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Article

Daniel F.C. Crowley, Bruce J. Heiman, R. Charles Miller, Philip J. Morgan, Mark D. Perlow, David K.Y. Tang and Karishma Shah Page

The purpose of this paper is to summarize the Group of Thirty's recommendations and explain how they relate to other concurrent financial market regulatory initiatives in…

Abstract

Purpose

The purpose of this paper is to summarize the Group of Thirty's recommendations and explain how they relate to other concurrent financial market regulatory initiatives in the USA, UK, and Europe.

Design/methodology/approach

The paper summarizes the report's four core recommendations, describes how they relate to recent reports by the US Treasury Department, the US Chamber of Commerce, and Committee on Capital Markets Regulation, and discusses how they may signal the direction of forthcoming domestic and coordinated international regulation.

Findings

Momentum has been building for consolidation, increased oversight, and international coordination of the legal and regulatory framework that governs the financial industry. The report has an unabashedly pro‐regulatory agenda.

Originality/value

The paper provides helpful reference on the current direction of international financial institution regulation

Details

Journal of Investment Compliance, vol. 10 no. 2
Type: Research Article
ISSN: 1528-5812

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Article

Stephen E. Blythe

Dubai’s Electronic Transactions Law (“ETL”) is designed to stimulate E‐commerce in the emirate by improving the authenticity and integrity of electronic transactions. The…

Abstract

Dubai’s Electronic Transactions Law (“ETL”) is designed to stimulate E‐commerce in the emirate by improving the authenticity and integrity of electronic transactions. The ETL recognizes the legal validity of electronic documents and electronic signatures as acceptable substitutes for paper documents and ink signatures, respectively. Accordingly, electronic records may be used to comply with a statutory writing requirement, original document requirement and retention requirement, and an electronic signature attached to an electronic document may be used to comply with a statutory requirement for a paper‐and‐ink signature. If all parties are in agreement, a contract may be in electronic form and is just as legally enforceable as a written one. The ETL does not mandate Dubai’s governmental agencies to utilize electronic documents, but they may elect to do so. The ETL has created a compulsory system of licensing of Certification Authorities (“CA”). Their role is to ascertain the identity of a subscriber and to attest in an issued Certificate that the electronic signature used by that subscriber belongs to him. The ETL contains a list of computer crimes. The statute establishes a sound framework for E‐commerce, but it could be improved by adding consumer protections, more computer crimes, mandatory Egovernment, I.T. courts and long‐arm jurisdiction. The ETL’s exclusion of wills should be eliminated.

Details

Journal of Economic and Administrative Sciences, vol. 23 no. 1
Type: Research Article
ISSN: 1026-4116

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Book part

Marc Wouters, Susana Morales, Sven Grollmuss and Michael Scheer

The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product…

Abstract

Purpose

The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product development, and it provides a comparison to an earlier review of the management accounting (MA) literature (Wouters & Morales, 2014).

Methodology/approach

This structured literature search covers papers published in 23 journals in IOM in the period 1990–2014.

Findings

The search yielded a sample of 208 unique papers with 275 results (one paper could refer to multiple cost management methods). The top 3 methods are modular design, component commonality, and product platforms, with 115 results (42%) together. In the MA literature, these three methods accounted for 29%, but target costing was the most researched cost management method by far (26%). Simulation is the most frequently used research method in the IOM literature, whereas this was averagely used in the MA literature; qualitative studies were the most frequently used research method in the MA literature, whereas this was averagely used in the IOM literature. We found a lot of papers presenting practical approaches or decision models as a further development of a particular cost management method, which is a clear difference from the MA literature.

Research limitations/implications

This review focused on the same cost management methods, and future research could also consider other cost management methods which are likely to be more important in the IOM literature compared to the MA literature. Future research could also investigate innovative cost management practices in more detail through longitudinal case studies.

Originality/value

This review of research on methods for cost management published outside the MA literature provides an overview for MA researchers. It highlights key differences between both literatures in their research of the same cost management methods.

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Abstract

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The Emerald Review of Industrial and Organizational Psychology
Type: Book
ISBN: 978-1-78743-786-9

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Article

Jaroslav Mackerle

Gives a bibliographical review of the finite element methods (FEMs) applied for the linear and nonlinear, static and dynamic analyses of basic structural elements from the…

Abstract

Gives a bibliographical review of the finite element methods (FEMs) applied for the linear and nonlinear, static and dynamic analyses of basic structural elements from the theoretical as well as practical points of view. The range of applications of FEMs in this area is wide and cannot be presented in a single paper; therefore aims to give the reader an encyclopaedic view on the subject. The bibliography at the end of the paper contains 2,025 references to papers, conference proceedings and theses/dissertations dealing with the analysis of beams, columns, rods, bars, cables, discs, blades, shafts, membranes, plates and shells that were published in 1992‐1995.

Details

Engineering Computations, vol. 14 no. 4
Type: Research Article
ISSN: 0264-4401

Keywords

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Book part

Cubie L. L. Lau

China and the United States represent the two largest greenhouse gas emitters in the world. Studies on how US companies react to the natural environment are plentiful and…

Abstract

China and the United States represent the two largest greenhouse gas emitters in the world. Studies on how US companies react to the natural environment are plentiful and show that stakeholders are one of the key drivers for green decisions. However, we have limited understanding of the stakeholder pressure faced by firms in China. Drawing on stakeholder theory, this study builds from in-depth interviews with 32 businesses in China. We show that government, customers, employees, suppliers, investors, and community are stakeholders most mentioned. Interestingly, findings also seem to suggest that the perceived pressures of non-profit organizations (NGOs) differ by the form of ownership. Multinational firms often view NGOs as allies, while Chinese firms downplay them as powerless and unimportant. Although stakeholders are seen as both threat and opportunity, two-thirds of those surveyed in this study focused on opportunity as opposed to threat.

Details

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

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Book part

This chapter examines China’s corporate governance and accounting environment that shapes the adoption of internationally acceptable principles and standards…

Abstract

This chapter examines China’s corporate governance and accounting environment that shapes the adoption of internationally acceptable principles and standards. Specifically, it examines international influences, including supranational organizations; foreign investors and international accounting firms; domestic institutional influences, including the political system, economic system, legal system, and cultural system; and accounting infrastructure. China’s convergence is driven by desired efficiency of the corporate sector and legitimacy of participating in the global market. Influenced heavily by international forces in the context of globalization, corporate governance and accounting practices are increasingly becoming in line with internationally acceptable standards and codes. While convergence assists China in obtaining legitimacy, improving efficiency is likely to be adversely affected given that corporate governance and accounting in China operate in an environment that differs considerably from those of Anglo-American countries. An examination of the corporate governance and accounting environment in China suggests heavy government involvement within underdeveloped institutions. While the Chinese government has made impressive progress in developing the corporate governance and accounting environment for the market economy, China’s unique institutional setting is likely to affect how the imported concepts are interpreted and implemented.

Details

Adoption of Anglo-American Models of Corporate Governance and Financial Reporting in China
Type: Book
ISBN: 978-1-78350-898-3

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Book part

Lillian T. Eby, Melissa M. Robertson and David B. Facteau

Interest in employee mindfulness has increased dramatically in recent years, fueled by several important conceptual articles, numerous studies documenting the benefits of…

Abstract

Interest in employee mindfulness has increased dramatically in recent years, fueled by several important conceptual articles, numerous studies documenting the benefits of mindfulness for employee outcomes, and the adoption of mindfulness-based practices in many Fortune 500 organizations. Despite this growing interest, the vast majority of research on employee mindfulness has taken an intrapersonal focus, failing to appreciate the ways in which mindfulness may enhance work-related relational processes and outcomes. The authors explore possible associations between mindfulness and relationally oriented workplace phenomena, drawing from interdisciplinary scholarship examining mindfulness in romantic relationships, child–parent relationships, patient–healthcare provider relationships, and student–teacher relationships. A framework is proposed that links mindfulness to three distinct relationally oriented processes, which are expected to have downstream effects on work-related relational outcomes. The authors then take the proposed framework and discuss possible extensions to a variety of unique workplace relationships and discuss critical next steps in advancing the relational science of mindfulness.

Details

Research in Personnel and Human Resources Management
Type: Book
ISBN: 978-1-80043-076-1

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Article

Thomas Li‐Ping Tang, Roberto Luna‐Arocas, Toto Sutarso and David Shin‐Hsiung Tang

This research examines the love of money as a moderator and as a mediator of the self‐reported income‐pay satisfaction relationship among university professors…

Abstract

This research examines the love of money as a moderator and as a mediator of the self‐reported income‐pay satisfaction relationship among university professors (lecturers). Hierarchical multiple regression results showed that the interaction effect between self‐reported income and the love of money on pay satisfaction was significant. For high‐love‐of‐money professors (lecturers), the relationship between income and pay satisfaction was positive and significant, however, for low‐love‐of‐money professors (lecturers), the relationship was not significant. High‐love‐of‐money participants had lower pay satisfaction than low‐love‐of‐money participants when the self‐reported income was below $89,139.53. When income was higher than $89,139.53, the pattern of pay satisfaction was reversed. Further, the love of money was a mediator of the self‐reported income‐pay satisfaction relationship. Income increases the love of money that, in turn, is used as a “frame of reference” to evaluate pay satisfaction.

Details

Journal of Managerial Psychology, vol. 19 no. 2
Type: Research Article
ISSN: 0268-3946

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Article

Zulfiqar Ali and Muhammad Zubair Tauni

The purpose of this paper is to determine how CEO overconfidence influences firm’s future risk in a sample of Chinese listed firms. It further examines the moderating…

Abstract

Purpose

The purpose of this paper is to determine how CEO overconfidence influences firm’s future risk in a sample of Chinese listed firms. It further examines the moderating effect of institutional investors on the association between CEO overconfidence and future firm risk.

Design/methodology/approach

The initial sample consists of Chinese A-share issuing firms listed on Shanghai and Shenzhen Stock Exchanges during the period starting from 2000 to 2017. This study classifies a CEO as overconfident if the forecasted profits of the firm are greater than the actual profits for majority of the time during the tenure of the CEO. Ordinary least squares regression is used as the primary estimation method for generating the results, however, firm fixed effects and two-stage least squares regressions have also been used for verifying the robustness of the results.

Findings

The results demonstrate that CEO overconfidence leads to an escalation in firm’s risk level over the subsequent years. However, the intensity of this positive association is weaker in state-owned firms. Analysis of the moderating effect of institutional investors reveals that only active institutional investors, specifically mutual funds and foreign institutional investors, play their governance role in reducing the effect of CEO overconfidence on firm’s risk level. Furthermore, the moderating effect of active institutional investors is weaker in state-owned firms.

Research limitations/implications

The empirical evidence obtained by this study suggests that CEOs should exercise extreme diligence in decision-making. They must analyze a situation based on realistic facts and figures, rather than having misperception about their excessive abilities in controlling the outcomes of a situation. The findings also imply that regulators and policymakers should formulate strategies for motivating mutual funds and foreign investors to increase their shareholding in Chinese firms.

Originality/value

To the best of the authors’ knowledge, this is the first study that examines the impact of CEO overconfidence on future firm risk, not the current firm risk. Besides, literature regarding the role of external governance mechanisms in the context of behavioral biases is extremely scant. This study contributes to the literature by analyzing how the association between CEO overconfidence and firm’s future risk is influenced by the institutional investors’ ownership.

Details

Chinese Management Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-614X

Keywords

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