Search results

In this survey we present (after an Introduction) a guide to the major doctrinal trends of Spanish accounting of the period, classified in various categories: different views of the scientific nature of accounting, dominant theories, purposes of accounting, special areas, views on classification and on the recording of transactions, views on valuation and depreciation, cost accounting, inflationary issues, auditing, accounting terminology, historical concerns, and the practical orientation of publications. A separate section offers further details about prominent Spanish scholars; it is followed by the conclusion. The latter indicates that during the period under investigation, Spanish accountants contributed little to novel accounting thought, but strongly relied on French and Italian doctrines, though neglecting German ideas. Despite of this, Spanish accountants were aware of many theoretical and instrumental novelties of the day, and applied them without substantial delay to their own environment.

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

The impact of education and research skills on the strategic digital transformation of education is straightforward. In this context, the Saudi National Institute of Health plays a pivotal role in the design and implementation of a resilient and robust strategy for the development of skills and competencies to young health professionals. In this chapter, the authors provide a brief overview of the Vision 2030 in Saudi Arabia and its basic priorities in the areas related to the Education and Research in the healthcare domain. The authors also elaborate on the key plans and initiatives undertaken by the education and research skills directory of the Saudi National Institute of Health (SNIH) towards transformative learning with impact on the implementation of the Vision 2030.

The chapter builds on the literature of Agency and Signalling Theories to analyse the corporate governance factors associated with the voluntary decision to prepare an Integrated Report according to the <IR> International Framework promoted by the IIRC.

The chapter is based on the results of a probit regression run with regard to a sample of 35 companies that joined the Pilot Programme in 2011 and 137 similar companies that did not.

The analysis of two samples of European companies reveals that adhesion to the IR Pilot Programme is positively related to the gender diversity and size of the board.

Further research is required in order to study the differences between listed and non-listed companies in terms of variables affecting the adoption of the <IR> Framework and to increase the time range of our study. In addition, it would be interesting to include other variables capturing different aspects other than corporate governance, since the decision to join the Programme, as the results of our analysis have shown, may also be influenced by other factors, such as strategy decisions and communication policies.

The chapter adds to the existing literature by showing the main governance characteristics that impact the decision to adhere to the IR Pilot Programme. It is also important to the existing literature regarding the role played by gender diversity in corporate governance mechanisms and CSR policies.

In the context of Brexit, this study aims to analyse whether the worsening of the UK’s image might have triggered: worse feelings towards the tourism workers and a decrease in the final intention to travel to the UK. This paper compares responses from high and low-context tourists to identify at which target the reactions are more intense.

Hypotheses were formulated in a general model based on the theory of reasoned action applied to Country Image in the tourism sector, comparing the model in high (150 responses) versus low-context (406 responses) scenarios. Structural equation modelling methodology was used.

The intention to travel to the UK worsens when two out of the three dimensions of country image worsen (aesthetical and functional) and also when feelings towards workers in this country worsen. Related to cross-cultural differences, the main effect on feelings towards workers comes from the normative dimension of the UK’s image, together with the aesthetic perception. Moreover, travellers’ intentions are influenced by functional and aesthetic perceptions of the country as well as feelings towards workers. High-context cultures showed a significantly stronger effect of the aesthetic dimension of the country on feelings towards workers.

This paper tries to advance the understanding of how feelings towards employees in the UK can determine future visits to this destination. In addition, some cultural differences may explain why low-context cultures are more affected by the worsening of the UK’s image after Brexit.

The purpose of this paper is the presentation and research of a novel robot vision system, which uses laser dynamic triangulation, to determine three-dimensional (3D) coordinates of an observed object. The previously used physical operation principle of discontinuous scanning method is substituted by continuous method. Thereby applications become possible that were previously limited by this discretization.

The previously used prototype No. 2, which uses stepping motors to realize a discontinuous laser scan, was substituted by the new developed prototype No. 3, which contains servomotors, to achieve a continuous laser scan. The new prototype possesses only half the width and turns out to be significantly smaller and therefore lighter than the old one. Furthermore, no transmissions are used, which reduce the systematic error of laser positioning and increase the system reliability.

By using a continuous laser scan method instead of discontinuous laser scan method, dead zones in the laser scanner field can be eliminated. Thereby, also by changing the physical operation principle, the implementation of applications is allowed, which previously was limited by the fixed step size or by the object distance under observation. By using servomotors instead of stepping motors, also a significant reduced positioning time can be accomplished maintaining the relative positioning error less than 1 per cent.

The originality is based on the substitution of the physical operation principle of discontinuous by continuous laser scan. The previously used stepping motors discretized the laser scanner field and thereby produced dead zones, where 3D coordinates cannot be detected. These stepping motors were substituted by servomotors to revoke these disadvantages and provide a continuous laser scan, where dead zones in the field of view get eliminated and the step response of the laser scanner accelerated.

The chapter addresses the issue of contemporary public space. In the urban setting, social groups form different publics that become mutually inter-visible in public spaces: relational arenas, in which it is possible to learn living with strangers, recognizing the right to the city for all people. In contemporary city, some theories argue that we would assist to the crisis of public space. Indeed, the forming of a public realm is more difficult, because social groups build separate and self-segregating routes, and urban public spaces are increasingly privatized, controlled, and reorganized to be more compatible with the global city, the city-users, and the hypermobile upper classes.

Shifting the attention to Sala Borsa (a public library in the centre of Bologna), the authors argue that the changes in the socio-spatial morphology of contemporary cities do not prevent the forming of a public arena, accessible also to the marginal groups, as the homeless. Because of its centrality, its free access, its innovative and multimedia environment, Sala Borsa is a crowded, lively, and symbolic public space. In this public library, social groups appropriate different spaces and times through the production of porous boundaries. Nevertheless, the identity of public-library-user taken once in Sala Borsa produces an inclusive regime of inter-visibility, where also homeless people are present.

This study examines how women and men in family firms respond differently when asked about perceptions of financial performance. The study poses three research questions around this topic: Are there differences among female and male responses, do those perceptions change if men and women are leaders of the family business and does the family's socioemotional wealth (SEW) influence such responses.

This study uses a quantitative research design to determine if financial performance perceptions of family firms differ based on the gender of the respondents and their leadership position, and second, if SEW's dimensions influence those perceptions, using data from the Successful Transgenerational Entrepreneurship Practices (STEP) survey in 2015.

The findings indicate that due to the lack of theory regarding gender as a social construct, empirical data collected for family business studies should take under consideration if respondents are women, men, leaders and the family influence in the family business when collecting data from surveys and asking for perceptions of financial performance. Results show that women in family businesses tend to have more positive perceptions of financial performance than men, but if women are leaders, those perceptions not only decrease but become negative. In addition, the family's socioemotional wealth (SEW) exacerbates those tendencies.

This study contributes to the literature by helping to understand the potential limitations of subjective measures of financial performance, as women increasingly become family business leaders. It also contributes to gender studies by demonstrating that there is a lack of gender theoretical perspectives specifically, gender roles, suggesting that differences in self-promotion and self-evaluation between men and women leaders of their family firms. Finally, this study adds to the study of SEW as a multidimensional construct by showing the different effects, or lack of them by each dimension and showing the strong effect of family continuity on the perception of financial performance.

We propose a risk factor for idiosyncratic entropy and explore the relationship between this factor and expected stock returns.

We estimate a cross-sectional model of expected entropy that uses several common risk factors to predict idiosyncratic entropy.

We find a negative relationship between expected idiosyncratic entropy and returns. Specifically, the Carhart alpha of a low expected entropy portfolio exceeds the alpha of a high expected entropy portfolio by −2.37% per month. We also find a negative and significant price of expected idiosyncratic entropy risk using the Fama-MacBeth cross-sectional regressions. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.

We propose a risk factor of idiosyncratic entropy and explore the relationship between this factor and expected stock returns. Interestingly, expected entropy helps us explain the idiosyncratic volatility puzzle that stocks with high idiosyncratic volatility earn low expected returns.