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In 2021, the Australian Government introduced its News Media and Digital Platforms Mandatory Bargaining Code ('the Code') to support the sustainability of the country's journalism. Using Event Study Methodology, we find a collectively positive stock market reaction in the news media industry to the introduction of the Code, although different patterns amongst individual firms and groups by size to the different stages of the Code's development. The large-firm group records larger gain in terms of equity value, but a lower percentage gain than small and medium enterprises. The economic importance of our findings reinforces the Australian Government's regulatory approach as a means to sustain the legitimate interest of businesses and consumers in the news media sector. [ABSTRACT FROM AUTHOR]

In recent years, the business environment has experienced a fast-paced change due to issues such as geopolitics or COVID-19. Accordingly, business internationalisation has been accelerated while the approaches followed for such an end have been improved to maintain companies' competitiveness. Within this context, this paper presents a new framework for the internationalisation of Earth Observation SMEs in two target countries: Australia and Chile. Internationalisation can be an effective strategy for SMEs to grow and expand, but it requires careful research, analysis and agile adaptation to markets and cultures through an integrative and innovative methodology. Secondly, a series of preparatory actions and several internationalisation strategies have been developed, including online bilateral meetings and online trade missions. This work is an innovation driver for the internationalisation of European SMEs, helping them to make the leap into two markets of great interest and in two very attractive sectors, agriculture and maritime, with remote sensing as the nexus. [ABSTRACT FROM AUTHOR]

Innovation is key for productivity growth and an important focus for policy in many countries. Innovation novelty, increasing from new-to-firm to new-to-world, is linked with firm growth and spillover effects. We examine the role of R&D, management capability and business skills in innovation novelty. Using detailed firm-level data, we find that firm-specific variables such as R&D, collaboration, foreign ownership, business focus on innovation and management capability are significantly associated with higher levels of innovation novelty. We also find that innovation strategy can vary based on firm size. We provide new evidence for Australia. [ABSTRACT FROM AUTHOR]

Worldwide, sports gambling is a multibillion-dollar industry. Despite the industry's size and success, little research has been conducted on sport-gambling operators (SGOs), and no research has examined their presence on social media. As such, this exploratory study aimed to examine the social media habits of SGOs through a relationship-marketing lens. To do so, 16,466 tweets were collected from the Twitter accounts of six Australian SGOs, with descriptive statistics from tweets presented and Leximancer performing automated thematic analyses. Results indicated that SGOs are discussing professionalized sport, influencers, and subbrands, as well as extensivelymaking use of hashtags andmentions. Given these results, the strategies that SGOs are using to communicate and interact with their consumers focuses particularly on a North American professional-sport and horseracing context. This research contributes to the growing understanding of social media stakeholders in sport and provides an initial starting point for future research on SGOs given the recent legalization of sports gambling in the United States. [ABSTRACT FROM AUTHOR]

This study examines whether audit firm transparency disclosures are associated with audit quality and explores the effect of audit firm size on this association. Using control and treatment samples of Australian audit firms pre‐ and post‐introduction of a disclosure requirement, we document that firms affected by the regulation display improvement in audit quality. We find that the extent of transparency disclosures is positively associated with audit quality, and audit firm size affects this association in a non‐linear manner. That is, the association is stronger for large non‐Big 4 than Big 4 firms and insignificant for medium and small non‐Big 4 firms. The results suggest that large non‐Big 4 firms (and Big 4 to a lesser extent) attempt to distinguish themselves through audit quality by providing extensive disclosures about their systems and practices. The incremental effect for Big 4 firms is smaller, as these firms have an already established reputation for quality in the audit market. [ABSTRACT FROM AUTHOR]

Organisations are increasingly using work–life programs to strategically manage their workforce in a competitive labour market. Extant research has investigated various outcomes of work–life programs but has lacked focus on organisational financial performance and context. Drawing on strategic human resource management theory, this study proposes and tests a work–life programs–performance relationship. It also investigates the moderating effects of organisation size and industry on the work–life programs–performance relationship. We used a time‐lagged design and data from multiple sources to link work–life programs with firm performance in 117 organisations in Australia. The findings support the hypothesis that work–life programs are positively associated with financial performance. This study also provides pioneering evidence for the moderating effects of organisation size and industry type on the work–life programs–organisational performance relationship. Key points: Across industries and organisations of various size, there is a positive relationship between work–life programs and organisational financial performance.Large organisations with many work–life programs show high net income.Manufacturing organisations with many work–life programs experience high operating revenue and net income. [ABSTRACT FROM AUTHOR]

The aim of this study is to explore the new Australian auditing regulations around Key Audit Matters (KAMs), fully adopted since 2017, by reporting on matters published in over 3,000 Australian statutory audit reports from 2017 to and including 2018 reports. The study provides the first evidence on whether auditors used the same or different disclosures related to audit procedures when reporting on the same KAM in the second year in Australia. The findings suggest the most common KAM disclosures are related to "impairments of goodwill and intangible assets," "revenue recognition," "asset valuation," "acquisitions," and "exploration and evaluation." Around 70% of Australian auditees had the same KAMs disclosed in both years 2017 and 2018. The study found differences between large and small audit practitioners related to the average number of KAMs disclosed and the average number of audit procedures undertaken per KAM. There were also differences found between industries and auditee size. [ABSTRACT FROM AUTHOR]

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We provide evidence supporting the hypothesis that idiosyncratic firm‐level shocks are important drivers of the Australian business cycle (granular hypothesis). We first document that the distribution of firm size in Australia is substantially asymmetric and follows a power‐law distribution with a long right tail. We then show that labour productivity shocks to the largest non‐financial firms in Australia account for about 20–40 per cent of the variation in Australian GDP growth over the period 2000–18. Besides energy sector firms, firms in the construction, transportation and consumer services sectors appear to be relevant drivers of GDP growth. [ABSTRACT FROM AUTHOR]

The study scrutinised the impact of the adoption of Global Reporting Initiative's (GRI) G4 guidelines on Australian listed companies' biodiversity reporting and examined the change of biodiversity reporting from the pre-G4 to the post-G4 era. The impacts of certain firm-specific factors on biodiversity reporting were also examined. Our results show a significant increase in biodiversity reporting during the G4 era as compared to the G3 era, indicating an improved voluntary reporting regime facilitates the extent of biodiversity reporting and introduces more transparency and accountability. The use of GRI's G4 guidelines, greater media exposure, metals and mining industry membership of companies, and smaller board size increases the extent of firms' biodiversity disclosure but firm size and profitability do not affect the extent of biodiversity disclosure. Australian biodiversity disclosure increased significantly over time (2012–2015) under the newly released Australia's Biodiversity Conservation Strategy 2010–2030 coupled with the GRI's G4 guidelines. These results are particularly important to policy makers because they encourage the development of appropriate strategies, coupled with the GRI G4 guidelines, to enhance the quantity and quality of biodiversity disclosures. [ABSTRACT FROM AUTHOR]

To what extent are firm size differences influenced by entrepreneurs’ pre-founding experience, and do these differences persist over time? We analyze these questions using a novel data set assembled for Australian and New Zealand wine producers on their heritage and sizes at various ages. Our findings indicate that on average firms founded by individuals with prior wine industry experience are larger initially and remain larger for at least the next 20 years. Using additional data on professional backgrounds, export scope, and the size of the firms at which experienced founders previously worked, we explore alternative mechanisms that could have generated these persistent size differences. [ABSTRACT FROM PUBLISHER]

There are an increasing number of companies in the mining and metals sector disclosing environmental sustainability information in their annual reports, sustainability reports and corporate internet web pages. However, there is ongoing debate about the relationship between the quantity and the quality of environmental disclosure. That is, does an increase in number equate to an increase in quality? This study investigates the relationship between the quantity and the quality of environmental disclosure reports. Using content analysis, we examine the environmental disclosure of 55 Australian mining and metal companies which are listed among the Australian Securities Exchange's (ASX) Top 100 mining and metal sector companies. We find that the size of firms influences both the quantity and the quality of corporate environmental disclosure. That is, we find that market capitalization is positively and significantly correlated to the quantity (number of words) and the quality of disclosure. We also confirm that there is a very highly significant, positive correlation between quantity (number of words) and quality of environmental disclosure. In order to investigate any differences between the top performing group and the bottom performing group in terms of environmental disclosure quality, further analysis also confirms that there is a positive relationship between the quantity and the quality of environmental disclosure. Copyright © 2015 John Wiley & Sons, Ltd and ERP Environment [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to empirically investigate the effects of corporate governance on the dividend payout (DP) in Australia where DP remains high and corporate governance system has recently been strengthened.Design/methodology/approach A self-constructed governance indexes over 2001-2013 is used for the random effect panel Tobit model to investigate the effect of corporate governance on cash dividend. Two different versions of the indexes and the traditionally emphasized governance elements such as board structure are also used for the robustness checks.Findings Estimation results report that a positive effect of governance, combined with size of firm and profitability, on DPs. In contrast, financial distress and the global financial crisis, respectively, have negative effect on dividend policy. Further examinations imply that the positive effect of governance is attenuated by growth opportunities while intensified by firm free cash flow and the franked dividend policy.Originality/value The sample period and the governance indexes in this paper, respectively, are the longest and the most comprehensive among existing studies on Australian case. This paper also combined the traditional governance-dividend theme with corporate tax, particularly the unique franked dividend tax system. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to examine the effectiveness of voluntary governance mechanisms in Australia.Design/methodology/approach This study identifies similar choices of corporate governance by Australian firms and tests the effectiveness of the choices made based on the earnings quality of reported firms. Cluster analysis is conducted using governance best practice variables, firm size and an earnings quality variable.Findings This paper’s results support the voluntary governance approach for smaller firms, but suggest that mandatory governance requirements could be beneficial for larger firms. Evidence suggests that a benefit accrues for larger firms with the adoption of governance best practice. Cluster analysis indicates that larger firms tend to exhibit higher levels of adoption of governance best practice than smaller firms.Originality/value This paper adds to the literature by providing important information regarding the suitability of adoption of voluntary governance mechanisms in Australia. [ABSTRACT FROM AUTHOR]

The purpose of this review is to synthesise the existing research literature regarding audit reporting and, in particular, the going concern decision. We consider the findings of research conducted in Australia and New Zealand on these issues. We then analyse trends in audit reporting from 2005 to 2013. We identify an increase in auditors' reports highlighting going concern issues well beyond the global financial crisis period confirming that this period represents a period of prolonged economic uncertainty. We identify trends by audit firm type, by industry and company size. We analyse the subsequent year outcomes for firms receiving going concern opinions. We also identify opportunities for future research. [ABSTRACT FROM AUTHOR]

Background: Worksite health promotion (WHP) initiatives are increasingly seen as having potential for large-scale health gains. While health insurance premiums are directly linked to workplaces in the USA, other countries with universal health coverage, have less incentive to implement WHP programs. Size of the business is an important consideration with small worksites less likely to implement WHP programs. The aim of this study was to identify key intervention points and to provide policy makers with evidence for targeted interventions.Methods: The worksites (n = 218) of randomly selected, working participants, aged between 30 and 65 years, in two South Australian cohort studies were surveyed to assess the practices, beliefs, and attitudes regarding WHP. A survey was sent electronically or by mail to management within each business.Results: Smaller businesses (<20 employees) had less current health promotion activies (mean 1.0) compared to medium size businesses (20-200 employees - mean 2.4) and large businesses (200+ employees - mean 2.9). Management in small businesses were less likely (31.0 %) to believe that health promotion belonged in the workplace (compared to 55.7 % of medium businesses and 73.9 % of large businesses) although half of small businesses did not know or were undecided (compared to 36.4 and 21.6 % of medium and large businesses). In total, 85.0 % of smaller businesses believed the health promotion activities currently employed in the worksite were effective (compared to 89.2 % of medium businesses and 83.1 % of large businesses). Time and funding were the most cited responses to the challenges to implementing health promoting strategies regardless of business size. Small businesses ranked morale and work/life balance the highest among a range of health promotion activities that were important for their workplace while work-related injury was the highest ranked consideration for large businesses.Conclusion: This study found that smaller workplaces had many barriers, beliefs and challenges regarding WHP. Often small businesses find health promotion activities a luxury and not a serious focus of their activities although this study found that once a health promoting strategy was employed, the perceived effectiveness of the activities were high for all business regardless of size. Tailored low-cost programs, tax incentives, re-orientation of work practices and management support are required so that the proportion of small businesses that have WHP initiatives is increased. [ABSTRACT FROM AUTHOR]

Purpose – The aim of this paper is to identify the competency expectations for property professionals in Australia. It further discusses differences in competency expectations between property professionals who have different professional backgrounds, such as valuers or non-valuers, and property professionals who work in different sectors or different-sized companies and who have differing amounts of experience. The competencies identified in this paper include knowledge areas, skills and attributes. Design/methodology/approach – This paper presents the research findings of a questionnaire survey sent to Australian Property Institute members, which aimed to gather Australian property professionals' views on the knowledge, skills and attributes required to perform their roles effectively. The percentage of the respondents who provided different choices of given answers for each of the 31 knowledge areas, 20 skills and 21 attributes was identified and discussed. The professional backgrounds of the respondents were also identified to see whether these impact on competency expectations for property professionals. Content analysis was used to analyse written comments collected in the questionnaire. Findings – The most important categories of knowledge, skill and attribute for Australian property professionals are valuation, effective written communication and practical experience, respectively. The least important are international real estate, second language and creativity. Knowledge of rural valuation is very important in Australia, although this has not been mentioned in previous studies. Professional backgrounds have a large influence on Australian property professionals' views on knowledge requirements, but less so on skills and attributes. Practical implications – The findings of this paper can be used as guidance for property professionals in their professional development plan. In addition, property course providers can use the research findings of this paper to inform their curriculum development and redesign. Originality/value – This project is the first to identify the comprehensive competency expectations of property professionals as a whole in Australia. At the same time, it identifies differences in the competency expectations of property professionals who have different professional backgrounds. Similar types of study have been conducted in the UK, the USA, Hong Kong and New Zealand but not yet in Australia. An understanding of the knowledge, skills and attributes required for property professionals is important for continuing professional development, curriculum development and the redesign of relevant property courses in order to maintain performance and competitiveness in the property sector. [ABSTRACT FROM AUTHOR]

Studies examining the relationship between a firm's internal audit ( IA) function and its audit fees have produced mixed results with suggestions of possible model mis-specification in these studies. Our analysis reveals that differences in significance for IA with audit fees is driven by the choice of variables proxying for firm size and other firm characteristics, suggesting that prior results are entangled with model specification issues. Specifically, when the sales variable is used as a measure of firm size, IA is insignificant (in explaining variations in audit fees) but subsequently becomes significant when assets and employees are used. To overcome the conflicting results, subsequent factor analysis supported a positive relationship between IA and audit fees. The most significant implication from this study is that previously reported relationships involving audit fees may be the outcome of the model adopted rather than the underlying relationship between the variable of interest and audit fees [ABSTRACT FROM AUTHOR]

Mice cause substantial economic, social, and environmental damage to rural production systems and communities in Australia, especially during mouse plagues. The losses and damage caused by mice to hay/fodder storage are not well understood, given the size of the industry, so a pilot study (survey of 14 growers) was designed to better understand the physical and economic damage, consider disease implications, and identify the management strategies available. During a mouse plague, mice were regarded as the only factor (other than weather) that affected the long-term sustainability of fodder storage. Growers were feeding fodder to livestock (sheep/cattle) at twice the rate they normally would because of mouse damage and contamination. Mice damaged strings and the structure of bales, making transport impractical, leading to destruction of some stacks. Losses caused by mice were estimated at AUD 140,000 (range = AUD 7000–461,580; equivalent to 30–40% loss of value) and included estimates of physical damage to hay/fodder bales, rodenticides, and labour costs. Growers were concerned about contamination and disease transfer to livestock (and workers) from mice through urine/faeces and their carcasses, especially during mouse plagues. There are significant gaps in our knowledge on the impacts of mice to fodder storage in Australia. Research is needed to (1) identify effective mouse control options, (2) determine the economic impact of mice, and (3) undertake a disease study of mice, to help inform appropriate management strategies for effective control. [ABSTRACT FROM AUTHOR]

This study provides evidence of a directly observable and significant cost of International Financial Reporting Standards (IFRS) adoption, by examining the fees incurred by firms for the statutory audit of their financial statements at the time of transition. Using a comprehensive dataset of all publicly traded Australian companies, we quantify an economy-wide increase in the mean level of audit costs of 23 percent in the year of IFRS transition. We estimate an abnormal IFRS-related increase in audit costs in excess of 8 percent, beyond the normal yearly fee increases in the pre-IFRS period. Further analysis provides evidence that small firms incur disproportionately higher IFRS-related audit fees. We then survey auditors to construct a firm-specific measure of IFRS audit complexity. Empirical findings suggest that firms with greater exposure to audit complexity exhibit greater increases in compliance costs for the transition to IFRS. Given the renewed debate about whether the Securities and Exchange Commission (SEC) should mandate IFRS for U.S. firms, our results are of timely importance. [ABSTRACT FROM AUTHOR]

This study examines the relationship between firm size and structured work-related training by analyzing data from the 2001 installment of the Australian Bureau of Statistics' Survey of Education and Training. The results show a positive correlation between the probability of training and firm size for both male and female workers. A similar positive correlation between the intensity of training and firm size is also evident. Although the incidence of training is roughly comparable for male and female workers, males tend to train significantly more hours than their female counterparts. The findings also indicate that much less training occurs in firms with fewer than 10 workers, especially in health and safety, management and professional, and technical and paraprofessional training. Such results suggest that research on the size-training effect using firm- or establishment-level data, which generally focus only on firms with 20 or more employees, cannot detect an important source of the potential training deficit. [ABSTRACT FROM AUTHOR]

This study analyses the CEO remuneration structure and level for 100 Australian-listed entities. Consistent with expectations, it finds that high-growth firms pay their CEOs a greater proportion of performance-based pay, when equity-based rewards only are considered. High-growth firms also place greater reliance on market and/or non-financial performance standards for the award of performance-based pay. The extent to which performance-based remuneration is used as a component of CEO pay is positively associated with firm size and growth options. Other potential determinants of performance-based pay, such as financial performance, are not significantly associated with the use of performance-based remuneration. [ABSTRACT FROM AUTHOR]

We investigate the relationship between productivity, size and age of large Australian firms employing more than 100 employees or holding assets in excess of $100 million. In addition, we also investigate the extent of productivity persistence among these firms by looking at transition matrices of productivity distribution and productivity-rank mobility. The empirical study is based on the IBISWorld database used to estimate translog cost function to measure (a residual based) productivity. We find evidence, though somewhat weak, that larger and older firms are on average less productive. Further, we find strong evidence for a high degree of inertia in terms of productivity ranking within an industry. [ABSTRACT FROM AUTHOR]

The article focuses on a research paper which examines the relationship between business size and the diffusion of both technological innovation and activity-based costing (ABC) as an administrative innovation. The researchers adopted a longitudinal survey method to examine practices within the Plastics and Chemicals Industries Association, which is the pre-eminent national body representing Australia's fourth largest manufacturing sector. The study found that there is a positive relationship between business size and both technological innovation and the implementation of ABC.

In the last few decades, SMEs have become increasingly active in international markets. SMEs do not necessarily follow a pattern of incremental internationalisation as they have a wide range of options and many are opportunistic. A large postal survey was conducted in five countries - the UK, France, Finland, Australia and Mexico. Many similarities in internationalisation strategy were found among these companies. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this article is to examine the factors influencing the provision of increased training in Australian manufacturing small and medium-sized enterprises (SMEs) that have embarked upon different growth development pathways. Design/methodology/approach – The longitudinal panel data employed in this research are drawn from the business longitudinal survey conducted by the Australian Bureau of Statistics over the four financial years 1994-1995 to 1997-1998. Findings – The results indicate that organisational change, in the form of major change in production technology and/or new or substantially improved product or process technology, and the introduction of business improvement programmes, are influential, and relatively consistent drivers of increased training in SMEs following each of the growth development pathways, and, over time. The findings also suggest that innovation distinguishes high growth SMEs from their lower growth counterparts. Research limitations/implications – This investigation used a single item measure of training. Future research could utilise multi-dimensional measures of training. Practical implications – The findings suggest that the reasons SMEs provide training depend closely on the particular business needs of relevance to the enterprise, and as such, may be of interest to policy-makers. To date, there has been a paucity of research examining the demand side of SME training. Originality/value – The study focuses exclusively on SMEs that have embarked upon different growth development pathways, and adopts a longitudinal research design, enabling the study of the determinants of training over time, in SMEs exhibiting different levels of business growth. [ABSTRACT FROM AUTHOR]

Despite the proclaimed advantages of small business strategic alliances, little research has been carried out to determine whether these structures "cushion" the disadvantages arising from e-commerce adoption for member businesses. There has also been a lack of research into comparing e-commerce use in those small businesses that are members of a strategic alliance to those that have opted to remain outside such arrangements. This article aims to correct the situation by presenting the findings of a study of 177 regional small businesses in Sweden and Australia that investigated the impact of strategic alliance membership on disadvantages associated with e-commerce adoption. The results of the study indicate that e-commerce disadvantages are often dissipated through a strategic-alliance structure more easily than through a single self-directed unit. However, the cushioning effects of a strategic alliance membership are not uniform and they differ depending on organisational factors such as the size of the business, the market focus, and the business sector. [ABSTRACT FROM AUTHOR]

Using data from micro, small, and medium firms in Australia, the paper exams changes with size toward more enunciated and prescribed practices; (2) the changes in HRM in small and medium-sized firms begin early in the growth process and proceed at a faster rate than during the latter growth phase; and (3) the adoption of formal HRM practices at the managerial level lags behind that at the operational level at the smaller firm sizes. [ABSTRACT FROM AUTHOR]

This article empirically investigates the determinants of research and development (R&D) intensity for a sample of large Australian firms between 1994 and 1997. Various potential determinants are investigated including firm size, market share, diversification, industry concentration and trade protection. The results indicate that around 20 percent of the variance in R&D intensities can be explained using cross-sectional regression techniques. The results indicate that more focused firms tend to have higher R&D intensities, as do firms with activities in North American and European markets. The level of industry concentration appears to have a negative association with R&D intensity. For manufacturing firms, higher levels of trade protection also have a negative association with R&D intensity. [ABSTRACT FROM AUTHOR]

Estimates the separate effects of firm size and share price on returns to Australian equity portfolios. Significant and independent effects of firm size and share price on portfolio returns averaged over all months; Familiar negative relation between share price and returns across all months.

The article investigated the influence of control type on the market for corporate control and takeover in Australia. The results have suggested that the market for corporate control in Australia has been a somewhat imperfect disciplinarian. The study have confirmed that in general the extent of ineffectiveness increases with firm size, however this relationship was most pronounced among management controlled firms. In owner controlled firms the incumbent ownership group could more often retain control despite prolonged periods of depressed earnings. Since this ability depended crucially on the composition of share holdings it was more independent of firm size. In company controlled firms the external market for corporate control was of little consequence, except in so far as it provided a guide to decisions made by the parent concern. If subsidiaries were not performing up to the standards set for them they were disposed of in the market, while good performers were internalized.

This article documents the use and disclosure of derivatives in the Australian extractives industry. We find that derivatives are used by 23 per cent of our sample, with mitigation of commodity risk and foreign exchange risk being the most common purposes for which derivatives are used. The most common types of derivatives used in the sector for hedging purposes are forward rate agreements and options. Results indicate that derivative use is positively associated with financial risk and firm size. We also examine the relation between firm characteristics and the extent of financial instrument disclosure, using a disclosure index based on the additional requirements in IFRS 7 Financial Instruments: Disclosures. Empirical results reveal that large firms with higher leverage, which use derivatives, and are audited by a Big 4 auditor provide more extensive disclosure of financial instruments. [ABSTRACT FROM AUTHOR]