Publications

Campbell, F, White, A & Warren, V 2016, Cloud 9 Ltd II: An Audit Case Study, Canadian Edition, Wiley, Fiona.
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This case study book is designed to provide students with the opportunity to work through various audit procedures that are performed during the planning and interim phases of a financial statement audit. Typical client scenarios that are regularly observed in the profession are the basis for this case study, and the aim is to expose students to the tasks they would typically perform in their first year of auditing practice.

Coulton, J, Ribeiro, A, Shan, Y & Taylor, S 2016, The RISE and RISE of NON-GAAP DISCLOSURE A Survey of Australian Practice and Its Implications.

Pazmandy, GP 2016, Develop and Use Complex Spreadsheets, Tekniks Publications Pty Limited, Sydney, Australia.
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Developing quantitative decision models using Microsoft Excel Spreadsheet productivity software.

Beaumont, S, Ratiu, R, Reeb, D, Boyle, G, Brown, P, Szimayer, A, da Silva Rosa, R, Hillier, D, McColgan, P, Tsekeris, A, Howieson, B, Matolcsy, Z, Spiropoulos, H, Roberts, J, Smith, T, Zhou, Q, Swan, PL, Taylor, S, Wright, S & Yermack, D 2016, 'Comments on Shan and Walter: ‘Towards a Set of Design Principles for Executive Compensation Contracts’', Abacus, vol. 52, no. 4, pp. 685-771.
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Bugeja, M, da Silva Rosa, R, Izan, HY & Ngan, S 2016, 'To Scheme or Bid? Choice of Takeover Method and Impact on Premium', Australian Journal of Management, vol. 41, no. 2, pp. 212-243.
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In recent years there has been an increasing use of members’ schemes of arrangement to bring about a change in corporate control. This increasing use of schemes has been criticised in public quarters on the basis that unlike takeovers, schemes are not subject to the Eggleston principles and have arguably led to target shareholders receiving lower offer prices. This study provides the first large-sample empirical evidence on differences between schemes and takeovers. We find that the likelihood of the use of schemes significantly increases when target firm ownership concentration is higher and when the bidder has a lower toehold. Scheme usage is also more likely for larger targets and bidders with higher leverage. Consistent with public criticisms of schemes, we find that after controlling for self-selection premiums in schemes are significantly lower than those in takeovers.

Bugeja, M, Fohn, S & Matolcsy, Z 2016, 'Determinants of the Levels and Changes in Non‐Executive Director Compensation', Accounting & Finance, vol. 56, no. 3, pp. 627-667.
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Bugeja, M, Matolcsy, Z & Spiropoulos, H 2016, 'The Association Between Gender-Diverse Compensation Committees and CEO Compensation', JOURNAL OF BUSINESS ETHICS, vol. 139, no. 2, pp. 375-390.
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© 2015, Springer Science+Business Media Dordrecht. We examine the association between gender-diverse compensation committees and CEO pay and find that CEO compensation levels are negatively associated with gender-diversity of the compensation committee, but not gender-diversity of the board. Furthermore, we find that excess CEO compensation is negatively related to subsequent return on assets for firms with an all-male compensation committee but not for firms with a gender-diverse compensation committee. These results suggest that CEOs do receive some level of excess compensation which can be mitigated by having one or more females on the compensation committee.

Feigin, A, Ferguson, A, Grosse, M & Scott, T 2016, 'Evidence on why firms use different disclosure outlets', Accounting Research Journal, vol. 29, no. 3, pp. 274-291.
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PurposeThe purpose of this study is to consider why firms use different disclosure outlets. The authors argue that the firm's choice of disclosure outlet can be explained by voluntary disclosure theories and investigate whether the market response around different disclosure outlets varies.Design/methodology/approachThe authors investigate differences in the characteristics of firms purchasing analyst research, holding investor presentations or Open Briefings and compare market reactions around each disclosure event.FindingsThe authors find that firm incentives to reduce information acquisition costs or mitigate disclosure risk affect firm disclosure outlet choice, and mixed evidence in support of talent signalling motivations. There is a lower absolute abnormal return around Open Briefings and a higher signed abnormal return around purchased analyst research.Research limitations/implicationsThe research is exploratory in nature and only considers a small subset of disclosure outlets. There may be differences in information content across disclosure outlets.Originality/valueThey show disclosure outlets are not homogenous and provide empirical evidence voluntary disclosure theories help explain differences between firms’ use of disclosure outlets. Considering the growing number of disclosure outlets available, disclosure outlet choice is likely to be an increasingly important topic in accounting research.

Ferguson, A & Lam, P 2016, 'Government policy uncertainty and stock prices: The case of Australia's uranium industry', Energy Economics, vol. 60, pp. 97-111.
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© 2016 Elsevier B.V. We investigate effects of government policy uncertainty on stock prices, reflecting tension between ‘private interest’ (economic benefits) and ‘public interest’ arguments over uranium mining. Using a sample of Australian-listed uranium firms from January 2005 through June 2008, we document a positive contemporaneous correlation between stock returns and volatility and two measures of government policy uncertainty, proxied by the spread in voters’ opinion polls between the two major political parties and a news-based sentiment index. Event-study results show significant stock price reactions to key uranium-related policy events, with cross-sectional variation in event returns predicted by models incorporating firm- and project-level characteristics. Our research design and findings may inform future research on the capital market effects of government policy uncertainty in other regulated industries.

Ferguson, A & Scott, T 2016, 'The determinants and market reaction to Open Briefings: an investor relations option and evidence on the effectiveness of disclosure', Accounting & Finance, vol. 56, no. 3, pp. 803-843.
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AbstractOpen Briefings are market announcements styled as question and answer transcripts from a mock analyst interview and run by Orient Capital, an investor relations consultant. We found that Open Briefings are used by both growth and mature firms, and that Open Briefings are significant market events at both the daily and intraday level. In addition, the positive abnormal return does not soon reverse, suggesting Open Briefings are used by investors. We contribute to the existing literature by finding a stronger market reaction for firms with greater incentives to increase market awareness.

Frawley, JK, Dyson, LE, Wakefield, J & Tyler, J 2016, 'Supporting Graduate Attribute Development in Introductory Accounting with Student-Generated Screencasts', International Journal of Mobile and Blended Learning (IJMBL), vol. 8, no. 3, pp. 65-82.
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In recent years educational, industry and government bodies have placed increasing emphasis on the need to better support the development of “soft” skills or graduate attributes within higher education. This paper details the adoption of a student-generated multimedia screencast assignment that was found to address this need. Implemented within a large introductory accounting subject, this optional assignment allowed undergraduate students to design, develop and record a screencast so as to explain a key accounting concept to their peers. This paper reports on the trial, evaluation and redesign of this assignment. Drawing on data from student surveys, practitioner reflections and descriptive analysis of the screencasts themselves, this paper demonstrates the ways that the assignment contributed to the development and expression of a number of graduate attributes. These included the students' skills in multimedia, creativity, teamwork and self-directed learning. Adopting free-to-use software and providing a fun and different way of learning accounting, this novel approach constitutes a sustainable and readily replicable way of supporting graduate attribute development. This paper contributes understandings that will be relevant to both researchers and practitioners.

Giacobbe, F, Matolcsy, Z & Wakefield, J 2016, 'An investigation of wholly-owned foreign subsidiary control through transaction cost economics theory', Accounting and Finance, vol. 56, no. 4, pp. 1041-1070.
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This paper investigates the management control systems used by multinational corporation headquarters to control wholly-owned foreign subsidiaries. Our theory development is based on transaction cost economics. First, we conduct a series of exploratory interviews, providing an insight into the context, and second, we provide empirical evidence based on cross-sectional survey data. Our results indicate that activity traits (uncertainty, asset specificity and post hoc information impactedness) have significant implications on control choices, in particular the control archetype combinations chosen by headquarters, although not all results are consistent with theory predictions. Our findings are supported by extensive alternative testing.

He, W & Shan, Y 2016, 'International Evidence on the Matching Between Revenues and Expenses', Contemporary Accounting Research, vol. 33, no. 3, pp. 1267-1297.
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AbstractThis study investigates the time‐series trend and determinants of matching between revenues and expenses in a sample of 42 countries. We find that the decline in matching documented by Dichev and Tang () is not unique to the United States, but is a worldwide phenomenon. Our results show that matching is weaker in countries with (i) wider use of accrual accounting; (ii) a larger proportion of firms reporting significant special items; (iii) slower economic growth; (iv) more research and development activities; (v) larger service sectors; and (vi) stronger investor protection. We find no evidence that mandatory adoption of International Financial Reporting Standards affects matching. Changes in accounting and economic factors collectively explain the downward trend in matching. Overall, the results suggest that both accounting and economic factors are important determinants of matching over time and across countries.

Lam, P & Chan, K 2016, 'Long-run performance of backdoor-listed firms', JASSA, no. 2, pp. 6-17.
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We examine the long-run performance of a sample of firms going public through backdoor listing on the ASX during the 1994−2013 period. When benchmarked with a control sample of IPOs, backdoor-listed firms underperformed in the aftermarket. Over the three years after listing, they raised less equity capital and were less profitable and more financially distressed than their IPO counterparts. They also performed poorly in terms of buy-and-hold returns against the matched IPO firms and broad-based market indices. Our results tend to corroborate findings in the US and Canada but are inconsistent with their assertion that lax regulatory oversight is the major cause of underperformance since Australian backdoor listings have to comply with essentially the same listing requirements as IPOs.

Lanis, R & Richardson, G 2016, 'A Reply to Corporate Social Responsibility and Tax Aggressiveness: A Test of Legitimacy Theory', Social and Environmental Accountability Journal, vol. 36, no. 1, pp. 90-92.
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Loyeung, A, Matolcsy, Z, Weber, J & Wells, PA 2016, 'The Cost of Implementing New Accounting Standards: The Case of IFRS Adoption in Australia', Australian Journal of Management, vol. 41, no. 4, pp. 611-632.
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© 2016, © The Author(s) 2016. This article examines the implementation errors that are made when accounting standards are implemented for the first time. Focusing on the transition to the International Financial Reporting Standards (IFRS), we provide evidence on the causes of these errors as well as the economic consequences of disclosing these errors. We find that the quality of both the chief financial officers (CFOs) and the auditors are associated with less implementation errors. We also find that there is a learning process as later adopters of IFRS report less errors compared to early adopters in the financial reporting cycle. In terms of the consequences of disclosing these errors, we find that firms reporting more implementation errors experience an increase in information asymmetry when these errors become known to market participants. Furthermore, we find a positive association between implementation errors and increases in audit fees when the implementation errors are disclosed. Our results are robust with respect to a number of sensitivity tests.

Peters, MD, Wieder, B, Sutton, SG & Wakefield, J 2016, 'Business intelligence systems use in performance measurement capabilities: Implications for enhanced competitive advantage', INTERNATIONAL JOURNAL OF ACCOUNTING INFORMATION SYSTEMS, vol. 21, pp. 1-17.
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© 2015 Elsevier Inc. The purpose of this study is to better understand how the quality of a Business Intelligence (BI) system improves the diagnostic and interactive dimensions of management control systems (MCS), thereby enhancing performance measurement capabilities, which in turn are positively associated with competitive advantage. Integrating theory from performance measurement, organizational learning and the knowledge-based view of the firm, a theoretical model is developed that considers three concepts of BI quality (infrastructure integration, functionality, and self-service) and the roles they play in enhancing diagnostic and interactive performance measurement capabilities. Data collected via survey from 324 CEOs and CFOs provides support for the theorized effects of BI quality on performance measurement capabilities. These capabilities in turn are positively associated with competitive advantage.

Richardson, G, Taylor, G & Lanis, R 2016, 'Women on the board of directors and corporate tax aggressiveness in Australia: An empirical analysis', Accounting Research Journal, vol. 29, no. 3, pp. 313-331.
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Purpose - This paper aims to investigate the impact of women on the board of directors on corporate tax avoidance in Australia. Design/methodology/approach - The authors use multivariate regression analysis to test the association between the presence of female directors on the board and tax aggressiveness. They also test for self-selection bias in the regression model by using the two-stage Heckman procedure. Findings - This paper finds that relative to there being one female board member, high (i.e. greater than one member) female presence on the board of directors reduces the likelihood of tax aggressiveness. The results are robust after controlling for self-selection bias and using several alternative measures of tax aggressiveness. Research limitations/implications - This study extends the extant literature on corporate governance and tax aggressiveness. This study is subject to several caveats. First, the sample is restricted to publicly listed Australian firms. Second, this study only examines the issue of women on the board of directors and tax aggressiveness in the context of Australia. Practical implications - This research is timely, as there has been increased pressure by government bodies in Australia and globally to develop policies to increase female representation on the board of directors. Originality/value - This study is the first to provide empirical evidence concerning the association between the presence of women on the board of directors and tax aggressiveness.

Shan, Y & Walter, T 2016, 'Responses and Rejoinders to Commentaries', Abacus, vol. 52, no. 4, pp. 772-780.
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Shan, Y & Walter, TS 2016, 'Towards a Set of Design Principles for Executive Compensation Contracts', Abacus, vol. 52, no. 4, pp. 619-684.
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Sudhakar, A, Tyler, J & Wakefield, J 2016, 'Enhancing Student Experience and Performance through Peer-Assisted Learning', Issues in Accounting Education, vol. 31, no. 3, pp. 321-336.
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ABSTRACTThis study examines the effectiveness of an online peer review forum (forum). The study allows comparisons to be made between different forum scenarios. The forum was introduced, over a series of semesters, in a first-year accounting screencast assignment: from no forum, to an optional forum, to a compulsory forum. Students indicated that the compulsory forum, underpinned by more structured guidelines for providing feedback, was more beneficial in facilitating improvement in their assignment quality and learning outcomes. We observed improved student performance where a forum was made available. This result is stronger where the use of the forum was optional relative to where it was compulsory. We surmise that this was caused by a higher proportion of exemplar screencasts being posted by more motivated and confident students in the optional forum, creating higher perceived expectations across the total student population. Our findings suggest that more structured feedback through the forum does not necessarily lead to higher performance, even though students value more structured constructive and critical comments as part of their learning experience. These findings highlight the importance of carefully considering forum design and assessment guidelines when embarking on peer review learning initiatives.

Sutton, NC & Brown, DA 2016, 'The illusion of no control: management control systems facilitating autonomous motivation in university research', ACCOUNTING AND FINANCE, vol. 56, no. 2, pp. 577-604.
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© 2016 AFAANZ. Autonomous motivation, a fundamental factor influencing research success, can be undermined when people feel pressured, managed or controlled. So how do universities - which are under increasing external pressure to manage research activities to produce outcomes - exert management control without threatening the autonomous motivation of their researchers? We address this question through an exploratory case study of the management control systems used in two university faculties. Our results confirm the importance of autonomous motivation in driving researchers' activity and show how incentives, performance evaluation and cultural-administrative structures can be designed to not only preserve, but also enhance and leverage this motivation.

Bhimani, A, Sivabalan, P, Soonawalla, K & Wakefield, J 1970, 'Beyond Budgeting adoption challenges - an analysis of operating and strategic tensions through the rolling budget', Monforma Conference, Sofitel, Melbourne.

Bisbe, J, Bedford, DS & Sweeney, B 1970, 'How Performance Measurement Systems help firms achieve Intended Ambidexterity: The role of Cognitive Conflict', 39th Annual Congress of the European Accounting Association, Maastricht, Netherlands.

Bugeja, M, Ghannam, S, Matolcsy, ZP & Spiropoulos, H 1970, 'Who joins a sinking ship and why? Some evidence on independent directors who join fraudulent firms.', AAA - Annual Meeting and Conference, American Accounting Association, New York.

Bugeja, M, Govendir, B, Matolcsy, Z & Pazmandy, GP 1970, 'Is There an Association between Vice Chancellors' (University Presidents') Compensation and University Rankings in Australia?', AAA - Annual Meeting and Conference, American Accounting Association, New York.

Christodoulou, D, Lev, B & Ma, L 1970, 'Innovation-driven Performance in China: Truth or Fiction', China Studies Centre Seminar Series, University of Sydney China Studies Centre, Sydney, Australia.

Christodoulou, D, Lev, B & Ma, L 1970, 'Innovation-driven Performance in China: Truth or Fiction', The 9th Methodological and Empirical Advances in Financial Analysis (MEAFA) Research Meeting, University of Sydney, Sydney, Australia.

Christodoulou, D, Lev, B & Ma, L 1970, 'Innovation-driven Performance in China: Truth or Fiction', The 28th Asian-Pacific Conference on International Accounting Issues, Hawaii, US.

Christodoulou, D, Lev, B & Ma, L 1970, ''The Effectiveness of Innovation-Oriented Government Policy: the Case of China', The 28th Annual Conference of Chinese Economics Society of Australia, James Cook University, Cairns, Australia.

Christodoulou, D, Lev, B & Ma, L 1970, 'The Effectiveness of Innovation-Oriented Government Policy: the Case of China', The 9th Annual Conference of the Academy of Innovation and Entrepreneurship, Sydney, Australia.

Christodoulou, D, Ma, L & Mostafavi, H 1970, 'Getpatent: Web Scraping Patent Data into Stata', 2016 Oceania Stata Users Group Meeting, Sydney, Australia.

Christodoulou, D, Ma, L & Vasnev, A 1970, 'Estimation Bias in Residuals: An Analysis in the Context of Earnings Management literature', UTS/SMU/UNSW Accounting Conference, Sydney, Australia.

Christodoulou, D, Ma, L & Vasnev, A 1970, 'Estimation Bias in Residuals: An Analysis in the Context of Earnings Management literature', Newcastle University Business School Conference, Sydney, Australia.

Ferguson, A, Lam, H & Ma, N 1970, 'Is Mandatory Partner Rotation Associated With Increased Audit Fees?', 2016 AFAANZ Conference, Jupiters Hotel, Gold Coast, Queensland, Australia:.

Ghannam, S, Bugeja, M, Matolcsy, ZP & Spiropoulos, H 1970, 'Who joins a sinking ship and why? Some evidence on independent directors who join fraudulent firms', •28th Australasian Finance and Banking Conference (AFBC).

Ghannam, S, Bugeja, M, Matolcsy, ZP & Spiropoulos, H 1970, 'Who joins a sinking ship and why? Some evidence on independent directors who join fraudulent firms', British Accounting & Finance Association Annual Conference.

Govendir, B, Lanis, R, McClure, R & Wells, P 1970, 'The Effect of Dividend Imputation on Corporate Tax Aggressiveness', AAA - Annual Meeting and Conference, AAA - Annual Meeting and Conference, American Accounting Association, New York.

Govendir, B, Matolcsy, Z, Bugeja, M & Pazmandy, G 1970, 'Is There an Association between Vice Chancellors' (University Presidents') Compensation and University Rankings in Australia?', European Accounting Association, Maastricht, Netherlands.

Grosse, MJ & Scott, T 1970, 'Pricing Initial Engagements and Interim Reviews', 14th Annual ANCAAR Audit Research Forum, Australian National University.

Grosse, MJ & Scott, T 1970, 'The Information Content of Interim Reviews: Do Interim Going Concern Opinions Provide an Early Warning?', Accounting and Finance Association of Australia and New Zealand Conference, Gold Coast.

Grosse, MJ, Ma, N & Scott, T 1970, 'Evidence on compensation consultant fees and CEO pay in a mandatory disclosure setting', UTS/SMU/UNSW Accounting Research Conference, University of Technology Sydney.

Loyeung, AL, bond & czernkowski 1970, 'Market reaction to Non-GAAP Earnings around SEC regulation', European Accounting Association (EAA), Maastritcht, Netherlands.

Ossimitz, M, Wieder, B & Chapman, P 1970, 'Management Accounting Functionality in SAP Solutions – Implications for Research and Practise', International Conference on Enterprise Systems, Accounting and Logistics (ICESAL) 2016, Athens.
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Since the start of the new millennium, management accounting researchers have investigated how Enterprise Resource Planning systems (ERPS) or the implementation of such systems influences management accounting (practises) and/or firm performance. More recently, the empirical focus of such studies has shifted towards the SAP ERPS, the world-market leading enterprise system (Columbus, 2014). Despite this focus, none of these studies has ever described the management accounting functionalities of SAP ERP, let alone acknowledging that, over the past decade, SAP has substantially expanded its solution range for management accounting, in particular with the acquisition of BusinessObjects in 2007. Today, management accounting functionalities are dispersed across a wide range of SAP ‘solutions’ beyond the core SAP ERP, including cloud solutions, and even for SAP customers it is difficult to reconcile which software component contributes the various ‘solution for management accounting’. We argue that research on the impacts of such systems on management accounting practises and performance requires a detailed understanding of the management accounting functionality provided by such systems – across all modules and add-on components.Our archival and expert-interview based study aims to provide such insights by systematically analysing the current SAP software solutions range to locate management accounting tools and to map those tools with the broader body of knowledge of management accounting practises. Key findings of our study are that the SAP software range provides support for almost all common management accounting practises and that for some of these practises SAP users are provided with a range of tools providing similar functionality (e.g. SAP SEM, SAP Strategy Management, and SAP BusinessObjects Strategy Management). Further to that, the SAP software range provides management accounting functionalities such as “Grenzplankostenrechnung” (GPK), which...

Scott, T & Grosse, MJ 1970, 'Pricing Initial Engagements and Interim Reviews', AFAANZ Conference, Gold Coast.

Spiropoulos, H, Bugeja, M & Matolcsy, Z 1970, 'Alternative Explanations of the CEO Pay Slice and Some of Its Economic Consequences', JCAE Symposium, Chulalongkorn University, Bangkok, Thailand.

Spiropoulos, H, Bugeja, M, Matolcsy, Z & Ghannam, S 1970, 'Who joins a sinking ship and why? Some evidence on independent directors who join fraudulent firms', EAA - European Accounting Association Annual Congress, Maastricht, Netherlands.

Spiropoulos, H, Bugeja, M, Matolcsy, Z & Ghannam, S 1970, 'Who joins a sinking ship and why? Some evidence on independent directors who join fraudulent firms', World Finance Conference, New York, US.

Sutton, NC & Brown, DA 1970, 'Extending the decision to ‘ally’: the inter-dependencies between hybrid governance structure and inter-firm management control systems', British Accounting and Finance Association Annual Conference, British Accounting and Finance Association Annual Conference, Bath, U.K..

Sutton, NC & Brown, DA 1970, 'Studying MCS package design through managers’ incremental control choices', MONFORMA, MONFORMA, Melbourne, Australia.

Wakefield, J, Tyler, J, Dyson, L & Frawley, J 1970, 'Implications of Tablet Computing Annotation and Sharing Technology on Student Learning', American Accounting Association Annual Meeting, New York.

Wakefield, JA, Tyler, J, Dyson, L & Frawley, J 1970, 'Implications of tablet computing enabled sharing and annotation technology on introductory accounting student performance', AFAANZ, Gold Coast.

White, AW & Ma, N 1970, 'Work integrated learning: preparing students for graduate recruitment using a video interview assessment task', RMIT Accounting Educators Conference 2016, Swanston Academic Building, Level 11, Melbourne.

Peters, M, Wieder, B, Booth, P & Wakefield, J CIMA and UTS 2016, How Management Accounting Teams can Effectively Support Superior Performance Measurement Practices, Sydney Australia.

Pham, H Cotton Research and Development Corporation (CRDC). 2016, Integrated Sustainable Management System: Environmental Performance Measurement Systems for Cotton Growers Australian Cotton., Cotton Research and Development Corporation (CRDC)..

Pham, H, Brown, P, Bajada, C, Ghannam, S & Chia, C UTS 2016, The value of an Algae based bio-economy in NSW: Preliminary findings., UTS Report.

Gibson, A, Knight, S, Aitken, A, Buckingham Shum, S, Ryan, P, Jarvis, W, Nikolova, N, Tsingos-Lucas, C, Parr, A, White, A & Sutton, N 2016, 'Using Writing Analytics For Formative Feedback'.

Gibson, A, Knight, S, Aitken, A, Buckingham Shum, S, Ryan, P, Jarvis, W, Nikolova, N, Tsingos-Lucas, C, Parr, A, White, A, Sutton, N & Tsingos-Lucas, C 2016, 'Using Writing Analytics For Formative Feedback'.