An extended complex system is a large scale hierarchical system controlled by two or more teams of decision-makers. The teams may have different objective functions, and often can be in direct conflict with each other. Within each team, the decision-makers must cooperate for the collective...

An extended complex system is a large scale hierarchical system controlled by two or more teams of decision-makers. The teams may have different objective functions, and often can be in direct conflict with each other. Within each team, the decision-makers must cooperate for the collective...

We propose a new transaction-level bivariate log-price model, which yields fractional or standard cointegration. The model provides a link between market microstructure and lower-frequency observations. The two ingredients of our model are a Long Memory Stochastic Duration process for the...

We propose a new transaction-level bivariate log-price model, which yields fractional or standard cointegration. To the best of our knowledge, all existing models for cointegration require the choice of a fixed sampling frequency Delta t. By contrast, our proposed model is constructed at the...

In this paper the conceptual frameworks, which make different predictions about the effect of boardleadership structure on firm risk-taking behaviour, are examined. From a sample of 243 Australian listed firms, it is found that leadership structure does not have any significant influence on firm...

Current recommendations in Australia and some other economies identify independentdirectors as a key component of effective corporate governance. The research on theempirical link between board characteristics and firm performance, matching the trendtowards greater board independence, is...

Purpose The purpose of this paper is to investigate the relationship between board composition and firm performance variance in the context of recent corporate governance reforms, based on the agency and organisational literatures.Design/methodology/approach This paper uses 384 of the top 500...

AbstractPurpose The purpose of this paper is to investigate the relationship between board diversity, as represented by the percentage of female, minority or female and minority directors on the boards of directors, and firm financial performance, and to explore the potential determinants of...