Gregory Costello, Patricia Fraser and Garry MacDonald
This paper aims to analyze the impact of common monetary policy shocks on house prices at national and capital city levels of aggregation, using Australian data and the Lastrapes…
Abstract
Purpose
This paper aims to analyze the impact of common monetary policy shocks on house prices at national and capital city levels of aggregation, using Australian data and the Lastrapes (2005) two-part structural vector autoregressive (SVAR) empirical method.
Design/methodology/approach
The Lastrapes (2005) two-part SVAR empirical method is applied to Australian housing market and macroeconomic data to assess the impact of common monetary policy shocks on house prices.
Findings
Results show that while the impact of shocks to interest rates on aggregate house prices is almost neutral, the responses of state capital city house prices to the same shock can exhibit significant asymmetries.
Originality/value
This paper contributes to the monetary policy–asset price debate by examining the influence of Australian monetary policy on capital city housing markets over the period 1982-2012. To the authors’ knowledge, this is the first empirical study that has adapted this Lastrapes (2005) methodology to the analysis of housing markets.
Details
Keywords
This paper aims to provide empirically derived insights into trust and its predictors within a cyber-physical system context of a household service.
Abstract
Purpose
This paper aims to provide empirically derived insights into trust and its predictors within a cyber-physical system context of a household service.
Design/methodology/approach
The methodology comprises an innovative mixed methods design encompassing a videographic animated film portraying a potential “slice of life” household service-system scenario that was subsequently incorporated into a quantitative survey. A total of 400 responses were then used to examine trust dimensions and their hypothesised predictors.
Findings
Findings suggest trust is two-dimensional, with “online networking competency”, “perceptions of risk”, “propensity to trust technology in general” and “concerns about security” being significant predictors. Surprisingly, “concerns about privacy” do not have a significant effect.
Originality/value
The contribution of this research is twofold. Firstly, from a theoretical perspective, the paper offers empirical insights into trust and its predictors within a cyber-physical system context of a household service. Secondly, and from a pragmatic perspective, the model derived from this study may aid practitioners in developing trust strategies and trust management systems within such contexts.
Details
Keywords
The purpose of this paper is to identify and explore potential applications of cyborgian technologies within service contexts and how service providers may leverage the…
Abstract
Purpose
The purpose of this paper is to identify and explore potential applications of cyborgian technologies within service contexts and how service providers may leverage the integration of cyborgian service actors into their service proposition. In doing so, the paper proposes a new category of “melded” frontline employees (FLEs), where advanced technologies become embodied within human actors. The paper presents potential opportunities and challenges that may arise through cyborg technological advancements and proposes a future research agenda related to these.
Design/methodology/approach
This study draws on literature in the fields of services management, artificial intelligence, robotics, intelligence augmentation (IA) and human intelligence to conceptualise potential cyborgian applications.
Findings
The paper examines how cyborg bio- and psychophysical characteristics may significantly differentiate the nature of service interactions from traditional “unenhanced” service interactions. In doing so, the authors propose “melding” as a conceptual category of technological impact on FLEs. This category reflects the embodiment of emergent technologies not previously captured within existing literature on cyborgs. The authors examine how traditional roles of FLEs will be potentially impacted by the integration of emergent cyborg technologies, such as neural interfaces and implants, into service contexts before outlining future research directions related to these, specifically highlighting the range of ethical considerations.
Originality/value
Service interactions with cyborg FLEs represent a new context for examining the potential impact of cyborgs. This paper explores how technological advancements will alter the individual capacities of humans to enable such employees to intuitively and empathetically create solutions to complex service challenges. In doing so, the authors augment the extant literature on cyborgs, such as the body hacking movement. The paper also outlines a research agenda to address the potential consequences of cyborgian integration.
Details
Keywords
Garry D. Carnegie, John Richard Edwards and Brian P. West
Numerous studies have examined the institutional setting of accounting as a professional occupation. However, institutional deeds and outcomes derive from the behaviour of…
Abstract
Numerous studies have examined the institutional setting of accounting as a professional occupation. However, institutional deeds and outcomes derive from the behaviour of individual actors, particularly those key players who drive the creation, policy development and outlook of practitioner associations. Recognising this, and in search of a more detailed understanding of the dynamics of professional formation, this study applies the prosopographical method of inquiry to accounting development in Australia during the period 1886 to 1908. Motives and actions are identified with the founding members of the Incorporated Institute of Accountants, Victoria, during this formative era, which saw key personalities transfer their allegiance to the Australasian Corporation of Public Accountants. The beliefs, preferences and ambitions of individual participants are shown to exert significant influence over the process of professional formation, highlighting the capacity of prosopographical studies to augment the predominantly vocational and institutional focus of the prior sociology of professions literature.
Details
Keywords
The purpose of this paper is to examine the strategies and dynamics of the fledging accounting professional project in the context of boom, bust and reform in colonial Victoria…
Abstract
Purpose
The purpose of this paper is to examine the strategies and dynamics of the fledging accounting professional project in the context of boom, bust and reform in colonial Victoria. In doing so, the study provides evidence of the association of members of the Incorporated Institute of Accountants, Victoria (IIAV) (1886) and other auditors with banks that failed during the early 1890s Australian banking crisis, and addresses the implications for the professionalisation trajectory.
Design/methodology/approach
The study uses primary sources, including the surviving audited financial statements of a selection of 14 Melbourne-based failed banks, reports of relevant company meetings and other press reports and commentaries, along with relevant secondary sources, and applies theoretical analysis informed by the literature on the sociology of the professions.
Findings
IIAV members as bank auditors are shown to have been associated with most of the bank failures examined in this study, thereby not being immune from key problems in bank auditing and accounting of the period. The study shows how the IIAV, while part of the problem, ultimately became part of a solution that was regarded within the association’s leadership as less than optimal, essentially by means of 1896 legislative reforms in Victoria, and also addresses the associated implications.
Practical implications
The study reveals how a deeper understanding of economic and social problems in any context may be obtainable by examining surviving financial statements and related records sourced from archives of surviving business records.
Originality/value
The study elucidates accounting’s professionalisation trajectory in a colonial setting during respective periods of boom, bust and reform from the 1880s until around 1896 and provides insights into the development of financial auditing practices, which is still an important topic.
Details
Keywords
Garry D. Carnegie and Brendan T. O'Connell
The purpose of this Australian case study, set in the 1960s, is to comprehensively examine the responses of the two major professional accounting bodies to a…
Abstract
Purpose
The purpose of this Australian case study, set in the 1960s, is to comprehensively examine the responses of the two major professional accounting bodies to a financial/corporate/regulatory crisis necessitating the defence of the profession's legitimacy.
Design/methodology/approach
This historical paper draws on surviving primary records and secondary sources and applies the perspectives on the dynamics of occupational groups and the legitimacy typology of Suchman.
Findings
While the history of the accounting profession has been characterized by intra‐professional rivalries, this case study illustrates how such rivalries were put aside on recognising the power of collectivizing in defending the profession's legitimacy. Based on the available evidence, pragmatic legitimacy is shown to have been a key focus of attention by the major accounting bodies involved.
Research limitations/implications
The paper may motivate similar studies in Australia and elsewhere, thus potentially contributing to developing a literature on comparative international accounting history. The evidence for this historical investigation is largely restricted to surviving documents, making it necessary to rely on assessments of the key sources.
Originality/value
In addressing responses to crises in defending the legitimacy of the profession as a whole, the paper makes an original contribution in exploring the relationship between literature on the dynamics of occupational groups and on legitimacy management.
Details
Keywords
Paolo Ferri, Shannon I.L. Sidaway and Garry D. Carnegie
The monetary valuation of cultural heritage of a selection of 16 major public, not-for-profit Australian cultural institutions is examined over a period of almost three decades…
Abstract
Purpose
The monetary valuation of cultural heritage of a selection of 16 major public, not-for-profit Australian cultural institutions is examined over a period of almost three decades (1992–2019) to understand how they have responded to the paradoxical tensions of heritage valuation for financial reporting purposes.
Design/methodology/approach
Accounting for cultural heritage is an intrinsically paradoxical practice; it involves a conflict of two opposite ways of attributing value: the traditional accounting and the heritage professionals (or curatorial) approaches. In analysing the annual reports and other documentary sources through qualitative content analysis, the study explores how different actors responded to the conceptual and technical contradictions posed by the monetary valuation of “heritage assets”, the accounting phraseology of accounting standards.
Findings
Four phases emerge from the analysis undertaken of the empirical material, each characterised by a distinctive nature of the paradox, the institutional responses discerned and the outcomes. Although a persisting heterogeneity in the practice of accounting for cultural heritage is evident, responses by cultural institutions are shown to have minimised, so far, the negative impacts of monetary valuation in terms of commercialisation of deaccessioning decisions and distorted accountability.
Originality/value
In applying the theoretical lens of paradox theory in the context of the financial reporting of heritage, as assets, the study enhances an understanding of the challenges and responses by major public cultural institutions in a country that has led this development globally, providing insights to accounting standard setters arising from the accounting practices observed.
Details
Keywords
This chapter reviews the literature on servitization to understand whether and how mergers and acquisitions (M&As) have been dealt with and what the portrayed consequences are of…
Abstract
This chapter reviews the literature on servitization to understand whether and how mergers and acquisitions (M&As) have been dealt with and what the portrayed consequences are of servitization through M&As. Servitization refers to how manufacturing firms extend and remodel their offerings to focus on value in use rather than product transfer. The rationale of the chapter follows from how business model innovation or business modeling has been predicted as the next M&A wave, while the focus on servitization has been pronounced in research and practice as a means for manufacturing firms to refocus operations during the past decade. The chapter concludes that while the servitization literature is vibrant, the mode of reaching service competence and renewing business is not well explored in the literature. In line with the predicted next M&A wave, servitization through M&As would thereby create an interesting path for future research.