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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The Foreign Corrupt Practices Act (FCPA) of 1977 and its amendment – the Trade and Competitive Act of 1988 – are unique not only in the history of the accounting and auditing profession, but also in international law. The Acts raised awareness of the need for efficient and adequate internal control systems to prevent illegal acts such as the bribery of foreign officials, political parties and governments to secure or maintain contracts overseas. Its uniqueness is also due to the fact that the USA is the first country to pioneer such a legislation that impacted foreign trade, international law and codes of ethics. The research traces the history of the FCPA before and after its enactment, the role played by the various branches of the United States Government – Congress, Department of Justice, Securities Exchange commission (SEC), Central Intelligence Agency (CIA) and the Internal Revenue Service (IRS); the contributions made by professional associations such as the American Institute of Certified Public Accountants (AICFA), the Institute of Internal Auditors (IIA), the American Bar Association (ABA); and, finally, the role played by various international organizations such as the United Nations (UN), the Organization for Economic Cooperation and Development (OECD), the World Trade Organization (WTO) and the International Federation of Accountants (IFAC). A cultural, ethical and legalistic background will give a better understanding of the FCPA as wll as the rationale for its controversy.

The emphasis on inter-organizational systems gave rise to concerns about inter-organizational relationships as trading partners became aware of the socio-political factors and trust that affect their relationships. This paper examines the importance of inter-organizational-trust in business-to-business E-commerce organizations. It examines how inter-organizational relationships impact trading partner trust, perceived benefits, perceived risks, and technology trust mechanisms in E-commerce that can in turn influence outcomes of business-to-business E-commerce. This paper develops a conceptual model and tests the model using a case study research methodology. The aim is to solicit qualitative in depth understanding of inter-organizational-trust in business-to-business E-commerce. Eight organizations from a cross section of industries that formed four bi-directional dyads participated in the third stage of this study. The first two stages include exploratory case studies in three organizations in the automotive industry that applied EDI via Value-Added-Networks in 1997, and a nationwide survey of organizations that examined the extent of E-commerce adoption in Australia and New Zealand in 1998. The findings identify the need for trustworthy business relationships in an E-commerce environment.

The present study aims to assess the potential effects of intellectual capital (IC) and disclosure of firms' affiliate transactions on contractual costs (CC).

The statistical population of the study includes 768 firm-year observations listed on the Tehran Stock Exchange during 2012–2017. According to Pulic's model, the authors divide IC into three components, such as human capital (HC), relational capital and structural capital (SC). CC is also measured by utilising two variables of board cash compensation and unexpected reward of managers.

The results show that there is a negative and significant relationship between HC and CC. In contrast, the authors find that relational capital and SC have a positive impact on CC. The authors’ further analyses also demonstrate that disclosure of transactions with affiliates has a negative effect on unexpected rewards of managers.

Since there is no conducted study, which discusses the relationship between IC and contractual cost, this paper might be considered the primary studies conducted in this line of literature, specifically in emerging markets. Moreover, to the best of the authors' knowledge, this is the first study investigating the potential impact of disclosure of selling and purchasing transactions, separately, on the director's unexpected reward.

Blockchain looks to be the next step of technology transformation and would redesign the business landscape. It is expected to have an impact on business methods in the next few years; which add new challenges and complexity to the accounting and assurance profession. This paper aims to analyze the perceptions of accountants and auditors toward the implementation of blockchain technology in the UAE after the government decided to transform 50% of government transactions into the blockchain platform by 2021.

A qualitative approach has been used in this study. A semi-structural interview has been conducted with 19 accountants, internal auditors, auditors and risk managers on the potential opportunities and challenges of blockchain technology on accounting and auditing practices in the UAE.

The findings show that the blockchain impacts on the accounting profession in terms of recording of transactions, storing evidence and providing a secured environment for conducting business transactions. For the auditors, the results indicate that the blockchain changes their audit process and strategy. The blockchain has great potential to supplement traditional auditing by providing a low-cost and decentralized audit process and automated audit evidence. The accounting of the companies will not be changed but it will be automated with the development of cryptocurrencies and blockchain activities. The blockchain will be developed in assurance services through the awareness and involvement of accounts and auditors.

The study contributes to the existing literature as follows. First, the research is one of the very few studies that discussed empirically the effect of blockchain on the accounting and assurance profession, which contributes to improved knowledge about the potential of blockchain technology to accounting and assurance services. Second, our research is the first to explore the accountants and financial auditors’ perceptions regarding the potential effect of blockchain technology on their profession in the UAE context after the government decided to transform 50% of government transactions into the blockchain platform by 2021. Third, the research identifies the pending challenges for blockchain and possible factors for its effectiveness.

This paper examines the role of professional associations, governmental agencies, and international accounting and auditing bodies in promulgating standards to deter and detect fraud, domestically and abroad. Specifically, it focuses on the role played by the US Securities and Exchange Commission (SEC), the American Institute of Certified Public Accountants (AICPA), the Institute of Internal Auditors (IIA), the Institute of Management Accountants (IMA), the Association of Certified Fraud Examiners (ACFE), the US Government Accounting Office (GAO), and other national and foreign professional associations, in promulgating auditing standards and procedures to prevent fraud in financial statements and other white‐collar crimes. It also examines several fraud cases and the impact of management and employee fraud on the various business sectors such as insurance, banking, health care, and manufacturing, as well as the role of management, the boards of directors, the audit committees, auditors, and fraud examiners and their liability in the fraud prevention and investigation.

Prior to conducting business via the Web, business partners agree on the business processes they are able to support. In ebXML, the choreography of these business processes is described as an instance of the so‐called business process specification schema (BPSS). For execution purposes the BPSS must be defined in the exact business context of the partnership. Reference models for B2B processes developed by standard organizations usually span over multiple business contexts to avoid a multitude of similar processes. In this paper we present how business collaboration models following the UN/CEFACT Modeling Methodology (UMM) are expressed in ebXML BPSS. To allow a mapping from multi‐context business collaboration models to a context‐specific choreography in ebXML BPSS we extend UMM to capture constraints for different business contexts

While studies about business-to-business (B2B) relationships have mainly addressed buyer–supplier long-term exchanges, focusing on social outcomes such as trust, commitment and cooperation, there is little research that explores the social outcomes which stem from short-term B2B transactions. The purpose of this paper is to explain buyers’ intention to renew a contract after discrete and time-delimited transactions by suggesting a model that complements social exchange theory with theories of fairness. In detail, this study aims to determine how evaluations of economic and social outcomes are complemented by both procedural fairness and distributive fairness.

The hypotheses are tested in the social couponing industry with a survey of a sample of 199 firms purchasing advertising services from daily deal websites. Data are analyzed using covariance-based structural equation modeling (CB-SEM).

The findings reveal direct effects of procedural fairness on social outcomes (satisfaction) and distributive fairness on the intention to renew a contract, negative moderating effect of procedural fairness on the relationship between economic outcomes (campaign effectiveness) and social outcomes (satisfaction).

In discrete, time-delimited transactions, high levels of procedural fairness may partially compensate for low levels of economic outcomes and prevent a reduction in social outcomes. Hence, when economic outcomes are influenced largely by external, uncontrollable conditions, the buyer seems to appreciate the supplier’s efforts to behave fairly.

Social outcomes matter even in discrete transactions and considerations of fairness should be integrated in the management of discrete transactions. Sharing economic outcomes fairly is not sufficient to secure the buyer’s intention to renew the contract.

This study proposes and tests a model that complements social exchange theory with theories of fairness and explains contract renewal in discrete, time-delimited transactions, encompassing both economic outcomes and social outcomes.

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.