Australian Journal of Management back issues from December 2006:
There's no such thing as free lunch.(Editorial)(popular saying by Milton Friedman )(Editorial)
Dec 01, 2006; ... 'There's no such thing as a free lunch.' Many of the obituaries and encomiums published in the days since the death of Milton Friedman in November have wrongly made the claim that he coined the phrase. There is no doubt that he, together with science fiction writer Robert Heinlein (1966) ...
Special issue--delegated portfolio management.(EDITORIAL)(Australian Journal of Management )(Editorial)
Dec 01, 2006 ... The General Editor and Deputy Editor of the Australian Journal of Management (AJM) are pleased to announce a special issue in the area of Delegated Portfolio Management, to be published at the beginning of calendar year 2008. The special issue will be jointly edited by Professor ...
1 Should executive stock options be abandoned?
Dec 01, 2006; ... Abstract: Recent corporate scandals around the world have led many to single out executive stock options as one of the main culprits. More corporations are abandoning stock options and reverting to restricted stock. This paper argues that such a change is not entirely ...
2 Bayesian prediction, entropy, and option pricing.(price of soybeans from 1993-1997 at Board of Trade of the City of Chicago)
Dec 01, 2006; ... Abstract: This paper studies the performance of the Foster-Whiteman (1999) procedure for using a Bayesian predictive distribution for the future price of an asset to compute the price of a European option on that asset. A technical contribution of the paper is the description of a ...
3 Investigating the performance of alternative default-risk models: option-based versus accounting-based approaches.
Dec 01, 2006; ... Abstract: In this paper we evaluate the performance of three alternate default-risk models, seeking to find that measure which performs best, using a comprehensive sample drawn from the Australian equities market. The first two models are option-based models and are derived from ...
4 Ownership, competition, and financial disclosure.
Dec 01, 2006; ... Abstract: A firm's incentive to disclose has been linked empirically to a range of variables, including information asymmetry, agency costs, political costs, and proprietary costs. While the intuition underlying each of the variables seems plausible, Verrecchia (2001) argues ...
5 Top management turnover: an examination of portfolio holdings and fund performance.
Dec 01, 2006; ... Abstract: We examine the performance and portfolio characteristics of actively managed equity funds impacted by top management turnover. Utilizing a unique database of monthly portfolio holdings, our study finds that, post-replacement, previously poor performing funds ...
6 Administrative heritage: an exploratory study of large Australian firms.
Dec 01, 2006; ... Abstract: In this study we address the existing gap in the literature on the strategic evolution of Australian MNCs and the effect their administrative heritage, developed in the domestic market, had on their ability to compete internationally. We explore the administrative ...
7 Regulatory revenues and the choice of the CAPM: Australia versus New Zealand.(capital asset pricing models)
Dec 01, 2006; ... Abstract: This paper compares the revenues resulting from the Officer model, which is generally used by Australian regulatory bodies, the simplified Brennan-Lally model, which is used by the New Zealand regulatory body, the Sharpe-Lintner-Mossin model, which is widely used in ...
8 The determinants of credit ratings: Australian evidence.
Dec 01, 2006; ... Abstract: We examine the impact that various financial and industry variables have on credit ratings issued for Australian firms by Standard and Poor's. Our ordered probit model indicates that interest coverage and leverage ratios have the most pronounced effect on credit ...
9 Momentum in Australia--a note.
Dec 01, 2006; ... Abstract: Our note examines the momentum effect in Australia using the J-month/K-month methodology of Jegadeesh and Titman (1993, 2001). Our sample consists of stocks listed on the Australian stock exchange from January 1980 to December 2001. We do not find evidence for a ...
Alignment: Using the Balanced Scorecard to Create Corporate Synergies.(Book review)
Dec 01, 2006; ... Alignment: Using the Balanced Scorecard to Create Corporate Synergies by Robert S. Kaplan and David P. Norton, 2006, (Harvard Business School Press) hardback, 302 pages. ISBN 1591396905 Movie sequels are rarely as good as the original. So it is with Alignment by ...
For Business Ethics.(Book review)
Dec 01, 2006; ... For Business Ethics by Campbell Jones, Martin Parker and Rene ten Bos, 2005, (Routledge, London & New York), paperback, 210 pages. ISBN 0415311357 Ethics has always had a somewhat uneasy place in business education. Is its purpose to inform and enlighten; to impart a ...