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For those interested in studying the effects of stakeholder theory on organizational performance, the establishment of measures that represent both explicit and implicit claims on the firm’s outputs is vital. While net organizational capital (NOC) has been shown to represent the value of the firm after honouring implicit claims of stakeholder groups, practical application requires the use of surrogates such as net intangible assets (NIA). Attempts to extend research in this area by establishing additional surrogates, segment sales (SS) and research and development intensity (RD), which can be easily calculated and reflect operating characteristics of the organization being observed. Concludes that RD is a reasonable indicator of the firm’s NIA for both bond upgrade and downgrade situations, but that SS can be viewed as a surrogate for NIA during upgrade situations. Both, however, can provide great insights to the researcher and can be used to assist in classifying firms with respect to stakeholder group influence.

There is abundant research on surrogacy; however, migration scholars have not addressed surrogacy-driven migration. Policies related to surrogacy and surrogacy-led migration are under-researched. The paper argues that surrogacy-led migration or fertility/reproductive migration constitutes a significant part of mainstream migration. The purpose of this paper is to reflect on the policy dilemmas in various countries.

A total of 9 surrogate mothers (4 from India; 2 from Thailand, 2 from Indonesia and 1 from Nepal) and 8 commissioning parents (2 from Japan; 4 from Europe; 1 from the USA; 1 from Australia) and 2 doctors (1 from India and 1 from Thailand) selected on snowball basis were interviewed between 2014 and 2016 by using a checklist.

The deficiency and inconsistency of laws regarding surrogacy facilitated the growth of the surrogacy market. Therefore, a uniform policy would help to define and improve the surrogacy and surrogacy-led migration management.

This paper demonstrates the interplay of surrogacy and mainstream migration. This is a fresh addition to the study of migration.

Partitioned analysis is an increasingly popular approach for modeling complex systems with behaviors governed by multiple, interdependent physical phenomena. Yielding accurate representations of reality from partitioned models depends on the availability of all necessary constituent models representing relevant physical phenomena. However, there are many engineering problems where one or more of the constituents may be unavailable because of lack of knowledge regarding the underlying principles governing the behavior or the inability to experimentally observe the constituent behavior in an isolated manner through separate-effect experiments. This study aims to enable partitioned analysis in such situations with an incomplete representation of the full system by inferring the behavior of the missing constituent.

This paper presents a statistical method for inverse analysis infer missing constituent physics. The feasibility of the method is demonstrated using a physics-based visco-plastic self-consistent (VPSC) model that represents the mechanics of slip and twinning behavior in 5182 aluminum alloy. However, a constituent model to carry out thermal analysis representing the dependence of hardening parameters on temperature is unavailable. Using integral-effect experimental data, the proposed approach is used to infer an empirical constituent model, which is then coupled with VPSC to obtain an experimentally augmented partitioned model representing the thermo-mechanical properties of 5182 aluminum alloy.

Results demonstrate the capability of the method to enable model predictions dependent upon relevant operational conditions. The VPSC model is coupled with the empirical constituent, and the newly enabled thermal-dependent predictions are compared with experimental data.

The method developed in this paper enables the empirical inference of a functional representation of input parameter values in lieu of a missing constituent model. Through this approach, development of partitioned models in the presence of uncertainty regarding a constituent model is made possible.

Municipal financial decisions involve the interaction of political actors (including voters, elected officials, and bureaucrats) pursuing their own interests. Although voters should determine public choices through elected officials, bureaucrats have the incentives and may have the monopoly power to dominate the process. This study investigates the relationships among municipal spending, fiscal manipulation, and financial monitoring. Fiscal illusion (as measured by revenue complexity) is employed as an empirical surrogate for bureaucratic manipulation and it is hypothesized that financial audits are an effective monitoring technique for moderating possible bureaucratic manipulation. The results of the study suggest that expenditure levels are related to political power and that fiscal illusion is significant for explaining expenditure levels, especially for cities having qualified opinions. Weak support is provided for the hypothesis that the financial audit is a monitoring technique that may constrain bureaucratic overspending. These findings have important implications for both public administration and governmental accounting and suggest the need for further research on monitorig effectiveness.

This paper seeks to provide empirical evidence showing how bank users of audited financial statements perceive and interpret various dimensions associated with financial reporting in Hong Kong. Employing a survey instrument, we asked bank loan officers to rank the importance of thirty‐five reporting dimensions for lending decisions and to ascertain their expected level of information on each exploratory dimension, as well as their perceptions of the level of information actually provided by audited financial statements. Reliance on principal‐component analysis to extract a set of important dimensions shows that nine reporting dimensions are significantly associated with lending decisions. When bank loan officers' levels of expectations on important reporting dimensions were compared with the corresponding levels of perceived reporting performance, the statistical results reflect the existence of an expectations‐performance gap. Finally, when bank loan officers' perceived levels of reporting performance were hierarchically positioned, audited financial statements were found to provide the most information on a firm's liquidity and profitability, moderate information on reliability‐related dimensions, and the least information on relevance‐related dimensions pertaining to the future prospects of a firm. This empirical evidence signifies the need for future corrective actions in closing the expectations‐performance gap.

The purpose of this paper is to model the determinants of executive compensation of school district superintendents using structural equation models (SEM). These chief executives have unique characteristics and function in a complex environment, due in part to the political nature of the position. SEM has not been used widely to test archival data using economic theory. The complex environment of superintendent salaries is a test case for the viability of the SEM approach. The success of SEM depends on the development of a strong theoretical base. The theory developed assumes that compensation should be based, in part, on fiscal and academic performance, indicating that accounting-related information including performance measures should be important in this context. In this case, a complex theoretical structure was reduced to a relatively simple model: superintendent salary can be best explained with three direct effects (enrollment, teacher salary, and the local tax percentage) plus indirect effects by including two additional factors (white percentage and percent economically disadvantaged). Performance did not influence salary, suggesting that future superintendent compensation contracts should consider financial- and education-based performance measures.

Terminations of overfunded pension plans may strengthen a financially‐weak firm. When manager's interests are aligned with shareholder's, either through high levels of stock ownership, or through labor and takeover market discipline at low levels of ownership, termination strengthens the firm and the stock price should react positively. In contrast, managers at middle levels of ownership hold enough stock to be entrenched, but not enough to be aligned with shareholder interests. Terminations may then be for reasons other than strengthening a financially‐weak firm and may not generate a positive stock price reaction. We find that the financial incentives for terminations differ significantly between terminators and nonterminators at high and low levels of managerial ownership, but not at intermediate levels. Our stock return analysis indicates that terminations by high and low ownership firms are consistent with shareholder welfare. Concern has been expressed that terminations of defined benefit pension plans transfer wealth from plan participants to plan sponsors. Plan terminations can have a value‐maximizing motive when the reversions are used as a source of financing, thereby helping firms avoid bankruptcy and liquidation. The empirical evidence (e.g., Alderson and VanDerhei (1992), VanDerhei (1987), and Hsieh, Ferris, and Chen (1990)) showing favorable stock price reactions to terminations by financially‐weak firms are consistent with the value‐maximizing justification for plan terminations. Prior studies (e.g., Agrawal and Mandelker (1987), Kim and Sorensen (1986), Sicherman and Pettway (1987), Hill and Snell (1989), Benston (1985), Morck, Shleifer, and Vishny (1988), Carter and Stover (1991) and Hermalin and Weisbach (1991)) have also documented that management's ownership interest in the firm has an important effect on the incentive to maximize firm value. This paper examines the effect of managerial ownership on financial termination. Specifically, we address whether or not financial motivation to terminate plans exists at all levels of managerial ownership. Our results suggest that the terminating firms, when compared to the nonterminating firms, are financially weak at high and low levels of managerial ownership. In contrast, there is no significant difference in financial weakness between the terminators and the nonterminators at the middle ownership levels. Also, stockholders reactions to terminations are higher at high and low levels of managerial ownership.

The purpose of this paper is to conceptualise the relationship between novels and organizational change and to introduce this special issue of the Journal of Organizational Change Management.

The themes of the special issue are discussed and each paper is introduced.

The relationship between novels and organizational change is a complex, iterative one that should be understood in its historical, political, economic and cultural context. If so understood, novels can enhance our understanding of organizational processes.

Although literature and representation in general have been discussed in studies of organization and management before, the specific literary form of the novel has not been theorised in relation to the question of novelty and organizational change.

The purpose of this article is to elucidate the concept and measurement of productivity in the service sector. The concept of service productivity is divided into quantity and quality dimensions, and further into output and input elements. Moreover, the issue of measurement is analysed to show the problems related to the elaborated concept of productivity. The content and measurement of the dimensions of service productivity are illustrated through a case study focusing on the second largest insurance group in Finland. The various elements of quantity and quality dimensions were distinguished in the target firm, but especially the quality elements seem to require more serious attention in the future. The article ends with a plea for more interdisciplinary research between scholars on service productivity.

The objective of this study is to develop and test a specific conceptualization and modeling specification of web site service quality and the influence web site service quality has on e‐service provider loyalty and word‐of‐mouth.

Data from an online survey of consumers across two studies were obtained.

The results support the conceptualization and operationalization of web site service quality and its effects on word of mouth and loyalty.

Implications for the measurement of consumer perceptions of web site service quality are highlighted for researchers, and directions for future research are discussed.

E‐service providers should carefully consider customer experiences on their web sites, and their management efforts to ensure they design and deliver the appropriate levels of service quality derived through the specific components of web site service quality.

The findings are of value to e‐service practitioners managing web site service quality and offer empirical support to its formative conceptualization. The focus here on formative modeling will stimulate discussion among e‐service researchers and practitioners, which could result in richer e‐service quality measures leading to improved marketing decision making and web site quality management.