Earnings management and the performance of Australian IPOs

This thesis examines earnings management in the Australian initial public offering (IPO) market. In general, the results show that Australian IPO firms do engage in earnings management at the offer date. There is sufficienct evidence to suggest that firms that manage earnings at the offer date suffer poorer long-run performance.

Australian philanthropy

This study examines the discourses and practices of strategic forms of philanthropy. It investigates claims about the efficacy of strategic philanthropy through analysis of philanthropic practice in historical, sociological and public policy contexts.

Risk allocation in public-private partnership projects

Both the increasing private participation in public projects and the critical importance of appropriate risk allocation to the success of public-private partnership (PPP) projects justify specific research on the risk allocation practice in PPP projects, particularly whether the practice is value-for-money driven. In this paper, the risk allocation in construction projects is examined firstly. The risks associated with PPP projects and the concept of optimal risk allocation are then reviewed. More importantly, the risk allocation practice in PPP projects is examined, particularly in the Australian context. Important issues, such as the current practice, the governments' accountability, and achieving efficient allocation, are discussed. The discussion presented in this paper is expected to justify and elicit further research on how to achieve efficient risk allocation in PPP projects

Causality analysis between public capital and economic growth

Public capital has been considered to be the wheels of a nation's or a region's economic activity. The reverse effects, the contributions of economic growth to public capital, are also worth analysing. Non-structural
approaches in econometrics were implemented for the Australian economy using yearly data for the period from 1960 to 2008. A co-integration test was carried out to investigate whether tbere are long-term equilibrium relationships between each pair among public capital, private output, private capital and labour. Tbe Ganger causality test was further
employed to determine whether public capital contains useful information to predict a private production variable and vice versa. The results will provide historical evidence for Australia's federal and regional governments to assist in estimating the effects among these production variables, in particular, the effect of infrastructure spending on gross
domestic product.

Encouraging high expectation entrepreneurship : the implications of Australian policy practices

Recent studies have shown the important roles that new high growth firms can play in job creation and economic development. This paper reviews the positioning of present Australian government policies and programs that intend to be supportive of the development of more high growth businesses; that is those that employ greater than twenty persons. The research explores the environments of a group of new high growth Australian firms and the roles that the various identified government support initiatives have played in their development. The paper also draws on recent research on survival and growth patterns of spin-off companies generated by publicly funded research agencies to map the government support initiatives with the different stages of the high growth business life cycle. The paper reviews issues in the Australian business environment that may have affected the rate of generation of new high growth firms. Of particular relevance has been the progressive freeing up of the Australian labour market and a greater resource allocation to research commercialisation by publicly funded research providers. The analysis has finally separately considered how to produce and support more founders of such high growth firms, their future chief executive officers, the specialist consultants and other professional support people and issues related to access to finance that such firms will need. The research findings draw attention to the important role of government financial support for industry research, particularly at the point where the first product is in the market and resources are scarce. At this point support is vital both to increase the market penetration of the core product and for R&D for product customisation and increasing the product range.

Government involvement in entrepreneurship and new business creation in Australia : a quantitative analysis of public perceptions and opinions

In order to determine the range of Australian perceptions on new venture creation at the end of the decade of the 1980s, and in particular attitudes towards government involvement in fostering entrepreneurship, a major quantitative study was conducted. The survey involved more than 1500 Australians in face-to-face interviews (300 in each mainland capital city) chosen on a random basis.

An analysis of the data provides an assessment of the Australian general public&s perceptions in three key areas: their understanding of the word 'entrepreneur' their rating of importance of new venture creation; their belief in government involvement in fostering new venture creation.

It is believed to be the first study attempting to quantify an entire nation&s perceptions in three areas vital to creators of national economic and industry policies.

Finding and filling the gaps in the Australian governments' innovation and entrepreneurship support spectra

A national innovation system is concerned with the full process of converting new knowledge into commercially viable results. Governments are policy-active in trying to create productive national innovation systems. This paper reviews ways of thinking about entrepreneurship as the commercialisation component of Australia’s innovation system. The paper explores the impact and relevance of selected existing Australian Commonwealth, and to a lesser extent State government, programs for the commercialisation channels so identified, using four frameworks for the analysis: financial, management/start-up, innovation and entrepreneurial. The analysis indicates program initiatives covering the later development and commercialization phases, but serious gaps in the support available for the entrepreneurship phase involving the act of new entry. This gap is covered by research provider business development people and to a limited extent by incubator and State government initiatives. A critical issue has been and is access to smaller amounts of seed finance. The critical human component is the education of public servants and politicians about the nature and operation of entrepreneurship.

What can Australia learn from the Europeans about public participation? Article 6 of the Aarhus Convention and environmental impact statements

The United Nations Economic Commission for Europe Convention on Access to Information, Public Participation in Decision-Making and Access to Justice in Environmental Matters (Aarhus Convention) is the only international convention that is exclusively devoted to public participation in environmental matters. Although it is European in origin, much of the detail of the Convention draws upon national environmental legislation, including aspects of the Australian environmental legal system. This article compares the public review provisions relating to environmental impact statements in Australia with Art 6 of the Convention governing "Public Participation in Decisions on Specific Activities". The article finds that much of the Australian laws with some exceptions satisfy the minimum requirements of public participation in Art 6.

Re-conceptualizing disability and assistive technology : Australian consumers driving policy change

For people living with a disability, enablers such as assistive technologies, environmental modifications and personal care can make the difference between living fully and merely existing. This article is written from the standpoints of people with disabilities and professionals in one Australian State who found their government and service system to be a constraining rather than an enabling force. It presents two key components of policy and practice change in the area of assistive technology: challenging understandings of disability, assistive technology, and the desired life outcomes that assistive technology contributes to; and building a public evidence base through consumer-focussed research. In short, government funding of assistive technology needs to move beyond a limited focus on functional needs and take responsibility for fully equipping people to live the lives they aspire to.

Gender differences in personal, social and environmental influences on active travel to and from school for Australian adolescents

Active travel (walking or cycling for transport) is an important contributor to adolescents overall physical activity (PA). This study examines associations between personal, social and environmental variables and active travel to and from school using data from a large observational study to examine active travel in 2961 year 6 and 8 students (48.7% male), aged 10–14 years (M = 11.4, SD = 0.8 yrs) from 231 schools. Participants completed an on-line survey and all reported living within 2 km of school. Data collected included mode of travel to and from school, self-reported health, and PA variables. Social environmental variables included having playgrounds, parks or gyms close by, feeling safe to walk alone, barriers to walking in the neighbourhood (e.g. traffic, no footpaths), peer and family support for PA, existence of sports teams/scout groups, community disorder and perceived neighbourhood safety. Results showed that while more girls (44.3%) than boys (37.4%) walked to school, lower proportions rode bikes (8.3% vs 22.4%) and hence fewer were active travellers overall. Logistic regression models, adjusted for age, location and socio-economic status were conducted for active travel to/from school, separately for boys and girls. Predictors for boys and girls being ‘active travellers’ to/from school included recreational facilities close to home, higher perceived safety of the neighbourhood and higher community disorder. For boys, social support from friends, scout groups available and higher enjoyment of physical activity was also important. These findings suggest areas for future research and may be used to guide strategies to increase active travel to and from school.

Alternative water strategies in public domains : innovative strategies in progress along North Terrace, Adelaide

Water sensitive design on our urban threshold is increasingly becoming topical. In Adelaide it is being driven by stormwater management strategies and economic efficiencies in a city that is beginning to embrace its Mediterranean environment, low water sustainability, and whether our showpiece public domains in Adelaide can afford large expanses of manicured lawns.

This paper reviews four projects in progress along the North Terrace in Adelaide. The first involves a major redesign of First Creek as it traverses Adelaide Botanic Garden to address stormwater management issues. The redesign includes strategies to control flash flooding, to cleanse stream water from pollutants, and to carefully incorporate a wetland system as an integral botanical and horticultural feature of a botanic garden. Further down North Terrace, the University of Adelaide is evaluating a scenario that will totally redesign Goodman Crescent, its picture-postcard promenade lawn. The scenario is to host an integrated water retention and water purification and cleansing system that will service independently of mains water an irrigation system and a waterfall. The proposal draws upon a similar strategy recently adopted by the South Australian Museum to capture and cleanse surface and roof water but place the installation and process on display as part of its overall biodiversity museum display that will unfold over the next five years under director Tim Flannery. The fourth example, in process at present, is to devise an integrated water system that may enable the Government House grounds to remove itself from dependence upon costly mains water to totally sustain its extensive gardens and lawns.

Importantly each project has similar threads: creative water maximization and purification use, and a desire to place these ‘installations’ on display as public statements of their commitment to water sustainability in Adelaide. But radically, here are four prominent cultural institutions readily willing to redefine the notion and traditional visual imagery of a ‘wetland’ on what is the main cultural boulevard of a capital city.

The use of table and cooking salt in a sample of Australian adults

Dietary sodium, the major source being salt, is associated with hypertension. Australian adults consume more than the recommended amount of salt and approximately 15% of dietary sodium comes from salt added at the table and during cooking. Objective: To determine the frequency of and the demographic characteristics associated with discretionary salt use. Design: A cross sectional survey conducted in shopping centres within Metropolitan Melbourne. Participants completed a questionnaire assessing discretionary salt use and attitudes to salt intake. Outcomes: Four hundred and seventy four surveys were collected (65% female, 77% Caucasian, 64% holding a university qualification). Eighty nine percent of respondents were classified as salt users and 11% as non-salt users. Of the salt users 52% reported that they always or sometimes add salt during cooking and at the table. Those of Asian descent and younger respondents aged 18-24 years were more likely to be salt users (chi2=12.3, df=2, p<0.001; chi2=19.2, df=5, p<0.01). Conclusion: Discretionary salt use remains high. To successfully reduce population dietary salt intake public health campaigns are urgently required and need to include consumer advice to reduce discretionary salt use, whilst reducing the salt added to processed foods. Such campaigns should include younger age groups and should be appropriate for all ethnic backgrounds to raise the awareness of the risks of a high salt diet on health.