A Synthesis of Agency and Managerial Power Theories and Its Applications to Corporate Governance, Management Compensation, and Firm Performance. The existing models of corporate governance in economics and finance based on agency theory do not successfully portray all modern corporations. Thus the importance of a new and rigorous way to study corporate governance can be hardly exaggerated. This project will provide a synthesized theory of corporate governance and is expected to produce highest- ....A Synthesis of Agency and Managerial Power Theories and Its Applications to Corporate Governance, Management Compensation, and Firm Performance. The existing models of corporate governance in economics and finance based on agency theory do not successfully portray all modern corporations. Thus the importance of a new and rigorous way to study corporate governance can be hardly exaggerated. This project will provide a synthesized theory of corporate governance and is expected to produce highest-quality research publishable in top-tier journals. This will, among others, enhance Australia's standing as a knowledge nation. This project is also expected to contribute to the discussions on how to improve corporate governance and regulation of management compensation both in Australia and abroad. Read moreRead less
Risk management policies and practices of major Australian firms. High profile corporate failures attributable to incorrect hedging strategies have recently drawn attention to corporate financial risk management, although its important role in financial management is far more ubiquitous and pervasive. The project will shed light on the internal processes of corporate risk management which previous studies have not addressed. It will produce a 'stock-take' of current practices enabling assessment ....Risk management policies and practices of major Australian firms. High profile corporate failures attributable to incorrect hedging strategies have recently drawn attention to corporate financial risk management, although its important role in financial management is far more ubiquitous and pervasive. The project will shed light on the internal processes of corporate risk management which previous studies have not addressed. It will produce a 'stock-take' of current practices enabling assessment against theoretical models and identification of current 'best practice'. Against this backdrop, Australian firms will be able to assess the merits of their current policies and practices, and assist corporate outsiders (regulators, analysts, researchers) in better understanding corporate risk management. Read moreRead less