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The setting of private finance companies that failed in New Zealand during 2006-2012 was characterized by weaker corporate governance and enforcement of securities law. This paper aims to explore audit failure in this setting and examine whether auditors erred in their audits of the failed finance companies and whether the audit failure rate of Big N auditors was different from that of non-Big N auditors.

This paper adopts the archival research method and uses three sets of evidence to assess audit failure – the frequency of going concern opinion (GCO) prior to failure, misstatements in the last audited financial statements, and the violation of the Code of Ethics.

The study finds that only 41 per cent of the sample companies received the GCO in their last audit prior to failure and provides evidence of material misstatements in the financial statements of a number of failed finance companies that received clean audit opinions prior to failure and breaches of the Code of Ethics by a number of auditors. These results strongly indicate audit failure for a number of failed finance companies. The audit failure rate, however, appears less for Big N auditors than for non-Big N auditors.

The study draws attention of the stock market regulator and the accounting profession to an area, the audit of private finance companies, that needs better quality audits.

This paper provides systematic evidence of audit failure in failed finance companies in New Zealand. It also furnishes preliminary evidence of Big N auditors compensating for weaker corporate governance.

Because of their large field of view, omnistereo vision systems have been widely used as primary vision sensors in autonomous mobile robot tasks. The purpose of this article is to achieve real-time and accurate tracking by the omnidirectional vision robot system.

The authors provide in this study the key techniques required to obtain an accurate omnistereo target tracking and location robot system, including stereo rectification and target tracking in complex environment. A simple rectification model is proposed, and a local image processing method is used to reduce the computation time in the localization process. A target tracking method is improved to make it suitable for omnidirectional vision system. Using the proposed methods and some existing methods, an omnistereo target tracking and location system is established.

The experiments are conducted with all the necessary stages involved in obtaining a high-performance omnistereo vision system. The proposed correction algorithm can process the image in real time. The experimental results of the improved tracking algorithm are better than the original algorithm. The statistical analysis of the experimental results demonstrates the effectiveness of the system.

A simple rectification model is proposed, and a local image processing method is used to reduce the computation time in the localization process. A target tracking method is improved to make it suitable for omnidirectional vision system. Using the proposed methods and some existing methods, an omnistereo target tracking and location system is established.

The purpose of this paper is to explore how organizational climate impacts the speed of strategic change (SSC) for firms in transitional economies and whether if the effects were contingent on internal control mechanisms.

A theoretical model including five constructs is developed. The questionnaire survey is deployed to scale main constructs, including organizational climate, such as open communication and hierarchical bureaucracy, internal controls such as strategic and financial control, and SSC. The moderation regression method in five steps is employed to test all hypotheses using the survey data from the 120 sampled Chinese firms.

The findings show that open communication has a positive effect on SCC, whereas hierarchical bureaucracy has a negative effect on SSC. Furthermore, strategic control positively moderates the relationship between open communication and SSC but negatively moderates the relationship between hierarchical bureaucracy and SSC; meanwhile, financial control negatively moderates the relationship between open communication and SSC but positively moderates the relationship between hierarchical bureaucracy and SSC.

This research integrates organizational climate and internal control mechanisms into the framework of strategic change to investigate how firms achieve fast strategic change through aligning organizational climate with proper organizational control mechanisms. The findings advance the authors’ understanding of the organizational climate, internal controls, and strategic change literature, and offer valuable managerial insights for managers in situations when strategic change is of central importance in the transitional economies.

The purpose of this paper is to examine the mediating effect of functional value and symbolic value between positive moods and word-of-mouth (WOM) referrals in the context of Taiwan’s banking industry. In addition, this study investigates the moderating effect of relational benefits on the relationship between perceived value and WOM.

The research model was tested using data collected from customers (n=362) of the top 10 domestic banks in Taiwan. Structure equation modeling was employed to test and validate the conceptual model.

Positive moods are found to be an important predictor of functional value, symbolic value and WOM in this banking service study. Four types of relational benefits are identified including social, special treatment, confidence and face. Note that two distinct segments of bank customers are identified in terms of relational benefits: those who appreciate face benefits (n₁=169), and those who appreciate general relational benefits (n₂=193). The findings reveal the existence of partial mediation between a banking customer’s mood and WOM through functional value and symbolic value in the overall sample (n=362). However, it was found that functional value partially mediates the influence of positive moods on WOM among respondents in the “general relational benefits” segment only. That is, relational benefits are found to moderate the relationship between functional value and WOM.

This study expands the existing body of knowledge on customers’ perceptions of value by differentiating types of value perceptions.

The concept of entrepreneurial orientation (EO) attracts considerable attention in the organizational literature. Focusing on issues related to measurement of EO and using a three-pronged framework to organize the growing diversity of EO measures, the authors conduct a systematic literature review on how EO is captured and assessed in the empirical literature. Specifically, the authors classify 551 empirical works according to the approach to measurement (i.e., managerial perceptions, content analysis, and resource allocations) which allows the authors to document and critically analyze prevalent measurement practices within the literature. Based on the synthesis, the authors identify key measurement-related tensions that may inhibit cumulative knowledge development in the area of EO, such as ad hoc modification of seminal scales and lack of theoretical clarity with respect to measurement. Additionally, the authors find that research into the antecedents of EO as well as causality and temporality of the phenomenon is underdeveloped, which the authors attribute to scarce use of mixed methods. The authors conclude chapter by discussing the challenges involved in measuring EO and offering possible recommendations for future inquiry.

The change rules of the shielding effectiveness (SE) of the sleeve has not been clarified, which leads to the lack of the basis for the design, manufacture and evaluation of the electromagnetic shielding (EMS) clothing.

According to a simplified analysis model, a series of sleeve samples with different fabrics and styles are designed and manufactured. The SE of the sleeve is tested with the proposed special test method in a semi-anechoic chamber to analyze the influence of different factors on the SE of the sleeve.

The SE is greatly reduced about 60–90% after the fabric is manufactured into the sleeve. The larger the sleeve length is, the higher the peak value of the SE is. When the sleeve length is low, the SE value is easy to appear negative. As the cuff circumference increases, the SE of the sleeve will change with the frequency band. The influence of the cuff style on the SE of the sleeve mainly depends on the cuff width and style. The larger the cuff width is, the lower the overall SE of the sleeve is. The more wrinkles there are at the cuff, the better the SE of the sleeve is.

Our results provide a reference for the design, production and evaluation of the sleeve and the whole EMS clothing.

The purpose of this study is to look at the factors that drive people to participate in the sharing economy (SE). Based on the Technology Acceptance Model (TAM) and the Theory of Planned Behavior (TPB), the study proposes a mathematical model. The study’s ultimate objective is to help businesses attract more involved customers and promote collaborative consumption as a sustainable alternative to typical consumption patterns. The study offers a conceptual framework established via a thorough literature review to examine Indian customers’ use behavior toward SE platforms. A one-sample two-tailed t-test is used to assess the framework’s efficacy. The research fills gap in the literature on the SE by investigating the factors that determine subjective norms (SN), attitudes (A), and perceived behavioral control (PBC). A framework is provided that takes behavioral intention (BI) contemplated as a mediating variable. The research improves TAM and TPB by including new factors such as technical characteristics. This research adds to the body of knowledge on the digital SE by underlining the relevance of usage behavior in comprehending Indian customers, where A, SN, and PBC are important aspects. The research presents a paradigm for better understanding customers’ attitudes and behaviors toward various SE platforms, which might help academics, practitioners, and policy makers situate their initiatives within the larger field of sharing. The study’s categorizations of Indian consumers’ A, SN, PBC, and BI toward the SE might potentially advise on future research and government policies.

This chapter examines the debt aversion of a group of college students who have the opportunity to take out a sizable, low-interest, non-credit dependent loan. If the loan is simply invested in low-risk assets, it would effectively yield a free lunch in net interest earnings.

The research uses survey data to examine demographic, socio-economic, personality traits, and other characteristics of those willing and unwilling to accept the loan offer, as well as their intentions of early repayment.

Individuals willing to accept the loan tend to have prior debt, longer planning horizons, come from middle-income families, and may have higher cognitive ability. Anticipated early repayment of the loan is more likely among those with prior investments, no prior debt, from STEM majors, with upper income parents, and those who expect to buy a home soon.

We find no consistent relationships between debt aversion and intellectual ability or gender, but this finding may be hampered by our small sample of female loan-rejecters. Our limited sample size also precludes examining interactions between the dimensions of personality types.

We suggest consideration of policies to encourage “smart” borrowing, focusing on the financially disadvantaged, particularly for education loans. This study examines a uniquely occurring natural experiment regarding the opportunity to accept a non-credit dependent loan. Our results describe the behavior of young adults, an infrequently studied yet important segment of the population, especially in the context of borrowing behavior.

Small and medium enterprises (SMEs) are expected to be more creative and innovative to survive in the business competition and to make their businesses environmentally friendly, to develop global supply chain strategies, and to make innovations in products and business processes to become indispensable. This study discusses the effect of green supply chain integration (GSCI) and environmental uncertainty on performance through the moderation of green innovation. Structural equation modeling and maximum likelihood estimation were used to analyze a sample of 130 SMEs in East Java, Indonesia. The result shows that GSCI and environmental uncertainty significantly affect performance, and green innovation significantly moderates the effect. This research found that SME’s performance is influenced by GSCI concept and green innovation application as well as SME’s understanding about recent and future environmental uncertainties; this fits the market demand.

Rural resilience plays an important role in maintaining rural stability and people's living standards in the face of risks and unexpected challenges. The purpose of this paper is to systematically review the concept and mechanism of rural resilience and discuss how rural resilience is measured and to propose ways to improve rural resilience.

Literature review of the theoretical interpretations and empirical studies of rural resilience are conducted in the paper.

Resilience acts in the process as rural communities respond to risks and disturbances so as to maintain system stability and minimize the loss. Rural resilience consists of the capacity of resistance, adaptation and transformation. Promoting multifunctional transformation, exercising bottom-up planning and enhancing social capital are proposed to improve rural resilience.

The study of the paper makes comprehensive review of rural resilience in the context of rural interaction with the changing external environment. The study contributes to the understanding of rural evolution and helps to initiate feasible ways to achieve rural revival.