John Watson

John Watson
University of Western Australia | UWA · Department of Accounting and Finance

PhD

About

46
Publications
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Publications

Publications (46)
Chapter
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The aim of the study in this chapter is to investigate two competing propositions relating to the provision of commercial loans to female-owned new ventures. That is, do banks actively discriminate against women? Or, are women more reluctant (because of the risks involved and the potential to lose control of their ventures) to access bank financing...
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This mixed-method study explores the symptoms and potential causes of non-profit vulnerability within the Australian context. Following two focus groups with CEOs and Chairs of non-profit organizations, an online survey was developed, pilot tested and distributed to non-profit CEOs. Our findings suggest three symptoms that might be particularly use...
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Purpose – A key issue faced by co-operative enterprises is how to raise external equity capital without compromising member control. The purpose of this study is to examine the potential of a special type of financial instrument called a Cooperative Capital Unit (CCU) introduced into the Australian legislation to facilitate external investment whil...
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In examining gender differences in the goals of 658 small and medium enterprise (SME) owner-operators in Western Australia, we found that the Bern SRI (sex-roles inventory) provided better results than the common proxy of biological sex. For example, while we found no significant difference between men and women in terms of the importance they atta...
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The aim of this study was to develop a parsimonious scale to measure the goals (objectives) of SME owner–operators. Our results, using a combination of both focus groups and surveys, indicate (as expected) that SME owner–operator goals cannot be satisfactorily proxied by economic factors alone but can be appropriately assessed using four multi-item...
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Given the increasing importance attached to both corporate social responsibility (CSR) and corporate governance, this study investigates the association between these two complimentary mechanisms used by companies to enhance relations with stakeholders. Consistent with both legitimacy and stakeholder theory and controlling for industry profile, fir...
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Purpose – In this paper, the authors aim to develop a framework that provides a holistic approach to the assessment of entrepreneurial performance outcomes (EPOs) incorporating the multitude of factors (such as entrepreneurial goals and cultural norms) that research suggests can impact the entrepreneurial process. Design/methodology/approach – In...
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Purpose ‐ The question of whether female-owned firms underperform male-owned firms has triggered much research and discussion. Klapper and Parker's review concluded that the majority of prior research suggests that female-owned firms underperform relative to male-owned firms. However, using performance measures that control for size and risk (and a...
Chapter
A major issue for co-operatives is their ability to raise member or investor capital to fund growth. A financial instrument termed co-operative capital unit (CCU), has been introduced in Australia to increase the sector’s flexibility in raising and retaining capital. CCUs are loosely defined in the legislation and can take the form of debt or equit...
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This study had two primary objectives. First, to determine whether there are any systematic networking diffesrences between male and female SME owners. Second, to determine if there is an association between networking and firm performance, for both male- and female-controlled SMEs. The results of examining 2,919 male- and 181 female-controlled SME...
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This paper examines whether the management accounting practice of total quality management (TQM) positively impacts on the financial performance of small and medium enterprises (SMEs). While research has investigated the impact of TQM on larger firms, to date, there has been no comprehensive analysis of the impact of TQM on SMEs’ financial performa...
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A major issue for many co-operative enterprises is the ability to raise capital to fund growth. Considerable attention has been given to facilitating access to non-member capital sources and managing and accommodating such financing. This paper examines the merits of a new financial instrument known as the Co-operative Capital Unit (CCU), introduce...
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There does not seem to be an accepted method of measuring SME performance similar to the economic measures routinely used for large firms. Murphy, Trailer and Hill (1996, p.15) suggested that 'Accurate performance measurement is critical to understanding new venture and small business success and failure.' This paper provides a rationale for explic...
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Prior studies examining and comparing the performance of female- and male-controlled SMEs have generally found that female-controlled SMEs under-perform male-controlled SMEs on a variety of measures such as revenue, profit, growth and closure rates. However, it is conceivable that the performance measures used by previous studies might have contrib...
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'John Watson is my type of researcher. His scholarly career has been devoted to finding out what actually happens to small businesses, based on looking in detail at their performance and the factors influencing their performance. This frequently means that sacred cows have been sent to abattoir. The most notable of these is that most small business...
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We examine the value relevance and reliability of reported goodwill and identifiable intangible assets under Australian GAAP from 1994 to 2003; a period characterised by relatively restrictive accounting treatment for goodwill and relatively flexible accounting treatment for identifiable intangible assets. Our findings, using an adaptation of Felth...
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Purpose – While some previous research supports the existence of a finance gap within the small and medium enterprise (SME) sector, particularly for female owned SMEs, the evidence is hardly unequivocal. Further, much of the prior research has focused on supply- rather than demand-side issues. Hence, the purpose of this paper is to investigate both...
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Women are generally considered more risk averse than men. Controlling for age, income, and education, this study examined the impact of gender on the superannuation (retirement) fund risk preferences of staff in the Australian university sector. The findings suggest that women choose more conservative investment strategies than men and that lower i...
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We introduce a new hybrid approach to joint estimation of Value at Risk (VaR) and Expected Shortfall (ES) for high quantiles of return distributions. We investigate the relative performance of VaR and ES models using daily returns for sixteen stock market indices (eight from developed and eight from emerging markets) prior to and during the 2008 fi...
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Full-text available
Women are generally considered more risk averse than men. Controlling for age, income, and education, this study examined the impact of gender on the superannuation (retirement) fund risk preferences of staff in the Australian university sector. The findings suggest that women choose more conservative investment strategies than men and that lower i...
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Based on annual report data for a sample of 118 companies listed on the Australian Stock Exchange, this study provides further empirical evidence of the association between the voluntary disclosure of segment information and a firm’s level of diversification; controlling for firm size, industry membership, the level of minority interest, leverage,...
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Previous research suggests a lack of external funding opportunities might inhibit the growth of many small and medium enterprises (SMEs), particularly female-controlled SMEs. However, the existing empirical research on this issue is extremely limited. The aim of this study, therefore, is to gain a better understanding of the relationship between SM...
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Despite the fact that founding a business was not a discriminating criterion in Garland et’s (1984) definition of the entrepreneur, establishment status (founder/non-founder) has often been used to class i6) business owners as either entrepreneurial or non-entrepreneurial. This observation led to the three principal objectives of this study, namely...
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Purpose – To investigate the relationship between biological sex (male or female) and stereotypical sex‐roles (masculinity and femininity) and to determine which might be more appropriate to use when examining small to medium‐size (SME) owner characteristics such as: locus of control (internal, powerful others and chance); need for achievement; ris...
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An important methodological issue for small business researchers is cost effective data collection, particularly for mail surveys. While many studies have examined the effect of various methodological strategies on response rates, the impact these strategies have on data quality is less understood. This study aimed to examine the effectiveness of v...
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This study examined the use of Group Support Systems (GSS) technology as a tool for soliciting perceptions, or ideas, from a target audience. We compared this approach to a more traditional focus group methodology, and concluded that GSS technology has a number of advantages. First, the relative anonymity of responses encouraged participation from...
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Female self-employment has been increasing steadily over the last years in many countries. However, not much is know about women?s decision to become self-employed, especially in Europe. Some few studies typically conclude that most women choose self-employment because it offers more flexibility to combine work and family responsibilities or becaus...
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Previous research has found that female-owned businesses generally underperform male-owned businesses on a variety of measures such as revenue, profit, growth, and discontinuance (failure) rates. It has been suggested that this finding might be the result of systematic differences between male- and female-owned businesses, particularly industry dif...
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Many studies have demonstrated the positive impact of total quality management (TQM) practices on the financial performances of large listed companies. However, there have been fewer studies examining the impact of TQM practices on small-and medium-sized enterprises (SMEs) and theses have typically relied on managers' self-assessments of performanc...
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Carland et al.'s (1984) definition of an entrepreneur consists of five dimensions: establishment (founder/non-founder); profit importance; growth orientation; innovative behaviour; and the use of strategic management practices. In operationalising the Carland et al. (1984) definition, many studies have only used the founder/non-founder dichotomy to...
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In assessing new business proposals, venture capitalists rely on their own implicit theories (beliefs) about the attributes that a potentially successful business should possess. From these 'commonsense theories' venture capitalists develop decision rules (selection criteria) to assess the potential viability (and likely profitability) of new busin...
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Previous research has found that female-owned businesses generally underperform male-owned businesses on a variety of measures such as sales and profit. Further, this underperformance appears to persist even after controlling for demographic differences. However, previous studies have tended to limit their assessment of performance to output measur...
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SUMMARY Over the years there have been numerous calls on the accounting profession to move away from the shoebox syndrome and towards providing the management and financial advice needed by small and medium enterprises (SMEs). Also, many countries have established various small business agencies to assist SMEs in a range of activities from startup...
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The survey method has been very popular with researchers examining a range of issues important to the SME sector. However, because there are no proven or generally accepted scales to measure the various constructs of interest to SME researchers, there is often considerable redundancy/repetition in the survey instruments used. This means that resear...
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DR. JOHN WTXSON IS A SENIOR Lecturer IN the Department of Accounting and Finance and Dr. Jim Everett an Associate Professor in the Department of rinformation Management and Marketing, both at the University of W'esterin Australia, Australia. Results froin pre v ious studies examining the incidence of smiall business failure have reported significan...
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Unlike much of the previous literature, which has generally focused on internal risk factors, this study seeks to explore the impact of macro-economic factors on small business mortality. The results suggest that economic factors appear to be associated with between 30 percent and 50 percent of small business failures, depending on the definition o...
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This study seeks to clarify a number of apparent misconceptions concerning small business failure, in the hope that prospective entrepreneurs may be more reliably informed about the risks involved. The results may also help to ensure that future policy decisions made by governments, financial institutions, and other groups with an interest in small...
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JOHN WATSON IS A SENIOR LECTURER IN accounting and finance and Dr. Jim Everett is associate professor of management science, both in the School of Commerce, University of Western Australia, Australia. In examining small business mortality researchers have used, or suggested, a variety of definitions (or proxies) for failure. It has been argued that...
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Reliable statistics on small business failure are scarce, and often produced from data bases designed for an alternate purpose. As a result, and in the absence of any contrary evidence, tenuous statistics suggesting very high failure rates for small enterprises are frequently quoted. Any policy decisions based on such failure rate statistics are of...
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Previous studies have demonstrated that substantial benefits (beyond those available from a naive diversification strategy) were available to the international investor who could perfectly predict future inter-country correlation coefficients. The present author's second paper (Watson, 1980) tested the null hypothesis that the sample correlation co...
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In 1972 the Australian Federal Government partially relaxed exchange controls prohibiting overseas portfolio investment by Australian investors. The purpose of this paper is to examine the benefits which might have accrued to Australian investors over the period 1970 to 1977 had they been able to take full advantage of international diversification...
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Although much in known about the economic contribution of the SME sector, relatively little is known about how and why the performances of individual SMEs differ. We suggest that owner-operator objectives are central to an informed analysis of SME performance, particularly at the level of the individual firm. We describe the development, reliabilit...
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To properly assess the performance of a Small and Medium Enterprise (SME) it is necessary to have an instrument that validly measures the major objectives of the owners of the business. Such an instrument, if it existed, would facilitate research examining differences in owner-operator objectives across a number of dimensions, such as: gender; age...

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