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This report aimed to develop algorithms for solving the optimization problem of matchingbuy and sell orders in call auctions while minimizing the number of transactions. The developed algorithms were evaluated based on their execution time and solution accuracy.The study found that the problem was more difficult to solve than initially anticipated, and commercial solvers were inadequate for the task. The data’s characteristics werecritical to the algorithms’ performance, and the lack of specifications for instruments andexchange posed a challenge. The algorithms were tested on a broad range of datasets with different characteristics, as well as real trades of stocks from the Stockholm Stock Exchange. Evaluating the best-performing algorithm became a trade-off between time and accuracy, where the quickest algorithm did not have the highest solution accuracy. Therefore, the importance of these factors should be considered before deciding which algorithm to implement. Eight algorithms were evaluated: four greedy algorithms and four clusteralgorithms capable of identifying 2-1 and 3-1 matches. If execution time is the single most crucial factor, the Unsorted Greedy Algorithm should be considered. However, if accuracyi s a priority, the Cluster 3-1 & 1-3 Algorithm should be considered, even though it takes longer to find a solution. Ultimately, the report concluded that while no single algorithm can be definitively la-beled as the best, the Cluster 2-1 Algorithm strikes the most effective balance between execution time and solution accuracy, while also remaining relatively stable in perfor-mance for all test cases. The recommendation was based on the fact that the Cluster 2-1 Algorithm proved to be the quickest of the developed cluster algorithms, and that cluster algorithms were able to find the best solutions for all tested data sets. This study successfully addressed its purpose by developing eight algorithms that solved the given problem and suggested an appropri

The youth foyer model was designed to provide a package of support, including accommodation to homeless or at-risk young people, based on participation in education, training and/or employment as a supported transition to independent living and a sustainable livelihood. Commencing in the early 1990s, the UK has developed a large number of foyers while Australia is a relative newcomer to this kind of supportive youth housing. Unlike in the UK, existing and proposed Australian foyer income generated from current benefits and subsidies is not sufficient to cover the cost of support. We highlight the need for an extensible source of funding specifically for supportive housing for homeless and at-risk youth in order to ensure the financial sustainability and therefore replicability of the foyer model in Australia. We also discuss some issues relating to the translation of the model from one national context to another.

This paper explores the recent series of financial scandals in the Australian financial advice industry. It examines the causes, consequences and responses to these scandals by financial institutions, investors and regulators through the lens of relevant finance theory and extant literature. Although the paper focuses on the recent Australian experience the discussion and findings presented are of relevance to financial market regulation worldwide. It is proposed that a combination of compensation, education, training and structural reforms are required to reduce the undesirable effects of information asymmetry, adverse selection and moral hazard in the finance sector.

A substantial body of accounting and finance literature has been devoted to the study of Mergers and Acquisitions (M&As) dominated by discussions relating to the gains and losses that accrue from transactions involving large public companies. This paper makes a unique contribution to the literature by investigating the M&A experience of microcap businesses. Transactions involving microcap M&A are substantially different to those involving large companies on a number of dimensions. This paper explores the determinants of microcap M&A success and pitfalls and problems from an integration perspective. Due to the paucity of research in the area an exploratory research design is employed, conducting interviews with five CEOs of companies that had each managed multiple transactions. We find microcap M&As are successful when measured against identified goals but generally take longer and cost more than expected. Further, culture and communication are key issues in determining success/failure. We also find the in-house management of integration aspects is problematic for these businesses and suggest this warrants further study.

Poor financial literacy may lead to poor life choices. These life choices can create or contribute to financial stress with adverse consequences - not the least of which may be homelessness. These issues are relatively well understood, but there is limited research on the link between financial stress, financial literacy and counselling, and homelessness. Specifically, there has been little research on how improved financial literacy and appropriate financial counselling might help to prevent homelessness. This paper synthesises existing literature on this topic and considers these issues using the ABCX family stress model of Hill (1958) using data from an Australian program aimed at alleviating family homelessness, the Home Advice Program. We provide evidence that suggests that case management and support which incorporates financial counselling and financial literacy can assist in moderating the impact of financial stress and help those at risk of homelessness. The findings have implications for public policy in the areas of financial education, consumer finance, and social services provision.

The importance of accounting for human resources has long been recognised by the Accounting profession. Until recently, Human Resource Accounting (HRA) literature has been dominated by discussion as to whether humans fit the traditional definition of assets, and how to measure and report them. We investigate the concept of human capital and its measurement through a review of the HRA literature, as well as the literature in Human Resources (HR). This paper then draws on the findings of a small exploratory study into the measurement of Return on Investment (ROI) for international assignments. Interview data reveals that intangible costs and benefits are problematic when applying such a metric; that much of the outcome from the assignment is intellectual capital, in its broad sense, and therefore difficult to isolate and effectively measure.