Publication Search Results

Now showing 1 - 7 of 7
  • (2009) Kennan, Mary-Anne; Kingsley, Danny A
    Journal Article
    This paper provides the first full description of the status of Australian institutional repositories. Australia presents an interesting case because of the government’s support of institutional repositories and open access. A survey of all 39 Australian universities conducted in September 2008 shows that 32 institutions have active repositories and by end of 2009, 37 should have repositories. The total number of open access items has risen dramatically since January 2006. Five institutions reported they have an institution–wide open access mandate, and eight are planning to implement one. Only 20 universities have funding for their repository staff and 24 universities have funding for their repository platform, either as ongoing recurrent budgeting or absorbed into their institutions’ budgets. The remaining are still project funded. The platform most frequently used for Australian repositories is Fedora with Vital. Most of the remaining sites use EPrints or DSpace.

  • (2008) Parwada, Jerry
    Journal Article
    Fund managers` bias toward geographically proximate securities is a well-researched phenomenon, yet the origins of managers` location choices have received little empirical scrutiny. This paper traces the employment and geographic heritage of 358 entrepreneurial fund managers and analyzes the determinants of where they locate their firms and stock selections. The evidence suggests that start-ups tend to be based close to the origins of their founders and in regions with more investment management firms, banking establishments, and large institutional money managers. New money managers show a strong local bias in their equity holdings, three times the levels previously documented for mutual funds. The propensity to invest closer to home correlates strongly with the presence of sub-advisory opportunities from institutional investors in the vicinity. While home bias levels between managers who relocate with their start-ups and the rest of the entrepreneurs are similar, preferences for stocks that were formally local persist.

  • (2007) Gallagher, David; Parwada, Jerry; DISHI, E
    Journal Article
    This study examines how the termination of superannuation investment mandates contributes to the departure of top fund managers in companies delegated the portfolio management role. Terminations of superannuation plan mandates increase the probability of a fund company changing the responsible fund manager. Objective-adjusted returns are also significant managerial turnover considerations. These results illustrate that significant losses of superannuation fund clients act as an external control mechanism in the investment management industry that complements internal managerial performance measures.

  • (2007) Parwada, Jerry; Oh, Natalie
    Journal Article
    This paper analyses relations between stock market returns and mutual fund flows in Korea. A positive relationship exists between stock market returns and mutual fund flows, measured as stock purchases and sales and net trading volumes. In aggregate, mutual funds are negative feedback traders. Standard causality tests suggest that it is predominantly returns that drive flows, while stock sales may contain information about returns. After controlling for declining markets, the results suggest Korean equity fund managers tend to increase stock purchases in times of rising market volatility, possibly disregarding fundamental information, and to sell in times of wide dispersion in investor beliefs.

  • (2007) Faff, Robert; Parwada, Jerry; Poh, Hun-Lune
    Journal Article
    We examine the information content of managed fund ratings for Australian retail investors. Because fund ratings, premised on a quantitative-qualitative model, are highly transitory, we question whether investors formulate their investment decisions with respect to changes in ratings and whether ratings, in turn, react to fund flows. We find that information regarding fund flows can be obtained from ratings, and that rating changes can have farreaching effects. Investors flock to newly upgraded funds while they penalize those that have been downgraded by withdrawing funds. Investors are constantly anticipating ratings revisions, particularly downgrades, and we attribute this phenomenon to the role of qualitative factors in the ratings.

  • (2007) Kennan, Mary Anne
    Journal Article
    This paper briefly describes the rapidly changing research evaluation and funding landscape in Australian universities, specifically in relation to open access and institutional repositories. Recent announcements indicate that funding and evaluation bodies are becoming increasingly concerned that publicly funded research be made publicly available. The paper then reports a survey of all levels of academic staff plus research students at one Australian university conducted in May 2006, prior to the introduction of an institutional repository. The survey, in line with previously reported surveys, found that while there was a high level of engagement with scholarly publishing, there was a low level of awareness of, or concern with, either open access (‘green’ or ‘gold’) or the roles repositories can play in increasing accessibility of research. Practically, this indicates that much work needs to be done within this university to increase knowledge of, and change behaviours with regard to, open access and repositories if the university and its academics are to make the most of new funding requirements and research evaluation processes.

  • (2007) Podder, Nripesh; Kalyuga, Slava
    Journal Article
    Based on unit record data from four household surveys conducted by Statistics New Zealand for the years 1983/1984, 1991/1992, 1995/1996 and 1997/1998, this paper addresses some ethnic dimensions of income inequality among New Zealanders over the period of the surveys. It applies alternative techniques of decomposition of the Gini coefficient of inequality by subgroups of population. It then analyses how changes in the incomes of specific population subgroups affect the overall inequality. The results help quantify the economic distances among the different ethnic populations of New Zealand, and indicate how and why these distances have been changing over time.