33 results for Auckland University of Technology, Working or discussion paper

  • Monetary Policy Transparency and Pass-Through of retail interest rates

    Liu, MH; Margaritis, D; Tourani-Rad, A (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    This paper examines the degree of pass-through and adjustment speed of retail interest rates in response to changes in benchmark wholesale rates in New Zealand during the period 1994 to 2004. We consider the effect of policy transparency and financial structure in the transmission mechanism. New Zealand is the first OECD country to adopt a formal inflation targeting regime with specific accountability and transparency provisions. Policy transparency was further enhanced by a shift from quantity (settlement cash) to price (interest rate) operating targets in 1999. We find complete long-term pass-through for some but not all retail rates. Our results also show that the introduction of the Official Cash Rate (OCR) increased the pass-through of floating and deposit rates but not fixed mortgage rates. Overall, our results confirm that monetary policy rate has more influence on short-term interest rates and that increased transparency has lowered instrument volatility and enhanced the efficacy of policy.

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  • Testing for the Invariance of a Causal Model of Friendships at work: an investigation of job type and needs

    Morrison, R. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    The relationship between workplace friendships and organisational outcomes were investigated. Employees from diverse industries responded to an Internet-based survey (n=445). A previously supported model of workplace relationships (Morrison, 2004) was cross-validated, confirming linkages between friendships at work and organisational outcomes. The model was invariant across groups reporting differing needs for affiliation, autonomy or achievement, but non-invariant across groups reporting occupying relatively less or more interdependent jobs. Results suggest that the interdependence of individuals’ jobs affects the salience of work friendships more than subjective needs.

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  • New perspectives on the Supply-Chain and Consumer-Driven innovation

    Mowatt, S. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    This paper considers the interrelationship between innovation and the control of the supply-chain in consumer-driven industries. In particular the paper employs the concepts of Control and Innovation Networks as an analytical framework to examine the coordination of the supply-chain and inter-organisational collaboration. In-depth empirical evidence is provided by two cases industries: the UK supermarket and the UK consumer magazine publishing sector. By separating the process of supply-chain integration and coordination from the control of supply-chain, motives for collaboration and conflict were explored. A detailed analysis is given of the innovation process in both sectors, and new patterns of inter-organisational cooperation are identified. Network Hubs were shown to be able to use their control of the critical information of consumer demand to drive innovation and extract value-adding activities. In both cases examined the Innovation Hub was able to greatly extend the industry supplier base through the incorporation of external actors into the value system. This has widened the industry participation, but acted to change patterns of innovation within sectors. Consumer-driven Innovation Networks dependent on access to consumers through retail channels were found to be potentially vulnerable to retailer Control Networks.

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  • Technology, organisation and innovation: the historical development of the UK magazine industry

    Cox, H.; Mowatt, S. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    For most of the twentieth century, the publishing of magazines was technologically and organisationally embedded within the printing industry. By charting the origins and evolution of Britain’s principal magazine publisher, IPC, this paper demonstrates how these organisational inflexibilities served to constrain new product development and promoted a competitive regime based upon mass production coupled with a low pricing strategy founded on cheap weekly magazines. During the 1980s, however, radical changes in working practices within the printing industry, stemming from the political reforms to trade union power, paved the way for a revolution in publishing technology. The introduction of desktop publishing (DTP) packages after 1985 thus heralded a new competitive phase in the magazine industry, promoting a much greater emphasis on innovation as a competitive weapon and supporting enhanced forms of product differentiation and organisational flexibility.

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  • Accounting: perceptions of influential high school teachers in the USA and NZ

    Wells, Paul K; Fieger, P. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    A decline in enrolments in Accounting programs in the United States of America has been well documented over the last decade. Some researchers have explained that this decline is in part due to the misinformation or lack of information about the nature of accounting and the duties performed by accountants. Other studies have found that a significant number of students make their career choice decisions while at high school and that teachers are influential in this decision making process. This study replicates a US study by surveying NZ high school teachers to compare their perceptions of the accounting profession to, engineering, law and medicine based on 24 attributes of a profession. The results from this study are contrasted to those from the US study. Our findings indicate that similar to the US, NZ high school teachers have a low opinion of accounting as a career option for university-bound high school students. This implies there are significant issues for educators and the profession including a possible mismatch between the requisite skills perceived by teachers and those sought by the profession.

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  • Strategy-making process and firm performance in small firms

    Verreynne, M. L. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    This paper argues that individual small firms, just like large firms, place differing emphasis on strategy-making and may employ different modes of strategy-making. It offers a typology of the different modes of strategy-making that seem most likely to exist in small firms, and hypothesises how this typology relates to performance. It then describes the results of an empirical study of the strategy-making processes of small firms. The structural equation analysis of the data from 477 small firms with less than 100 employees indicates among other results that the simplistic, adaptive, intrapreneurial and participative modes of strategy-making exist in these SMEs. Of these modes, the simplistic mode exhibits the strongest relationship with firm performance.

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  • Insider trading, regulation and the components of the Bid-Ask Spread

    Frijns, B; Gilbert, A; Tourani-Rad, A (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    Insiders pose a risk to providers of liquidity, who require compensation for this and consequentially widen spreads. In this paper we investigate the relationship between insider trading regulation and the cost of trading by decomposing the components of the spread before and after the enactment of strict new laws. We find a significant decrease in information asymmetry, which is mainly observed in illiquid and high prechange information asymmetry companies. Results are robust to model specification. We also see a decrease in the contribution of information asymmetry to price volatility. Overall, our results may have implications for markets with similar characteristics.

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  • Enemies at work

    Morrison, R. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    This study investigates the link between perceptions of negative workplace relationships and organisational outcomes. Respondents (n=412) spanned a wide range of occupations, industries and nationalities. Data were collected using an Internet based questionnaire. Results indicated that those with at least one negative relationship at work were significantly less satisfied, reported less organisational commitment, were part of less cohesive workgroups and were significantly more likely to be planning to leave their job.

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  • The supply of Accounting graduates in New Zealand

    Wells, Paul K (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    Declining enrolments in accounting programmes in the United States of America and United Kingdom have been well documented for over a decade and it is suggested that accounting as a career choice is becoming less attractive to domestic students. An Australian study supported this conclusion but further noted that the trend is being masked by an increasing level of enrolments in these programmes by international students. Collectively these studies highlight the vulnerability of accounting programmes to fluctuation in the recruitment and enrolment of international students and further, a potential decline in the number of domestic graduates seeking employment in the accounting profession. This study reports the collection and analysis of data from 8 of the 14 approved tertiary education institutions that provide a recognised academic programme to meet the CA requirements of the Institute of Chartered Accountants of New Zealand (ICANZ). Its objectives are to identify graduation trends for the period 1997-2002 and to consider the impact of international student enrolment on these trends. The findings suggest that there have been significant fluctuations in the number of accounting graduates since 1997, with domestic graduate numbers rising between 1999 and 2001 and then declining in 2002. During this time the total number of business graduates has remained constant. The decline in graduate numbers coincides with the introduction of the four-year programme of study. As a consequence the findings reported here have implications for the tertiary education institutions, ICANZ and employers.

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  • In search of Professional Identity: a descriptive study of New Zealand “Professional” bodies’ codes of ethics

    Oliver, G.; McGhee, P. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    “Professional” representative bodies are increasingly turning to codes of ethics in order to define acceptable standards of behaviour. This study addresses a gap in academic literature by focusing on the codes of New Zealand professional bodies. The term profession has a number of different conceptualisations, which are explored along with the role of codes within the professions. Definitions of codes of ethics are reviewed. Codes from four New Zealand bodies are content analysed according to Cressey and Moore’s (1983) three-point typology: Policy area, Authority and Compliance. A number of differences are noted between the four codes, including area of focus, length, detail, sanctions and the overall utility of the codes in guiding behaviour. Implications for the bodies are discussed, most notably that some of the codes appear not to meet adequate professional standards for guiding ethical behaviour.

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  • Meridian Energy and Project Aqua: a study in stakeholder identification and salience

    Wells, Philippa Katherine (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    In 2004 Meridian Energy, a New Zealand State Owned Enterprise, announced its decision to cancel Project Aqua, a power generation scheme that would have involved the construction of six dams on the lower Waitaki river, in the South Island of New Zealand. The decision is interesting in terms of its implications for stakeholders who, as a consequence of transformation in the public sector, have arguably few formal avenues to pursue in challenging the decisions of managers of these enterprises. This paper applies a stakeholder identification/salience framework in exploring the position of, and strategies utilised by, those seeking identification and response from managers. A focus to this exploration is provided though reference to an important theme, that of the symbolic importance of the river – as location and as resource. The conclusion reached as a result of this exploration is that both those seeking recognition as stakeholders and decision-makers within organizations should be cognizant of the implications of socio-legal context on strategy and policy.

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  • The impact of Regulatory Change on Insider Trading Profitability: some early evidence from New Zealand

    Gilbert, A; Tourani-Rad, A; Wisniewski, T (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    This paper adds to the scant literature on the tightening of regulations and its impact on the profitability of insider trades by examining the effects of the recent enactment of the Securities Market Amendment Act 2002 in New Zealand. We investigate the abnormal returns around the date of insider transactions both before and after the introduction of this Act. We find that the number of insider transactions decreased just prior to the introduction of the Act; further we observe a marked reduction in profitability of directors. However, the difference between the pre and post-change returns lacks statistical significance.

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  • Wages and conditions of Clinical Coders in New Zealand: a report of surveys conducted in 1998 and 2004

    Douglas, J. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    This report reports on surveys on the wages and conditions of Clinical Coders in New Zealand’s public health sector undertaken in 1998 and 2004. Human Resource Managers in Crown Health Enterprises in 1998 and District Health Boards in 2004 were asked to provide information relating to the wages and conditions of the Clinical Coders they employed. There was a 100% participation rate from the 23 Crown Health Enterprises in 1998 and an 86% participation rate by District Health Boards in 2004. General information relating to coding practice and coding education was sought from the Public Service Association, Ministry of Health, New Zealand Health Information Service, and the Faculty of Health at the Auckland University of Technology. The 2004 survey showed growth in the number of Clinical Coders employed across the sector. There could have been falls within the six year period but surveys were not conducted to measure this. Overall there was a small movement in wages between 1998 and 2004. The average starting salary increased by 4.9% to $29,867 per anum. At the top end of Coders’ salaries, nearly half of the Crown Health Enterprises in 1998 paid within a range of $34,000 to $$36,000. In 2004 eight of the District Health Boards paid Coders between $42,000 and $46,000. This shift in salary rates is an increase of approximately 26%. During the period 1998 to 2004 there has been a change in legislation from the Employment Contracts Act 1991 to the Employment Relations Act 2000. The 2004 survey has shown an inconsistency with the goal of the ERA for increased collective employment arrangements. In 2004 more District Health Boards were utilising a mixture of collective and individual agreements whereas in 1998 the majority of Crown Health Enterprises employed Coders under collective contracts only. Overall, the surveys revealed that Clinical Coders have had some gains at the enterprise level of wage increases as to be expected, although these did not appear to be in line with inflation. Despite the apparent keenness by this occupational group for improved standardisation of wages, conditions and training, (in part the impetus for this research), there has been no evidence that any such substantial improvements have occurred over the six years.

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  • Stock market volatility around national elections

    Bialkowski, J.; Gottschalk, K.; Wisniewski, T. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    This paper investigates a sample of 27 OECD countries to test whether national elections induce higher stock market volatility. It is found that the country-specific component of index return variance can easily double during the week around an Election Day, which shows that investors are surprised by the election outcome. Several factors, such as a narrow margin of victory, lack of compulsory voting laws, change in the political orientation of the government, or the failure to form a coalition with a majority of seats in parliament significantly contribute to the magnitude of the election shock. Our findings have important implications for the optimal strategies of risk-averse stock market investors and participants of the option markets.

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  • Political orientation of Government and Stock Market returns

    Bialkowski, J.; Gottschalk, K.; Wisniewski, T. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    Prior research documented that U.S. stock prices tend to grow faster during Democratic administrations than during Republican administrations. This letter examines whether stock returns in other countries also depend on the political orientation of the incumbents. An analysis of 24 stock markets and 173 different governments reveals that there are no statistically significant differences in returns between left-wing and right-wing executives. Consequently, international investment strategies based on the political orientation of countries’ leadership are likely to be futile.

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  • Examining the effects of Referent Power on Intrinsic Motivation in organisations: a self-concept based approach

    Boggs, C.; Collins, B.; Verreynne, M. L. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    Using a self-concept based approach we examine the literature for evidence of effects, induced by referent power, on the intrinsic motivation of employees. We propose that the subject of a referent power relationship will be intrinsically motivated to affirm, or enhance their self-concept, in relation to characteristics of a referent agent. Hypotheses were developed and tested using data from 311 employees of a large consulting firm. We found empirical support for the view that referent motivation leads to behaviour in individuals that is in accord with characteristics of a referent agent, with this behaviour resulting in affirmation or enhancement of their self-concept.

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  • Insiders and the law: the impact of Regulatory Change on Insider Trading

    Gilbert, A; Tourani-Rad, A; Wisniewski, T (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    The impact of regulations in minimizing the detrimental effects of insider trading is unsettled. In this paper, we investigate the impact of the introduction of the Securities Market Amendment Act 2002 in New Zealand on several aspects of the market. After examining a sample of companies listed before and after the new laws introduction, we find strong evidence of a reduction in the cost of capital, bid-ask spreads and volatility accompanied by increases in liquidity, all as predicted. We conclude that the change in regulations has had a positive impact on the market.

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  • Exploring entrepreneurship in the Public Sector: examining the application of Strategic Entrepreneurship to SOEs

    Luke, B.; Verreynne, M. L. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    The purpose of this research is to elaborate on a model of entrepreneurship within the public sector. Case studies involving state-owned enterprises (SOEs) trace three examples of entrepreneurial ventures. A theme of strategic use of entrepreneurial action within these organisations emerges. We argue that these examples are representative of both a field of enquiry and a specific concept which has been termed “strategic entrepreneurship”. On the strength of the findings from this study we are able to draw two important conclusions. First, empirical support is found for the notion of “strategic entrepreneurship”, which is defined and explained in this paper. Second, incidences of strategic entrepreneurship are demonstrated in the SOEs, which extend the range of entrepreneurial types usually described in the public sector.

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  • The impact of regulations on the informational basis of insider trading

    Gilbert, A; Tourani-Rad, A (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    While insider trading has been regulated in the vast majority of countries with financial markets, the efficacy of these regulations has only been sparsely examined. In this paper we examine the impact of major regulatory changes in New Zealand on the profitability and informational basis of insider transactions. We conclude that the law changes have both significantly reduced the profitability of insider trading and forced insiders to change the source of the information they use from private information to knowledge of market misvaluation. The results show that well constructed insider trading laws can be effective in controlling insider behaviour and profitability.

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  • Gender differences in the relationship between workplace friendships and organisational outcomes

    Morrison, R. (2011-02-21)

    Working or discussion paper
    Auckland University of Technology

    The current study investigated gender differences in (a) perceived benefits of workplace friendships and (b) the relationship between friendship factors and organisational outcomes. Four hundred and forty-five respondents completed a questionnaire which asked them to describe the benefits they received from workplace friends, and which measured workplace friendship prevalence and opportunities, workgroup cohesion, job satisfaction, organisational commitment and intention to leave. Friendships at work were found to be significantly more strongly correlated with job satisfaction for men. In addition, women were significantly more likely than men to describe the benefits of workplace friendship in terms of social and emotional support, while men were more likely to focus on the benefits friends provided them in their career or in functional aspects of “getting the job done”. Findings are discussed in the context of other organisational and gender research.

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