The use of codes of ethics in the marketplace in corporate Australia : a longitudinal study

The stock market crash of 1987 was a defining moment in Australian corporate life. As a nation, we became acutely aware of the ‘moral bankruptcy’ that had come to permeate our corporate world. The focus on business ethics or the lack of it, in corporate Australia in the late 1980s, prompted this research.

The research for this paper that was first conducted in 1995 and replicated in 2001 focussed on the top 500 companies in Australia. These companies were surveyed on a raft of issues, one of which was their use of their codes of ethics in the marketplace. This paper examines the data sets from 1995 and 2001 and concludes that many of Australia’s largest enterprises have recognised the need for business ethics. As perceived by them, they can and do use their codes of ethics in a positive manner in the marketplace and attribute benefits to this interaction.

Corporate ethics and new technology: an exploratory investigation of advertising activity and world wide web usage

This study explores the ethical standards and behaviour of Australian advertisers and their usage of new technologies. Although corporate ethics has been an issue in the established media of television advertising for some time, there is little research about how companies are adapting in terms of ethics to the new communication technologies. The consumers’ “right to know” was used as a device to assess the ethical standards and behaviour of companies. Findings suggest that the WWW is not used as a means of communicating corporate ethical standards. Results indicate that the method of communicating requests for information does not influence the likelihood of receiving a response from a company. The results also show differences between the ethical standards and the ethical behaviour of those companies who do use the WWW to communicate ethical statements.

An exploratory investigation of attitude toward the website and the advertising hierarchy of effects

The paper discusses the findings of a study designed to increase the generalisability, validity and reliability of earlier studies concerning the relationships between attitude toward the ad and aspects of the advertising hierarchy of effects model in the online marketing context. The findings suggest that the traditional advertising hierarchy of effects model is relevant in the online marketing environment, and that investment in online marketing communication can be evaluated using this stable and reliable method. It is, however, suggested that further research is needed to improve the generalisability of the findings.

A conformity test of corporate financial disclosures in Asian and Middle East countries

This paper investigates the financial disclosure practices of corporate annual reports published in Asian countries including Bangladesh, Indonesian, Malaysia and the Middle East countries including Bahrain, Iran, Jordan, Kuwait, Oman, Pakistan, Qatar, Saudi Arabia and Turkey. The purpose of the study is to measure the financial disclosure diversity in these countries, with a view to developing a classification of their similarities and differences in respect to their compliance with International Accounting Standards (IASs). Annual reports of 132 public companies listed on the relevant countries stock exchanges are the central data source, supplemented with other reliable information about financial disclosure practices in each country. A disclosure checklist adopted from all IASs and summarised in 306 individual items of financial disclosures is used as a means of extending an understanding of financial reporting literature. Additionally, it provides an indication of voluntary progress towards harmonisation of international accounting practices in several Asian and Middle Eastern countries. Results show the degree of conformity with IASs from less to high conformity is: Saudi Arabia, Qatar, Bangladesh, Iran, Bahrain, Jordan, Pakistan, Oman, Turkey, Malaysia, Kuwait and Indonesia.

From product centricism to systems-wide education design: making corporate technology systems work for the learning organisation

Deakin University has established a major integrated corporate technology infrastructure in the last two years to enhance and bring together its distance education and on-campus education. This environment has been called Deakin Online. With Deakin Online rapidly developing, efforts are beginning to focus more fundamentally on how the potentials of the environment can be realised to create enduring teaching and learning value. This search must be understood in the context of the University’s commitment to the values of relevance, responsiveness and innovation. The question is: how can these values be realised in the digitally-based evolving educational enterprise using the new corporate technologies and new concepts of organisational structure and function? We argue for the transforming role of the academic teacher and new forms of open academic collegiality as being critical to realise strategic and enduring educational value. Moreover, change in role and process needs to be grounded in more systemic organisation and program-wide approaches to designing and working within the new contemporary learning environments. We believe the shift from the dangers of product centricism to system-wide education design modelling situating e-learning within broader curricular and pedagogical concerns represents the best strategy to create enduring educational benefits for all stakeholder groups (notably academic teachers and their learners) while preserving teachers’ sense of agency in the changing learning environments of higher education.

Are we speaking the same language? Corporate perceptions of human rights responsibilities

Over the last several years, notions of corporate social responsibility and corporate responsibility for human rights have developed on several fronts, including under international human rights law, through voluntary initiatives and in the discourse and the reporting of the corporations themselves. But are all protagonists on all these fronts speaking the same language? Are these developments truly improving the realisation of human rights?
As one aspect of its three year Australian Research Council project examining the legal human rights responsibilities of multinational corporations, the Castan Centre for Human Rights Law set out to discover the perceptions that multinational corporations have of their own human rights responsibilities, the types of activities undertaken by corporations to fulfill those responsibilities and the appropriate extent, if any, of the imposition of legally binding human rights obligations on corporations.
While not setting out the formal findings of that empirical study, this paper reports on some interesting discoveries as to how corporations see their place in the human rights debate. It notes a divergence among corporations' views of the nature of human rights responsibility - whether an obligation or a benevolence - as well as its content. In considering whether corporations ought to have legally binding human rights obligations, a surprising number of corporations replied in the affirmative, citing reasons such as certainty in dealing with suppliers and instituting a level playing field against rogue operators.
However,  perhaps the most important finding is the different understandings of human rights as they relate to a corporation's operations. Agreement on potential reforms would be meaningless if they were not employed towards a commonly understood end. After examining the various responses of the corporations and the evidence they cited to support their contentions, the paper concludes that the various protagonists of human rights responsibility for corporations may be using the same words, but they are not yet speaking the same language.

Corporate governance developments in commonwealth countries

Corporate failures, fraud and rising salaries have directed attention towards the corporate governance mechanisms of companies. A review of governance developments in selected Commonwealth countries is undertaken in order to inform the governance debate and provide an opportunity to discuss governance relating to some countries which may not receive much attention in the debate. The countries covered in this review are the United Kingdom, South Africa, India and Australia. Brief coverage of the respective countries' progressions in the corporate governance debate is provided.

Corporate governance failure and its impact on National Australia Bank's performance

The National Australia Bank (NAB) is the largest financial services institution listed on the Australian stock exchange and is within the 30 most profitable financial services organisation in the world. In January 2004, the bank disclosed to the public that it had identified losses relating to unauthorised trading in foreign currency options amounting to AUD360 million. Thisforeign exchange debacle was classified as operational risk, the risk of loss resulting from inadequate or failed processes, people, or systems and reiterated the importance of corporate governance for banks. Concurrent issues of National Australia Bank's AUD4.1 billion loss on US HomeSide loans in 2001, the degree of strength of their risk management practices and lack of auditor independence, were raised by the US Securities and Exchange Commission in 2004, reinforcing the view that corporate governance had not been given the priority it deserved over a number of years. This paper will assess and critically analyse the impact of corporate governance failure by management and Board of Directors on NAB's performance over the years 2001-2005.

Robust terminal attitude navigation for autonomous vehicles

Here we define the terminal attitude of the pursuer with respect to a target and present a LQR and H¿ control approach to solving the problem of pursuer achieving a desired terminal attack/approach angle. The intercept or engagement criteria is defined in terms of both minimizing the miss distance and controlling the pursuer's body attitude with respect to the target at the terminal point. This approach in comparison to previous approaches consider the relativistic approach of the pursuer with respect to the target as opposed the absolute velocities of the two dynamic bodies, and have possible applications ranging from autonomous vehicle entry in to a mother craft to nossle engagements in on-flight refuelling or even in precision missile guidance. Here we also suitably formulate the H¿ control ideas directly applicable to the underlying problem and presents both state feedback and output feed back results for the case of finite horizon and non-zero initial conditions together with a optimal parameter value to achieve a desired terminal characteristic in terms of the original weighting parameters.

Financial fraud and the use of ratios in corporate collapse prediction models

This paper highlights the prevalence and extent of financial fraud amongst collapsed corporations. In doing so, it examines the recent spectacular corporate collapses of Parmalat in Europe, Enron and WoridCom in the USA and HIH in Australia. A new methodology that provides empirical evidence to the financial fraud claims found in the literature, is then put forward. The proposed methodology argues that if financial fraud was a possibility amongst collapsed corporations, then two premises ought to be observed in the literature on ratio based multivariate modelling for predicting corporate collapse. First, in the absence of financial fraud, we expect the models to consistently predict corporate collapse with a high degree of accuracy; particularly, as one approaches the incident of collapse. Second, if financial fraud takes place and statement figures are distorted, then we expect the financial ratios, which are the predictor variables in these models, to lose relevance and therefore their use in models will be short-lived. Empirical support from Hossari and Rahman (2004) and Hossari and Rahman (2005) is presented as evidence to the two premises.