Maria Balatbat

Senior Lecturer

My research interests include environmental and social accounting, corporate reporting and assurance of non-financial information such as Environmental, Social and Governance (ESG) and the value relevance of these information to the capital markets. I am also a founding member of a UNSW network, the Collaboration on Energy and Environmental Markets (CEEM). I have been teaching financial accounting in the undergraduate and postgraduate accounting programs for several decades. Recently, I have developed a postgraduate course on reporting for climate change and sustainability which is now taught to business, engineering and environmental studies students. I also teach and have co-developed a course on Integrated Reporting, a new course in the Business School that is accredited by the International Integrated Reporting Council (IIRC). Before joining UNSW, I worked as a Teaching Fellow at Nanyang Business School, Singapore and a Lecturer and RJ Chambers scholar at the University of Sydney. I have published my works in Australian and international refereed journals. Prior to my academic career, I have worked as a consultant and auditor in large accounting firms in the US and Asia. I am a Fellow at CPA Australia and a member of the Chartered Accountants of Australia and New Zealand.

Book Chapters
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Carmichael DG; Balatbat MCA, 2020, 'An alternative valuation of energy options for atypical markets', in Handbook of Energy Finance: Theories, Practices and Simulations, pp. 579 - 594, http://dx.doi.org/10.1142/9789813278387_0024
2020
Carmichael DG; Balatbat MCA, 2019, 'An Alternative Valuation of Energy Options for Atypical Markets', in Goutte S; Nguyen DK (ed.), Handbook of Energy Finance: Theories, Practices and Simulations, World Scientific Publishing, Singapore, http://dx.doi.org/10.1142/11213
2019
Balatbat MCA; Lin C-Y; Carmichael DG, 2015, 'Management efficiency performance of construction businesses: Australian data', in Built Environment and Property Management - A Focus on Australia, Emerald Group Publishing Limited, Bingley, United Kingdom, pp. 21 - 42
2015
Conference Papers
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Chard G; Balatbat M; Wiedmann T, 2018, 'The use of Environmentally Extended Input and Output Analysis to measure and evaluate the carbon and employment footprint of an equity investment', in The use of Environmentally Extended Input and Output Analysis to measure and evaluate the carbon and employment footprint of an equity investment, European Accounting Association, Milan, Italy, presented at European Accounting Association, Milan, Italy, 30 May 2018 - 01 June 2018, http://ceem.unsw.edu.au/sites/default/files/documents/Chard_etal_EAA_Paper_2018%20(1).pdf
2018
Carmichael DG; Malcolm CJ; Balatbat MCA, 2014, 'Carbon Abatement and Its Cost in Construction Activities', in Construction Research Congress 2014, American Society of Civil Engineers, presented at Construction Research Congress 2014, http://dx.doi.org/10.1061/9780784413517.055
2014
Carmichael DG; Lea LO; Balatbat MCA, 2014, 'Emissions Management of Urban Earthmoving Fleets', in Tamosaitiene J; Panuwatwanich K; Mishima N (eds.), Fifth International Conference on Engineering, Project, and Production Management, Nelson Mandela Metropolitan University, Nelson Mandela Metropolitan University, Port Elizabeth, South Africa, pp. 262 - 271, presented at Fifth International Conference on Engineering, Project, and Production Management, Nelson Mandela Metropolitan University, Port Elizabeth, South Africa, 26 November 2014 - 28 November 2014
2014
Carmichael DG; Malcolm CJ; Balatbat MCA, 2014, 'Carbon Abatement and its Cost in Construction Activities', in Castro-Lacouture D; Irizarry J; Ashuri B (eds.), Proceedings of the 2014 Construction Research Congress, American Society of Civil Engineers, Atlanta, Georgia USA, pp. 534 - 543, presented at ASCE Construction Research Congress, Atlanta, Georgia USA, 19 May 2014 - 21 May 2014, http://dx.doi.org/10.1061/9780784413517
2014
Balatbat MCA; Siew RYJ; Carmichael DG, 2013, 'A review of building/infrastructure sustainability reporting tools (SRTs).', in NA (ed.), A review of building/infrastructure sustainability reporting tools (SRTs)., American Accounting Association, presented at Built Environment, 21 February 2013 - 23 February 2013
2013
Wong LK; Balatbat M; Khoo LM, 2013, 'Value Relevance of Greenhouse Gas (GHG) Emissions Disclosures on Stock Market Performance: an International Study', in European Accounting Association (ed.), European Accounting Association 2013 Annual Congress, European Accounting Association 2013 Annual Congress, Paris, France, presented at European Accounting Association 2013 Annual Congress, Paris, France, 06 May 2013 - 08 May 2013, http://www.eaa2013.org/r/default.asp?sCode=LOGIN&item=CF&association_id=2
2013
Balatbat MC; Jackson A; Lu F, 2013, 'Did the evolution of accounting standards in China improve earnings quality?', in American Accounting Association (ed.), American Accounting Association, International Accounting Section, American Accounting Association, Savannah USA, presented at American Accounting Association, Savannah USA, 21 February 2013 - 23 February 2013, https://aaahq.org/international/midyearmeetings/2013/program.cfm
2013
Carmichael DG; Balatbat MCA, 2013, 'Valuing flexibility in infrastructure', in Yazdani S; Singh A (ed.), ISEC 2013 - 7th International Structural Engineering and Construction Conference: New Developments in Structural Engineering and Construction, Research Publishing Services, University of Hawaii, Manoa, Hawaii, pp. 1585 - 1590, presented at The Seventh International Structural Engineering and Construction, University of Hawaii, Manoa, Hawaii, 18 June 2013 - 23 June 2013, http://dx.doi.org/10.3850/978-981-07-5354-2-I-15-500
2013
Carmichael DG; Balatbat MCA, 2013, 'Valuing Flexibility In Infrastructure', in Proceedings of the New Developments in Structural Engineering and Construction, Research Publishing Services, presented at The Seventh International Structural Engineering and Construction Conference, - 23 June 2013, http://dx.doi.org/10.3850/978-981-07-5354-2_i-15-500
2013
Balatbat MC; Siew RYJ; Carmichael DG, 2012, 'ESG Score and its Influence on Firm Performance: Australian Evidence', in Programme & Proceedings 35th Annual Congress of the European Accounting Association, 35th Annual Congress of the European Accounting Association, Slovenia, presented at 35th Annual Congress of the European Accounting Association, Llujbana, Slovenia, 09 May 2012 - 11 May 2012, http://www.eaa2012.org/eaacf/ProgramAndCollectedAbstracts.pdf
2012
Balatbat MC; Jackson AB; Gallery G, 2011, 'The Strategic Timing of Management Earnings Forecasts', in Accounting and Finance Association Australia and New Zealand Papers and Proceedings, Accounting and Finance Association Australia and New Zealand, Australia, presented at Accounting and Finance Association Australia and New Zealand Conference, Darwin, Australia, 03 July 2011 - 05 July 2011, http://www.afaanz.org/openconf/2011/modules/request.php?module=oc_proceedings&action=view.php&a=Accept+as+Paper&id=237
2011
Tran H; Carmichael DG; Balatbat MCA, 2011, 'Tree Form Classification of Owner Payment Behaviour', in Fourth International Conference on Construction Engineering and Project Management, The University of New South Wales/ICCEPM, Sydney, pp. S15.3/1 - S15.3/8, presented at Fourth International Conference on Construction Engineering and Project Management, Sydney, 16 February 2011 - 18 February 2011
2011
Siew RYJ; Balatbat MCA; Carmichael DG, 2011, 'Impact of environmental, social and governance (ESG) disclosures on firm performance', in Dynamics of Investing Responsibly Research Forum program & proceedings, University of Sydney Business School, Australia, presented at Dynamics of Investing Responsibly Research Forum, USYD Business School, 25 November 2011 - 25 November 2011, http://www.academic.unpri.org/images/stories/pdfs/usyd-2011/papers/Maria_Balabat_Paper.pdf
2011
Balatbat MC; Lu F, 2009, 'An empirical study of IPO underpricing in China after the split share structure reform', in An empirical study of IPO underpricing in China after the split share structure reform, Asian-Pacific Conference on International Accounting Issues 2009, Las Vegas, USA, presented at Asian-Pacific Conference on International Accounting Issues 2009, Las Vegas, USA, 22 November 2009 - 25 November 2009
2009
Carmichael DG; Balatbat MCA, 2009, 'Sustainability on Construction Projects as a Business Opportunity', in SSEE 2009 International Conference, Solutions for a Sustainable Planet, Society for Sustainability and Environmental Engineering, Engineers Australia, Melbourne, presented at SSEE 2009 International Conference, Solutions for a Sustainable Planet, Society for Sustainability and Environmental Engineering, Engineers Australia, Melbourne, 23 November 2009 - 24 November 2009
2009
Carmichael DG; Balatbat MCA, 2009, 'The Incorporation of Uncertainty Associated with Climate Change into Investment Appraisal', in APES2009, Asia Pacific Expert Seminar – Managing Projects, Programs and Ventures in Times of Uncertainty and Disruptive Change, Asia Pacific International College, Sydney, presented at APES2009, Asia Pacific Expert Seminar: Managing Projects, Programs and Ventures in Times of Uncertainty and Disruptive Change, Sydney, 19 November 2009 - 20 November 2009
2009
Balatbat MCA; Carmichael DG, 2008, 'Cash Flow Correlation Approximations in Capital Budgeting', in Programme & Proceedings - 20th Asian Pacific Conference on International Accounting Issues, 20th Asian Pacific Conference on International Accounting Issues, Paris, France, presented at 20th Asian Pacific Conference on International Accounting Issues, Paris, France, 09 November 2008 - 12 November 2008
2008
Balatbat MC; Lu F; Czernkowski RM, 2008, 'The reform of split share structure in China and its effects on the capital market: An empirical study', in Program & Proceedings - Accounting & Finance Association of Australia Conference 2008, AFAANZ 2008 Accounting and Finance Association of Australia Conference, Sydney, presented at AFAANZ 2008 Accounting and Finance Association of Australia Conference, Sydney, 06 July 2008 - 08 July 2008
2008
Balatbat MCA; Carmichael DG, 2008, 'Gain and Risk in Sustainable-style Investments', in Program and Proceedings - 6th Symposium on Accountability, Governance and Performance: meeting Sustainability, Griffith University Centre for Organisational Governance and Performance Measurement, Griffith University, Qld, presented at 6th Symposium on Accountability, Governance and Performance: meeting Sustainability, Griffith University, Qld, 15 February 2008 - 15 February 2008
2008
Balatbat MCA; Carmichael DG, 2008, 'Sensitivity to one or more investments in DCF analysis with uncertainty.', in Program & Proceedings - Accounting & Finance Association of Australia Conference 2008, Accounting and Finance Association of Australia and New Zealand (AFAANZ), Sydney, presented at AFAANZ 2008 Accounting and Finance Association of Australia Conference, Sydney, 06 July 2008 - 08 July 2008
2008
Balatbat MCA; Carmichael DG, 2008, 'The extension of probabilistic DCF analysis to multiple project investments', in Programme & Proceedings American Accounting Association Conference 2008, American Accounting Association (AAA), Anaheim, California, presented at American Accounting Association Annual Meeting 2008, Anaheim, California, 03 August 2008 - 06 August 2008
2008
Balatbat MC, 2007, 'An alternative to earned value reporting on project performance', in An alternative to earned value reporting on project performance, International Symposium on Advancement of Construction Management and Real Estate 2007, presented at International Symposium on Advancement of Construction Management and Real Estate 2007
2007
Balatbat MC, 2007, 'Coming Clean ¿ The impact of disclosures by Biotechnology firms on the capital market', in Proceedings of the AFAANZ Annual Conference, AFAANZ 2007 Annual Conference, Gold Coast, Qld, presented at AFAANZ 2007 Annual Conference, Gold Coast, Qld, 01 July 2007 - 03 July 2007
2007
Balatbat MC; Feigin B, 2007, 'The Impact of Disclosures by Biotechnology Firms on the Capital Markets.', in 19th Asian-Pacific Conference on International Accounting Issues, 19th Asian-Pacific Conference on International Accounting Issues, Kuala Lumpur, Malayasia, presented at 19th Asian-Pacific Conference on International Accounting Issues, Kuala Lumpur, Malayasia, 11 November 2007 - 14 November 2007
2007
Journal articles
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Siew RYJ; Balatbat MCA; Carmichael DG, 2016, 'Measuring project sustainability maturity level - A fuzzy-based approach', International Journal of Sustainable Development, vol. 19, pp. 76 - 100, http://dx.doi.org/10.1504/IJSD.2016.073680
2016
Carmichael DG; Lea KA; Balatbat MCA, 2016, 'The financial additionality and viability of CDM projects allowing for uncertainty', Environment, Development and Sustainability, vol. 18, pp. 129 - 141, http://dx.doi.org/10.1007/s10668-015-9630-5
2016
Siew RYJ; Balatbat MCA; Carmichael DG, 2016, 'A proposed framework for assessing the sustainability of infrastructure', International Journal of Construction Management, vol. 16, pp. 281 - 298, http://dx.doi.org/10.1080/15623599.2016.1146115
2016
Siew RYJ; Balatbat MCA; Carmichael DG, 2016, 'The impact of ESG disclosures and institutional ownership on market information asymmetry', Asia-Pacific Journal of Accounting and Economics, vol. 23, pp. 432 - 448, http://dx.doi.org/10.1080/16081625.2016.1170100
2016
Jackson AB; Gallery G; Balatbat MCA, 2015, 'The impact of litigation risk on the strategic timing of management earnings forecasts', Accounting and Finance, vol. 55, pp. 467 - 495, http://dx.doi.org/10.1111/acfi.12065
2015
Carmichael DG; Ballouz JJ; Balatbat MCA, 2015, 'Improving the attractiveness of CDM projects through allowing and incorporating options', Energy Policy, vol. 86, pp. 784 - 791, http://dx.doi.org/10.1016/j.enpol.2015.08.024
2015
Siew RYJ; Balatbat MCA; Carmichael DG, 2013, 'The Relationship between Sustainability Practices and Financial Performance of Construction Companies', Smart and Sustainable Built Environment, vol. 2, pp. 6 - 27, http://dx.doi.org/10.1108/20466091311325827
2013
Siew RYJ; Balatbat MCA; Carmichael DG, 2013, 'A Review of Building/Infrastructure Sustainability Reporting Tools (SRTs)', Smart and Sustainable Built Environment, vol. 2, pp. 106 - 139, http://dx.doi.org/10.1108/SASBE-03-2013-0010
2013
Balatbat MC; Czernkowski R; Lu F, 2012, 'Does consideration matter to China’s split share structure reform?', Accounting and Finance, vol. 52, pp. 439 - 466, http://dx.doi.org/10.1111/j.1467-629X.2011.00400.x
2012
Balatbat MC; Findlay E; Carmichael DG, 2012, 'Performance Risk Associated with Renewable Energy CDM Projects', Journal of Management in Engineering, vol. 28, pp. 51 - 58, http://dx.doi.org/10.1061/(ASCE)ME.1943-5479.0000090
2012
Balatbat MCA; Lin C; Carmichael DG, 2011, 'Management Efficiency Performance of Construction Businesses – Australian Data', Engineering, Construction and Architectural Management, vol. 18, pp. 140 - 158, http://dx.doi.org/10.1108/09699981111111120
2011
Carmichael DG; Balatbat MCA, 2011, 'On the Analysis of Property Unit Sales over Time', International Journal of Strategic Property Management, vol. 15, pp. 329 - 339, http://dx.doi.org/10.3846/1648715X.2011.631765
2011
Johar K; Carmichael DG; Balatbat MCA, 2010, 'A Study of Correlation Aspects in Probabilistic NPV Analysis', The Engineering Economist, vol. 55, pp. 181 - 199, http://dx.doi.org/10.1080/0013791x.2010.481185
2010
Balatbat MCA; Lin C; Carmichael DG, 2010, 'Australian Construction Growth Ratios: Industry and Company Analyses', The International Journal of Construction Management, vol. 10, pp. 23 - 43, http://dx.doi.org/10.1080/15623599.2010.10773153
2010
Carmichael DG; Balatbat MCA, 2010, 'A Contractor's Analysis of the Likelihood of Payment of Claims', Journal of Financial management of property and construction, vol. 15, pp. 102 - 117, http://dx.doi.org/10.1108/13664381011063412
2010
Balatbat MCA; Lin C; Carmichael DG, 2010, 'Comparative Performance of Publicly Listed Construction Companies: Australian Evidence', Construction Management and Economics, vol. 28, pp. 919 - 932, http://dx.doi.org/10.1080/01446193.2010.501805
2010
Carmichael DG; Balatbat MCA, 2010, 'A Review and Study of Project Investment Cash Flow Correlations', International Journal of Project Planning and Finance, vol. 1, pp. 1 - 21, http://www.cidighana.org/pages/index.php?siteid=cidighana&page=current-issue
2010
Carmichael DG; Balatbat MC, 2008, 'Probabilistic DCF Analysis and Capital Budgeting and Investment - A Survey', The Engineering Economist, vol. 53, pp. 84 - 102, http://dx.doi.org/10.1080/00137910701864809
2008
Balatbat MC; Bertinshaw ST, 2008, 'Use of proceeds disclosures in IPO prospectuses: do issuers come clean?', JASSA - Journal of the Securities Institute of Australia, vol. 2, pp. 17 - 21, http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000213491500004&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=891bb5ab6ba270e68a
2008
Carmichael DG; Balatbat MCA, 2008, 'The Influence of extra projects on overall investment feasibility', Journal of Financial Management of Property and Construction, vol. 13, pp. 161 - 174, http://dx.doi.org/10.1108/13664380810913403
2008
Balatbat MCA, 2006, 'Discussion of Explaining the Short- and Long-Term IPO Anomalies in the US by R&D', Journal of Business Finance Accounting, pp. 060428035417005 - 060428035417005, http://dx.doi.org/10.1111/j.1468-5957.2006.00021.x
2006
Balatbat MC, 2006, 'Discussion of explaining the short- and long-term IPO anomalies in the US by R&D', Journal of Business Finance and Accounting, vol. 33, pp. 580 - 586, http://dx.doi.org/10.1111/j.1468-5957.2006.00610.x
2006
Balatbat MC; Taylor SL; Walter TS, 2004, 'Corporate Governance, Insider Ownership and Operating Performance of Australian Initial Public Offerings', Accounting and Finance, vol. 44, pp. 299 - 328, http://dx.doi.org/10.1111/j.1467-629X.2004.00114.x
2004
Conference Presentations
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Balatbat MCA; Lee K; Carmichael DG, 2016, 'Reconciling Accounting and Engineering Reporting for Infrastructure Projects', presented at International Conference on Business and Management 2016, ICBM-2016, Virata School of Business, The University of the Philippines, Diliman, Quezon City, 13 July 2016 - 15 July 2016
2016
Balatbat MC, 2013, 'Accounting for Carbon Allowances', presented at China-Australia Carbon Market Design Expert Workshop: Allocation Approaches and Lessons learnt so Far, Tsinghua University, China, 12 October 2013 - 12 October 2013
2013
Balatbat MC, 2013, 'Financial Reporting Implications of a Carbon Price in Australia and International Developments', presented at CEEM China-Australia Carbon Market Design Workshop, ASB Experimental Laboratory, UNSW, Sydney, 26 March 2013 - 26 March 2013
2013
  • UNSW Business School UN PRME Excellence in Teaching Award, 2015
  • UNSW Business School Teaching Award: Excellence in Academic Engagement
  • RJ Chambers PhD Scholarship in Accounting, 1995-1998
  • Best Paper and Presentation, PhD Conference in Business and Economics, Perth, W.A., 1997
  • Cooperative Research Centre for Low Carbon Living (CRCLCL) Grant 2018, International best practice on financing models for low carbon/energy efficient buildings: Rapid systematic overview of evidence ($10,000).
  • ARC Linkage Infrastructure, Equipment and Facilities (LIEF) Grant 2016-2017. Enhance modelling capacity for the industrial ecology virtual laboratory ($352,000).
  • Cooperative Research Centre for Low Carbon Living (CRCLCL), Developing a Built Environment Impact Framework and Decision-Making Tool to Measure and Value the Economic, Social and Environmental Impact of Projects in the Built Environment, 2015 ($200,000).
  • ARC Linkage Infrastructure, Equipment and Facilities (LIEF) Grant 2016-2017. Enhance modelling capacity for the industrial ecology virtual laboratory ($352,000).
  • Department of Industry, Innovation, Climate Change, Science, Research and Tertiary Education (DIICCSRTE), 2014-2016, Australia-China Climate Change Research Forum on Climate Change Mitigation Policy, ($60,016)
  • UNSW Contestable Funding Scheme, 2013, The Rise of Carbon Markets in China ($30,000)
  • ARC Linkage Grant 2012-2016 (with the Institute of Chartered Accountants in Australia and CPA Australia): Enhancing integrated reporting: implications for internal and external reporting and assurance ($329,604)
  • Accounting and Finance Association in Australia and New Zealand Research Grant Scheme 2011-2012, The journey to Integrated Reporting: What needs to be done by Australian and New Zealand firms and does it matter in creating and sustaining value? ($7,452)
  • CPA Australia Global Research Perspectives, 2010, Adopting a multi-disciplinary approach to investigate how economic, social and governance (ESG) information impacts on external and internal stakeholders ($32,967)
  • UNSW Contestable Funding for International Strategic Projects, 2010, Accounting, reporting and assurance for a sustainable future:  Risks and opportunities ($10,000)
  • Institute of Chartered Accountants in Australia Research Grant, 2010, Environmental, social and governance (ESG) disclosures in public equity offerings and its implications on investment decision-making ($8,000)
  • Australian School of Business Research Grant (ASBRG), 2009, Ensuring the effectiveness of the proposed CPRS Scheme:  Understanding the economic consequences of accounting policy choices for carbon emission permits ($20,650)
  • Australian School of Business Special Research Grant (ASBSRG), 2009, An assessment of transparency and accountability in the Philippines to identify improvements that will assist policymakers address the challenges of the global financial crisis ($6,480)
  • UNSW Contestable Funding Scheme, 2008, Role of carbon financing in developing nations in mitigating GHG emissions ($30,000)
  • CPA Australia Research Grant Scheme, 2005, Accuracy of uses of IPO proceeds and its effects on long-run performance ($9,000)

Accounting Quality, Integrated Reporting, ESG Disclosures, Carbon Accounting

ACADEMIC TEACHING 

Undergraduate (BCom) 

  • Corporate Financial Reporting & Analysis - Pass and Honours (Course coordinator and Course Developer) 
  • Issues in Financial Reporting & Analysis – Pass and Honours 

Graduate (MCom/Masters of Professional Accounting) 

  • Advanced Financial Reporting (Course Coordinator and Course Developer) 
  • Corporate Financial Reporting and Analysis 
  • International Financial Statement Analysis 
  • Reporting for Climate Change and Sustainability (Course Coordinator and Course Developer) 
  • Integrated Reporting, Integrated Thinking and Value Creation (Course Coordinator and Course Developer) 

Executive Program – AGSM Hong Kong 

  • Reporting for Climate Change and Sustainability (Course Coordinator and Course Developer) 

 

UNSW News

  • 10 Jun 2015

    ​The School of Taxation and Business Law will be hosting three ATAX Research Fellows during Semester 2 of 2015.