Böcker av Kevan Joey

Financial analysis and modelling are becoming increasingly relevant in modern finance. There is strong need for greater flexibility and wider coverage in the applications of trading, asset pricing and risk management, highlighted by the systemic collapse of financial institutions during the global financial crisis of 2007-08. Financial institutions that had aimed for profit maximisation now felt the need to constrain growth and use better modelling and risk management tools. There is also a sharp increase in the need to conceive and apply these models and tools in an innovative manner. This thesis presents studies in three different categories of analysis: the study of technical analysis and its use as an indicator for market risk and efficiency; the application of survivorship bias in a post-financial crisis environment and its effects on risk-reward structures of short to long term investment; and the opportunity for arbitrage by taking advantage of regulatory restrictions such as circuit breakers and price limits. This thesis studies three markets, the Australian, US, and Chinese Equity markets across three investigations respectively.The first study explores a new explanation of why technical analysis still prevails despite evidence against it in the form of market efficiency. Rational investors should use technical analysis to benefit themselves. This study postulates that if abnormal excess return cannot be consistently generated, investors use technical analysis to reduce transaction costs and overall risk of trade. Connections can be drawn by exploring the links between common technical indicators and market efficiency proxies such as spread, liquidity and order book depth. The spread measures the implicit transaction cost as well as being an indicator of relative market efficiency. Market liquidity provides insight into how investors with large amounts of capital can potentially work their orders to minimise slippage. Order book depth explores the level of potential slippage relative to trading size experienced by these investors when choosing to operate with technical analysis as their trading signal.

This research is inspired by the complexities of the adoption of accrual accounting, whichhave been widely explored in public sector accounting literature. This research intends toexplore the adoption of accrual accounting in the Indonesian public sector.Using case-based research the research is underpinned by theory to interpret the process ofaccrual accounting adoption in Indonesia and adopts qualitative research methods,including in-depth interviews with senior regulators of public sector reform in Indonesiaand extensive reviews of documents and archives, to construct a historical analysis ofpublic sector accounting in Indonesia.Paper one identifies events that stimulated the adoption of accrual accounting inIndonesia. In-depth interviews were conducted with senior accountants involved in settingthe regulations of these public sector reforms in order to gain insight into the motivationsfor adoption and the decision-making process of implementation. These interviews revealtwo milestones in the process of public sector accounting reform in Indonesia. The firstwas the ratification of the Law of State Finance No. 17/2003, in which there was astipulation that governments (both central and local governments) should implementaccrual accounting in 2008. Interviewees stated that this implementation of accrualaccounting was motivated by a desire to avoid sanctions from the International MonetaryFund (IMF). The Government of Indonesia expected the IMF to provide bailout funds torestore the Indonesian economy, which had been devastated by the 1997 Asian FinancialCrisis.

Performance-Based Budgeting (PBB) has been, and continues to be, implementedwithin developed and developing countries as part of a wider public sector reformprocess. The purpose is to embed accurate performance measurement within publicsector organisations (see Franklin, 2006, Aristovnik and Seljak, 2009, Schick, 2007)and provide a more efficient and effective approach to resource allocation (Shah andShen, 2007). PBB adoption and implementation has not been without criticism andthere is ongoing debate as to the real use and effectiveness of PBB. The historicalcontext within which PBB developed, and the justification for why countries decideto implement PBB, has been the subject of scant research, which has led to a lack ofunderstanding as to its purpose and effects.This thesis undertook an historical examination of PBB as part of fiscal reform withinthe public sector. It specifically used a case study regarding the adoption andimplementation of PBB within the Indonesian government as its central field ofanalysis. The study used qualitative research methodology, beginning with ahistorical review of the evolution of PBB as the new public budgeting system, usingthe Lüder FMR model (2002) as a conceptual framework. It then utilized newinstitutional sociology (NIS) theory as a theoretical framework to examine the extentto which isomorphism was evident during PBB implementation within theIndonesian central government. Finally, the Lüder FMR model (2013) was employedas a conceptual framework to investigate the motives that underpinned thedevelopment of PBB within Indonesian local government, and the factorsinfluencing its implementation.This study offers three conclusions about the historical context of PBB evolution andthe decision by countries to adopt. First, PBB was initially implemented in theUnited States in 1949 and expanded to developing countries through United States(US) and United Nations (UN) funded projects. Using the Lüder FMR model (2002),this study finds that the primary motive underpinning PBB implementation in theUS was public sector demand for more informative and measured budgets. Similarmotives were also found in the UK, Australia and Denmark. That theimplementation of PBB within the US and UK budgeting systems were largely seenas positive, was the primary stimulus for PBB implementation across the globe.Furthermore, this study found the outcome of budgetary reform varied betweencountries, from that of a single format that involved traditional budgeting methods,to 'old PBB', to a dynamic approach involving multiple stages that culminated inPBB modification.

In December 1997, an unknown Chinese American author named Iris Changpublished The Rape of Nanking: The Forgotten Holocaust of World War Two. Herpassionate but error strewn account of a sixty-year-old episode of Asian politicalviolence was a spectacular success, with over half a million books sold. Thisthesis asks why. Why that piece of history; why that moment; and why thatauthor and that book? It argues the most compelling answers to these questionsare found if the situation is viewed through the paradigmatic lens of trauma.It therefore offers a theoretical reading of this important historical moment, utilising key theorist, Jeffrey C. Alexander's social theory of cultural trauma. Itexamines parallel historical and social processes in China and the West - centredon trauma, representation and identity - which it argues Iris Chang connectedso profoundly with her book. It claims that The Rape of Nanking is structured toutilise a framework of traumatic understanding constructed around theHolocaust, the defining trauma of the epoch. This allowed her narrative to beread and easily decoded by its audience in the now familiar register of trauma.

Parenting with Pride: LGBT Parents' Perceptions and Experiences" is an insightful andcompassionate exploration of the unique journey of LGBT parents as they navigate thecomplexities of parenthood in today's diverse world. This book delves into the deeplypersonal and often inspiring stories of LGBT individuals and couples who have embarked onthe path of parenthood, shedding light on their diverse experiences, challenges, and triumphs.Drawing from a rich tapestry of personal narratives, research, and societal insights,"Parenting with Pride" offers an in-depth examination of the diverse landscape of LGBTparenting. It explores the emotional and practical aspects of family building, from adoptionand surrogacy to co-parenting and blended families.One of the key strengths of this book is its commitment to inclusivity. It recognizes thatLGBT parents come from various backgrounds, identities, and circumstances, and ithighlights the importance of understanding the intersections of identity, race, and socioeconomicfactors in shaping their experiences.Moreover, "Parenting with Pride" addresses the legal and social challenges faced by LGBTparents, including issues related to legal recognition, discrimination, and support systems. Italso provides insights into the resilience and creativity of LGBT parents in building lovingand nurturing environments for their children.This book serves as a valuable resource for LGBT parents, prospective parents, and anyoneinterested in understanding the unique joys and struggles faced by LGBT families. It fostersempathy, promotes inclusivity, and encourages society to embrace the diversity of modernfamilies.

Pride and Progress: Navigating the LGBT+ Journey" is a compelling and enlighteningexploration of the diverse and evolving experiences of the LGBT+ community. This thoughtprovokingbook offers an in-depth examination of the historical, cultural, and social aspects ofthe LGBT+ journey, providing a comprehensive understanding of the challenges, triumphs, andongoing progress within the community.Drawing from a rich tapestry of personal narratives, academic research, and societalinsights, "Pride and Progress" dives into the multifaceted landscape of LGBT+ identities. Itsheds light on the historical struggles for equality and acceptance while celebrating theresilience and achievements of LGBT+ individuals and their allies.One of the key strengths of this book is its commitment to inclusivity and diversitywithin the LGBT+ spectrum. It delves into the experiences of individuals across differentgenders, sexual orientations, and cultural backgrounds, emphasizing the importance ofintersectionality in understanding the complexities of the LGBT+ journey.Moreover, "Pride and Progress" explores the evolving legal and social landscapesurrounding LGBT+ rights, including the advancements in marriage equality, antidiscriminationlegislation, and the ongoing battles for acceptance and recognition.This book serves as a vital resource for individuals seeking to deepen their knowledgeof LGBT+ history, struggles, and triumphs. It also provides a roadmap for fostering empathy,allyship, and support for the LGBT+ community.Whether you are a member of the LGBT+ community, an ally, or simply someonecurious about the lived experiences of LGBT+ individuals, "Pride and Progress" offers acompassionate and informative guide. It encourages readers to celebrate diversity, promoteequality, and continue the journey towards a more inclusive and accepting societ

profound impact that books have on our culture, identity, and shared human experience. Thisthought-provoking book delves into the multifaceted ways in which books shape and enrich ourlives, shedding light on their enduring significance in an ever-evolving world.Drawing from a diverse array of perspectives and case studies, "Cultural Treasures" examineshow books serve as repositories of knowledge, carriers of stories, and catalysts for socialchange. It explores their role in preserving cultural heritage, promoting literacy, and fosteringintellectual discourse.One of the standout features of this book is its ability to capture the essence of books as culturalartifacts. It discusses the power of literature to reflect the values, beliefs, and aspirations ofsocieties throughout history and across the globe. Readers will gain insight into how booksconnect generations, bridge cultural divides, and contribute to a collective sense of identity.Moreover, "Cultural Treasures" delves into the evolving landscape of books in the digital age. Itexamines the intersection of technology and literature, exploring how e-books, audiobooks, anddigital libraries are shaping the way we access and engage with written content.This book is not only a celebration of books but also a reflection on their evolving role insociety. It addresses the challenges and opportunities faced by the publishing industry, libraries,and educators in a rapidly changing world.Whether you are a bibliophile, a student of literature, or simply curious about the profoundimpact of books on culture and society, "Cultural Treasures" offers a comprehensive andinsightful guide. It illuminates the enduring value of books in our lives, encouraging readers toappreciate their role as cultural treasures that enrich our world and contribute to the tapestry ofhuman history."Cultural Treasures" is a testament to the enduring legacy of books and their ability to transcendtime and space, making them an integral part of our shared cultural heritage

Banks accredited by their regulator to use the Advanced Internal Ratings Based (A-IRB)approach are required to provide their own estimates for calculating their minimum creditcapital; these estimates rely on statistical and analytical models to predict Probability ofDefault (PD), Loss Given Default (LGD) and Exposure at Default (EAD). This thesisfocusses on estimating EAD for banks granting revolving loans to large corporates andleverages the Global Credit Data (GCD) database.This thesis briefly discusses why risk management, particularly credit risk management, isimportant for banks and we survey the existing EAD modelling literature which to datehas had less focus than PD and LGD modelling.Our prosed methodology models both loan balance at default (EAD) and changes in loanlimit at default as random variables, modelling their joint dynamics via a two stage model- the first stage estimates the probability that limits decrease while the second stageestimates EAD conditional on changing limits. To the best of our knowledge, our approachis the first to estimate EAD and changes in loan limit directly for large corporate revolvingfacilities using the GCD database.Our model suggests that the key drivers of EAD include: limit; balance; utilisation; riskrating; and time to maturity. We also find evidence that banks actively manage limits inthe lead up to default, and that these changes in limits have substantial effects on theoutcomes of realised EAD.