Michael Aitken

Publications

Books

  • The Development of Accounting Theory - Significant Contributors to Accounting Thought in the 20th Century with M Gaffikin, Garland Publishing Company, December 1982.
  • Investing on the Australian Sharemarket, with A Burrowes and R Mullholland, Macmillan Publishing Company, December 1983. (Fifth reprint 1987)
  • Accounting and Financial Management, with M Hirst, Australian Graduate School of Management, 1989.
  • The Microstructure of the Australian Stock Exchange: An Introduction, with A. Frino, E. Jarnecic, M. McCorry and R. Winn, Asia-Pacific Capital Markets Foundation, Book Series 1997.

Articles

  • Liquidate or Trade-Out: A Note on the Price Level Complication, The Chartered Accountant in Australia, November 1981.
  • Loan Self-Insurance Schemes - Some Evidence of their use in Australia, with David Williams, Management Forum, December 1981.
  • Coming to Grips with Books of First Entry, The Australian Accountant, March 1982.
  • Social Responsibility: A Concept Replete with Problems, Singapore Management Review, December 1982.
  • Group Accounts - An Introduction to Some Presentation, Compatibility and Taxation Considerations, with T Wise, The Australian Accountant, May 1983.
  • Regulating Taxi Operators - Some Historical Insights, with David Williams in Occupational Regulation and the Public Interest, Albon, R. and Lindsay G. (eds.) June 1984.
  • Dispelling Arguments Against International Accounting Standards, with A Islam, International Journal of Accounting Education and Research 19, 2, Spring 1984, 35-46.
  • The Real Objective of the International Accounting Standards Committee, with T Wise, International Journal of Accounting Education and Research 20,1, Fall 1984, 171-177.
  • What is this thing called Financial Accounting Theory?: An Historical Insight, Accounting History 9, Summer 1985, 21-31.
  • The Trading Stock Valuation Adjustment: Extensions and Modifications, with T Walter, Australian Journal of Management 10, 7, June 1985, 77-96.
  • Employee Share Ownership Schemes: Issues and Evidence, Journal of Industrial Relations, with R Wood, June 1989, 147-168.
  • The Securities Industry under Negotiated Brokerage Commissions: Changes to the Structure and Performance of AASE Member Firms, Journal of Business Finance and Accounting 17, 2, Spring 1990, 213- 245.
  • Organisational Change within the Stockbroking Industry: A Contracting Perspective, with R Czernkowski, Abacus 27, 2, 97-116, September 1991.
  • A General Theory of Financial Reporting: Is it Possible?, International Journal of Accounting 25, 221-233, 1991
  • Australian Audit Reports 1979-1989, with R Simnett, The Australian Accounting Review 1, 1, Summer, 12-19, 1991.
  • The Determinants of Brokerage Fees in a Competitive Environment, Accounting and Finance 31, 1, 51-68, May 1991. [ recipient of 1991 outstanding manuscript award, AAANZ]
  • The Size Effect From a Transaction Cost Perspective, with G Ferris, Journal of Banking and Finance 15, 1991, 1195-1202.
  • Information Leakage Before Takeover Announcements: Insider Trading or Market Anticipation, with R Czernkowski, Accounting and Business Research 89, Winter, 1992, 3-20.
  • Principal Trading and Agency Trading by Brokers is Complementary: The Welfare Effects of Deregulating Agency Trading and Banning Principal Trading, with P L Swan, Accounting and Finance 33, 2, November 1993,19-42.
  • The Information Value of Segment Information: Australian Evidence, with R Czernkowski and C Hooper, Abacus 30, 1, March 1994 , 65-77.
  • The Intra-day Impact of Block Trading on Australian Stock Exchange: Further Transaction Time Analysis, with A Frino and S Sayers, Asia-Pacific Journal of Management 11, 2, October 1994, 237-254.
  • Accounting Policy Choice in the Australian Property Industry:A Portfolio Approach, with J Loftus, Accounting and Finance 34, 2, November 1994, 1-20.
  • How Brokers Facilitate Trade for Long-Term Clients in Competitive Securities Markets, with G Garvey and P Swan, Journal of Business 68, 1, January 1995, 1-34.
  • Intraday Price Response and Order Imbalance Surrounding Earnings Releases, with P Brown, A Frino and T Walter, ASX Perspective 1, 31-35, 1995.
  • Principal Trading by Stockbrokers, with P Latimer, Australian Journal of Corporate Law 5, 1-16, 1995.
  • Determinants of Delay in a Company's Audit Report?, with F Choo, M Firth and R Simnett, Advances in Accounting 13, 1-20, 1995.
  • Is There and Optimum Tick Size?, with A. Frino and H Madhoo, ASX Perspective 4, 18-24, 1995.
  • An Intraday Analysis of the Probability of Trading on the ASX at the Asking Price, with P Brown, H Izan, A Kua and T Walter, Australian Journal of Management 20, 2, 115-154, December 1995. [Recipient of 1995 prize for the best manuscript]
  • The Asymmetry of Price Behaviour Surrounding Block Trades, with A Frino, Abacus 32, 1, March 1996, 54-61.
  • The Determinants of the Bid-Ask Spread: Cross-sectional Analysis, with A Frino, Accounting and Finance 36, 1, 51-64.
  • Execution Costs Associated with Institutional Trades on SEATS, with A Frino, Pacific Basin Journal of Finance 4, 45-58, 1996.
  • Price Clustering on the ASX, with P Brown, C. Buckland, H Izan and T Walter, Pacific-Basin Finance Journal, 297-314, 1996.
  • The Accuracy of the Tick Test: Evidence from the Australian Stock Exchange, with A Frino, Journal of Banking and Finance 20, 10, 1715-1729, 1996.
  • Consensus Analysts' Earnings Forecasts and Security Returns, with A Frino and R Winn, Forthcoming, Asia-Pacific Journal of Management 13, 2, 101-110,1996.
  • Are Options Beneficial for Investors of Underlying Stocks?, with Alex Frino and Elvis Jarnecic, ASX Perspective 3, 72-76,1996.
  • How much did we gain from the Halving of Stamp Duty?, with P. Swan, ASX Perspective 2, 4-10, 1997.
  • Determinants of Voluntary Disclosure of Segment Information: A Re-Examination of the Role of Diversification Strategy, with C Hooper and J Pickering, Accounting and Finance 37, 89-110, 1997.
  • Intraday Returns and the Frequency of Trading at the Ask in Stock Index Futures Markets: A Research Note, with A. Frino and E. Jarnecic, Abacus, 1997.
  • Intraday Price Behaviour Surrounding Short Trades: Evidence from the Australian Stock Exchange with A Frino, M McCorry and P Swan, Journal of Finance 53, 6, December 1998, 2205-2224.
  • Asia's Financial Markets: Capitalising on Reform; Chapter 5, with C. Comerton-Forde and Others, East Asia Analytical Unit, 1999
  • The Impact of NASDAQ Listing on ASX Stocks, ASX Perspective, 1st Quarter, 2000, 64-67.
  • Intelligent trading in the Twenty-first Century: It's not all Upside, with Carole Comerton-Forde, The Bridge Handbook of World Stock, Derivative and Commodity Exchanges, Bridges, Mono Visione 2000, cxciv-cc.
  • Rationalising Clearing and Settlement in Australia: A User Perspective, SIRCA Industry Report, written in association with Carole Comerton-Forde and Michael Briers on behalf of the Australian Securities Markets Users Group (AUSMUG), 24 October 2000, 46 pages.
  • Picking Off, Quote Matching And The Use Of Undisclosed Limit Orders, with H. Berkman and D. Mak, Journal of Banking and Finance, forthcoming 2001.
  • The Impact of Brokers' Recommendations: Australian Evidence, with J. Muthuswamy and K Wong, Pacific Basin Journal of Finance, forthcoming 2001.
  • 32 fortnightly columns between March 2000 and April 2001 for the weekly magazine Investor's Advisor on a wide range of policy issues relating the design of securities markets.
  • Opening the Curtain on Window Dressing, with Carole Comerton-Forde, The Bridge Handbook of World Stock, Derivative and Commodity Exchanges, Bridges, Mono Visione, 2002, pages lxxxv -lxxxiv.
  • How Should Liquidity be Measured?, with Carole Comerton-Forde, Pacific Basin Journal of Finance, forthcoming, 2002.