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1. Global Reporting Initiatives (G3), Standard Disclosures for
Human Resource Practices: Compliance and Determinants in The
Financial Services Sector: Europe, Asia and Others
Pran Krishansing Boolaky
Griffith University
Australia
ABSTRACT
This paper is the first to study whether Human Resource
Practices (HRP) disclosure in sustainability reports of
Financial Services Sector (FSS) firms comply with G3 guidelines.
The paper raises issue on compliance of practices with G3
because it is considered as a generally acceptable reporting
framework by many organisations around the world and expects
firms to provide consistent and comparable information in
sustainability reports. To measure compliance it compares HRP
disclosure with the disclosure guidelines in G3 and then
compliance between firms within a region and between regions,
namely: Europe, Asia and ‘Others’. Using content analysis the
paper measures HRP disclosure compliance with G3 standard
disclosures between companies in the financial service sector
within region and between regions and (ii) then uses
hierarchical regression analysis to investigate the determinants
of the compliance level. The paper reveals that the level of
compliance with G 3 by FSS firms is higher in Europe than in
Asia or the ‘Others’ region. The regression analysis suggests
that region, strength of reporting, ethical behaviour of firm,
labour/employer relations and capacity of the firms to innovate
are the main explanatory variables
of HRP disclosures in the FSS firms. Findings of this study
would be useful to potential employees, trade unions as well as
national regulators and international organisations such as the
International Labour Organisations (ILOs) and the OECD. This
study also infers that good corporate communication on HRP
maintains good labour/employer relationship.
2. Role of Agriculture in The Proposed Free Trade Agreement
between Australia and China: Challenges and Opportunities
Mahinda Siriwardana
School of Business, Economics and Public Policy
University of New England
Armidale, Australia
ABSTRACT
Australia’s trade, investment and economic ties with China are
very important, particularly in the current global economic
uncertainty. China has become Australia’s top trading partner,
with trade in goods and services worth $63.8 billion in 2007-08.
The Australia-China Free Trade Agreement (AUSCHI-FTA) has
already passed the 13th round of negotiation in December 2008
and there are several significant issues that are still
unresolved. The FTA initiative enjoys a high level of political
support from both governments given the large potential economic
benefits and the strategic importance of it to both countries.
However, the negotiations have stalled over the
treatment of Australian grain exports to China. While Australia
looks for a comprehensive FTA, China insists that grain should
be exempt as sensitive products from the agreement. This paper
analyses the economic effects of the proposed FTA between
Australia and China by taking the sensitivity of agricultural
trade liberalisation into consideration. A number of FTA
scenarios are formulated and the simulations are undertaken
using the Global Trade Analysis Project (GTAP)
model and its version 7 database. By simulating the GTAP
multi-country CGE model, the paper provides quantitative
evidence concerning the sensitivity of agriculture to potential
welfare and other macroeconomic aspects of the FTA. Since
Australia has comparative advantage relative to China in grain
production, a comprehensive FTA may increase Chinese grain
imports and hence the agricultural sector of both trading
partners may be affected. The findings may shed light on the
need towards multilateral liberalisation in agriculture.
3. Leader Career Success & Locus of Control Expectancy
Prof. Kurt April, PhD, University of Cape Town (South Africa) &
Ashridge (UK)
Babar Dharani, MBA, University of Cape Town (UK)
Kai Peters, MBA, Ashridge (UK)
ABSTRACT
In recognition of the fact that the world is dynamic and
changing, the research re-tests the well-established
relationship between internality and success, and its
recognition as a trait of leaders. Contrary to some published
Western academic literature, the research results conclude that
higher levels of successes are achieved by individuals with an
external locus of control expectancy. The research presents
evidence of a shift away from a world that appreciates leaders
with an ultimate self-belief of control, independence and
autonomy, to leaders that appreciate external forces, and
recognise the importance of connection and community. This move
is triggered by feelings of loneliness, guilt and tiredness of
competition when only autonomy and independence are sought.
These triggers are allowing individuals not to merely seek
physiological or safety needs, but to seek belongingness and
deep-care needs. The implication of this change in leadership
style is a move away from narcissistic leadership styles,
towards servant leadership styles.
Keywords: Locus of control; objective career success; needs;
psychological puberty
4. Good Corporate Governance and Firm Characteristics:
An Empirical Analysis
Srinivasan Ragoagothaman,Erin Cornelsen,and Paul Van Sloten
Beacom School of Business, University of South Dakota
USA
ABSTRACT
Weaknesses in “corporate governance” have been responsible for
the recent financial frauds and Ponzi schemes. The measure of
corporate governance used in this study is based on the
Corporate Responsibility Officer (CRO) magazine list of 100 Best
Corporate Citizens for 2007. The governance rankings of this
list are based on a systematic assessment of environmental
practices, corporate governance practices, diversity policies,
employee relations, human rights issues, product quality and
safety and philanthropy. In addition, total return to
shareholders over three years is also considered in developing
this ranking. We use a multivariate logistic regression
(logit) model in this study to examine the characteristics of
firms that were included in the 100 Best Corporate Citizens
list. Our results suggest that firm size, price-to-book ratios,
and beta (a risk measure) are useful in discriminating “best”
governed firms from control firms. Return on assets,auditor
opinion and intangible assets to total assets ratio are
significantly different between the two groups at the 10 percent
level.
5. Does Corporate Governance affect Earnings Quality: Evidence
from an Emerging Market
Muhammad Nurul Houqe and Tony van Zijl
Victoria University of Wellington
Wellington, New Zealand
Professor Keitha Dunstan
Bond University Gold Coast, Australia
Dr. Wares Karim
Saint Mary’s College of California
California, USA.
ABSTRACT
This study examines whether firm governance practices have an
effect on accounting earnings quality in Bangladesh. Using a
sample of 648 firm-year observations for the period of 2001 -
2006, the result suggests that corporate governance mechanisms
provide greater monitoring of financial reporting and these
mechanisms positively affect firm earnings quality. This
knowledge could be used by the capital market regulator, the
Securities and Exchange Commission (SEC), to design mechanisms
to constrain managers’ earnings management practices. This, in
turn, would contribute
towards development of an efficient stock market and thus
protect investors’ interests.
Keyword: earnings quality, discretionary accruals, corporate
governance.
JEL classification: J3; K2; M4.
6. B2B Service Interactions: Do ICT-enabled Process Innovations
Lead to Enhanced Customer Commitment?
Rafael Paguio and Shameem Ali
Victoria University
Australia
ABSTRACT
ICT provides opportunities for more convenient, more responsive
and highly customized information services to business customers
as they contact their providers regarding service issues and
contract arrangements. This study looks at how ICT-enabled
process innovations achieve customer retention goals through the
enhancement of the value proposition and subsequently the
strengthening of customer commitment.The study involved a survey
and interviews of business service customers. Findings indicated
that participants were cautious in returning a proportional
amount of increased commitment to the service provider even when
the value-adding benefits of ICT-enabled services were
acknowledged. The study found that those who admitted
willingness to higher commitment gave above average
ratings for the value-added effect of CRM services, were
reasonably satisfied with their providers, or characteristically
maintained a business-like posture to the relationship. On the
other hand, those who stated ICT-enabled services would have
minimal effect on their commitment tended to eitherhave
significant services issues with their providers, a strong
transaction orientation as a result of organizational
philosophy, or preferred a business relationship with high
personal communications
and social content.
7. Prioritizing Retailer Response to Cross-Channel Shopper
Expectations
K.H.Padmanabhan
University of Michigan-Dearborn
U.S.A.
ABSTRACT
Consumers today shop across channels in fulfilling their needs.
Retailers address their needs by developing cross-channel
offerings. Cross-channel retailing is a costly, demanding, and
time consuming endeavor. This paper offers retailers an orderly
approach to implementing crosschannel programs.
8. Augmentation of Currency Options Market Efficiency by Pricing
Market Mispriced Options
Ariful Hoque, Murdoch University, Australia
ABSTRACT
Because the currency options market efficiency is inversely
associated with the arbitrage possibility, minimization of
arbitrage opportunity is required for maximization of options
market efficiency. In the literature, two major approaches are
used to address the arbitrage issue. First, the frequency of the
arbitrage occurrence can be reduced by computing the correct
options price. But estimating unobservable foreign exchange (FX)
volatility is not an easy task, which makes it difficult to
accurately price options. Second, the arbitrage profit can be
made non-attractive by
introducing the appropriate transaction costs. Furthermore,
estimating standard transaction costs across the currency
options market is a difficult issue. This study provides a model
to price theotherwise mispriced options appropriately, which
leads to options market efficiency. The novelty of current study
is to enhance the currency options market efficiency without
estimating FX volatility or transaction costs.
Keywords:options market efficiency, put-call parity, transaction
costs, unit root, GARCH
9. Financial Meltdown on The Capital Market:A Study of The
Nigerian Stock Market Exchange
Dr. (Mrs) Yahaya, Khadijat Adenola Department of Accounting and
Finance, University of Ilorin,Nigeria
Dr. Abdulraheem, Abdulrasheed Department of Accounting and
Finance, University of Ilorin, Nigeria
Dr. Isiaka Sulu Babaita Department of Business Administration,
University of Ilorin, Ilorin, Nigeria
Aliu, Olarenwaju Atanda Department of Accounting and Finance,
University of Ilorin, Ilorin, Nigeria
Yisau, Nurudeen Salako Department of Accounting and Finance,
University of Ilorin, Ilorin, Nigeria
ABSTRACT
A major engine of economic growth and development of any nation
is its capital market. Until quite recently, the Nigerian
capital market was the toast of many enlightened Nigerians both
home and abroad. This research study investigated the impact of
financial meltdown on the capital market with particular
reference to the Nigerian Stock Exchange (NSE). In carrying out
the study, survey research design was adopted and thirty (30)
observations were drawn each from the periods before
the crash and after the menace. Using Z test statistical
analysis, two hypotheses tested with respect to NSE All Share
Index (ASI) and market capitalisation were rejected implying
that the tests were statistically significant. On the contrary,
the hypothesis tested on NSE market turnover was accepted
meaning that the observed difference in the values was
statistically insignificant. Similarly, using market model, it
was discovered that there were significant changes in individual
quoted securities and expected returns in the period under
consideration. Above all, the findings of the study revealed
that the financial meltdown impacted negatively on the
operational performance and efficiency of the Nigerian stock
market. It was recommended that the Nigeria government should
inject physical cash into the stock market as a way of bail out
in order to restore the lost confidence in the market and also
the investors and stock market operators should play the games
according to the rule.
Keywords: Nigerian stock exchange, All Share Index, Financial
meltdown, Bubbles, Crashes
10. Reconsidering Risk in The CAPM
Daniel Singer
Dept. of Finance, Towson University, Towson, MD ,USA
ABSTRACT
Recent research in finance has tended to discredit the notion
that systematic risk offers a viable approach to assessing the
riskiness of a firm in a diversified portfolio. Although most
financial analysts practicing today are taught that the use of
beta as a measure of market risk is the accepted way to evaluate
the risk of an individual stock in a diversified portfolio, the
many documented anomalies found to the CAPM have resulted in a
literature which treats beta as essentially irrelevant to
evaluating a stock’s risk. This paper argues that by shifting
the perspective of the CAPM from total return to total risk,
investors are seen to use systematic risk to construct efficient
portfolios. This focus on idiosyncratic risk is found to allow
investors to respond to the possibility of changing
macroeconomic conditions.
11. Dynamic Integration between Stock Markets in The GCC
Countries: The Role of The Economic and Monetary Union
Aktham Maghyereh and Ahmad Ismail, United Arab Emirates
University, UAE
ABSTRACT
We examine the influence of the process of economic and
financial integration in GCC region on the dynamic process of
stock market integration over the period 31 May 2002–2 October
2010. A potentially gradual evolution in correlations between
GCC stock markets is carried out by embedding the Asymmetric
Dynamic Conditional Correlation (AG-DCC) model proposed by
Cappiello et al., (2006) with fat tails, volatility clustering,
long memory and asymmetric volatility effects (skewed Student-t-FIAPARCH).
The empirical findings indicate that dynamic correlations
between the GCC stock markets have generally increased in
response to the ongoing economic convergence process,
furthermore, we find that stock market correlations increased
during the turbulent market periods.
12. Does The Choice of Stock Market Synchronicity Measure
Matter? Evidence from Developed and Emerging Countries
Sarod Khandaker, Swinburne University of Technology, Australia
ABSTRACT
This paper analyses stock synchronicity measures proposed by
Morck et al (2000), the
classical measure and the R square measure. The Study finds
evidence that stock markets of emerging economies are more
synchronous than the developed economies using both the
synchronicity measures. It is found that China, Malaysia and
Turkey exhibit the highest stock synchronicity during the
observation period. Further, cross-sectional analysis
illustrates that inflation is generally positively correlated
with stock synchronicity and government accountability and trade
openness is generally negatively correlated with stock price
co-movement, which is consistent with Morck et al (2000).
Finally Pearson correlation coefficients and Spearman rank
correlation coefficient show that the classical measure and the
R square measure are positively
correlated. The study concludes that the classical measure and
the R square measure capture similar aspects of stock market
synchronous behaviour.
13. Tax Literacy among Individual Taxpayers
Hashanah Ismail, Badriyah Minai and Salmah Muhamed
Faculty of Economics and Management
Universiti Putra Malaysia
Malaysia
ABSTARCT
This paper reports on a survey of tax literacy level of 200
individual taxpayers. Using the Eriksen and Fallen (1996) model
of knowledge index to measure the taxpayers’ tax knowledge, the
study finds that gender, use of -efiling and ethnicity are
factors significantly related to tax literacy.
Key words: tax literacy, tax compliance, ethnicity,e-filing
14. Small Business,Community Relations and Sustainability:New
Approaches to Success
Abbas Nadim, University of New Haven,USA
Robert N. Lussier, Springfield College,USA
ABSTRACT
This conceptual article extends the current literature in three
ways. First, we call for an expanded definition of small
business to include the importance of the ties with local
community. Second, we review the success vs. failure literature
and recommend a new direction of research in this field. Rather
than focus on the internal factors, we need to focus on external
factors, including the local community. We also present the case
for “getting integrated in the surrounding community” as one of
the most critical co-producers of long-term success of small
business. Third, we demonstrate through a systems perspective
that small business should make sustainability a strategic
long-term competitive advantage. Implications are discussed.
15. Building The Taiwanese Women’s Entrepreneurship Competency
as Small Business Female Entrepreneurs Competitiveness Index
Dr. Chifang Lu, Shih Chien University, Kaohsiung, Taiwan
ABSTRACT
The global development of an economy centered in knowledge,
advances sexual equality, changes the industrial structure, the
social framework, and allows a focus of information technology,
entrepreneurship that is no longer men’s privilege. Women now
have the opportunities and environment for entrepreneurship. In
the past, women’s labor tended to be regarded as the
supplementary labor in society. However, the situation has
changed, and thus, it is necessary to develop and build
Taiwanese female entrepreneurship competency as small business
competitiveness index. This study will collect the opinions of
experts and scholars from industry, government and
academia, and seeks for varied views within a group using the
Delphi Method. By interaction and a series of structural
inquiries with information or opinion feedback, the experts’
consensus will be fulfilled. With regard to the research
targets, this study will evaluate the relative importance of
different enterprise competency indices by Analytic Hierarchy
Process (AHP). The research purposes are: 1) to function as the
criteria for female entrepreneurs before launching the
enterprises with regard to competency possessed or trained, 2)
allow female entrepreneurs to develop the competency according
to the research findings and further succeed the
entrepreneurship, and 3) to build the criteria of
entrepreneurship competency for the women as the business
competitiveness index.
Keywords:female entrepreneurship, Flying Geese Program,
competitiveness, enterprise competency
16. Designing An Online Intermediate Accounting Course at A
Regional State University with A Limited Technological Budget
Gene Smith, Eastern New Mexico University, USA
ABSTRACT
The purpose of this paper is facilitate discussion within the
business faculty, specifically accounting faculty, as how to
teach an online intermediate accounting course at a regional
state university with a decreasing operating budget and a
minimal capital budget. My approach in teaching an online
intermediate accounting course to meet the various learning
styles of students and continue the students’ journey in
achieving AICPA core competencies is summarized in the paper. An
online intermediate accounting course is time consuming and a
rewarding process for both
students and instructor. My online intermediate accounting
course consists of the following sections: assessment tests,
chapter videos, current events writing assignments, discussion
boards, chapter exercises and problems, practice set, and exams.
The approach I describe is thorough and provides opportunities
for students with different learning styles to succeed and have
meaningful learning experiences. Overall, students are satisfied
with the course. Distance accounting education has arrived. Let
the discussion begin!
17. Teachers in The Implementation of International
Academia-Industry Cooperation Research Project Benefits
Chien-Chou Chen,Ling Tung University,Taiwan
ABSTRACT
The main purpose of this research was to explore the technical
college teachers in the
implementation of international academia-Industry cooperation
project of the effectiveness of international cooperation in the
implementation of the project as a reference. The self
"international academia-Industry cooperation benefits
questionnaire as measuring tools, and 45 technical colleges for
the survey of 545 teachers in the sample.The data were analyzed
using Frequency, Percentage,
Mean, Standard Deviation, Pearson Product-Moment Correlation,
Multivariate Analysis of Variance, Discriminant Analysis and
other statistical methods, the test of the factors. Three
conclusions summarized as follows: First, the technological and
vocational school teachers in the implementation of
international academia-Industry "co-effectiveness"on "personnel
training "as a priority. Second, different "personal background
(gender, occupation, education level),"teachers in the
implementation
of the international "co-benefits" have significant differences.
Third, the different "personal" background variables (gender,
occupation, age)school teachers in the implementation of
international production "co-effectiveness" tend to have
significant differences exist.
Keywords:Cooperation. Project Benefits.International
Academia-Industry. The Technical CollegeTeachers
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