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The purpose of this study is to examine how financial analysts deal with cybersecurity information in their investment analysis process and whether they find cybersecurity disclosures in companies’ financial reports useful.

Investment managers/financial analysts and chief information security officers (CISOs) at seven institutional investors were interviewed.

Not all financial analysts consider cybersecurity risk in their investment analyses. Those who do look at company strategy, how the company integrates cybersecurity into its processes and whether it has certified its cybersecurity information. The financial analysts use this qualitative information to adjust the results of their quantitative analysis. They do not find boilerplate or cursory cybersecurity information in financial reports to be useful. In fact, they view it as unreliable and prefer drawing on other information sources to assess the company’s cybersecurity risk.

The results of this study highlight to securities regulators that reported cybersecurity information is of limited usefulness. Regulators are challenged to revisit their disclosure requirements. Companies wishing to improve the usefulness of their cybersecurity information should provide more company-specific information.

To the best of the authors’ knowledge, this study is the first to look at financial analysts’ perception of cybersecurity-related information. It complements findings from prior market studies by adding new insights into the way influential market participants deal with this information in their investment analysis process.

This study aims to evaluate the quality of the energy efficiency disclosures made by Australian cities. As cities are significant energy users, and energy use is a crucial source of greenhouse gas emissions, energy efficiency initiatives can play an essential role in addressing climate change. Yet, little is understood about the energy efficiency disclosures being made.

The authors developed an original energy efficiency disclosure index to assess the reporting quality of the eight largest Australian cities. The websites of these cities were analysed for information on energy efficiency measures from December 2018 to June 2019. Annual reports, environmental reports, climate action plans and any other material related to energy plans were downloaded and then coded using the index.

While all cities provided energy efficiency information, little financial information was provided, limited forward-looking information was disclosed, key challenges were not disclosed, and each city provided energy efficiency disclosures differently. Collectively, these findings demonstrate that public accountability is limited.

An important implication is the need to standardise and improve cities’ energy efficiency reporting, especially concerning financial information. Cities, governments and the Carbon Disclosure Project (formerly the CDP) could achieve this, perhaps as part of the broader update of the CDP city-focused guidelines for greenhouse gas (GHG) reporting.

Although some studies on GHG reporting by cities have already been undertaken, including energy efficiency as part of their disclosure index, no study has focused on energy efficiency disclosures. The authors provide original insights concerning these practices. The study also provides an energy efficiency disclosure index that can be used in further research.

The purpose of this paper is to examine the multifaceted information disadvantages facing the so‐called information poor in today's society. It has two specific objectives: to identify, from the empirical evidence of individuals' daily and regular information practices, meaningful constructs for defining information inequality; and to investigate how the “information poor” characterise on these constructs in comparison with others.

The study developed its findings in relation to the above objectives inductively from the interview transcripts of 73 people of different social statuses and occupations regarding their daily and regular information practices.

Three concepts emerged as meaningful constructs to define information inequality, hence to describe the information poor: individuals' information resource bases, information practices, and information assets. The information poor are found to be disadvantaged in all these aspects. They are first disadvantaged by limited freedom and/or opportunities in claiming society's vast and rapidly increasing information resources into their own information resource bases; then by the constraint of their information practices in developing their information resource bases and obtaining information utilities from these resources; and further more by impoverished information assets to empower themselves in normal and problematic situations.

Understanding of the information poor as sketched above will likely demand further research into a number of issues/areas hitherto ignored by information inequality studies.

This paper is one of the first to address empirically one of the most fundamental questions in information inequality studies; it extends library and information science understanding of the information poor hitherto dominated by the information deficiency thesis.

The purpose of this paper is to explore stakeholders' expectations in relation to corporate social responsibility (CSR)–related corporate governance practices. The paper aims to understand how stakeholders' expectations potentially translate into the disclosure of information about CSR-related corporate governance practices.

The evidence for this study was collected using semi-structured in-depth personal interviews with 18 stakeholders. These include representative of multinational buying companies who source garments from Bangladesh, international as well as local NGOs, news media personnel, senior government officials, trade union leaders and social audit firm.

This paper finds evidence of stakeholders' dissatisfaction with the disclosures of governance information which tended to be viewed as limited and symbolic in nature. It also finds an apparent disconnection between stakeholder expectations and corporate disclosures.

This paper finds an alternative media of disclosures, for communicating social responsibility related governance information to the stakeholders, which has so far, been neglected by the social accounting researchers.

After Aslib kindly invited me to this conference I spent considerable time trying to take stock of what business information is available in Belgium and the Netherlands. Of course I did not uncover all possible sources myself (far from it) and I think therefore the title of my talk may be slightly misleading. Perhaps ‘The accessibility of business information in the low countries’ would give you a better idea of what I am going to talk about.

EU social policy is perhaps the most controversial aspect of European integration yet, despite all the political clashes on the matter, concepts like “social Europe” or “social dimension” remain ill‐defined and imprecise terms. Intends to outline and clarify in detail the debate about whether or not the European Union should have competence with regard to labour market affairs. A key message is that social policy has been controversial because it has become embroiled in the debate about the future political direction of the EU. In particular, three contrasting political models –symbiotic integration, integrative federalism and neo‐liberalism – have been put forward as organizing principles for the EU and each has a coherent view of what form social policy should take at the European level. It is the clash between these three models that has caused EU social policy to be so contestable and intractable.

In this article, we survey experiments that are directly related to monetary policy and central banking. We argue that experiments can also be used as a tool for central bankers for bench testing policy measures or rules. We distinguish experiments that analyze the reasons for non-neutrality of monetary policy, experiments in which subjects play the role of central bankers, experiments that analyze the role of central bank communication and its implications, experiments on the optimal implementation of monetary policy, and experiments relevant for monetary policy responses to financial crises. Finally, we mention open issues and raise new avenues for future research.

Sexual and reproductive health (SRH) incorporates prevention of unplanned pregnancies, unsafe abortions, and sexually transmitted infections (STIs). The sourcing, understanding and application of related information are important for health and this defines sexual and reproductive health literacy (SRHL). Health care utilization rates among Asylum Seekers and Refugees (ASRs) may not be high and they are unlikely to seek sufficient SRH information and care in their host countries, leaving some needs unmet. No SRHL research related to Scotland’s Asylum Seeking and Refugee Women (ASRW) exists. In this qualitative study, the purpose of this paper is to explore the SRHL-related views and experiences of adult ASRW living in Glasgow and their views on assistance required to improve their SRHL.

In total, 14 semi-structured interviews were audio-recorded and transcribed and qualitative thematic analysis employed.

Five themes and 13 sub-themes with four key findings highlighted: experience of unmet SRHL needs, similarities and differences in the source of SRH information, SRH views and behaviours influenced by cultural and religious factors, barriers and facilitators to accessing SRH information/care and developing SRHL.

This was a small scale qualitative study affording limited transferability. The work addressed a highly sensitive topic among women from conservative home country cultures.

Routine collection of sexual and reproductive health data by the NHS should be explored for this group. NHS staff should be aware of the rights of asylum seekers, Refugees and failed asylum seekers, to NHS healthcare free at the point of delivery in Scotland (National Health Service, 2019; Scottish Government, 2018), and be well trained in the likely religious and cultural norms of these groups. Host communities should consider improving access to SRH information and care in ASRWs first languages.

The study identified weaknesses in the opportunities for social integration afforded this group and the coordination of existing social opportunities. The stigmatization of immigrants in the UK is well understood and has repercussions for many individuals and societal organizations implicated in the promotion of this.

This paper addresses a very sensitive topic with women from conservative cultures. With few publications in this area, and none pertaining to Scotland, the paper makes a small but original contribution that might be considered a starting point for researchers and relevant services in Scotland.

This paper aims to outline research that explores the information literacy experiences of English as a foreign language (EFL) students. The question explored in this research was: how do EFL students experience information literacy?

This study used phenomenography, a relational approach to explore the information literacy experiences of EFL students. Phenomenography studies the qualitatively different ways a phenomenon is experienced in the world around us.

This research revealed that EFL students experienced information literacy in four qualitatively different ways. The four categories revealed through the data were: process, quality, language and knowledge. This research found that language impacted on EFL students’ experiences of information literacy and revealed that EFL students applied various techniques and strategies when they read, understood, organised and translated information.

This research was conducted in a specific cultural and educational context; therefore, the results might not reflect the experiences of EFL students in other cultural or educational contexts.

The findings from this research offer an important contribution to information literacy practice by providing important insights about EFL students’ experiences and perceptions of information and learning that can be used to inform curriculum development in second language learning contexts.

There is currently a lack of research using a relational approach to investigate EFL students’ experiences of information literacy. There is also limited research that explores the impact language has on information literary and learning in EFL or English as a second language (ESL) contexts.

The nature and extent of our knowledge of stock market efficiency are examined. The development of “efficiency”, as a way of thinking about stock markets, is traced from Roberts (1959) and Fama (1965) onward. The early work successfully introduced competitive economic theory to the study of stock markets and paved the way for a flood of empirical research on the relation between information and stock prices. This literature irreversibly altered our views on stock market behavior. The theory and evidence of seemingly‐rational use of information lay in sharp contrast to prior beliefs. It was associated with a widespread increase in respect for stock markets, financial markets, and markets in general, at the time. Researchers began developing and using a variety of formal models of security prices. Nevertheless, “efficiency” has its limitations, both theoretically (as a way of characterizing markets) and empirically (by stretching the quality of the data, the estimation techniques used, and our knowledge of price behavior in competitive markets). Extensive evidence of anomalies suggests either that the market systematically misprices securities or that the theoretical or empirical limitations are binding, or both. The less interesting research question now is whether markets are efficient, and the more interesting question is how we can learn more about price and transactions behavior in competitive stock markets. The concept of an “efficient stock market” has stimulated both insight and controversy since Fama (1965) introduced it to the financial economics literature. As a construct, “efficiency” models the stock market in terms of the reaction of prices to the flow of information. Like all theory choices, modelling the market in this fashion involved tradeoffs. The benefits included opening the literature to an abundance of high‐quality researchable data, covering a variety of information, and the resulting insights obtained on the role of information in setting prices. The opportunity costs included temporarily closing the literature to alternative ways of viewing stock markets, for example by modelling public information as a homogenous good and thus ignoring factors such as differences in beliefs among investors, differences in information processing costs, and the “animal spirits” that might drive group behavior. The costs also included reliance on particular asset‐pricing models of how an “efficient” market would set prices. Not surprisingly, the ensuing deluge of research has produced some startling evidence, for and against the proposition that financial markets are “efficient”. Strongly‐conflicting views and puzzling anomalies remain. The early evidence seemed unexpectedly consistent with the theory. The theory, and its implications, also seemed clear at the time. After a period that seems short in retrospect, the growing body of evidence in favor of the efficient market hypothesis emerged as one of the most influential empirical areas of economics. Fama's (1970) review described a flourishing, coherent and confident literature. This research had an irreversible effect on our knowledge of and attitude toward stock markets, and financial markets generally. It coincided with an emergence of interest in, and respect for, all markets among economists and politicians, and influenced the worldwide trend toward “liberalizing” financial and other markets. The research consistently appeared to show an unbiased reaction of stock prices to public information. The property of “unbiased reaction” to public information, which formed the basis of the early definitions of “efficiency”, was seen to be an implication of rational, maximizing investor behavior in competitive securities markets (Fama 1965, p.4). Reduced to a basic level, the reasoning was that any systematicallybiased reaction to public information is costlessly publicly observable, and thus provides pure profit opportunities to be competed away. Characterizing the market in terms of its reaction to information is only one of many feasible ways of modelling stock price behavior, but it introduced economic theoryto the empirical studyof stock prices, which had received little serious attention from economists prior to that point. Despite the subsequent spate of anomalies, the early efficiency literature not only adapted standard economic theoryto provide the first formal economic insights into how stock prices behave, but it helped pave the way for an outporing of theoretical and empirical work on stock markets and capital markets in general. Subsequent empirical research was not as consistent with the theory. Evidence of “anomalous” return behavior now is widespread and well‐known. It generallytakes the form of variables (for example, size, day‐of‐the‐week, P/E ratio, market/book value ratio, rank of scaled earnings change, dividend yield) that are significantly but inexplicablyrelated to subsequent abnormal stock returns. Much of this evidence has defied rational economic explanation to date and appears to have caused many researchers to strongly qualify their views on market efficiency. Disagreement has not been not confined to the evidence. The literature has produced a variety of research designs, ranging from the “market model” of Fama, Fisher, Jensen and Roll (FFJR, 1969) to Shiller's (1981a,b) variance‐bounds tests. The very term “efficiency” has engendered controversy: there is a modest literature on precisely what efficiency means, on the role of transaction costs, and on whether efficient markets are logically feasible. Making sense of this literature requires careful definition of “efficiency” in this context and careful analysis of the type of evidence that has been offered in relation to it. This involves an assessment of the strengths and weaknesses of both the theory of efficient markets, as a way of characterizing stock markets, and of the data and research designs used in testing it. Not surprisingly, a mixed conclusion emerges. While the concept of efficient markets was an audacious departure from the comparative ignorance and suspicion among economists of stock markets that preceded it, and provides valuable insights into their behavior, the concept has its limitations, in terms of both its internal logical coherence and its fit with the data. Section 1 ofthis survey sketches the development of the efficient market theory, reviewing the principal contributions in terms of their usefulness in guiding and evaluating empirical research. Section 2 addresses the limitations inherent in what is knowable about stock market efficiency, given the present state of theory about how security prices might behave in an “efficient” market. It argues that there are binding limitations in the theoryof asset pricing, some of which are known and others of which are unknown or even unknowable. These limitations must be borne in mind when choosing whether to interpret the data as evidence of: (1) market efficiency, under the maintained hypothesis that a specific research design, including a specific model of asset pricing used to benchmark price behavior, correctly describes pricing in an efficient market; or (2) the ability of our models and research designs to encapsulate how prices behave in an efficient market, under the maintained hypothesis of efficiency. Against this background, section 3 then provides an assessment of the accomplishments of the theory of stock market efficiency, including an interpretation of the evidence. It focuses on the nature and influence of the evidence and does not attempt to provide a comprehensive literature taxonomy. The final section offers conclusions. The principal conclusion is that the theory of efficient markets has irreversibly enhanced our knowledge of and respect for stock markets (and perhaps for all financial market or even for markets in general) but that, like all theories, it is fundamentally flawed.