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This chapter investigates the relationship between financial measures and dividend payout policy choices of firms. We examine why firms choose to pay dividends continuously, intermittently, or not pay them. Specifically, the findings provide evidence that firms with relatively larger debts tend to pay dividends less frequently than firms with smaller debts.

The results also suggest that good financial performers are more likely to pay dividends more regularly. Additionally, the results of this study indicate that highly leveraged firms tend to make less frequent payouts than lowly leveraged firms.

Overall, this research adds to our understanding of firms’ dividend payout policy choices. First, evidence on the relationship between the various types of financial measures and firms’ choice of dividend payout frequencies should be useful to investors. Second, the findings of this study provide financial statement users with useful information about the firm’s dividend payout patterns. Third, in general, it also adds to the accounting and finance literature on dividends.

This investigation/report/reflection was motivated largely by the occasion of the first Centre for Social and Environmental Accounting Research (CSEAR) “Summer School” in North America.¹ But its roots reach down as well to other recent reflection/investigation pieces, in particular, Mathews (1997), Gray (2002, 2006), and Deegan and Soltys (2007). The last of these authors note (p. 82) that CSEAR Summer Schools were initiated in Australasia, at least partly as a means to spur interest and activity in social and environmental accounting (SEA) research. So, too, was the first North American CSEAR Summer School.² We believe, therefore, that it is worthwhile to attempt in some way to identify where SEA currently stands as a field of interest within the broader academic accounting domain in Canada and the United States.³ As well, however, we believe this is a meaningful time for integrating our views on the future of our chosen academic sub-discipline with those of Gray (2002), Deegan and Soltys (2007), and others. Thus, as the title suggests, we seek to identify (1) who the SEA researchers in North America are; (2) the degree to which North American–based accounting research journals publish SEA-related research; and (3) where we, the SEA sub-discipline within North America, might be headed. We begin with the who.

This study aims to explore the intention–behavior gap of student entrepreneurs who develop entrepreneurial intention in a venture creation course and decide to continue working on the business idea after completing the course. While many students decide to work on business concepts, they often struggle with taking further steps when the course ends. This suggests that the development of entrepreneurial intention in the course does not directly lead to entrepreneurial actions after the course. Hence, this paper examines the sources for the intention–action gap and behavioral responses of student entrepreneurs.

This study applied a systematic inductive qualitative research method to examine how student entrepreneurs encounter challenges after the entrepreneurship program and how they respond to them. The authors selected a venture development course at a German public university as their research context.

The findings revealed that students encountered substantial challenges after the program, which invoked their procrastinating behaviors. Based on the findings, this study developed a process model of the intention–behavior gap in student entrepreneurship. The process model provides a roadmap to follow the main findings, which consist of three main parts: (1) the antecedents of the intention–behavior gap; (2) behavioral responses of student entrepreneurs and (3) the outcomes of procrastination.

This study contributes to the emerging student entrepreneurship literature by identifying obstacles for students who intend to continue developing a venture after attending venture creation courses, as well as elaborating on possible student responses to these barriers and their subsequent impact on their nascent ventures. Furthermore, the findings contribute to developing the understanding of the intention–behavior gap in entrepreneurship education at higher education institutions by highlighting challenges for students that emerge in the transition phase from course participants to autonomous entrepreneurial actors.

Scholars have generally emphasized the vital role of entrepreneurship education in developing the entrepreneurial intentions of students as prospective entrepreneurs. However, researchers have only rarely examined how these intentions are translated into actions. Furthermore, the existing research on students' intention–behavior gap is limited to quantitative studies that demonstrate the existence of the gap empirically or apply theoretically derived moderators to their analysis. Consequently, the literature calls for more qualitative, explorative research approaches to understand what happens to students' entrepreneurial intentions once their entrepreneurship program is over.

The aim of this study is to analyse the relationship between firms' sustainable practices and corporate financial performance during the COVID-19 pandemic. Specifically, this study aims to analyse the effect of sustainable practices on firms' stock returns during and after the first COVID-19 pandemic emergency.

A quantitative study was conducted to determine the impact of sustainable practices on firms' stock returns, using a sample of 1,418 European listed firms. In particular, we tested the effect of environmental (E) and social (S) scores, providing a multi-sectoral analysis in order to consider sector specificities.

The empirical outcomes indicate the existence of a negative (weak) or null relationship between sustainable practices and stock returns, failing to provide evidence that these practices are able to protect shareholders value during times of crisis.

The results obtained made it possible to highlight significant implications for investors and practitioners. They may have particular attention in evaluating firm's sustainable practices trying to understand more precisely the value that such practices can have for the company and its shareholders.

This article is part of the stream of studies that analysed the impact of sustainable practices on stock returns during a period of crisis in order to contribute to filling the gap due to the lack of consensus and the mixed results in the literature.

Purpose – To examine the implications of arms export controls on the international spread of weapons production and innovation.

Methodology/approach – The chapter analyses predicted responses to arms export controls, drawing on existing literature. It considers incentives to potential buyer countries to develop their own substitutes and a case study of Australia's response to US denial of access to electronic warfare self-protection (EWSP) technology for fighter aircraft.

Findings – Spurred by the US denial of access to relevant EWSP, Australia devoted many years to developing a homegrown substitute. Although Australia achieved some success, the United States ultimately granted Australia access to the technology. Australia then abandoned research, design and development (RD&D) on EWSP for fast jets in 2009. Cause and effect remain a matter of debate.

Research limitations/implications – Insight into the real-world value of the theory is limited by the use of a single case study. Such cases supported by publicly available information are, however, scarce. Countries seeking to circumvent export controls must expect to incur high costs and uncertain outcomes.

Practical implications – Policy-makers should be wary about committing large budgets in developing substitutes for new technologies denied them through export controls. Such efforts may, however, offer the possibility of putting suppliers under pressure unavailable from other actions.

Social implications – Arms export controls designed to limit proliferation of weapons create incentives for states to develop their capabilities for new arms production and to develop new weapons-related knowledge.

Originality/value of the chapter – This chapter provides a new case study which illustrates an innovative approach to arms export control analysis.

Bali tourism faces a great threat from the pandemic issue. COVID-19 causes a sharp decline of domestic and international tourist arrivals since many countries issued travel bans. All tourism sites in Bali are closed for tourists during the pandemic as ordered by the governing law. The research investigates the solution planned and applied by the cultural tourism destination managements during and post pandemic and understands how cultural tourism in Bali adapts the new norm tourismscape from the locals' and tourists' perspectives. The research uses qualitative method wherein the data were collected in two Hindu temples in Bali namely Goa Lawah and Tirta Empul, where tourists regularly gaze at authentic cultural tourist attractions through field observations, face-to-face interviews with tourism sites managers and tourists who purposely selected to ensure they understand the case. The data were triangulated by comparing and contrasting the informant's viewpoints to understand the case. The research finds that tourism site managements have applied the international health procedures prepared by management through intensive workshops and trainings to develop their competencies dealing with tourists during and post pandemic. This research claims that collaborative managements involving temple management, pecalang, police and soldiers have been dynamically adapted in mitigating the risks of COVID-19 outbreaks within the temple sites during the pandemic which distinct from the mainstream managements.

Mandatory auditor firm rotation (mandatory rotation) has been a controversial issue in the United States for many decades. Mandatory rotation has been considered at various times as a means of improving auditor independence. For example, in the United States, the Public Company Accounting Oversight Board (PCAOB) has considered mandatory rotation as a solution to the independence problem (PCAOB, 2011) and the European Parliament approved legislation that will require mandatory rotation in the near future (Council of European Union, 2014). The concept of implementing a mandatory rotation policy has been encouraged by some constituents of audited financial statements and rejected by other constituents of audited financial statements. Although there are apparent pros and cons of such a policy, the developmental process of such a policy in this country has not necessarily been an open-democratic, objective process. Universal mandatory rotation may or may not be the ideal solution; however, an open-democratic, objective process is needed to facilitate the development of a solution that considers the needs of all major stakeholders of audited financial statements – not simply accounting firms and public companies, but also investors. The purpose of this paper is to critically examine key issues relating to mandatory rotation and to encourage and stimulate future research and ongoing dialogue regarding this issue, in spite of efforts by certain constituents to silence the issue. This paper provides an overview of the various reasons, including practical, theoretical, political, and self-motivated reasons, why a mandatory rotation policy has not been implemented in the United States in order to address the potential conflict of interest between the auditor and client. This paper will also discuss how some deliberations of mandatory rotation have been flawed. The paper concludes with a summary of key issues along with two approaches for regulators, policy makers, and academics to consider as ways to improve the process and address auditor independence. The authors are not advocating for any specific solution; however, we are advocating for a more objective, unified approach and for the dialogue regarding auditor rotation to continue.

The purpose of this study was to provide an empirical investigation into the relationship between employee orientation and both financial performance and leverage.

The selected sample set consisted of German publicly listed and unlisted companies identified as a “Top Employer” by the Top Employers Institute for the period 2008-2010. The relationship between employee orientation and both financial performance and leverage was then examined for this sample set for the period 2007 and 2011, with the rating “Top Employer Germany” used as a proxy measure of employee orientation.

The findings show a strong correlation with trade-off, traditional human relations and managerial opportunism theory. It is shown that investments in employee-orientated activities, such as career opportunities, and secondary benefits and work–life balance, lead to reductions in financial performance, which in turn leads to higher levels of employee orientation. Furthermore, no statistically significant relationship between the level of employee orientation and company leverage was found which is in disagreement with stakeholder capital structure theories which propose that there is a negative relationship, where highly leveraged companies tend to invest less in employee-orientated activities which in turn lead to higher levels of leverage.

This is one of the first studies to provide an empirical investigation into the relationship between the level of employee orientation and both financial performance and corporate leverage. Most previous studies have focused on either financial performance or leverage. Furthermore, this is one of the first studies which has its geographical focus on Continental Europe. Most previous studies focused on the Anglo-American corporate environment.