Australian Journal of Management articles from December 2008

Australian Journal of Management archives from December 2008

The dominoes fall: a timeline of the squeeze and crash ...(Editorial)
December 1, 2008... In its leader of October 13, 2008, the Financial Times characterized the western world's banking system as suffering 'the equivalent of a cardiac arrest.' The collapse of confidence in the system means that 'it is now virtually impossible for...

1: Monetary policy surprises and the bank bill term premium.(Report)
December 1, 2008... Abstract: Has Australia's shift to an inflation-targeting monetary policy regime had a significant impact on investors' perception of interest-rate risks' in the market? We find that since 1990, unanticipated adjustments to monetary policy have...

2: Explaining credit ratings of Australian companies--an application of the Merton model.(Report)
December 1, 2008... Abstract: This paper examines how the default likelihood indicator computed from the option-based model of Merton (1974) together with two default-related factors, namely firm size and book-to-market ratio, effectively explain credit...

3: A variable-rate loan-prepayment model for Australian mortgages.(Report)
December 1, 2008... Abstract: This paper is an investigation of Australian mortgage-loan prepayment from a modelling perspective. A prepayment model for loans of mortgage-backed securities is developed specifically for the Australian mortgage market, and then...

4: Share purchase plans in Australia: issuer characteristics and valuation implications.(Report)
December 1, 2008... Abstract: Share purchase plans (SPPs) are of Jered exclusively to a company's registered shareholders, who may purchase up to $5,000 worth of shares in a 12-month period at a discount to the market price and without any brokerage charge....

5: Marketing communication expenditures and financial capital--the impact of marketing as an option.(Report)
December 1, 2008... Abstract: This paper examines the financial effectiveness of marketing communication expenditure (MCE) as an instrument to increase risk-weighted capital. We nest a cross-sectional time-series panel model within the risk-adjusted earnings...

6: Employee participation in continuous improvement programs: the interaction effects of accounting information and control.(Report)
December 1, 2008... Abstract: The design of management accounting control systems (MACS) is an important factor affecting the extent and success of employee involvement in continuous improvement (CI) programs. The results of an experiment reported here indicate...

7: Does disclosure quality via investor relations affect information asymmetry?(Report)
December 1, 2008... Abstract: High disclosure quality can be achieved through an effective investor-relations program and results in firm benefits such as enhanced market exposure, increased analyst coverage and institutional following. We examine the association...

8: Tax effects on the pricing of Australian stock index futures.(Report)
December 1, 2008... Abstract: This paper estimates the impact of the debt tax shield, cash dividends and imputation tax credits on the prices of Australian stock index futures. Relative to futures payoffs, the cost of financing the set of shares of the underlying...

9: The impact of regulations on the informational basis of insider trading.(Report)
December 1, 2008... Abstract: In this paper, we examine the impact of major regulatory changes in New Zealand on the profitability and informational basis of insider transactions. Legislation around the world appears to have tried to encourage insiders to trade...

Measured Success: Innovation Management in Australia.(Book review)
December 1, 2008... Measured Success: Innovation Management in Australia Edited by Peter Cebon, 2008, (Melbourne University Press), paperback, 290 pages. ISBN 978-0-522-85570-8 The recent review of the national innovation system (the 'Cutler Report'...