Search results

Since the 1990s, the German current of Value Criticism has been proposing to rework a critique of capitalism based on the mature works of Marx. Starting from the primary categories of capital – value, abstract labor, commodity fetishism – they intend to overcome the traditional contradictions of Marxism, capital/labor, proletariat/bourgeoisie, etc. The Canadian thinker Moishe Postone has, independently of value criticism, developed a thought that is close to the German current while distinguishing itself on certain important points. However, it is appropriate to question these new readings of Marx which, if they can be fruitful, pose many problems, both philosophical and political.

The critical dimension and the one that can unify knowledge through systemic interrelationships, is unification of the purely a priori with the purely a posteriori parts of total reality into a congruous whole. This is a circular cause and effect interrelationship between premises. The emerging kind of world view may also be substantively called the epistemic‐ontic circular causation and continuity model of unified reality. The essence of this order is to ground philosophy of science in both the natural and social sciences, in a perpetually interactive and integrative mould of deriving, evolving and enhancing or revising change. Knowledge is then defined as the output of every such interaction. Interaction arises first from purely epistemological roots to form ontological reality. This is the passage from the a priori to the a posteriori realms in the traditions of Kant and Heidegger. Conversely, the passage from the a posteriori to a priori reality is the approach to knowledge in the natural sciences proferred by Cartesian meditations, David Hume, A.N. Whitehead and Bertrand Russell, as examples. Yet the continuity and renewal of knowledge by interaction and integration of these two premises are not rooted in the philosophy of western science. Husserl tried for it through his critique of western civilization and philosophical methods in the Crisis of Western Civilization. The unified field theory of Relativity‐Quantum physics is being tried for. A theory of everything has been imagined. Yet after all is done, scientific research program remains in a limbo. Unification of knowledge appears to be methodologically impossible in occidental philosophy of science.

The objective of this research is to explore the challenges being encountered when applying and implementing fair value accounting requirements, focusing specifically on the determination of fair value per International Financial Reporting Standards (IFRS) 13: Fair value measurement (IFRS 13) in the South African capital market.

Data are collected from 20 detailed interviews, primarily with preparers and interpretively analysed to identify how individuals internalise the requirements of IFRS 13 and the challenges associated with its application. The researchers focus specifically on South Africa because of its status as a developing economy and, at the same time, its extensive experience in applying IFRS.

South African preparers appear reluctant to change from a conventional cost-based measurement approach to one grounded in fair value. Primary concerns include the perceived usefulness of fair value accounting and its conceptual appropriateness, given its perceived de-emphasis of the traditional stewardship role of financial reporting. Related challenges to the application of IFRS 13 include concerns about the cost of determining fair value; the inherent subjectivity of fair value measures and the practical difficulty of calculating fair values when markets are not efficient or where business environments are complex and dynamic where Level 1 inputs are not widely available for all assets and liabilities. These challenges encourage preparers to choose accounting policies, which minimise the use of fair value or apply the provisions of IFRS 13 legalistically.

Data are collected from a group of respondents from a single developing economy. Additional research on the application of IFRS 13 in other developing markets will be required to conclude on the relevance of economic, cultural and social factors for the understanding and implementation of new accounting standards by practitioners.

Standard setters and regulators cannot assume that new accounting standards will be interpreted and applied as intended. Even when compliance with IFRS is mandatory, preparers have considerable discretion when it comes to operationalising accounting prescriptions. Unless the challenges raised by preparers are addressed, misapplication of IFRS is likely to continue.

The research makes an important empirical and practical contribution by providing primary evidence on the operationalisation of IFRS 13 in a novel setting. It complements earlier research which has focused primarily on the conceptual/theoretical dimension and on American and European perspectives.

The study aims to discuss the new value creation logic of value nets and analyze the characteristics of value nets in the context of the food industry. Previous research has shown that along with the growing importance of networking, the value creation logic is also changing from traditional chains to dynamic networks. The objective of this study is to define the characteristics of value nets and to analyze the suitability of the value net as a value creation and business model in the food industry.

The study utilizes a case research as a method and analyzes a value net from the Finnish food industry. The empirical data comprises 29 individual semi‐structured interviews conducted with the personnel of four case companies.

The findings of the study suggest that the value net as a business model and value creation model is also suitable for food sector companies. The value net has several characteristics that were found to be significant and useful for food companies. Moreover, food companies can obtain remarkable benefits by utilizing value nets.

The results of the study carry implications for managers and practitioners in terms of shedding light on the value net as a value creation model and business model in the food industry. Managers need to be aware of the developments in value creation logic and recognize that value can no longer be added in a sequential chain, but the perspective should move towards networks in which value is co‐created by the network actors.

Thus far, studies on value nets have concentrated mainly on the ICT sector and there is a limited amount of research on the food industry. The food sector, therefore, offers a new empirical context in which to conduct research on value nets. Food companies are focusing more and more on value creation and networking, and the research of value nets is therefore highly relevant to the business development of the food industry.

In the last two decades, risk reporting has followed a normative and calculative culture rather than the “materiality” of data. Although integrated reporting (IR) has become flooded with extra information, it does not adequately disseminate material information to stakeholders. In addition, the poor tone from the top diminishes creativity. This study aims to investigate how companies creatively address issues of the materiality of risk information in IR and how IR can be aligned with enterprise risk management.

Qualitative research was conducted via interviews with 50 chief risk officers and senior management executives in the Indian and UK insurance markets.

Overall, five institutions were observed to exhibit elements of being early adopters of institutional creativity. This confirmed the present study’s theoretical contribution of five divergent types of early adopters. The motivations for creativity are reflected in the resources available to these institutions.

To the best of the authors’ knowledge, this study provides a new insight into IR from internal mechanisms to deal with issue of materiality.

This study aims to investigate if different types of negative electronic word-of-mouth (eWOM) have various negative effects on the attitude of the consumer toward a product (Laptop) and whether this newfound attitude remains unaffected by the subsequent influence of positive eWOM.

A quantitative study in Germany was conducted. In the two-part experimental setting, first, a factorial repeated-measures between-subjects design was used in which the types of negative eWOM have been manipulated. The second part is characterized by a mixed between–within subjects design to test the durability of attitudinal changes.

The results demonstrate that destructive and ethical eWOM only provoke a small decline in consumer attitude compared to functional product criticism. Furthermore, the examination shows that renewed positive eWOM can improve the attitude, whereas ethical criticism is the most difficult to correct.

The study views negative eWOM differentiated. Researchers could adopt this approach by analyzing online communication more precisely. Ambivalent relationships between negative eWOM and their outcomes can be explained.

The findings lessen the fear of permanent loss of brand reputation caused by negative reviews. The harmful effects on the attitude can be compensated through targeted marketing management actions. The study shows which content companies need to focus on.

Previous literature has predominantly overlooked the complex nature of negative eWOM. Therefore, the study provides first empirical results about the divergent effect of different content types of negative eWOM on consumer attitude toward a product. Additionally, the durability of consumer negativity could be measured over time.

Although criticized as illegitimate, literary elements are necessary features of legal argument. In a modern liberal state, law motivates compliance by justifying controversial prescriptions as products of an appropriate process for representing the will of society. Yet because law constructs the will of individual and collective actors in representing them, its representations are necessarily figurative rather than mimetic. In evaluating law's representation of society, citizens of the liberal state are also shaping their own ends. Such self-expressive choices, subjective but non-instrumental, entail aesthetic judgment. Thus the literary elements of rhetorical figuration and aesthetic appeal are fundamental, rather than merely ornamental, to legal justification.

Value-based management and the balanced scorecard are two of the most distinguished management concepts of the past decades. The main criticism levelled at value-based management is that it is rarely applied in business practice. By contrast, the balanced scorecard is mainly criticized for its insufficient integration into corporate strategy. The two concepts are occasionally described as competing business philosophies in management theory. This chapter offers an integrative view of value-based management and the balanced scorecard. The resulting ‘value-based scorecard’ incorporates the value-based business philosophy while creating a link between the scorecard and the ‘value–added’ corporate strategy. This minimizes a multitude of other critical aspects of both concepts. In light of this, it is recommended that both management theory and business practice further interpret or use the value-based scorecard presented in this study as a tool for value-based management.

Work values and attitudes were compared for 117 African and 82 British managers and management students. It was predicted that Africans would place more importance on status, prestige and position as motivators, would be less likely to accept criticism, and rate courtesy, social approval and loyalty more favourably than British respondents. Existing scales of social approval and derived need satisfaction were modified and a third one constructed in order to obtain the measurements. The results confirmed the hypothesis relating to status, prestige, position, tentatively supported that relating to social approval, partly confirmed the hypothesis for loyalty and the results for courtesy and acceptance of criticism were not proven. These results are discussed in terms of the methodological issues associated with cross‐cultural comparisons and the implications for motivation and management activities.