Richardson, G & Lanis, R 1998, 'The influence of culture on tax administration practices' in Evans, C & Greenbaum, A (eds), Tax Administration: Facing the Challenges of the Future, Prospect Media Pty Ltd, NSW, Australia, pp. 231-247.
Wieder, B 1998, 'Public Sector Accounting Standards - Möglichkeiten und Grenzen der Anwendung privatwirtschaftlicher Rechnungslegungsstandards im öffentlichen Sektor - Erfahrungen aus Australien' in SEICHT Gerhard (ed), Jahrbuch für Controlling und Rechnungswensen '98, Orac, Vienna, Austria, pp. 115-160.
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Public Sector Accounting Standards - Pros and Cons of an Application of Private Accounting Standards in the Public Sector - Experiences from Australia
Brown, PR, Taylor, SL & Walter, TS 1998, 'The Impact of Statutory Sanctions on the Level and Information Content of Voluntary Corporate Disclosure', Abacus, vol. 35, no. 2, pp. 138-162.
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This article examines the effect of statutory civil and criminal sanctions on voluntary corporate disclosures by firms listed on the Australian Stock Exchange (ASX). Apart from direct investigation of the quantity of voluntary disclosure, we also investigate several possible consequences of altered corporate disclosure policies, namely properties of analysts’ forecasts, the degree to which share prices anticipate the information content of periodic earnings reports, and the relationship between volatility and corporate disclosures. Results suggest that, post-sanctions, any increase in voluntary disclosure is confined to smaller firms and those which performed relatively poorly. Moreover, analysts’ earnings forecasts did not become more accurate or less diverse following the introduction of statutory sanctions, and there was no statistically significant increase in the weight placed on each disclosure’s ability to explain return volatility. There is some evidence that share prices have anticipated earlier the value relevant components of annual periodic accounting data, although this result is again confined to smaller firms. Although the tests used are not independent and have a limited time period post-sanctions, the results cast doubt on the extent to which the imposition of substantive civil or criminal sanctions affects corporate disclosure policy. © 1999 Blackwell Publishers Ltd.
Izan, HY, Sidhu, B & Taylor, S 1998, 'Does CEO Pay Reflect Performance? Some Australian Evidence', Corporate Governance: An International Review, vol. 6, no. 1, pp. 39-47.
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We examine the relation between Australian CEO pay and accounting and share price performance indicators, as well as firm size, from 1987 to 1992 inclusive. Our results show no evidence of a linkage between CEO pay and performance. This finding is robust to the use of single year or pooled tests, as well as the specific identification of CEO changes. “Long window” analysis of the pay‐performance relation yields similar results. Possible explanations include incomplete disclosure of CEO compensation, the influence of other claimholders (e.g., debtholders), the existence of alternative monitoring mechanisms and the extent to which CEO compensation is effectively deferred. However, subject to these possibilities, our results can be interpreted as consistent with allegations that Australian CEOs have had, by international standards, a relatively small proportion of total compensation “at risk”.
Taylor, SL & Whittred, GP 1998, 'Security Design and the Allocation of Voting Rights: Evidence from the IPO Market', Journal of Corporate Finance, vol. 4, pp. 107-131.
Wieder, B 1998, 'Management Accounting for Marketing Decisions', Journal fur Betriebswirtschaft, vol. 5, no. 6, pp. 220-241.
