Quantification issues in corporate valuation, the cost of capital, and optimal capital structure. An estimate of the firm's cost of capital is probably the most important calculation required in corporate finance. It is used as the discount rate in valuation and capital budgeting decisions and forms the basis of pricing structures for many regulated industries. Corporate finance theory has identified the key inputs used to calculate the cost of capital, but the current literature falls short o ....Quantification issues in corporate valuation, the cost of capital, and optimal capital structure. An estimate of the firm's cost of capital is probably the most important calculation required in corporate finance. It is used as the discount rate in valuation and capital budgeting decisions and forms the basis of pricing structures for many regulated industries. Corporate finance theory has identified the key inputs used to calculate the cost of capital, but the current literature falls short of precisely quantifying and measuring many of these inputs. The outcomes from this project will be a framework to quantify three key aspects of the cost of capital - the value of dividend imputation tax credits, the assessment of the optimal capital structure for the firm (in particular, the quantification of bankruptcy and agency costs associated with debt financing), and the estimation of the firm's marginal tax rate.Read moreRead less
Information and market price manipulation in trade. As we can see from the financial crisis, speculative trading in financial markets can have real world effects. Inside traders can exploit their information for more profits. At this stage, we do not fully understand the role of diverse information in the financial system and we need better ways to model price manipulation and information in a dynamic setting. This proposal seeks to supply a reference framework for analyzing price manipulatio ....Information and market price manipulation in trade. As we can see from the financial crisis, speculative trading in financial markets can have real world effects. Inside traders can exploit their information for more profits. At this stage, we do not fully understand the role of diverse information in the financial system and we need better ways to model price manipulation and information in a dynamic setting. This proposal seeks to supply a reference framework for analyzing price manipulation. Recently, there has been an increasing interest in the informed trader's dynamic strategy. By strengthening this research area, this project will give new momentum to Australian economic theory.Read moreRead less
State-contingent analysis of productivity, efficiency and innovation. Productivity growth is a fundamental precondition for sustainable improvements in living standards. The main drivers of productivity growth are technological innovation and improvements in the efficiency of resource use. Effective public policy in this area requires identification of these components. This project develops improved productivity measurement methods that are applicable in economic environments characterised b ....State-contingent analysis of productivity, efficiency and innovation. Productivity growth is a fundamental precondition for sustainable improvements in living standards. The main drivers of productivity growth are technological innovation and improvements in the efficiency of resource use. Effective public policy in this area requires identification of these components. This project develops improved productivity measurement methods that are applicable in economic environments characterised by production and/or demand uncertainty. The methods will be used to obtain improved estimates of rates of innovation and changes in the relative efficiency of selected Australian enterprises. The empirical results will inform National Competition Policy and the process of microeconomic reform.Read moreRead less
Novel hybrid silica membranes for desalination. This project aims to produce high flux, highly stable ceramic membranes for use in desalination. This will result in novel, low energy desalination processes, delivering potable water at a greatly reduced cost.
Robust Productivity Measurement: An Econometric Distance Function Approach. Accurate measures of productivity are required in a range of economic analyses. For example, in the assessment of the success of microeconomic reforms, or in price-cap regulation of utility and transport infrastructure firms. In this project we investigate the use of econometric distance functions as a means of obtaining improved productivity measures. This new approach addresses the main criticisms of alternative ap ....Robust Productivity Measurement: An Econometric Distance Function Approach. Accurate measures of productivity are required in a range of economic analyses. For example, in the assessment of the success of microeconomic reforms, or in price-cap regulation of utility and transport infrastructure firms. In this project we investigate the use of econometric distance functions as a means of obtaining improved productivity measures. This new approach addresses the main criticisms of alternative approaches, such as the single output restriction in the production function approach, the optimisation assumptions embedded in both the value dual approach and the Törnqvist index approach, and the statistical noise criticism of the data envelopment analysis approach.Read moreRead less
The Consistency of Price Regulation of Infrastructure Businesses across Australian Jurisdictions. The spread of regulation across the majority of the economy necessitates that regulatory policy should be consistent across jurisdictions and industries. This project would offer policy and regulatory institutions quantitative analysis of the consistency of regulatory decisions across Australia. This research would develop a new database that would maintain and supply details on regulatory decision ....The Consistency of Price Regulation of Infrastructure Businesses across Australian Jurisdictions. The spread of regulation across the majority of the economy necessitates that regulatory policy should be consistent across jurisdictions and industries. This project would offer policy and regulatory institutions quantitative analysis of the consistency of regulatory decisions across Australia. This research would develop a new database that would maintain and supply details on regulatory decisions across jurisdictions and industries. This project would enable the new Australian Centre of Regulatory Economics (ACORE) to supply independent database and quantitative analysis from an open, fully documented, scholarly environment to Australia's policy and regulatory agencies and its regulated firms.Read moreRead less
Molecular Cell Biology and Comparative Genomics Of Planctomycetes and Verrucomicrobia In Relation To Evolution Of Cytoskeletal Proteins and Membrane-bounded Compartments. Planctomycetes and verrucomicrobia are evolutionarily distinct groups of bacteria which possess unusual cell structure and which share some significant genes important in cell biology with eukaryotes e.g. in verrucomicrobia the cytoskeleton protein tubulin. These bacteria are important for understanding the transition from no ....Molecular Cell Biology and Comparative Genomics Of Planctomycetes and Verrucomicrobia In Relation To Evolution Of Cytoskeletal Proteins and Membrane-bounded Compartments. Planctomycetes and verrucomicrobia are evolutionarily distinct groups of bacteria which possess unusual cell structure and which share some significant genes important in cell biology with eukaryotes e.g. in verrucomicrobia the cytoskeleton protein tubulin. These bacteria are important for understanding the transition from non-nucleated cells with simple cell division to nucleated cells with chromosome separation via cytoskeletal protein movement.The project will compare genomes of of planctomycetes and verrucomicrobia to determine their relationship, determine whether the tubulin homolog of verrucomicrobia can form cytoskeleton structures, and characterize the cytoskeleton of ammonium-oxidizing planctomycetes used in wastewater treatment.Read moreRead less
Surface characteristics and hydrodynamics in detachment of coarse particles. Froth flotation is widely used for separating coal and minerals from the gangue. The largest particles that can be floated in the industry are 10 times smaller than the particles that can be floated under quiescent conditions. This project aims to better understand and quantify the detachment of large particles from the bubble surface. It aims to develop innovative modelling and experimental approaches to examine the ef ....Surface characteristics and hydrodynamics in detachment of coarse particles. Froth flotation is widely used for separating coal and minerals from the gangue. The largest particles that can be floated in the industry are 10 times smaller than the particles that can be floated under quiescent conditions. This project aims to better understand and quantify the detachment of large particles from the bubble surface. It aims to develop innovative modelling and experimental approaches to examine the effect of particle surface characteristics and hydrodynamic conditions on coarse particle detachment and flotation. New ways to save energy by floating coarse composite particles are proposed to be developed. This research is at the forefront of flotation science and technology, and is expected to deliver significant outcomes to the mining industry.Read moreRead less
Identifying novel, health-related predictors of recidivism: Informing evidence-based throughcare. Throughcare is a policy priority for correctional authorities in Australia, however the evidence base to inform policy is limited. Using innovative modelling techniques and unique data from a large, representative cohort of ex-prisoners in Queensland, this study will: identify novel, health-related predictors of recidivism in the first two years after release from adult custody; examine the extent t ....Identifying novel, health-related predictors of recidivism: Informing evidence-based throughcare. Throughcare is a policy priority for correctional authorities in Australia, however the evidence base to inform policy is limited. Using innovative modelling techniques and unique data from a large, representative cohort of ex-prisoners in Queensland, this study will: identify novel, health-related predictors of recidivism in the first two years after release from adult custody; examine the extent to which risk and protective factors for recidivism vary over time and according to individual characteristics; and, provide evidence-based recommendations to improve throughcare interventions and reduce recidivism.Read moreRead less
Engineered Inorganic Membranes for Novel Mineral Brine Processing. This project aims to synthesise a new generation of engineered hierarchical membranes for novel brine processing. The key concept of the research is the precise tailoring of pores of inorganic films, forming functional meso-structures for separating salts from water. Salt crystallises perpendicular to the surface of the membrane, whilst easily removed by air, a process that can be repeated many times leading to high production ra ....Engineered Inorganic Membranes for Novel Mineral Brine Processing. This project aims to synthesise a new generation of engineered hierarchical membranes for novel brine processing. The key concept of the research is the precise tailoring of pores of inorganic films, forming functional meso-structures for separating salts from water. Salt crystallises perpendicular to the surface of the membrane, whilst easily removed by air, a process that can be repeated many times leading to high production rates. The hierarchical membranes will be studied to elucidate the relationships between structure, composition, surface properties and transport phenomena. The outcomes should advance brine processing separation technologies for the mineral industry (lithium, potassium, and magnesium).Read moreRead less