Knowledge creation in export trading

In this research, we investigate how knowledge in the export trading industry is created. Prior research focuses on general businesses in local market environment. This research specifically focuses on export trading with overseas market needs. These needs require attention to different types of control and requirements beyond that of a local market. In this paper, Nonaka et al.'s theory of organizational knowledge creation is explored. We specifically examine the processes of knowledge creation through four modes of knowledge conversion. Empirical investigations in export trading organizations are conducted. We examine how export firms obtain new knowledge for innovations based on collective knowledge being used in export trading. The findings indicate that the knowledge management processes in export firms allow for the creation of new knowledge. The collective knowledge (from groups and individuals) forms a basis for innovations and competitive intelligence. This collective knowledge also creates foresight, insight and hindsight in the export trading context.

Voices of experience : developing export capability through eCommerce in Australian SMEs

This paper reports an exploratory study of 19 Australian SMEs which had successfully used eCommerce develop to or enhance their export capability. The purpose of the study was to identify both successful adoption processes and impediments to using eCommerce for export. Few companies had  adopted a strategic and planned approach to managing this adoption. The lack of easily accessed and trustworthy information and advice was partly responsible. The study identified a number of other obstacles to  eCommerce export development, including infrastructure and technical deficiencies, lack of awareness and expertise, problems with banking and finance and problems with physical links into export destinations. The developments that would most enable Australian companies to use eCommerce for export are identified as: improvements in the infrastructure on which eCommerce depends; the provision of consolidated, impartial information and advice about the use of eCommerce for export; and training and skills development to facilitate the implementation of eCommerce for export.

"Sexually transmitted debts":the scope of defences to directors' liability for insolvent trading

The recent demise of prominent Australian corporations, such as GIO Australia Holdings Ltd, One.Tel Ltd, HIH Insurance Ltd and Ansett Australia Ltd, have highlighted the relevance of, inter alia, the Australian insolvent trading provisions embodied in the Corporations Act 2001 (Cth) (formerly Corporations Law). What may not be appreciated, however, is that insolvent trading is not only concerned with large public companies. Many of the insolvent trading cases that come before the courts involve small proprietary companies. Moreover, in many cases these are small “family” companies where there may only be one active director. This gives rise to a difficult issue as to the appropriateness of imposing liability for insolvent trading on a spouse who is, factually, merely a dormant director. This article explores the issue of spousal liability for insolvent trading, particularly focusing on the scope of the current defences to insolvent
trading under s 588H.

An integrated information strategy for ecommerce for export : enhancing networking in an international business context

Companies using electronic commerce to facilitate their export activities (EC4X) need information and support at all stages of their export development and eCommerce adoption. This need is especially pressing for small and medium enterprises (SMEs). This paper reports the findings of a study of EC4X information and support needs among a sample of Australian companies. Evidence from SMEs, business associations and the Victorian state government suggests that governments need to develop a strategy for cost-effective on-line EC4X material that incorporates both generic and specific information. On-line provision of information is an effective way to meet the needs of SMEs and is increasingly the preferred channel for government bodies seeking to promote EC4X capability. However, personal contacts and networks are still an essential part of international business. Thus, an effective government strategy will support the business networking and personal contacts so important to help SMEs develop both eCommerce and export activities.

Ecommerce strategy in a multi-sector trading environment - quandaries for SMEs

For nearly a decade the potential benefits of Business-to-Business electronic commerce for business efficiency and competitiveness have been vigorously promoted by business, industry groups and governments. The belief underpinning policy is that from a small initial step, eCommerce will become a central part of their business strategies. This paper considers the use of B-2-B electronic transactions by SME suppliers who trade with buyer companies across diverse industry sectors in Australia. We investigate the links between their business strategies and their views of electronic trading. A survey of 240 crosssector suppliers nationwide found little evidence that electronic trading was integrated with their overall business strategy. We suggest an approach to the understanding of cross-sector electronic trading strategies that emphasises the complex, inter-connected but fragmented trading milieu rather than describing the balance between drivers and barriers that operate for the individual firm.

Merger announcements and insider trading activity in India: an empirical investigation

Insider trading activity is investigated prior to merger announcement in Indian capital market. An attempt is made to check it out whether trading takes place on the basis of asymmetric and private information. For examining the behaviour of stock prices a modified market model is used to estimate the parameters for the estimation window. These estimates are used to compute average return and cumulative average returns for the event window, which are measures of abnormal returns. Besides price run-ups, it is also common to see unusually high levels of share trading volume before public announcement of merger. Daily trading volume pattern of the target companies is also investigated. The analysis carried out in this study is based on a sample of 42 companies for which merger announcement date was announced during the period of 1996-1999. Based on the analysis for each company individually, we recommend investigation in six companies for existence of possible insider trading.

Market capitalization of Australian stock exchange (ASX) listed biotechnology companies

Comments on the market capitalization of Australian Stock Exchange listed biotechnology companies. Background on the Australian biotechnology stock market; Factors which determine the levels of risks; Points to consider when valuing Australian biotechnology companies.

Information leakage and informed trading around unscheduled earnings announcements

While there has been much judicial discussion regarding the competency of Australia's continuous disclosure regime with reference to contemporaneous international standards, there has to date been limited empirical analysis of the Australian system's effectiveness in preventing selective disclosure and information leakage. This paper presents an empirical study of information content and trading behaviour around unscheduled earnings announcements - comprising of profit upgrades, profit warnings and neutral trading statements - made by ASX-listed companies during 2004. The contention is that informed trading impacts on the stock returns and trading volumes of listed entities, and hence abnormal returns or trading volumes observed prior to an announcement provide evidence of information leakage. The paper models a range of factors that potentially influence firm disclosure practices and contribute to the level information asymmetry in the market during the pre- announcement period. Previous research has investigated the influence of firm size and information content in contributing to information leakage. This study further considers the variables of firm growth, capital structure and industry group.

A principal components analysis of New Zealand Board compostion : factors that influence an export strategy

Principal Topic Internationalisation strategies are important for company expansion because New Zealand, with its four million people, has such a small market. There may or may not exist ”agency costs” in the use of Outside Directors. Ownership patterns may also influence Internationalisation.

Methodology/Key Propositions This study uses Principal Component Analysis both in a grounded theory approach and in a confirmatory approach.

Results and Implications We find evidence that in New Zealand, contrary to some previous research elsewhere, outside Directors actually have less influence on Internationalisation than Inside Directors. Private ownership also seems to have a greater association with Internationalisation than other ownership types. A highly reliable sample of 1989 New Zealand company directors showed that such factors as gender, age and location and even industry sector were irrelevant. Two factors were important in explaining whether a company goes off-shore. These are the size and magnitude of the company as well as the ownership type and role of the CEO. In essence, this study validates New Zealand’s present strategy of ”picking winners”, that is, selecting firms based upon factor components. This study adds strength to that strategy because it identifies the concrete components that should be taken into account when picking companies for special treatment, e.g. export promotion.

Export quality : representing Fijian bodies and the economy of war

Fijian bodies have become a valuable commodity in the economy of war. Remittances from workers overseas are Fiji’s largest income – exceeding that of tourism and sugar export. This essay examines historical and contemporary representations of the black male body that perpetuate the exploitation of Fijians by inscribing the Fijian male body as warrior, criminal and protector. Taking a multidisciplinary approach informed by sociology, cultural theory, Pacific studies, visual culture, feminist and post-colonial theory, my practice is the vehicle through which I address issues of neocolonial commodification of Fijian bodies. Through an analysis of my own staged photographs and vernacular images taken by Fijians working for private security military companies and British and US armies, I hope to challenge audiences to consider their own perceptions of Fijian agency and subjectivity. By theorising the politicisation of the black body and interrogating colonial representations of blackness, I argue that we can begin to create links between the historical and contemporary exploitation of Fijians and that at the essence of both is an underlying racial hierarchy and economic requirement for cheap and, arguably, expendable labour.

The law of insider trading in Australia

This book provides a detailed and practical analysis of Australian insider trading laws. The work: examines all fundamental concepts relating to insider trading such as 'who is an insider', 'what is inside information' and 'when is information generally available', together with commentaries on proposed changes to the laws and an examination of the impact of the most recent decisions, including Hannes, and Rivkin; provides a very detailed examination of the defences and exceptions, with particular attention to the operation of Chinese Walls; analyses fully and systematically the provisions on insider trading in the Corporations Act and the Criminal Code (Cth) within the context of decided cases and relevant secondary materials; covers comprehensively the penalties and remedies for contravention of the insider trading regime (including the intricate civil compensation provisions, and an up-to-date analysis of the civil penalties regime in light of ASIC v Petsas); and discusses the operation and effectiveness of continuous disclosure as a means of preventing insider trading.

Organizational factors in the diffusion of an industry standard: implementing an online documentation system for Australian exporters

At present, governments in many countries are actively engaged in the development of electronic trading and certification standards to enable the smooth operation of export markets. Standards and their usability underpin confidence in the operations of markets and their effective functioning. In institutional markets, an important role for government agencies lies in developing the initial specifications for standards for interoperable systems. Once these specifications are accepted, governments can then facilitate the eventual diffusion of a standard to the B2B marketplace. Acceptance of an industry standard can determine demand, which defines the viability of that market. In this paper, we describe an initiative by a government agency, the Australian Quarantine and Inspection Service (AQIS), in developing EXDOC, a standard for export documentation and the role that AQIS played in its implementation and diffusion. Our case study illustrates a successfully facilitated B2G implementation. It demonstrates how a standard can be supported and promulgated for the effective functioning of markets in the transition from manual to online export documentation. Once the overarching specifications for related industries have been established and diffused by government, opportunities arise for private sector markets to develop across these industries. Government agencies can promote the effective operation of standards for electronic markets. The EXDOC implementation and its iterations provide an exemplar of active engagement in the development of electronic trading and certification standards for an institutional market. Its successful diffusion provides a model of the implementation process for other export sectors and agencies.

Foreign Direct Investment and Regional Export Performance in China

This paper investigates the impact of foreign direct investment (FDI) on the export performance of China at the provincial level. First, it presents a theoretical discussion of the impact of FDI on foreign trade, and then an empirical study of the impact of FDI on the export performance of regions in Chin. It has been found that the impact of FDI on exports differs across three macro-regions in China. The effect is stronger in the coastal region than in the inland regions. Although FDI shows a positive and significant impact on exports from the central region, its impact on the western region is found to be insignificant.

CO2 credit or energy credit in emission trading?

Emission trading is a good concept and approach to tackle global warming. However, what “currency” or “credit” should be used in the trading has remained a debatable topic. This paper proposed an “Energy Credit” concept as an alternative to the “CO₂ credit” that is currently in place. From the thermodynamic point of view, the global warming problem is an “energy balance” problem. The energy credit concept is thought to be more thermodynamically correct and tackles the core of the global warming problem more directly. The Energy credit concept proposed can be defined as: the credit to offset the extra energy trapped/absorbed in the earth (and its atmosphere) due to the extra anthropogenic emission (or other activities) by a country or company. A couple of examples are given in the paper to demonstrate the concept of the Energy credit and its advantages over the CO₂ credit concept.