The ongoing evolution of digital technologies, particularly Generative Artificial Intelligence, continues to shape and challenge assessment design in higher education. Given the complex and sometimes competing factors that contribute to assessment design, and the evolving digital landscape in which assessment is placed, this study examines the perspectives and priorities of five key stakeholder groups - educators, students, employers of graduates, accrediting bodies, and institutional policy-makers - regarding the defining characteristics of quality assessment. Using a mixed-methods approach, we conducted interviews, focus groups, and a national survey to extend a framework for designing quality digital assessments in business education that was originally developed using educator perspectives only. The findings highlight the importance of balancing academic integrity, feedback quality, student experience, and authenticity in assessment design to address stakeholder perspectives. They also extend the framework by including two additional design elements: purpose and technology, and by emphasising the value of dialogue about contrasting interpretations of assessment quality. The study provides a refined framework that incorporates nuanced differences in stakeholder priorities, supports educators in designing digital assessments that respond to stakeholder needs, and encourages co-design and shared accountability.

Although Australian regulators recommend that remuneration committees (RC) comprise directors who are independent, we argue that independence is not sufficient to avoid agency problems and counter managerial power. We evaluate a range of RC characteristics associated with executive compensation packages. We show that when independent directors, an independent chair or other firms’ CEOs sit on the RC, excess pay is likely to be lower. Furthermore, pay-performance sensitivity is higher when there are more senior directors on the RC. However, when directors are busy or the RC is diverse, executives are more likely to be overpaid. Overpayment and lower pay-performance sensitivity are also associated with the RC being influenced by the CEO, such as when the CEO sits on the RC or has appointed a high proportion of directors. Our results indicate that RC independence alone is insufficient for effective executive remuneration and we recommend appointing senior, experienced and less busy directors to increase RC effectiveness. JEL Classification: G34, G38, J33, J38

We express gratitude to Andres Lozano and Lily Polic for their extensive efforts in hand-collecting the data used in this study. We also thank the participants at the 2018 Financial Markets and Corporate Governance Conference, the 2018 European Accounting Conference, and to the seminar participants at the University of Mannheim, for their helpful comments. We have benefited from the constructive feedback provided by the two anonymous reviewers and the associate editor Beatriz Garcia Osma. Special thanks go to Paul Mather and Ted Christensen for their feedback, and to Dirk Black who kindly guided us in the calculation of the consistency and comparability measures. Luisa Unda acknowledges financial support from an Early Career Research Grant from the Monash Business School at Monash University. Sue Wright acknowledges financial support from the UTS Business School at University of Technology Sydney.

With the recent and rapid transition to online teaching and learning in higher education, this explanatory study investigated the key design considerations used by business educators designing assessments suitable for online delivery. From a comprehensive literature review, we identified five key design considerations for online assessments: they must (1) assure academic integrity; (2) allow for provision of quality feedback; (3) support a positive learning experience for students; (4) assure the integrity of student information; and (5) ensure all students have an equal chance to complete the assessment successfully. An additional consideration (authenticity) was identified through a survey of educators and four focus group discussions. Our analysis confirmed that scale of delivery and resource limitations, along with institutional policies and accreditation requirements, are broader and interrelated contextual factors that influence practices and decisions about assessment design. Focus group participants also identified constraints and trade-offs they negotiated in designing, evaluating and implementing online assessments. Based on our findings we propose a framework to assist educators in best-practice decision-making about online assessment design and contribute to the discourse between educators, higher education providers and professional accreditation bodies regarding online assessment.

We examine links between corporate cash holdings and types of CEO power, and how these affect firm performance, using agency and stewardship theories to distinguish two types of CEO power: one attributable to the CEO position, and one attributable to CEO personal characteristics. Measured as indices, we find positive associations with cash holdings for both types of power, individually and in combination, but only positional power with higher cash holdings is positively associated with firm performance. Our findings are shown to be robust and suggest that scrutiny of cash holdings by CEOs with high personal power may be prudent.

Australian Accounting ReviewEarly View Editorial Risk and Sustainability Issues Yaowen Shan, Corresponding Author Yaowen Shan [email protected] orcid.org/0000-0001-8634-1428 University of Technology Sydney Correspondence Email: [email protected]Search for more papers by this authorSue Wright, Sue Wright University of Technology SydneySearch for more papers by this author Yaowen Shan, Corresponding Author Yaowen Shan [email protected] orcid.org/0000-0001-8634-1428 University of Technology Sydney Correspondence Email: [email protected]Search for more papers by this authorSue Wright, Sue Wright University of Technology SydneySearch for more papers by this author First published: 02 April 2024 https://doi.org/10.1111/auar.12419 Editors-in-chief: Yaowen Shan and Sue Wright Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat No abstract is available for this article. References Adebayo, A. and Ackers, B. 2024, 'Managing Trade-Offs Between Environmental, Social, Governance and Financial Sustainability in State-Owned Enterprises: Insights from an Emerging Market', Australian Accounting Review, 34 (1): https://doi.org/10.1111/auar.12415. 10.1111/auar.12415 Google Scholar Alves, I., Limão, M. and Lourenço, S. 2024, 'Work Overload, Work–Life Balance and Auditors' Turnover Intention: The Moderating Role of Motivation', Australian Accounting Review, 34 (1): https://doi.org/10.1111/auar.12417. 10.1111/auar.12417 Google Scholar Bhuiyan, M.B.U., Opare, S. and Zahir Ahmed, Z., 2024, 'Does Audit Committee Busyness Affect Financial Restatement?' Evidence from Audit Committee Share Ownership, Australian Accounting Review, 34 (1): https://doi.org/10.1111/auar.12416. 10.1111/auar.12416 Google Scholar Hwang, J., Lee, C. and Nam, G., 2024, 'Classification Shifting and Future Stock Price Crash Risk', Australian Accounting Review, 34 (1): https://doi.org/10.1111/auar.12411. 10.1111/auar.12411 Google Scholar Early ViewOnline Version of Record before inclusion in an issue ReferencesRelatedInformation

Growth of the small and medium-size enterprise (SME) sector is traditionally an important driver of overall economic growth, particularly in emerging economies. SME growth is enhanced by access to finance (financial inclusion). In this study, we show that efficient working capital management has a positive influence on performance that is independent of the effect of financial inclusion. Our results remain robust to alternative measurements and estimations, and may be useful to national policy-makers in developing strategies for SMEs' greater access to finance and introducing ways of improving financial management education and training for SME managers.