Chief executive officer pay, incentives, talent and risk-taking: Excessive pay, regulation and the global financial crisis. The Prime Minister has requested the regulators, APRA and Treasury, to come up with rules that would prevent a repeat of the trillion dollar bailouts and guarantees to the financial sector and banks at risk of failure. Excessive pay and risk-taking by bank executives shoulder made the blame for the global crisis that has already cost Australian investors and taxpayers a siz ....Chief executive officer pay, incentives, talent and risk-taking: Excessive pay, regulation and the global financial crisis. The Prime Minister has requested the regulators, APRA and Treasury, to come up with rules that would prevent a repeat of the trillion dollar bailouts and guarantees to the financial sector and banks at risk of failure. Excessive pay and risk-taking by bank executives shoulder made the blame for the global crisis that has already cost Australian investors and taxpayers a sizeable portion of the nation's wealth. The project will greatly assist the regulators in this task. It will also identify compensation practices that reward good long-term performance without excessive pay. This could dramatically raise the performance of Australian companies and ameliorate the problem of dissatisfied investors and taxpayers.Read moreRead less
Human-capital acquisition, technological improvement and product-market competition: theory and evidence. Japan has achieved its economic growth at a remarkable pace in the postwar period, and has become one of Australia's most important trade partners. This project is expected to benefit the Australian business community and governmental institutions by offering systematic investigations, both theoretically and empirically, on the recent transition taking place in the Japanese economy from prev ....Human-capital acquisition, technological improvement and product-market competition: theory and evidence. Japan has achieved its economic growth at a remarkable pace in the postwar period, and has become one of Australia's most important trade partners. This project is expected to benefit the Australian business community and governmental institutions by offering systematic investigations, both theoretically and empirically, on the recent transition taking place in the Japanese economy from previously unexplored perspectives by capturing interconnections among employment/labour market practices, product-market competition, and government-business relationships. It is envisaged that Australian industries and government could gain useful information from this project for effective formulation of their international trade strategies and policies.Read moreRead less
Small firms' finances: effects on employment, wages and growth. The project aims to estimate how difficulties in accessing financial and credit markets affect small and medium enterprise (SME) decisions about employment, wages, entry and exit. Although the SME sector is Australia’s largest employer, the extent to which financial constraints affect these firms' market performance and their ability to create and sustain employment is unknown. The project plans to use an econometric analysis of fir ....Small firms' finances: effects on employment, wages and growth. The project aims to estimate how difficulties in accessing financial and credit markets affect small and medium enterprise (SME) decisions about employment, wages, entry and exit. Although the SME sector is Australia’s largest employer, the extent to which financial constraints affect these firms' market performance and their ability to create and sustain employment is unknown. The project plans to use an econometric analysis of firm level panel data to fill this gap. The intended outcome is micro-econometric findings tailored to improve targeted labour and financial policy. The expected benefit is to provide input to policy responses that support employment, productivity and wages in volatile market conditions.Read moreRead less