Three will graduate from the AUT Business School

More than 3200 people will graduate from AUT University next week, the largest graduation to date. It includes seven doctors of philosophy Tristan Bellingham, Youhua (Alex) Du, Aaron Gilbert, Rosemary Godbold, Jill Poulston, Thomas Samuel and Natasja Steenkamp.

Three will graduate from the AUT Business School:

Aaron Gilbert
The Efficacy and Microstructure Effects of Insider Trading Regulations

AUT lecturer Aaron Gilbert examined the role of regulation in controlling insider trading, and found the Securities Market Amendment Act 2002 has had a positive impact. A significant decline in insider profitability was observed, as well as a change in the informational basis of insiders' trades. The law also appears to have increased market liquidity while reducing bid-ask spreads, volatility and companies cost of equity, and reduced the informational asymmetry in the market. He also identified aspects of the law that appear to be effective in reducing information asymmetry. Several features including strong public enforcement were identified as key.

Thomas Samuel
The Impact of Trade Liberalisation on Economic Structure and Performance: Case of the OECS

Thomas Samuel examined the Organisation of Eastern Caribbean States (OECS) which has a policy of trade liberalisation as a strategy for growth and development. Theoretical arguments in support of this policy assume a positive link between trade liberalisation and economic growth. This thesis evaluated these claims against the nature of the impact of trade liberalisation on the export structure, overall economic growth performance and other aspects of the OECS economy. He found trade liberalisation was repeatedly negatively associated with growth, and concluded sustained growth would depend on domestic policy action and reform of the international trade rules.

Natasja Steenkamp
Intellectual Capital Reporting in New Zealand: Refining content analysis as a research method

Natasja Steenkamp examined voluntary intellectual capital (people, knowledge, brands, customers, technological processes and networking systems) reporting in New Zealand firms' annual reports. This was done with a view to contribute to the development of guidelines for the identification, measurement, reporting and management of intellectual capital. She found the intellectual capital resources mostly disclosed by New Zealand firms are employees, their work-related knowledge and education, brands and corporate image building. These firms do not report a dollar value of their intellectual capital, and 35 per cent of all intellectual capital reporting is presented as photographs.

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