Economics - Theses
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ItemManagement accounting in Australia: an investigation into the reasons for the gap between theory and practice( 1991)Even a brief glance at a cross-section of the many text-books dealing with cost and management accounting makes it evident that there is almost universal agreement among academics as to the "body of knowledge° which constitutes the area known as Cost and Management or Managerial Accounting. Furthermore, an examination of the contents of any of these major textbooks, such as Horngren and Foster (1987) and Shillinglaw (1982), through their sequence of revised editions over more than twenty years will reveal very little substantial change in their Table of Contents. In fact, this remarkable consensus of material has led Scapens(1983a), who had compared the topics covered in twenty four management accounting textbooks published in the previous six years, to coin the phrase the "Conventional Wisdom" of management accounting, at least as it is understood by academic textbook writers. (From Introduction)
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ItemEmployee participation and industrial democracy in Australian government employment: 1983-1988( 1990-05)The subject of employee participation in the public sector has been neglected in the academic literature of Australia. The present research aims to redress this deficiency. Its explicit focus is employee participation in Australian Government Employment (AGE) in the first six years of the Hawke Labor Government, that is, the period 1983-1988. The choice of this period is an important one. The election of the Hawke Government marks a turning point in Australian public administration: this was a government committed to the thoroughgoing reform of the public sector and employee participation was integrated into its reform agenda, albeit in the guise of industrial democracy. In the first part of the thesis the discussion clarifies the meaning and relationship between the concepts of employee participation and industrial democracy. This is followed by a review of the overseas literature on employee participation in public employment. In the second part, the development of employee participation in AGE is dealt with at a general level. This account spans the period 1901-1988, however, the account of the sub-period 1983-1988 is more detailed. In the third and fourth parts, the exposition becomes more specific. Detailed case studies of Australia Post and the Australian Taxation Office, which provide an account of the development of employee participation ranging from the national to the workplace level of each organization, are presented. In the final part, the discussion is drawn together and the lessons of the recent experience of employee participation in AGE are spelt out.
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ItemThe corporate treasury function: risk management and performance measurement( 1997-05)The Australian financial system has changed dramatically in recent years, creating both threats and opportunities for value adding activities. Many large corporations have set up a separate treasury division or department to handle their financing requirements. This thesis derives the rationale for a separate treasury function from theory of the firm. A framework has been developed by drawing upon both the old theory of the firm (transaction cost economics) and the new theory of the firm (agency theory) to determine the appropriate governance structure to manage financial arrangements. Formal analysis of corporate treasury functions and performance measurement research has not kept pace with the growth of treasury activities. Appropriate benchmarks provide management with information to manage financial risk and to more accurately assess treasury performance. A benchmark is required for core treasury tasks, including debt portfolio management. Optimal treasury benchmarks are difficult to determine, due to the complexity involved in measuring financial exposures for firms which derive income from physical, rather than financial assets. The inter-relationships between financial risks, including maturity, interest rate and currency risk, further compounds the problem. Decomposition of financial risk into these respective elements allows identification of the firm specific factors that influence financial exposure. Appropriate benchmarks for managing repricing, refunding and foreign exchange risk depend upon the trade-off between transaction costs, agency costs and information signalling costs. Theory suggests growth options in real assets within the firm's investment opportunity set provide opportunities for natural hedges that offset financial risk. However, empirical analysis of share price sensitivity to interest rates and an analysis of debt maturity structure indicates growth options and agency factors are less important than firm specific characteristics when setting up benchmark portfolios to manage financial risk. Treasuries are often classified as either active or passive managers, but a continuum of strategies is possible when managing financial risk, rather than points at either end of a spectrum. Tolerance levels around the benchmark constrain activity within a relevant range - the more active the treasury, the broader the range. Constraints allow the degree of activity to be fine-tuned. The decision to actively manage risk depends upon whether value can be added in risk-adjusted terms. This is a function not only of whether opportunities exist, but also whether value can be added consistently, compared with a passive approach. The majority of practising treasurers describe themselves as 'active hedgers'. Subject to caveats outlined in the thesis, field experiments conducted over a three year period indicate the ability of corporate treasurers to add value to the firm through outperforming a passive benchmark portfolio of debt is limited. Respondents to an international survey on corporate treasury control and performance standards cited difficulty in setting benchmarks, particularly risk-adjusted benchmarks, as the major reason for not measuring treasury performance. Empirical determinants of benchmark structures for repricing risk, refunding risk and currency risk have been identified. A better understanding of the factors that determine financial risk will assist management when they are designing or refining benchmarks to manage financial risk and measure treasury performance.
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ItemWork team effectiveness in high technology manufacturing( 1995)The purpose of this study is to formulate and test a causal model of work team effectiveness among work team members at a large automotive manufacturing company. The study seeks to integrate previous work team theories, but adopt a more parsimonious approach to work team effectiveness by taking into account the developmental stage or “maturity” of the work teams being studied. The study examines also the issue of level of analysis. The level of analysis is an important issue for this study because of the multiple-level phenomena that comprise the model of work team effectiveness. This issue is examined from both theoretical and empirical perspectives. Having identified the development of the work teams in the study to be at the storming and norming stages of development (Tuckman, 1965), team development theory is used to formulate hypotheses about the criteria of work team effectiveness and its determinants. The dependent variables in the causal model comprise several work team effectiveness criteria that are identified by team development theory, such as team satisfaction, acceptance of team norms, team citizenship behaviour and work team viability. A fifth measure of work team effectiveness, team performance, is drawn from the broader theoretical literature on work teams. Team factors, such as role clarity, team cohesion, interpersonal conflict and team leadership, are predicted by team development theory to be important determinants of work team effectiveness at the storming and norming stages of development. Other independent variables in the model, such as task and organisational factors, are drawn again from the broader theoretical literature on work teams. The results of the study provide general support for the model of work team effectiveness. Moreover, several developmental hypotheses are confirmed. In particular, the results support the important role of team leadership, team cohesion and interpersonal conflict, and the reduced role of external leaders in predicting work team effectiveness at the storming and norming stages of development. The theoretical, methodological and practical implications of the study are discussed.