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This paper aims to examine the capital market effects and predominance of unregulated embedded value (EV) financial reporting in the life insurance industry in foreign domestic markets, and US markets for foreign firms that cross-list in the USA.

Recent empirical archival data are analyzed and evaluated to determine the incremental and relative value relevance of an unregulated valuation metric that is disclosed by life insurers.

The findings support the proposition that EV is valuable supplemental information in foreign domestic markets, and in US markets for foreign life insurers that cross-list in the USA. Given that International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) are engaged in projects to improve accounting standard for insurance companies, and have faced criticism with the existing drafts on this issue, the two institutions ought to consider the valuation relevance of EV disclosures. Moreover, this analysis strongly suggests that financial analysts in the USA should consider EV in valuing life insurers’ stocks.

The findings discussed in this paper are of special interest to financial reporting policy makers, financial analysts, firm compensation committees and managers, and academics.

This paper contributes to the extant literature by providing recent evidence that suggests that EV, an unregulated fair value market-driven metric, is more value-relevant than traditional earnings metrics such as earnings and book value. It is the only study that we are cognizant of that critically examines the recent empirical literature on this evolving issue.

The purpose of this study is to evaluate the impact of ASU 2016–01 on the predictive value, the confirmatory value and the value relevance of earnings. One of the key provisions of ASU 2016–01 is the requirement that all changes in unrealized gains and losses on all equity securities are recognized in income instead of other comprehensive income (OCI) as under prior guidance (SFAS 115). Because many companies in the insurance industry are large holders of equity securities, the sample for this study consists of firms from the insurance industry.

The author compares the change in earnings volatility and analysts’ forecast error for the periods before and after adoption of ASU 2016–01, and the relationship between the percentages of assets invested in equity securities for both earnings volatility and analysts’ forecast error. Further, the author tests the price reaction at the time of the release of earnings using an event study. The author also tests the value reliance of earnings measured by the correlation of earnings and stock prices, as well as the change in earnings and stock returns. The association between investment gain/loss components of earnings, and OCI, with stock prices and returns is tested for value relevance.

The findings of this study show that earnings volatility and analysts’ forecast errors increased in the period after adopting ASU 2016–01 and an initial overreaction to earnings releases. Further, the investment gain/loss components of earnings and OCI are not value-relevant in this study and including unrealized gains/losses on equity securities in income decreased value relevance of earnings in the post-adoption period, particularly for firms with large equity investment portfolios.

This study is limited to one industry and only represents the impact of ASU 2016–01 on that industry. Thus, there are opportunities to extend the research to other industries. Furthermore, the time-period of study since adopting ASU 2016–01 is limited to only two years and with the passage of time, a greater sample of post-ASU 2016–01 will be available for testing.

Standard setters considering recognizing fair value changes on all investment securities in income should consider the findings of this study. Further, industry participants affected by ASU 2016–01 should consider improving explanation of earnings to mitigate the initial misunderstanding of earning announcements found in this study.

To the best of the author’s knowledge, this is the first study on the effects of ASU 2016–01 on volatility of earnings, earnings forecast errors, market reactions to earnings releases and the value relevance of earnings. This paper fills a gap in prior research by studying the effects of fair value on reported earnings, which is limited in prior research. This study contributes to the growing field of research on fair value accounting.

Scott McGregor is President and CEO of Philips Semiconductors, one of the five divisions of Royal Philips Electronics. Philips Semiconductors, based in Eindhoven, The Netherlands, has over 34,000 employees in more than 50 countries. With sales of around €4.6 billion in 2002, Philips Semiconductors is one of the world’s top ten semiconductor suppliers. The division is focused on becoming the leading provider of semiconductor‐based solutions for connected consumer applications. Additionally, it is a volume manufacturer of semiconductors for multi‐market products. In this interview, Mr. McGregor discusses the need for leaders to practice transparent communication, develop their flexibility and take an informed approach to outsourcing.

The purpose of this paper is to outline the development and implementation of the “values‐driven competency‐based performance management system” (VDCBPMS) and report the findings of a study that aims to examine the effect of the new PMS on officers of the Hong Kong Police Force.

The research focuses on the officers’ perceptions and attitudes resulting from the intervention and hypothesizes that the new system will increase their organisational commitment and job satisfaction, job‐effort and value alignment with the Force, as well as overall performance of the Force through enhanced performance of individual officers. The study employs a staff survey and interviews with a cross section of officers in different ranks to examine the impact on them of VDCBPMS.

The research findings reveal evidence to support all the hypotheses and their implications for management are outlined.

The research is not a done in a “before‐and‐after” fashion due to inherent limitations and the findings cannot be isolated from other clandestine management initiatives for examination due to practical limitations.

The research findings provide food for thought for the management to consider how best to improve the performance of officers in the Force.

The research findings suggest ways to improve policing in Hong Kong, which ultimately will benefit the society of Hong Kong at large.

This research fills a void in the literature of competency‐based PMS by introducing the “values” dimension to the notion, and contributes to the study of public policy implementation by illustrating how a novice system is developed and introduced in a policing context.

Although the field of neuroscience has evolved dramatically, little research has attempted to conceptualize the impact of neuroscience on the field of human resource development (HRD). The purpose of this study is an integrative review of the influential relationship between neuroscience and workplace learning including applicable implications for HRD research and practice.

By reviewing 93 studies on neuroscience and brain-based learning published between 1995 and 2017, the authors synthesized their findings.

This study discusses the basic concepts of neuroscience such as the structure and functions of the brain, neuroscientific findings about memory and cognition, the effect of neural transmitters on memory and cognition and the neuroscience of learning. This study also illustrates brain-based learning styles affecting learning and describes various neuroscientific learning principles and models that can be applied to practical planning and the delivery of workplace learning and HRD activities.

This study concludes with brain-based learning principles called neuroscientism compared with traditional learning theories. It also includes several brain-based learning cases from workplace settings and implications for future research and further HRD practices.

This study aims to explore whether McGregor's theory X/Y assumptions are determinants of managers' propensity for participative decision making (PDM).

Surveys measuring theory X/Y assumptions and propensity for PDM were administered to 144 full‐time managers from divergent industries across the USA. The hypotheses were tested using linear regressions.

Results generally support McGregor's assertion that managers' theory X/Y assumptions are linked to PDM. Findings suggest that theory X managers perceive that PDM negatively impacts their power while theory Y managers perceive a positive consequence of soliciting employee participation on their supervisory power and organizational effectiveness.

Although respondents represented diverse industries and organizations, the use of convenience sampling may temper generalizability of the findings. Also, the use of self‐reports may have elicited socially desirable responses. Greater attention is needed from researchers and practitioners to understand how managers' assumptions influence the adoption or avoidance of PDM.

Findings suggest that managers' predisposition for PDM is predicted to a large extent by their theory X/Y assumptions. These results provide a compelling case for managers to continuously question their assumptions about employees and critically examine whether their biases influence their decision‐making practices.

This study expands the landscape of PDM literature, adding further evidence that individual‐difference variables, in this case theory X/Y assumptions, greatly influence supervisors' biases about employee participation.

This article aims to bring together and demonstrate overlaps in three different areas of reflexive research concerned variously with audiences for contemporary dance. These are: 1) artists reflecting on their own creative process and engaging other researchers in doing so, generating new insights and language as a result; 2) humanities-based dance studies and a small number of dance scholars reflecting on this “process turn” in dance; and 3) the field of empirical audience studies, drawing on a single study specifically interested in access to creative process. The goal is to propose how these areas might coexist and mutually inform each other.

The approach develops a three-fold framework where the multiple definitions and examples of reflexive research in dance-making processes coexist. It draws systematically on a detailed example of one self-reflective study conducted by a dance company into creative process, on new scholarly writing on the “process turn” in dance research and written analysis of a unique audience research project as well as related literature.

In conclusion, the article suggests that in whatever combination of different research approaches, empirical evidence is increasingly important. This risks tipping the balance towards a more utilitarian understanding, particularly in the area of audience studies. It is possible to counterbalance this with approaches from artists and scholars interested in understanding arrived at through reflexive study of creative practice.

The original contribution is to bring these three areas together for the first time to expose difference and overlaps and suggest that challenges of understanding (in a non-utilitarian form) could be mitigated through more systematic dialogue between them, such as presented here.

The purpose of this research is to report on the surveying of three vernacular thatched properties in the Outer Hebrides, Scotland, all run as Youth Hostels.

The case study buildings are compared with 42 Arnol, the blackhouse on North Lewis cared for by Historic Scotland. The paper compares plan form, roof structure, thatching material and securing methods using data collected during extensive field investigations in 2004.

The paper concludes that the more northerly property Garenin most closely resembles 42 Arnol and can be classified as “Hebridean” in structure, while Howmore to the south is typical of the “Skye” pattern. Berneray, the central of the three properties, exhibits construction techniques of both types, indicating that it defines the boundary between the two types.

The findings of this research will be useful to surveyors, owners and maintenance managers responsible for these unique vernacular structures.

Although McGregor’s Theory X and Y holds significant attention in literature, research on the managerial assumptions and leadership is very scarce. The purpose of this paper is to examine the influence of a leader’s Theory X and Y managerial assumptions on follower perceptions of transformational leadership behaviors and the moderating role of the leader’s gender in this relationship.

A total of 108 leaders provided ratings of their Theory X and Y managerial assumptions; 398 followers then rated their leaders’ transformational leadership behavior. To test the hypotheses, moderated hierarchical regression analysis was conducted.

The results indicated that a leader’s Theory Y managerial assumptions are positively related to the followers’ ratings of transformational leadership behavior while a leader’s Theory X managerial assumptions are negatively related to the ratings of transformational leadership behavior. Furthermore, the relationship between Theory Y managerial assumptions and ratings of transformational leadership behavior are stronger for female leaders than male leaders.

This study provides important insights for leadership literature by depicting how cognitive mental schemas (i.e. Theory X and Y assumptions) and gender influence their transformational leadership behaviors.