This paper considers firstly whether EVA® meets the objectives of benefit sharing and secondly, whether it can assist in achieving integration within the decentralised organisation. The empirical evidence presented is based on case study investigation of three New Zealand organisations, one...

This study examines factors related to audit committee membership for a sample of large New Zealand listed companies. This study reveals that non‐executive directors who are independent, and directors with financial expertise, are more likely to be members of audit committees. The results are...

Fonterra Group Cooperative Limited, New Zealand’s largest company, is owned by the dairy farmers who supply milk. Each dairy farmer owns the same number of shares as the kilograms of milksolids supplied. Farmers therefore have an investment in Fonterra, and when a farm is purchased, there is a...

The Balanced Scorecard (BSC), first introduced by Kaplan and Norton in 1992, is described as a comprehensive performance measurement system as well as a strategic management tool. Over the past decade, the BSC has attracted increasing attention in mainstream management accounting research. A...

Intangible assets comprise goodwill and identifiable intangible assets with finite and indefinite lives. Current New Zealand GAAP amortizes intangible assets on a systematic basis over their useful lives, with the proviso that the amortization period for goodwill cannot exceed 20 years....

This paper examines the Random Walk Hypothesis (RWH) for aggregate New Zealand share market returns, as well as the CRSP NYSE‐AMEX (USA) index during the 1980‐2001 period. Using several indices, we rely on the variance‐ratio test and find evidence to support the rejection of the RWH with...

During the 1990s the value to an intending professional accountant of undertaking a period of liberal (general) studies was promoted internationally by a number of individuals and organisations, including the International Federation of Accountants (IFAC) and the New Zealand Institute of...

This study examines the relationship between board composition and firm value, and the extent to which this relationship may be affected by a company’s investment opportunity set. There is little research that examines this issue, particularly for the New Zealand market. Of the research that...

We assess the impact of NZ IAS 32 on the financial reporting of convertible financial instruments by retrospective application of the standard to a sample of New Zealand companies over the period 1988 ‐ 2003. NZ IAS 32 has a broader definition of liabilities than does the corresponding current...

From 2007, New Zealand firms must report the cost of granting employee stock options (ESOs). Market‐based option pricing models assume that option holders are unconstrained in their portfolio choices and thus are indifferent to the specific risk of any firm. By contrast, ESO holders are...