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The purpose of this paper is to use firm-level data to examine whether the political cycle differentially relates to small vs large firms in New Zealand; a country that operates a unicameral political system has a short three-year political term and a right-of-centre stock market premium exists.

Using firm-level data from 1972 to 2010, the authors examine monthly returns during right-of-centre National governments and left-of-centre Labour governments. The authors apply Santa Clara and Valkanov (2003) regression analysis approach to examine the political cycle impact on firm returns.

Like in the USA, New Zealand’s political cycle premium is driven by small firms; however, the results are opposite. In New Zealand, periods governed by the right of the political spectrum produce significantly higher stock returns than those from the left and this finding is primarily driven by small firms who perform particularly poorly under left-of-centre governments.

Small firms were relatively heavily affected by the move to an open, deregulated economy; they were also less able to cope with tight monetary conditions, and periods of sharply falling inflation. New Zealand’s three-year political term may encourage newly formed governments to implement relatively fast moving shifts in policy where a more reasoned and steady approach would be warranted.

This is the first paper to use firm-level data outside of the USA to examine the political cycle impact.

The purpose of this paper is to examine the hypothesis that a period of sustained supernormal firm performance (for up to five years before fraud commission) creates financial pressure on actors/agents so they have a propensity to behave fraudulently to keep the good times (apparently) rolling.

Applying the Fama and French (1993) three-factor model using a range of calendar time portfolio methodologies, the authors measure abnormal drifts in stock performance in periods up to five years before alleged fraud commission dates. The authors examine a sample of 561 US firms subject to enforcement actions initiated by the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) over 1968-2009.

The authors find that sustained firm-specific positive stock price performance for up to five years followed by the almost inevitable adverse shock, which eventually brings the good times to an end, generally precedes corporate fraud. Fraud occurs when firm managers engage in misconduct in a misguided attempt to keep the good times (apparently) rolling despite the negative shock.

The sample is restricted to firms with trading histories on the stock market prior to the misconduct, and to firms contained in the Federal Securities Regulation database of US firms subject to enforcement actions initiated by the SEC and the DOJ over 1968-2009.

The desire to keep the good times rolling appears to be a very important driver of fraudulent behavior, even after controlling for the executive compensation incentive effects and business cycle effects emphasized in prior studies. The robust findings of positive abnormal returns for up to five years preceding initial fraud commission suggest that regulators and investors would be well-advised to scrutinize the behavior of firms that exhibit surprisingly persistent superior performance over an extended period. If the financial results appear too good to be true, a closer examination might just reveal that they indeed are.

While most investors generally like to see the “good times keep rolling” this pressure can create ethical dilemmas for managers.

Unlike most other papers in this area of the literature, which concentrate on the pre-fraud disclosure, the authors investigate the firm’s performance in the pre-fraud commission period. The authors find that the commission of the alleged fraud is preceded by a sustained period of surprisingly good performance of up to five years in length. The authors believe that the paper provides empirical evidence that supports the hypothesis that a period of sustained supernormal firm performance (for up to five years before fraud commission) creates financial pressure on actors/agents so they have a propensity to behave fraudulently to keep the good times (apparently) rolling.

The cultivation and maintenance of a brand is becoming increasingly important as politicians seek to connect with constituents. Through the lens of social cognition and group dynamics, this paper aims to understand the impact of evaluations of politician brands on voter intentions.

Three studies utilize the social cognition constructs of warmth and competence from the stereotype content model (SCM) and Brands as Intentional Agents Framework (BIAF) to evaluate the impact of brand perceptions on voting intentions, comparing fit between the models. The first study establishes the impact of these perceptions on existing politicians. The second study replicates these effects while controlling for party affiliation and extraneous factors and explicitly studies politicians as brands. The third study examines the formation of perceptions and assumptions when full information is unavailable.

Social cognition and group dynamics drive responses to politician brands. The data herein support perceptions of warmth and competence as significant predictors of voting intentions. Dependent upon whether the politician is being evaluated as a brand or a person, BIAF or SCM predicts the dimension that will be most impactful. These patterns persist in the absence of full information. As expected, voting intentions increased significantly when the voter was of the same (vs opposing) party as that of the candidate.

Conducted during an election year, evaluations of politicians are susceptible to the current political climate and the predominantly two party political system in which the studies were conducted. The design of Studies 2 and 3 addresses some of these limitations. Results point toward the interrelated nature of warmth and competence perceptions and the usefulness of applying both BIAF and SCM to understand how voters view politicians and the drivers of voting intentions.

This study evidences the depth to which perceptions of candidates impact voting intent, establishing politicians’ unique position as both brands and people. These findings prove useful in interpreting the outcome of elections this year, and beyond.

Expanding a limited body of existing research, this work contributes to our understanding of the application of SCM within the context of politician brands. As the first concurrent investigation of SCM and BIAF, these findings are of value to political strategists and academics alike. The contribution is augmented by the consideration of the impact of party affiliation and missing information.

The tremendous number of films available, on almost every conceivable subject, from film libraries, never ceases to amaze. Alas, there is not enough time to see many of them and not enough space to do more than mention a select few.

A religious revival is occurring in the United States today as the traditional wall preventing faith from entering the work place is crumbling. With workers increasingly practicing their religion at work, employers face a growing cavalcade of dilemmas, including those where employees discuss religious tenets, wear religious symbols, object to employer edits on the basis of faith, and proselytize. The faith/work challenge is made even more complex because of the greater number of religions practiced today (both traditional religions based on Judeo‐Christian principles and the so‐called “immigrant religions” that have blossomed during recent decades) coupled with the growing popularity of a host of “spirituality” movements. As the mixing of faith and work becomes common place, employers and employees naturally look to the law to establish concomitant rights and duties.

This chapter assesses the response by trade unions in New Zealand, Australia and Ireland to labour market deregulation since the 1980s. While these three countries have been on the front line of neoliberalism, and the traditional web of rules in each country has been weakened, change has occured unevenly, in part due to different union strategies. The chapter examines the ways in which unions employed institutional experimentations to defend the collectivist web of rules and strengthen labour standards. It argues that an augmented model of pluralism has emerged in all three countries in the form of stronger individual rights but that this is no substitute for collective bargaining mechanisms.

The interorganizational environment faced by business organizations presents unique challenges for management accounting and control. Past management accounting research has shown interest in such collaborations because despite their benefits, such relationships pose significant issues of coordination and control. As information and communication systems supplement management control systems in their support of decision facilitation and decision influencing, examining the design of management accounting systems (MASs) in the management of interorganizational relationships and assessing how it affects the attainment of interorganizational exchange partner performance objectives is important. In this chapter, I extend past accounting research to examine the complementary nature of decision-facilitation and decision-influencing objectives of MAS design as enabled by the use of integrated information systems in interorganizational settings. The economic theory of complementarity is employed to examine synergistic effects of complementary MAS objectives. A field survey is used to examine hypothesized relationships, and data were obtained from 116 organizations involved in strategic alliance activity. This chapter reports findings that support the view that the degree of complementarity in decision-facilitation and decision-influencing objectives assists in the development of capabilities that enhance performance in the interorganizational relationship. The study blends theory in the areas of strategy, information systems, and management accounting and extends management accounting research in the context of IT-enabled interorganizational relationships.