Protecting Australia’s brand assets and stakeholder interests. International accounting standards have recently been harmonised to allow firms to recognise the value of purchased brands on their balance sheets, subject to an annual test to verify that value has not been impaired. There are no widely accepted methodologies with which to undertake such tests, despite the requirement for the balance sheet to provide a true and fair view of financial position. This research will develop three approa ....Protecting Australia’s brand assets and stakeholder interests. International accounting standards have recently been harmonised to allow firms to recognise the value of purchased brands on their balance sheets, subject to an annual test to verify that value has not been impaired. There are no widely accepted methodologies with which to undertake such tests, despite the requirement for the balance sheet to provide a true and fair view of financial position. This research will develop three approaches to calibrate brand impairment and draw lessons from applying them over a three year period. The outputs are twofold: first, a suite of detailed methods for accountants, auditors and financial analysts to measure and diagnose brand value; second, several key indicators that can be used to monitor signs of brand impairment.Read moreRead less
Risk and Australian public policy. This project will develop fundamentally new approaches to the theory of risk and uncertainty and their role in the design and management of complex projects and policy initiatives. The results will be applied to the central economic policy choices facing Australia; those connected with globalisation and microeconomic reform. This project will show how the latest advances in economic theory can help to illuminate the major issues in the Australian public debate, ....Risk and Australian public policy. This project will develop fundamentally new approaches to the theory of risk and uncertainty and their role in the design and management of complex projects and policy initiatives. The results will be applied to the central economic policy choices facing Australia; those connected with globalisation and microeconomic reform. This project will show how the latest advances in economic theory can help to illuminate the major issues in the Australian public debate, from the role of government and the market to the assessment of standards of living. The project will also help to bridge the gap between economics and other social sciences.Read moreRead less
Understanding Dynamic Aspects of Economic Inequality. This project aims to study dynamic aspects of inequality in Australia by exploring the changes in labour and housing market conditions and their relation to the changes in the distribution of income and wealth over the last decade. The project also aims to develop new econometric techniques to examine the factors that are responsible for the changes in the distribution of income and wealth and a range of labour and housing market outcomes. Pa ....Understanding Dynamic Aspects of Economic Inequality. This project aims to study dynamic aspects of inequality in Australia by exploring the changes in labour and housing market conditions and their relation to the changes in the distribution of income and wealth over the last decade. The project also aims to develop new econometric techniques to examine the factors that are responsible for the changes in the distribution of income and wealth and a range of labour and housing market outcomes. Particular attention will be paid to the role of the changes in individual-specific characteristics (such as education, age, employment status, and occupation) and neighbourhood-specific characteristics (such as house prices and population ageing) in producing inequality.Read moreRead less
The Role of the Family in Facilitating the Human Capital and Labour Market Investments of Young Australians. A nation's future lies in its young people, and society as a whole must take part in ensuring that today's youth acquire the skills, experience, and training necessary not only to cope, but to thrive. The proposed research will make a substantial step forward in understanding how families make decisions about supporting their young adult children and how those decisions are shaped by Aust ....The Role of the Family in Facilitating the Human Capital and Labour Market Investments of Young Australians. A nation's future lies in its young people, and society as a whole must take part in ensuring that today's youth acquire the skills, experience, and training necessary not only to cope, but to thrive. The proposed research will make a substantial step forward in understanding how families make decisions about supporting their young adult children and how those decisions are shaped by Australian social policy. The findings will inform social policy development by providing evidence on pressing issues such as the effects of rising house prices or weakening labour markets on young Australians' ability to invest in education.Read moreRead less
How do company announcements affect trading frequency in stocks? This project addresses the question of how financial markets respond to news by investigating how company announcements affect trading patterns in Australian banking stocks. Analysis will be based on new extensions to autoregressive conditional hazard (ACH) models, with research focussing on how to incorporate announcement variables into an ACH framework and how to modify standard ACH analysis to account for simultaneous transactio ....How do company announcements affect trading frequency in stocks? This project addresses the question of how financial markets respond to news by investigating how company announcements affect trading patterns in Australian banking stocks. Analysis will be based on new extensions to autoregressive conditional hazard (ACH) models, with research focussing on how to incorporate announcement variables into an ACH framework and how to modify standard ACH analysis to account for simultaneous transactions, market frictions and spillover effects. The results of this research will assist government and companies in choosing announcement times, aid traders in portfolio adjustment and will lead to a better understanding of the microstructure of Australian stock markets.Read moreRead less
Experimental Demonstrations of New Theorems of Nonequilibrium Thermodynamics. In the last decade, two theorems have been proposed to revolutionise the field of thermodynamics. These theorems lift the restriction of the thermodynamic limit, allowing thermodynamic concepts to be applied to small systems such as nanomachines, and characterise systems that may be far-from-equilibrium. These theorems are at odds with a traditional understanding of 19th century thermodynamics where equilibrium is cent ....Experimental Demonstrations of New Theorems of Nonequilibrium Thermodynamics. In the last decade, two theorems have been proposed to revolutionise the field of thermodynamics. These theorems lift the restriction of the thermodynamic limit, allowing thermodynamic concepts to be applied to small systems such as nanomachines, and characterise systems that may be far-from-equilibrium. These theorems are at odds with a traditional understanding of 19th century thermodynamics where equilibrium is central and the Second Law inviolate. However they are critical to the application of thermodynamic concepts to modern systems of the 21st century. Using Optical Tweezers, we will experimentally demonstrate these theorems, present irrefutable evidence of their validity, and demonstrate their application in modern systems.Read moreRead less
Experimental Demonstrations of Violations of the Second Law of Thermodynamics. Inventors and engineers strive to scale-down machines, devices and engines to nanometre sizes for a range of technological purposes and scientists investigate protein motors to understand their operation in hopes of modifying their biological behaviour. However, according to a new theorem in Non-equilibrium Statistical Mechanics, there is a fundamental limit to this scaling-down of engines: such nanomachines, includi ....Experimental Demonstrations of Violations of the Second Law of Thermodynamics. Inventors and engineers strive to scale-down machines, devices and engines to nanometre sizes for a range of technological purposes and scientists investigate protein motors to understand their operation in hopes of modifying their biological behaviour. However, according to a new theorem in Non-equilibrium Statistical Mechanics, there is a fundamental limit to this scaling-down of engines: such nanomachines, including protein motors, will run in "reverse" for appreciable amounts of time and in violation of the Second Law of Thermodynamics. We propose to demonstrate this inescapable, operational limit in nanotechnology with experiments using an Optical Tweezers apparatus.Read moreRead less
Improving water quality modelling by better understanding solute transport. Poor stream water quality is a critical problem in Australia and globally. Stream water quality depends directly on pathways and time taken for water to transport pollutants through catchments. Predicting these pathways is highly challenging and currently requires specialised data. This project aims to better model the movement of water from rainfall to streams, enable greatly improved use of water quality data routinely ....Improving water quality modelling by better understanding solute transport. Poor stream water quality is a critical problem in Australia and globally. Stream water quality depends directly on pathways and time taken for water to transport pollutants through catchments. Predicting these pathways is highly challenging and currently requires specialised data. This project aims to better model the movement of water from rainfall to streams, enable greatly improved use of water quality data routinely collected in Australia's catchments and thereby better predict water quality behaviour. Proposed field studies aim to support this development. The outcomes sought are improved planning and management of water quality in our rivers, lakes and estuaries, improved health of these water bodies and improved water supplies.Read moreRead less
An Economic Analysis of the Effect of Networks on Jobs and Mental Health in China: Patterns, Consequences and Policy Implications. China is a priority neighbour whose growth and stability will have a large impact on Australia. Urbanisation and economic reforms change the incentives to maintain and form social relations. Researching these changes to help policy makers keep the effects within acceptable borders is a top priority of the Chinese government and entirely in Australia's own interest. T ....An Economic Analysis of the Effect of Networks on Jobs and Mental Health in China: Patterns, Consequences and Policy Implications. China is a priority neighbour whose growth and stability will have a large impact on Australia. Urbanisation and economic reforms change the incentives to maintain and form social relations. Researching these changes to help policy makers keep the effects within acceptable borders is a top priority of the Chinese government and entirely in Australia's own interest. The project thus serves as a bridge between policymakers and researchers: it is done in consultation with AusAID, the Chinese ministry for labour, and international scientific organisations such as the Ford Foundation and the German Institute of Labour (IZA)Read moreRead less
Promoting Plant Innovation in Australia: maximising the benefits of intellectual property for Australian agriculture. The development of new plant varieties is crucial to the ongoing competitiveness and sustainability of Australian agriculture. It also has wider social, cultural and economic consequences. Intellectual property laws have the potential to promote and hinder the developments of new plant varieties. In recent years there has been a shift towards the use of patents to protect plant i ....Promoting Plant Innovation in Australia: maximising the benefits of intellectual property for Australian agriculture. The development of new plant varieties is crucial to the ongoing competitiveness and sustainability of Australian agriculture. It also has wider social, cultural and economic consequences. Intellectual property laws have the potential to promote and hinder the developments of new plant varieties. In recent years there has been a shift towards the use of patents to protect plant innovations: a trend which has the potential to transform existing research and development arrangements and industry practices in Australia. By providing policy-makers and stakeholders with recommendations on how to respond to and manage these changes, the project will promote plant breeding in Australia and also enhance the sustainability and competitiveness of Australian agriculture.Read moreRead less