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Article
Publication date: 3 September 2018

Ammad Ahmed, Helen Higgs, Chew Ng and Deborah Anne Delaney

This paper aims to investigate the determinants of women representation on Australian corporate boards under the ASX’s “if not, why not” corporate governance framework. It…

Abstract

Purpose

This paper aims to investigate the determinants of women representation on Australian corporate boards under the ASX’s “if not, why not” corporate governance framework. It further aims to improve the study of Geiger and Marlin (2012) by using a theoretically sound two-limit Tobit model to examine the determinants.

Design/methodology/approach

This study uses the two-limit Tobit model to examine the determinants of women representation on ASX 500 boards. This approach is used due to the censored nature of the dependent variable.

Findings

This study finds that the two-limit Tobit model is an appropriate methodology to accommodate the censored dependent variable. It further finds that firm size, women as chair of boards, corporate governance index, Global Reporting Initiative signatory, debt ratio, average board age, BIG4 auditors, chief executive officer tenure and shareholder concentration are major determinants of women on boards.

Research limitations/implications

The use of only ASX 500 companies and the sample years (2011-2014) may limit the generalisation of the findings.

Originality/value

This is the first extensive longitudinal Australian study to examine the drivers of women representation on corporate boards. It is also the first of its kind to use the two-limit Tobit model to consider these determinants.

Details

Accounting Research Journal, vol. 31 no. 3
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 28 August 2008

Andrew C. Worthington and Helen Higgs

The purpose of this paper is to examine the investment characteristics of works by leading Australian artists.

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637

Abstract

Purpose

The purpose of this paper is to examine the investment characteristics of works by leading Australian artists.

Design/methodology/approach

About 35,805 paintings by 45 leading Australian artists sold at auction are used to construct individual hedonic price indices. The attributes included in each artist's hedonic regression model include the size and medium of the painting and the auction house and year sold.

Findings

The indexes show that average annual returns across all artists range between 4 and 15 per cent with a mean of 8 per cent, with the highest returns for works by Brett Whiteley, Jeffrey Smart, Cecil Brack and Margaret Olley. Risk‐adjusted returns are generally lower, with reward‐to‐volatility and reward‐to‐variability ratios averaging 1.5 and 5.8 per cent, respectively. The portfolio βs for individual artistic works average 0.41. The willingness‐to‐pay for perceived attributes in the artwork show that works executed in oils and gouache, and those auctioned by Deutscher‐Menzies, Sotheby's and Christies are generally associated with higher prices.

Research limitations/implications

The returns on a buy‐and‐hold strategy in the Australian art market are at least comparable to the Australian stock market. While total risk is greater, the very low market risk found in almost all artistic portfolios is suggestive of the possible benefits of portfolio diversification through art investment. Moreover, a number of artist's works offer very superior market and non‐market risk‐adjusted performance.

Originality/value

This is the first Australian study to construct measures of risk, return, β and Sharpe and Treynor ratios for individual Australian artists.

Details

Accounting Research Journal, vol. 21 no. 1
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 1 August 2003

Andrew C. Worthington and Helen Higgs

This paper examines the short and long‐term comovements among UK regional property markets over the period 1976‐2001. The markets examined are London, Outer South East…

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1019

Abstract

This paper examines the short and long‐term comovements among UK regional property markets over the period 1976‐2001. The markets examined are London, Outer South East, East Anglia, South West, East Midlands, West Midlands, Yorkshire and Humberside, North and North West. Multivariate cointegration procedures, Granger non‐causality tests, level VAR and generalised variance decomposition analyses based on error‐correction and vector autoregressive models are conducted to analyse relationships among these markets. The results indicate that there is a stationary, long‐term relationship and a number of long‐term causal linkages between the various UK property markets. In terms of the percentage of variance explained, other regional markets are generally more important than innovations in a given region, though this is not the case for the Outer South East. The Outer South East market is segmented from the other regional markets, though also extremely influential in explaining forecast variance in these markets. The overall suggestion is that opportunities exist for portfolio diversification in the UK regional property market, and the Outer South East market should be seen as containing valuable information for forecasting performance in the regional markets.

Details

Journal of Property Investment & Finance, vol. 21 no. 4
Type: Research Article
ISSN: 1463-578X

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Article
Publication date: 1 May 2004

Andrew Worthington and Helen Higgs

A bivariate probit model is used to predict the choice of an economics major in a sample of first‐year, undergraduate business students. The paper examines the statistical…

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2707

Abstract

A bivariate probit model is used to predict the choice of an economics major in a sample of first‐year, undergraduate business students. The paper examines the statistical significance of a number of student‐related characteristics on the likelihood of choosing an economics major, along with the role of student personality and perceptions of the profession. Factors analysed include secondary studies in economics, accounting and business, grade point average and attendance pattern, along with perceptions of the economics profession arrayed along dimensions of interest, independence, structure and precision. It would appear that the primary influences on the selection of a major in economics comprise student personality and level of interest in the profession.

Details

International Journal of Social Economics, vol. 31 no. 5/6
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 30 September 2013

Andrew Worthington and Helen Higgs

– Model the drivers of Australian housing affordability and forecast equilibrium affordability. The paper aims to discuss these issues.

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1588

Abstract

Purpose

Model the drivers of Australian housing affordability and forecast equilibrium affordability. The paper aims to discuss these issues.

Design/methodology/approach

Uses autoregressive distributed lag (ARDL) approach to model housing affordability measured by the Housing Industry Association's Housing Affordability Index (HAI) and the housing price-earnings multiplier (HPE). Six sets of explanatory variables, including housing finance, housing construction activity and costs, economic growth, population, alternative investments and taxation.

Findings

Primary long-run drivers are housing finance, dwelling approvals and financial assets. Economic and population growth only have a short-run influence, while housing taxation has limited impact in long run. Forecasts indicate long-run HAI equilibrium values of 109 (above the historical minimum of 107) and a HPE of seven (below the recent historical maximum of 8.2).

Research limitations/implications

Reduced form model encompassing both demand and supply factors involves complicated interpretation given direct and indirect effects on affordability. Analysis at national level ignores regional impacts that may also affect housing affordability.

Practical implications

The impact of the low rate of new dwelling approvals (public and private sector in the long run and public sector in the short run) points to a persistent structural gap between the demand and supply of housing. Strong economic and population growth often blamed for the worsening of housing affordability, at least in the 2000s, has no impact at the aggregate national level.

Originality/value

Only known paper to provide quantitative estimates of macro drivers of Australian housing affordability over a long period using alternative measures of relative housing affordability.

Details

Studies in Economics and Finance, vol. 30 no. 4
Type: Research Article
ISSN: 1086-7376

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Abstract

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Article
Publication date: 14 October 2008

Helen Moore

Interest in the role of the New Zealand School Journal as an officially sanctioned publication for schools, has resulted in a number of past studies exploring its…

Abstract

Interest in the role of the New Zealand School Journal as an officially sanctioned publication for schools, has resulted in a number of past studies exploring its relationship to official curriculum, educational policy and wider socio‐political developments, largely in relation to the written text. This article focuses on selected visual imagery, drawing on a masters study that examined discourses of art and identity through an interdisciplinary approach. Primary sources such as the School Journal publications themselves, material from the National Archives, and the stories of illustrators (gathered through a variety of communications including oral history), contributed a range of voices to the research. This article addresses some of the themes identified in relation to post World War 2 discourses of identity seeking to construct a sense of New Zealandness in educational publications. Acknowledging the role of imagery in educational publication itself offers another voice in constructing our educational history.

Details

History of Education Review, vol. 37 no. 2
Type: Research Article
ISSN: 0819-8691

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Article
Publication date: 1 January 1987

J.R. Carby‐Hall

Civil wrongdoings with consequent financial and other loss or damage to employers, employees and third parties may result in the course of various trade union activities…

Abstract

Civil wrongdoings with consequent financial and other loss or damage to employers, employees and third parties may result in the course of various trade union activities. These day to day trade union activities take a variety of forms. The most common ones are inducement of breach of contract, conspiracy, trespass, nuisance, and intimidation. Each of these activities constitutes a tort which, unless the statutory immunities apply, would normally give rise at common law to an action for damages or, as is more frequent, enable the aggrieved party to obtain an injunction.

Details

Managerial Law, vol. 29 no. 1/2
Type: Research Article
ISSN: 0309-0558

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Article
Publication date: 1 August 2004

Jennette Higgs

The Health Education Trust (HET) was created to promote the development of health education for young people in the UK through work with young adults and children to…

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1652

Abstract

The Health Education Trust (HET) was created to promote the development of health education for young people in the UK through work with young adults and children to encourage the growth of healthy lifestyles. This paper reviews the work of the HET Web site, www.healthedtrust.com The Trust has recently developed its Web site with the aim of facilitating easy access to practical information, policy updates, research news and examples of good practice for all who are interested and concerned about young people's health issues. Through utilising the Web site it is hoped that beneficial information and ideas will be spread more quickly and put into practice elsewhere, thus enabling swifter progress towards healthier lifestyles for our children. This paper describes current Web site activities, which in themselves, provide a keyhole through to exploring the rapidly evolving field of activities, both central and national, all geared towards addressing the health and wellbeing of young people today and for tomorrow. The paper will be useful to any professionals who have a role to play, or an interest, perhaps as a parent, in the area of nutrition and lifestyle education for young people. The more information available and general “noise” relating to good nutrition, healthy lifestyles and the practical means to achieving these, the more likely we are to achieve better health for future generations.

Details

Nutrition & Food Science, vol. 34 no. 4
Type: Research Article
ISSN: 0034-6659

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Article
Publication date: 1 January 1951

WE all scan the advertisements for librarians in The Times Literary Supplement and other journals every week, and we might be forgiven for inferring from them that there…

Abstract

WE all scan the advertisements for librarians in The Times Literary Supplement and other journals every week, and we might be forgiven for inferring from them that there is a dearth of those who, by a curious inversion, are asked for as “A.L.A's or F.L.A's.” In contradiction, it would appear that about 1,500 youngsters are trying to enter the profession by way of the Entrance Examination every year. Youngsters beginning life, especially girls, do usually prefer or are constrained by their parents, the cost of living, and the scarcity of lodgings, to start in their home towns and still to live at home.. Higher in the scale the whole position is tangled in various ways. Many of the entrants fall by the way; commercial pay exceeds municipal and other library pay; more find the work uncongenial, as library work certainly is except to those who are book‐lovers, have a strong social sense, and, in the best cases, a flair for publicity and business administration. Others marry and leave, although some stay on with the ring on the third finger of their left hand. Thus, when maturity is reached, only a relatively few, even amongst the mature, have become chartered librarians and, fewer still, Fellows—as is natural seeing that the fellowship is a much more severe test nowadays and only much love and industry can achieve it. This position is even worse in some other branches of the municipal service; our salaries do not draw the best of the young folk permanently and many a Treasurer's office, to take one branch only, is complaining of want of good recruits. Those of our good ones who do remain do so because of the work and not the pay. Authority has always known this, from the day when Gladstone opined that working in the British Museum was so delightful that it was incredible that the workers wanted any pay at all. Chief librarians today have been most unfairly neglected by the salary negotiating bodies who have dealt generously with several other kinds of chief officers in the local services.

Details

New Library World, vol. 53 no. 13
Type: Research Article
ISSN: 0307-4803

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