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WHERE are we going? The aim is to double our standard of living in the next 25 years and, as Sir Alexander Fleck, K.B.E., Chairman of Imperial Chemical Industries Ltd., so aptly staled recently, ‘The man who knows where he is going is the one who is most likely to arrive.’ One might venture to expand this statement by adding that he is still more likely to arrive if the cluttering debris of inefficient methods and movements are cleared away.

Existing empirical evidence on the impact of environmental, social and governance (ESG) integration on momentum portfolios is limited. The combination of the two is relevant given the risk-mitigating effect of ESG criteria, as well as the existence of momentum crashes. As such, ESG might lend itself to reduce crash risk for momentum investors.

In this paper, the authors provide insight into the impact of an ESG-constrained investment universe on momentum returns. The overall investment universe is split into high and low ESG-rated segments to anylse the characteristics of momentum portfolios conditional on the ESG rating.

The authors document the existence of a momentum premium across European stocks and for a subset of high and lows ESG-rated stocks. However, absolute returns of momentum strategies are significantly lower if momentum strategies are pursued on a subset of high ESG stocks. Additionally, findings document a risk-mitigation effect of ESG for momentum portfolios with significantly lower returns for momentum portfolios based on low ESG stocks during periods of momentum crashes.

Research on momentum investing and the momentum premium is large and well established, yet many questions remain. A recent study by Daniel and Moskowitz (2016) has analyzed crash risk for momentum investors and identified periods of strong momentum crashes. On the other hand, the literature on ESG integration in standing investment approaches is still limited, but as demand for sustainable products is increasing, so is the demand for a better understanding of the impact of ESG integration. Consequently, the authors provide evidence on the benefits of ESG integration for momentum investors to reduce their exposure to momentum crash risk.

As yet there are no indications that the President of the Local Government Board intends to give the force of law to the recommendations submitted to him by the Departmental Committee appointed by the Board to inquire into the use of preservatives and colouring matters in food. It is earnestly to be hoped that at least some of the recommendations of the Committee will become law. It is in the highest degree objectionable that when a Committee of the kind has been appointed, and has carried out a long and difficult investigation, the recommendations which it finally makes should be treated with indifference and should not be acted upon. If effect should not be given to the views arrived at after the careful consideration given to the whole subject by the Committee, a very heavy responsibility would rest upon the Authorities, and it cannot but be admitted that the Committee ought never to have been appointed if it was not originally intended that its recommendations should be made legally effective. Every sensible person who takes the trouble to study the evidence and the report must come to the conclusion that the enforcement of the recommendations is urgently required upon health considerations alone, and must see that a long‐suffering public is entitled to receive rather more protection than the existing legal enactments can afford. To refrain from legalising the principal recommendations in the face of such evidence and of such a report would almost amount to criminal negligence and folly. We are well aware that the subject is not one that is easily “understanded of the people,” and that the complicated ignorance of various noisy persons who imagine that they have a right to hold opinions upon it is one of the stumbling blocks in the way of reform; but we believe that this ignorance is confined, in the main, to irresponsible individuals, and that the Government Authorities concerned are not going to provide the public with a painful exhibition of incapacity and inaction in connection with the matter. There is some satisfaction in knowing that although the recommendations have not yet passed into law, they can be used with powerful effect in any prosecutions for the offence of food‐drugging which the more enlightened Local Authorities may be willing to institute, since it can no longer be alleged that the question of preservatives is still “under the consideration” of the Departmental Committee, and since it cannot be contended that the recommendations made leave any room for doubt as to the Committee's conclusions.

This chapter offers insights on how knowledge management (KM) tools and initiatives contribute to successful internal branding. Knowledge management has gained considerable recognition from both business practitioners and academics. However, understanding and implementation of KM practices in relation to internal branding is still a largely unexplored field. The authors, thus, present several models of knowledge sharing and outline their applicability to the field of internal branding. Through a case study of a Finnish multinational company Teleste, this chapter shows the applicability of the presented theories for brand knowledge sharing. The practical case looks at how knowledge sharing helped Teleste in the process of rebranding, particularly when promoting its new brand image within the organization.

The global financial crisis of 2007/2008 interrupted the process of financial integration observed in the European Union since the beginning of the 2000s. This paper empirically analyzes whether financial integration resumed, focusing on the period 2002–2015 and employing the indicators of the speed and the level of integration. The analysis covers four financial markets (the money, foreign exchange, bond, and equity markets) of the selected inflation-targeting Central European economies (the Czech Republic, Hungary, and Poland), representatives of new euro area countries (Slovenia and Slovakia) and the selected advanced Western European economies (Austria, Germany, Portugal) with the euro area. The results reveal that the global financial crisis caused mainly a temporary price divergence of the financial markets in the analyzed countries vis-à-vis the euro area. By 2015 the situation on the financial markets returned gradually to the pre-crisis degree of integration with the euro area for most of the countries and markets; however, there are signs of fragmentation on the government bond markets.

EVERYONE today is busily engaged in devising new methods, bringing about economies in motions, and applying incentives, but is enough attention being paid to the maintenance mechanics, from the human aspect, in these applications of work study?

The purpose of this paper is to estimate long-term currency exchange rate and also identify the key factors for decision makers in the currency exchange market. The study is expected to aid decision makers to take positions in the dynamic Forex market.

This study is based on quantitative and fundamental analysis of statistically oriented regression models. The trend of quarterly exchange rates is investigated using 110 variables including economic elements, interest rate and other currencies. This research is based on the same information that banks’ dealers use for the analysis. Ordinary least squares linear regression also known as “least squared errors regression” was used to estimate the value of the dependent variable.

The study concludes that “only Australian economic data” or “only the US economic data” cannot fully reflect the trend of AUD/USD. EUR influences AUD relatively larger than the other main market currencies. Six-month Australian interest rate itself affects AUD/USD trend much more than the six-month interest difference between AUD and USD.

The results indicate that the economic autoregressive moving average model can be used to predict future exchange rate using primary factors identified and not from the generic market or economic view. This helps adjust to the general, common (and possibly wrong) views when making a buy or sell decision.

This is one of the first studies in the context using the information of bank dealers for AUD/USD. This study is highly relevant in the current context, given the significant growth in Forex trade.

Looks at the 2000 Employment Research Unit Annual Conference held at the University of Cardiff in Wales on 6/7 September 2000. Spotlights the 76 or so presentations within and shows that these are in many, differing, areas across management research from: retail finance; precarious jobs and decisions; methodological lessons from feminism; call centre experience and disability discrimination. These and all points east and west are covered and laid out in a simple, abstract style, including, where applicable, references, endnotes and bibliography in an easy‐to‐follow manner. Summarizes each paper and also gives conclusions where needed, in a comfortable modern format.

The purpose of the research was to discover the process of social and environmental report assurance (SERA) and thereby evaluate the benefits, extent of stakeholder inclusivity and/or managerial capture of SERA processes and the dynamics of SERA as it matures.

This paper used semi‐structured interviews with 20 accountant and consultant assurors to derive data, which were then coded and analysed, resulting in the identification of four themes.

This paper provides interview evidence on the process of SERA, suggesting that, although there is still managerial capture of SERA, stakeholders are being increasingly included in the process as it matures. SERA is beginning to provide dual‐pronged benefits, adding value to management and stakeholders simultaneously. Through the lens of Freirian dialogic theory, it is found that SERA is starting to display some characteristics of a dialogical process, being stakeholder inclusive, demythologising and transformative, with assurors perceiving themselves as a “voice” for stakeholders. Consequently, SERA is becoming an important mechanism for driving forward more stakeholder‐inclusive SER, with the SERA process beginning to transform attitudes of management towards their stakeholders through more stakeholder‐led SER. However, there remain significant obstacles to dialogic SERA. The paper suggests these could be removed through educative and transformative processes driven by assurors.

Previous work on SERA has involved predominantly content‐based analysis on assurance statements. However, this paper investigates the details of the SERA process, for the first time using qualitative interview data.