Publications

Chan, KK, McColough, D & Skully, M 1995, 'Australian Imputation Tax System and Dividend Reinvestment Plans' in Ghosh, DK & Khaksari, S (eds), Managerial Finance in the Corporate Economy, Routledge, UK, pp. 135-153.

Chan, KK, McColough, D & Skully, M 1995, 'Do Dividend Reinvestment Plans Add Value?' in Gray, PH (ed), Research in International Business and Finance Volume 11B, Studies in the Financial Markets of the P, JAI Press, US, pp. 121-138.

Wieder, B 1995, 'Die Erlösrechnung - ein Beitrag zur Weiterentwicklung der Deckungsbeitragsrechnung' in SEICHT Gerhard (ed), Jahrbuch für Controlling und Rechnungswensen '95, Orac, Vienna, Austria, pp. 223-258.
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Revenue Accounting - An Approach for Improved Contribution Costing

Arthur, N & Taylor, S 1995, 'Takeover Markets and Corporate Board Composition: Some further evidence', Corporate Governance: An International Review, vol. 3, no. 4, pp. 218-229.
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Bugeja, M & Walter, T 1995, 'AN EMPIRICAL ANALYSIS OF SOME DETERMINANTS OF THE TARGET SHAREHOLDER PREMIUM IN TAKEOVERS', Accounting & Finance, vol. 35, no. 2, pp. 33-60.
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While a considerable amount of research in Australia, the United States and elsewhere shows that takeovers create value for target shareholders, there is relatively little research investigating the explanations for cross-sectional differences in the size of the premium paid to target shareholders. This paper tests various arguments proposed to explain some of the sources of this premium. One such explanation is the removal of inefficient target management. Takeovers have been recognised as a mechanism that allows management teams to compete for the right to manage corporate assets. We test the associations between bidder and target managerial ownership (proxied by director's holdings), the prior performance of the bidder and target and the size of the premium paid to target shareholders. Other potential influences on the premium include a reduction in the agency costs of free cash flow and the provision of financial slack or reserve borrowing capacity to the target firm by the bidder. Using a sample of seventy-eight Australian takeovers occurring between 1981 and 1989 our tests indicate that the provision of financial slack to the target is associated with a significantly higher premium, while high bidder ownership results in a significantly lower premium. The premium is found to be positively related to the performance of the bidder in the period prior to the bid. The tests disclose an association between the agency costs of free cash flow and the target premium which is inconsistent with the theory, and reveal only weak evidence that the takeover premium is higher when inefficient target management is removed.

Clegg, S 1995, 'Book Reviews', Asia Pacific Business Review, vol. 2, no. 1, pp. 100-102.
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Clegg, SR 1995, 'Book Review', Theory, Culture & Society, vol. 12, no. 4, pp. 153-157.
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Clegg, SR 1995, 'Book Reviews', Asia Pacific Business Review, vol. 2, no. 2, pp. 103-105.
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Clegg, SR 1995, 'Parker's Mood1', Organization Studies, vol. 16, no. 4, pp. 565-571.
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Craswell, AT, Francis, JR & Taylor, SL 1995, 'Auditor brand name reputations and industry specializations', JOURNAL OF ACCOUNTING & ECONOMICS, vol. 20, no. 3, pp. 297-322.
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The development of both brand name reputation and industry specialization by Big 8 auditors is argued to be costly and therefore to increase audit fees. For a sample of 1484 Australian publicly listed companies we estimate audit fee premia for Big 8 auditors. On average, industry specialist Big 8 auditors earn a 34% premium over nonspecialist Big 8 auditors, and the Big 8 brand name premium over non-Big 8 auditors averages around 30%. These results support that industry expertise is a dimension of the demand for higher quality Big 8 audits and a basis for within Big 8 product differentiation.

Docherty, P 1995, 'Endogeneity in Wicksell’s Monetary Theory', History of Economics Review, vol. 23, no. 1, pp. 20-36.
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Forsyth, P, Dwyer, L & Clarke, H 1995, 'Problems in Use of Economic Instruments to Reduce Adverse Environmental Impacts of Tourism', Tourism Economics, vol. 1, no. 3, pp. 265-282.
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Economic instruments are often proposed as effective means of environmental control – as ways of achieving an efficient balance between environmental and other objectives. By imposing charges or quantitative restrictions, it is possible to achieve an optimal level of usage of resources which reflects environmental costs and the benefits to the users. This paper argues, however, that there are often significant limitations to using economic instruments, such as user pays, as a means of optimizing the environmental trade-offs which may be created by tourism, or as a means of minimizing the cost of meeting environmental constraints. The paper begins with an outline of some adverse environmental impacts of tourism. It then discusses the different instruments that might be used to control them and the criteria for choosing between them. The problems that may arise in using these instruments in tourism contexts are then examined. The paper concludes that while economic instruments may be appropriate in many situations, in some circumstances they will not be effective and other mechanisms, such as codes of environmental conduct, will play an important role in environmental protection.

GRUEN, DWR & MENZIES, GD 1995, 'Forward Discount Bias: Is it Near-Rationality in the Foreign Exchange Market?', Economic Record, vol. 71, no. 2, pp. 157-166.
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Lanis, R & Patel, C 1995, 'A case study of work related values in Ukraine: Implications for designing effective organizations', Ukrainian Economic Review, vol. 1, no. 1-2, pp. 64-79.

Larson, PD & Sinha, A 1995, 'The TQM Impact: A Study of Quality Managers' Perceptions', Quality Management Journal, vol. 2, no. 3, pp. 53-66.
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Lee, M & Maher, C 1995, 'Spinal Models', Physical Therapy, vol. 75, no. 7, pp. 638-641.
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Lee, M, Kelly, DW & Steven, GP 1995, 'A model of spine, ribcage and pelvic responses to a specific lumbar manipulative force in relaxed subjects', Journal of Biomechanics, vol. 28, no. 11, pp. 1403-1408.
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One class of manipulative techniques commonly used during assessment and treatment of spinal disorders involves the patient lying face down while the therapist slowly applies a posteroanterior force to a selected vertebra. The aim of this investigation was to develop a model which was capable of predicting the vertebral displacements resulting from such a manipulative force, applied to the lumbar spine. A linear three-dimensional finite element model was generated using both previously published and original data to define the geometry and material properties. The complete model included the ribcage, thoraco-lumbar spine and pelvis with their associated soft tissues. The model simulated the relaxed state in a normal subject so the muscle forces were assumed to be negligible. Sensitivity analysis suggested that if the model was to be used to simulate the behaviour of individual subjects, then the model dimensions and pelvic constraints should be matched to the particular subject. The model validity was studied by comparing the predicted responses with those that have been observed in living human subjects. The model predictions were found to be in good agreement with the mean observed human responses, with predicted displacements being within one standard deviation of the mean observed values. This agreement suggests that the model is useful for predicting the linear region responses to slowly applied lumbar posteroanterior forces. The simulations predicted that appreciable global vertebral displacements (up to 1.5 mm) and rotations (up to 1°) occurred as far away as the middle and lower thoracic spine during low lumbar loading. Intervertebral translations were predicted to be 1 mm or more at up to four intervertebral jonts away from the point of load application. Variation of direction of applied force was predicted to have small effects on displacement responses compared with loading at different lumbar levels. © 1995.

Matolcsy, ZP & Pazmandy, GP 1995, 'Predicting Half-Yearly Accounting Income Numbers With Statistical Models', Australian Accounting Review, vol. 5, no. 10, pp. 56-63.
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Prediction of half-yearly accounting income numbers has an important role in investment analysis, credit ratings, budgeting, auditing and other areas of the accounting and finance profession. This study provides the Australian evidence on two issues: the statistical relationship between half-yearly accounting income numbers such as earnings per share, net profit and sales; and the ability of statistical models to predict these numbers. The study finds that the best way to predict the next period's half-yearly accounting income numbers is to use the immediately preceding half-yearly income number, and for inflation-adjusted sales the corresponding previous half-yearly figures, or to use a statistical model based on the immediately preceding half-yearly figure adjusted by a statistically based "smoothing constant".

MENZIES, G 1995, 'CAN ALTRUISM AID THE JOBS COMPACT?', Economic Papers: A journal of applied economics and policy, vol. 14, no. 2, pp. 11-16.
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Onyx, J & Maclean, M 1995, 'CAREER PROGRESSION IN THE COMMUNITY SECTOR', Australian Journal of Social Issues, vol. 30, no. 1, pp. 55-70.
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This article presents the results of preliminary research into the nature of career progression within the community sector in NSW, using a supply-side analysis and drawing on the experience of 200 community sector workers over the past 10 years. Contrar

Onyx, J, Leonard, R & Vivekananda, K 1995, 'Social Perception of Power: A Gender Analysis', Perceptual and Motor Skills, vol. 80, no. 1, pp. 291-296.
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A 2×2 factorial design using an open-ended response format examined the social perception of power in terms of the gender of the powerful person and gender of the perceiver. There were 125 men and 140 women, drawn from a variety of university courses (business, leisure studies, communication, humanities). With limited background information provided, women in powerful positions were generally perceived more favourably than men. Powerful women were described more positively by women than by men. The results are discussed in terms of a cultural shift in definitions of leadership and of appropriate role behavior by women.

POLONSKY, MJ & WALLER, DS 1995, 'DOES WINNING ADVERTISING AWARDS PAY - THE AUSTRALIAN EXPERIENCE', JOURNAL OF ADVERTISING RESEARCH, vol. 35, no. 1, pp. 25-35.

Vetlesen, AJ, Hills, H, Bell, V, Jenkins, R, Turner, BS, Craib, I, Acourt, P, Clegg, S, Somerville, J, Hunt, P, VanEvery, J, Deverell, K, Cattell, V, Pahl, RE, Bagguley, P, Kahveci, E, Rapport, N, Binns, C, Robins, D, Tester, K, Markus, TA & Horne, J 1995, 'Book Reviews: Postmodern Ethics, Baroque Reason: The Aesthetics of Modernity, Foucault's New Domains, Sociology in Question, Max Weber's Comparative Historical Sociology, Psychoanalytic Theory: An Introduction, the Art of Conversation, Understanding Social Theory, Motherhood and Modernity: An Investigation into the Rational Dimension of Mothering, Friendly Relations? Mothers and Their Daughters-in-Law, Single Women: On the Margins?, Erotics and Politics: Gay Male Sexuality, Masculinity and Feminism, Understanding Poverty, Social Change and the Experience of Unemployment, Dangerous Classes: The Underclass and Social Citizenship, Masters and Servants: Class and Patronage in the Making of a Labour Organisation, inside European Identities: Ethnography in Western Europe, Soviet Nationality Policy, Urban Growth and Identity Change in the Ukrainian SSR 1923–34, Football, Violence and Social Identity, Natural Relations. Ecology, Animal Rights and Social Justice, the Most Solitary of Afflictions: Madness and Society in Britain 1700–1900, Time and Money: The Making of Consumer Culture', The Sociological Review, vol. 43, no. 1, pp. 170-223.
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Viner, A & Lee, M 1995, 'Direction of manual force applied during assessment of stiffness in the lumbosacral spine.', J Manipulative Physiol Ther, vol. 18, no. 7, pp. 441-447.
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OBJECTIVE: To measure the angle of applied manual force during assessment of posteroanterior stiffness in the lumbosacral spine. DESIGN: Ten physiotherapists with bachelor's degrees in physiotherapy and postgraduate qualifications in manipulative physiotherapy assessed stiffness at 6 lumbosacral vertebral levels in a controlled order. Two pain free subjects acted as patients. SETTING: A university biomechanics laboratory. INTERVENTIONS: None. MAIN OUTCOME MEASURES: Applied force vector angles in the sagittal plane. RESULTS: The physiotherapists all varied the direction of the force they applied so that it was directed slightly toward the feet at the lower vertebral levels and more toward the head as they moved up the spine. There was a significant difference between the direction of the applied force vector angles at each vertebral level (p < .0001). The direction of force used was also significantly different for the two patients (p = .0067). The forces used by the physiotherapists were applied in directions more vertical than if forces had been applied in directions perpendicular to the surface curves of the two patients. CONCLUSION: The direction of the force applied by the physiotherapists in this study when assessing posteroanterior stiffness varied significantly between vertebral levels and seemed to take into account the individual shape of the lumbosacral curve of each patient.

Young, L & Denize, S 1995, 'A concept of commitment: alternative views of relational continuityin business service relationships', Journal of Business & Industrial Marketing, vol. 10, no. 5, pp. 22-37.
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Explores the role of commitment in maintaining relationship bonds even when the level of satisfaction with specific transactions is low. A strong relationship can exist between these professional service providers and their clients even when participants do not feel positive about their interactions. A study of the factors which influence accountant choice and switching behavior shows a great reluctance by clients to alter the existing client/accountant relationship. Accountants′ clients are often unwilling to explore alternative service options even if dissatisfied. A number of different bases of commitment emerge from analysis of both the factors which might lead to a change in accountant and attitudes towards the current provider.

Lim, S 1970, 'The political costs of firms subjected to a prices surveillance regime', University of Melbourne, Melbourne.

Lim, S 1970, 'The political costs of firms subjected to regulatory processes: A longitudinal and cross-sectional investigation', University of Queensland, Toowoomba.

Lim, S 1970, 'The political costs of firms subjected to regulatory processes: A longitudinal and cross-sectional investigation', University of Western Australia, Perth.

Harris, R & Leiper, N 1995, 'Sustainable Tourism An Australian Perspective'.