An Empirical Examination of the Market Returns and Financial Performance of Entities Engaged in Sustainability Reporting

The importance of sustainability reporting to external stakeholders is reflected in the advent of various reporting guidelines and government inquiries. However, evidence of the inadequacy of such reporting, coupled with limited evidence of its use by market participants (such as investors and creditors) for resource-allocation decisions, raises questions about the overall value-relevance of sustainability reporting. This study seeks to identify, in the Australian context, whether the level of sustainable reporting is associated with a range of financial and market performance attributes of the firm.     

The Effects of a Booming Export Industry on the Rest of the Economy*

It is argued that the roles of relative factor intensity and of the degree of factor mobility have been neglected in models of booming export industries. This paper shows that, contrary to popular beliefs. the mineral export boom may result in (a) an expansion of all industries, (b) an increase in the profitability of the traditional tradeables sector, and(c) a fall in the relative price of non-tradeables .     

Causal Relationships in Australian Wage Inflation and Minimum Award Rates*

When variables are correlated in time-series studies, it is often difficult to determine which is cause and effect, and in what sense. This paper applies multivariate time-series tests of causality to Australian wage, price, minimum wage award, labour demand and strike (working days lost) variables for 1953-76. The results provide tentative support for a model in which strikes are exogenous:the size of Arbitration Commission awards is determined by strikes (suggesting that a trade union capture theory of Arbitration Commission regulation may apply):money wages are determined by minimum wage awards; and the demand for labour variable (measured in this paper by the ratio of actual to potential output) is determined (in a negative relationship) by money wages.     

The Joy of Giving or Assisted Living? Using Strategic Surveys to Separate Public Care Aversion from Bequest Motives

The “annuity puzzle,” conveying the apparently low interest of retirees in longevity insurance, is central to household finance. Two possible explanations are “public care aversion” (PCA), retiree aversion to simultaneously running out of wealth and being in need of long‐term care, and an intentional bequest motive. To disentangle the relative importance of PCA and bequest motive, we estimate a structural model of the retirement phase using a novel survey instrument that includes hypothetical questions. We identify PCA as very significant and find bequest motives that spread deep into the middle class. Our results highlight potential interest in annuities that make allowance for long‐term care expenses.     

A study of the effects of repeated commercial launderings on the performance of 50/50 polyester/cotton momie cloth

Samples of brown 50% polyester/50% cotton momie cloth with a fluorocarbon finish were commercially laundered using a carbonate-built detergent in soft (0 ppm) water. The appearance of the laundered samples was assessed by subjective pilling ratings and instrumental colour determinations; the performance properties examined were tear and tensile strength, abrasion resistance and ability to release oil. The results showed that pilling was at its maximum after 20 launderings. The depth of colour decreased with increased number of cycles and, in most cases, was not accompanied by change of hue Tear and tensile strength were not affected by the laundering process. The fluorocarbon finish on the unlaundered control increased the weight loss due to Accelerator abrasion, thus that due to repeated launderings was significantly less. The finish protected the fibres from flex abrasion, increasing the number of cycles required to rupture the fabric and only the sample laundered 60 times had significantly greater resistance. The ability to release oil decreased with increased number of launderings. Oil remaining in the fabric was located in the interstices between yarns.