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	<title>Australian Centre for Financial Studies</title>
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	<link>http://www.australiancentre.com.au</link>
	<description>The Australian Centre for Financial Studies facilitates industry-relevant and rigorous research, thought leadership and independent commentary. Drawing on expertise from academia, industry and government, the Centre promotes excellence in financial services.</description>
	<lastBuildDate>Mon, 14 May 2012 09:00:54 +0000</lastBuildDate>
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			<item>
		<title>Small–Cap Equity Raisings: Are the ASX Proposals the best option?</title>
		<link>http://www.australiancentre.com.au/small%e2%80%93cap-equity-raisings-are-the-asx-proposals-the-best-option/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=small%25e2%2580%2593cap-equity-raisings-are-the-asx-proposals-the-best-option</link>
		<comments>http://www.australiancentre.com.au/small%e2%80%93cap-equity-raisings-are-the-asx-proposals-the-best-option/#comments</comments>
		<pubDate>Mon, 14 May 2012 02:08:03 +0000</pubDate>
		<dc:creator>joycet</dc:creator>
				<category><![CDATA[Banking, Financial Institutions and Markets]]></category>
		<category><![CDATA[Financial Regulation Discussion Paper Series]]></category>
		<category><![CDATA[Media Release]]></category>
		<category><![CDATA[Policy]]></category>
		<category><![CDATA[Publications]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4986</guid>
		<description><![CDATA[FRDP 2012-2
May 10, 2012
The Australian Securities Exchange has recently released a consultation document Strengthening Australia’s equity capital markets[1] outlining inter alia proposals aimed at improving access to additional equity capital for small and mid-sized listed firms.[2] In essence, such firms would be able to issue additional new shares:

by way of a placement, of up to [...]]]></description>
		<wfw:commentRss>http://www.australiancentre.com.au/small%e2%80%93cap-equity-raisings-are-the-asx-proposals-the-best-option/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Superannuation over the past decade: Individual experiences</title>
		<link>http://www.australiancentre.com.au/superannuation-over-the-past-decade-individual-experiences/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=superannuation-over-the-past-decade-individual-experiences</link>
		<comments>http://www.australiancentre.com.au/superannuation-over-the-past-decade-individual-experiences/#comments</comments>
		<pubDate>Thu, 03 May 2012 23:57:30 +0000</pubDate>
		<dc:creator>joycet</dc:creator>
				<category><![CDATA[Contracted Research and Consulting]]></category>
		<category><![CDATA[Funds Management & Superannuation]]></category>
		<category><![CDATA[Publications]]></category>
		<category><![CDATA[Research Review]]></category>
		<category><![CDATA[Sponsorship Support]]></category>
		<category><![CDATA[AIST]]></category>
		<category><![CDATA[Financial wellbeing]]></category>
		<category><![CDATA[HILDA data]]></category>
		<category><![CDATA[Melbourne Institute]]></category>
		<category><![CDATA[Prof Kevin Davis]]></category>
		<category><![CDATA[Retirement]]></category>
		<category><![CDATA[Superannuation]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4972</guid>
		<description><![CDATA[The Australian Centre for Financial Studies and AIST have established  a three-year research partnership with the first year involving an  analysis of the Household, Income and Labour Dynamics in Australia (HILDA) data to review what has happened with superannuation in the last 10  years and where should we be looking with regards [...]]]></description>
		<wfw:commentRss>http://www.australiancentre.com.au/superannuation-over-the-past-decade-individual-experiences/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Research Feature: Buybacks – Beware</title>
		<link>http://www.australiancentre.com.au/research-feature-buybacks-%e2%80%93-beware/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=research-feature-buybacks-%25e2%2580%2593-beware</link>
		<comments>http://www.australiancentre.com.au/research-feature-buybacks-%e2%80%93-beware/#comments</comments>
		<pubDate>Thu, 03 May 2012 07:23:05 +0000</pubDate>
		<dc:creator>joycet</dc:creator>
				<category><![CDATA[Corporate Finance]]></category>
		<category><![CDATA[Publications]]></category>
		<category><![CDATA[Research Review]]></category>
		<category><![CDATA[christine brown]]></category>
		<category><![CDATA[Monash University]]></category>
		<category><![CDATA[off-market share repurchases]]></category>
		<category><![CDATA[Prof Kevin Davis]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4967</guid>
		<description><![CDATA[Christine Brown (Monash University) and Kevin Davis (ACFS) consider the likely effects of planned legislative changes to arrangements for off-market share buybacks. Reduced tax benefits to participants in buybacks will reduce the likely discount of buyback prices to current market prices. Those lower discounts mean that the previous 14 per cent cap (due to ATO [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Research Feature: ASX small firm listing concessions: How have they worked?</title>
		<link>http://www.australiancentre.com.au/research-feature-asx-small-firm-listing-concessions-how-have-they-worked/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=research-feature-asx-small-firm-listing-concessions-how-have-they-worked</link>
		<comments>http://www.australiancentre.com.au/research-feature-asx-small-firm-listing-concessions-how-have-they-worked/#comments</comments>
		<pubDate>Thu, 03 May 2012 06:49:03 +0000</pubDate>
		<dc:creator>joycet</dc:creator>
				<category><![CDATA[Corporate Finance]]></category>
		<category><![CDATA[Publications]]></category>
		<category><![CDATA[Research Review]]></category>
		<category><![CDATA[Academic Research]]></category>
		<category><![CDATA[ACFS Academic Research Grant]]></category>
		<category><![CDATA[Alastair Marsden]]></category>
		<category><![CDATA[Madhu Veeraraghavan]]></category>
		<category><![CDATA[Monash University]]></category>
		<category><![CDATA[The University of Auckland]]></category>
		<category><![CDATA[Zoltan Murgulov]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4959</guid>
		<description><![CDATA[Zoltan Murgulov and Madhu Veeraraghavan (Monash University) and Alastair Marsden (The University of Auckland) examine the performance of small firms which have listed on the ASX under the “commitments test entity” rules. There were around 350 such companies in the decade ending in 2009. While there is no evidence that the more relaxed listing requirements [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Research Feature: Management Earnings Forecasts</title>
		<link>http://www.australiancentre.com.au/research-feature-management-earnings-forecasts/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=research-feature-management-earnings-forecasts</link>
		<comments>http://www.australiancentre.com.au/research-feature-management-earnings-forecasts/#comments</comments>
		<pubDate>Thu, 03 May 2012 03:37:11 +0000</pubDate>
		<dc:creator>joycet</dc:creator>
				<category><![CDATA[Corporate Finance]]></category>
		<category><![CDATA[Publications]]></category>
		<category><![CDATA[Research Review]]></category>
		<category><![CDATA[Academic Research]]></category>
		<category><![CDATA[ACFS Academic Research Grant]]></category>
		<category><![CDATA[La Trobe University]]></category>
		<category><![CDATA[Paul Mather]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4955</guid>
		<description><![CDATA[Paul Mather of La Trobe University investigates the firm characteristics that are likely to lead to more accurate and timely voluntary earnings forecasts. Quality earnings forecasts and timely disclosures are shown to reduce information asymmetries in capital markets and can lead to improved price discovery, this is particularly apparent amongst firms that have built a [...]]]></description>
		<wfw:commentRss>http://www.australiancentre.com.au/research-feature-management-earnings-forecasts/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A Debt rather than Deficit Fetish would be less harmful</title>
		<link>http://www.australiancentre.com.au/a-debt-rather-than-deficit-fetish-would-be-less-harmful/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=a-debt-rather-than-deficit-fetish-would-be-less-harmful</link>
		<comments>http://www.australiancentre.com.au/a-debt-rather-than-deficit-fetish-would-be-less-harmful/#comments</comments>
		<pubDate>Wed, 02 May 2012 08:19:49 +0000</pubDate>
		<dc:creator>joycet</dc:creator>
				<category><![CDATA[ACFS Commentary]]></category>
		<category><![CDATA[Banking, Financial Institutions and Markets]]></category>
		<category><![CDATA[Media Watch]]></category>
		<category><![CDATA[Policy]]></category>
		<category><![CDATA[Publications]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4945</guid>
		<description><![CDATA[Published in The Conversation, Don’t forget the debt: there’s more to fiscal prudence than a return to surplus, 2 May 2012
 
Treasurer Swan’s commitment to bring the Government budget into surplus in 2012-13 may be a political imperative, but is not good economics. The focus for prudential fiscal management should instead be on what budget outcome [...]]]></description>
		<wfw:commentRss>http://www.australiancentre.com.au/a-debt-rather-than-deficit-fetish-would-be-less-harmful/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Too Big To Swallow</title>
		<link>http://www.australiancentre.com.au/too-big-to-swallow/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=too-big-to-swallow</link>
		<comments>http://www.australiancentre.com.au/too-big-to-swallow/#comments</comments>
		<pubDate>Mon, 30 Apr 2012 08:21:01 +0000</pubDate>
		<dc:creator>joycet</dc:creator>
				<category><![CDATA[ACFS Commentary]]></category>
		<category><![CDATA[ANZSFRC]]></category>
		<category><![CDATA[Banking, Financial Institutions and Markets]]></category>
		<category><![CDATA[Media Watch]]></category>
		<category><![CDATA[Policy]]></category>
		<category><![CDATA[Publications]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4950</guid>
		<description><![CDATA[Published in Business Spectator, The big four elephants in the room, 30 April 2012
 
It has been reported that the European Union is considering draft laws for substantial additional capital requirements for its large banks. This would be a broadening of similar Basel Committee recommendations for 29 large banks which it decided warranted designation as [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A system at risk: the case for regulatory overhaul in Australia’s banking sector</title>
		<link>http://www.australiancentre.com.au/a-system-at-risk-the-case-for-regulatory-overhaul-in-australia%e2%80%99s-banking-sector/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=a-system-at-risk-the-case-for-regulatory-overhaul-in-australia%25e2%2580%2599s-banking-sector</link>
		<comments>http://www.australiancentre.com.au/a-system-at-risk-the-case-for-regulatory-overhaul-in-australia%e2%80%99s-banking-sector/#comments</comments>
		<pubDate>Fri, 20 Apr 2012 07:12:16 +0000</pubDate>
		<dc:creator>joycet</dc:creator>
				<category><![CDATA[ANZSFRC]]></category>
		<category><![CDATA[Banking, Financial Institutions and Markets]]></category>
		<category><![CDATA[Media Watch]]></category>
		<category><![CDATA[Policy]]></category>
		<category><![CDATA[Publications]]></category>
		<category><![CDATA[Australia and New Zealand Shadow Financial Regulatory Committee]]></category>
		<category><![CDATA[Basel III]]></category>
		<category><![CDATA[Prof Kevin Davis]]></category>
		<category><![CDATA[The Conversation]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4941</guid>
		<description><![CDATA[Published in The Conversation, 16 April 2012
 
Following the recent release of  Statement No. 10 by the Australia-New Zealand Shadow Financial Regulatory Committee (ANZSFRC) exploring whether the systemic importance of the big four  Australasian banks warrants their being subject to special regulatory treatment, The Conversation digs deeper through an interview with Professor Kevin Davis, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Do the Big Four Australasian Banks Require Special Regulation?</title>
		<link>http://www.australiancentre.com.au/do-the-big-four-australasian-banks-require-special-regulation/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=do-the-big-four-australasian-banks-require-special-regulation</link>
		<comments>http://www.australiancentre.com.au/do-the-big-four-australasian-banks-require-special-regulation/#comments</comments>
		<pubDate>Thu, 12 Apr 2012 11:15:41 +0000</pubDate>
		<dc:creator>frieda56</dc:creator>
				<category><![CDATA[ANZSFRC]]></category>
		<category><![CDATA[Banking, Financial Institutions and Markets]]></category>
		<category><![CDATA[Media Release]]></category>
		<category><![CDATA[Publications]]></category>
		<category><![CDATA[Australian Centre for Financial Studies]]></category>
		<category><![CDATA[Banking]]></category>
		<category><![CDATA[Financial Crisis]]></category>
		<category><![CDATA[Financial Regulation]]></category>
		<category><![CDATA[Financial System]]></category>
		<category><![CDATA[GFC]]></category>
		<category><![CDATA[Global Financial Crisis]]></category>
		<category><![CDATA[Prof Kevin Davis]]></category>
		<category><![CDATA[Risk Management]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4813</guid>
		<description><![CDATA[The Australia-New Zealand Shadow Financial Regulatory Committee releases Statement No. 10 exploring whether the systemic importance of the big four Australasian banks warrants their being subject to special regulatory treatment.
The Australia-New Zealand Shadow Financial Regulatory Committee (ANZSFRC), an independent group of senior finance academics, today released its latest statement. It addresses the question of whether [...]]]></description>
		<wfw:commentRss>http://www.australiancentre.com.au/do-the-big-four-australasian-banks-require-special-regulation/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Can a Corporate Bond Market solve the Super Equity Bias?</title>
		<link>http://www.australiancentre.com.au/can-a-corporate-bond-market-solve-the-super-equity-bias/?utm_source=rss&amp;utm_medium=rss&amp;utm_campaign=can-a-corporate-bond-market-solve-the-super-equity-bias</link>
		<comments>http://www.australiancentre.com.au/can-a-corporate-bond-market-solve-the-super-equity-bias/#comments</comments>
		<pubDate>Thu, 22 Mar 2012 02:10:18 +0000</pubDate>
		<dc:creator>joycet</dc:creator>
				<category><![CDATA[ACFS Commentary]]></category>
		<category><![CDATA[Banking, Financial Institutions and Markets]]></category>
		<category><![CDATA[Funds Management & Superannuation]]></category>
		<category><![CDATA[Publications]]></category>
		<category><![CDATA[Australian Financial Review]]></category>
		<category><![CDATA[Basel III]]></category>
		<category><![CDATA[Corporate Bond Market]]></category>
		<category><![CDATA[corporate funding]]></category>
		<category><![CDATA[equity funding]]></category>
		<category><![CDATA[financial restructuring]]></category>
		<category><![CDATA[international financing]]></category>
		<category><![CDATA[Prof Kevin Davis]]></category>
		<category><![CDATA[Taxation]]></category>

		<guid isPermaLink="false">http://www.australiancentre.com.au/?p=4746</guid>
		<description><![CDATA[Published in AFR, Traps lurking in new corporate bond market, 20 March 2012
The stars appear to be in alignment for a beneficial structural reform of the Australian financial system to kill two birds with one stone. On the one hand, almost everyone seems to support initiatives to develop a local corporate bond market to broaden [...]]]></description>
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		<slash:comments>0</slash:comments>
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