Previous research on loyalty programs in Australia has shown the benefits gained by partners in these programs. This paper develops this research and introduces the concept of network development in loyalty programs. It builds on the theory of network development (Hertz and Mattson, 2004) and...

In June 2004 the Committee published a revised framework for the international convergence of capital measurement and capital standards, known as Basel II. The proposal includes a formal capital charge against operational risk in the business activities of banks. The calculation of an...

This paper examines whether the firm-level and the industry-level cross-sectional volatility (CSV) contains any incremental information about the future market-level volatility in Australia. We analyze daily equity returns data from 2 January 1992 to 31 May 2004. Using a conditional volatility...

One of the reasons for firms decentralising aspects of their operations is to enable managers to gain specialised knowledge of local conditions. For credit managers in a banking firm, this may take the form of knowledge of investment opportunities and the risk profiles of each of these...

There has been an increase in the degree of international financial integration over the last two decades. Countries are trying to remove the restrictions on cross-border capital movement, deregulate the domestic financial markets and offer competitive investment environment to encourage...

Surveys of real estate research priorities for real estate fund managers in the United States, United Kingdom, Australia and Germany over 2000-03 are examined. Thirty-nine real estate research priorities are assessed, with much closer alignment for real estate research priorities in the U.K.,...

As the relative capital value of major real estate investment grows, and investment risk continues to centralise, the requirement to diversify this risk through shared ownership has increased. This international trend toward increased co-ownership has been manifested in cross border...

All banks must hold capital equal to the minimum regulatory requirement. However, in many cases the level of regulatory capital diverges from the actual (economic) capital held by banks. A bank's actual capital is typically linked to a target credit rating, which is in turn determined by the...

Extreme value theory (EVT) is regularly put forward by academics, practitioners and banking regulators as a methodology for measuring the likelihood of operational risk losses that have a very low probability of occurrence, but which have the potential for catastrophic outcomes in terms of...

It is somewhat ironic that while the major focus of regulators and institutions in the financial services sector over recent years has been on developing models for measuring and managing credit risk, most of the large losses in financial institutions over this time have been sourced to...