A review of Deeds of Company Arrangement

Deeds of company arrangement ('DOCAs') under Part 5.3A of the Corporations Act appear be something of a limited success. However, the use and outcomes of DOCAs raise legitimate questions as to whether the level of returns currently being achieved for creditors might be improved by legislative reform. The 2013 ARITA Terry Taylor Scholarship project entailed a review of a random sample of executed DOCAs effectuated between 1 August 2012 and 31 July 2013. This review was undertaken with the intention of producing a ‘snapshot’ of current trends and outcomes of the use of DOCAs in practice – ie, average (or typical) rates of dividends paid, what DOCAs customarily achieve, the profile of the companies executing DOCAs and the average duration of DOCAs. The purpose of this review was to empirically assess the use and effectiveness of DOCAs in order to inform the ongoing debate about the success or otherwise of Australia’s Part 5.3A voluntary administration regime (which recently marked its 20 year anniversary).

A sample review of Deeds of Company Arrangement under Part 5.3A of the Corporations Act

An empirical review of the operation of Part 5.3A of the Corporations Act 2001 (Cth) is timely given that Australia’s corporate rescue regime marked its 20 year anniversary in 2013. The research project culminating in this report was funded by the 2013 ARITA Terry Taylor Scholarship and entailed a review of a random sample of 72 executed DOCAs (and associated reports and returns) which were effectuated between 1 August 2012 and 31 July 2013. This sample review of DOCAs was undertaken with the intention of producing a ‘snapshot’ of current practices and trends pertaining to DOCAs – ie, average (or typical) rate of dividends paid, the outcomes or goals which DOCAs customarily achieve (eg, genuine company rescues, workouts, enhanced asset realisations or ‘quasi-liquidations’), the profile of the companies executing DOCAs and the average term/duration of DOCAs. The purpose and value of this sample review was to empirically assess the use and effectiveness of one important aspect of Part 5.3A and to further inform consideration and debate as to whether changes are warranted to Australia’s voluntary administration regime.

Developing within-company information and communication technologies (ICT) innovation diffusion networks : a study of three Australian major contractors

The innovation diffusion and knowledge management literature strongly supports the importance of communities of practice (COP) for enabling knowledge about how to use and adopt innovation initiatives. One of the most powerful tools for innovation diffusion is word-of-mouth wisdom from committed individuals who mentor and support each other. Close proximity for face-to-face interaction is highly effective, however, many organisations are geographically dispersed with projects being virtual linked sub-organisations using ICT to communicate. ICT has also introduced a useful facilitating technology for developing knowledge networks. This paper presents findings from a research program concentrating on ICT innovation diffusion in the Australian construction industry. One way in which ICT diffusion is taking place was found to be through within-company communities of practice. We undertook in-depth unstructured interviews with three of the major 10 to 15 contractors in Australia to discuss their ICT diffusion strategies. We discovered that in all three cases,within company networked communities of practice was a central strategy. Further, effective diffusion of ICT groupware tools can be critical in developing COP where they are geographically dispersed.

A study of Australian company responses to email complaints

As businesses and organisations move online, many question how to use Internet communication tools effectively, such as Web sites and electronic mail (Porter, 2001). Where and how should they invest their time and money in technology? This research explores a small part of this broad question, online complaining and electronic customer service. This paper extends prior US-based research of consumer complaints by email (Strauss and Hill, 2001) in several ways. First, it replicates their research in an Australian setting. Second, this research addresses several future research issues that Strauss and Hill (2001) raised. And third, this paper uses diffusion of innovation (Rogers, 1995) to explain some of the results. The results partially support the findings of Strauss and Hill (2001), take a small step towards further investigation of effective email responses and provide practical suggestions for better email customer service.

Optimal allocation and sizing of capacitors to minimize the transmission line loss and to improve the voltage profile

To allocate and size capacitors in a distribution system, an optimization algorithm, called Discrete Particle Swarm Optimization (DPSO), is employed in this paper. The objective is to minimize the transmission line loss cost plus capacitors cost. During the optimization procedure, the bus voltage, the feeder current and the reactive power flowing back to the source side should be maintained within standard levels. To validate the proposed method, the semi-urban distribution system that is connected to bus 2 of the Roy Billinton Test System (RBTS) is used. This 37-bus distribution system has 22 loads being located in the secondary side of a distribution substation (33/11 kV). Reducing the transmission line loss in a standard system, in which the transmission line loss consists of only about 6.6 percent of total power, the capabilities of the proposed technique are seen to be validated.

Developing a multi-dimensional scale for ethical decision making: the managerial ethical profile (MEP)

This article describes the development and validation of a multi-dimensional scale for measuring managers’ perceptions of the range of factors that routinely guide their decision-making processes. An instrument for identifying managerial ethical profiles (MEP) is developed by measuring the perceived role of different ethical principles in the decision-making of managers. Evidence as to the validity of the multidimensionality of the ethical scale is provided, based on the comparative assessment of different models for managerial ethical decision-making. Confirmatory Factor Analysis (CFA) supported a eight-factor model including two factors for each of the main four schools of moral philosophy. Future research needs and the value of this measure to business ethics are discussed.

Frameworks in regulating company directors : rethinking the philosophical foundations to enhance accountability

Sets out a system of corporate governance regulation, aimed at combining legal and social methods of governing director behaviour and at creating a framework flexible enough to accommodate different business and ethical cultures. Outlines the theoretical basis of corporate governance and the broad responsibilities of directors, and discusses the extent to which they can and should be regulated. Discusses the constitution of a regulatory framework encompassing law, soft law and best practice, and ethics.

Internships in marketing: Goals, structures and assessment - student, company and academic perspectives

Work-integrated learning in the form of internships is increasingly important for universities as they seek to compete for students, and seek links with industries. Yet, there is surprisingly little empirical research on the details of internships: (1) What they should accomplish? How they should be structure? (3) How students performance should be assess? There is also surprisingly little conceptual analysis of these key issues, either for business internships in general. or for marketing internships in particular. Furthermore, the "answers" on these issues may differ depending upon the perspective if the three stakeholders: students, business managers and university academics. There is not study in the marketing literature which surveys all three groups on these important aspects of internships. To fill these gaps, this paper discusses and analyses internships goals, internship structure, and internship assessment or undergraduate marketing internships, and then reports on a survey of the views of all three stakeholder groups on these issues. There are a considerable variety of approaches for internships, but generally there is consensus among the stake holder groups, with some notable differences. Managerial implication include recognition of the importance of having and academic aspects in internships; mutual understanding concerning needs and constraints; and the requirement that companies, students, and academics take a long-term view of internship programs to achieve mutually beneficial outcomes.