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This study aims to examine the association between fair value accounting and the cost of corporate bonds, proxied by bond yield spread. In addition, this study explores the moderating role of auditor industry expertise at both the national and the city levels.

This study first examines the effect of the use of fair value on yield spread by estimating firm-level regression model, where fair value is the testing variable and yield spread is the dependent variable. To test the differential impact of the three levels of fair value inputs, this paper divides the fair value measures based on the three-level hierarchy, Level 1, Level 2 and Level 3, and replace them as the test variables in the regression model.

This study finds that the application of fair value accounting is generally associated with a higher bond yield spread, primarily driven by Level 3 estimates. The results also show that national-level auditor industry expertise is associated with lower bond yield spreads for Level 1 and Level 3 fair value inputs, whereas the impact of city-level auditor industry expertise on bondholders is mainly on Level 3 fair value inputs.

The paper innovates by exploring the impact of fair value accounting in a setting that extends beyond financial institutions, the traditional area of focus. Moreover, most prior research considers private debt, whereas this study examines public bonds, for which investors are more likely to rely on financial reporting for their information about a firm. Finally, the study differentiates between city- and national-level industry expertise in examining the role of auditors.

This research has several practical implications. First, firms seeking to raise debt capital should consider involving auditors, with either industry expertise or fair value expertise, due to the roles that auditors play in safeguarding the reliability of fair value measures, particularly for Level 3 measurements. Second, from standard-setting and regulatory perspectives, the study’s findings that fair value accounting is associated with higher bond yield spread cast further doubt on the net benefits of applying a full fair value accounting regime. Third, PCAOB may consider enhancing guidance to auditors on Level 2 fair value inputs, to further enhance audit quality. Finally, creditors can be more cautious in interpretating accounting information based on fair value while viewing the employment of auditor experts as a positive signal.

First, the paper extends research on the role of accounting information in public debt contracting. Second, this study adds to the auditing literature about the impact of industry expertise. Finally, and more generally, this study adds to the ongoing controversy on the application of fair value accounting.

This study aims to examine whether national industry expertise in Italy is more dominant than local expertise. Prior studies from Australia, USA and UK show that audit fees for industry experts are priced at a higher premium at the local level than the national level. These countries have voluntary audit firm rotation, while Italy has mandatory audit firm rotation (MAFR). The authors predict that Italy has a stronger national than local level of industry expertise, to better retain and transfer industry expertise.

The authors compare audit fee premiums of national industry experts to local levels, using quantitative (multivariate tests) and qualitative (interviews) methodology.

Using hand-collected audit fees, the authors find that the audit fee premium for industry expertise is greater at the national level than the local level. The authors find corroborating results with audit hours. To provide further support, the authors conduct analysis for a neighboring country that does not have audit firm rotation. Using hand-collected data from Germany, the authors find that audit fee premiums from national industry expertise are no different from local industry expertise.

The present study study has theoretical and practical implications, for European Union countries, which recently adopted MAFR and for countries considering adoption in the future.

Intangible resources are recognized to hold the potential leading to a competitive advantage. Understanding how such resources are developed is, therefore, equally important. Certainly, a leader's job includes the development of intangible resources. One increasingly important area in the development of managerial expertise is a strategic organizational competence. Managerial expertise is the attainment of having master managers throughout the organization. For managers, such master manager skills include not only knowing what to do, why to do it, and how to do it; but, also knowing when to do it. On-the-job experiences often translate into tacit knowledge in areas as they relate to specific productivity tasks, however, knowing what, why, how, and when with management skills are more problematic. This is even more problematic when the skill development program is left up to the individual manager. When should one seek additional training on a regular basis? When can one forgo routine training and only occasionally brush up one's skills through training? The costs of training continue to increase and make the need to determine cost-effective training programs more important than ever before. This paper addresses the combining of assessments into a joint understanding of managerial expertise levels. It presents the results of assessment for several supervisory nursing staff in two hospital departments and the use of these assessments in communicating needed personal improvement plans.

This study aims to explore the effects of expertise diversity on project efficiency and creativity in health-care project teams.

This study analyzes hierarchical linear models using multi-source data from 50 project teams in a large health-care organization in the USA. This data set includes self-reported survey responses from 274 team members and human resource information for all 515 members across the 50 teams. Expertise diversity is operationalized by professional diversity and positional diversity reflecting two dimensions, domain and level, of the concept of expertise.

This study reveals that professional diversity is negatively related to project efficiency and project creativity, whereas positional diversity is positively related to project efficiency.

Successfully managing a project team of experts within a limited time frame is a challenge for organizations. This study advances the understanding of the double-edged sword effect of expertise diversity on project teams, focusing on professional and positional diversity. It provides important insights for human resource development in terms of the composition of project teams regarding members’ expertise.

The purpose of this study is to test a contingency model in which the relationship between task conflict and team performance depends on the extent to which team members differ in their levels of expertise and functional backgrounds.

Data were obtained from 71 student teams that completed a semester-long entrepreneurial project.

The results support the moderating role of expertise disparity in the process through which task conflict contributes to team performance. Task conflict had a curvilinear effect (inverted-U) on team performance in teams with high expertise disparity. In contrast, in teams with low expertise disparity, the relationship between task conflict and team performance was found to be linear and positive. The moderating role of functional background diversity was not supported.

This paper shows that the relationship between task conflict and team performance can exist in both a linear and a curvilinear fashion, and that what determines the form of the relationship has to do with a team’s diversity characteristics. The focus of future conflict research should be whether and how teams can realize the possible beneficial effects of task conflict, not whether task conflict is simply good or bad.

Managers may deliberately consider the differences in expertness among members when creating teams or assigning members to a team. Further, they may want to avoid extensive task conflict when a team’s expertise levels are unevenly distributed to lessen expected performance loss.

This study’s examination of the roles of two moderators in catalyzing the processes through which potential effects of task conflict are realized enhances the understanding of equivocal results in conflict research. The empirical evidence that this study provides informs a long-standing debate in the conflict literature – whether task conflict is functional or dysfunctional for teams – in a new, insightful way.

This monograph reports on the strategic and operational roles of learning and development (L&D) professionals in Irish, UK European and US organisations including multinational corporations, small to medium enterprises, the public sector and not for profit organisations. This paper aims to investigate the contextual factors influencing L&D roles in organisations, the strategic and operational roles that L&D professionals play in organisations, the competencies and career trajectories of L&D professionals, the perceptions of multiple internal stakeholders of the effectiveness of L&D roles and the relationships between context, L&D roles, competencies/expertise and perceived organisational effectiveness.

The study findings are based on the use of multiple methods. The authors gathered data from executives, senior managers, line managers, employee and L&D professionals using multiple methods: a survey (n = 440), Delphi study (n = 125) and semi-structured interviews (n = 30).

The analysis revealed that L&D professionals increasingly respond to a multiplicity of external and internal contextual influences and internal stakeholders perceived the effectiveness of L&D professionals differently with significant gaps in perceptions of what L&D contributes to organisational effectiveness. L&D professionals perform both strategic and operational roles in organisations and they progress through four career levels. Each L&D role and career level requires a distinct and unique set of foundational competencies and L&D expertise. The authors found that different contextual predictors were important in explaining the perceived effectiveness of L&D roles and the importance attached to different foundational competencies and areas of L&D expertise.

This is one of the few studies to have investigated the L&D professional role in organisations from the perspective of multiple stakeholders using multiple research methods.

Knowledge acquired by employees from co-workers through social networks may serve to reduce technostress during the use of a new and complex information system. The role of gender-based employee preferences in forming and acquiring system-related knowledge through friendship, advice, and expertise networks, and the impact of network-embedded expertise on performance outcomes are explored.

The research hypotheses were empirically tested through survey data collected from employees of a large organization that had implemented an enterprise system.

The advice networks of female employees were an extension of their friendship networks, whereas that of male employees were configured to include co-workers with system-related expertise. Exposure to high quality knowledge flows resulted in lowered technostress levels among male employees compared to their female counterparts. However, there was only a marginal difference in performance outcomes. The “expertise-deficit” in the advice network of female employees was apparently compensated through their dependence on the helpdesk.

Research on system-related knowledge support through social networks has focused on the structural features of interaction ties with little or no emphasis on networking employees and their individual preferences. Moving away from this structural orientation, this study validates the contention that gender-driven motivations impact employee networking preferences, determine network-embedded expertise levels, and influence employee technostress. This study can help configure implementation environments that maximize network acquisition of high-quality knowledge, reduce technostress, and enhance performance outcomes.

Examines the behaviour of the industrial buyer, and studies the purchasing of reprographic equipment. Looks at straight replacement purchases, first time purchases, rebuys involving high cost equipment and rebuys due to dissatisfaction, in terms of a perceived risk model. Accepts that the industrial communications practitioner receives much less planning guidance than his consumer‐based counterpart. States current research is founded on the belief that a theory of communication appropriate to industrial buying must take on 6 main points – these are itemised and discussed. Discusses research design; research methodology; the determinants of perceived risk in industrial buying; risk handling behaviour in industrial buying; and a perceived risk model of buyer behaviour and its implications for competitive industrial marketing policy – all these are examined in great depth and each one given individual conclusions. Concludes that these examples by no means exhaust all the possible empirical bases from which industrial marketing policies may be devised, they serve to illustrate the way in which the model can be realistically applied to derive such competitive policies.

We examine personnel policies and careers in public agencies, particularly how wages and promotion standards can partially offset a fundamental contracting problem: the inability of public-sector workers to contract on performance, and the inability of political masters to contract on forbearance from meddling. Despite the dual contracting problem, properly constructed personnel policies can encourage intrinsically motivated public-sector employees to invest in expertise, seek promotion, remain in the public sector, and work hard. To do so requires internal personnel policies that sort “slackers” from “zealots.” Personnel policies that accomplish this task are quite different in agencies where acquired expertise has little value in the private sector, and agencies where acquired expertise commands a premium in the private sector. Even with well-designed personnel policies, an inescapable trade-off between political control and expertise acquisition remains.

The purpose of this paper is to provide a method for selection of the new product development (NPD) project team members, in such a way to maximize the expertise level of team members and at the same time, optimize knowledge sharing in the organization.

According to the motivation-opportunity-ability framework, knowledge sharing antecedents were determined. Then, the problem of selecting appropriate members of the project team was formulated as a bi-objective integer non-linear programming model. Due to the uncertainty conditions in the evaluation of candidates, the fuzzy sets approach was used for modeling. To solve the problem, first, the non-linear programming model was converted to a linear model. Subsequently, the fuzzy bi-objective linear programming problem was solved by using an approximate algorithm.

Results of applying the proposed method to an Iranian ship-building company showed its effectiveness in selecting appropriate members of the project team.

With the aid of the proposed approach, project managers will be able to form effective project teams that while increasing the success probability of the project, facilitate the maintenance of knowledge acquired during the project lifecycle.

This paper, for the first time, has tried to provide a method for selecting the NPD project team members, in a way that while selecting candidates with highest expertise, maximizes the sharing of knowledge among them.