The Australian Centre for Financial Studies (ACFS) facilitates industry-relevant, rigorous research and independent commentaryDrawing on expertise from academia, industry and government, ACFS promotes thought leadership in the financial sector.
 
As specialists in leading edge finance and investment research, ACFS aims to boost the global credentials of Australia’s finance industry, bridging the gap between research and industry, and supporting Australia as an international centre for finance practice, research and education.

Latest research

Funding Australia's Future

Prof Kevin Davis, Dr Ian Opperman, Prof Deborah Ralston

  • Dividend imputation and the Australian financial system
  • Big and better data, innovation and the financial sector
  • Financial issues in retirement: the search for post-retirement products

Trends in the Australian small loan market (payday lending)

Dr Marcus Banks, Dr Ashton de Silva, Prof Roslyn Russell

The paper investigates the 'payday lending' market in Australia and the issues involved in regulating the sector...

Read the research papers Read the commissioned paper

 

Latest events

CSIRO Monash Superannuation Research Symposium

Local and international academics presented research on the role of superannuation in the economy: the technical aspects of funds management in the superannuation sector; and social or behavioural considerations for Australians over 60...

Funding Australia's Future - Stage 3                                                     

Rupert Jolley, Chief Advisor to Treasury Secretary John Fraser, launched three research papers exploring current challenges facing the Australian financial sector...

 

Read the event summary Read the event summary

 

Tuesday, 2 February 2016

While many banking skills are transferable across national borders, there are institutional and cultural impediments to overcome. And as ANZ’s strategy shift away from Asia announced last week might demonstrate, the regulatory barriers are significant, particularly for expansion into Asia.

First among these is the ASEAN Banking Integration Framework (ABIF) initiated at the end of 2014...

Read more
Monday, 1 February 2016
Invitation to participate in a survey about Integrated Reporting   We are seeking financial services sector employees (including investment, superannuation and funds management employees) to participate in a survey examining the materiality of integrated reporting information to providers of financial capital.   The purpose of this project, funded by CPA Australia, is to gather views of... Read more
Monday, 1 February 2016
Research Support Officer 

 

Job No.

542561... Read more
Tuesday, 2 February 2016

While many banking skills are transferable across national borders, there are institutional and cultural impediments to overcome. And as ANZ’s strategy shift away from Asia announced last week might demonstrate, the regulatory barriers are significant, particularly for expansion into Asia.

First among these is the ASEAN Banking Integration Framework (ABIF) initiated at the end of 2014...

Wednesday, 30 July 2014
Liquidity, not capital, is what regulators should be focusing on warned Mr Mark Sheppard, Principal of Hydrargyros and former MD Client Solutions and Advisory at National Australia Bank at an Australian Centre for Financial Studies Boardroom Briefing on Thursday. While the Murray Inquiry’s Interim Report identifies further increases in capital requirements for systemically important financial...
Friday, 11 July 2014

This paper is one of four papers that comprise Stage 2 of the Funding Australia’s Future (FAF) project.  The Australian Centre for Financial Studies (ACFS) launched the FAF project in December 2012 to better understand the role of the financial system in facilitating long term economic growth in the Australian economy. 

The three papers of Stage 1 reviewed the infrastructure of...

Sunday, 20 December 2015

Ensuring that retirees have sufficient financial resources to support their health and well being in retirement represents one of the major challenges for society in our age. Australia is an ageing society, with retirees representing an ever-growing share of the overall population.  Over the next 10 years, Australia’s baby boomer demographic will move into the retirement...

Monday, 27 July 2015

Australia has one of the largest pools of assets under management in the world, and has developed a comparative advantage in investment management. Australia’s expertise makes it well-placed to capitalise on the growth of the funds management industry in Asia. There is bipartisan government support to grow the amount of foreign sourced funds managed in Australia, with mutual recognition...

Monday, 8 September 2014

In our experience, the Australian funds management industry has largely adopted the Henry Ford “one size fits all approach” in that most fund managers don’t tailor different strategies for different types of investors. Funds tend to be run the same “Henry Ford” way no matter who the underlying investor is. Yet there are significant differences between retirees and other investors, including...

Wednesday, 21 October 2015

Financial systems, their institutions, markets and regulatory bodies, are constantly evolving in response to the changing dynamics of technology, politics, demographics and cultural norms. These pressures are evident in Australia today where Australia’s ageing population provides a challenge to both public resources and the financial services sector in terms of meeting the needs of this...

Tuesday, 6 May 2014
Technological innovation is underpinning a revolution in how financial services are delivered in Australia, says Professor Deborah Ralston, Executive Director of the Australian Centre for Financial Studies (ACFS).    “Today this technology enables wealth managers to deliver financial advice to three million people annually, to oversee the administration of 20 million superannuation member...
Wednesday, 19 March 2014

The role of independent research bodies such as the Australian Centre for Financial Studies (ACFS) will be critical to the current review of Australia’s financial system.

David Murray, the former chairman of the Future Fund who is heading the Financial System Inquiry (FSI), told the launch of Stage 2 of the ACFS’s Funding Australia's Future project in Sydney last night that much of its...

Thursday, 3 May 2012

Management earnings forecasts (forecasts) are voluntary disclosures made by companies that inform stakeholders about their expected future financial performance. In Australia, management typically release forecasts as part of a routine information event such as the Chairman's address at the AGM or with the release of the half-yearly earnings. Alternatively, management may release a non-routine...

Thursday, 3 May 2012

Following amendments to the Corporations Law in 1999, changes to the ASX listing rules enabled small and unprofitable companies to list on the ASX as Commitments Test Entities (CTEs). This approach appears to be unique internationally; although second board or sub-markets often exist - such as the Alternative Investment Market (AIM) of the London Stock Exchange (LSE). While, for example, the...

Thursday, 3 May 2012

With draft new legislation on tax treatment of off-market share buybacks under consideration , the future of this popular capital management tool is open to question. The proposed changes will reduce the tax benefits to participants and consequently the discount of the buyback price to current share market price. This makes them less attractive to companies as a capital management technique,...