Unique Australian Equities Database launched to assist Australian share market investors and researchers

Posted on December 14, 2011
Filed Under Banking, Financial Institutions and Markets, Contracted Research and Consulting, Funds Management & Superannuation, Media Release | Leave a Comment

The Australian Centre for Financial Studies (ACFS), together with its research partner, ANZ Trustees Limited (ANZT), today announced the development of a unique digital Australian Equities Database (AED) covering data from 1948 to current date.

Professor Deborah Ralston, Director of the Centre stated that “research into Australian equities has been hindered by a limited historic digital record.  ANZT and ACFS have noted these limitations and have joined in seeking to remedy the deficiency.  The AED aims to extend the historic record of Australian equities back in time to the early 1900s so that the database will provide a broader and deeper set of equity fundamental and market aggregate information over a greater range of time than is presently available.  ANZT and ACFS have been supported in the project by RMIT University providing research support and Sirca providing a web platform for the database.  The project is a three year staged program of development and is now passing its midway point – a sufficient point to start sharing the benefits of the database more widely.”.

The database expands the publicly available digital equities data by over 150% and will further double in size by the completion of the program in the next 12 months.  The AED presently provides monthly data on almost 6,000 companies across the present 63 years of records collected.  The AED details major trading and fundamental data items including recorded earnings and dividend information, number of shares on issue, share turnover, equity nominal value, net tangible assets per share and price range data.  The database captures all capital change information and has been used to generate return and risk estimates at equity, portfolio and market level, together with all feasible ratios and performance indices. The AED has been extensively tested for accuracy, consistency and comparability so that it is now ready for user testing and application.

“The AED is a unique financial analysis strategy tool. Constructed from publicly available monthly stock exchange journal reports of the Melbourne Stock Exchange and, post-1972, the Australian Stock Exchange, the database enables longer term evaluation of investment and portfolio formation strategies relating equities to both historic and current trading and economic environment.  The AED is seen as potentially of value to a wide range of interested parties, such as the financial services industry; academia; media; private wealth and investment individuals; economists / market analysts.” Prof Deborah Ralston said.

Professor Ralston added that “ACFS has concentrated on development of the database with only limited research analysis undertaken.  However, even the analysis to date has found numerous market insights and suggested a number of significant equity performance indicators.  Some very high returns have been achieved in preliminary simulation tests.”

The database will initially be available through consultation with ACFS.  It is planned that increased direct access to the database will be made available at completion of full development of the program.

About the Australian Centre for Financial Studies
The Australian Centre for Financial Studies facilitates industry-relevant and rigorous research and consulting, thought leadership and independent commentary.  Drawing on expertise from academia, industry and government, the Centre promotes excellence in financial services.

The Centre specialises in leading edge finance and investment research, aiming to boost the global credentials of Australia’s finance industry; bridging the gap between research and industry and supporting  Australia and Melbourne as an international centre for finance practice, research and education.

The Centre provides access to and links between academics, finance practitioners and government and draws on expertise and experience from across these groups, to facilitate and disseminate knowledge creation and transfer throughout the greater finance community via its various activities.

The Australian Centre for Financial Studies (previously known as the Melbourne Centre for Financial Studies) is a not-for-profit consortium of Monash University, the University of Melbourne, RMIT University and Finsia having commenced in 2005 with seed funding from the Victorian Government.  Across the consortium partners ACFS has links with over 100 finance academics and over 200 postgraduate students engaged in finance research.

About ANZ Trustees
ANZ Trustees is a leading trustee company with expertise in philanthropy, wealth management and wealth transfer. Our expertise assists individuals, families, companies and charities to preserve and grow their wealth into the future. ANZ Trustees’ services include wills and estate planning, managing family and charitable trusts and foundations and investment and personal financial management.

Download Media Release PDF

Media contact details:

Prof Deborah Ralston
Director
Australian Centre for Financial Studies
T: +61 3 9666 1050
info@australiancentre.com.au

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The World in Crisis: Insights from Six Shadow Financial Regulatory Committees

Posted on December 9, 2011
Filed Under ANZSFRC, Banking, Financial Institutions and Markets, Event News, Funds Management & Superannuation, Insurance, Policy, Publications | Leave a Comment

The six Shadow Financial Regulatory Committees (SFRC) of Asia, Australia – New Zealand, Europe, Japan, Latin America and the United States have together published an online book, “The World in Crisis: Insights from Six Shadow Financial Regulatory Committees“. This book aims to inform financial policy makers around the world and other players in the global financial marketplace. The insights ideally would be helpful in preparing for or avoiding future financial crises.

In different chapters, members of the SFRC provide different regional perspectives on the Global Financial Crisis and Financial Regulation. The Committees discuss how the crisis evolved in each of their countries or region, lessons learned, reform measures adopted or not adopted to date and propose ways in which cross-country coordination of financial regulatory policies may help prevent future crises, or at least minimise their severity.

The book begins with an Executive Summary of the chapters, followed by a statement adopted by the six Shadow Committees at a joint meeting in Washington, D.C. on October 22 – 24, 2011 on the current economic and financial crisis in the Eurozone countries, applying relevant lessons from the individual chapters. The Australia-NZ Shadow Committee chapter was prepared by Profs Christine Brown (Monash University), Prof Kevin Davis (Australian Centre for Financial Studies and University of Melbourne), Prof Mervyn Lewis (University of  South Australia) and Prof David Mayes (University of Auckland).

At the joint meeting in Washington, D.C. , the six committees discussed the impact of the financial crisis on countries in their regions, relevant lessons and policies to adopt. Presenters and Commenters include:

• ASLI DEMIRGUC-KUNT, World Bank
  
• LUC LAEVEN, International Monetary Fund
• JEREMY GOH, Asian Shadow Financial Regulatory Committee
• HARALD A. BENINK, Europe Shadow Financial Regulatory Committee 
• MASAYA SAKURAGAWA, Japanese Shadow Financial Regulatory Committee 
• LILIANA ROJAS-SUAREZ, Latin America Shadow Financial Regulatory Committee 
• GEORGE G. KAUFMAN, US Shadow Financial Regulatory Committee
• KEVIN DAVIS, Australia-New Zealand Shadow Financial Regulatory Committee

Click image to watch video on C-SPAN video library

Download e-book

More about the Australia – New Zealand Shadow Financial Regulatory Committee

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Should banks be compelled to pass on interest rate cuts?

Posted on December 6, 2011
Filed Under ACFS Commentary, Banking, Financial Institutions and Markets, Media Watch, Publications | Leave a Comment

Published in The Conversation, 6 December 2011

As Reserve Bank of Australia board members gather today to ponder Australia’s cash rate, financial markets are having a bet each way the RBA will cut rates amid the release of data reflecting a softening in key non-mining sectors of the Australian economy, but more favourable inflation figures. But these days, Australian home owners can no longer rely on their banks to pass on the joy. So The Conversation asked: should banks be compelled to pass on interest rate cuts – yes or no?

Kevin Davis, Research Director for the Australian Centre for Financial Studies, and Professor of Finance at the University of Melbourne says no.

No, because…

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