This study examines if there has been a change in the value relevance of direct cash flow components since the adoption of International Financial Reporting Standards (IFRS) in Australia. Our results show that for both industrial and extractive firms direct cash flow statements are value...

This paper extends the existing literature by analysing the dual impact of changes in the interest rate and interest rate volatility on the distribution of Australian financial sector stock returns. In addition, a multivariate GARCH-M model is used to analyse the impact of deregulation on the...

The dynamic nature of the price information transfer when stock and futures markets switch between different price trading phases is examined. This is undertaken by decomposing Australian stock indices and share price index futures contract data into bear and bull periods and analyzing the...

In this paper we present a different approach to modelling the dynamic nature of the equity risk premium to those adopted in prior studies. We attempt to model the time variation of the equity risk premium through the use of a discounted dividend approach to model the ex ante risk premium...

This paper examines the existence of stock return moments in the less liquid Australian market. We initially find conflicting results. Characteristic exponent point estimates of approximately 1.5 are found for Australian stocks, in line with previous US research findings. This would imply that...

The recent financial crisis and the lobbying of European politicians and banks have led to a vigorous debate about lsquo;fair value' gains and losses and highlights plans by current standard setters. The IASB Discussion Paper (2008), Preliminary Views on Financial Statement Presentation promises...