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In the 1990s and beginning of the next decade, a series of financial accounting scandals occurred in the United States (USA or US) and in several other countries of the world. The USA and Italy (among others) responded with legislation to reform financial reporting and corporate governance in these jurisdictions. This paper aims to compare the regulatory response of Italy to that of the USA.

This paper includes a review of relevant literature and evaluation of the actions of the regulatory authorities.

In the case of the financial reporting crises, the rapid response put the USA into the role of the “first mover” with the European Union (EU) reacting to US initiatives and eventually converging to a large degree with the provisions of the US legislation. Italy has adopted many of the same regulatory reforms as the USA and has added some reforms that are directed to the specific needs to Italy.

In conjunction with legislative initiatives like Sarbanes-Oxley, private enforcement mechanisms, such as shareholder class action suits in the USA, play an important role in discouraging and punishing financial accounting fraud.

In the absence of significant reforms of the Italian private enforcement system, corporate governance abuses and the potential for accounting scandals may still be persistent. As a whole, cooperative efforts continue between the USA and the EU. Such efforts are needed more and more, as companies become increasingly globalized.

This paper provides comparison and evaluation of corporate governance reform efforts in the USA and Italy.

The present study aims to examine the relationship between public and informal social control by investigating whether perceptions of neighborhood policing exhibit a positive or negative relationship to informal control. The influence of police‐resident coproduction (police attendance at community meetings, police accessibility, police‐resident problem solving) on informal control is contrasted with general perceptions of police effectiveness and legitimacy.

Survey data from 81 neighborhood leaders representing 81 Portland, OR neighborhoods (i.e. unit of analysis), along with crime and census data is used. Analysis involves multivariate OLS regression and correlations.

A frequency of police attendance at community meetings was negatively related to informal social control, controlling for neighborhood demographics, crime, and social cohesion. Results indicate a community style of policing may not be enough to overcome deeply entrenched attitudes toward the police in the most disadvantaged communities and at worst may discourage informal social control. Perceptions of neighborhood social cohesion and government responsiveness are the best predictors of increased informal social control.

Further research is needed to understand the development of attitudes toward the police, especially in the most disadvantaged communities. The conclusions of the study are limited by the cross sectional design and use of a single neighborhood leader informant.

This paper attempts to identify how clear, tactical methods of collaborating with residents are related to informal social control.

This is one of the few studies to empirically assess whether public social control through neighborhood policing, in particular police‐resident coproduction and police legitimacy, is related to informal social control.

The current study explores the ambiguity of accounting technique in the context of a historical study of the Canadian Indian Department under the direction of Deputy Superintendent D.C. Scott at the beginning of the 20th century. Starting from the work of Bauman and his commentators, we argue that modernity viewed as a set of practices and thought patterns, facilitates bureaucratic constructions of the “Indian problem” In turn, this cultural milieu and bureaucratic construction operated as an ideological circle, encouraging the use of accounting techniques of governance that permitted both the distancing of bureaucrats from indigenous peoples and the downplaying of other vantage points. However, as our analysis highlights, numerical re‐presentations also provided the tools and rhetorical spaces for challenges to government policy.

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.

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

The aim of this paper is to investigate the effects of environmental dynamism on different EO dimensions in family firms. The authors also examine the moderating role of national culture (uncertainty avoidance and in-group collectivism) and the level of family control and influence in fostering/hindering this relationship.

A survey was conducted among 1,143 family firms from twenty-eight countries. The authors developed and tested hypotheses through a fixed-effects regression analysis.

The findings suggest that environmental dynamism has a positive effect on all three EO dimensions. Analysis reveals a positive moderating role of family control and influence and negative moderating roles of in-group collectivism and uncertainty avoidance.

The findings imply that family firm managers should carefully interpret the influence of their national culture on family firm behavior. More specifically, family firms in dynamic environments should consider the importance of the national culture in which they are embedded. Those operating in high uncertainty avoidant and highly collectivist cultures should take proactive steps to cultivate a corporate entrepreneurial culture. On the other hand, the family should not undermine the effect of its control and influence. In dynamic environments, family control and influence may be a competitive advantage in reinforcing entrepreneurial orientation.

The study contributes to the literature on EO in family firms by expanding the previous research on the antecedents of EO and examining moderation effects of culture and family control and influence across a broad multi-country sample. In contrast with the common findings regarding the effect of family logic on EO, the study shows the strengthening role of family control and influence in the relationship between environmental dynamism and EO. The authors show that culture as an informal institution may also play a critical role in hindering/strengthening the relationship between environmental dynamism and EO.

This article presents a General Theory of Social Systems. This general theory proposes a model and method for the design, behaviour, and development of social systems. The model advanced is an exposition of the universal composition of social systems in three‐dimensions. The accompanying prescribed method offers dissection and analysis of past, present, and planned systems from Micro to Meta scales in isolation and relation to external systems.

This issue is a selected bibliography covering the subject of leadership.

Emerging-market multinational companies (EMNCs) utilize cross-border merger and acquisitions (M&As) to acquire strategic assets that compensate for their resource deficiencies. Therefore, developed markets have become important destinations for EMNCs. Institutional distance constitutes a major source of competitive disadvantage for foreign firms competing with indigenous firms. The purpose of this paper is to examine the ownership pattern of cross-border M&As in the USA, and determine if EMNCs respond to institutional distance differently than advanced-market multinational companies (AMNCs).

Based on the extant literature in institutional theory as well as internationalization strategy, a quantitative study was carried out. Hypotheses were proposed and tested using fixed effects panel regressions.

This paper finds that both AMNCs and EMNCs take smaller ownership positions when there is greater cognitive and normative distance. The negative association is stronger for AMNCs than for EMNCs. Further, the larger the regulative distance in the positive direction, meaning a higher level of development in the host market than in the home market, the more AMNCs and EMNCs are led to opt for a higher ownership position, with EMNCs being less influenced by regulative distance.

Though findings are robust and stable, this study is limited to observations that only have US target firms.

By integrating the literature from institutional theory and strategy, this paper offers a clearer understanding and distinction of the acquisition decisions made by EMNCs and AMNCs.