Search results

The purpose of this paper is to examine the effectiveness of voluntary governance mechanisms in Australia.

This study identifies similar choices of corporate governance by Australian firms and tests the effectiveness of the choices made based on the earnings quality of reported firms. Cluster analysis is conducted using governance best practice variables, firm size and an earnings quality variable.

This paper’s results support the voluntary governance approach for smaller firms, but suggest that mandatory governance requirements could be beneficial for larger firms. Evidence suggests that a benefit accrues for larger firms with the adoption of governance best practice. Cluster analysis indicates that larger firms tend to exhibit higher levels of adoption of governance best practice than smaller firms.

This paper adds to the literature by providing important information regarding the suitability of adoption of voluntary governance mechanisms in Australia.

This study aims to provide insights into US and Australian analysts' views regarding the relative importance of disclosing the direct method (DM) or indirect method (IM) statement of cash flows and forecasting firm performance.

Evidence is collected from responses to 104 surveys and 52 interviews completed by US and Australian analysts from 2017 to 2022. The survey and interview questions are developed with reference to the literature.

US and Australian analysts believe that the DM format provides incremental benefits compared to the IM for (1) confirming the reliability of earnings; (2) improving earnings confidence; (3) more accurate ex ante forecasts of operating cash flow and earnings; and (4) identifying opportunistic accruals manipulation. Analysts view that DM disclosure can lower firm-level cost of equity, although US interviewees more uniformly expect lower costs of equity under DM disclosure when firms yield low earnings quality. DM disclosure is also more important during unstable economic periods, as proxied by COVID-19.

Limited research currently exists regarding disclosure of the DM or IM and its impact on analysts' forecasting accuracy, earnings quality, economic uncertainty and cost of equity. Previous research has relied on archival research to examine differences between the DM and IM methods and are limited by data availability. Our findings are particularly relevant to the US market with few US firms reporting the DM format.

The purpose of this study is to examine if partner cross-contagion in audit offices is associated with client reporting quality. To this end, the authors test if the presence in an audit office of a partner with a highly aggressive style is associated with the reporting quality of other partners’ clients. Partners with a highly aggressive style are identified by their tendency to approve favorable client reporting. The authors add to the existing literature that provides limited and equivocal evidence on audit office cross-contagion.

Partner style is determined in an estimation period from 2010 to 2014. Aggressive style is identified when partners tend to approve favorable client reporting, which is shown by a positive value for their clients’ median discretionary accruals. Partners are considered to exhibit a highly aggressive style if they have positive median client discretionary accruals within the 90th percentile. Cross-contagion analysis is then conducted in a test period from 2015 to 2019 by determining if the presence in an office of a partner with a highly aggressive style is associated with the reporting quality of other partners’ clients. Two measures of client reporting quality used. These are the accuracy of current-period accruals in predicting period-ahead cash flows and earnings management related to benchmark beating.

This study finds partner cross-contagion of highly aggressive style in Big 4 offices that is associated with lower client reporting quality for non-Metals and Mining industry clients. This cross-contagion only occurs when the contagious partner has a very high level of aggressive style. This study finds Big 4 partners are susceptible to aggressive style cross-contagion regardless of their own idiosyncratic style. The results of this study show more cross-contagion in small Big 4 offices and mitigation of cross-contagion for economically important clients. Cross-contagion in non-Big 4 offices is observed for Metals and Mining industry clients.

By determining style from partners’ past clients’ discretionary accruals, this study extends prior cross-contagion research that relies on restatements to identify style. This study examines several other cross-contagion issues not addressed in prior studies. These include differences in cross-contagion for Big 4 and non-Big 4 offices and for large and small Big 4 offices, partners’ susceptibility to cross-contagion and the influence of client importance.

The purpose of this study is to examine the association between non-audit service fees provided by the auditor and auditor independence in stable and unstable economic conditions. Further, this study investigates whether client importance impairs auditor independence in two different Australian economic environments.

This study focuses on financially distressed firms listed on the Australian Stock Exchange from 2005 to 2014. The data is obtained from SIRCA and the Morning Star databases. The probit method is used as a baseline regression model, the two-stage least squares and the sensitivity of control variable tests are used to control for any endogeneity and self-selection bias concerns.

This study shows that in stable economic conditions, non-audit service fees provided by auditors impair auditor independence. This suggests that economic bonding between auditor and client serves as a threat to the auditor’s independence, perhaps because of the importance given to the larger clients. In contrast, the authors find no association between non-audit service fees and auditor independence in unstable (highly regulated) economic conditions largely because of higher litigation risk. The results of this study are robust to alternative model specifications and endogeneity concerns.

This study provides an important implication to regulators that macro-economic conditions influence the strength of incentives related to non-audit services for auditors. Furthermore, this study enhances the understanding of regulators (Australian Security Investment Commission) and the strategies adopted by Australian auditors in response to economic incentives and market-based incentives.

The authors contribute to the existing literature by providing evidence that there is a tradeoff between market-based incentives (i.e. lower litigation costs) and economic incentives (i.e. non-audit services fees) with economic uncertainty influencing the importance of these incentives to auditors.

Outlines the work undertaken to repair and upgrade ′The Milliners′, a 16th century structure and Grade II listed building. Discusses the initial thorough investigation of the house, and the methods by which the owner′s brief to retain the character of the house while allowing for a high standard of modern services, was carried out. Details the problems of inserting services into the structure without cutting into the floor and the installation of central heating radiators into the outside wall of one of the bedrooms. Explores the work of the building contractor, electrical services contractor and mechanical services contractor, supervised by a clerk of works. Suggests that the work would have been more efficiently carried out by a single consultant.

The purpose of this study is the application of a recently developed quantitative method named Referenced Publication Year Spectroscopy (RPYS) in the spectrum of Collection Development. RPYS portrays peak years to be recognized in citations in a research field that guarantees to assist in the identification of significant contributions and groundbreaking revelations in a research field.

Preliminary data of the study has been extracted from Web of Science (WoS) by using two phrases “collection development” and “collection building” to search in terms of the topic (comprising four parts: title, abstract, author keywords and KeyWords Plus). The search was restricted to the time period 1974-2017, which formulated a data set of 1,682 documents covering 29,017 cited references. The program CRExplorer (www.crexplorer.net) was used for the extraction of cited references from the data sets downloaded from WoS. Further analysis was performed manually using MS-Excel 2016.

The present study identified seminal works, which contributed to a high extent to the evolution and development of collection development. The analysis of all cited references using the RPYS method showed nine peaks, which present historical roots of collection development and revealed that the basic idea of this very subfield of library science dates centuries back. Moreover, the results of the investigation on most effective documents (in the form of peaks) revealed that the field of collection development significantly influenced by the works of authors such as Gabriel Naudé, Gabriel Peignot, Giulio Petzholdt, P L Gross, E M Gross, Richard Trueswell, Allen Kent, Ross Atkinson, etc.

The analysis of works cited in publications helps to ascertain important intellectual contributions related to a particular domain of knowledge. It not only helps in extracting the most important works but also it helps to reconstruct the history of a specific research field by examining the specific role of the cited references. Therefore, the results of the study could be useful for researchers, practitioners, scholars and more specifically bibliophiles, bibliographers and librarians to gain a better understanding of seminal works in the spectrum of collection development.

To the best of authors’ knowledge, the present research work is unique and novel in the spectrum of collection development, which explored and examined the pivotal works in the field by using the RPYS method.

As American firms formulate competitive strategies for the 1990s and beyond they are realising that significant profit opportunities exist outside the United States. As managers deal with globalising their logistics systems to support overseas marketing efforts transportation becomes an extremely important factor. The readiness of the US transportation system to support the growing global logistics needs of American business is examined. The authors conclude that with few exceptions the US international freight transport industry cannot meet the challenges presented by the rapid globalisation of the marketplace.

The editorial for this issue sets out the context of increasing awareness of the need for better services for children and adults with autism spectrum disorders, and highlights the importance of policy to maintain awareness and provide incentives while recognising that more would be needed to ensure that people with autism have a good quality of life and reach their full potential. There are two sections to this paper. The first is a case study written from a parent's perspective and highlighting the need for good joint working and supporting families, as well as the importance of understanding how autism affects a child and his/her family. The second part considers good practice in supporting children and adults with autism to increase social inclusion, independence, choice and autonomy.