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This study aims to examine the role of Australian casinos in facilitating money laundering and Chinese capital flight.
Abstract
Purpose
This study aims to examine the role of Australian casinos in facilitating money laundering and Chinese capital flight.
Design/methodology/approach
The reports and transcripts of evidence from government inquiries into money laundering in Australian casinos are integrated with analyses of Asian transnational crime.
Findings
Money laundering in Australian casinos is linked to transnational crime and Chinese capital flight. A central finding is that junket operators play a key role in facilitating money laundering. The casinos are particularly exposed to criminal influences in the Chinese very important person gambling market, since they have used junket operators and underground banks, many of whom are closely linked to major Chinese criminal groups from Hong Kong and Macau.
Research limitations/implications
Very little information is available on money laundering in Australian casinos and this research has relied on the government inquiries that have been conducted over the past two years on the subject.
Practical implications
The author’s focus on money laundering in Australian casinos in the context of Asia-Pacific transnational crime is important for Federal and state government regulators grappling with the rapidly changing money laundering issues. The government inquiries recognised that the money laundering was related to transnational crime, but did not have the time and resources to explore the topic. The paper provides state government casino regulators and financial crime regulators with a broader international perspective to anticipate future money laundering and crime pressures facing Australia’s casinos.
Social implications
Money laundering in Australian casinos has had devastating social implications on the community. My research helps to focus attention on the problems of transnational crime and money laundering.
Originality/value
Little research has examined the linkages between casinos and transnational crime. This study has found that Australian casinos were used to launder the proceeds of illegal drug trafficking and to facilitate Chinese capital flight. While casinos have been forced by damming government inquiries to tighten anti-money laundering controls, it is likely that there will be pressure to relax these controls in the future because of competitive pressure from other casinos in the Asia-Pacific region.
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Rita Goyal, Nada Kakabadse and Andrew Kakabadse
Boards presently are considered the most critical component in improving corporate governance (CG). Board diversity is increasingly being recommended as a tool for enhancing firm…
Abstract
Purpose
Boards presently are considered the most critical component in improving corporate governance (CG). Board diversity is increasingly being recommended as a tool for enhancing firm performance. Academic research and regulatory action regarding board diversity are focussed mainly on gender and ethnic composition of boards. However, the perspective of board members on board diversity and its impact is mostly missing. Moreover, while strategic leadership perspective suggests that a broader set of upper echelon’s characteristics may shape their actions, empirical evidence investigating the impact of less-explored attributes of diversity is almost non-existent. While the research on the input–output relationship between board diversity and firm performance remains equivocal, an intervening relationship between board diversity and board effectiveness needs to be understood. The purpose of this paper is to address all three limitations and explore the subject from board members’ perspective.
Design/methodology/approach
The paper presents the findings of qualitative, exploratory research conducted by interviewing 42 board members of FTSE 350 companies. The data are analysed thematically.
Findings
The findings of the research suggest that board members of FTSE 350 companies consider the diversity of functional experience to be a critical requirement for boards’ role-effectiveness. Functionally diverse boards manage external dependencies more effectively and challenge assumptions of the executive more efficiently, thus improving CG. The findings significantly contribute to the literature on board diversity, as well as to strategic leadership theory and other applicable theories. The research is conducted with a relatively small but elite and difficult to approach set of 42 board members of FTSE 350 companies.
Practical implications
The paper makes a unique and significant contribution to praxis by presenting the perspective of practitioners of CG – board members. The findings may encourage board nomination committees to seek board diversity beyond the gender and ethnic characteristics of directors. The findings may also be relevant for policy formulation, as they indicate that functionally diverse boards have improved effectiveness in a range of board roles.
Social implications
Board diversity is about building a board that accurately reflects the make-up of the population and stakeholders of the society where the company operates. The aim of board diversity is to cultivate a broad range of attributes and perspectives that reflects real-world demographics as boards need to continue to earn their “licence to operate in society” as organisations have a responsibility to multiple constituents and stakeholders, including the community and the wider society within which they exist. Building social capital through diversity has value in the wider context of modern society and achieving social justice.
Originality/value
The paper makes an original and unique contribution to strategic leadership theory by strengthening the argument of the theory. The paper explores beyond widely researched attributes of gender and ethnicity on boards and explores the impact of a less-researched characteristic of directors – their functional experience. Moreover, the paper opens the “black box” of CG – boards, and presents the perspectives of board members. The findings indicate that board members in FTSE 350 boards define diversity more broadly than academics and regulatory agencies often do.
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In this chapter, I propose an integrative framework for theorizing and empiricizing about talent management, based on the notion of “talent philosophies.” I believe that current…
Abstract
In this chapter, I propose an integrative framework for theorizing and empiricizing about talent management, based on the notion of “talent philosophies.” I believe that current debates about whether talent management should be inclusive or exclusive create the risk that our field will become fragmented, thereby undermining its social-scientific legitimacy. Nonetheless, this debate is absolutely correct in identifying the tensions between inclusive and exclusive approaches to talent management as a phenomenon. This, however, creates issues for talent management as a construct for scientific inquiry, as we need clear definitions and measures to create a cumulative body of research as a community. I propose that the solution lies in an expansion of our vocabulary as talent management researchers and identify four constructs that can help us structure and categorize our collective work: giftedness, talent, potential, and strength. Each of these constructs map logically onto different talent philosophies and talent management practices. In establishing “unity in diversity,” I believe talent management could finally make the transition into a more mature field of academic inquiry – although clearly phenomenon driven – characterized in equal parts by construct clarity, rigor, and relevance.
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Sandra Sessoms-Penny, Kimberly M. Underwood and Joy Taylor
The purpose of this research was to explore managers' perceptions related to the emerging needs, roles, values, responsibilities and…
Abstract
Purpose
The purpose of this research was to explore managers' perceptions related to the emerging needs, roles, values, responsibilities and commitments of millennials in the multi-generational workplace, and to determine how managers may effectively recognize and use millennial contributions to enhance the organizational culture and infrastructure.
Design/methodology/approach
This qualitative, narrative inquiry study utilized semi-structured interviews to capture collective insights of managers who lead millennials within multi-generational teams. All researchers used an interview protocol with each participant to maintain integrity. Data analysis included the creation of a code manual which was developed utilizing the first five interviews. The code manual included definitions, descriptions and exemplar text and was then used to code all remaining interviews.
Findings
Data are presented through three key areas of exploration: The contributions of millennials in multi-generational workplaces, the evolution of managerial views of millennials and the tactics managers use for millennial management in multi-generational teams.
Originality/value
Scholarly literature has clearly presented perceived qualities millennials bring to the workplace, including poor communication, advanced technology skills, overconfidence, and a need for work–life balance. This study seeks to provide an understanding of the generation, through the lens of their managers.
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Fabrizia Sarto and Sara Saggese
The study empirically investigates whether the board of directors' expertise in the focal firm's industry has implications for innovation input. Additionally, it explores how this…
Abstract
Purpose
The study empirically investigates whether the board of directors' expertise in the focal firm's industry has implications for innovation input. Additionally, it explores how this relationship is shaped by the CEO's educational level and background in the technology area.
Design/methodology/approach
The article tests the hypothesized relationships through the Arellano–Bond generalized method of moment estimators, proxying innovation input by R&D to total sales. Moreover, it analyses a sample of privately-held Italian medium and large high-tech companies observed over four years by relying on a unique hand-collected dataset.
Findings
The research documents an inverted U-shaped relationship between board industry expertise and innovation input and shows that such curvilinear effect is moderated by the CEO's educational level and technology background. Specifically, while the curvilinear slope is less steep for highly educated CEO, it becomes steeper in the presence of technology trained CEO.
Practical implications
The paper recommends how to shape the board human capital as a meaningful driver of board effectiveness and innovation. Additionally, it calls the managerial attention towards the interaction and the interplay between board industry expertise and CEO education as able to influence the above-mentioned outcome.
Originality/value
While previous studies have focused on the linear and positive effect of board industry expertise on innovation, this research advances current knowledge in innovation management literature by testing the presence of a curvilinear relationship. Moreover, by exploring the moderating effect of CEO education, the paper provides a comprehensive picture on the interplay among board industry expertise, CEO educational training and innovation input.
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