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Article
Publication date: 1 March 1993

Mark Goyder

Examines the 1992 RSA inquiry into the role of business in achanging world. States that it was an holistic and subjective report,concerned with individual companies and the…

Abstract

Examines the 1992 RSA inquiry into the role of business in a changing world. States that it was an holistic and subjective report, concerned with individual companies and the business community as a whole. Suggests six questions which might have been used.

Details

Managerial Auditing Journal, vol. 8 no. 3
Type: Research Article
ISSN: 0268-6902

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Article
Publication date: 1 October 2000

Mark Goyder

In this article an airing is given to some of the recent, very pessimistic, critiques of global capitalism considered to be synonymous with monoculture and dispossession, before…

Abstract

In this article an airing is given to some of the recent, very pessimistic, critiques of global capitalism considered to be synonymous with monoculture and dispossession, before setting against these a much more hopeful view of global capitalism which comes from business itself – an agent of social progress. Finally, some synthesis of the two is attempted, and suggestions are made as to where the opportunities may lie for progress: the rise of the NGO, democratising technology, new pressures on governance and reporting, and new opportunities for innovation in investment.

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Foresight, vol. 2 no. 5
Type: Research Article
ISSN: 1463-6689

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Article
Publication date: 1 April 1999

Mark Wilson, Albert Bokma, Rob Hall, Peter Smith and Julie Wales

The end of the millennium is a useful time to stop and reflect, to review and maybe to ask some big questions. This paper asks a very big question indeed for the accountancy…

Abstract

The end of the millennium is a useful time to stop and reflect, to review and maybe to ask some big questions. This paper asks a very big question indeed for the accountancy profession ‐ ‘What might corporate reporting look like in the 21st Century ?’ This paper looks at issues surrounding the likely future of corporate reporting in the digital age. The Royal Society of Arts Tomorrow’s Company Inquiry (1995) is used as a possible model of corporate information needs in the next millennia. The implications of the model for corporate accounting and information systems are examined. A move from shareholder reporting, to stakeholder reporting and finally to stakeholder dialogue is envisaged. The model raises a number of problems and the use of digital technology is considered as a partial solution to some of these problems.

Details

Journal of Applied Accounting Research, vol. 5 no. 1
Type: Research Article
ISSN: 0967-5426

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Article
Publication date: 1 January 1997

Guy Dresser

Increasing numbers of companies recognize the importance to their long‐term success of non‐financial measures of business performance. But is the investment community still…

Abstract

Increasing numbers of companies recognize the importance to their long‐term success of non‐financial measures of business performance. But is the investment community still focusing on purely financial indicators?

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Measuring Business Excellence, vol. 1 no. 1
Type: Research Article
ISSN: 1368-3047

Article
Publication date: 1 November 1979

DUNCAN SMITH

When characters as diverse as John Wellens, the Bishop of Southwark, and Lords Robens and George‐Brown unite in expressing concern about the underlying trend of British politics…

Abstract

When characters as diverse as John Wellens, the Bishop of Southwark, and Lords Robens and George‐Brown unite in expressing concern about the underlying trend of British politics, it is time to think about an alternative. The leaders of the Conservative and Labour Parties, being practical and not very imaginative people, felt that they had to conduct the recent election campaign on parochial lines. Margaret Thatcher claimed to have a ‘vision’ — remarkably like that of Samuel Smiles — and Jim Callaghan adjured the unions to practise the virtue of fraternity. Such sentiments were not only unrealistic, but also deeply conservative. They did nothing to map out a future which could unite the British people, and recent economic events, are alas, all too reminiscent of the abortive dash for freedom of 1970.

Details

Industrial and Commercial Training, vol. 11 no. 11
Type: Research Article
ISSN: 0019-7858

Article
Publication date: 31 December 2001

Nigel O’Connor

The permeation of the corporate social responsibility imperative and the proliferation of the Internet across the globe have begun to redistribute social influence. A wider…

2170

Abstract

The permeation of the corporate social responsibility imperative and the proliferation of the Internet across the globe have begun to redistribute social influence. A wider spectrum of competing stakeholders now exists and as a result corporate strategies and governance structures are subject to greater demands for transparency and accountability. In this context, reputation, of which the public relations practitioner is custodian, is now a company’s most valuable and fragile asset. To help rationalise the accountability dynamic, proposed changes to UK company law could enable a more inclusive approach to corporate reputation management through a change in definition of directors’ duties and the introduction of a non‐mandatory operating and financial review (OFR) to include intangible assets within a company’s reporting framework. The proposals are likely to be the subject of a white paper and legislation in the this session of parliament. This paper argues that by demonstrating greater emphasis on planning, research and evaluation the public relations practitioner can more effectively inform the company reporting framework and exceed the demands of accountability necessary for successful strategic corporate reputation management.

Details

Journal of Communication Management, vol. 6 no. 1
Type: Research Article
ISSN: 1363-254X

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Article
Publication date: 10 May 2011

Arad Reisberg

The Stewardship Code, the first of its kind for the Financial Reporting Council, seeks to encourage better dialogue between shareholders and company boards. Given the UK market's…

1572

Abstract

Purpose

The Stewardship Code, the first of its kind for the Financial Reporting Council, seeks to encourage better dialogue between shareholders and company boards. Given the UK market's role as a governance paragon, the code principles will be critical to practices of good stewardship taking root globally. But this new Code raises concerns, for example, as to how to treat non‐UK investors who collectively now hold upwards of 40 percent of the country's equity market. Would they voluntarily adhere to the code, and, if not, how relevant or effective would the code be? The purpose of this paper is to shed light on these topical questions.

Design/methodology/approach

The paper focuses on stewardship as an important criterion for assessing the performance of larger shareholders (i.e. institutional shareholders). Section 2 explains the concept of “stewardship”. It also outlines its growing importance. Section 3 introduces the Stewardship Code, tracks back its genesis, focusing, in particular, on the underlying themes and the major principles and guidance in the Code. Section 5 then critically assess the Code, looking in particular at major possible obstacles. Finally, implications from the preceding discussion are drawn in Section 6.

Findings

Section 4 reveals a hidden truth (the “stewardship spectrum”), i.e. in practice, companies operate in an ever‐changing business world, a more rapidly changing business practice with more pressures and complexity and with more diverse “players” and conflicting interests at play. It is submitted that this hidden truth effectively poses a challenge to the success of the Code.

Originality/value

This paper is geared towards providing the reader with critical tools to assess the likely impact of the Code.

Details

Journal of Financial Crime, vol. 18 no. 2
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 1 September 2000

Peter Desmond

Argues that most companies’ annual reports don’t take the opportunity to actually communicate with stakeholders, choosing instead to present basic information as required by law…

1876

Abstract

Argues that most companies’ annual reports don’t take the opportunity to actually communicate with stakeholders, choosing instead to present basic information as required by law. Suggests that companies can produce leaner annual reports that are nonetheless more timely, more encouraging of dialogue, more appropriate for each user, more inclusive and less burdensome, as well as creating a common language for business success. Considers a number of cases and details a framework for a “sooner, sharper, simpler” annual report.

Details

Corporate Communications: An International Journal, vol. 5 no. 3
Type: Research Article
ISSN: 1356-3289

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Abstract

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

Details

The Law and Economics of Class Actions
Type: Book
ISBN: 978-1-78350-951-5

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Article
Publication date: 1 January 1979

“All things are in a constant state of change”, said Heraclitus of Ephesus. The waters if a river are for ever changing yet the river endures. Every particle of matter is in…

Abstract

“All things are in a constant state of change”, said Heraclitus of Ephesus. The waters if a river are for ever changing yet the river endures. Every particle of matter is in continual movement. All death is birth in a new form, all birth the death of the previous form. The seasons come and go. The myth of our own John Barleycorn, buried in the ground, yet resurrected in the Spring, has close parallels with the fertility rites of Greece and the Near East such as those of Hyacinthas, Hylas, Adonis and Dionysus, of Osiris the Egyptian deity, and Mondamin the Red Indian maize‐god. Indeed, the ritual and myth of Attis, born of a virgin, killed and resurrected on the third day, undoubtedly had a strong influence on Christianity.

Details

Management Decision, vol. 17 no. 1
Type: Research Article
ISSN: 0025-1747

1 – 10 of 46