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Distinguishing what employers in different areas of Great Britain need to pay to attract and retain labour has been a central component of public-sector resource allocation decisions. This paper examines how changes in the pattern of spatial wage differentials following the global financial crisis have impacted on the formulae which allocate government funding to local government and health providers in the NHS.

Using employer-reported data on earnings, we examine spatial patterns of private-sector wages in Great Britain between 2007 and 2017. The method permits the analysis of finely defined geographical areas and controls for differences in industry and workforce composition to distinguish those differences that are attributable from unmeasured characteristics, such as differences between areas in the cost of living and amenities. These standardised spatial wage differentials (SSWDs) underpin the funding allocation formulae.

The analysis shows that since 2007 private-sector wage dispersion, both within and between regions, has reduced: lower paid areas have experienced a relative increase in wages and higher paid a relative decline. Over the period, there was a significant reduction in the London wage premium.

This paper demonstrates the importance of ensuring established policies are applied using contemporary data. The SSWDs used to distribute government funds have not been re-estimated for some time. As a result, the current resource allocation model has overcompensated the London region and undercompensated others during this period.

The purpose of this paper is to consider a discrete‐time, Markov, regime‐switching, affine term‐structure model for valuing bonds and other interest rate securities. The proposed model incorporates the impact of structural changes in (macro)‐economic conditions on interest‐rate dynamics. The market in the proposed model is, in general, incomplete. A modified version of the Esscher transform, namely, a double Esscher transform, is used to specify a price kernel so that both market and economic risks are taken into account.

The market in the proposed model is, in general, incomplete. A modified version of the Esscher transform, namely, a double Esscher transform, is used to specify a price kernel so that both market and economic risks are taken into account.

The authors derive a simple way to give exponential affine forms of bond prices using backward induction. The authors also consider a continuous‐time extension of the model and derive exponential affine forms of bond prices using the concept of stochastic flows.

The methods and results presented in the paper are new.

The ethics of rights or the separative model has dominated Western thought since the Enlightenment and the ethics of care was developed as a feminist critique seeking to rebalance our basic thought structure. The ethics of care is used as a framework for analysis and as a visionary ideal to evaluate proposed changes in accounting practice. Reports on changes in conceptualizing accounting practice proposed by the AICPA’s special committees on assurance and financial reporting. The proposals challenge traditional views of accounting practice, based on rights thinking, and adopt concepts from new management theories compatible with the ethics of care. Contends that it is not clear to what extent these proposals, and other current proposals to address the problem of auditor independence, represent a real paradigm shift. The proposed changes are driven by an economic imperative to expand the scope of services of the profession and may result in a significant threat to the accounting profession’s claims to professional status.

The sociology of professions literature has theorized that the professions are undergoing a dramatic transformation from being traditional professions to “entrepreneurial professions” populated by “knowledge workers.” In part, this transformation is associated with the commodification and commercialization of professional endeavor.

Our purpose is to enlist the processual ordering perspective to examine the ongoing transformation of the Big 5 (and following the collapse of Arthur Andersen during our field study)/4 public accounting firms to become entrepreneurial firms populated by global knowledge experts. More specifically, we focus on the inter-play of power and meta-power across three moments of the social construction process – externalization, objectivation, and internalization – through which the ethos of entrepreneurialism is being socially constructed within these firms, their individual members, and in the public accounting profession. Finally, we explore impressions gleaned from our qualitative, naturalistic field study.

The purpose of this paper is to explore significant events in psychotherapy with clients with intellectual disabilities (IDs).

Four therapy dyads, each consisting of one client and one therapist, were recruited. Following the brief structured recall procedure (Elliott and Shapiro, 1988), semi-structured interviews focused on helpful events in psychotherapy, using video of particular sessions as a stimulus to help prompt recall of that session.

Using interpretative phenomenological analysis, five super-ordinate themes were identified: “The Uniqueness of the Therapeutic Relationship”; “Using adaptations to Express Emotions”; “Client Behaviour/Therapist Behaviour”; “Hope and Paternalism”; and “Meaning-Making”. The results provide additional evidence that significant therapy events occur for clients with IDs. Furthermore, the research enabled insights to be gained about the process of therapy for this client group and for exploration of therapeutic factors that may be involved in facilitating a significant therapy event.

This study highlights the need for therapists to work in such a way as to facilitate significant events in therapy. Whilst this study was a necessary first step, owing to the non-existence of research in this area, the sample size and qualitative design may limit any wider generalisation of the findings.

Significant events have not previously been explored in psychotherapy with clients with IDs. This research could therefore make an important contribution to our understanding of the process of psychotherapy for this client group.

The rapid evolution of Internet technology has created the ability to disseminate new information nearly instantaneously to a world‐wide audience. Many business and finance organisations have already applied this capability. Examples are real‐time stock quotes, on‐line news wires and e‐commerce.

In the run‐up to the 1992 single‐market deadline, there were concerns that inter‐industry adjustment pressures among EU member countries would increase. Such expectations were due partly to a perceived reversal of the post‐Second World War growth in intra‐industry trade (IIT). Finds that average IIT levels continued to rise during the implementation of the single market. It is argued that the concept of marginal IIT(MIIT) is of greater relevance to adjustment than “static” IIT. Some evidence is shown to support this proposition, and a comprehensive set of intra‐EU MIIT indices is calculated for the 1980s. Since average MIIT levels in the 1988‐92 period were higher than in the early 1980s, this analysis also supports the conclusion that, on average, adjustment to the single market was no more disruptive than that experienced during earlier stages of European integration. It also appears that the forces for inter‐industry adjustment are stronger in traditional, declining industries, whereas the expansion of relatively advanced industries tends to be more evenly shared by the EU member countries.

Many homeless people have significant levels of early adverse experiences and consequent mental health difficulties. The purpose of this paper is to examine the experiences of residents and staff living and working in a psychologically informed environment (PIE), a new model of hostel for homeless people which aims to update and make more flexible the principles of the therapeutic community, thereby meeting the psychological and emotional needs of residents.

Semi-structured interviews were carried out with nine residents, ten staff and five psychotherapists at two PIE hostels in London. The data were analysed using thematic analysis with a phenomenological epistemological approach.

Analysis generated 18 themes for residents and staff combined, organised into five domains: what makes a home, resident needs, managing relationships, reflective practice and theory vs practice of PIEs. The study suggests that PIEs broadly meet their aim in providing a different type of environment from standard hostels. Efforts to build relationships with residents are particularly prioritised. This work can be challenging for staff and reflective practice groups provide a supportive forum. There are limits to the extent to which the theoretical PIE can be put into practice in the current political and economic climate.

This is one of the first qualitative studies of PIEs. It provides perspectives on their theoretical background as well as how they operate and are experienced in practice. It may be informative to services intending to establish a PIE and to commissioners in assessing appropriate resources.

The progressive computerization of business processes and widespread availability of computer networking make it possible to dramatically increase the frequency of periodic audits by redesigning the auditing architecture around Continuous Online Auditing (COA). Continuous auditing is viewed here as a type of auditing that produces audit results simultaneously with, or a short period of time after, the occurrence of relevant events. It is arguable that continuous auditing can be implemented only as an online system, i.e., a system that is permanently connected through computer networking to both auditees and auditors. This article proposes a research agenda for the emerging field of COA. First, the history, institutional background, feasibility of and some experiences in COA are briefly reviewed. Thereafter, a number of research issues relating to the architecture of COA, factors affecting the use of COA, and the major consequences of COA are presented. Finally, a selected number of research issues are highlighted as priorities for future research in COA.