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The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.

This chapter describes the role of service employees’ motives for emotion regulation in interactions with customers. To date, there has been little research and theoretical work on motives for emotion regulation in service work. The reason for this may lie in the fact that there is an implicit general assumption that employees regulate their emotions in customer interactions because of display rules given by the organization. We argue that service employees have more motives for emotion regulation than adhering to display rules. We propose that three fundamental motive categories which are relevant for general emotion regulation are also relevant in the service work context. Moreover, we argue that the different motive categories are important antecedents for the further emotion regulation process. We propose that depending on the motive category different emotion regulation strategies are used as well as moderating effects of the motives with an impact on the consequences of emotion regulation such as well-being. The chapter concludes by pointing to practical implications.

This article explores how legal intermediaries facilitate or inhibit social change. We suggest the increasing complexity and ambiguity of legal rules coupled with the shift from government to governance provide legal intermediaries greater opportunities to influence law and social change. Drawing from new institutional sociology, we suggest rule-intermediaries shape legal and social change, with varying degrees of success, in two ways: (1) law is filtered through non-legal logics emanating from various organizational fields and (2) law is professionalized by non-legal professionals. We draw from case studies in the United States and France to show how intermediaries facilitate or inhibit social change.

European air transport policy, emerged through the confluence of case law and legislation, in four broad areas: liberalization, safety and security, greening, and the external policy. Following the implementation of the single market for air transport, policy shifted to liberalizing and regulating associated services and in recent years to greening, the external aviation policy, and safety and security. Inclusion of air transport in the Environmental Trading Scheme of the European Union exemplifies the European Commission’s proactive stand on bringing the industry in line with emission reduction trajectories of other industries. However, the bid to include flights to third countries in the trading scheme pushed the EU into a controversial position, causing the Commission to halt implementation and to give ICAO time to seek a global multilateral agreement. The chapter also discusses how the nationality clauses in air services agreements breached the Treaty of Rome, and a court ruling to that effect enabled the EC to extend EU liberalization policies beyond the European Union, resulting in the Common Aviation Area with EU fringe countries and the Open Aviation Area with the USA. Another important area of progress was aviation safety, where the EU region is unsurpassed in the world, yet the Commission has pushed the boundary even further, by establishing the European Safety Agency to oversee the European Aviation Safety Management System. Another important area of regulatory development was aviation security, a major focus after the woeful events in 2001, but increasingly under industry scrutiny on costs and effectiveness. The chapter concludes by arguing that in the coming decade, the EU will strive to strengthen its position as a global countervailing power, symbolized in air transport by a leadership position in environmental policy and international market liberalization, exemplified in the EU’s external aviation policy.

The study aims at reviewing a synthesis of disclosure, transparency, and International Financial Reporting Standards (IFRS) implementation in an attempt to provide directions for future research. Prior research overwhelmingly supports that the IFRS adoption or effective implementation of IFRS will enhance high-quality financial reporting, transparency, enhance the country’s investment environment, and foreign direct investment (FDI) (Dayanandan, Donker, Ivanof, & Karahan, 2016; Gláserová, 2013; Muniandy & Ali, 2012). However, some researchers provide conflicting evidence that developing countries implementing IFRS are probably not going to encounter higher FDI inflows (Gheorghe, 2009; Lasmin, 2012). It has also been argued that the IFRS adoption decreases the management earnings in countries with high levels of financial disclosure. In general, the study indicates that the adoption of IFRS has improved the financial reporting quality. The common law countries have strong rules to protect investors, strict legal enforcement, and high levels of transparency of financial information. From the extensive structured review of literature using the Scopus database tool, the study reviewed 105 articles, and in particular, the topic-related 94 articles were analysed. All 94 articles were retrieved from a range of 59 journals. Most of the articles (77 of 94) were published 2010–2018. The top five journals based on the citations are Journal of Accounting Research (187 citations), Abacus (125 citations), European Accounting Review (107 citations), Journal of Accounting and Economics (78 citations), and Accounting and Business Research (66 citations). The most-cited authors are Daske, Hail, Leuz, and Verdi (2013); Daske and Gebhardt (2006); and Brüggemann, Hitz, and Sellhorn (2013). Surprisingly, 65 of 94 articles did not utilise the theory. In particular, four theories have been used frequently: agency theory (15), economic theory (5), signalling theory (2), and accounting theory (2). The study calls for future research on the theoretical implications and policy-related research on disclosure and transparency which may inform the local and international standard setters.

Strong versions of the Precautionary Principle (PP) require regulators to prohibit or impose technology controls on activities that pose uncertain risks of possibly significant environmental harm. This decision rule is conceptually unsound and would diminish social welfare. Uncertainty as such does not justify regulatory precaution. While they should reject PP, regulators should take appropriate account of societal aversion to risks of large harm and the value of obtaining additional information before allowing environmentally risky activities to proceed.

This chapter reconsiders commonly held views on the ownership and management of private property, contrasting capitalist and simple property, particularly in relation to how a firm shareholder governance model has shaped society. This consideration is motivated by the scale and scope of the modern global crisis, which has combined financial, economic, social and cultural dimensions to produce world disenchantment.

By contrasting an exchange value standpoint with a use value perspective, this chapter explicates current conditions in which neither the state nor the market prevail in organising economic activity (i.e. cooperative forms of governance and community-created brand value).

This chapter offers recommendations related to formalised conditions for collective action and definitions of common guiding principles that can facilitate new expressions of the principles of coordination. Such behaviours can support the development of common resources, which then should lead to a re-appropriation of the world.

It is necessary to think of enterprises outside a company or firm context when reflecting on the end purpose and means of collective, citizen action. From a methodological standpoint, current approaches or studies that view an enterprise as an organisation, without differentiating it from a company, create a deadlock in relation to entrepreneurial collective action. The absence of a legal definition of enterprise reduces understanding and evaluations of its performance to simply the performance by a company. The implicit shift thus facilitates the assimilation of one with the other, in a funnel effect that reduces collective projects to the sole projects of capital providers.

Because forsaking society as it stands is a radical response, this historical moment makes it necessary to revisit the ideals on which modern societies build, including the philosophy of freedom for all. This utopian concept has produced an ideology that is limited by capitalist notions of private property.

Financial assurance rules, also known as financial responsibility or bonding requirements, foster cost internalization by requiring potential polluters to demonstrate the financial resources necessary to compensate for environmental damage that may arise in the future. Accordingly, assurance is an important complement to liability rules, restoration obligations, and other regulatory compliance requirements. The paper reviews the need for assurance, given the prevalence of abandoned environmental obligations, and assesses the implementation of assurance rules in the United States. From the standpoint of both legal effectiveness and economic efficiency, assurance rules can be improved. On the whole, however, cost recovery, deterrence, and enforcement are significantly improved by the presence of existing assurance regulations.