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Politicisation Of The International Accounting Standard Setting Process: Evidence From The Extractive Industries, Corinne L. Cortese
Politicisation Of The International Accounting Standard Setting Process: Evidence From The Extractive Industries, Corinne L. Cortese
Faculty of Business - Papers (Archive)
Purpose - The purpose of this paper is to provide a detailed example of the way in which extractive industries constituents participated in the setting of the international accounting standard for the extractive industries, IFRS 6 - Exploration for and Evaluation of Mineral Resources. Design/methodology/approach - A cross-section of extractive industries constituents is selected and their participation in the accounting standard setting process is examined via analysis of their comment letters and other interactions with the process. Findings - The paper contributes to our understanding of the politicised nature of accounting standard setting for the extractive industries. In doing so, …
Does Bank Ownership Imply Efficient Monitoring? Evidence From Bank Lending And Firm Investment Efficiencies In China, Gary G. Tian, Xiaofei Pan
Does Bank Ownership Imply Efficient Monitoring? Evidence From Bank Lending And Firm Investment Efficiencies In China, Gary G. Tian, Xiaofei Pan
Faculty of Business - Papers (Archive)
This study investigates the effect of bank ownership on lending and firm investment efficiencies to give reasons for the mixed evidence that exists on the impact of bank ownership on firm performance. Using China's listed firms as an example, we find that bank ownership reduces the efficiency of bank lending and harms investment efficiency for state-owned enterprises (SOEs), while simultaneously relating to optimal lending decisions and enhanced investment efficiency for non-SOEs. Our findings suggest that banks monitor non-SOEs effectively, but are less effective at monitoring SOEs. We document that banks' ex post monitoring on non-SOEs' investment policy results from their …
Mutual Fund Ownership, Firm Specific Information, And Firm Performance: Evidence From China, Wenhua Sharpe, Gary Tian, Hong Feng Zhang
Mutual Fund Ownership, Firm Specific Information, And Firm Performance: Evidence From China, Wenhua Sharpe, Gary Tian, Hong Feng Zhang
Faculty of Business - Papers (Archive)
This paper shows empirically that the positive association between mutual fund ownership and firm value in China is mainly driven by the informed trading of mutual funds. Utilizing the unique short term feature of mutual fund holdings for the period from 2001 to 2010, we provide an informational link between a decomposed component of market-to-book ratio (firm specific valuation component) and mutual fund holdings. Specifically, we find that firms with a higher level of mutual fund ownership are associated with a higher specific value. Moreover, the positive association between the specific value of a firm and mutual fund ownership is …
Determinants Of Wage Arrears And Their Implications For The Socioeconomic Wellbeing Of China's Migrant Workers: Evidence From Guangdong Province, Zhiming Cheng, Ingrid Nielsen, Russell Smyth
Determinants Of Wage Arrears And Their Implications For The Socioeconomic Wellbeing Of China's Migrant Workers: Evidence From Guangdong Province, Zhiming Cheng, Ingrid Nielsen, Russell Smyth
Faculty of Business - Papers (Archive)
This study has three purposes. The first is to examine the determinants of wage arrears among rural-urban migrants in China. The second is to examine the effect of wage arrears on economic wellbeing as proxied by wages. The third is to examine how experiencing wage arrears affects several subjective indicators of wellbeing, such as feelings of belongingness and discrimination in the city. To examine the determinants of wage arrears and its implications for socioeconomic wellbeing, we employ pooled data from a unique representative dataset collected in Guangdong province, one of the major destinations for migrants in China, for the years …
Trade Liberalisation, Labour Productivity Growth And Skilled Labour Complement: Evidence From The Thai Manufacturing Sector, Piyapong Sangkaew, Kankesu Jayanthakumaran
Trade Liberalisation, Labour Productivity Growth And Skilled Labour Complement: Evidence From The Thai Manufacturing Sector, Piyapong Sangkaew, Kankesu Jayanthakumaran
Faculty of Business - Papers (Archive)
Trade liberalisation in Thailand raised two wider questions regarding the labour market-one with regards to the link with labour productivity and the other the link with skilled workers. This outcome provides a link between (1) trade liberalisation and labour productivity growth, and, (2) skilled employment and labour productivity growth. Trade liberalisation is also correlated with skilled employment. This type of evidence matches conventional explanations for the beneficial allocation of trade liberalisation and demanding skills training for potential future industrial growth.
Employment Effects Of Army Service And Veterans' Compensation: Evidence From The Australian Vietnam-Era Conscription Lotteries, Peter Siminski
Employment Effects Of Army Service And Veterans' Compensation: Evidence From The Australian Vietnam-Era Conscription Lotteries, Peter Siminski
Faculty of Business - Papers (Archive)
Exploiting Australia's National Service lotteries of 1965 to 1972, I estimate the effect of army service on employment outcomes. Population data from military personnel records, tax returns, veterans' compensation records, and the Census facilitate a rich and precise analysis, identified by 53,000 complying conscripts. The estimated employment effect is -12 percentage points (95% CI: -13, -11) overall, -37 for those who served in Vietnam and 0 for those who served only in Australia. It emerged in the 1990s, mirrored by veterans' disability pension effects. These results contrast with those for the United States, possibly reflecting employment disincentives associated with Australia's …
Thai Manufacturing Small And Medium Sized Enterprise Technical Efficiency: Evidence From Firm-Level Industrial Census Data, Teerawat Charoenrat, Charles Harvie, Yot Amornkitvikai
Thai Manufacturing Small And Medium Sized Enterprise Technical Efficiency: Evidence From Firm-Level Industrial Census Data, Teerawat Charoenrat, Charles Harvie, Yot Amornkitvikai
Faculty of Business - Papers (Archive)
Thai manufacturing small and medium sized enterprises (SMEs) face intense competition in domestic and foreign markets. Given their importance to the economic development of the country it is important to have a clear understanding of their readiness to face the rigors of international competition, including the barriers and specific problems that they face. This study uses a stochastic frontier analysis (SFA) and technical inefficiency effects model to analyze the technical efficiency of Thai manufacturing SMEs and key factors impacting upon it. Analysis of cross-sectional data from a 2007 census of Thai manufacturing SMEs indicates that their weighted average technical efficiency …
Do Countries Belonging To The Same Region Suggest The Same Growth Enhancing Variables? Evidence From Selected South Asian Countries, Arusha Cooray, Antonio Paradiso, Francesco Giovanni Truglia
Do Countries Belonging To The Same Region Suggest The Same Growth Enhancing Variables? Evidence From Selected South Asian Countries, Arusha Cooray, Antonio Paradiso, Francesco Giovanni Truglia
Faculty of Business - Papers (Archive)
We investigate the growth enhancing variables in a group of countries belonging to the same geographical area namely, India, Sri Lanka, Pakistan and Bangladesh over the period 1960-2010. We find that this "homogeneity" does not necessarily imply that countries have the same growth enhancing variables due mainly to differences in institutions and policies. Our result suggests that time-series econometrics are preferable to identify the growth drivers for a country accurately.
Trade Liberalisation And Manufacturing Wage Premiums: Evidence From Thailand, Kankesu Jayanthakumaran, Piyapong Sangkaew, Martin O'Brien
Trade Liberalisation And Manufacturing Wage Premiums: Evidence From Thailand, Kankesu Jayanthakumaran, Piyapong Sangkaew, Martin O'Brien
Faculty of Business - Papers (Archive)
This paper investigates trade related industrial wage premiums. The procedure involves (1) estimating industrial wage premiums and (2) linking those estimated wage premiums to trade related variables. Results reveal that (1) in addition to workers' characteristics, industry characteristics where workers are employed were important in determining the wages for workers, (2) falling output tariffs resulted in increased wage premiums, and (3) an increase in intermediate imports exerted a strong positive influence on wage premiums. Linked employer and employee micro data may provide further insights which are currently not available.
The Dynamics Of Resource-Based Economic Development: Evidence From Australia And Norway, Simon Ville, Olav Wicken
The Dynamics Of Resource-Based Economic Development: Evidence From Australia And Norway, Simon Ville, Olav Wicken
Faculty of Business - Papers (Archive)
Australia and Norway have achieved modern levels of development as resourcebased economies, thus avoiding the so-called resource curse. Their ability to achieve this rested heavily on repeated diversification into new resource products and industries. These processes relied largely on innovation, confirming the close ties that have existed between resource-based industries and knowledgeproducing and disseminating sectors of society. We develop a resource-based diversification model that analyses the interaction between "enabling sectors" and resource industries and apply it to the historical experience of the two countries.
Does Political Capital Create Value In The Ipo Market? Evidence From China, Qigui Liu, Jinghua Tang, Gary Gang Tian
Does Political Capital Create Value In The Ipo Market? Evidence From China, Qigui Liu, Jinghua Tang, Gary Gang Tian
Faculty of Business - Papers (Archive)
This study examines the value of political capital in the Chinese IPO market. We find a positive relationship between a politically connected executive and the probability of IPO approval of entrepreneurial firms. We further identify that shareholders value those connections and give a market premium to connected firms after the firms go public. We provide evidence that other types of political capital gained through external sources, such as politically connected sponsors and PE investors, also bring benefits to the firms in their IPO approval, and these connections substitute for the effect of the executive's political connections on IPO approval. We …
The Impact Of Pre-School On Adolescents' Outcomes: Evidence From A Recent English Cohort, Patricia Apps, Silvia Mendolia, Ian Walker
The Impact Of Pre-School On Adolescents' Outcomes: Evidence From A Recent English Cohort, Patricia Apps, Silvia Mendolia, Ian Walker
Faculty of Business - Papers (Archive)
This paper investigates the relationship between attendance at pre-school school and children's outcomes into early adulthood. In particular, we are interested in: child cognitive development at ages 11, 14 and 16; intentions towards tertiary education; economic activity in early adulthood; a group of non-cognitive outcomes such as risky health behaviour; and personality traits. Using matching methods to control for a very rich set of child and family characteristics, we find evidence that pre-school childcare moderately improves results in cognitive tests at age 11 and 14, and 16. Positive effects are especially noticeable for girls and children from disadvantaged socio-economic backgrounds. …
Evidence On The Convergence Of Per Capita Income: A Comparison Of Founder Members Of The Association Of South East Asian Nations And The South Asian Association Of Regional Cooperation, Kankesu Jayanthakumaran, Shao-Wei Lee
Evidence On The Convergence Of Per Capita Income: A Comparison Of Founder Members Of The Association Of South East Asian Nations And The South Asian Association Of Regional Cooperation, Kankesu Jayanthakumaran, Shao-Wei Lee
Faculty of Business - Papers (Archive)
This paper investigates the per capita income convergence patterns of a set of Association of South East Asian Nations (ASEAN) and South Asian Association of Regional Cooperation (SAARC) countries. We obtained a time-series analysis for stochastic convergence by applying unit-root tests in the presence of two endogenously-determined structural breaks. We then supplemented the results by tests that produced evidence for b convergence. The evidence shows that the relative per capita income series of ASEAN-5 countries were consistent with stochastic convergence and b convergence, but this was not found for SAARC-5 countries. For the ASEAN-5 countries, the structural breaks associated with …