Australian Centre for Financial Studies

The Australian Centre for Financial Studies (ACFS) is a not-for-profit research centre of Monash Business School. ACFS specialises in leading-edge finance and investment research. We aim to boost the global credentials of Australia’s financial industry, bridge the gap between academia and industry, and support Australia as an international centre for finance practice, research and education.

We facilitate linkages between academics, industry practitioners and government, and draw on the expertise and experience of each of these groups to promote the transmission of knowledge throughout the greater finance community. We have developed a strong reputation as an independent voice on industry-relevant matters. We contribute to public debate on financial sector issues; conduct detailed, expert analysis; deliver unbiased contracted research to industry partners; host a wide range of knowledge-sharing activities including conferences, lecture series, lunchtime briefings, twilight seminars and roundtable discussions; and facilitate three Research Program Committees that link senior industry and academic leaders in the fields of banking, funds management and insurance. We also engage with major government reviews such as the Financial System Inquiry, Tax White Paper and Productivity Commission inquiries.

The theme that comes through all of our research and events is consistent: that financial services as an industry is about providing an essential service, whether that be facilitating payments, creating credit, accumulating wealth or mitigating risk. Our research speaks to how the industry is collectively providing for the needs of the broader Australian economy.

Research in Monash Business School shapes and addresses the complex business challenges of the 21st century. School’s mission is to engage in the highest-quality research and education to have a positive impact on a changing world. Through this, ACFS and Monash University support Australia as an international centre for finance practice, research and education.


Displaying 1 - 20 of 44 articles

Research shows that poor and wealthy retirees spend about the same during their retirement.

Poor and rich retirees spend about the same

Giving rich households superannuation concessions is not justified according to new research which says these retirees spend as much as their poorer counterparts.
Customers have the most to gain out of a review of the powers of the Financial Services Ombudsman, which sits under ASIC. Sergio Dionisio/AAP

Stronger role for ombudsman is the key to protecting bank customers

Out of the many changes the federal government has made to ASIC, the review of the Financial Ombudsman will have the biggest impact on customers.
The idea of a sharing platform that renders the financial warehouse obsolete is fanciful. Image sourced from

Uberbanking, with limits

Financial services are being digitally disrupted, but the idea of a financial "sharing" economy replacing traditional banking ignores reality.
The new Trans-Pacific trade deal has its sights squarely on financial services. Image sourced from

Growing our services industry will be the main gain from the TPP

Trade minister Andrew Robb must now "sell" the benefits of the Trans-Pacific Partnership - he could do worse than to concentrate on how our services sector will gain.
Pending business for a new treasurer is a government response to the Financial System Inquiry led by David Murray. AAP/Sam Mooy

The unfinished business facing Australia’s new treasurer

A bulging in-tray of reviews awaiting response awaits Malcolm Turnbull's choice of treasurer in his new cabinet.
Large Australian banks are being required to significantly increase their levels of equity capital. Image sourced from

Explainer: banks are raising capital, but should we be worried?

Investors may not like it but Australian banks have been given little choice by the prudential regulator other than to undertake capital raisings.
PayPal is far more dominant in online payments in the US than Australia where traditional players have defended the market. Geoff Livingston/Flickr

Fintech might be hot right now, but banks are still winning

Venture capital money is starting to flow into Australian fintech, but success will largely be based on whether new players can innovate in areas where bank's aren't.
Alternative sources of information about an individual’s behaviour provide new opportunities for credit assessment. Image sourced from

What you need to know about peer-to-peer lending

Peer-to-peer (P2P) has the potential to challenge the dominance of traditional financial institutions like banks, but involves new risks for both lenders and borrowers.
It is true that our “headline” (or statutory) corporate tax rate of 30% is higher than that of many other countries. (AAP Image/Dean Lewins)

FactCheck: is Australia’s corporate tax rate not competitive with the rest of the region?

“Well, Jon, the Government’s about to bring in a 1.5% corporate, or company, tax cut from the 1st of July. That’s something that obviously we support, because (the) corporate tax rate at 30% is not competitive…
Reserve Bank Governor Glenn Stevens has helped Treasurer Joe Hockey make his case for boosting the economy, but will it be enough? Alan Porritt/AAP

How to multiply the rate cut impact and unshackle the economy

This week’s Reserve Bank interest rate move surprised virtually everyone, bringing the cash rate to 2.25%, yet another historic low. Despite Australian Treasurer Joe Hockey suggesting the rate cut means…
With banks pulling back on lending to small business, the sector has had to look elsewhere for funding. Shutterstock

Small business feeling the lending crunch – and three ways to help

Since the global financial crisis, credit growth in Australia has returned. But while growth in home lending between 2008 and 2014 was relatively strong (0.49% per month), it was actually negative for…
Despite the fact that Australians are getting wealthier, financial literacy is not increasing at the same rate. shutterstock

Millions of households are missing out on good financial planning

The wealth profile of Australian households has changed phenomenally over the past 25 years, according to a recent paper from the Australian Centre for Financial Studies. Thanks to increases in asset prices…
The big four banks have a well-entrenched sales culture. deepwarren/Flickr

The future of financial advice is set to remain conflicted

Reading between the lines it appears the panel behind Australia’s wide-reaching Financial System Inquiry believes all is not well in the financial advice industry, despite last year’s implementation of…
Small investors, such as those caught in Storm Financial’s collapse, need ongoing protection. AAP/Dan Peled

Resist efforts to water down FOFA, to protect all Australians

As public hearings into the Future of Financial Advice’s Senate inquiry begin on Thursday, it’s probably not overstating the case to say the financial planning industry is at a crossroads. With the F0FA…

Research and Expert Database


More Authors