Quantification issues in corporate valuation, the cost of capital, and optimal capital structure. An estimate of the firm's cost of capital is probably the most important calculation required in corporate finance. It is used as the discount rate in valuation and capital budgeting decisions and forms the basis of pricing structures for many regulated industries. Corporate finance theory has identified the key inputs used to calculate the cost of capital, but the current literature falls short o ....Quantification issues in corporate valuation, the cost of capital, and optimal capital structure. An estimate of the firm's cost of capital is probably the most important calculation required in corporate finance. It is used as the discount rate in valuation and capital budgeting decisions and forms the basis of pricing structures for many regulated industries. Corporate finance theory has identified the key inputs used to calculate the cost of capital, but the current literature falls short of precisely quantifying and measuring many of these inputs. The outcomes from this project will be a framework to quantify three key aspects of the cost of capital - the value of dividend imputation tax credits, the assessment of the optimal capital structure for the firm (in particular, the quantification of bankruptcy and agency costs associated with debt financing), and the estimation of the firm's marginal tax rate.Read moreRead less
Institutional Governance Systems and Sustainability: The Transformation of Resource Industries in the United States and Australia 1974-2004. Variations in industry performance within and across nations has resulted in renewed interest in the institutional governance systems that generate national competitive advantage and innovation. There has also been an increased focus on the impact of sustainability and environmental costs on corporations. The significance of this project to the nation and t ....Institutional Governance Systems and Sustainability: The Transformation of Resource Industries in the United States and Australia 1974-2004. Variations in industry performance within and across nations has resulted in renewed interest in the institutional governance systems that generate national competitive advantage and innovation. There has also been an increased focus on the impact of sustainability and environmental costs on corporations. The significance of this project to the nation and the community is that it develops an understanding of the role played by industry institutions in transforming corporate and industry approaches to sustainability. This study will show how industries and corporations respond to sustainability over time and the impact of these changes on major stakeholders (communities; shareholders; employees).Read moreRead less
Quantifying the impacts of environmental stress on marine microorganisms. Microorganisms underpin marine ecosystem health, yet there is limited understanding of how they will respond to different environmental pressures. This project will resolve this critical knowledge gap by developing a unique molecular platform for deriving quantitative stress thresholds for microbial communities inhabiting key reef habitats (seawater, sediments, invertebrates). Quantifying how reef microorganisms respond to ....Quantifying the impacts of environmental stress on marine microorganisms. Microorganisms underpin marine ecosystem health, yet there is limited understanding of how they will respond to different environmental pressures. This project will resolve this critical knowledge gap by developing a unique molecular platform for deriving quantitative stress thresholds for microbial communities inhabiting key reef habitats (seawater, sediments, invertebrates). Quantifying how reef microorganisms respond to a broad suite of environmental perturbations (temperature, nutrients, contaminants), will generate stress-response data that can be incorporated alongside eukaryotic data in environmental assessments, greatly improving the ecological relevance and reliability of risk and vulnerability assessments.Read moreRead less
A 140,000 year insight into the imprint of climate and humans on Australia. Before the arrival of Europeans, two events shaped Australia's current landscapes and biota more than any others: climate change during the glacial cycle and the arrival of humans on the continent. However, the full scale of these events is not well understood. High resolution analyses of two continuous 140 000 year old sediment deposits will be used in this project to fill this void and answer fundamental questions abou ....A 140,000 year insight into the imprint of climate and humans on Australia. Before the arrival of Europeans, two events shaped Australia's current landscapes and biota more than any others: climate change during the glacial cycle and the arrival of humans on the continent. However, the full scale of these events is not well understood. High resolution analyses of two continuous 140 000 year old sediment deposits will be used in this project to fill this void and answer fundamental questions about how current Australian environments came to be.Read moreRead less
The last glaciation maximum climate conundrum and environmental responses of the Australian continent to altered climate states. This project will show how climate systems in south east Australia responded to large scale global change the last time this happened, which was about 21,000 years ago. By determining the climate response in Australia to this change, this project will help predict future response in rainfall and temperature to human-induced and natural climate change.
Development of a heatwave definition using the health risk-based metrics. Climate change is increasingly recognised as this century's biggest global health threat, but the health consequences of climate change remain to be quantified. A typical example is health risks from heatwaves which kill more people than any other natural hazard in Australia, but few comprehensive datasets are available on what affects heatwaves can have on population health and well-being, and how such evidence can be tra ....Development of a heatwave definition using the health risk-based metrics. Climate change is increasingly recognised as this century's biggest global health threat, but the health consequences of climate change remain to be quantified. A typical example is health risks from heatwaves which kill more people than any other natural hazard in Australia, but few comprehensive datasets are available on what affects heatwaves can have on population health and well-being, and how such evidence can be translated into policy. This project aims to understand the health risks associated with heatwaves, to develop health risk-based metrics to define a heatwave across different areas, and to evaluate its implications for the development of social and health policies within an Australian context.Read moreRead less
Warming up predator-prey interactions. Predator-prey interactions are the building blocks of communities, but these will change with shifts in distribution due to carbon dioxide (CO2)-induced increases in temperature. Coral reefs are particularly vulnerable and the project will explore how temperature elevation will influence the physiological performance and ecology of fish to alter these fundamental interactions.
Ancient Ecology: Changes in penguin diet over ~30,000 years in Antarctica. This project proposes the first direct study of ancient ecology using a combination of second-generation DNA sequencing and targeted gene recovery. The food web of the Antarctic Ocean is a classic textbook example of energy and nutrient cycling in the marine environment. Although a great deal is known about the current status of this food web, understanding how this complex set of predator / prey relationships have change ....Ancient Ecology: Changes in penguin diet over ~30,000 years in Antarctica. This project proposes the first direct study of ancient ecology using a combination of second-generation DNA sequencing and targeted gene recovery. The food web of the Antarctic Ocean is a classic textbook example of energy and nutrient cycling in the marine environment. Although a great deal is known about the current status of this food web, understanding how this complex set of predator / prey relationships have changed over long periods of time is vital to understanding the nature of the system itself. The project intends to track changes in the diet of Adélie penguins from serially preserved ancient fecal (guano) remains dating back approximately 30,000 years. These remains are known to contain microscopic remnants of penguin prey.Read moreRead less
Advancing knowledge of microbial symbioses underpinning coral health and reef resilience and predicting their responses to climate change. Coral reefs are complex, diverse ecosystems in which microbial communities form associations with host corals. However, the roles these associations play in coral stress responses are unknown. This project unlocks the black-box of coral microbial complexity and determines how the reef’s smallest members have the greatest influence on reef health.
Global climate change and the impacts of temperature extremes on terrestrial biodiversity. Increasing severity of climate extremes is a disturbing implication of global climate change; yet little is known about the effects of such extremes on the natural world. This project aims to understand the vulnerability of biodiversity to current and future extremes, and to inform conservation efforts and minimise future impacts.