Business

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  • (2020) Fong, Mandy
    Thesis
    Self-efficacy has a significant positive influence on one’s efforts, thoughts, feelings and behaviours. This dissertation centres on parenting self-efficacy (PSE), which describes a perceived ability to effectively perform the parenting role, exploring whether it spills over to positively influence employee engagement, performance and wellbeing. This dissertation is comprised of three studies. Study 1 examines whether and how PSE varies across child development stages. It also investigates the role of PSE in both work-to-family and family-to-work spillover relationships. Three PSE classes (i.e., low, moderate, and high) were detected over a 12-year period, and PSE was found to be both a negative predictor and outcome of work-family conflict over time. These findings helped unpack the dynamic nature of PSE across infancy and early adolescence, and gain an initial understanding of the longitudinal PSE-work spillover relationships. Study 2 further expands the PSE literature by developing a multidimensional PSE scale with the use of a mixed-methods research approach. The findings of the qualitative interviews suggested that parenting was multifaceted, and that parents might have a different level of self-efficacy across various parenting areas. The scale was then validated by analysing the results of two quantitative surveys, which demonstrated that each PSE dimension was associated with a specific work outcome. This showed that PSE was a multidimensional construct consisting of PSE task, regulatory, resource (partner) and resource (others). Extending the findings of both Studies 1 and 2, Study 3 utilises the experience sampling method to examine whether and how the daily fluctuations in multidimensional PSE affect work outcomes. Three PSE classes (i.e., low, moderate and high) were also found for PSE regulatory and resource (partner) across five days. Importantly, both PSE regulatory and resource (partner) positively predicted parents’ Friday work engagement and job performance. In summary, all three studies support that PSE is a multidimensional and/ or dynamic construct that impacts various work outcomes over time. This series of studies also provides evidence for the existence of a moderate PSE class that has been largely ignored in the literature, and is vital because this level of PSE also enhances work outcomes. These findings provide both theoretical and practical implications and important directions for future research.

  • (2021) Besley, Michael
    Thesis
    Both industry and academic research document the sustained outperformance of Australian small capitalisation (cap) managers with regard to market benchmarks and standard academic models. In contrast to both their large company peers and overseas fund manager returns, the high relative returns generated by these small company managers have continued despite increased competition from new managers. This paper confirms the persistence of these anomalous returns and explores the sources of alpha generation by Australian small cap managers. The commonly used Carhart factor model does not explain the persistence of this alpha. Carhart alpha averages 0.3% per month for the group, with 22 out of 46 funds having statistically significant alphas. By adding a combination of factors to the standard Carhart model approximately two thirds of this alpha can be explained. These factors include betting against beta, avoidance of stocks with lottery characteristics, a preference for stocks with strong profitability and strong balance sheets while avoiding ‘junk’ stocks. After controlling for all these factors, average alpha declines to 0.08% per month with only four funds still having statistically significant alpha. While most managers avoid high beta and lottery stocks, the better performing funds demonstrate higher loadings away from lottery and distressed stocks and towards profitability factors than their poorer performing peers.