The role of the board of directors : perceptions of managerial elites

We highlight how directors and senior managers perceive the roles of a board to involve overseeing risk and compliance, strategy, governance, developing the CEO and senior management and managing stakeholders. We find that managers and directors perceive board effectiveness as linked to different combinations of these roles and that there appear to be differences in perceptions between different types of firms. We conclude that clarity around the board’s role set is critical to furthering the corporate governance research agenda, and that the relationship between board roles and perceived board effectiveness differs between managers and directors.

Student perceptions of the quality of property education in Australia : 1994 – 2009

Using the Graduate Careers Australia’s Course Experience Questionnaire (CEQ), the students’ perceptions of the quality of property education in Australia is assessed over 1994-2009. Analyses are presented for the major property universities in Australia regarding good teaching and overall satisfaction, as well as the property discipline benchmarked against the property-related disciplines of accounting, building, business, economics, law and planning. The link between good teaching and overall satisfaction, and the delivery of added value by property programs are also assessed. Changes over this 16-year period are highlighted in terms of student perceptions of the quality of property education in Australia.

Member perceptions of ESG investing through superannuation

Purpose Environmental, social and governance (ESG) risks have the potential to negatively impact financial returns, yet few superannuation funds integrate these considerations into their investment selection. The Cooper Review (2010) identified a lack of member demand as a key impediment to ESG investing by superannuation funds. Given this problem, the aim of this study is to explore superannuation fund members’ perceptions of ESG investing by their funds in order to identify reasons for the lack of demand. Design/methodology/approach An on-line survey was developed and distributed to assess possible reasons why members do not select ESG investment options. In total, 549 Australian superannuation fund members responded to the survey. Findings Results indicate that the majority of superannuation fund members are interested in ESG investing. Members lack awareness of their fund’s approach to ESG investing, and they do not perceive there to be a financial penalty from ESG investing. Finally, members show a preference for consideration of governance issues over both social and environmental issues. Research limitations Respondents are well educated and the majority did not choose their superannuation fund. There was no measure of financial literacy included in the research instrument. There is also a general limitation in surveying superannuation fund members when they lack knowledge about superannuation. Practical implications The results indicate that superannuation members are interested in both superannuation and ESG investing. Given the low take-up of ESG investment options, this finding raises the question of how effectively funds are engaging their members. Social implications The results should be of interest to superannuation funds and may lead to renewed interest in promoting ESG products. Originality/value This is the first study to examine superannuation members’ attitudes and behaviours towards ESG investing in the context of superannuation. The study also adds to our understanding of member decision making in the $1.8 trillion superannuation industry.

Male and female, cyclist and driver perceptions of crash risk in critical road situations

Male and Female, Cyclist and Driver Perceptions of Crash Risk in Critical Road Situations. Governments are promoting cycling but many Australians, particularly women, do not ride because they perceive it to be too risky. This research compared the risks perceived by female and male, cyclists and drivers in specific on-road situations, accounting for factors such as travel patterns and experience, perceived skill, and risk taking behaviours. Compared to their male counterparts, female cyclists and drivers gave similarly elevated perceptions of risk. These differences are not completely accounted for by cycling patterns or perceptions of skill. Thus, these gender differences are not specific to cycling, but may reflect wider differences in risk perception.

Male and female cyclist and driver perceptions of crash risk

Many drivers and non-cyclists perceive cycling as an extremely risky activity with women in particular being concerned about the risk of injury. The low rates of cycling participation by women pose a threat to the achievement of government targets for cycling participation and restrict the potential transport, health and environmental benefits that increased levels of cycling could provide. This study seeks to extend earlier research in gender and cycling by comparing the risks perceived by female and male cyclists and drivers in specific on-road situations while accounting for other potentially gender-related factors such as travel patterns and experience, perceived skill, and risk taking behaviors. In an online survey, 444 regular cyclists and 151 (non-cyclist) car drivers rated the level of risk in six situations: Failing to yield; Going through a red light; Not signaling when turning; Swerving; Tailgating; and Not checking traffic. The study found that the higher levels of risk perceived by women are not completely accounted for by differences in cycling patterns or perceptions of skill. Compared to their male counterparts, female cyclists and car drivers had similarly elevated perceptions of risk suggesting that these gender differences are not specific to cycling, but reflect wider differences in risk perception. Not all of the gender differences were consistent across cyclists and drivers. Higher levels of perceived skill were evident for male cyclists but not for male car drivers. Further research is needed to explore the robustness and interpretation of this finding.

External auditors’ perceptions of cloud computing adoption in Australia

Adopting a multi-theoretical approach, I examine external auditors’ perceptions of the reasons why organizations do or do not adopt cloud computing. I interview forensic accountants and IT experts about the adoption, acceptance, institutional motives, and risks of cloud computing. Although the medium to large accounting firms where the external auditors worked almost exclusively used private clouds, both private and public cloud services were gaining a foothold among many of their clients. Despite the advantages of cloud computing, data confidentiality and the involvement of foreign jurisdictions remain a concern, particularly if the data are moved outside Australia. Additionally, some organizations seem to understand neither the technology itself nor their own requirements, which may lead to poorly negotiated contracts and service agreements. To minimize the risks associated with cloud computing, many organizations turn to hybrid solutions or private clouds that include national or dedicated data centers. To the best of my knowledge, this is the first empirical study that reports on cloud computing adoption from the perspectives of external auditors.

Deriatives disclosure in corporate annual reports: bank analysts; perceptions of usefulness

Responding to mixed evidence on the decision-usefulness of annual report disclosures for derivative financial instruments to capital market participants, and concerns identified by practice, this paper examines usefulness in a direct study of user perceptions. Interviews with analysts from Australia’s four major banks reveal essential usefulness, limited by the disclosures’ failure to reflect companies’ actual use of derivatives throughout the period, and inability of users to understand companies’ off-balance sheet risk and risk management practices from information considered generic and boilerplate. The research complements and extends existing archival and survey research and provides new evidence suggesting low-cost ways for increasing usefulness. It supports the International Accounting Standards Board’s disclosure recommendations in its recent Discussion Paper: A Review of the Conceptual Framework for Financial Reporting, but, at the same time, highlights that for these proposed measures to be successful in relation to IFRS 7, they may need to address other issues. The research increases knowledge of the informational requirements of lenders, an important class of financial information user, and supports calls from practice for companies to improve their disclosure of material economic risks.

Transitioning from university to the workplace: Stakeholder perceptions of academic and professional writing demands

This study provides a detailed insight into the changing writing demands from the last year of university study to the first year in the workforce of engineering and accounting professionals. The study relates these to the demands of the writing component of IELTS, which is increasingly used for exit testing. The number of international and local students whose first language is not English and who are studying in English-medium universities has increased significantly in the past decade. Many of these students aim to start working in the country they studied in; however, some employers have suggested that graduates seeking employment have insufficient language skills. This study provides a detailed insight into the changing writing demands from the last year of university study to the first year in the workforce of engineering and accounting professionals (our two case study professions). It relates these to the demands of the writing component of IELTS, which is increasingly used for exit or professional entry testing, although not expressly designed for this purpose. Data include interviews with final year students, lecturers, employers and new graduates in their first few years in the workforce, as well as professional board members. Employers also reviewed both final year assignments, as well as IELTS writing samples at different levels. Most stakeholders agreed that graduates entering the workforce are underprepared for the writing demands in their professions. When compared with the university writing tasks, the workplace writing expected of new graduates was perceived as different in terms of genre, the tailoring of a text for a specific audience, and processes of review and editing involved. Stakeholders expressed a range of views on the suitability of the use of academic proficiency tests (such as IELTS) as university exit tests and for entry into the professions. With regard to IELTS, while some saw the relevance of the two writing tasks, particularly in relation to academic writing, others questioned the extent to which two timed tasks representing limited genres could elicit a representative sample of the professional writing required, particularly in the context of engineering. The findings are discussed in relation to different test purposes, the intersection between academic and specific purpose testing and the role of domain experts in test validation.

Perceptions of the first year experience at university

Until recently the issues of transition to university have been largely ignored in educational research. However, in recent years economic factors have meant that Governments require universities to be more publicly accountable and efficient than in the past. As a result, increased emphasis has been placed on the retention and transition of university students. Students new to tertiary study face a range of challenges in making the adjustment from school to university. They are expected to learn challenging material and to develop independent thought while adjusting to different teaching and expanded social environments (McInnis and James, with Mc Naught, 1995). In the context of first year accounting studies, the importance of the first year experience has been emphasised in the United States by the Accounting Education Change Commission (AECC) (1992). The AECC (1992, p.1) states that "the [first] course shapes [potential accounting majors'] perceptions of (1) the profession, (2) the aptitudes and skills needed for successful careers in accounting, and (3) the nature of career opportunities in accounting." Adams et al. (1994) and Cohen and Hanno (1993) provide empirical support for the importance of a positive experience in the first accounting course.

The role of computer assisted learning packages in determining learning outcomes of accounting students

This study examines the factors affecting student performance in an undergraduate financial accounting course, utilising Computer Assisted Learning (CAL) and use of a commercial software package. Multiple regression analysis was undertaken to examine the influences of perceptions of CAL and QuickBooks Pro, together with background variables such as gender, entry pathway and prior knowledge had on student performance. The results show that perceptions of CAL together with entry pathway were significant predictors of student performance. However, perceptions of the ,usefulness of QuickBooks Pro, prior studies of accounting and computing, together with gender, were not significant influences on performance. In terms of entry pathway it was found that International students, many of whom entered the university at the second year level having obtained advanced standing credits, had significantly poorer performance than local students. This result may be attributed to transitional problems experienced by these students, given their different pathways to university study.

The results have implications for accounting educators utilising CAL in courses as a means of improving students understanding of accounting concepts. The study also provides reflections on the use of CAL and a commercial software package as a means of providing efficient and effective educational instruction to maximise learning outcomes in accounting.

Learning approaches and student perceptions of teaching quality

This research investigated the links between students' personal characteristics, their approaches to learning and their perceptions of teaching quality in a first-year accounting unit. Significant learning differences were found between Australian and Chinese students, and strong inter-relationships between contextual factors, such as teaching quality, and learning approaches were identified.

Evaluation of user perceptions of an application of activity-based costing

This study examined the extent to which preparers and end-users of Activity-Based Costing information are satisfied with this technique and the factors forming the basis of that belief.

Perceptions of corporate boards about standards of corporate governance in Thailand

The aim in this study is to discover the nature and extent of corporate governance in listed companies in Thailand. This includes a consideration of theoretical underpinning for amendments made to the western models of corporate governance that have been implemented by Thai listed companies, and of the effect of corporate governance principles on financial information, including financial reports, used by stakeholders in Thai listed companies. The results in this study show that after the Asian financial crisis corporate governance in Thailand improved especially in enforcement and disclosure, and outside/independent directors and professional organisations are playing leading roles in that process. Better corporate governance has resulted from improved internal corporate governance mechanisms and enhanced accounting standards, information disclosure, and auditing standards. New and up-dated rules, new and revised laws, and increased regulation are in the forefront of improved corporate governance. Process-related activities like monitoring, supervising, enforcing, and higher awareness have increased. Moreover, corporate governance practices are now in the spotlight throughout the financial and investment markets.