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Books

Clarke, T. 2017, Corporate Governance: Cycles of Crisis and Regulation, Sage, Los Angeles.

Clarke, T. 2017, Innovation in the Asia Pacific: From Manufacturing to Knowledge Economies, Springer, Singapore.

Clarke, T. 2017, Oxford Handbook of the Corporation, Oxford University Press, Oxford.

Clarke, T. & Klettner, A. 2017, The Global Financial Crisis and Regulatory Response: A Concise Guide, Cambridge University Press, Cambridge.

Klettner, A. 2017, Corporate Governance Regulation The changing roles and responsibilities of boards of directors, Routledge, UK.
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Corporate governance regulation has been through numerous cycles of reform, and yet we still see instances of companies collapsing suddenly. Codes of corporate governance have been implemented in most developed countries, recommending detailed governance frameworks for publicly listed companies and their boards, but our understanding of how these codes influence behaviour is still limited. In this book, Alice Klettner draws on the domains of law and business to explore the effectiveness of corporate governance codes. Using interview evidence from company directors and officers, as well as published evidence of companies’ corporate governance systems, she discusses the theory and practice of corporate governance and its regulation – with a focus on how corporate governance codes can affect board behaviour and company performance. This interdisciplinary book will be valuable reading for advanced students and researchers of corporate governance, and will also be directly relevant to governance practitioners and policymakers.

Rowley, C. 2017, The Changing Face of Corruption in the Asia-Pacific: Current Perspectives and Future Challenges, First, Elsevier, Amsterdam and Oxford.
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The Changing Face of Corruption in the Asia Pacific: Current Perspectives and Future Challenges is a contemporary analysis of corruption in the Asia-Pacific region. Bringing academicians and practitioners together, contributors to this book discuss the current perspectives of corruption’s challenges in both theory and practice, and what the future challenges will be in addressing corruption’s proliferation in the region.

Chapters

Adriaanse, J.A. 2017, 'Gender diversity in the governance of international sport federations' in Schulenkorf, N. & Frawley, S. (eds), Critical Issues in Global Sport Management, Routledge, Abingdon, pp. 23-37.
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Adriaanse, J.A., Cobourn, S. & Frawley, S. 2017, 'Governance, CSR and diversity: a critical field of study in global sport management' in Schulenkorf, N. & Frawley, S. (eds), Critical Issues in Global Sport Management, Routledge, Abingdon, pp. 9-22.
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Benn, S.H. 2017, 'Drivers of Change' in Alas, G. & Ingley, C. (eds), Corporate Behaviour and Sustainability, Routledge, London and New York, pp. 173-195.
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Clarke, T. & Gholamshahi, S. 2017, 'Corporate Governance and Inequality: The Impact of Financialisation and Shareholder Value' in Karyotis, C. & Alijani, S. (eds), Finance and Economy for Society: Integrating Sustainability, Emerald, Bingley, UK, pp. 27-55.
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Abstract Purpose The purpose of this chapter is to analyse how in recent years the rediscovery that extreme inequality is returning to advanced economies and has become widespread. What is at issue are the causes of this inequality. It is becoming clear that the wider population, particularly in Anglo-American economies have not shared in the growing wealth of the countries concerned, and that the majority of this wealth is being transferred on a continuous and systemic basis to the very rich. Corporate governance and the pursuit of shareholder value it is argued has become a major driver of inequality. Methodology/approach The current statistical evidence produced by leading authorities including the US Federal Reserve, World Economic Forum, Credit Suisse and Oxfam are examined. The policy of shareholder value and the mechanisms by which the distributions from business take place are investigated from a critical perspective. Findings While the Anglo-American economies are seeing a return to the extremes of inequality last witnessed in the 19th century, the causes of this inequality are changing. In the 19th century great fortunes often were inherited, or derived by entrepreneurs from the ownership and control of productive assets. By the late 20th century as Atkinson, Piketty and Saez (2011) and others have highlighted, the sustained and rapid inflation in top income shares have made a significant contribution to the accelerating rate of income and wealth inequality. Research implications The intensification of inequality in advanced industrial economies, despite the consistent work of Atkinson and others, was largely neglected until the recent research of Picketty which has attracted international attention. It is now acknowledged widely that inequality is a serious issue; however, the contemporary causes of inequality remain largely unexplored. Practical/social implications The significance of inequality, now that it is recognized, demands policy and pract...

dela Rama, M.J. 2017, 'Corruption, corporate governance and building institutions in the Asia-Pacific' in Rowley, C. & dela Rama, M.J. (eds), The Changing Face of Corruption in the Asia Pacific: Current Perspectives and Future Challenges, Elsevier, Amsterdam and Oxford, pp. 93-108.
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This chapter looks at how good corporate governance and building robust, strong institutions can help address issues of corruption in the Asia-Pacific. Firstly, this chapter looks at the definitions of corruption, its unpredictability and different forms of petty and grand corruption after the Rose-Ackerman (2008) model. Corruption’s long-lasting effects on poverty are also mentioned. This chapter suggests that corporate governance institutions and their good practice may alleviate the effects of corruption. Corporate governance reforms are described and suggestions are made on how their good practice may strengthen government institutions and promote business investment in countries with weak markets. Finally, this chapter states that institutional building is an important part of combating corruption, preventing politicisation in the organs of government and promoting socio-economic well-being in the region.

dela Rama, M.J. & Rowley, C. 2017, 'Future directions for research into corruption and anti-corruption practice' in dela Rama, M.J. & Rowley, C. (eds), The Changing Face of Corruption in the Asia Pacific: Current Perspectives and Future Challenges, Elsevier, Amsterdam and Oxford, pp. 369-378.
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This concluding chapter summarises the main concerns and issues that the contributors in this book have raised, and provides some directions for future research into corruption and anti-corruption practice.

dela Rama, M.J. & Rowley, C. 2017, 'The Changing Face of Corruption in the Asia Pacific Region: Its Discontents, Current Perspectives and Future Challenges' in Rowley, C. (ed), The Changing Face of Corruption in the Asia Pacific: Current Perspectives and Future Challenges, Elsevier, Amsterdam and Oxford, pp. 1-20.
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This book brings together a diverse group of academicians, practitioners and contributors and their knowledge of, and/or experience of, corruption in the Asia Pacific Region. Hand in hand, the theoreticians inform, while the practitioners enlighten. This complementary group and their collective wisdom demonstrate the ills and ramifications of corruption and how breathtaking it is in its depth. They note the different changes that have occurred in the region from the latter half of the 20th century to the early decades of the 21st century as it emerged an economic powerhouse: the ‘Asian Century’ is here.

Klettner, A.L. 2017, 'Governing corporate responsibility: the role of soft regulation' in Aras, G. & Ingley, C. (eds), Corporate Behavior and Sustainability: Doing well by being good, Routledge, London and New York, pp. 83-102.
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Journal articles

Bugeja, M., Matolcsy, Z. & Spiropoulos, H. 2017, 'The CEO Pay Slice: managerial power or efficient contracting? Some indirect evidence', Journal of Contemporary Accounting and Economics, vol. 13, no. 1, pp. 69-87.
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Bugeja, M., Matolcsy, Z.P., Mehdi, W. & Spiropoulos, H. 2017, 'Is non-executive directors' pay or industry expertise related to takeover premiums, abnormal returns and offer price revisions?', Australian Journal of Management.
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We examine the association between various takeover outcomes and bidding firm non-executive directors’ (NEDs) compensation and expertise in the target firm industry. In our sample of 272 acquisitions by ASX listed firms between 2004 and 2011, we find that NEDs’ relative compensation and industry expertise have a negative association with the bid premium. We also find that NEDs’ relative compensation is positively associated with the bidding firm’s market reaction to the takeover announcement, and NEDs’ industry expertise is associated with a lower likelihood of an increase in the offer price, particularly for M&As viewed negatively by the market. These results are consistent with higher NEDs’ relative compensation and industry expertise leading to more effective board monitoring and advising.

Clarke, T., Gholamshahi, S. & Jarvis, W. 2017, 'The Impact of Corporate Governance on Compounding Inequality: Maximising Shareholder Value and Inflating Executive Pay', Critical Perspectives on Accounting, vol. 39, no. 4.
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Clarke, T., Kingsford Smith, D. & Rogers, J. 2017, 'Banking and the Limits of Professionalism', University of New South Wales Law Journal, vol. 40, no. 1, pp. 411-455.
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A primary question is whether banking could become a profession. The business terrain of finance is the most hazardous on which to establish the practices of profession.. We start from the position that whether banking is, or might become, a profession is not obvious, for a number of reasons. The first is the intense government regulation which is generally the primary mode of securing the benefits of banking and limiting its undesirable effects. External regulation tends be regarded as a definitional and practical threat to the self-regulation that marks out traditional professionalism. Second, traditional professional logic is said to promote as one of its distinguishing features a contrast with, and at least to some extent, a corrective to the world of business, a world ‘dominated by large bureaucratic organizations, competitive markets, managerial control, deskilling or dehumanizing tendencies and a markedly for-profit logic’. Meanwhile, some bankers perceive this aggressive for-profit orientation as essential and a justification against change. Evidence to the Inquiry included the view of a senior banker that: ‘Banking is a strictly profit-making business, and is not, and never has been, a profession in the sense that, say, medicine or law is’.

Jung, K., Dalton, B. & Willis, J. 2017, 'From revolutionary mother, to breadwinner, to the hyper-feminine woman: Fashion andthe social construction of femininity in North Korea', Asian Studies Review.
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In this paper we argue that North Korea’s socioeconomic transformation has had a profound and yet under-appreciated impact on the social construction of femininity. Drawing on forty-five in-depth interviews with North Korean refugees, interviews with regular visitors to North Korea and NGO workers, as well as our own field notes from trips to North Korea, we analyse changes over three discernible (yet overlapping) economic periods: the 1960s-1990s pre-famine period; the mid-1990s to late 2000s grassroots capitalism era; and the current Kim Jong Un period of quasi-capitalism. As dress is a discursive daily practice of gender, we focus on the practice of femininity as shown through North Korean women’s fashion choices. We argue that images of women in state propaganda have been shaped primarily by male leaders, but norms of femininity have shaped, and also been shaped by, women themselves. That is, the recent trend for North Korean women to dress in hyper-feminine styles can be explained in terms of women remaking themselves and planning their future lives.

Matolcsy, Z.P. & Wakefield, J.A. 2017, 'Multinational headquarter control of wholly owned foreign subsidiaries', British Accounting Review, vol. 49, no. 3, pp. 275-293.
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Perey, R., Agarwal, R., Benn, S. & Edwards, M. 2017, 'The Place of Waste: Changing business value for the circular economy', Business Strategy and the Environment, no. Special issue.

Conferences

Hermens, A., Pitelis, C. & Hermens, H. 2016, 'Industry 4.0 and Value Chain Collaboration: Manufacturing digitalization and operational tensions.', https://www.anzam.org/e vents/2016-operations-supply-chain-and-services-management-symposium-uts-sydney- 13-15-june-2016/, ANZAM, Sydney, pp. 1-25.
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This case study investigates the evolution of inter- firm collaboration process, from imagining a turnaround strategy to leading a manufacturing evolution. The research question focuses on ‘how should a medium-sized family owned manufacturing company change from a traditional foundry to adopt advanced digital manufacturing technologies?’ Economic organizations are the outcome of appropriability-informed purposive entrepreneurial action that involves the creation and co-creation of organizations, markets and supporting ecosystems. Our research studies suggest that overall tension levels and sub-systemic dialectic tensions (i.e. short-term versus long-term; flexibility versus rigidity; collaboration versus competition; common versus private benefits) evolve over time and reconstitute relationships and shape the evolutionary trajectory of an interfirm collaborative strategy. These findings suggest a process of accelerating tensions and significant imbalances in their configuration will favor certain outcomes. The main contribution of this research is to extend current theory by examining converging and diverging forces/tensions and their impact on inter firm value creation. The governance process of resources, in the context of the value creation process and perceived risk, is a key strategic element that influences internal tensions and organizational evolution.

Stein, J.A., Simpson, A.V., Berti, M. & Hermens, A. 2017, '‘Keeping the axe workshop going’: Australian manufacturing and the hidden maintenance of historical practices', The Maintainers II: Labor, Technology and Social Order, Stevens Institute of Technology.
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Reports

Boersma, M. Australian Nursing and Midwifery Federation & The Australia Institute 2017, Do No Harm? Procurement of Medical Goods by Australian Companies and Government.
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