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
The Market for Technology in Australia. Over the last 5 years, formalised markets for technology have accelerated in the US. However, there is no recognised formal market in Australia. Results from our primary data collection and analysis will highlight whether deficiencies in the market for technology are creating obstacles for the commercialisation of Australian technology. This is a particularly important issue for Australia given our relative isolation arising from geographical distance and ....The Market for Technology in Australia. Over the last 5 years, formalised markets for technology have accelerated in the US. However, there is no recognised formal market in Australia. Results from our primary data collection and analysis will highlight whether deficiencies in the market for technology are creating obstacles for the commercialisation of Australian technology. This is a particularly important issue for Australia given our relative isolation arising from geographical distance and lack of attachment to a major trading bloc such as the EU or NAFTA.Read moreRead less
Information and market price manipulation in trade. As we can see from the financial crisis, speculative trading in financial markets can have real world effects. Inside traders can exploit their information for more profits. At this stage, we do not fully understand the role of diverse information in the financial system and we need better ways to model price manipulation and information in a dynamic setting. This proposal seeks to supply a reference framework for analyzing price manipulatio ....Information and market price manipulation in trade. As we can see from the financial crisis, speculative trading in financial markets can have real world effects. Inside traders can exploit their information for more profits. At this stage, we do not fully understand the role of diverse information in the financial system and we need better ways to model price manipulation and information in a dynamic setting. This proposal seeks to supply a reference framework for analyzing price manipulation. Recently, there has been an increasing interest in the informed trader's dynamic strategy. By strengthening this research area, this project will give new momentum to Australian economic theory.Read moreRead less
State-contingent analysis of productivity, efficiency and innovation. Productivity growth is a fundamental precondition for sustainable improvements in living standards. The main drivers of productivity growth are technological innovation and improvements in the efficiency of resource use. Effective public policy in this area requires identification of these components. This project develops improved productivity measurement methods that are applicable in economic environments characterised b ....State-contingent analysis of productivity, efficiency and innovation. Productivity growth is a fundamental precondition for sustainable improvements in living standards. The main drivers of productivity growth are technological innovation and improvements in the efficiency of resource use. Effective public policy in this area requires identification of these components. This project develops improved productivity measurement methods that are applicable in economic environments characterised by production and/or demand uncertainty. The methods will be used to obtain improved estimates of rates of innovation and changes in the relative efficiency of selected Australian enterprises. The empirical results will inform National Competition Policy and the process of microeconomic reform.Read moreRead less
Iron and phosphorus recovery from ferric precipitation sludge. To minimise health risks and environmental pollution, water and wastewater treatment processes often use iron salts to eliminate phosphate and other pollutants. This generates large amounts of chemical sludge that is typically sent to landfill. The benefits of this new process will be the recovery of both the iron, which can be reused in the process, and the phosphate, which is a key component in fertiliser. Since phosphate is a limi ....Iron and phosphorus recovery from ferric precipitation sludge. To minimise health risks and environmental pollution, water and wastewater treatment processes often use iron salts to eliminate phosphate and other pollutants. This generates large amounts of chemical sludge that is typically sent to landfill. The benefits of this new process will be the recovery of both the iron, which can be reused in the process, and the phosphate, which is a key component in fertiliser. Since phosphate is a limited natural resource with an increasingly high value, the recovery and recycling of this critical element in food production is highly important. The process will also avoid a large part of the sludge production and will make the water treatment processes more cost-effective.Read moreRead less
Novel hybrid silica membranes for desalination. This project aims to produce high flux, highly stable ceramic membranes for use in desalination. This will result in novel, low energy desalination processes, delivering potable water at a greatly reduced cost.
Preventing Early Academic Problems By Improving Working Memory: Translational Randomised Trial
Funder
National Health and Medical Research Council
Funding Amount
$831,085.00
Summary
Learning difficulties are common and can cause school failure and poor self-esteem. They are associated with specific problems with temporarily remembering and using information (‘working memory’). Research suggests that improving working memory might improve academic achievement. We will study this intervention in a large group of primary school children who have poor working memory. If successful, the intervention will provide a way to improve the learning skills of these high-risk children.
Mining venture risk: novel econometric methods to integrate joint financial and geological uncertainty into dynamic risk forecasting measures. The mining industry is nationally important: it contributed $33,927M to Australia's GDP in 2002-3. This project's outcomes - sophisticated statistical and econometric tools - will significantly improve capability for forecasting overall risk to mining projects requiring vast upfront, irreversible investments, and contribute to its efficiency and internati ....Mining venture risk: novel econometric methods to integrate joint financial and geological uncertainty into dynamic risk forecasting measures. The mining industry is nationally important: it contributed $33,927M to Australia's GDP in 2002-3. This project's outcomes - sophisticated statistical and econometric tools - will significantly improve capability for forecasting overall risk to mining projects requiring vast upfront, irreversible investments, and contribute to its efficiency and international competitiveness. Innovative methods driven by data from complex financial and geological systems will integrate price volatility risk and orebody uncertainty in a real options framework, providing holistic, rigorous measurement of mining venture risk. Xstrata Queensland Ltd will strongly support and participate in research training of an identified candidate to deliver discoveries to the wider industry.Read moreRead less
A Cluster RCT Of A Novel Psychological Intervention To Reduce Depression Among At-risk Older Adults Transitioning To Residential Aged Care
Funder
National Health and Medical Research Council
Funding Amount
$893,152.00
Summary
Depression is common in aged care facilities, with many older adults finding the transition extremely difficult. We have developed a simple intervention to help new residents, including those with dementia, to adjust to life in aged care. This program focuses on key aspects of psychological wellbeing, and is designed for widespread use in aged care. We will evaluate the intervention to determine if it is superior to current care approaches in reducing depression and improving quality of life.
Improving Treatment Strategies For Chronic Alphaviral Arthritic Diseases
Funder
National Health and Medical Research Council
Funding Amount
$643,624.00
Summary
Chikungunya virus and Ross River virus cause epidemics of acute and chronic arthritic disease in humans, which is often poorly managed with current treatments. This grant seeks to understand the mechanisms that give rise to disease in order to identify improved treatment strategies. Both the persistence of viral replication in joint tissues and unnecessary inflammatory responses appear to be important factors driving chronic disease.