Search results

This study aims to examine to what extent and how effective sustainability education has been at the tertiary accounting education level. The New Zealand (NZ) Parliamentary Commissioner for the Environment identified that sustainability education, as part of university education, is important, though NZ universities currently perform poorly in this area. This study looks at the important issue of sustainability education in the context of the emerging field of ecological economics and new understanding in business role and function of society where accounting education represents the precondition in meeting the challenges successfully.

A mixed method approach was used for this investigation combining quantitative and qualitative research methods to provide more depth to the analysis. Both interviews and online surveys were conducted to determine the perceptions held by both academics and graduates, of the extent and adequacy of sustainability education with NZ university degrees. An extensive review of the literature and the overview of the web sites of the different universities formed the qualitative part of the mixed method research approach to the investigation to determine the state of sustainability education in accounting courses at NZ universities.

There were mixed views on the current state of sustainability education within NZ university accounting courses. Although there was a general consensus with both groups of participants that a start has been made, the integration is not wide enough and the sustainability education is not in sufficient depth. There were mixed feelings regarding the role that accountants should play in sustainability reporting; however, there was a general consensus around the fact that accountants do have a role to play. Both groups of participants indicated that it is important for sustainability education to be included in accounting courses at NZ universities. Based on the research findings, it appears that universities have to maintain or provide an optional higher undergraduate or post-graduate level paper in sustainability accounting. Evidence from lecturers' personal experience suggest that these courses better develop a student's knowledge of sustainability as they have time to take an interdisciplinary approach to teaching and take a look at “big issues” like how accounting can either support or hinder sustainability directions for businesses and society.

The role that accounting educators play in integrating sustainability education at universities has been a contentious issue with a seemingly large gap between what research has defined as best education practice and what is currently being taught around the world. Although sustainability has formed the subject of extensive research over a number of years, there has been no work performed on the current state of sustainability education in accounting courses at NZ universities. Given the future challenges that NZ managers (and accountants) will face, it is important that universities which form a vital part of NZ society, equip managers (and accountants) to meet these demands. This study on perceptions of different stakeholders in relation to education for sustainable development, therefore, provides really important arguments for why there has to be further developments in this crucial area. The findings indicate that sustainability education by accounting educators is on a very much ad hoc basis. Further research needs to be conducted to drive better educational directions in sustainable development in universities.

This study aims to identify the determinants of transport mode choice and the constraints on shifting freight in New Zealand (NZ) from road to rail and/or coastal shipping, and to quantify the trade-off between factors affecting shippers’ perceptions, to assist in increasing the share of freight moved by non-road transport modes.

A revealed preference survey of 183 freight shippers, including small and medium enterprises and freight agents in NZ, is used to investigate whether freight shippers’ characteristics affect their ranked preference for attributes related to mode choice and modal shift. Additionally, a rank-ordered logistic (ROL) model is estimated using the ranking data.

The results reveal several distinct types of transport mode choice behaviour within the sample and show how the preferences for timeliness, cost, accessibility, damage and loss, customer service, and suitability vary between industry groups and business types. Also, the ROL method allows us to identify heterogeneity in preferences for mode choice and mode shift factors for freight within NZ.

The results imply that NZ shippers ranked transport time as the most significant constraint upon distributing goods by rail, while accessibility and load size were the most significant constraints upon using coastal shipping. The study also identifies how NZ shippers’ modal shift constraints vary according to the firm’s individual or logistical characteristics.

This study informs freight transport policy makers about the needs of NZ shippers by providing quantitative measures of the intensity of preference for the various mode choice factors.

Those involved in freight transport have a better basis for formulating transport policy.

Two prior survey papers on the use and perceived merit of customer accounting (CA) practices, one in Australia and one in New Zealand (NZ), disclosed contrasting results with confusing elements. The purpose of this paper is to replicate and extend previous survey research in order to update and clarify our understanding of CA practices in NZ.

Within a contingency theory framework, a mail questionnaire survey is used to measure the use and perceived merit of CA practices in NZ and investigate their relationship with six contingent factors: competitive strategy, market orientation, environmental uncertainty, costing methodology, company size and industrial sector.

Mean CA usage and perceived merit scores in NZ in 2009 are much higher than was found in NZ in 2007 and similar to those found in Australia in 2002. A significant gulf between usage rates of historical and forward-looking CA measures is now found in NZ. There is strong evidence for a positive contingent relationship between the marketing concept of marketing management and both the use and perceived merit of historical CA measures. Also found is a significant positive relationship between the customer concept of marketing management and the use and perceived merit of customer profitability analysis at the individual customer level.

The survey method used prevents follow-up questions and clarification of ambiguities, but the survey results do provide new insights and potential avenues for further research.

This survey provides researchers, teachers and firms using or considering using CA practices, with an improved understanding of current usage and perceived merit of CA practices in NZ companies.

This paper aims to assess the ability of New Zealand (NZ) actively managed funds to generate risk-adjusted outperformance using portfolio holdings data. Focusing on domestic equity allocations addresses the benchmark selection issue, particularly for funds with national and international exposures.

The authors assess performance using several asset pricing models including the CAPM, three-factor and four-factor models. The authors also assess performance across funds with different characteristics such as fund size, size of local holdings, type of fund provider, past returns and fees. The authors further examine whether funds engage in any stock-picking or market timing by considering the active share and tracking error.

The returns on NZ equity holdings of NZ actively managed funds from 2010 to 2017 provide little evidence of risk-adjusted outperformance and stock-picking skill. These exposures yield pre-cost returns that have a nearly perfect correlation with the market index and an insignificant alpha. Funds show little tendency to bet on any of the main characteristics known to predict stock returns, such as size, book-to-market and momentum. In addition, the authors show that the average active shares and tracking errors are low, suggesting that the majority of funds hold NZ equity portfolios that closely mimic the market index.

Existing studies rely on returns data which aggregate performance across all asset classes with varying exposures. This may lead to benchmark selection issues (particularly for funds with international exposures) which may obscure the fund manager’s true stock-picking skills. Assessment using holdings data would enable suitable performance measurement by researchers and industry analysts.

While numerous studies have been carried out in the US to determine the character and scope of the effects of contaminated, threatened or “stigmatized” properties on the terms and availability of debt financing, little appears in the published literature dealing with the attitudes, policies and requirements of equity investors. Hence, the extent of opposition from both institutional lenders and equity investors toward contaminated property is still uncertain. This paper summarises the results of parallel studies undertaken within New Zealand (NZ) and the USA to answer the question of how those who lend on, and invest in, property affected or impacted by contamination perceive the risks associated with this type of investment and evaluate its impacts. Of particular interest are the perceived effects of on‐site contamination on property investment and its financing.

Building a bioeconomy requires efficient technology transfer and global linkages to exploit finite intellectual property exclusivity periods. The purpose of this paper, using a resource‐based view lens, is to assess the priorities, capabilities, and competitiveness of the emerging New Zealand (NZ) bioeconomy.

A triangulated design was used that involved four focus groups, 27 interviews, five case studies, and survey of 176 NZ biotechnology industry participants from a broad range of backgrounds such as scientists, managers, and investors.

Two high‐priority capabilities were identified as being critical to fostering a competitive bioeconomy – access to talent and access to funding. Participants also identified the critical role of government in building and coordinating infrastructure, enabling critical capabilities, and accelerating bi‐directional technology and capital flows.

Most biotechnology research and data has focused on the USA and European Union. This is one of the first studies of NZ biotechnology participants, and insights gained within this context are potentially applicable for increasing our understanding of building biotechnology industries outside established clusters.

There has been a lack of research, particularly within the New Zealand (NZ) context, focusing on the identification and assessment of risk factors for construction projects, leading to a wide variation between design-phase elemental cost plans (ECPs) and the outturn tender sums (OTS). Still to be investigated is how risks interact to produce such variability. This study aims to determine the risk-influencing factors, identified through risk measurement, during design development.

This study adopted literature review and online questionnaire survey. The literature review was used to identify the factors affecting project budgetary performance, which was used to design the questionnaire survey culminating in data analysis. The questionnaire was administered to 64 practising project managers (PMs) in NZ. Their responses were analysed using descriptive statistics, mean ranking analysis, degree-of-risk measure and correlational analysis, to find the top-five risk factors impacting the variability observed, through ranking the mean and degree of risk values that produce such variability.

Significant risk factors were identified from the questionnaire survey analysis, such as changes in project owner/stakeholder requirements, experience of project team, site condition information, competency of consultants and information flow and quality. These provided some insights in explaining the variability between the design-phase ECPs and OTS based on risk impacts from PMs’ viewpoints.

Findings revealed a drift of 23.86% in budgeted costs (inflated risks), which seems significant. Prioritising top risk factors may provide handy information for researchers on the variables that could be relied upon for the development of a forecasting model for application in NZ.

The study findings have implications for PMs seeking to provide information on mitigation strategies by using risk management approach, considering the influence of development risks on building project delivery and, consequently the project owner’s financial position. To guard against wide variation between design-phase ECPs and OTS, the main contribution of this study is to raise consultants’ awareness of the important risk factors for their planning at the outset, thus assisting PMs in pro-actively managing their clients' budgets.

This study creates value by synthesising literature on construction project budgeting and highlighting areas for further research. By giving adequate attention to key risks associated with budget overruns in commercial projects, variability between ECPs and OTS, a common phenomenon in NZ, can be controlled to achieve cost savings. Based on this, further study suggests the development of a model that could assist the stakeholders in NZ to more reliably predict OTS from the design-phase ECP and pro-actively avoid unfortunate budget/cost overruns, disputes and even project abandonment.

The purpose of this paper is to examine the reporting practice of leading museums in New Zealand (NZ) and the UK to develop a museums' performance accountability disclosure index.

The paper reports a study of annual reporting by 16 museums in NZ and the UK. Because of the unique nature of the industry the disclosure index uses a framework which draws on the balanced scorecard (BSC). The BSC provides a link between internal reporting of key performance issues and the need of a community organisation to report to the public.

Overall, the quality of reporting in each country is found to be of a similar standard. The strongest parts of reports are those dealing with internal processes and objectives, and the weakest are those reporting on learning and growth.

Museums are a key repository of tangible cultural heritage of huge intrinsic value both to the community now, but of more importance to future generations. However, the performance and accountability of this sector is basically without research or commentary, and this paper addresses this deficiency.

Migrant construction workers, significant in many developed economies, face several challenges, which place them at a higher risk of job dissatisfaction compared to locals. Therefore, this study investigates the determinants of job satisfaction amongst a specific group of migrant construction workers, who hold temporary work visas (TWVs) in New Zealand (NZ).

An explanatory research approach was used to investigate the determinants of job satisfaction identified through the literature review. Data were collected through a structured survey administered to 200 Chinese migrants on TWVs (short stays) working on selected major projects in the Auckland region. Data analysis involved T-test and structural equation modelling (SEM) of 102 valid questionnaire responses.

The study highlights the importance of providing opportunities for knowledge advancement and career progression for migrant construction workers to improve their job satisfaction. The results found that Chinese migrant construction workers are generally satisfied with their jobs and would extend their stay if job opportunities are provided. The results confirm that remuneration and opportunities for knowledge advancement and career progression lead to increased job satisfaction, while loneliness decreases job satisfaction. The opportunities for knowledge advancement and career progression triggered more satisfaction than remuneration.

The research result provides a useful knowledge base for understanding the determinants of job satisfaction amongst Chinese migrant construction workers with TWVs. These findings have implications for employment management practices within the construction industry and could enhance immigration information policies and other recruitment agencies' approaches to sourcing overseas workers for the NZ construction industry.

The purpose of this paper is to uncover the stylised facts about NZ corporate boards and identify unanswered questions about their composition, activity and incentives during the 16-year period between 1995 and 2010.

The paper uses annual report data to document the evolution of 22 NZ board characteristics. The paper also informally compares these trends with those occurring in other countries.

Unsurprisingly, the representation of non-executive, independent and female directors on NZ boards rose during the period, as did real chair and director fees and the importance of board committees, while average board size fell. Perhaps more surprisingly, much of this movement occurred before NZX governance reforms in 2003. Moreover, there are some intriguing differences between New Zealand and other, mainly larger, countries.

The analysis is largely descriptive and focuses on identifying questions rather than answering them.

The paper fills an obvious gap in the governance literature, which largely ignores small, open economies, and hence provides little clue as to the overall state and evolution of NZ boards. The paper also identifies a number of questions for further research.