Search results
1 – 10 of over 9000Wendy E. Cohen, David Y. Dickstein, Christian B. Hennion, Richard D. Marshall, Allison C. Yacker and Lance A. Zinman
To explain the US Securities and Exchange Commission (the “SEC”) staff’s (the “Staff”) participating affiliate exemption from investment adviser registration for foreign advisers…
Abstract
Purpose
To explain the US Securities and Exchange Commission (the “SEC”) staff’s (the “Staff”) participating affiliate exemption from investment adviser registration for foreign advisers set forth in a line of Staff no-action letters issued between 1992 and 2005 (the “Participating Affiliate Letters”) and to discuss recent guidance issued by the Staff in an information update published in March 2017 (the “Information Update”) with respect to complying with requirements of the Participating Affiliate Letters.
Design/methodology/approach
Reviews the development of the Staff’s approach regarding the non-registration of foreign advisers that rely on the Participating Affiliate Letters from prior to the issuance of those letters through the Information Update and sets forth recommendations for registered investment advisers and their participating affiliates.
Findings
While there are arguments that the Information Update goes beyond restating established standards and does not clearly explain whether submission of all listed documentation is required, the Information Update will likely standardize the information submitted to the SEC.
Originality/value
Practical guidance for advisers relying on the Participating Affiliate Letters from experienced securities and financial services lawyers.
Details
Keywords
This article seeks to explore the inner workings of affiliate marketing.
Abstract
Purpose
This article seeks to explore the inner workings of affiliate marketing.
Design/methodology/approach
Defines the affiliate marketing marketplace including some of the participants and explores the characteristics of a successful long‐term relationship.
Findings
The key to successful affiliate marketing lies in the construction of a win‐win relationship between the advertiser and the affiliate. Affiliate marketing is likely to become the principal mainstream marketing strategy for e‐commerce businesses in the future.
Originality/value
Looks at the inner workings of affiliate marketing, defines the affiliate marketing marketplace including some of the participants and explores the characteristics of a successful long‐term relationship.
Details
Keywords
Priscilla Burnaby and Susan Hass
The 2006 global Common Body of Knowledge (CBOK) study is part of an ongoing research program designed to document how internal auditing is practiced. The purpose of this paper is…
Abstract
Purpose
The 2006 global Common Body of Knowledge (CBOK) study is part of an ongoing research program designed to document how internal auditing is practiced. The purpose of this paper is to summarize responses to three global surveys of internal auditors.
Design/methodology/approach
Based on literature reviews and a pre‐scope questionnaire, the researchers develop three questionnaires that are answered by internal auditors world wide. Topics in the questionnaires, which are translated from English into 16 languages, include the attributes of an effective internal audit activity (IAA); compliance with The Institute of Internal Auditor (IIA) Standards; internal auditor skills, competencies, and knowledge; internal audit tools and techniques; and emerging roles of the IAA.
Findings
The profession of internal auditing is a rich resource for organizations as the IAA monitors the adequacy and effectiveness of management's internal control framework and contributes to the integrity of corporate governance; risk assessment; and financial, operating, and IT systems.
Practical implications
The participation of IIA members from 91 countries and 9,366 usable responses provides information about the evolving role of internal auditing as a value‐added activity that helps an organization manage its risks and take advantage of opportunities. The CBOK 2006 database can be used to improve the understanding of the current state of internal auditing practices; anticipate the use of new skills, tools, and technologies; and promote the enhancement of standardization and performance of internal auditing world wide.
Originality/value
This paper summarizes information in the most comprehensive database ever to capture a current view of the global state of the internal audit profession.
Details
Keywords
Abstract
This article deals with internal auditors’ use of and compliance with the Standards for the Professional Practice of Internal Auditing, as well as the Practice Advisories, issued by the Institute of Internal Auditors (IIA). The results reported here form part of a global research project, the 2006 Common Body of Knowledge in Internal Auditing (CBOK) study. The research shows that internal auditors worldwide believe that overall, their organisations comply with the Standards. Reasons for not using the Standards relate to organisational attributes such as management’s perceptions that these do not add value and are too time‐consuming to comply with.
Details
Keywords
This chapter seeks to situate theoretically and comparatively the definitions and praxis of feminism by women activists of the Brazilian participatory state feminism in comparison…
Abstract
This chapter seeks to situate theoretically and comparatively the definitions and praxis of feminism by women activists of the Brazilian participatory state feminism in comparison to the current and emerging definitions in the theories and praxis of transnational feminisms. It analyzes the answers to attitudinal as well as behavior questions to a survey conducted in 2016 among delegates to National Conference for Policies for Women, representing over 150,000 women activists from all over the country and from a wide range of organizations and movements (women’s and feminist organizations, trade unions, political parties, black movements, environmental groups, LQBT organizations, etc.). The main research question addressed in this chapter is whether current Brazilian feminisms – constructed by several generations of women – have had a trajectory, convergent with those of the feminisms of the global north and the global south, moving from the “rights feminism” of the 1970s to the current intersectional and emancipatory feminism, which goes beyond the affirmation of women’s rights and gender equality, and moves on to use the broader concept of social justice to propose equality for the whole of society, not just for women.
Details
Keywords
Joyce E. Larson, Kara J. Brown and Ivet A. Bell
To highlight guidance issued by the US Securities and Exchange Commission (SEC) for the benefit of investment advisers regarding certain obligations under the Investment Advisers…
Abstract
Purpose
To highlight guidance issued by the US Securities and Exchange Commission (SEC) for the benefit of investment advisers regarding certain obligations under the Investment Advisers Act of 1940 (Advisers Act) and the rules thereunder.
Design/methodology/approach
Summarizes recent guidance regarding issues related to several challenging Advisers Act requirements, including inadvertent custody and client account transfers under Advisers Act Rule 206(4)-2, the use of participating affiliate arrangements pursuant to the “Unibanco” no-action letters, unique considerations affecting automated advisers (i.e., “robo-advisers”), the top five most frequently identified compliance topics identified in examinations conducted by the SEC’s Office of Compliance Inspections and Examinations (OCIE), and recent guidance regarding the private fund regulatory filing Form PF.
Findings
This guidance may assist advisers in preparing for regulatory examinations and questions from institutional investors. While the recent guidance addresses important topics, the guidance also raises some practical questions.
Originality/value
Practical guidance from experienced securities and financial services lawyers.
Details
Keywords
Hyoungjin Lee and Jeoung Yul Lee
This study examines how the characteristics of innovation knowledge exchanged among affiliate firms affect the ownership strategies adopted for their foreign subsidiaries.
Abstract
Purpose
This study examines how the characteristics of innovation knowledge exchanged among affiliate firms affect the ownership strategies adopted for their foreign subsidiaries.
Design/methodology/approach
This study employs a cross-classified multilevel model to examine a sample of 185 Korean manufacturing affiliates derived from 49 Chaebols engaged in international diversification, along with their 1,110 foreign manufacturing subsidiaries.
Findings
While exploratory innovation knowledge exchange lowers the affiliate's level of ownership in its foreign subsidiary, exploitative innovation knowledge exchange rather increases the affiliate's level of ownership in its foreign subsidiary.
Research limitations/implications
This study advances the literature on intrafirm knowledge exchange by highlighting it as a determinant of ownership strategies. The study further shows that the characteristics of knowledge exchanged at the affiliate level not only determine the ownership structure but also have the potential to shape the direction in which the subsidiary develops its competencies.
Practical implications
This study has practical implications for the managers of business group affiliates. The results suggest that managers should adapt their ownership strategies according to the type of knowledge exchanged at the affiliate level to achieve a balanced and synergistic effect on intraorganizational knowledge exchange.
Originality/value
Previous studies have extensively explored the performance implications related to knowledge exchange. However, there is a notable gap in understanding the mechanisms through which the value of knowledge transferred within an affiliate is realized. To address this gap, this study focuses on ownership strategy as a crucial factor and empirically examines how the characteristics of innovation knowledge exchanged among affiliate firms influence the ownership strategies adopted for their foreign subsidiaries. By investigating this relationship, this study provides valuable insights into the complex dynamics of knowledge exchange and its effect on ownership decisions within business group affiliates.
Details
Keywords
John Douglas MacFarlane, Sean Phelps and Nico Schulenkorf
The purpose of this paper is to document and explore the perceptual motivations for voluntary and continued affiliation with a fitness industry register by its affiliates…
Abstract
Purpose
The purpose of this paper is to document and explore the perceptual motivations for voluntary and continued affiliation with a fitness industry register by its affiliates (“members”) and non-affiliates (“non-members”). The formation of fitness industry registers to impart self-regulation is a common global occurrence. Their sustainment, however, is reliant on the motivations and voluntary support of industry members. Limited work has been done in this area.
Design/methodology/approach
This qualitative study uses the interpretive research paradigm, involving semi-structured interviews with 12 Auckland, New Zealand, fitness centre managers, industry associations, New Zealand Register of Exercise Professionals (Reps NZ) and Fitness New Zealand. Lenox’s (2006) participation-contingent benefits framework provides the necessary lens to explore the perceptual motivations behind participation/non-participation by fitness centres with an industry self-regulatory system (i.e. Reps NZ).
Findings
Whereas participation-contingent benefits are perceived minimal, and exceeded by affiliation limitations, there is institutional congruence for industry regulation to exist, thus creating institutional pressures that encourage affiliation and retention. Whereas affiliates choose to absorb the associated inconveniences of affiliation to “support” Reps NZ, non-affiliates question the register’s regulatory form, choosing to avoid the affiliation costs and limitations.
Originality/value
This study lends further support that institutional development is crucial for inclusive, substantive and sustainable self-regulatory systems. Regardless of the perceived low return on participation-contingent benefits, industry self-regulation can be sustained if there is a desire by industry members to maintain the institutional notion that the regulation needs to exist.
Details
Keywords
Mark A. Johnson and Dana M. Johnson
The primary purpose was to learn about different variables of an integrated strategy associated with choosing to supply through business‐to‐business (B2B) intermediaries and apply…
Abstract
Purpose
The primary purpose was to learn about different variables of an integrated strategy associated with choosing to supply through business‐to‐business (B2B) intermediaries and apply the variables to a series of cases.
Design/methodology/approach
A literature review served as a basis to develop an integrated model. A combination of primary and secondary research was conducted to apply the concepts of the model to different internet trading exchanges.
Findings
Each trade exchange offers a different set of customers and suppliers vying for business opportunities. There are no common platforms for software and hardware. If a small company is interested in trading through an internet exchange, they want to select based on the variables identified that best meet their needs and integrate with their business strategy.
Research limitations/implications
The focus was on industrial products and may not be applicable to consumer products.
Practical implications
Suppliers must carefully operate in the future by evaluating each customer and determining which trade exchanges will provide them with the greatest benefit at the lowest cost. The infrastructure investment is an unavoidable cost that cannot be forgone unless the supplier wants to discontinue providing to most of its customers. The supplier needs to look at all aspects identified in the integrated business model and the foundation and facilitation for success lie in the information management of the entire entity.
Originality/value
This paper takes the existing body of knowledge and applies it to the development of an integrated e‐business model for industrial suppliers used to compare different internet trading exchanges.
Details
Keywords
The purpose of this paper is to question the appropriateness of approaching business ethics communication from within a corporate communication or intercultural management…
Abstract
Purpose
The purpose of this paper is to question the appropriateness of approaching business ethics communication from within a corporate communication or intercultural management framework as the normative stances of these two frameworks are seen to differ with regard to how global companies should communicate with a culturally diverse staff.
Design/methodology/approach
Survey results regarding staff evaluations of various company‐issued arguments used to promote ethical behavior in a global corporate setting are examined. The respondents are staff from the Denmark, Sweden, Brazil, and the USA affiliates of the global health care company, Novo Nordisk.
Findings
Survey results reveal that although there are some important differences between country affiliates, there is also an impressive degree of agreement that corporate identity, values, and reputation are important sources of motivation for ethical behavior.
Practical implications
The findings provide practical guidance for the development of persuasive business ethics programs in global, values‐based companies.
Originality/value
The paper provides support for the corporate communication stance that shared corporate identity, values, and reputation do indeed motivate staff to behave ethically. It also demonstrates the international applicability of this stance.
Details