RDP 9216: The Evolution of Corporate Financial Structure: 1973–1990 Appendix 1: Data

The database used in this study consists of 224 firms. There are both listed and unlisted firms in the sample; however, no financial institutions have been included because of their different balance sheet structures. Of the 114 firms that do not have complete data series, 22 firms do not have data until in 1973 and 104 firms ceased to have data available prior to 1990. The firms that left the sample prior to 1990 did so for a variety of reasons. Some were taken over or merged with other companies thereby losing their identity in the parent company. These firms continued operating but did not generate separate financial statements and thus had to be excluded. Others left the sample because of financial distress. A full listing of the companies in the database is given below. Those with an asterisk do not have complete data for the entire sample period.

Adelaide Steamship Co Ltd Industrial Equity Ltd*
Australian Consolidated Investments Parry Corporation Ltd*
Bond Corporation Holdings Ltd WR Carpenter Holdings Pty Ltd*
Foster's Brewing Group Ltd  
Aberfoyle Ltd Offshore Oil N L
Ampolex Ltd Pancontinental Mining Ltd
Ashton Mining Ltd* Peko Wallsend Ltd*
Austen & Butta Ltd* Pilbara Iron Ltd
Australian Oil & Gas Corporation Ltd* Placer Pacific Ltd*
Bridge Oil Ltd* Queensland Mines Ltd*
Clutha Ltd Renison Goldfields Consolidated Ltd
Coal & Allied Industries Ltd* Santos Ltd
Consolidated Rutile Ltd Shell Development (Australia) Ltd*
CRA Ltd Swiss Aluminium Australia Ltd*
Crusader Ltd The Moonie Oil Co Ltd*
ERA* Thiess Bros Pty Ltd
Genoa Resources & Investment Ltd* Thiess Dampier Mitsui Coal Pty Ltd*
Gove Aluminium Ltd Ulan Coal Mines Ltd*
Griffin Coal Mining Co Pty Ltd* Utah Mining Australia Ltd*
Hartogen Energy Ltd* Vamgas Ltd
MIM Holdings Ltd Western Mining Corporation Holdings Ltd
Newcrest Mining Ltd* White Industries Australia Ltd*
North Broken Hill Peko Ltd Woodside Petroleum Ltd
Oakbridge Ltd*  
ACI International Ltd* Dupont Australia Ltd*
Adelaide Brighton Cement Holdings Ltd EFFEM Foods Pty Ltd*
Advertiser Newspapers Ltd* Email Ltd
Alcan Australia Ltd EPT Group Holdings Ltd*
Alcoa of Australia Ltd Ericsson Australia*
Altona Petrochemical Co Ltd* Esso Australia Ltd
Amcor Ltd F H Faulding & Co Ltd
AMI Toyota Ltd* Ford Motor Company of Australia Ltd
Arnotts Ltd G E Crane Holdings Ltd
Associated Pulp & Paper Mills* GEC Australia Ltd
Australian Chemical Holdings Ltd General Motors-Holden's Automotive Ltd*
Australian National Industries Ltd George Weston Foods Ltd
Australian Newsprint Mills Ltd* Gibson Chemical Industries Ltd
AWA Ltd Goodman Fielder Wattie Ltd
Beatrice Australia Ltd* Goodyear Australia Ltd*
Blue Circle Southern Cement Ltd* Hawker de Havilland Ltd
Bonds Industries Ltd* Hills Industries Ltd
Boral Ltd HJ Heinz Co Aust Ltd
Borg Warner (Australia) Ltd* Hoechst Australia Ltd*
Bowater Corporation of Australia Ltd* Humes Ltd*
Bowater Industries Australia Ltd* Hunter Douglas Australia Ltd
BP Australia Ltd ICI Australia Ltd
Brick & Pipe Industries Ltd* J Gadsden Australia Ltd*
Brickworks Ltd James Hardie Industries Ltd
Bridgestone Australia Ltd JI Case (Australia) Pty Ltd*
BTR Nylex Ltd John Fairfax Group Pty Ltd*
Bundaberg Sugar Co Ltd Johnson & Johnson Australia Pty Ltd*
Bunnings Ltd JRA Ltd*
Bushells Holdings Ltd* Kellogg (Aust) Pty Ltd*
Cadbury Schweppes Australia Ltd* Kimberly Clark Australia Pty Ltd
Caltex Australia Ltd Kodak (Australasia) Pty Ltd*
Carlton & United Breweries Ltd* Kraft Foods Ltd*
Castlemaine Tooheys Ltd* McPherson's Ltd
Caterpillar of Australia Ltd* Metal Manufactures Ltd
Chamberlain Holdings Ltd* Mitsubishi Motors Australia Ltd
Cheetham Salt Ltd* Mobil Oil Australia Ltd
Ciba-Geigy Australia Ltd Monier PGH Ltd*
Clyde Industries Ltd Monsanto Australia Ltd*
Coca-Cola Amatil Ltd National Can Industries Ltd*
Comalco Ltd National Consolidated Ltd
Commonwealth Industrial Gases Ltd* NEC Australia Pty Ltd*
Consolidated Press Holdings Ltd Group* Nestle Australia Ltd
CSBP & Farmers Ltd* Nicholas Kiwi Ltd*
CSR Ltd Nissan Motor Manufacturing Co (Aust) Ltd
Dow Chemical (Aust) Ltd Nucleus Ltd*
Nylex Corporation Ltd* Siemens Ltd*
OPSM Pty Ltd Softwood Holdings Ltd*
Pacific Dunlop Ltd Sperry Ltd*
Petersville Sleigh Ltd* Standard Telephones & Cables Pty Ltd*
Phillip Morris (Australia) Ltd* Textron Pacific Ltd*
Phillips Industries Holdings Ltd* The Broken Hill Proprietary Co Ltd
Pilkington (Australia) Ltd The Herald & Weekly Times Ltd*
Pioneer International Ltd The News Corporation Ltd
Pioneer Sugar Mills Ltd* Thorn EMI (Australia) Ltd*
Queensland Alumina Ltd* Tooth & Co Ltd
Queensland Cement Ltd* Toyota Motor Corporation Australia Ltd
Queensland Press Ltd* Tubemakers of Australia Ltd
QUF Industries Ltd Unilever Australia Ltd*
Reckitt & Coleman Australia Ltd* Union Carbide Australia & New Zealand
Repco* Ltd*
Rothmans Holdings Ltd Wattyl Ltd
SA Brewing Holdings Ltd Wormald Australia Pty Ltd
Shell Australia Ltd  
Brash Holdings Ltd LNC Industries Pty Ltd*
Coles Myer Ltd Nissan Motor Co (Aust) Pty Ltd
David Jones Ltd The Myer Emporium Ltd*
Fujitsu Australia Ltd Waltons Bond Ltd*
Hastings Deering Corporation Ltd Wang Australia Pty Ltd*
IBM Australia Ltd Woolworths Ltd*
John Martin Retailers Ltd*  
Ansett Transport Industries (Operations) Latec Investments Ltd
Pty Ltd Leighton Holdings Ltd
Austmark International Ltd* Lend Lease Corporation Ltd
Brambles Industries Ltd Mayne Nickless Ltd
Costain Australia Ltd* Mcllwraith McEacharn Ltd
Eastwest Airlines Ltd* P & O Australia Ltd*
ENT Ltd SAGASCO Holdings Ltd*
Entrad Corporation Ltd* Spotless Group Ltd
Howard Smith Ltd TAL Holdings Ltd*
Hoyts Entertainment Ltd The Australian Gas Light Company
Jennings Group Ltd The Greater Union Organisation Pty Ltd*
John Holland Group Pty Ltd* TNT Ltd
Kern Corporation Ltd Westfield Holdings Ltd*
L J Hooker Australia Ltd*  
Burns Philp & Company Ltd Marubeni Australia Ltd
C Itoh & Co (Aust) Ltd Mazda Australia Pty Ltd*
Charles Davis Ltd Mercedes Benz (Australia) Pty Ltd*
Edwards Dunlop & Co Ltd* Mitsui & Co (Australia) Ltd
Gordon and Gotch Ltd* Southern Farmers Group Ltd*
Great Western Australia Ltd* Toyota Motor Sales Australia Ltd*
Honda Australia Pty Ltd* Volvo Australia Pty Ltd*
Honeywell Holdings Pty Ltd* Washington H Soul Pattinson & Co Ltd

Aggregate and industry Gross Domestic Product figures were taken from the Australian Bureau of Statistics publications catalogues 5206.0 and 5222.0 respectively. They run from the third quarter in 1974 through to the first quarter in 1992. Mining, manufacturing, wholesale and retail trade are taken directly from 5222.0 while service output is approximated by the aggregation of the transport and storage, the communication and the finance, property and business services industries.

Nominal total Gross Domestic Product and the Net Operating Surplus of corporate trading enterprises (including public trading enterprises) was obtained from catalogue 5204.0 published by the Australian Bureau of Statistics.

The total assets of private corporate trading enterprises in 1990 was obtained from the Australian Bureau of Statistics, catalogue 5232.0.

The Overdraft interest rate in Graph 7 was extracted Table F.3 in the Reserve Bank of Australia Bulletin series. It is the minimum of a range of indicator rates reported by major Australian banks.

The total assets of financial institutions, excluding the Reserve Bank of Australia, were obtained from Table 3.4A of Occasional Paper No. 8, published by the Reserve Bank in 1990.