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Dr Marie dela Rama

Associate Lecturer, Management Discipline Group
B.Bus (Hons) B.A (UTS), PhD (Corporate Governance)
Member, Australian and New Zealand Academy of Management (ANZAM)
+61 2 9514 3635
Can supervise: Yes


dela Rama, M.J. 2012, 'Family-Owned Asian Business Groups and Corporate Governance' in Clarke, T. & Branson, D. (eds), The SAGE Handbook of Corporate Governance, SAGE Publications Limited, London, UK; Thousand Oaks, CA, pp. 406-427.
The following URL contains the details of the edited book. http://www.uk.sagepub.com/books/Book230401?siteId=sage-uk&prodTypes=any&q=branson&fs=1#tabview=toc I have received the PDF copy of my chapter from the publisher which I can send.
Clarke, T. & dela Rama, M.J. 2004, 'The impact of socially responsible investment upon corporate social responsibility' in Crowther, D. & Rayman-Bacchus, L. (eds), Perspectives on Corporate Social Responsibility, Ashgate Publishing, Adershot, pp. 161-185.


dela Rama, M.J., Volonte, C. & Zaby, S. 2014, 'Ceteris Paribus: Corporate Governance Practices in the Philippines and Switzerland', 27th Australia and New Zealand Academy of Management Conference 2013, Australia and New Zealand Academy of Management, Hobart, pp. 1-23.
Double peer-reviewed conference paper held in December 2013
dela Rama, M. & Dalton, B.M. 2014, 'The Visible Arm of Government - Corporate Governance of South Korean Chaebols', 28th ANZAM Conference 2014, ANZAM.
Private sector ownership in South Korea is dominated by chaebols. Chaebols are business groups and are collections of firms bound together in some formal and/or informal ways, characterized by an 'intermediate' level of binding. (Granovetter 2001: 69-70) This paper discusses the corporate governance environment of South Korea and its chaebols. While chaebols are key actors in South Koreas development, this paper extensively discusses the very visible arm of government and how chaebols have had to navigate their relationship with the state in order to continue their operations. The might of the state will continue to dominate chaebol decision making and structure.
Baldwin, R.J., Chenoweth, L. & dela Rama, M.J. 2013, 'Managing at the edge of an ageing Australia: Trends in the organisation ofresidential aged care in Australia :are we learning from evidence', Australian New Zealand Academy of Management, Australian New Zealand Academy of Management, Canberra, pp. 1-1.
This paper reports the analysis of trends in the structural elements of the residential aged care industry in Australia over the ten years to 2012 and finds that the average size of services and the proportion of services provided by for-profit providers are increasing, in urban Australia, with the opposite trends in regional and remote locations. These trends are discussed within the current policy parameters of the Australian government and the recommendations of recent commissioned reviews
Baldwin, R.J., Chenoweth, L., dela Rama, M.J. & Liu, Z. 2013, 'Quality failures in residential aged care in Australia: an analysis of the relationship between structural factors and regulation imposed sanctions', Australian Social Policy Conference 2013, Social Policy Research Centre, University of New South Wales, Kensington, NSW.
This paper examines the relationship between structural characteristics of residential aged care facilities and the imposition of sanctions on residential aged care facilities (RAC) by the Australian Government between 2000 and 2012.
dela Rama, M.J. & Errington, A.E. 2012, 'The Pivotal Role of and Pervasive Influence of Business Groups in East Asia', Managing for Volatility and Instability, 26th Annual Australian and New Zealand Academy of Management Conference, Perth, Western Australia, pp. 1-28.
Double peer-reviewed conference: "The invitation to ANZAM members, both academic and practitioner, and professionals with a passion, interest and experience in management and associated fields to join us for the 26th ANZAM Conference resulted in the submissions of over 400 papers. After the traditional ANZAM double blind peer review under the guidance of the stream chairs, the papers that meet the required academic rigour and standard are included in these Conference Proceedings presented over the three day conference. The double blind peer review process resulted in the acceptance of 285 papers, all presented in the traditional ANZAM discipline and interest sessions as clustered by the stream chairs."
Hermens, A., dela Rama, M.J. & Hermens, G. 2012, 'Strategic Decision-Making and Board Leadership at an Australian Credit Union', 26th Annual Australia and New Zealand Academy of Management Conference, Australia and New Zealand Academy of Management Conference, Perth, Western Australia, pp. 1-18.
Double peer-reviewed: "The invitation to ANZAM members, both academic and practitioner, and professionals with a passion, interest and experience in management and associated fields to join us for the 26th ANZAM Conference resulted in the submissions of over 400 papers. After the traditional ANZAM double blind peer review under the guidance of the stream chairs, the papers that meet the required academic rigour and standard are included in these Conference Proceedings presented over the three day conference. The double blind peer review process resulted in the acceptance of 285 papers, all presented in the traditional ANZAM discipline and interest sessions as clustered by the stream chairs."
dela Rama, M.J. 2010, 'Going to Market: Family-Owned Business Groups, Financing and Corporate Governance', Annual Meeting of European Academy of Management: Back to the Future, Corporate Governance Track No.7 on Corporate Governance and the Crisis of Financialization?, Rome, pp. 1-48.
Conference paper was double peer-reviewed. Following website contains abstract of paper. http://www.economia.uniroma2.it/euram/paper_view.php?id=1565&p=10
dela Rama, M.J. 2010, 'The dominance of family owned business groups in the Philippines', 24th Annual Australian and New Zealand Academy of Management Conference : Managing Unknowable Futures, ANZAM, Australia, pp. 1-15.
Family-owned business groups have long dominated the East Asian corporate landscape. This paper looks at the dominance of business groups in the Philippines and tries to explain their dominance by their role as filling the institutional voids left by government due to decades of political and economic instability. The paper also discusses the applicability of agency theory in the country. Finally, the paper looks at the downside to this common form of corporate organizing and how family businesses reflect the oligarchical nature of the countrys stratified society.
dela Rama, M.J. 2010, 'Adventures with NVivo: Analysing ethnographic results and the particularistic aspect of node saturation', 24th Annual Australian and New Zealand Academy of Management Conference : Managing Unknowable Futures, ANZAM, Australia, pp. 1-15.
This paper looks at a researcher's experience of analysing results from an ethnographic study of corporate governance in a developing country. After collecting three forms of data - interview questionnaire, media articles and participant observation - a computer assisted qualitative analysis data program called NVivo was applied. This paper looks at the adventure or experience of analysing the data and the particularistic concept of node saturation that emerged whilst using the program to analyse the data. The use of NVivo has allowed for a thicker and richer discovery and analysis of the data but the inductive method applied in the analysis was also a time-consuming aspect in this particular research experience.
dela Rama, M.J., Edwards, M. & Dalton, B.M. 2008, 'Honourable Intentions? Analysing Private Equity's Interests in the Aged Care Sector', Australia and New Zealand Third Sector Review 9th Biennial Conference, ANZTSR, Auckland, New Zealand, pp. 1-27.
The abstract for the conference paper was accepted and currently appears on p.19 of the full list of abstracts for the conference. This paper was co-written with Melissa Edwards and Bronwen Dalton. This paper is currently under peer review for publication in a journal.
dela Rama, M.J. 2007, 'Private equity enters the Australian aged care system'.
I was a speaker at the 2007 national conference of the Aged and Community Services Australia which represents the non-profit and community organizations that provide aged care. I spoke on the entrance of private equity players into the sector. I was the first speaker for the session on Financial Sustainability which was held on the 2nd day of the conference. There were 3 speakers in my session and the session was chaired by the CEO of Aged Care Queensland.
dela Rama, M.J. 2007, 'The Impact of Corporate Governance Reforms on Two Asia Pacific Stock Exchanges', 2nd Asia Pacific Economic Business History Conference: Varieties of Capitalist Development and Corporate Governance, APEBH, Sydney, Australia, pp. 1-32.
Stock markets and their institutional administrators - stock exchanges - play important roles in fostering good standards of corporate governance. (Maasen 1999:80) They are important corporate governance institutions in countries being intrinsically involved in the life cycle of public companies through listing, overseeing, regulating and delisting. In essence, they play a central role in the economic activities of the private sector. According to Summers (1987), financial markets are the wheels of economic growth, and local stock exchanges are the keystone of the financial market-centred model of national economic growth. (Weber & Davis 2000: 4). Stock markets channel capital, are mechanisms for effective governance, and are a fulcrum for producing institutional and social change within an economy. Firstly, this paper discusses the major corporate governance systems around the world. Secondly, current corporate governance reforms are examined with reference to the profound influence of the OECD Principles of Corporate Governance (1999, revised 2004), and the criticism of the Principles. Thirdly, the growth of capital markets from 1990 to 2005 and the dominance of Anglo-American stock exchanges are examined. Fourthly, the state of two stock exchanges in two Asia Pacific countries with differing socio-economic histories is compared: the Australian Stock Exchange with the Philippine Stock Exchange. Finally, the paper concludes with recommendations for the future direction of corporate governance reforms.
dela Rama, M.J. 2007, 'Private equity and the aged care sector'.
ABSTRACT: This presentation looks at the entrance of private equity into the aged care sector. The 'new' owners in the aged care sector can be characterized by the ownership structure and investment horizon of their corporate entity. As the name suggests, the shares of private equity entities are generally not listed and are held in private hands. Due to the nature of private equity investing, aged care facilities are seen as part of a portfolio of assets. Therefore, the performance of this portfolio depends on the other assets (such as roads, airports, car parks etc). As this is an emergent ownership trend, more research is required to further analyse the impact of private equity owners on the aged care sector.
dela Rama, M.J. & Clarke, T. 2006, 'A tale of two stock exchanges: Globalisation, corporate govenance and convergence.', XVI ISA World Congress of Sociology: The Quality of Existence in Globalising World, ISA, Durban.
Clarke, T. & dela Rama, M.J. 2004, 'Sustainable & Responsible Investment : Creating Knowledgeable Action', -, -, -.

Journal articles

Dalton, B.M. & dela Rama, M. 2014, 'Business Ethics During Mixed Modes of Exchange: South Korean ChaebolsSuccession Challenge', Korea Observer, vol. 45, no. 3, pp. 415-435.
In his study on pathways to economic development, John Lie (1992) developed the concept of modes of exchange and identified four typologies: market, manorial, mercantile and entrepreneurial. We discuss the relevance of these typologies to Koreas post-war economic development and focus specifically on how modes of market exchange may affect wider interpretations of business ethics. In the post-war period, we argue that there was no linear or clearly-staged trajectory from one mode of exchange to another and, in this context of uncertainty, elites used this as an opportunity to rationalize and justify certain practices. However, the 1997 Asian financial crisis unleashed forces that drove a significant shift towards the establishment of a more open and globalized market environment. This has created new challenges for the chaebol and its attempts to hold on to structures of the past, in particular to maintain family ownership through succession from father to son.
dela Rama, M.J. 2012, 'Corporate Governance and Corruption: Ethical Dilemmas of Asian Business Groups', Journal of Business Ethics, vol. 109, no. 4, pp. 510-519.
View/Download from: Publisher's site
This study looks at how the corporate governance of family-owned business groups, the most dominant form of private sector organising in Asia, deals with different forms of corruption during the course of common business transactions. As a part of an ethnographic study conducted in 2007 to look at the impact of corporate governance reforms in the Philippines, one of the emergent themes from the study was the presence of significant corruption in the business environment of the country. A total of 40 semi-structured interviews were conducted with board members from business groups and senior public sector officials supplemented by document analysis of media articles and other text and participant observation. Using Rose-Ackermans typology of petty and grand corruption, results show the dilemmas faced when trying to operate within the precepts of corporate governance whilst dealing with the practical reality of corruption in public sector institutions. The results of the study provide empirical evidence into corruptions impact on Asian business groups and contribute to knowledge on the links between strong institutions and the efficacy of corporate governance.
dela Rama, M.J., Edwards, M., Dalton, B.M. & Green, J. 2010, 'Honourable Intentions? Analysing the interests of private equity in the aged care sector', Third Sector Review, vol. 16, no. 3, pp. 63-82.
The Australian aged care industry was once dominated by non-profit organisations but recently ownership has changed significantly with the entry of for profit and in particular private equity investment vehicles. This paper provides an overview of the main players and the effects of private equity on the Australian aged care sector. The analysis is framed within the literature which examines the relationship between ownership type and the quality of community services. It also presents a series of case studies which suggest that a change of ownership from non-profit to private equity may have significant consequences for the quality of service provision.
dela Rama, M.J. 2009, 'Pension funds in a highly politicised environment: The case of the Philippines', Pensions: An International Journal, vol. 14, no. 4, pp. 242-258.
View/Download from: Publisher's site
This article seeks to contribute to greater understanding of the challenges faced by pension funds in developing countries. This paper reviews the investment decisions and strategies of two government owned pension funds in a highly politicized environment. The Government Service Insurance System (GSIS) and the Social Security System (SSS) are both government owned pension funds located in the Philippines. Interviews were conducted in 2007 with representatives from both pension funds, and other public and private sector interviewees as part of a broader research into the turbulent corporate governance landscape of the country. Feedback from reviewers: "With regards to your article, one reviewer was very complimentary; noting that your paper combined politics, history and some relevance to pensions reform around the world with an emphasis on investment. The Guest Editor for the special issue echoed these thoughts by highlighting the political issues that your paper raised." email correspondence from Victoria Rae, Publications, Palgrave MacMillan, 15 June 2009
dela Rama, M.J. 2007, 'Aged care money may be heading in wrong direction.', The Age: Business Day, vol. September, no. 16th, pp. 6-6.
I was asked to write an opinion piece for the Melbourne newspaper, The Age, which was based on my presentation at the Aged and Community Services Australia held in Melbourne. This article appeared on 16th September 2007, the day of my conference presentation.
dela Rama, M.J. 2007, 'Private equity, subsidies and the care sector', Brisbane Line, vol. 8, no. November.
We are hearing more and more about private equity nowadays. But while it is growing in importance and influence, the nature and purposes of private equity appear little understood. In this article, Marie dela Rama shines a light on recent private equity activity in the aged care sector in Australia and around the world.

Non traditional outputs

dela Rama, M.J. 2007, 'Private Equity and the Australian Aged Care Sector', Perspective Program, ABC Radio National, ABC Studios, Ultimo, Sydney.
This was a radio broadcast I made for the Perspective program of ABC Radio National, 576AM. It was first broadcast on the 26th of September 2007 at 5:55pm and the duration was 5 minutes. The transcript is available on the followng website http://www.abc.net.au/rn/perspective/stories/2007/2041382.htm


dela Rama, M.J., Edwards, M. & Dalton, B.M. Australian Parliament House 2008, Submission No. 14 to the Australian Senate Community Affairs Committee on the Inquiry into the the Aged Care Amendment (2008) Measures No. 2 Bill, pp. 1-12, Canberra, Australia.
With two other School of Management colleagues, Melissa Edwards and Bronwen Dalton, we made this submission into the following Community Affairs Committee Inquiry. This submission was later cited by Ian Verrender, a Sydney Morning Herald journalist in his business column "Profit Not Improvement", 29th November 2008 http://business.smh.com.au/business/profit-not-improvement-the-motive-for-many-in-care-sector-20081128-6mz2.html
dela Rama, M.J. Parliament House 2007, Submission No.5 to the Australian Senate Economics Committee on Private Equity, pp. 1-13, Canberra.
I made a submission to the Senate Economics Committee on Private Equity Investment. My submission was cited on pages 53-54 of the main report "Private Equity Investment in Australia". The report is located here: http://www.aph.gov.au/Senate/committee/economics_ctte/private_equity/report/