ORCID Profile
0000-0002-5428-2635
Current Organisation
University of Queensland
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Publisher: SAGE Publications
Date: 26-07-2010
Abstract: A review of the findings of prior empirical research concerning hotel management contracts between owners and operators is undertaken. It is noted that management contracts have become increasingly commonplace in the international hotel sector and that gross revenue and gross operating profit are the most extensively used determinants of operator incentive fee remuneration. These findings present a platform for examining how revenue and gross operating profit are deficient in promoting owner—operator goal congruency. In light of this, return on investment (ROI) and residual income (RI) are examined as potential alternative determinants of operator reimbursement. Although it is appears that both ROI and RI as determinants of hotel operator fees would represent an advance in promoting owner—operator goal congruency, a rationale outlining how RI is preferable to ROI is outlined.
Publisher: Elsevier BV
Date: 05-2017
Publisher: Emerald
Date: 10-04-2017
DOI: 10.1108/MEDAR-07-2016-0068
Abstract: This paper aims to introduce and illustrate how discrete choice experiments (DCEs) can be used by accounting researchers and present an agenda of accounting-related research topics that might usefully benefit from the adoption of DCEs. Each major phase involved in conducting a DCE is illustrated using a capital budgeting case study. The research agenda is based on a review of experimental research in financial accounting, management accounting and auditing. DCEs can overcome some of the problems associated with asking decision-makers to rank or rate alternatives. Instead, they ask decision-makers to choose an alternative from a set. DCEs arguably better reflect the realities of real-world decision-making because decision-makers need to make trade-offs between all of the alternatives relevant to a decision. An important advantage that DCEs offer is their ability to calculate willingness-to-pay estimates, which can enable the valuation of non-market goods. Several streams of experimental accounting research would appear well-suited to investigation with DCEs. While every effort has been made to ensure that this illustration is as generic to as the many potential studies as possible, it may be that researchers seeking to utilise a DCE need to refer to additional literary sources. This study, however, should serve as a useful starting point. Accounting researchers are expected to benefit from reading this article by being: made aware of the DCE method and its advantages shown how to conduct a DCE and provided with an agenda of accounting-related research topics that might usefully benefit from application of the DCE methodology. It is the authors’ understanding that this is the first article directed to accounting academics regarding the conduct of DCEs for accounting research. It is hoped that this study can provide a useful platform for accounting academics to launch further research adopting DCEs.
Publisher: Informa UK Limited
Date: 12-2012
Publisher: Emerald
Date: 09-04-2018
DOI: 10.1108/MEDAR-02-2017-0117
Abstract: While investment decisions may be financial decisions, there is a growing recognition that they are also often non-financially based decisions. The purpose of this study is to report findings focused on the project selection stage of capital budgeting, which has the objectives of exploring for: the relative degree of emphasis decision makers attach to a financial and non-financial orientation in capital budgeting and the role, if any, that two agency theory variables have on the relative degree of emphasis: a personal incentive for project go-ahead and monitoring of project outcomes through a post-audit. Discrete choice experiments (DCEs) are used and framed in a between-subjects 2 (personal incentive) × 2 (monitoring) design. DCEs are well-suited to research questions which examine some tension between competing alternatives. For ex le, trade-offs involving the relative degree of emphasis decision makers attach to a financial and non-financial orientation in capital budgeting. In the absence of a personal incentive and monitoring, decision makers attach a significant degree of emphasis to cash inflows and cash outflows, both financial factors, and one strategic non-financial factor being improvement in the position of the firm vis-à-vis competitors in capital budgeting. However, when decision makers receive a personal incentive from project go-ahead, they attach a lower degree of emphasis to cash outflows. Alternatively, when there is monitoring through a post-audit and a personal incentive, decision makers attach a higher degree of emphasis to cash outflows. Decision makers attach a significant degree of emphasis to only a relatively narrow band of attributes in making a capital budgeting decision, which is true in both the absence of and in the presence of the agency conditions. There is also little support for the view that there is any higher degree of emphasis attached to a financial orientation vis-à-vis a non-financial orientation. A particularly important finding relates to the overarching goal of monitoring through a post-audit. One view is that it should foster more accurate forecasting by making forecasters aware that their efforts will be reviewed. However, the findings of this study appear to be more supportive of a view that post-audits might lead agents to become more conservative or even shy away from projects. The study makes contributions to the growing field of research which has the objective of exploring for the relative degree of emphasis decision makers attach to a financial and non-financial orientation in capital budgeting. In particular, it extends the prior research through its investigation of the role that two agency theory variables play in the relative degree of emphasis decision makers attach to a financial and non-financial orientation: a personal incentive for project go-ahead and monitoring of project outcomes through a post-audit.
Publisher: Wiley
Date: 02-11-2010
Publisher: Elsevier BV
Date: 02-2017
Publisher: Elsevier BV
Date: 12-2017
Publisher: Emerald Publishing Limited
Date: 26-06-2019
Publisher: Emerald Publishing Limited
Date: 12-12-2022
Publisher: Informa UK Limited
Date: 2016
Publisher: SAGE Publications
Date: 04-06-2019
Abstract: This study investigates the impact of renovation capital expenditure on multiple measures of hotel property performance. We conduct analyses in two time periods: for a 3-year period immediately following renovation (short-term impact), and 3 to 6 years following renovation (long-term impact). The study is based on proprietary project, operational and financial data obtained for 305 renovation capital expenditure projects of in idual properties within a single budget hospitality chain. We find renovation capital expenditures offer significant short-term beneficial impact in terms of increased revenue, profitability gains, higher customer satisfaction, and decreased repair and maintenance expense. Altogether, these outcomes should be advantageous to hotel property performance. In the long-term, a significant decline is apparent in revenue and profitability. Surprisingly, customer satisfaction does not decline, and repair and maintenance expense does not increase, which are both favorable.
Publisher: Informa UK Limited
Date: 12-07-2021
Publisher: Springer Science and Business Media LLC
Date: 03-10-2020
Publisher: Emerald
Date: 02-05-2017
Abstract: This paper aims to provide a discussion of the application of the research pitch template developed by Faff (2015, 2016b) to a research topic on whistle-blowing. Specifically, the template was used to develop a research proposal that investigates whether government administered financial rewards undermine a firm’s internal whistle-blowing system. This letter provides a brief commentary on using the pitch template and then discusses personal reflections on the pitch exercise. This paper applies the template of Faff (2015) and provides a narrative of the pitching exercise. As a first-time user of Faff’s (2015) pitching template, I have found the template very helpful in articulating the essence of this research project and mapping out the fundamentals for the project. This is a new research idea that is not a pitch retrofitted from published papers or theses. The pitch template was used for the purposes of developing and refining the research idea.
Publisher: Springer Science and Business Media LLC
Date: 06-2018
Publisher: Elsevier BV
Date: 12-2014
Publisher: Elsevier BV
Date: 04-2020
Publisher: Elsevier BV
Date: 12-2013
Publisher: American Accounting Association
Date: 23-11-2021
Abstract: This case illustrates capital budgeting in a service industry context. Three features should make this case attractive to instructors. First, the firm's rationing of capital means that students must select one investment among competing investment alternatives. Second, the project involves renovation of an existing hotel. Most cases analyze a business expansion by estimating the net present value of a single series of cash flows (i.e., either future cash flows occur or do not occur). In this case, students model cash flows if the project is accepted, comparing those cash flows to a model of cash flows if the hotel continues without renovation. Third, we introduce Monte Carlo analysis, which is an advanced technique for assessing uncertainty. The extensive data students use in this case are from an actual hotel chain's project database. The case has been used in undergraduate and graduate managerial accounting classes. Data Availability: Available as downloadable supplemental material files.
Publisher: Emerald Group Publishing Limited
Date: 22-08-2014
Publisher: Emerald
Date: 22-11-2011
DOI: 10.1108/11766091111189882
Abstract: The purpose of this paper is to empirically investigate the differential motivations of hotel owners and operators to engage in earnings management through the selective capitalisation or expensing of asset related expenditures. Research evidence has been collected via a mixed methods approach utilising 20 semi‐structured interviews with key hotel management contract stakeholders in Australia and a questionnaire survey administered to hotel general managers in Australia and New Zealand. A review of the literature has resulted in an original distillation of 18 distinct earnings management motivations for hotel owners and operators. Qualitative data collected suggest an additional four motivations and that the primary motivation for hotel owners and operators to engage in earnings management stems from the two parties' desire to affect the size of the incentive management fee that is paid to hotel operators. A suggestion that operators have a greater tendency to seek to capitalise asset related expenditures, relative to owners, has been supported by both qualitative and quantitative data collected. This study appears to be the first to have examined the manner in which an idiosyncratic aspect of hotel governance can result in competing earnings management motivations between hotel owners and operators the first to pursue a broad level of abstraction with respect to examining earnings management in the context of asset related expenditure capitalisation decision making the first to assess the relative strength of earnings management motivations concerning the capitalisation or expensing of asset related expenditure and the first to conduct earnings management research utilising a mixed methods research approach involving the conducting of face‐to‐face interviews as well as administration of a questionnaire survey.
Publisher: Informa UK Limited
Date: 24-01-2018
Location: Australia
No related grants have been discovered for Michael Turner.