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• Development sustainability of economic entities in the modern global universe: stakeholder approach.

• The model of strategy implementation in the field of sustainable development.

• The system of key performance indicators (KPI) in the field of sustainable development.

Development sustainability of economic entities in the modern global universe: stakeholder approach.

The model of strategy implementation in the field of sustainable development.

The system of key performance indicators (KPI) in the field of sustainable development.

The purpose of this paper is to assess the suitability of the International Financial Reporting Standard for Small and Medium‐sized Entities (IFRS for SMES) for small businesses (micro entities and SMEs) in Ghana by assessing their need for the IFRS for SMEs and the appropriateness of the IFRS for SMEs as the accounting standard of choice for small businesses in Ghana. The paper also aims to investigate the firm characteristics likely to influence small businesses' need for the Standard and the appropriateness of the Standard for small businesses.

The survey method was used. A questionnaire survey of 305 small businesses was conducted, from which 149 useable questionnaires were returned.

It was found that small businesses in Ghana have limited international structures and activities which do not result in a need for internationally comparable financial reporting information. Small businesses also do not receive requests to provide such information. In total, 19 of the 27 issues addressed by the Standard and assessed in the study were found to be irrelevant to small businesses in Ghana. Size, legal form and number of owners influence the suitability of the Standard for small businesses in Ghana.

The paper provides some of the early empirical evidence on the final version of the IFRS for SMEs in Africa. The study also brings a fresh perspective by applying institutional theory to the adoption and implementation of the IFRS for SMEs.

The purpose of this article is to explore possible contributions to the development of models to define business networks conceptually, and identify and delineate them empirically by integrating concepts and ideas from “market exchange theory” originating in the works of Alderson.

Following a conceptual discussion defining business networks as a type of exchange system, empirical data were used to exemplify and illustrate the theoretical development ideas. From data on 22 business firms collected in 1999‐2001 in the form of transcribed interviews and other print documentation, a business network as a type of exchange system was identified comprising five business entities. This case serves as illustration to the remainder of the theoretical discussions throughout the paper.

Based on a conceptualisation of business networks as a type of exchange system and a notion of interaction encompassing exchange processes stemming from both market exchange theory and social exchange theory, it is suggested that business networks can be more consistently identified and delineated empirically using this theoretical base.

The empirical case is merely illustrative, and more extensive empirical work is needed to further test the ideas of business networks as a type of exchange system. The implications to the study of markets‐as‐networks are that these ideas can be used as a basis for identification, delineation and analysis of business networks.

This paper extends Alderson's work by suggesting a fourth type of transformation: transformation in ownership, as well as by developing a typology with five resource types in the exchange system. Furthermore, it provides a conceptual tool that can be used by researchers to identify, delineate and analyse business networks and incorporates market exchange theory.

Correct registration for the value-added tax (VAT) is a key aspect of tax compliance; it is vital in ensuring adequate tax revenue collection in all countries but particularly in developing countries such as South Africa. Non-registration hinders sufficient tax revenue collection, stifles economic growth and causes unfair competition with formal businesses. The purpose of this study is to determine whether changes in the VAT rate affect the registration decisions of businesses, ultimately impacting upon tax compliance behaviour and tax revenue collection.

An online 2 × 2 between-subjects field experiment was conducted, as part of a broader study, to consider compliance with registration requirements by small business entities in South Africa, specifically when there are changes in the VAT rate.

Although the study establishes that changes in the VAT rate tend not to have a significant impact on the registration decisions of such taxpayers, it nonetheless indicates that the magnitude of the change in the VAT rate may be influential on registration decisions, whether relating to compulsory or voluntary registration. More particularly, the greater the magnitude of the VAT rate decrease (increase), the more likely it is that taxpayers will register (deregister) for VAT purposes, indicating that the magnitude of changes in the VAT rate do have an impact on VAT registration decisions and therefore on tax compliance more generally.

Not only does the study add to the limited knowledge available on registration decisions of small businesses, but also gives valuable guidance to policymakers in terms of determining the VAT rate for the country.

Not only does the study add to the limited knowledge available on registration decisions of small businesses, but it also gives valuable guidance to policymakers in terms of determining the VAT rate for the country.

This paper aims to trace the evolution of nationality‐based business organisations in Malaysia and review whether national culture, as determined by the nationality‐based work values, beliefs and orientations of the owners and managers of organisations, influences the values, orientations and practices of organisations.

In‐depth literature review and “key‐informant” surveys, based on which a structured questionnaire was developed. After pre‐testing and finalisation, questionnaires were administered by fax on 1,248 Malaysian organisations selected through systematic sampling. The survey generated 376 usable responses. After testing for non‐response bias, usable responses were subjected to common factor, reliability and canonical correlation analysis.

Even though there are significant differences in how business entities (delineated on the basis of the national culture of owners and managers) organise and conduct their operations, these differences cannot be attributed to the beliefs and orientations of the owners and managers of these organisations. Significant “cultural” differences are evident across organisations owned and managed by individuals of one nationality and significant “cultural” similarities are evident across organisations owned and managed by individuals of different nationalities. Many other factors such as the legal, economic and regulatory context of the organisation influence its values, orientations and practices more profoundly than the national culture of its owners and managers.

Interfacing managers should not stereotype the values, orientations and behaviours of organisations with which they interact based on knowledge about nationality‐based beliefs, behaviours and orientations of the owners and managers of organisations.

Provides a challengingly different perspective from the conclusions in some of the most authoritative studies on nationality‐based organisational beliefs and culture.

The process of management, and the management of information as an essential element of general managerial practice, is addressed from the perspective of the manager. Information has always been a key element in the performance of a business and the effectiveness of management, and information technology can now transform the use of this information to give managers substantial benefits in business planning and decision making. It is considered that information must be integrated into an organisation′s overall management and planning system rather than being controlled by specialist IT professionals and that the manager has to be responsible for: people, their motivation and training; business systems, culture and environment; and the organisation′s data resource. The ways in which business information processes can be analysed and modelled are reviewed and it is explained that information models can enable a better understanding of the organisation by showing it in a new and sometimes enlightening way. Some of the many complex issues associated with managing the change process and achieving successful implementation of the technologies are considered.

This article provides an analysis of the economic incentives and financial reporting for Special Purpose Entities (SPEs) over the last four decades. The analysis explains economic factors motivating business use of SPEs and the origins of SPEs in lease accounting and securitization transactions. Related financial reporting standards are identified and discussed, including the historical shift from a traditional control viewpoint to a primary beneficiary viewpoint for financial reporting for consolidation for SPEs (recently renamed Variable Interest Entities (VIEs) in U.S. Financial Accounting Interpretation 46R). The article also includes illustrative journal entries explaining SPE transactions from both the viewpoint of the creating company(s) and the SPE. Actual financial reporting examples and/or journal entries for SPEs created by Bank of America, General Motors Acceptance Corporation, Lucent Technologies and Alza Pharmaceuticals Corporation are also provided.

Markets-as-networks (MAN) theorists contend, at least tacitly, the significance of business relationships to the firm – that is, business relationships contribute somewhat to corporate survival or growth. One does not deny the existence of significant business relationships but sustain, in contrast to the consensus within the MAN theory, that relationship significance should not be a self-evident assumption. For significance cannot be a taken-for-granted property of each and every one of the firm's business relationships. The authors adopt explicitly a critical realist meta-theoretical position in this conceptual paper and claim that relationship significance is an event of the business world, whose causes remain yet largely unidentified. Where the powers and liabilities of business relationships (i.e., relationship functions and dysfunctions) are put to work, inevitably under certain contingencies (namely the surrounding networks and markets), relationship effects ensue for the firm (often benefits in excess of sacrifices, i.e., relationship value) and as a consequence relationship significance is likely to be brought about. In addition, relationship significance can result from the dual impact that business relationships may have on the structure and powers and liabilities of the firm, that is, on corporate nature and scope, respectively.

Improving the commercialization of university research has become a national priority. Most existing programs focus on training and supporting faculty and students to be the entrepreneur. However, programs are also needed to train and support those who will serve the entrepreneur. This chapter asserts that professionals with specific expertise in serving entrepreneurs are a critical, yet overlooked, part of the “innovation ecosystem” necessary to commercialize university research. It provides an overview of the Entrepreneurial Law Clinic at the University of Washington, which provides a multidisciplinary teaching, research, and service platform that assists University spin-offs while developing the next generation innovation ecosystem. Bringing together law, business, and engineering students to work with tech transfer licensing officers and faculty researchers to spin off a university technology involves many challenges. Yet, it can be done and the benefits are manifold. This chapter outlines three key issues for this kind of program. First, who is the client: the tech transfer office or the faculty researcher? Second, how to mediate among the different visions for how to commercialize the technology through the spin-off – including whether the technology is ready for commercialization or needs to undergo further translational work. And third, how to ensure that all the different students are being properly supervised and that all project members are keeping appropriate confidentiality toward the technology and business plans. The chapter shows how the missteps, conflicts, and confusion that naturally arise for each team project actually provide the best teaching moments for team members, supervisors, and faculty alike.

Considering in one side, the differences between the non-profits and profits entities and, in other side, given the importance of governance to monitoring the protection of the interests of the different stakeholders, this literature review aims to identify the special features of the social economy entities and its effects in the principles and guidelines of an adequate governance model for these entities.

An important conclusion after the analysis of several frameworks is that the latest approaches place less importance on formal aspects such as the governing body roles or composition. Nowadays the concerns are increasingly focused in the best ways to adopt viable strategies and business models that will ensure survival and growth of non-profit entities.

In Portugal we identified the specificities of the Portuguese third sector that is limited to the fulfilment of the legally imposed requirements to these organizations. Regarding governance aspects, Portuguese organizations are not subject to codes of good practice or if they follow them, they are designed for the for-profit sector and do not address the main concerns of the non-profit sector.