Search results

The purpose of this paper is to provide evidence about the effects of the MILA agreement in terms of improving financial market efficiency.

The authors measure efficiency by studying the stock reaction to earnings announcements using a conditional heteroscedasticity generalized autoregressive conditional heteroscedasticity-adjusted market model and the most commonly implemented event study tests for 3,399 events across four countries in the Latin American Integrated Market (MILA).

Contrary to expectations, the results show that the MILA agreement has isolated gains in terms of reaction to corporate earnings announcements, which translates into partial improvements in market efficiency. However, the evidence indicates that the MILA agreement favored cointegration, which is in line with other studies.

This paper provides evidence for policymakers and regulators that a stock market agreement is a condition that promotes market cointegration, but it is not an element that in itself ensures an improvement in market efficiency. To achieve greater MILA benefits, regulatory and market-level changes are required.

This is the first study that analyses the effect of a stock market agreement on the efficiency of markets, expanding on what has been studied in the finance literature regarding the influence of these agreements on cointegration.

Esta investigación entrega evidencia sobre los efectos del acuerdo MILA respecto a mejoras en la eficiencia de los mercados accionarios involucrados.

Medimos eficiencia estudiando la reacción de los mercados accionarios tras anuncios de resultados utilizando un modelo de mercado ajustado por heteroscedasticidad condicional (GARCH). Además, consideramos las pruebas de estudios de evento más utilizadas en la literatura para 3,399 eventos en los 4 países involucrados en el acuerdo MILA.

Contrario a lo esperado, los resultados muestran que el acuerdo MILA genera aumentos marginales en la reacción frente a anuncios corporativos, lo cual se traduce en mejoras parciales de la eficiencia de mercados accionarios. Sin embargo, la evidencia muestra que el MILA sí favorece a la cointegración, lo cual va en línea con estudios previos.

Esta investigación entrega evidencia para reguladores de que un acuerdo de integración bursátil promueve cointegración entre mercados, pero no es un elemento que por sí solo asegure una mejora en eficiencia. Para alcanzar mayores beneficios del acuerdo MILA, se requieren cambios adicionales a nivel de mercado accionario y de regulación.

Este es el primer estudio que analiza el efecto de un acuerdo de integración bursátil en la eficiencia de los mercados accionarios, expandiendo lo que ha sido ya encontrado en la literatura financiera respecto a la influencia de estos acuerdos en cointegración.

American research findings suggest that genetic factors are involved in the etiology of alcoholism. This led to consideration of the possibility that genetic factors might also be involved in the causation of drug abuse. The results of the US researchers' review of the present state of knowledge in the fields of alcoholism and drug abuse are published as: Biological Vulnerability to Drug Abuse (PB89‐125520) (A09) by the US Government's National Technical Information Service. Their UK distributor is Microinfo Ltd, PO Box 3, Omega Park, Alton, Hampshire, GU34 2PG and Nicola Fish will supply more information and the price of the document.

Wonders whether companies actually have employees best interests at heart across physical, mental and spiritual spheres. Posits that most organizations ignore their workforce – not even, in many cases, describing workers as assets! Describes many studies to back up this claim in theis work based on the 2002 Employment Research Unit Annual Conference, in Cardiff, Wales.

The purpose of this paper is to contribute to the sociology‐of‐science type of accounting literature, addressing how accounting knowledge is established, advanced and extended.

The research question is answered through the example of research into linkages between accounting and religion. Adopting an actor‐network theory (ANT) approach, the paper follows the actors involved in the construction of accounting as an academic discipline through the controversies in which they engage to develop knowledge.

The paper reveals that accounting knowledge is established, advanced and developed through the ongoing mobilisation of nonhumans (journals) who can enrol other humans and nonhumans. It shows that knowledge advancement, establishment and development is more contingent on network breadth than on research paradigms, which appear as side‐effects of positioning vis‐à‐vis a community.

The originality of this paper is twofold. First, ANT is applied to accounting knowledge, whereas the accounting literature applies it to the spread of management accounting ideas, methods and practices. Second, an original methodology for data collection is developed by inviting authors from the network to give a reflexive account of their writings at the time they joined the network. Well diffused in sociology and philosophy, such an approach is, albeit, original in accounting research.

Gossip is part of everyday life and can play an important role in society. It has been part of human communication since we started to talk and is common to communities around the world. Evidence of gossip adorned the walls of ancient tombs in Egypt, and advice against gossiping can be found in the words of King Solomon in the Old Testament, in the theses of Greek philosophers, and in proverbs from all cultures. Yet gossip continues to be all around us, and most of our conversation time involves some form of it. Despite this, those who initiate gossip are often derided for being gossip mongers, and not without good reason. At its worst, gossip can destroy reputations and businesses, be used as a form of bullying, and cause a great deal of distress. In this chapter, however, I focus on why and how gossip is used and the purpose it serves in village life. Ambridge resident Susan Carter is a renowned gossip with high, unsubtle output compared to other villagers. I look at Susan's gossiping at both a psychosocial level and in terms of benefits she may gain. I also discuss gossip at the village level from two perspectives. I explore the importance of gossip to village life based upon peer reviewed literature, and relate these findings to the comings and goings of the residents of Ambridge. I then also look at how gossip is needed to relay storylines to the listeners. Finally, social media has helped to bring together Archers fans who like nothing more than to spend hours gossiping about their favourite villagers and berating Susan for her tittle-tattle. Yet The Archers wouldn't exist without gossip, so maybe we should be grateful to Susan and carry on gossiping.

Upcycling was introduced in The Archers by Fallon Rogers, who created a business from selling furniture she had upcycled. The author cites other examples from Archers episodes: Bert Fry’s egg mobile was originally an old caravan. Eddie Grundy built Lynda Snell’s shepherd’s hut from farmyard scrap. Josh Archer expanded his online farm equipment sales to include old items refurbished and sold for profit. Definitions of upcycling imply that the original item has become worthless. The author, however, includes examples of nostalgic value placed on relics of a bygone age and suggests a dichotomy between the values of older versus younger Ambridge residents. Upcycling can also be viewed in a metaphorical sense: Lilian Bellamy, for example, regularly upcycled herself with cosmetic assistance. The most sinister example is that of Rob Titchener, who used coercive control to upcycle Helen (then) Titchener into the image he wanted. The author concludes that while motives may take several forms, it is Fallon Rogers who consistently uses both creativity and business sense in her upcycling endeavours.

The tourism industry is known to be both famous and infamous in a way that there is a blurred line between how much tourism is sustainable and how much it is not. However, there is no denying of the fact that the industry is in need of innovative and upgraded mechanisms to ensure sustainability. Technology, on the other hand, is making great strides in providing support to ensure sustainable development across various sectors. Taking cues from the existing work, this chapter investigates the various facets of technology in imbibing sustainability, especially in the tourism sector, and proposes a framework for technology-led sustainable tourism development process. The chapter concludes that both technology and sustainable development concept share the common principles of being holistic, futuristic and interrelated (integrated). Therefore, technology can be a proper solution to develop a sustainable model.

Arts festivals use projects to showcase creative works, configuring a creative field, whether locally, regionally or internationally, by whom engages and attends to the arts festival: artists, funders, media and audiences. This study compares the Edinburgh and Berlin arts festivals founded after World War II. Each city began with a founding festival. Edinburgh International Festival of Music and Drama sought to reconcile and heal international relations whereas the Berlin International Film Festival sought to showcase free expression and democracy. Both founding festivals were internationally oriented, as seen in their names. Each city added festivals over time and engaged in distinct temporal strategies and configured different creative fields. Edinburgh’s additional festivals entrained to its founding festival, synchronizing in time and place five festivals which led to greater duration and intensity of the experience and configured an international creative field: artists, media, and audiences who attended and engaged with the city festivals. In contrast, Berlin’s founding Film festival, which was internationally oriented, was followed by festivals that were treated as distinct, scheduling each festival sequentially across a yearly calendar and configuring a creative field regionally oriented around Germanic language and culture. Thus, a city’s temporal strategies for arts festivals may configure international, regional and local creative fields, changing who comprises the field to interact.

A systematic investigation of postgraduate leadership programs for health and/or human services offered by Australian higher education institutions was undertaken.

Quantitative analysis identified the core characteristics of the programs. A thematic analysis of the course learning outcomes was conducted and six major themes of disciplinary leadership and management knowledge; research and analytical skills; professional practice; communication and collaboration; creativity and innovation; and system knowledge are shared in this study.

The authors conclude that Australian universities have taken an evidence-based approach to leadership education.

More work might need to be undertaken to ensure leadership theories are incorporated into learning outcomes.