The impact of the adoption of IAS 19 employee benefits on annual financial statements: an examination of Australian and United Kingdom companies

International Financial Reporting Standards (IFRS) have been adopted by a number of countries as a means of harmonising financial statements around the world. Proponents of IFRS suggest many benefits upon their adoption. This paper examines the effect of the adoption of IFRS on aspects of the company's financial statements, in particular, the adoption of the IFRS relating to post employment benefits and its effects on debt/equity ratios.

This study compared the reporting practices of a number of Australian and UK companies and found that for most companies there was a substantial increase in liabilities, a decrease in shareholders' equity and a corresponding increase in debt/equity ratios after the IFRS were adopted.

Legal regulation and corporate governance in China`s top 100 listed companies

This article reports findings from an empirical study of corporate governance in China's top 100 listed companies. It examines the effectiveness of legal regulation, enforcement and remedies, finding that China's company and securities laws have not provided as string a legal framework for the protection of stakeholders im China's stock exchange listed companies as might be expected by investors.

Auditor selection : what influences decisions by listed companies?

Major business failures, including Enron and WorldCom in the United States and Harris Scarfe and HIH in Australia, and related alleged audit failures, have put the choice of auditor on the agenda. The choice of the right auditor has economic consequences for an auditee and implications for corporate governance. Factors important to explaining auditor choice are discussed, including institutional factors (pertaining to the auditee and auditor) and newer emerging criteria as well as networking between directors and auditors. Relevant research and the policy implications for good corporate governance of auditor choice in publicly listed companies are explored.

The nature and development of the general insurance industry in Australia to 1973

The development of the insurance industry in Australia in the twentieth century was fundamentally shaped by a collusive code of conduct called the tariff. This arrangement, established to overcome problems of uncertainty, initially benefited both tariff and non-tariff firms by enhancing market stability. It also reduced competition. The collusive agreements gradually broke down, however, as new entrants and products entered the market in the 1950s. Self-regulation gradually gave way as the 'rules of the game' changed. The result was a period of instability before new competitive practices, and more direct and specific regulatory requirements emerged in the 1970s.

Do MBA degrees matter? A study of boards of directors in Australia's top 200 companies

Pfeffer and Fong (2002) suggest that “business school enrolments have soared and business education has become a big business”. The Master of Business Administration (MBA) degree has often been held out to be useful in the career development of managers. The highest level that managers can aspire to, is to be a director of a large public company. This study investigates how many directors within the boards of Australia’s top 200 companies by market capitalization hold an MBA degree. We find that larger companies have proportionally more MBA holding directors than smaller companies. Interestingly we also find that proportionally more women hold MBAs than men; nearly one in five women directors hold an MBA within the top 200 companies dataset.

Structural adjustment and change in the Australian life insurance industry post demutualization

Deregulation of financial markets has been an important platform for government policy in recent times. It has been a catalyst in the expansion of financial sector. The experience of Australian life insurers during this period represents an interesting case study into the impact of regulatory transition. The lifting of restrictions changed the institutional environment within which life insurers operated. In doing so it precipitated changes in strategies and organizational structures of these financial intermediaries. An information cost framework is used to analyse the consequences of deregulation and its implications for the Australian life insurance industry in emerging global financial markets.

The marketing audit and business performance: an empirical study of large Australian companies

The conceptual framework of the marketing audit has been well developed by different contributors since the late 1950s. At the present time, the popular marketing textbooks and the published academic and general literature deal primarily with the theoretical and practical aspects of the marketing audit without offering any rigorous empirical justification of the practice. The teaching of the marketing audit appears to be based on the logical expectation of its usefulness, isolated case studies, and anecdotal evidence. There is little indication of how the marketing audit is actually being used, the procedure in conducting it, and how the industry perceives and evaluates its benefits. This paper attempts to explore and profile the current practice of the marketing audit in larger Australian firms. The results of this industry-based survey of 216 large Australian businesses indicated that about 48 per cent of the respondents have used the marketing audit, with 75 per cent using the self-audit method in conducting it. The respondents’ perception was that the implementation of the recommendations of the marketing audit had contributed mostly between one per cent and 10 per cent to their organisational performance.