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Book part
Publication date: 2 June 2008

Stephen T. Easton

Regardless of extent of substitutability and complementarity in a conventional general equilibrium model with three factors and two sectors, there is no possibility that…

Abstract

Regardless of extent of substitutability and complementarity in a conventional general equilibrium model with three factors and two sectors, there is no possibility that factor rewards of the extreme factors will reverse their ranking in response to a change in relative prices.

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Contemporary and Emerging Issues in Trade Theory and Policy
Type: Book
ISBN: 978-1-84950-541-3

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Article
Publication date: 1 February 2004

Jerry Dauterive and Wing Fok

Although many recognize China’s vast market potential, the challenges of doing business in an economy that was largely closed to market forces for a half century must be…

Abstract

Although many recognize China’s vast market potential, the challenges of doing business in an economy that was largely closed to market forces for a half century must be recognized. This paper examines the role of venture capital in China’s economic development. The potential impact of a healthy venture capital market is immense, but this healthy market is far from the reality in China. The major obstacles that must be addressed include the state control of vital institutions and regulation of economic activity, including restrictions on the flow of capital and currency.

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Managerial Finance, vol. 30 no. 2
Type: Research Article
ISSN: 0307-4358

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Book part
Publication date: 2 June 2008

Abstract

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Contemporary and Emerging Issues in Trade Theory and Policy
Type: Book
ISBN: 978-1-84950-541-3

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Article
Publication date: 23 October 2009

C.S. Agnes Cheng and Stephen W.J. Lin

The purpose of this paper is to investigate the timing of upward asset revaluations using large UK data.

Abstract

Purpose

The purpose of this paper is to investigate the timing of upward asset revaluations using large UK data.

Design/methodology/approach

A standard logistic model is used to examine the timing of upward asset revaluations. The result is further confirmed by using the ordinary least squares regression.

Findings

UK firms with higher industrial leverage and share performance two years before the revaluation year are inclined to write up their assets, suggesting that firms choose not to recognise good news unless it has been supported by their superior market performance and industry norm. This finding differs from the leverage reduction as well as the signalling objective suggested by previous literature.

Originality/value

This paper provides the first UK evidence on the timing of upward asset revaluation, which further enhance the understanding of the economic determinants of upward asset revaluations.

Details

International Journal of Accounting & Information Management, vol. 17 no. 2
Type: Research Article
ISSN: 1834-7649

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Book part
Publication date: 18 March 2014

Jari Eloranta, Svetlozar Andreev and Pavel Osinsky

Did the expansion of democratic institutions play a role in determining central government spending behavior in the 19th and 20th centuries? The link between democracy and…

Abstract

Did the expansion of democratic institutions play a role in determining central government spending behavior in the 19th and 20th centuries? The link between democracy and increased central government spending is well established for the post-Second World War period, but has never been explored during the first “wave of democracy” and its subsequent reversal, that is 1870–1938. The main contribution of this paper is the compilation of a dataset covering 24 countries over this period to begin to address this question. Utilizing various descriptive techniques, including panel data regressions, we explore correlations between central government spending and the institutional characteristics of regimes. We find that the data are consistent with the hypothesis that democracies have a broader need for legitimization than autocracies as various measures of democracy are associated with higher central government spending. Our results indicate that the extension of franchise had a slight positive impact on central government spending levels, as did a few of the other democracy variables. We also find that early liberal democracies spent less and monarchies more than other regimes; debt increases spending; and participation in the Gold Standard reduced government spending substantially.

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Article
Publication date: 13 March 2017

Graeme Lockwood, Claire Henderson and Stephen Stansfeld

This study aims to examine workplace stress in a random sample of litigated cases heard in UK courts. The majority of claims related to clinical depression. The alleged…

Abstract

Purpose

This study aims to examine workplace stress in a random sample of litigated cases heard in UK courts. The majority of claims related to clinical depression. The alleged causes of workplace stress most commonly cited in the litigation included excessive workload, followed by poor management practices; organisational, economic or technical changes; aggressive management style; and bullying by co-workers.

Design/methodology/approach

The term claimant is used to refer to the worker who made the original complaint of workplace stress, and the term defendant refers to the employing organisation defending the claim. In an attempt to establish the number and type of claims brought forward, the population of individual case records relating to workplace stress was accessed electronically from a variety of legal databases.

Findings

The presence of effective workplace stress management policies were important interventions that played a particularly significant role in avoiding legal action and reducing employees’ detrimental experiences. A significant finding was that 94 per cent of the cases were found in favour of the employer as the defendant, and the implications of this for managerial practice are suggested. This analysis of 75 cases between 1992-2014 will shed valuable light on the nature of workplace stress claims heard in the courts and the likelihood of the claimant employee’s success in such cases.

Research limitations/implications

Further work could be undertaken to examine the extent to which the legal framework could be regarded as encouraging a compensation culture and placing excessive burdens on employing organisations. This paper assesses the scope of liability for workplace stress through an analysis of some of the legal claims made and evaluates whether these sorts of fears are justified.

Practical implications

These court cases are real scenarios in which various organisations faced civil action arising from workplace stress claims. The main contribution that this research makes to the existing body of literature on the subject is to discern the different contexts that led to litigation in these cases.

Social implications

Researchers have reported on the negative consequences associated with workplace stress, both for individuals and organisations (Cooper and Marshall, 1976). It has been recognised that employers have a duty, which is in many cases enforceable by law, to ensure that employees do not become ill (Michie, 2002). The aim of this paper is to analyse the legal record on litigation since 1992 and discuss how the findings inform the wider literature.

Originality/value

Workplace stress claims have been described as the “next growth area” in claims for psychiatric illness (Mullany and Handford, 1997; Elvin, 2008; Horsey and Rackley, 2009). Hugh Collins stated “owing to the limitations of the statutory compensatory scheme in the UK […] private law has been used to expand the range of protection against illness […] in the workplace” (Collins, 2003). To understand how court decisions are changing, the development of this body of law needs to be traced (Ivancevich et al., 1985).

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International Journal of Law and Management, vol. 59 no. 2
Type: Research Article
ISSN: 1754-243X

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Book part
Publication date: 3 August 2020

Abstract

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Leadership Strategies for Promoting Social Responsibility in Higher Education
Type: Book
ISBN: 978-1-83909-427-9

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Article
Publication date: 9 May 2016

Panayiotis Tahinakis and Michalis Samarinas

The purpose of this paper is to examine the incremental information content of audit opinion while considering opinion determinants, such as auditor and auditee size, or a…

Abstract

Purpose

The purpose of this paper is to examine the incremental information content of audit opinion while considering opinion determinants, such as auditor and auditee size, or a firm’s financial state.

Design/methodology/approach

A market valuation model is employed using US firm data collected over 30 years. The model relates stock returns to earnings and incorporates as additional variables auditors’ opinion types, opinion determinants and their interactions with audit expression.

Findings

The findings suggest that audit opinion has a significant market impact. The estimated positive or negative information content of the audit opinion types is associated with certain opinion determinants, such as auditor and auditee size and a firm’s financial state.

Research limitations/implications

Additional firm-year observations regarding certain opinion qualifications could benefit future research.

Practical implications

This study offers useful insights by demonstrating the importance of auditing profession to the users of financial statements. It examines investors’ perception of each audit opinion type and the conditions under which this expression has the most serious effects. The results demonstrate the role of audit opinion and its cause-effect relationship with various economic events, allowing regulators not only to track the efficiency of various audit policy changes but also act preventively and amend the regulatory framework.

Originality/value

This paper empirically supports the significance of the auditing process and audit opinions by examining investor perceptions. It employs a value relevance model, in contrast to market-based research that adopts an event study methodology.

Details

Journal of Applied Accounting Research, vol. 17 no. 2
Type: Research Article
ISSN: 0967-5426

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Article
Publication date: 1 April 1913

Inspectors visiting districts in connection with the Foreign Meat and Unsound Food Regulations have made detailed inquiries in certain instances in regard to local methods…

Abstract

Inspectors visiting districts in connection with the Foreign Meat and Unsound Food Regulations have made detailed inquiries in certain instances in regard to local methods of administration of the Sale of Food and Drugs Acts. Special visits for this purpose have also been made to other districts where inquiry appeared to be specially called for. In the course of these inquiries it was found that in some instances the public analyst had made a report to his local authority on some special investigation which had been undertaken in the district respecting a particular article of food, but that copies of such report had not always reached the Board. During an inquiry in the county of Cheshire Dr. Coutts ascertained that the county analyst had made valuable reports in regard to butter and Cheshire cheese of which the Board were unaware. Reports of this nature are of much interest to this sub‐department, and it would be of advantage if local authorities would send to the Board copies of all special reports made by the public analyst.

Details

British Food Journal, vol. 15 no. 4
Type: Research Article
ISSN: 0007-070X

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Article
Publication date: 1 December 2007

Stephen Kean and Peter Wells

Forecasting future period profitability is widely identified as an aim of financial statement analysis, and these forecasts are typically relied upon for the estimation of…

Abstract

Forecasting future period profitability is widely identified as an aim of financial statement analysis, and these forecasts are typically relied upon for the estimation of firm value. To facilitate this, the decomposition of earnings into its components or drivers, is typically advocated. This paper investigates the existence of systematic differences in persistence across the components of earnings. If components of earnings experience differences in persistence, this may provide insights into the determinants of aggregate earnings level and persistence. This paper provides evidence of differences in persistence between components of earnings. Differences are found between components formed on the basis of: financial ratios; operating and financing activities; and cash and accruals. Furthermore, there is evidence that earnings components improve the explanatory power of models evaluating aggregate earnings persistence, with this result being strongest for firms with extreme income decreasing accruals. Due to the pivotal role of earnings in firm valuation, the results from this paper have direct implications for valuation.

Details

Accounting Research Journal, vol. 20 no. 2
Type: Research Article
ISSN: 1030-9616

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