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Following the United Kingdom's (UK) withdrawal from the European Union (EU), there is uncertainty in the financial services industry on equivalence of regulatory regimes. This also affects the insurance industry. As of now, it is not clear if the UK’s supervisory regime (“Solvency UK”) will be classified as equivalent to the European Solvency II supervisory regime. After no equivalence decision was taken during the Brexit transition period and there are efforts by the UK in the form of the UK Solvency II Review and the Financial Services and Markets Bill to adapt Solvency II more to the characteristics of the national insurance market, the uncertainties are intensified. Although Solvency II non-equivalence would have a significant impact on insurance groups operating in both the UK and the EU, there has been no detailed analysis of whether these initiatives could have an impact on a future Solvency II equivalence decision. The purpose of this paper is to address and close this research gap with a literature review and a subsequent equivalence mapping and discussion.

Based on the literature review methodology, this paper draws on academic sources as well as publications from governments and regulators, articles from consultancies and subject matter experts and uses this literature to provide an overview of the current state of research on equivalence in the wider financial services industry, but specifically on Solvency II equivalence, the UK Solvency II Review and the Financial Services and Markets Bill. Based on this literature review, the paper also forms the basis for an innovative and forward-looking Solvency II equivalence mapping and discussion.

Several articles state that differences between Solvency II and Solvency UK could harm a future Solvency II equivalence decision. The UK Solvency II Review and the Financial Services and Markets Bill are two initiatives that support the objective of aligning the Solvency II supervisory regime more closely with the circumstances of the UK insurance market. Although both initiatives contribute to the fact that Solvency UK differs in parts from Solvency II, based on the literature review and the subsequent equivalence mapping and discussion, there are currently no reforms that should harm future Solvency II equivalence decisions.

This paper provides a previously non-existent overview of equivalence in the wider financial services industry, but specifically on Solvency II equivalence, the UK Solvency II Review and the Financial Services and Markets Bill, and brings them together in an innovative equivalence discussion. It thus presents the current state of knowledge on Solvency II after Brexit and develops it further around a mapping against the equivalence criteria. As non-equivalence could have significant implications for insurance groups operating in both the UK and the EU, this paper is a useful and practical study that provides a previously non-existent equivalence mapping and discussion based on current initiatives and publications. It thus closes the research gap identified and reduces uncertainties in the insurance industry and can be used as a blueprint for detailed and forward-looking equivalence mappings and discussions for the wider financial services industry.

This study investigates the extent to which structural equivalence between acquiring and target firms is associated with post-merger and acquisition (M&A) performance—a relationship that is proposed to be moderated by industry-level vertical relatedness between acquiring and target firms.

Applying social network analysis and regression, this study analyzes a buyer–supplier relationship network dataset of 279 M&A deals completed between 2010 and 2017 to test the hypotheses. Structural equivalence is measured as the proportion of common customers and suppliers between an acquiring firm and a target firm.

Supporting a view about the importance of supply chains in explaining M&As outcomes, the results suggest that the structural equivalence in the supplier network is positively associated with post-M&A firm performance. The results also show that the effect of the structural equivalence in the customer network is moderated by vertical relatedness between two merging firms (i.e. structural equivalence contributes to post-M&A performance when vertical industry relatedness is high).

This study contributes to the M&A and supply network literature by investigating the performance implications of structural equivalence in supplier and customer networks, demonstrating the importance of taking a supply chain view when explaining M&As outcomes. Specifically, the authors suggest considering structural equivalence as a new type of relatedness between merging firms (i.e. relatedness in network resources in explaining post-M&A performance). It also indicates how industry-level vertical resource relatedness, which is about relatedness in internal resources between the two firms, could interact with firm-level network resource relatedness, which is about relatedness in external supply chain resources between the two firms, in affecting post-M&A performance.

The purpose of this paper is to examine the concept of translation equivalence in extant research on translation in accounting: What is the equivalence that is expected of translation, and how is it assumed to come into being? This paper presents a coherent, theoretically informed approach to how different views on equivalence are connected to the objective of international comparability in financial accounting and how related, often-underlying assumptions intertwine in this discussion.

This paper takes an interdisciplinary approach by utilizing equivalence theories from the discipline of translation studies. It canvasses two dichotomy-like approaches – natural versus directional equivalence and formal versus dynamic equivalence – to compose a theoretical framework within which to analyze 25 translation-related papers discussing accounting harmonization published from 1989 to 2018.

This paper presents evidence of theoretical contradictions likely to affect the development of translation research in accounting if they go unrecognized. Moreover, the analysis suggests that these contradictions are likely to originate in the assumptions of mainstream accounting research, which neglect both the constructed nature of equivalence and the socially constructed nature of accounting concepts.

Despite the significance of translation for the objective of international comparability, this paper is the first comprehensive theoretical approach to equivalence in accounting research. It responds to a recognized demand for studying equivalence and its limitations, challenges many of the expectations accounting research places on translation and discusses the possible origins of related assumptions.

The study aims to investigate, through mapping analysis, the operation of knowledge organization systems (KOS) in different languages (English and Chinese), the types of term equivalence and the degree of similarity between different conceptual structures, and issues related thereto.

Terms are selected from the Art & Architecture Thesaurus developed by Getty Research Institute in the USA (source language) and the National Palace Museum in Taiwan participating in Taiwan e‐Learning and Digital Archives Program (target language). In respect of data analysis, mapping analysis and content analysis are both adopted.

Among the six types of term equivalence, “exact equivalence” appears most frequently. The degree of similarity between different conceptual structures can be divided into four types: similar structure, transferring part of the structure of source language into the system of target language by modeling; similar structure, but the structure of source language needs to be expanded or revised; dissimilar structure, the term in target language can be partially mapped to the term in source language; lack of structure, no matches between target language and source language.

The next step is to develop a more comprehensive conceptual structure that can incorporate multicultural perspectives. If the “partial equivalence” terms are further identified as important concepts, the problems of non‐exact equivalence terms and dissimilar conceptual structures can be solved by addressing the needs of English users in searching for Chinese art collections.

The study serves as a pilot study applicable to the development of multilingual KOS in the domain of Chinese fine arts, building the first demonstration model for the interoperability of KOS in Chinese and English.

This paper aims to investigate whether the feedback managers receive from their work colleagues is based on a shared understanding of their leadership behaviours. This similarity in perception is called conceptual equivalence. The study also took into account the managers’ and their work colleagues’ expectations.

A total of 441 managers participated in a 360-degree feedback programme that sought responses from their bosses (n = 380), peers (n = 1,621) and subordinates (n = 1,680). The instrument used was the Competing Values Framework 16-item survey, which describes the leadership behaviours that managers must display to be effective. It also measures the behaviours they consider important. Confirmatory factor analysis was conducted on the rating scores of the managers and the three hierarchical levels of their work colleagues to determine conceptual equivalence between self and work colleagues’ ratings. Conceptual models were formulated and compared by testing for factor form equivalence.

Conceptual equivalence was found across all rater groups for both leadership behaviours displayed and the importance of leadership behaviours.

This paper provides managers and human resource professionals with useful insights on how to improve the use of 360-degree feedback processes by ensuring that conceptual equivalence is established for feedback supplied by raters from different hierarchical levels. The findings also stress the importance of including expectations when receiving feedback on leadership behaviours.

This study contributes to the literature on the benefits of determining the conceptual equivalence of feedback received by managers from various work colleagues. A second contribution is the inclusion of expectations in the feedback process, as none of the previous work has included such a measure.

The purpose of this paper is to construct diverse granules and coverings derived from a semi‐equivalence class and then to reveal the relationships between granules and coverings and even relations, and to help one to study pansystems relations in a trans‐cross view.

Forms regarding semi‐equivalence classes as primitives, blocks or granules such as tolerance class, join class, meet class, optimist/pessimist selected compatible class, and tolerantly kernel class in an incomplete information system are defined and compared. Different approximations are also introduced. Furthermore, diverse coverings are also suggested.

A tolerance class of an object is proved to be the join of semi‐equivalence classes containing it, i.e. a result of acting union operation on some primitive classes. A compatibly kernel class of an object is a meet of semi‐equivalence classes including it, i.e. a result of acting intersection operation on some primitive classes. Related coverings can also be regarded as coverings derived from the covering consisting of primitive granules. Several necessary and/or sufficient conditions for a general covering to become a semi‐equivalence or complete covering are obtained. Meaningful property and relationship results are also exploited.

Constructing diverse granules naturally from an incomplete information system to form a different knowledge expression system looks promising for data mining in the information society. It widens the approach and schema.

The paper shows that the formation process of granules is natural, newly defined, and not similar and theoretic to those existing in a neighborhood system. The relationship between diverse granules and coverings is described by mathematical theorems in sufficient or necessary condition form.

The paper presents a framework for establishing equivalence of international marketing data. The framework is meant to reduce confusion about equivalence issues, and guide the design of international studies and data analysis.

A short overview is given of the two main approaches to equivalence in the literature. These are integrated and used to distinguish sources of cultural bias in the various stages of the research process.

The highest levels of equivalence most often established are construct equivalence and partial measurement equivalence, implying that distributions of scores obtained in various countries cannot be interpreted at face value. To understand cross‐cultural differences better, researchers should investigate why higher levels of equivalence could not be established; this can be done best by including elements from both the conceptual and the measurement approach to equivalence.

This study can help marketing managers to establish the extent to which consumer perceptions can be considered equal across countries. Moreover, it helps researchers to determine causes of unequivalence and relate these to concrete stages in the research process.

Integration of the two main approaches to equivalence will lead to a better understanding of the validity of cross‐cultural differences and similarities. This should lead to improved decision making in international marketing.

The purpose of this paper is to assess the cross-cultural equivalence of the four-dimensional 20-item Cultural Intelligence Scale (CQS) and the two-dimensional 12-item cultural intelligence (CQ) short scale. Furthermore, the study elaborates on the results by discussing the differences between culturally equivalent and culturally non-equivalent items.

Data gathered from 607 students with a Chinese or Dutch background and mature international experience serve to test the cross-cultural equivalence of the CQS.

This study addresses the lack of clarity concerning the cross-cultural equivalence of the CQS in the extended domain of empirical research involving CQ. Furthermore, the consequences of the cultural equivalence tests are discussed.

Comparing CQ scores across cultures is only meaningful with the use of the adjusted, two-dimensional scale. Practitioners must be aware of the emic-etic character of the measurement instrument they use.

This study addresses the lack of clarity concerning the cross-cultural equivalence of the CQS in the extended domain of empirical research involving CQ. Furthermore, the consequences of the cultural equivalence tests are discussed.

Conventional consumer equivalence scales measure the cost of children (and other household living arrangements) but not their benefits. Since many people choose to have children, these costs must be outweighed by other benefits. This paper considers these issues of demographic choice and explores the relevance of consumer equivalence scales to the broader welfare questions associated with tax/transfer policies and poverty and inequality measurement. The paper concludes that in contrast to conventional methods of measuring poverty and inequality, there is a case for the use of different equivalence scales for adults and children in the same household. Though the adults may have chosen their lower living standard in exchange for the “joys of parenthood”, the children have made no such choice.

Establishing the validity and measurement equivalence of core marketing concepts in the emerging market economies of Africa is a key step in assessing the transferability of modern marketing theory and managerial practice to these countries. However, measurement equivalence issues are rarely addressed in studies of marketing practices in Africa. Accordingly, this study examines the equivalence of core marketing concepts based on interviews of 459 marketing managers from Kenya, Nigeria, Japan and the USA. The results show that optimal scaling analysis of the managers’ evaluations provide more valid and meaningful assessment than that of the raw data. The managers’ evaluations of the concepts revealed amazingly similar or prototypical perceptions of marketing’s core concepts and its applicability in their organizations, despite the profound country environmental differences. It appears that the concepts fall into two cross‐national categories of applicability that permeate the industrialized and developing country categorization. Managerial and research implications are discussed.