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During an election campaign in Germany international investors were named “locusts” to discredit their behaviour and the effects of their actions. The purpose of this paper is to elaborate the links of this biblical metaphor and the contemporary financial industry, assuming that the common denominator can be seen in risk and the attitudes in dealing with risk. This link, so it is argued here, can be found in the changes of the understanding of risk as developing from punishment over representing evil to a postsocial opportunity to maximise profit in the globalised world of today.

The paper contrasts the origin of a publicly used metaphor about financial industry to describe risk with risk management based on recent research on the financial industry.

Developments of the international financial markets of the past three decades undermine the common understanding of risk and risk management at least from two directions. The methods used in risk management and investment represent a level of abstraction only specialists can deal with. And – more important for the everyday experience – certain forms of investment and risk management have developed in a way which is threatening to many people in companies producing goods or providing services. The development of financial industry into a postsocial reality of its own nevertheless has intense effects on other sectors of economy and society.

The author calls for an ethics of markets.

The aim of this paper is to investigate the purpose of the business school in light of the growing globalization of the business world.

The paper investigates the purpose of the business school, with views from the literature. It also presents views as to the purpose of the business school today.

The paper finds that the purpose of the business school is to create value in the forms of academic, personal and public or social value.

This paper has interesting information as to the purpose and role of business schools in the globalizing modern world.

ELSEWHERE in this number we list libraries which have Esent us copies of their annual reports which we are glad to have. Now and again we are able to elaborate on these, but in the present issue that has not been possible. We would say, however, that these reports are deserving of the attention of librarians generally, and of students at the library schools. They are records of work in progress, and they do suggest the development of library policy. The best of them are of textbook value.

The study focusses on explaining why advocates for reform to state audit in the United Kingdom (UK) in the early 1980s, focussed on improving the links between the new National Audit Office (NAO) and Parliament, rather than on traditional notions of audit independence. The study shows how this focus on the auditor's link to Parliament depends on a particular concept of liberty and relates this to the wider literature on the place of audit in democratic society.

Understanding the issue of independence of audit in protecting the liberties and rights of citizens needs addressed. In this article, the authors investigate the creation of audit independence in the UK in the National Audit Act (1983). To do so, the authors employ a neo-Roman concept of liberty to historical archives ranging from the late 1960s to 1983.

The study shows that advocates for audit reform in the UK from the 1960s to the 1980s were arguing for an extension to Parliament's power to hold the executive to account and that their focus was influential on the way that the new NAO was established. Using a neo-Roman concept of liberty, the authors show that they believed Parliamentary surveillance of the executive was necessary to secure liberty within the UK.

The neo-Roman republican concept of liberty extends previous studies in considering the importance of audit for public accountability, the preservation of liberty and democracy.

Public sector audit can be a fundamentally democratic activity. Auditors should be alert to the constitutional importance of their work and see parliamentary accountability as a key objective.

The neo-Roman concept of liberty extends previous studies in considering the importance of audit for public accountability, preservation of liberty and democracy.

The purpose of this paper is to provide a comprehensive review and critique of what we already know about pay systems in Chinese state‐owned enterprises, to identify the gaps in the literature and to stimulate more research in this area.

The paper first describes the policy issues at the macro‐level (government policies) in order to put micro‐level pay practices in a pertinent context. Then the paper provides a detailed review and critique on current empirical studies on pay practices in Chinese enterprises, their antecedents and consequences. Finally, the paper identifies potential research questions and provides some directions for future research.

The paper concludes from the extensive review of the current literature that the following research areas merit attention: Why do some firms pay their employees more than other firms? Why do we observe different types of internal pay structures among firms? What are the consequences of these different structures? Why is the link between pay and performance weak in some firms but strong in others? Under what conditions pay‐for‐performance enhances firm performance?

The paper is one of the most comprehensive reviews of the literature on compensation practices of Chinese companies.

The paper sets out to examine the use of accounting as part of the privatization process of a national railway in Canada. The argument is that proponents of the privatization used accounting strategically to justify and sustain the privatization. Major societal events, such as the privatization of national assets, merit close scrutiny so that an accounting world thus constructed should not be permitted to pass unchallenged.

The paper explores the way in which accounting language, concepts and information were deployed in the prospectus issued in support of the initial public offering of shares by the Canadian government.

Evidence is found suggesting that the vagaries of accounting language were marshalled to sustain a self‐fulfilling prophecy of success.

Case studies possess both the strength of specific instance detail and interpretation, and the ostensible weakness of interpretation of a sample of one. But such research may provide for reframing conceptual perspectives and contribute to stimulating additional efforts at interrogating accounting language's roles in major social change events.

The paper strongly endorses a critical analytical perspective by all those affected by major social change, such as privatization, in which accounting language often plays a persuasive but subtle role.

Individuals, groups, employees, managers, customers, and others, including the public‐at‐large, who are potentially impacted by privatizations, are reminded that accounting is not an innocent bystander in the political maneuverings associated with a privatization. Accounting does not axiomatically provide an objective measure of some underlying financial truth, but is part of an arsenal of rhetoric to achieve political ends.

This paper aims to focus on a group of films that were made during a little‐known period of Hollywood filmmaking known as the “pre‐Code” era. It seeks to provide an overview, historical background, and a general discussion about censorship and the cinema.

This research examines key actors, directors, and films that exemplify the characteristics of “pre‐Code”. The criteria for inclusion set by this study take into account not only their subject matter, but their availability on home video.

This comprehensive bibliography includes information on some of the actors who appeared in these films as well as summaries of select films. Commercial web sites that distribute and sell pre‐Code films are also presented. Key actors, directors, films, and companies that were involved in the production of pre‐Code films are identified and discussed. General reference works about film are highlighted as well as web sites, blogs, and other online resources that provide reviews and detailed discussions of pre‐Code Hollywood films.

The article offers guidelines for building a pre‐Code video collection and discusses why its subject matter is of interest to academia, especially in regard to women's and ethnic studies courses.

The study focuses on primarily big U.S. firms' joint venture activities with the Soviets after the break‐up of the former Soviet Union. It examines U.S.‐Soviet joint ventures in the following sectors: oil and gas, soft drinks, consumer products, gold mining, aircraft engines, telecommunications, and software. Data were collected by mail and interviews in order to identify the obstacles in the negotiation and operational stages of the venture. Furthermore, business and governmental organisations' recommendations as to whether or not U.S. firms should engage in joint venture activities in the Commonwealth of Independent States (CIS) were elicited.

The increase in environmental consciousness around the world since 1970's pushed firms to engage in socially responsible behaviors. The Corporate Social Responsibility (CSR) has naturally gained attention in the academic and business world (Colvin, 2001; Harrison & Freeman, 1999; Sen & Bhattacharya, 2001; Waddock & Smith, 2000). The reasons for these socially responsible behaviors are not only the external obligations or regulatory compliance but also the firms desire to increase competitiveness, to improve stock market performance (Bansal & Roth, 2000; Drumwright, 1994, 1996; Klassen & Mclaughlin, 1996; Russo & Fouts, 1997; Waddock & Smith, 2000) and to create a positive self‐image among consumers. There have been numerous studies on CSR suggesting a link between social initiatives and consumer's positive product and brand evaluations, brand choice and brand recommendations (Brown & Dacin, 1997; Drumwright, 1994; Handelman & Arnold, 1999; Osterhus, 1997; Sen & Bhattacharya, 2001). Moreover, the consumers are continuing to become more interested in CSR and green product market is fast growing so the use of CSR initiatives by the firms to receive the support of the society and to influence consumer behavior has become quite common. However, these socially responsible steps must also have an effect on corporations' major objective: maximizing the profits.

Beneath Canada's Northwest Territories lies a potential of 30 trillion cubic feet of natural gas. Will a $16 billion gas‐pipeline bring prosperity or gloom? Will this bring employment opportunities for local people or will more qualified people be brought in from southern communities? The purpose of this paper is to give an account of what Dene residents of the Sahtu Region have to say about oil and gas development.

Starting in 2005, in‐depth interviews with people across the Sahtu Region are conducted.

Respondents recognise the short‐term advantages of building a pipeline, but they are concerned about the long‐term impact on the environment that currently ensures their livelihood.

This study begs for a longitudinal follow‐up.

Policy‐makers may benefit from knowing the feelings of their constituents.

This timely study reveals long‐term environmental and social impacts of short‐term development. This is especially important in a region where people believe that they have an obligation to the land upon which they live.