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Article
Publication date: 25 January 2013

Anthony Hodgson

The purpose of this paper is to propose that conceptions of time and future that are currently in use restrict the possibilities for framing decision making. By

Abstract

Purpose

The purpose of this paper is to propose that conceptions of time and future that are currently in use restrict the possibilities for framing decision making. By privileging the notion of present moment over that of linear time, a more comprehensive framing of what it means to consider what influences our judgements. The ontology of the present moment provides a theoretical context for knowing what we can of the future in a more comprehensive way.

Design/methodology/approach

A review of ways of knowing the future that extends beyond linear assumptions of time leads to consideration of anticipatory systems and of the relationship between purpose and causality. It leads further into conjecture that the present moment is more ontologically fundamental than what we customarily refer to as past, present and future.

Findings

On this foundation, examination of experience of now reveals a multidimensionality which can include retrocausality, the possibility of the future influencing the present and the importance of latent patterning in determining events.

Research limitations/implications

The notion of the present moment has much in common with second order cybernetics and indicates a possible way of bringing systems thinking, especially boundary critique, to futures thinking and strategic decision making.

Practical implications

Although basically a theoretical paper, the framework does suggest possibilities for redesigning futures practice through using the present moment as a meta‐framing critique technique to reveal more clearly underlying assumptions in both futures studies and systems thinking.

Originality/value

In the context of a world where serious inability to see what is coming is pervasive in management and governance, a fresh look at fundamental assumptions may reveal flawed decision thinking and indicate ways of improvement.

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Book part
Publication date: 22 August 2017

Roopinder Oberoi

In the era of financial capitalism, how to manage and hold global corporations accountable has become too multifarious a topic for a solitary focus of one theme, to…

Abstract

In the era of financial capitalism, how to manage and hold global corporations accountable has become too multifarious a topic for a solitary focus of one theme, to sufficiently outline the whole gamut and implications of their activities. Capitalism is characterized by several well-organized antinomies and contrasts, with reflections of critical dualities that bear a resemblance to the primeval paradoxes of Hellenic philosophy. The challenge of governance of capitalism to be effectual entails breaking out of the entrenched precincts of habitual academic silos. Various standpoints while reasonably informative falls short to explain fully the complex interlinkages between the concept of global governance and the state’s capacity to put into effect its will on corporate power.

Spotlighting on assessing the praxis of political economy at global and national level and the corporate reality, this chapter aims to provide a renewed thrust for the focused recalibration of global regulatory regime. In this chapter, the inquiries take the regulation as the main explanandum for elucidation of the shifting governance framework.

Details

Modern Organisational Governance
Type: Book
ISBN: 978-1-78714-695-2

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Book part
Publication date: 14 April 2016

Thomas M. Keck and Kevin J. McMahon

From one angle, abortion law appears to confirm the regime politics account of the Supreme Court; after all, the Reagan/Bush coalition succeeded in significantly…

Abstract

From one angle, abortion law appears to confirm the regime politics account of the Supreme Court; after all, the Reagan/Bush coalition succeeded in significantly curtailing the constitutional protection of abortion rights. From another angle, however, it is puzzling that the Reagan/Bush Court repeatedly refused to overturn Roe v. Wade. We argue that time and again electoral considerations led Republican elites to back away from a forceful assertion of their agenda for constitutional change. As a result, the justices generally acted within the range of possibilities acceptable to the governing regime but still typically had multiple doctrinal options from which to choose.

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Studies in Law, Politics, and Society
Type: Book
ISBN: 978-1-78635-076-3

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Book part
Publication date: 11 December 2006

Geoffrey M. Hodgson

In much of philosophy and social theory since classical antiquity, human belief and reason have been placed in the driving seat of individual action. In particular, social…

Abstract

In much of philosophy and social theory since classical antiquity, human belief and reason have been placed in the driving seat of individual action. In particular, social theory has often taken it for granted, or even by definition, that action is motivated by reasons based on beliefs. In contrast, a minority has criticized the adoption of this ‘folk psychology’ that explains human action wholly in such ‘mind first’ terms. Critics point out that such explanations are a mere gloss on a much more complex neurophysiological reality. These dualistic and ‘mind-first’ explanations of human behavior are unable to explain adequately such phenomena as sleep, memory, learning, mental illness, or the effects of chemicals or drugs on our perceptions or actions (Bunge, 1980; Churchland, 1984, 1989; Churchland, 1986; Rosenberg, 1995, 1998; Kilpinen, 2000).

Details

Cognition and Economics
Type: Book
ISBN: 978-1-84950-465-2

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Article
Publication date: 1 July 1992

Geoffrey M. Hodgson

Marx is widely regarded today as an “evolutionary”economist. However, what is clear from a close examination of thewritings of both Marx and Engels is that they did not…

Abstract

Marx is widely regarded today as an “evolutionary” economist. However, what is clear from a close examination of the writings of both Marx and Engels is that they did not actually take Darwin′s theory of natural selection on board. Consequently, if their theory of socio‐economic change is evolutionary, it is not so in a Darwinian sense. Considers the different sense in which the economics of Marx can be regarded as “evolutionary” and the distance between Darwinian and Marxian conceptions of natural or social change.

Details

International Journal of Social Economics, vol. 19 no. 7/8/9
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 14 September 2010

Ahsan Habib

The paper aims to examine the value relevance of alternative accounting performance measures in Australia. It also documents the relative and incremental value relevance…

Abstract

Purpose

The paper aims to examine the value relevance of alternative accounting performance measures in Australia. It also documents the relative and incremental value relevance of revenue vis‐à‐vis earnings and the longitudinal changes in such value relevance. Finally, the impact of certain firm characteristics including firm life cycle on the value relevance of revenue and earnings information is investigated.

Design/methodology/approach

The paper utilises data on Australian listed companies from 1992 to 2005 on the level of and changes in seven alternative accounting performance measures. Standard ordinary least square regression is conducted.

Findings

Results reveal that: the coefficient estimates on all the performance measures are much higher for large firms compared to their small firm counterpart; the explanatory power of incremental revenue in explaining stock returns has declined significantly over the sample period; and life cycle analysis shows that the combined coefficients for both revenue and earnings are significant in the growth and maturity stages of the firm life cycle.

Practical implications

When making equity valuation decisions investors consider firms' fundamentals as reflected in financial statements. However, which line item is more important for equity valuation is an important consideration. From a regulatory perspective, this stream of research is quite relevant because standard setters will have evidence from an investor viewpoint about whether certain line items, subtotals, and totals should be defined in standards and required to be displayed in financial statements.

Originality/value

The paper adds to the existing capital market research in Australia by documenting differential persistence of alternative performance measures.

Details

Accounting Research Journal, vol. 23 no. 2
Type: Research Article
ISSN: 1030-9616

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Article
Publication date: 1 April 2003

Jane Hodgson

Abstract

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Reference Reviews, vol. 17 no. 4
Type: Research Article
ISSN: 0950-4125

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Article
Publication date: 10 May 2019

Junli Yu, Shelagh M.R. Campbell, Jing Li and Zhou Zhang

The Chief Financial Officer (CFO), despite being a critical organization member responsible for ensuring quality of financial reporting, audit and compliance, is…

Abstract

Purpose

The Chief Financial Officer (CFO), despite being a critical organization member responsible for ensuring quality of financial reporting, audit and compliance, is under-researched. Grouped as a member of top management teams (TMS) in studies, factors influencing decision making in this group rely on static measures of characteristics without regard for dynamic and longitudinal influences of career trajectories and industry occupational group memberships. The relationship between the high-tech industry as a site of notable reported internal control (IC) weakness and influences on CFOs requires closer examination. The paper aims to discuss these issues.

Design/methodology/approach

The study draws together the upper echelons theory and occupational communities (OCs) to explore the impact of shared values and behavioral norms from different sources on executive decision making. Internal and external sources of OC are proposed and their influence on activities with respect to corporate IC is tested. The sample of 1,573 firm/year observations includes high-tech firms listed on major US exchanges was developed using data from five distinct databases. Executives’ biographic information was manually collected.

Findings

Results indicate that senior financial executives belong not only to their firm and its culture but also to OCs that extend beyond the firm. Membership in professional credential granting occupational groups has less impact on effective IC than experience in the high-tech industry. In combination, multiple OCs show evidence of compound and counteracting effects on IC. The OC that arises in the high-tech industry makes a measurable positive difference in the quality of IC in sample firms, in contrast with the OC among credentialed accounting and financial professionals.

Research limitations/implications

This quantitative study of OC reveals the differential impact of different sources of OC and contributes to the literature on TMS a new framework for examining decision making. OC is typically studied through qualitative methods and, thus, potential exists to further explore the specific nature and dynamics of the OCs identified in this study.

Practical implications

The study highlights the role of broad affiliations and networks among senior financial executives which may have bearing on their ability to effectively manage IC. The role of these networks may also partially explain instances of CFO failure and thus dismissal. Knowledge of the role of OC may help boards of directors in the selection and promotion of senior financial officers of the firm.

Originality/value

The paper offers a different perspective on professional accounting expertise in one specific industry where incidence of IC weakness is high relative to other industries. Study results expand recent research on TMS to include sociological impacts of cohort groups. Despite generally weaker IC in the high-tech sector, this study demonstrates the value of exploring group membership within the industry as an important predictor of behavior. The result is a new perspective to CFO decision making which illustrates the relevance of OCs among upper echelons. The implications of findings for CFO recruitment and promotion are borne out in recent instances of senior financial executive failure in the sector.

Details

Accounting, Auditing & Accountability Journal, vol. 32 no. 4
Type: Research Article
ISSN: 0951-3574

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Book part
Publication date: 5 January 2005

Geoffrey M. Hodgson

Friedrich Hayek, Ludwig von Mises, Ludwig Lachmann and George Shackle upheld that investigations of the causes of purposes, preferences, beliefs or behaviors by the social…

Abstract

Friedrich Hayek, Ludwig von Mises, Ludwig Lachmann and George Shackle upheld that investigations of the causes of purposes, preferences, beliefs or behaviors by the social scientist were unwarranted. Shackle proposed that human agency is an “uncaused cause.” Others admitted that human volitions and actions are caused, but ruled out explanations of these causes from social science. By considering Darwinian insights from modern evolutionary psychology, this essay criticizes the view that causal investigations of human volitions and actions are beyond social science. These insights also point to the role of habit and instinct in human behavior.

Details

Evolutionary Psychology and Economic Theory
Type: Book
ISBN: 978-0-76231-138-5

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Article
Publication date: 1 January 1974

Anthony P. Harvey

This column inaugurates a new facet of the coverage of reference materials contained in RSR: the inclusion of sections devoted to reviews of useful reference books…

Abstract

This column inaugurates a new facet of the coverage of reference materials contained in RSR: the inclusion of sections devoted to reviews of useful reference books published around the world. Inasmuch as RSR's emphasis is on American reference sources and American libraries, the titles selected for evaluation were chosen on the basis of their appeal and relevance to libraries both in the U.S. and in other countries.

Details

Reference Services Review, vol. 2 no. 1
Type: Research Article
ISSN: 0090-7324

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