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Insurance in the Industry 4.0 environment: A literature review, synthesis, and research agenda 工业4.0环境下的保险：文献综述、综述和研究议程
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-11-02 DOI: 10.1177/03128962221132458
Ritu Srivastava, A. Prashar, S. Iyer, Piyush Gotise
{"title":"Insurance in the Industry 4.0 environment: A literature review, synthesis, and research agenda","authors":"Ritu Srivastava, A. Prashar, S. Iyer, Piyush Gotise","doi":"10.1177/03128962221132458","DOIUrl":"https://doi.org/10.1177/03128962221132458","url":null,"abstract":"Commodification and thinning margins of insurers have increased competition in the industry. Accessing accurate data and its meaningful analysis is becoming vital. The rise of digital technologies driven by the fourth industrial revolution (Industry 4.0) enables this but also poses new risks to insurers. The literature is evolving, and most reviews have focused on technologies or insurance value chain aspects. This systematic review of research on digital technologies in insurance discusses their benefits, enablers and inhibitors with specific reference to Industry 4.0–driven changes and identifies opportunities and imminent changes in the industry. This article discusses directions for future research. JEL Classification: M150 IT Management","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48721058","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
Liquidity shocks and pension fund performance: Evidence from early access 流动性冲击与养老基金业绩：来自早期准入的证据
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-11-02 DOI: 10.1177/03128962221127804
James Brugler, Minsoo Kim, Zhuo Zhong
{"title":"Liquidity shocks and pension fund performance: Evidence from early access","authors":"James Brugler, Minsoo Kim, Zhuo Zhong","doi":"10.1177/03128962221127804","DOIUrl":"https://doi.org/10.1177/03128962221127804","url":null,"abstract":"We study how expectations of fund flows causally affect fund performance by exploiting a quasi-natural experiment in the Australian pension system where an unexpected policy change temporarily allowed fund withdrawals from a prespecified date in the future. Using fractions of young members, middle-aged members, and government co-contributions for low-income earners as instrumental variables, we find an insignificant effect of expected fund outflows on performance. A potential explanation is that Australian superannuation funds preemptively engage in liquidity management in response to changes in expectations of future fund flows and this helps to limit direct and indirect costs in the rebalancing process. JEL Classification: G11, G12, G14, G23, G51","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42661540","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Disclosure policy choice, stock returns and information asymmetry: Evidence from capital expenditure announcements 披露政策选择、股票收益与信息不对称——来自资本支出公告的证据
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-10-31 DOI: 10.1177/03128962221127128
Jianguo Chen, David C. Smith
{"title":"Disclosure policy choice, stock returns and information asymmetry: Evidence from capital expenditure announcements","authors":"Jianguo Chen, David C. Smith","doi":"10.1177/03128962221127128","DOIUrl":"https://doi.org/10.1177/03128962221127128","url":null,"abstract":"This article investigates whether firms commit ex-ante to higher levels of investment transparency and the impact of transparency on stock returns and information asymmetry. We construct a novel measure of investment transparency based upon the extensiveness of profitability forecasts and cost disclosures in new project-level capital investment announcements. Using cross-sectional regression, we find that prior to announcement greater investment transparency is associated with lower information asymmetry. We further show that rather than reporting information strategically on a project-by-project basis, managers commit ex-ante to a disclosure policy that influences the disclosure level of new project announcements, and that a firm-level commitment to fuller disclosure reduces information asymmetry in the days surrounding the announcement. Using event study methodology, we also find that investors react more positively to announcements displaying greater investment transparency. G14, D83, G31, G30, G38","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47960949","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A collision of strategic orientations: Entrepreneurial orientation and customer relationship orientation in a collectivist cultural context 战略取向的碰撞:集体主义文化背景下的企业取向与顾客关系取向
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-10-31 DOI: 10.1177/03128962221130943
L. Ngo, G. Shinkle, P. Patterson
{"title":"A collision of strategic orientations: Entrepreneurial orientation and customer relationship orientation in a collectivist cultural context","authors":"L. Ngo, G. Shinkle, P. Patterson","doi":"10.1177/03128962221130943","DOIUrl":"https://doi.org/10.1177/03128962221130943","url":null,"abstract":"Drawing upon strategic orientation logics and culture theory, this article proposes that entrepreneurial orientation and customer relationship orientation are generally complementary but become conflictual at high levels due to the organizational response to the practices these orientations invoke in a collectivist cultural context. We test this hypothesis with survey data of 146 firms. We find an increasing-return effect of customer relationship orientation on firm performance. Results also reveal a shape-flip phenomenon that when entrepreneurial orientation is low, customer relationship orientation has a J-shape (increasing returns) relationship with firm performance; however, when entrepreneurial orientation is high, customer relationship orientation has an inverted U-shape relationship. JEL Classification: M3 Marketing and Advertising","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43072686","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The audit market for listed Australian companies from 2012 to 2018: A state of play 2012-2018年澳大利亚上市公司审计市场现状
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-10-21 DOI: 10.1177/03128962221124642
Elizabeth Carson, Y. Fu, Ulrike Thürheimer, Yang Xu
{"title":"The audit market for listed Australian companies from 2012 to 2018: A state of play","authors":"Elizabeth Carson, Y. Fu, Ulrike Thürheimer, Yang Xu","doi":"10.1177/03128962221124642","DOIUrl":"https://doi.org/10.1177/03128962221124642","url":null,"abstract":"Motivated by recent regulatory scrutiny of auditing in Australia, we provide an overview of the audit market for Australian listed companies from 2012 to 2018. Using descriptive analyses, we explore audit market competition, the provision of non-audit services (NAS), and audit firm tenure. We find that the Australian audit market is highly segmented. Big 4 firms increasingly dominate the larger client segment, while Non-Big 4 firms focus on medium and smaller clients. Auditor-provided NAS fees represent a relatively small fraction of audit fees for smaller clients, but a relatively high fraction for larger clients. We further observe that the share of total revenue from NAS of Big 4 firms increases over time. Finally, a relatively small percentage of clients has long audit firm tenure, and that long tenure is more common in the larger client segments. We discuss the implications of these findings and research opportunities that emerge. JEL Classification: D40, L11, M42, L84","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44143765","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Business school doctoral programs and the future of business research 商学院博士项目与商业研究的未来
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-10-18 DOI: 10.1177/03128962221124349
Stephen S. Taylor, James Wakefield
{"title":"Business school doctoral programs and the future of business research","authors":"Stephen S. Taylor, James Wakefield","doi":"10.1177/03128962221124349","DOIUrl":"https://doi.org/10.1177/03128962221124349","url":null,"abstract":"We apply a neo-institutional theoretical lens to interpret the extent of any significant similarities or differences in doctoral programmes across business schools in Australia and New Zealand (ANZ). Overall, we characterise the state of doctoral education in business as lacking adequate funding, primarily attracting students with limited professional or industrial experience but having diverse approaches to the role of formal training as part of the doctoral programme. Although we view these findings as somewhat inevitable given institutional and isomorphic pressures, they are of concern if ANZ business schools are to produce research that is both rigorous and relevant beyond the academy. Comparisons across institutional groupings and discipline areas largely suggest relatively common approaches to doctoral programme design and administration across and within institutions. JEL Classification: M00","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44866316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Social connections, CEO turnover and corporate policy change 社会关系、CEO离职与公司政策变化
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-10-18 DOI: 10.1177/03128962221126555
Prabashi Dharmasiri
{"title":"Social connections, CEO turnover and corporate policy change","authors":"Prabashi Dharmasiri","doi":"10.1177/03128962221126555","DOIUrl":"https://doi.org/10.1177/03128962221126555","url":null,"abstract":"We examine how social connections between successive CEOs influence policy changes enacted by incoming CEOs. Using forced turnovers, we document fewer policy changes when incoming CEOs are connected to outgoing CEOs. Our results remain consistent when exposed to tests assessing endogeneity concerns such as omitted variables, selection biases and homophily concerns. We find that the reduction in policy changes is more prominent when social ties are stronger due to greater association between the individuals. Analyses further reveal that such limited policy changes enacted by connected incoming CEOs could deteriorate firm performance, highlighting the potential importance of the findings in the CEO selection process. JEL Classification: D91, J63, M12","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41697053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Capital budgeting and Kelly betting 资本预算和Kelly博彩
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-09-14 DOI: 10.1177/03128962221118837
D. Johnstone
{"title":"Capital budgeting and Kelly betting","authors":"D. Johnstone","doi":"10.1177/03128962221118837","DOIUrl":"https://doi.org/10.1177/03128962221118837","url":null,"abstract":"Capital investments are easily interpreted as bets and vice versa. The mathematical theory of betting, often known as ‘Kelly betting’, has implications for all financial decision-making under uncertainty. There have been attempts to exploit Kelly betting methods in financial portfolio optimization, but there has been little analysis of conventional capital budgeting methods against a Kelly framework. A simple comparison between methods reveals that capital budgeting decisions made using conventional finance methods can embed the error that Kelly theorists call ‘overbetting’. The outcome of overbetting is that the firm reduces its expected compound capital growth rate while simultaneously adding to the volatility of its anticipated growth path. That unfortunate pairing is mathematically precluded under Kelly betting rules but is implicitly, albeit unknowingly, sanctioned by accepted capital budgeting practices in finance. JEL Classification: G11, G12, G31","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49638726","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Stochastic modelling of the home equity access scheme 住房权益准入方案的随机建模
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-08-31 DOI: 10.1177/03128962221120954
Tyson Lamarra, Aaron Bruhn, Michael Miller
{"title":"Stochastic modelling of the home equity access scheme","authors":"Tyson Lamarra, Aaron Bruhn, Michael Miller","doi":"10.1177/03128962221120954","DOIUrl":"https://doi.org/10.1177/03128962221120954","url":null,"abstract":"The housing wealth of elderly homeowners is emerging as a key asset to support Australians in retirement. The Australian government's Home Equity Access Scheme allows elderly Australians to access the equity in their home and utilise this illiquid wealth. Through stochastic modelling of the scheme, this paper compares two strategies of drawing down housing wealth and provides a framework for comparing strategies that balances income, flexibility and longevity protection. The first strategy supplements other sources of retirement income, whereas the second strategy is similar to a contingent deferred annuity, with non-housing assets drawn down first. Although results vary by cohort and objective, the role of the scheme as a vehicle to protect against poverty in old age is emphasised. This reinforces the potential of home ownership as a financial asset in retirement, in addition to benefits conferred through housing ownership over the entire life cycle. JEL Classification: G22,G51","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46431011","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
State ownership, sustainable supply chain management, and firm performance: A natural experiment of the US–China trade conflict 国家所有权、可持续供应链管理和企业绩效：美中贸易冲突的自然实验
IF 4.8 4区 管理学
Australian Journal of Management Pub Date : 2022-08-13 DOI: 10.1177/03128962221116147
Yunting Feng, Yusi Jiang
{"title":"State ownership, sustainable supply chain management, and firm performance: A natural experiment of the US–China trade conflict","authors":"Yunting Feng, Yusi Jiang","doi":"10.1177/03128962221116147","DOIUrl":"https://doi.org/10.1177/03128962221116147","url":null,"abstract":"Under the increased global uncertainty, this study extends prior research on sustainable supply chain management (SSCM) and firm performance by investigating the divergent performance outcomes between state-owned enterprises (SOEs) and non-SOEs, before and after the US–China trade conflict. Based on a sample of 7647 firm-year observations of Chinese listed firms, we found that SOEs experienced less severe performance impact from the trade conflict. Moreover, SOEs with more SSCM practices, including supplier management and customer cooperation, could harvest more performance improvement after the trade conflict, while non-SOEs receive performance reduction by doing so. Theoretical and practical implications are provided. JEL classification: C12, D21, F51, L33","PeriodicalId":47209,"journal":{"name":"Australian Journal of Management","volume":null,"pages":null},"PeriodicalIF":4.8,"publicationDate":"2022-08-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41371316","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
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