibility: A critical review
Ms Hui Situ (presenter), Prof. Carol Tilt, Assoc. Prof. Pi-Shen Seet and Mr Max Smith
Understanding the Chinese government's influence on corporate environmental reporting of Chinese firms
|Friday, 9 August|
Mr Simon Cottrell & Prof. Sarath Delpachitra
Wholesale Funding of Australian Financial Institutions: causes and consequences
The economic literature on capital flight, crowding out in the financial markets suggests that they are strongly related to the interest rate sensitive component of the aggregate demand. Of the two funding options for banks(Retail and Wholesale), the major 4 in Australia have considerable proportions of their funding base made up of wholesale funding although, some lower tier banks (such as Bendigo/Adelaide Bank) had more than half of their funding base in wholesale (Adelaide bank for example). Wholesale funding is funding accessed from international debt markets (i.e. euro market) and/or interbank market. The majority of wholesale funding consists of long term bonds (term funding), securitisation and short term (negotiable certificate of deposits or Euro commercial paper) issued domestically and international. Wholesale funding is usually priced to the respective benchmark interest rate. In Australia, this is the BBSW, Europe the LIBOR and in the US the USCP rate. Each bank is charged a different margin above their respective benchmark interest rates based on variable such as credit ratings, size of the issue and maturity and general economic conditions. The relative importance of these variables and the issues related to term funding are empirical questions yet to be addressed. The most common issue for term funding is one where the interest rates float on the 90 day bank bill swap rate (BBSW). During the sub-prime crisis, wholesale funding came under pressure around the world due in part by a reluctance of banks willing to invest in each other’s CDs and bonds, fuelling the liquidity crisis. The aim of this research is twofold. First it explores the size and scope of wholesale funding in Australia with particular reference to off-shore funding. Second it examines the relative power of interest rate based variable factors in influencing the patterns of wholesale funding in order to address the research question “What causes and consequences leads to the volatility of wholesale funding activities in the Australian banking sector? Overall results suggest that wholesale funding markets are primarily driven by spreads. These spreads are influenced by lag variables such as funding spreads, GDP, exchange rates and the OVN-IS rate however, not the 90 day BBSW, which is interesting. Furthermore, evidence suggests the variables do not show any statistically significant relationship when considering funding volumes.
|Monday, 3 June|
Mr Ludek Seda
Identity theft and university students: Do they know, do they care?
|Monday, 13 May|
Dr. Graciela Corral de Zubielqui
Dr. Janice Jones
Dr. Pi-Shen Seet
Professor Noel Lindsay
Knowledge transfer between actors in the innovation system: A study of higher education institutions (HEIS) and SMEs
Purpose: To understand how and why do SMEs access knowledge from external actors in general and from HEIs in particular and what is the extent to which these knowledge access pathways affect SME innovativeness. Methodology:
|Monday, 6 May|
Tournament design, prize structures and strategic effort-exertion: Evidence from the 'Field'
In some rugby union competitions, in addition to the usual awarding of (four) points for a win, there are also: (i) 'try'; and (ii) 'narrow loss' bonus points on offer. The former presents a rare opportunity in sport to sound out team-specific behaviour (resource allocation of both defensive and attacking effort-exertion), as by conceding the bonus point, the opponent does not lose any points. We test this using ordered response models, finding that significantly more tries are scored in 2002-2012 Super Rugby matches by teams late in matches when they can earn the try bonus point with one more try.
|Monday, 29 April|
Meeting the online competition for undergraduate business students: Innovate or detonate?
This paper examines the challenges posed to traditional methods of teaching undergraduate tax law as a reult of the proliferation of online university education providers. The paper advocates the case for innovation to accentuate teaching as well as the need to assess the effectiveness of such innovations. A case study is provided of an innovation involving ongoing individual assessment and team based learning (TBL) undertaken with undergraduate accounting and law students studying taxation law. The effectiveness of the innovation is assessed by way of student results, teacher's impressions, student feedback and a reflections assignment provided to students. The feedback demonstrated the many benefits of face to face team based learning for university students, teachers and traditional universities, as well as prospective employers.
|Monday, 8 April|
The cost of capital and optimal financing policy in a dynamic setting
This paper revisits the Modigliani-Miller propositions on the cost of capital in the dynamic setting. I find that the firm's optimal capital structure and cost of capital depend on the time preference of the firm's manager, which is ignored by static models. The results show that the optimal captial structure always exists and the weighted average cost of capital decreases with leverage, even in the absence of taxes and bankruptcy costs. In an environment with taxes but without bankruptcy costs, the optimal capital structure is the mix of debt and equity rather than 100% debt. The results do not support the conclusions of Modigliani and Miller (1958, 1963).
|Monday, 18 March|
Jian Liang and Yuan George Shan
The impact of mandatory international financial reporting standards in the UK and Germany on earnings quality: Is corporate governance a matter?
This study operationalizes preparer incentives using a self-constructed corporate governance score and examines the impact of accounting standards and preparer incentives on earnings quality. Our results suggest that International Financial Reporting Standards improve earnings quality in the post-adoption period. High quality standard and efficient governance mechanisms operate as complements in determining the quality of financial reporting in shareholder-oriented countries, whereas in stakeholder-oriented countries, they function as substitutes.
Presenters are from Flinders Business School unless otherwise indicated.