International tax cooperation in the Post-GFC era

Over the last five years we have observed the fallout from the global financial crisis (GFC). International cooperation and jointly adopted policies have dominated many of the solutions to the problems which have arisen. Initially, many nations in response to the GFC, implemented a two pronged short term solution by undertaking fiscal intervention and delivering rescue packages aimed at first, bailing out financial institutions and second, preventing or minimising the impact of a recession. Both programs involved large amounts of domestic spending. It was difficult in early 2007 to foresee the reduction that nations were about the face in domestic revenue collected. Five years on, not only have the first line effects of the GFC reduced the revenue raised by governments around the world, but the consequential costs associated with the rescue packages have also depleted domestic revenue bases. The response by stakeholders has been to attempt to secure domestic revenue bases through fiscally sustainable measures. Domestic sovereignty allows the levying of taxes as a nation chooses. However, rather than raise domestic taxes, revenue may also be increased by stemming the flow of income and capital to low and no-tax jurisdictions. The intervening five-year period since the GFC allows a unique insight into the response by nations and international organisations to tax evasion, tax avoidance and aggressive tax competition through the cross border flows of capital and the resulting affect that the GFC has had on international tax cooperation. By investigating the change in the international tax landscape over the last five years, which reveals the work done by stakeholders in developing fiscally responsible responses to the problems that have arisen, it may be possible to predict the trajectory of the international tax landscape over the next five years.

The preferences of private equity investors in selecting target acquisitions : an international investigation

This study investigates the characteristics and attributes that private equity investors prefer when selecting target acquisitions. These characteristics are examined against a matched sample of firms subject to corporate acquisitions via tender/merger offer during 2000-2009, across seven countries: Australia, Canada, the United Kingdom, the USA, France, Germany and Sweden. We show that firm-specific characteristics are more influential in target selection than external or institutional variables. In particular, private equity targets exhibit lower stock volatility and long-term growth prospects, are larger, and have greater abnormal operating income relative to tender/merger offer target firms. Further, private equity bidders exhibit 'home bias', implying that familiarity motivates target selection. Institutional factors remain largely insignificant across all tests.

Cultural fitness for business process management : what is it and what is it worth?

While business process management (BPM) is often associated with large investments in IT systems and process analysis projects, the success of BPM initiatives largely depends on the cultural readiness of organizations for process management. In this article, we introduce a model that helps to understand the role of culture in managing business processes and to take the right investments into the development of organizational culture. For that purpose, we also describe an assessment tool that allows examining the supportiveness of an organizational culture for BPM initiatives. We show how the results of such an assessment help organizations to determine in which areas of a corporation investments in cultural change can be most beneficial.

Rating the Audience : the Business of Media

Knowing, measuring and understanding media audiences have become a multi-billion dollar business. But the convention that underpins that business, audience ratings, is in crisis. Rating the Audience is the first book to show why and how audience ratings research became a convention, an agreement, and the first to interrogate the ways that agreement is now under threat. Taking a historical approach, the book looks at the evolution of audience ratings and the survey industry. It goes on to analyse today's media environment, looking at the role of the internet and the increased difficulties it presents for measuring audiences. The book covers all the major players and controversies, such as Facebook's privacy rulings and Google's alliance with Nielsen. Offering the first real comparative study, it will be critical for media students and professionals.

A typology for business transformations (research in progress)

The term “business transformation” is a buzzword, often used to signify fundamental changes undergone by organisations. Despite numerous works in enterprise transformation, IT-enabled business transformation and organizational transformation, there appears to be a lack of consensus on what actually constitutes a business transformation as opposed to other types of redesign or organisational improvement projects. Consequently, knowledge about which elements of a business system that are impacted by such an endeavour is largely inconsistent, and partially conflicting. We present a business transformation typology that considers 18 attributes pertaining to the transforming organisation and the transformation initiative. To explore our typology, we analysed 10 published case studies and classified them along two dimensions – one ranging from marginal to fundamental changes, and another on internal and external visibility. Our literature review reveals how the terminology has been misused, and we provide some directions to provide more clarity around transformation phenomena in IS research.

Full compensation no longer sacrosanct : reflections on the past and future economic loss ‘cap’ for high income earners

The civil liability provisions relating to the assessment of damages for past and future economic loss have abrogated the common law principle of full compensation by imposing restrictions on the damages award, most commonly by a “three times average weekly earnings” cap. This consideration of the impact of those provisions is informed by a case study of the Supreme Court of Victoria Court of Appeal decision, Tuohey v Freemasons Hospital (Tuohey) , which addressed the construction and arithmetic operation of the Victorian cap for high income earners. While conclusions as to operation of the cap outside of Victoria can be drawn from Tuohey, a number of issues await judicial determination. These issues, which include the impact of the damages caps on the calculation of damages for economic loss in the circumstances of fluctuating income; vicissitudes; contributory negligence; claims per quod servitum amisit; and claims by dependants, are identified and potential resolutions discussed.

Supporting risk-informed decisions during business process execution

This paper proposes a technique that supports process participants in making risk-informed decisions, with the aim to reduce the process risks. Risk reduction involves decreasing the likelihood and severity of a process fault from occurring. Given a process exposed to risks, e.g. a financial process exposed to a risk of reputation loss, we enact this process and whenever a process participant needs to provide input to the process, e.g. by selecting the next task to execute or by filling out a form, we prompt the participant with the expected risk that a given fault will occur given the particular input. These risks are predicted by traversing decision trees generated from the logs of past process executions and considering process data, involved resources, task durations and contextual information like task frequencies. The approach has been implemented in the YAWL system and its effectiveness evaluated. The results show that the process instances executed in the tests complete with substantially fewer faults and with lower fault severities, when taking into account the recommendations provided by our technique.

Shifting the Airline Business Model - Current Struggles of National Carriers to Become Profitable Passenger Experience Companies

National flag carriers are struggling for survival, not only due to classical reasons such as increase in fuel and tax or natural disasters, but largely due to the inability to quickly adapt to its competitive environment – the emergence of budget and Persian Gulf airlines. In this research, we investigate how airlines can transform their business models via technological and strategic capabilities to become profitable and sustainable passenger experience companies. To formulate recommendations, we analyze customer sentiments via social media to understand what people are saying about the airlines.

How fit is your organizational culture for business process management?

While business transformations often primarily focus on technological and methodological solutions, there is consensus that having the right organizational culture is critical for the successful change of business processes.

Sale of Businesses in Australia (2nd ed.)

The greater volume of businesses sold in Australia each year are small to medium enterprises. The administration of business contracts presents far different challenges than, for example, contracts for the sale of goods alone or contracts for the sale of land. The subject matter comprises both real and personal, and tangible and intangible property. Other considerations that do not affect those other commonplace contracts include dealing with employees who are both remaining and departing, taking account of restraints of trade, and the phenomena of the passing of property being different in respect of different forms of property being transferred in the same contract. In keeping with the format of the previous edition, the book is written with the busy practitioner in mind. It deals with the formation of business contracts, all aspects of disclosure both contractual and statutory, the role of agents, and detailed consideration of the different types of subject matter of small business contracts including, the lease of the premises, intellectual property, goodwill, licences, book debts and plant and equipment. It has up to date treatment of income tax implications of the sale and the impact of the latest Commonwealth legislation on dealing with employees of a business on sale. Consistent with the last edition, the book has chapters on time of the essence and completion, personal securities, restraint of trade clauses, special conditions and remedies for breach by both parties and misleading or deceptive conduct by the seller. In relation to personal securities, whilst the current State and Territory based law on Bills of Sale and other Chattel Securities has been the subject of commentary, the proposed national reform agenda has also been commented upon although that legislation is not due until May 2010 at the earliest

ACE research vignette 022 : family business succession : when death takes a hand

This series of research vignettes is aimed at sharing current and interesting research findings from our team of international Entrepreneurship researchers. In this vignette, Dr. Mervyn Morris considers the impact on family business operations due to the sudden and unexpected death of a key family member.

Third international workshop on empirical research in business process management (ER-BPM 2012)

Empirical research in business process management(BPM) is coming of age. In 2009, when the inaugural ER-BPM workshop was held, the field of BPM research was characterized by a strong emphasis on solution development, but also by an increasing demand for insights or evaluations of BPM technology based on dedicated empirical research strategies. The ER-BPM workshop series was created to provide an international forum for researchers to discuss and present such research.

International entrepreneurship for SME business growth : a resource and dynamic capability view of the firm : an internet context

This research explores the relationship between international business Internet capabilities and international entrepreneurial characteristics. It has been suggested, that the accumulation of a firms Internet capability can assist international operations, especially when operating in fast changing dynamic environments. However, the international entrepreneurial characteristics which are seen as a precursor to leveraging such capabilities are still vague. Given this finding a conceptual framework is constructed and research issues are then developed in order to focus attention on the relationship between the Internet and a firm’s resource base, dynamic capabilities and international market performance.

Editorial : Learning, teaching and disseminating knowledge in business process management

Process-oriented thinking has become the major paradigm for managing companies and other organizations. The push for better processes has been even more intense due to rapidly evolving client needs, borderless global markets and innovations swiftly penetrating the market. Thus, education is decisive for successfully introducing and implementing Business Process Management (BPM) initiatives. However, BPM education has been an area of challenge. This special issue aims to provide current research on various aspects of BPM education. It is an initial effort for consolidating better practices, experiences and pedagogical outcomes founded with empirical evidence to contribute towards the three pillars of education: learning, teaching, and disseminating knowledge in BPM.