Economics - Theses
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ItemMental health care roles and capacities of non-medical primary health and social care services: an organisational systems analysis( 2007-05)Top-down, centralised approaches to reform of mental health services implemented over the past 15 years in Australia have failed to achieve the widely shared aim of comprehensive, integrated systems of care. Investment to date has focused on the development and integration of specialist mental health services and primary medical care, and evaluation research suggests some progress. Substantial inadequacies remain however in the comprehensiveness and continuity of care received by people affected by mental health problems, particularly in relation to social and psychosocial interventions. Intersectoral collaboration that includes the diverse range of non-medical primary health and social care services is one of the most fundamental remaining challenges facing mental health system reform.
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ItemDoes size matter?: employment relations in small firms( 2000-12)In this thesis an integrated approach to analysing small In this thesis an integrated approach to analysing small firm employment relations is proposed and used to investigate the image of industrial harmony in small firms. This approach accommodates small firm heterogeneity, provides an analytical framework for ordering the effect of a range of factors (not simply size) on employment relations, and incorporates a dialectical relationship between structure and agency. In Chapters 2 and 3 some of the key theoretical and methodological gaps in small firm research, particularly their employment relations, are highlighted. At the conclusion of Chapter 2, it is suggested that an analysis of small firm employment relations must start with the totality of economic and social relations in a particular sector, and its contradictory constituents, rather than the small firm per se. Rainnie’s (1989) heuristic device, drawing upon Marxist theory of combined and uneven development, is adopted to accommodate small firm heterogeneity. After reviewing studies of small firm industrial relations and human resource management, it is argued, in Chapter 3, that by incorporating the dialectical relationship between structure and agency with a labour process analysis, an explanation for why ‘industrial harmony’ appears to typify small firm employment relations can be sought. As such the integrated approach is applied to small firms operating in the software development sector of the information industry. In Chapter 4, some characteristics of the information industry in Australia are outlined in order to provide a context and rationale for more specifically focussing (in Chapter 5) on the nature of software development work, its organisation, and the strategies used to manage employment relations. A consideration is given to issues surrounding the management of software developers, while the distinction between primary and secondary software products is used to elaborate the contradictory trends in strategies to control the software development labour process. The critical social science basis of this integrated approach is discussed in Chapter 6, while the rationale for using multiple, complementary, quantitative and qualitative research methods is also elaborated. In Chapter 7, the structures within which employment relations are managed in the information industry are outlined using the results of a survey (N = 206). Where possible the data are analysed to draw out the effects of size, ownership characteristics, product market conditions and management style on the management of employment relations. Chapters 8 and 9 contain the detailed case studies of two small software development firms. In both cases, structure and agency are addressed and therefore the firm's development, product and labour market positions, type of work performed and by whom, how employment relations are managed and the workers' response are all explored. These two firms offer a number of points for comparison and contrast and in Chapter l0 a cross case analysis is conducted. Findings from this study are compared with others and future avenues for inquiry are suggested, while implications of the approach and findings for future small firm employment relations policy and research are addressed.
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ItemForeign Direct Investment in Australia: determinants and consequences( 2005-12)Increased globalisation over the last two decades has led to strong growth of international business activity and FDI. Despite the considerable amount of research that has been undertaken to analyse the determinants and consequences of FDI, Australia represents a country with a substantial share of foreign ownership whose FDI experience has been largely overlooked in terms of a comprehensive economic analysis. Not only has Australia received a large amount of foreign investment so far, it is also competing for more FDI. Invest Australia, Australia’s national inward investment agency, is actively promoting Australia as a location for FDI, claiming that foreign investment has made a major contribution to Australia’s economic growth and living standards of all Australians. Instantly, two key issues arise. Firstly, assuming that FDI has positive effects, what causes the inflow of FDI, i.e. what are the determinants of FDI in Australia? Secondly, given the inflow of FDI, what is its actual effect on the Australian economy, i.e. what are the consequences of FDI in Australia? In order to analyse those questions, new and previously unused data on FDI inflows in Australia were explored by applying time-series and panel-data analysis. The time period ranges from 1981 to 2002, with differing coverage for the individual samples. A further contribution of the thesis is the search for new FDI data, bringing together and analysing datasets provided by the ABS and other statistical agencies (from the US, the UK, Japan and Germany). A detailed description of Australian FDI data was given to gain a better understanding of the Australian FDI experience and because no such comprehensive summary has been available. The first part of the analysis focused on the determinants of FDI. Determinants of FDI according to different theoretical models were discussed and tested using five types of datasets: aggregate quarterly data, country-specific annual data, industry-specific annual data, country- and industry-specific data (from the US, the UK, Japan and Germany and US) and US form-specific data. Australian FDI inflows were found to be driven by economic growth and market size, wages and labour supply (though the signs varied across models), trade and openness (though customs duties encouraged Japanese industry-specific FDI), interest rates, exchange rate appreciation, inflation rate (which had a unexpected positive effect) and the investing country’s overall FDI outflows. Corporate tax rates were only significant in the quarterly FDI model, but they had an unpredicted positive sign. Australian FDI was driven by longer term considerations and its determinants could not be fully explained by any single theory, but a variety of theoretical models. Furthermore investment decisions depend on factors such as investment origin, the industry in which the investment takes place and the form of the investment, making aggregation difficult. The second part of the analysis focused on consequences of FDI. Consequences of FDI according to different theoretical models were discussed and tested using two types of datasets: aggregate quarterly data and industry-specific annual data. FDI inflows had positive effects on economic growth and domestic investment, supporting the Australian government’s view that FDI is a favourable source of capital. However, the claim that FDI is favourable for Australia’s balance of payments position could not be supported by this analysis. FDI led to a reduction in export growth and no direct effect on import growth, though the effect of FDI on GDP growth led to increased import growth. Furthermore, industry-specific FDI in Australia had significant effects on employment growth (negative) and labour productivity growth (positive), while FDI growth had significant effects on real wage growth (negative) and industry concentration (positive). However, effects may differ depending on the FDI form, and Australia should focus more on attracting beneficial FDI (such as export-oriented or import-substituting FDI) rather than FDI in general.
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ItemManagement practices that enhance innovation intensity and performance in biotechnology firms( 2006)Globalization and the exponential growth of information on genetics and DNA have led to major changes in the management practices and strategies in biotechnology organizations and in governments throughout the world. These changes include: • The growing recognition by organizations of the strategic importance of innovation management as "the engine of growth" and the key to long-term sustainability; • Increasing awareness by biotechnology organizations of the need to form strategic alliances in order to capitalise on market opportunities such as treatment of AIDS, Hepatitis C, and the growth of aged-related illnesses in industrialised countries; • The need to attract venture capital and large scale investment to fund the complex and lengthy clinical trial phases associated with the development of new drugs and treatments; and • The recognition by organisations of the growing importance of managing knowledge and intellectual capital as valuable strategic assets in a global marketplace which is highly competitive for skilled and experienced knowledge workers. Although there are many biotechnology organizations where the above management strategies have been successfully implemented, there is still considerable misunderstanding of the innovation process. There is also a widespread failure by the private and public sectors to recognize that the innovation process needs to be managed ‘from idea to market’. Some managers apply traditional short-term strategies to address the long-term challenges posed by the development of new drugs and treatments in the biotechnology industry. This is commonly referred to as "short-termism". The problem of short-termism becomes compounded because biotechnology is an emergent and disruptive technology undergoing rapid change and convergence with other technologies such as information technology. Anecdotal evidence and the limited number of empirical studies on management practices in the biotechnology industry suggest a lack of awareness and perception of innovation management and the requirements for developing innovation intensity as a prerequisite to effective innovation performance at the organizational level. The purpose of this research is to identify those management practices and strategies which enhance the innovation intensity and performance in biotechnology organizations. This was achieved by investigating the relationships between management practices and strategies with innovation intensity and performance. A model was developed as part of this research using a framework of constructs based on extensive research of the literature. This model was tested to identify the constructs and variables (comprising those constructs) which had a significant and positive relationship with innovation intensity and performance in biotechnology firms. Therefore, the model used in this research has been developed based on well grounded analytical techniques, established theory and multiple methodologies. Hypotheses were developed to test the relationships between the independent variable constructs, specific independent variables within the constructs, and the dependent variable construct (innovation intensity). The relationships were tested using a database consisting of 102 completed responses from Australia and 68 responses from Europe. Survey responses which were only partially completed were deleted from the database. The responses from Australia were mainly from Victoria and Queensland with a small number of responses from other States. The European responses were from 3 leading biotechnology countries in Europe namely Austria, Belgium and the Netherlands. Biotechnology firms and biotechnology associations in other European countries were invited to participate in the survey but did not respond. The hypotheses were further explained by utilising six case study firms. These companies were recognized by their peer groups and biotechnology industry associations as "success stories" because of their reputation for implementing management practices and strategies as a strategic part of their innovation performance programs. A major finding was that the constructs of the model provided a valid and reliable model for measuring and predicting the relationship between management strategies and practices and innovation intensity. For example, dimensions such as management support, project management and commercial orientation had a significant and positive effect on innovation intensity. The second major finding was that Organisational Climate had a positive but insignificant effect on innovation intensity. However, removal of the organisational climate construct from the model weakened its predictive power in relation to innovation intensity. This finding, from the quantitative analysis, was qualified by the case study research thus highlighting the benefit of using multiple methodologies. The most significant finding, and contribution to the theory, was the identification of management practices which had a positive and significant effect on the variables comprising innovation intensity. This finding was also qualified by case study research. The study concluded that a long-term strategic approach to new product development (radical innovation) is critical to innovation performance in biotechnology firms. Continuous improvement (incremental innovation) is also important for companies to improve their existing products and organisational capacity to meet customer needs. The constructs of the model such as Management Support, Organisational Climate, Project Management, Commercial Orientation and Innovation Intensity complement each other as part of a broader strategic approach to innovation management and performance. The limitations of the study and the implications of the research findings for managers and policy makers are reviewed along with directions for future research into innovation management in biotechnology firms.
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ItemEfficiency and productivity analysis of the Australian banking sector under deregulation( 2007)This thesis examines the efficiency and productivity performance of Australian banking sector during the post-deregulation period of 1983 to 2001. Three major issues are explored using a number of quantitative methods. In particular, the window analysis technique is adopted in order to relieve the small sample problem that has proved problematic in previous studies of this industry. The first issue is to quantify the effects of financial deregulation on the efficiency and productivity of commercial banks operating in Australia. Using data envelopment analysis and Malmquist productivity index, bank efficiency performance is measured in Chapter 5. The DEA results show that all the sampled banks appeared to be performing reasonably well. The major banks and the existing regional banks were found to be the least and the second least efficient groups, respectively. Foreign banks and newly licensed regional banks showed superior performance. The major source of inefficiency was scale inefficiency arising from operating at above optimal size. The Malmquist indices show that the industry was experiencing small productivity loss over the sample period, resulting from an increase in pure technical efficiency, a fall in scale efficiency, combined with technical progress. The year-to-year change in efficiency and productivity has shown that banks were under intensive pressure to catch up with their moving industry frontier. The second issue is to provide useful information for bank managers to improve bank performance by identifying the major factors that may affect bank efficiencies. Second-stage regression results in Chapter 5 show a negative relationship between market power and efficiency change in the industry. Productivity improvements were generally higher for banks that were relatively inefficient in the preceding year, smaller in size and less market-share driven. After controlling for many other factors, banks of different ownerships were found to experience the same level of productivity change during the deregulated period. The third issue is to examine the efficiency implications of bank mergers with particular reference to the four pillars policy preventing mergers among the four major banks. Results in Chapter 7 show that post-merger technical efficiency was determined by the merging entities' average efficiencies prior to merger, as well as a number of other pre- and post-merger characteristics of banks, such as size and profitability. Newly established banks were found to have an advantage over existing banks in terms of program efficiency; however, new entrants have lost much of their efficiency advantage since the Wallis Inquiry was conducted. The empirical findings suggest that financial deregulation in Australia has produced some mixed outcomes. On the positive side, by allowing new entrants to enter into the market, deregulation has stimulated competition and encouraged efficiency improvement and technological innovation in the industry. Bank mergers can be socially beneficial if the market is competitive and contestable. When a satisfactory degree of competition exists in the market, mergers among the four major banks should be permitted. The policy implication is that the role of the government should be to focus on promoting deregulation and competition in the banking industry and in the economy.
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ItemRisk and decision making by Australian managers( 2004)This thesis uses risk in its dictionary meaning as the probability of an undesirable outcome, and has two research questions: when managers make decisions, what leads them to choose a risky alternative? and: what determines whether the decision proves correct? Material developed to answer these questions is used to construct a model of decision making that explains real-world evidence of managers' risk-taking and its results. There is an extensive literature on risk and decision making because the topic has been of interest in many disciplines since at least the 18th century. Thus insights on the research questions are available from studies of animals, humans and organisations; by scholars in biology, psychology, finance and management. Even so, there is a large gap as most studies are conducted away from corporate settings and use subjects with limited decision experience. The few studies set in real-world conditions tend to concentrate on a single aspect of decision makers' attributes, setting and behaviour, and on either decision choices or outcomes. The empirical work in this thesis is designed to fill part of this gap. The specific purpose of this thesis is to integrate decision features to provide a seamless link between decision maker, environment and outcomes in relation to non-diversifiable risks associated with the decisions of individual managers. Conclusions are drawn from representative real-world data obtained from intensive studies in the form of two surveys of experienced managers. A model is developed from the literature which indicates that the main determinants of individuals' risk-taking are personality, decision making style and expectations in regard to the outcome. This theoretical model is then quantified using a case study of a hypothetical business decision which records decision maker attributes and examines why they take a risky alternative or not. A second survey compiles an extensive database on the attributes of executives and their organisations, and uses this material to explain financial results and crisis frequencies in terms of decision maker attributes, industry and organisation characteristics, and organisational environment and risk practices. The materials address the organisation-level topics of the causes and consequences of risk-taking by managers, and point to strategies for organisations to dial up the right level of risk. Conclusions from the research are presented as an extended explanation of the causes and consequences of risk-taking; a new model of decision making called Risk Budget Theory; and a practitioner oriented guide to developing risk-based strategy. This last provides an academic basis to corporate risk management for application by practitioners. This extends the scope of risk management which - in Australia, at least - has largely addressed workplace hazards or provided defences for Boards against potential litigation. Apart from the thesis' contribution to management theory, the holistic description of managers' real-world decision making has applicability to practising managers, and the explanation of corporate results will interest investors.
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ItemThe internationalisation of Australian firms: how networks help bridge the psychic distance between a firm and a market( 2008)This research explores the internationalisation of Australian firms in Latin America. Latin America attracts seven per cent of worldwide inward foreign direct investment (FDI) stocks but accounts for less than one per cent of Australian FDI stocks abroad. This discrepancy led me to ask why and how some Australian firms have entered the region when most of those that have gone abroad went elsewhere. Drawing on constructs from the Uppsala model and the network perspective of internationalisation I created an integrated research framework that encompassed both the internal and the external drivers of internationalisation. I used a multiple case study research design based on in-depth interviews with ten firms to explore the mechanisms by which Australian firms overcome their perceived psychic distance to Latin America. I conducted interviews with key decision makers at both headquarters and subsidiaries in Australia, Brazil, Chile and Mexico. My findings demonstrate that firms simultaneously draw on internal and external resources to facilitate their internationalisation. By leveraging their networks firms are able to succeed in psychically distant markets despite an initial lack of experiential knowledge. My findings reveal that firms obtain market-specific knowledge vital for internationalisation via their networks. Internationalisation knowledge on the other hand is mainly acquired through first-hand, in-country experience. In this research I systematically document the types of institutional, business and social networks that impact internationalisation and categorise the numerous roles they fulfil. In addition to providing market-specific knowledge, network connections ‘unlock doors’, provide reassurance and comfort, provide credibility and help find employees, agents and local partners. Using networks to facilitate internationalisation accelerates the process in comparison to the traditional ‘trial and error’ method associated with in-country experiential learning. The integrated framework I develop provides a more holistic understanding of how firms internationalise than previous models. My research has implications beyond the Australia-Latin America context as an example of the increasing phenomenon of FDI from and to non-traditional markets.