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Articles 1 - 13 of 13
Full-Text Articles in Business
In At The Deep End: Conducting Processual Research On Organisational Change, Patrick M. Dawson
In At The Deep End: Conducting Processual Research On Organisational Change, Patrick M. Dawson
Faculty of Commerce - Papers (Archive)
This article provides a series of reflections on the practice of carrying out processual research on organisational change. At a broad level, some of the main tasks associated with conducting company case studies are described and the benefits of this approach for dealing with complex change data are outlined. At a more specific level, the article addresses three main areas tied to the actual ‘doing’ of processual research. First, the notion of tacit knowledge and ‘getting your hands dirty’ by engaging in ongoing in-depth fieldwork. Second, the design and implementation of a longitudinal case study research programme. Third, the advantages …
Trade Reform And Industrial Performance: A Survey, Kankesu Jayanthakumaran
Trade Reform And Industrial Performance: A Survey, Kankesu Jayanthakumaran
Faculty of Business - Papers (Archive)
Under structural adjustment programme trade liberalization has been given a prominent role with.the expectation that it would promote exports and productivity. along the. line. of comparative advantages; also it would reduce monopolistic cond.Ittons m the domestic markets and reduce the rice markups. Number of hteratures attempt to test the reform induced p ~ across industr'es. d I . perj_ormance l 't I m eve opmg countries. This paper examines the available t f eratdu re for .t he purpose of ex p lo n·n g some general conclust· ons on this field 0 stu,/' A ~~nk bet~~en tra.de policy and …
Export Processing Zones In Sri Lanka: A Cost - Benefit Appraisal, Kankesu Jayanthakumaran, John Weiss
Export Processing Zones In Sri Lanka: A Cost - Benefit Appraisal, Kankesu Jayanthakumaran, John Weiss
Faculty of Business - Papers (Archive)
Like many countries, Sri Lanka has used Export Processing Zones as a means of promoting manufactured exports. This article uses a cost-benefit approach to estimate the returns to the national economy from the main zones. Overall, the zones are found to be economically efficient with an economic rate of return of 23 per cent. The zones are dominated by textile and clothing firms, however, and returns in other sectors are considerably lower. Unlike zones elsewhere, profits to local investors are a significant part of national benefits.
Contracting Out And The Price Of Burning Bridges, D. J. Johnstone
Contracting Out And The Price Of Burning Bridges, D. J. Johnstone
Faculty of Business - Accounting & Finance Working Papers
The outsourcing of government activities is justified primarily on the grounds of cost savings. In the process of determining whether there are potential savings from contracting out, government agencies are required by various Commonwealth and State Government guidelines to measure the relevant costs of in-house activities and to compare these with external bids. The cost comparison methodology advocated in these guidelines is flawed in that it makes no alIowance for the financial value of the option to contract out (and thus not to contract out). It is wrong to give up (exercise) this option unless the expected cost savings accruing …
Colonialism Of Accounting Education In Developing Countries: The Experiences Of Singapore And Sri Lanka, H. Wijewardena, S. Yapa
Colonialism Of Accounting Education In Developing Countries: The Experiences Of Singapore And Sri Lanka, H. Wijewardena, S. Yapa
Faculty of Business - Accounting & Finance Working Papers
This paper provides a comparative analysis of the nature of accounting education in Singapore and Sri Lanka. Both these countries were British colonies for nearly one hundred and fifty years and inherited their accounting education from the British. Consequently, even after nearly fifty years of independence, Sri Lanka is still following the colonial system for producing its accountants. Singapore, however, has successfully moved away from it within four years of independence. More importantly, the paper indicates that if a developing country continues to depend so heavily on foreign accounting bodies or produces accountants locally through education programmes based on the …
The Minimum Transfer Price Of Services, D. J. Johnstone
The Minimum Transfer Price Of Services, D. J. Johnstone
Faculty of Business - Accounting & Finance Working Papers
The minimum agreeable transfer price in a transfer of goods between autonomous divisions of a decentralised firm is given by what has become known as the "general rule". According to this rule, the least price acceptable to the transferor division is the sum of the transferor's incremental or outlay costs and any associated "foregone contribution" (opportunity cost). The same rule can be shown to apply to transfers of services as well as goods, provided that the transferor's "foregone contribution" is interpreted in relation to the replacement cost of the services (professional time) transferred. Specifically, "foregone contribution" is defined as the …
Corporate Regulation In Australia: Fact Or Fiction, K. Cooper
Corporate Regulation In Australia: Fact Or Fiction, K. Cooper
Faculty of Business - Accounting & Finance Working Papers
This paper recognises and takes as given there is a recurring cycle of regulatory failure, regulatory reform. It also accepts the arguments of a small number of authors that there are flaws within the regulatory mechanism which contribute to the perpetuation of the regulatory failure, regulatory reform cycle. However, this paper argues that these flaws are but a symptom of more deeply seated problems. The regulatory framework is weak in very fundamental and strategic areas including the nature of legislation and accounting standards, enforcement and overall administration. The fact that these weaknesses are not adequately addressed or rectified suggests that …
Lessons From The Financial Theory Of Horse Racing, D. Edelman
Lessons From The Financial Theory Of Horse Racing, D. Edelman
Faculty of Business - Accounting & Finance Working Papers
Throughout history, man's understanding of Risk appears to have been led by those seeking to accumulate wealth through games of chance, and, much later, through investment. Generally, there was little development in the understanding of Risk or Chance until the 18th century, when mathematicians such as Bernoulli, Pascal, Laplace, and others began to investigate and characterise even the most elementary properties of coins and dice.
The Stochastically Subordinated Log Normal Process Applied To Financial Time Series And Option Pricing, D. Edelman, T. Gillespie
The Stochastically Subordinated Log Normal Process Applied To Financial Time Series And Option Pricing, D. Edelman, T. Gillespie
Faculty of Business - Accounting & Finance Working Papers
The method of stochastic subordination, or random time indexing, has been recently applied to Wiener process price processes to model financial returns. Previous emphasis in stochastic subordination models has involved explicitly identifying the subordinating process with an observable quantity such as number of trades. In contrast, the approach taken here does not depend on the specific identification of the subordinated time variable, but rather assumes a class of time models and estimates parameters from data. In addition, a simple Markov process is proposed for the characteristic parameter of the subordinating distribution to explain the significant autocorrelation of the squared returns. …
In The Search For Accounting Knowledge - Everything Old Is New Again, A. Kurtovic, K. Cooper
In The Search For Accounting Knowledge - Everything Old Is New Again, A. Kurtovic, K. Cooper
Faculty of Business - Accounting & Finance Working Papers
The following paper will attempt to substantiate claims that the accounting profession, has in over a hundred years, failed to adequately develop. Claims that the accounting profession has done little more than recycle financial accounting issues are not new, with such allegations having vocally surfaced in the past two decades. In order to achieve its aim, this paper will focus on Statement of Accounting Concepts number two [SAC 2], The Objective of General Purpose Financial Reporting. In gaining an understanding of today' s position of SAC 2 and how it has been arrived at, legislation dating over a hundred years …
Undergraduate Accounting Curriculum: The Unique Case Of Iran, H. Wijewardena, J. Roudaki
Undergraduate Accounting Curriculum: The Unique Case Of Iran, H. Wijewardena, J. Roudaki
Faculty of Business - Accounting & Finance Working Papers
After the Islamic Revolution of 1979, the entire education system in Iran was drastically changed to make it more relevant to the Islamic principles. Accordingly, a single undergraduate accounting curriculum designed by the government was imposed on all universities in Iran in 1982. Since then, undergraduate accounting programmes of all universities have been conducted on the basis of this common curriculum. However, there has been criticism that several features of this curriculum are not appropriate in terms ofeducational objectives and economic conditions of the country. This study examined the nature and content of the above curriculum with the purpose of …
Can Negative Expected Value Gambling Be Rational? An Analysis Of A Doubling Scheme For Roulette, D. Edelman
Can Negative Expected Value Gambling Be Rational? An Analysis Of A Doubling Scheme For Roulette, D. Edelman
Faculty of Business - Accounting & Finance Working Papers
It is well-known (e.g., Wald (1947)) that complicated betting strategies and stopping times cannot turn unfavourable games into favourable ones. While economists tend to attribute individuals' willingness to play such games to irrationality (as might be modeled by increasing marginal utility, for example) the present paper presents an example which suggests an alternative model, one which suggests that negative expected-value (EV) gamblers may in some instances be behaving rationally after all.
The Potential For Corporate Immunisation Of Commercial Projects, M. Mccrae
The Potential For Corporate Immunisation Of Commercial Projects, M. Mccrae
Faculty of Business - Accounting & Finance Working Papers
Firms are continually investing resources in risky projects which involve uncertain outcomes. The need for firms to protect the net asset backing of their project portfolios and to immunise against unacceptable cash flow streams is evident in a number of contemporary practices such as factoring, sub-leasing and joint ventures. But the ad hoc farming out of projects does not provide a means of systemically deriving optimal strategies which provide adequate protection at minimum cost. The options based hedging model used here illustrates why firms use factoring, joint-ventures and similar strategies as a form of risk sharing and shows how optimal …