Australian Journal of Management articles from June 2008

Australian Journal of Management archives from June 2008

The subprime mortgage meltdown.(Editorial)
June 1, 2008... 'The mortgage industry, a mutant monster organization of lapsed lending standards and arrant grift on the grand scale, is going to implode like a death star under the weight of these non-performing loans and drag every tradable instrument known...

The stairway to the top: the remuneration of academic executives.(Report)
June 1, 2008... Abstract: Australian universities have in recent times been undergoing a substantial transformation in the way in which they are managed. They have moved away from the (British-based) traditional collegiate model to one in which...

An empirical investigation of the level effect in Australian interest rates.(Report)
June 1, 2008... Abstract: An extensive literature examines the dynamics of interest rates, with particular attention given to the positive relationship between interest-rate volatility and the level of interest rates--the so-called level effect. This...

The influence of analyst and management forecasts on investor decision making: an experimental approach.(Report)
June 1, 2008... Abstract: Analyst and management forecasts signal a firm's future prospects, and research suggests that investors are conscious of the differing incentives to release news. We examine investor reaction to the information contained in these...

Australian options.(Report)
June 1, 2008... We study European options on the ratio of the stock price to its average and vice versa. Some of these options have been traded in the Australian Stock Exchange since 1992, thus we call them Australian options. For geometric averages, we obtain...

Cost-of-capital estimation and capital-budgeting practice in Australia.(Report)
June 1, 2008... Abstract: We use a sample survey to analyse the capital-budgeting practices of Australian listed companies. We find that NPV, IRR and Payback are the most popular evaluation techniques. Real options techniques have gained a toehold in...

Pricing bonds in the Australian market.(Report)
June 1, 2008... Abstract: This paper provides an examination of term structure models in the Australian bond market. Specifically, we examine the comparative ability of various models to forecast at the short, medium and long ends of the yield curve....

Size, book to market and momentum effects in the Australian stock market.(Report)
June 1, 2008... Abstract: We examine the significance of the size, book-to-market and momentum risk factors in explaining portfolio returns in the Australian stock market. We compare the CAPM to a four-factor model assuming static risk premia, and find...

Persistence in growth versus market expectations.(Report)
June 1, 2008... Abstract: We measure the persistence and predictability of sales and earnings growth for Australian-listed firms from 1989 to 2006. In contrast to results from the United States, there is evidence of persistence in growth. There is close...

A functionalist framework for identifying business clusters: applications in far North Queensland.(Report)
June 1, 2008... Abstract: The extant literature on industry-cluster identification recommends the use of both quantitative and qualitative data to uncover clusters. We argue for a functionalist approach to identifying clusters. The logic here is that...