Voluntary demand for auditing by farm businesses: an Australian perspective

 This study investigates voluntary demand for auditing by Australian farm businesses, a significant but relatively unexplored segment of the economy. Most farms operate as family partnerships or sole proprietors and we thus focus on incentives to audit arising from internal sources (owner-manager), controlling for traditional incentives arising from external contractual constraints (i.e., debt), organisational characteristics (i.e., size), and agency conflict. We hypothesise that an external audit assists management in enhancing internal control by complementing the process of profit planning and control (budgeting) and that increased family conflict provides an incentive to engage external audit. Of the 457 survey questionnaire respondents, 27% voluntarily engage an external auditor and 66% conduct some formal written planning. Results from logistic regression analyses support the predicted impact of both size and debt on audit, and further support the hypothesised impact of budgeting. The positive association between budgeting and audit confirms the complementary relationship. More importantly, this relationship is not confounded by the combined impact of size and budgeting and debt and budgeting on voluntary audit. In addition, family conflict has no impact on voluntary demand for auditing by farm business.

Critical factors to the success of alliances in Australia

Governments in Australia face the challenge of meeting the growing demand for new infrastructure, which can be delivered more quickly in an increasingly complex environment. Alliance Contracting has been introduced to overcome some of the challenges by, aligning the incentives of the partners, clearly defining their rights and responsibilities, and providing the means for resolving disputes when they arise. The purpose of this research was to explore the critical success factors of Alliance Contracting in order to understand the roles of the various terms and conditions and how they fit together to create a relationship-based contract. A qualitative technique of semi-structured in-depth interviews was used to gather primary data in response to the research questions. The research aimed to develop an in-depth understanding of Alliance Contracting. The results show that the key contributor to the success or failure of Alliances is whether all the partners benefit equitably from the venture. Analysis of the data indicates that, in general, trusting attitudes/behaviour is perceived to be the most important critical success factor for Alliance Contracting in the broader construction industry. The second most popular critical success factor was shared and aligned goals. The third issue was the evidence of open behaviour, and the final issue was the presence of shared knowledge. The implication of this research is that there are several key factors that were necessary preconditions for successful Alliances.

Households' perceptions on sustainable home behaviour and improvements in Australia

The consumption of energy in the residential building is a major contributor to Australia's stationary energy greenhouse gas emissions. With the aim of investigating the householders' motivations and perspectives on sustainable home improvements, this study, by using an online survey instrument, collected more than 500 sets of questionnaire data from households in the state of New South Wales, Australia. Through statistical analysis of the data collected, this research has found that construction cost and government incentive were considered as major influence factors on achieving energy efficient residential building development, and the lower bills from reduced energy and water consumption were considered as the most important benefits from the households' perspectives. The research also found that although many households exhibited a high level of awareness or had implemented some sustainability improvements, the total number of potential improvements scored poorly. A suggestion, based on these research findings, is that the government should promote the reasons and benefits for sustainability home improvements that are identified in this research paper, and try to reduce material costs and improve government incentives.

Review of low actuation voltage RF MEMS electrostatic switches based on metallic and carbon alloys

Radio frequency micro electro mechanical systems (RF MEMS) have enabled a new generation of devices that bring many advantages due to their very high performances. There are many incentives for the integration of the RF MEMS switches and electronic devices on the same chip. However, the high actuation voltage of RF MEMS switches compared to electronic devices poses a major problem. By reducing the actuation voltage of the RF MEMS switch, it is possible to integrate it into current electronic devices. Lowering the actuation voltage will have an impact on RF parameters of the RF MEMS switches. This investigation focuses on recent progress in reducing the actuation voltage with an emphasis on a modular approach that gives acceptable design parameters. A number of rules that should be considered in design and fabrication of low actuation RF MEMS switches are suggested.

Swedes aim high with renewables in transport

Swedes are well aware of what dependency on imported oil means and the oil crises of the 1970s forced them to reduce their usage dramatically. The use of oil in the residential and services sector has fallen by 90% since 1970 largely due to the transition to electricity and district heating. Energy use in the transport sector, however, has proved harder to rein in. Despite taxes, subsidies and other incentives, oil products still supplied 91% of the country’s energy for transport in 2010 and continues to rise. It represents 23% of the country’s final energy use.

Security in uncertain times: policies for increasing the popularity of life annuities among retirees

Life annuities offer retirees an assured income stream for as long as they live. This makes it surprising that they are unpopular in most markets where their purchase is not compelled by government policy. With the numbers of retirees in the population set to increase dramatically, this low take-up rate of life annuities could exacerbate financial insecurity. Consequently, it is in society’s interest to implement non-coercive policies that increase annuitization levels. Although there is research that has focused on the possible causes of low annuitization rates, much of this research falls short of suggesting comprehensive strategies for persuading retirees to annuitize their savings.

Australia-Indonesia cooperation on asylum-seekers: a case of 'incentivised policy transfer'

Australia and Indonesia have engaged in cooperation on asylum policy since the late 1990s, bilaterally on immigration detention and people-smuggling agreements, and multilaterally through the Bali Process. Seen from a global perspective, this form of cooperation is one of many such bilateral and multilateral agreements that stymie the ability of asylum-seekers to gain effective and durable protection. This article argues that policy transfer theory can explain how these agreements are achieved, their political implications, and their outcome for the refugee regime and the asylum-seekers reliant on the regime for protection. In the case study of Australia and Indonesia, the authors argue that the cooperation is best understood as a form of ‘incentivised policy transfer’, whereby Australia has provided substantial financial and diplomatic incentives to Indonesia to adopt policies consistent with Australia's own. The implications for asylum-seekers in the Asia-Pacific region are substantial, and include an increase in the use of immigration detention in Indonesia and the introduction of border security measures that restrict the ability of asylum-seekers to reach territory where they may claim protection under the Convention Relating to the Status of Refugees.

Foreign aid, leisure-effort choice, and economic growth

Using an endogenous growth model, this paper examines the growth and welfare effects of foreign aid in the recipient economy. The emphasis is on the incentive factor of the effort-leisure choice. Besides financing public services, part of the aid is transferred to the public. This increases individual wealth, thereby providing less incentives to individuals for human capital acquisition, but with more leisure. Thus, foreign aid may not always help the growth and welfare of the economy. Taking this incentive factor into account, we further study the issue on aid allocation in achieving the highest levels of growth and welfare. Along the balanced growth path, aid allocation for welfare maximization is different from that under growth maximization.

Managing B2B customer churn, retention and profitability

It is now widely accepted that firms should direct more effort into retaining existing customers than to attracting new ones. To achieve this, customers likely to defect need to be identified so that they can be approached with tailored incentives or other bespoke retention offers. Such strategies call for predictive models capable of identifying customers with higher probabilities of defecting in the relatively near future. A review of the extant literature on customer churn models reveals that although several predictive models have been developed to model churn in B2C contexts, the B2B context in general, and non-contractual settings in particular, have received less attention in this regard. Therefore, to address these gaps, this study proposes a data-mining approach to model non-contractual customer churn in B2B contexts. Several modeling techniques are compared in terms of their ability to predict true churners. The best performing data-mining technique (boosting) is then applied to develop a profit maximizing retention campaign. Results confirm that the model driven approach to churn prediction and developing retention strategies outperforms commonly used managerial heuristics. © 2014 Elsevier Inc.

Basel risk weights, asset correlations, and book-to-market equity: evidence from Asian countries

We examine the effect of firm book-to-market equity values (BE/ME) on asset correlations which play an important role in determining risk weights under the current Basel capital requirements. Using firms in China, Hong Kong, Japan, Korea, Singapore and Taiwan over a sample period from 1988 to 2013, we find that BE/ME has a negative effect on asset correlations. This suggests a role for BE/ME as an additional factor in determining asset correlations, and thus risk weights, also potentially reducing incentives for regulatory capital arbitrage.

Sales Promotion Decision Making: Concepts, Principles, and Practice

Up to 74% of marketing budgets can be spent on sales promotions, with manufacturers, suppliers and retailers employing a wide range of incentives from price discounts to complex Omni-channel consumer competitions and contests. Sales promotions are a vital strategic and tactical tool within the marketing value chain and those responsible for campaign planning must negotiate objectives, options and outcomes to ensure their initiatives deliver real results in competitive trading environments. Managers with limited understanding of the principles and practices of sales promotions often rely on past experience or preferences to guide their decision-making. Not surprisingly, without guiding principles, many sales promotions fail to achieve their full potential. This book is a resource for sales promotion professionals looking to improve the effectiveness of their sales promotions. The book is based on an extensive review of over 400 articles and cases. It presents the findings of global research which explores the very DNA of sales promotions, including their role, rationale, nature and function, key decision-making processes and campaign evaluation. Illustrations of sales promotion decision-making in practice based on research conducted in the retail supply chain is also incorporated. This book offers a comprehensive and critical appreciation of the core concepts that underpin sales promotion thinking. The goal is to empower decision-makers, consultants and stakeholders to make confident, informed and effective campaign decisions in the complex field of sales promotions.

Integration of roof-top solar photovoltaic systems into the low voltage distribution network

The advancement in solar photovoltaic (PV) technology, the cost and efficiency of PVs have encouraged users worldwide to adopt more and more PVs as it is free from greenhouse gas emissions and unlimited in nature. Integration of roof-top solar PV systems is currently emerging rapidly in Australia as the governments are giving attractive incentives and encouraging households to build a sustainable climate-friendly society for the future. The key major barriers to the integration of roof-top solar PV systems are the uncertainties in the performance of the low voltage distribution network due to the intermittent nature of solar PV sources. In this paper, a model was developed to investigate the potential technical impacts of integrating roof-top solar PV systems into the low voltage distribution network in a subtropical climate. The results show that integration of roof-top solar PV in the customer premises causes uncertainties such as voltage fluctuations, phase unbalance, distribution transformer overloading, reactive power compensation, and harmonic injections that detract the overall power quality of the typical distribution network. © 2014 AIP Publishing LLC.

A randomised controlled trial of an intervention to increase the implementation of a healthy canteen policy in Australian primary schools: study protocol

Background: The implementation of healthy school canteen policies has been recommended as a strategy to help prevent unhealthy eating and excessive weight gain. Internationally, research suggests that schools often fail to implement practices consistent with healthy school canteen policies. Without a population wide implementation, the potential benefits of these policies will not be realised. The aim of this trial is to assess the effectiveness of an implementation intervention in increasing school canteen practices consistent with a healthy canteen policy of the New South Wales (NSW), Australia, government known as the 'Fresh Tastes @ School NSW Healthy School Canteen Strategy'.Methods/design: The parallel randomised trial will be conducted in 70 primary schools located in the Hunter region of New South Wales, Australia. Schools will be eligible to participate if they are not currently meeting key components of the healthy canteen policy. Schools will be randomly allocated after baseline data collection in a 1:1 ratio to either an intervention or control group using a computerised random number function in Microsoft Excel. Thirty-five schools will be selected to receive a multi-component intervention including implementation support from research staff, staff training, resources, recognition and incentives, consensus and leadership strategies, follow-up support and implementation feedback. The 35 schools allocated to the control group will not receive any intervention support as part of the research trial. The primary outcome measures will be i) the proportion of schools with a canteen menu that does not contain foods or beverages restricted from regular sale ('red' and 'banned' items) and ii) the proportion of schools where healthy canteen items ('green' items) represent the majority (>50%) of products listed on the menu. Outcome data will be collected via a comprehensive menu audit, conducted by dietitians blind to group allocation. Intervention effectiveness will be assessed using logistic regression models adjusting for baseline values.Discussion: The proposed trial will represent a novel contribution to the literature, being the first randomised trial internationally to examine the effectiveness of an intervention to facilitate implementation of a healthy canteen policy.

Corporate social responsibility disclosures and earnings quality: Are they a reflection of managers’ opportunistic behavior?

Purpose – This paper aims to explore the relationship between corporate social responsibility (CSR) disclosures and earnings quality proxied by earnings accruals. Specifically, we examine whether CSR disclosures are context-specific, that is, whether companies dominated by powerful stakeholders are obliged to behave in a responsible manner to constrain earnings management, thereby reporting higher-quality earnings to investors. Design/methodology/approach – This paper explores the relationship between CSR disclosures and earnings quality proxied by earnings accruals. Specifically, we examine whether CSR disclosures are context-specific, that is, whether companies dominated by powerful stakeholders are obliged to behave in a responsible manner to constrain earnings management, thereby reporting higher-quality earnings to investors. Findings – Results show that managers in an emerging economy manage earnings when they provide more CSR disclosures. Such earnings management is achieved through income increasing discretionary accruals. Furthermore, companies from export-oriented industries dominated by powerful stakeholders (international buyers) disclosing more CSR activities, provide transparent financial reports through constraining earnings management. Originality/value – The findings of this study are significant for both investors and policymakers. Investors should not take for granted that firms engage in CSR activities, behave ethically and provide transparent financial reports. As we document that firms might manipulate earnings through discretionary accruals and provide less transparent financial reports to shareholders, the credibility of firms’ CSR policies should be assessed with caution. Policies directing at promoting socially responsible practices instead of motivating the desired behaviour, may provide managers with additional incentives to utilise CSR for opportunistic behaviour. Thus, policymakers need to be cautious about this opportunistic behaviour and enhance monitoring to enforce social compliance. Possibly, some guidelines can be introduced to confirm that CSR disclosures are based on actual practice and not just a “green wash” statement to deceive stakeholders.

Introduction: IP and the Asia-Pacific ‘spaghetti bowl’ of free trade agreements

The contributions to this book show the strategies and policies of countries in the Asia-Pacific region that have to grapple with international standard setting in what has been called the ‘spaghetti bowl’ of criss-crossing free trade agreements. The chapters show how intellectual property is just one among many political and economic factors that are used in trade off discussions. It leads to an often considerable further raising of IP standards in those countries that agree to higher protection levels, often for reasons that have little to do with the provision of incentives for technological progress. A more nuanced picture of IP protection in Asia shows the different interests of high protection countries, ‘first’ and ‘second tier’ newly industrialized and industrializing countries and the rather peculiar position of Australia and New Zealand. The chapter introduces the contributions to this volume according to these various groups of countries and of international law and the political economy of the region.