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The benefits of board diversity are often categorized into five distinct business rationales: talent rationale, market rationale, litigation rationale, employee relations rationale and governance rationale. However, if resource dependency theory’s focus on the director’s ability to secure important resources for the firm is considered, social capital as a viable additional rationale for board diversity can also be considered. The purpose of this paper is to argue that diverse members of the board are likely to have social capital that differs from non-diverse members of the board. Consequently, that diverse social capital can bridge the board to new resources for advice and counsel, legitimacy, channels for communication and access to important external elements, thus making a strong argument to be included as a rationale for board diversity.

It is intended to provide a conceptual discussion on whether enhancing the board’s social capital is perhaps a viable and overlooked rationale for board diversity.

Consistent with the other five rationales for board diversity, this analysis suggests that social capital should be considered as a sixth rationale for board diversity. Social capital serves a role in governance and rises to the standard of other rationales for board diversity.

Boards may not recognize that social capital is a strategic resource and sufficiently diverse groups such as women and minorities may be more likely to contribute non-overlapping social capital networks, which may translate into greater external influence and thus additional resources for the firm. This paper may help to influence the viewpoints of directors on who is valuable as a board member.

Existing board diversity rationales do not include social capital as a primary rationale for board diversity. It may be possible that social capital becomes a legitimate sixth rationale for board diversity.

Standards are normative specifications for the steering of education policy and practice. They aim to clarify educational objectives, means and practice, by giving a shape to the worlds of education. They raise criticisms of oversimplification often splitting the discussion in unnecessary oppositions between pro and con standardisation. To escape from a fruitless antagonism, this chapter proposes the concept of waves of standardisation. Standards are essential characteristics of any organisation, including schools. Historically, standardisation of education increases with the emergence of modernity, and in particular with the unfolding and consolidation of mass schooling. Since then, however, waves of standardisation develop into diverse political scenarios and are oriented by different rationales. More than a standard world of education, a world of standards sustained by several circuits of expertise where competing logics of justifications are embedded in various political rationalities is illustrated.

This paper introduces the special issue “Rebuilding trust: Sustainability and non-financial reporting, and the European Union regulation”. Inspired by the studies published in the special issue, this study aims to examine the concept of accountability within the context of the European Union (EU) Directive on non-financial disclosure (hereafter the EU Directive) to offer a critique and a novel perspective for future research into mandatory non-financial reporting (NFR) and to advance future practice and policy.

The authors review the papers published in this special issue and other contemporary studies on the topic of NFR and the EU Directive.

Accountability is a fundamental concept for building trust in the corporate reporting context and emerges as a common topic linking contemporary studies on the EU Directive. While the EU Directive acknowledges the role of accountability in the reporting practice, this study argues that regulation and practice on NFR needs to move away from an accounting-based conception of accountability to promote accountability-based accounting practices (Dillard and Vinnari, 2019). By analysing the links between trust, accountability and accounting and reporting, the authors claim the need to examine and rethink the inscription of interests into non-financial information (NFI) and its materiality. Hence, this study encourages research and practice to broaden mandatory NFR practice over the traditional boundaries of accountability, reporting and formal accounting systems.

Considering the challenges posed by the COVID-19 crisis, this study calls for further research to investigate the dialogical accountability underpinning NFR in practice to avoid the trap of focusing on accounting changes regardless of accountability. The authors advocate that what is needed is more timely NFI that develops a dialogue between companies, investors, national regulators, the EU and civil society, not more untimely standalone reporting that has most likely lost its relevance and materiality by the time it is issued to users.

By highlighting accountability issues in the context of mandatory NFR and its linkages with trust, this study lays out a case for moving the focus of research and practice from accounting-based regulations towards accountability-driven accounting change.

Discusses the use of criteria in assessment of undergraduate dissertations. Illustrates how criteria can integrate both analytical and global quality measures of students’ work. Drawing from an analysis of assessments of an undergraduate dissertation argues that criteria need to be debated periodically if consistency is to be maintained. Highlights the importance of clear assessment procedures and emphasises that these procedures need not constrain lecturers. Concludes with discussion of implications for good practice in assessment. Appendices provide an example of an assessment procedure and criteria.

This chapter explores how the principles of retribution and deterrence were framed and thus used to justify capital punishment in the early years of the Republic, and how the purposes for capital punishment have changed in the past two centuries. We ask several related questions: (1) Has our understanding of the morality and utility of retributive justice changed so dramatically that the historical argument tying justification for capital punishment to the past now ought to carry less weight? (2) Have our perspectives on the purposes for capital punishment changed in ways that now might call the entire experiment into question? and (3) What, in short, can we say about the historical similarities between arguments concerning retribution and deterrence at the Founding and those same arguments today?As is often true of common law principles, the reasons for the rule are less sure and less uniform than the rule itself. (Justice Marshall's majority opinion in Ford v. Wainwright, 477 U.S. 399 (1986))

This paper aims to analyze the present trends in pharmaceutical innovation and the impact of generic competition.

A secondary research was conducted to collect data related to new drug approvals of various classes over previous years; trends of investment in research and development; and the pipeline of new drug products of pharmaceutical companies.

While the new molecular entity (NME) approval rate has not improved over previous years, innovators have been aggressively pursuing the radical innovation process. Further, there has been a significant increase in incremental innovation. Pharmaceutical companies' investment in research has gone up resulting in higher number of application for new drug approvals. In India, pharmaceutical companies have significantly increased their research investment. However, the NME pipeline is still slim though there has been a significant surge in generic filings.

It provides a concise understanding of trends in pharmaceutical innovation and analyzes how various factors are shaping up the innovation process. It also throws light on the evolution story of Indian pharmaceutical companies to become drug innovators.

The purpose of this paper is to investigate how a substantial organization gradually builds a management accounting system from scratch, changing its accounting routines by learning processes. The paper uses the experiential learning theory and the concept of learning style to investigate the learning process during management accounting change. The study aims to expand the domain of management accounting change theory to emphasize the learning-related aspects that can constitute it.

The paper provides an interpretation of management accounting change based on the model of problem management proposed by Kolb (1983) and the theory of experiential learning (Kolb, 1976, 1984). The study is based on a 14-year longitudinal case study (1994‐2007). The case examined can be considered a theory illustration case. Data were obtained from a broad variety of sources including interviews, document analysis and adopting an interventionist approach during the redesign of the costing system.

The paper contributes to two important aspects of management accounting change. First, it becomes apparent that the costing information change was not a discrete event but a process of experience and learning conducted through several iterations of trial-and-error loops that extended over the years. Second, the findings reveal that the learning process can alter management accounting system design in a radical or incremental way according to the learning style of the people involved in the process of change.

Because of the adopted research approach, results could be extended only to other organizations presenting similar characteristics. Several further areas of research are suggested by the findings of this paper. In particular, it would be of interest to investigate the links between learning styles and communication and its effect on management accounting change.

The paper includes implications for the management of learning during management accounting change, to improve the efficiency and effectiveness of this process.

This paper is one response to the call for an interdisciplinary research approach to the management accounting change phenomena using a “method theory” taken from the discipline of management to provide an explanation of the change in management accounting. In respect of the previous literature, it provides two main contributions, namely, the proposal of a model useful both to interpret and manage learning processes; the effect of learning style on management accounting routines change.

Discusses how, from 1919 the ILO (International Labour Organization) has been meeting the call for labour market deregulation with the plea that “labour is not a commodity” and that treating it as such can only result in ‐ and exacerbate ‐ social injustice. On its re‐entry into the international community, South Africa has plunged head on into the global debate on the subject: should it “deregulate” its labour market in order to achieve “international competitiveness”? Would deregulation create employment? Argues against labour market deregulation in South Africa. Posits that new markets in which the country can be internationally competitive have yet to become apparent and that it would be inappropriate, in light of the country’s economic and human resource base, to cheapen labour in the search for that market. Concludes that such a move in South Africa would widen the incomes gap, subsidize labour inefficiency and undermine long‐term productivity gains. While the “low road” to international competitiveness might yield short‐term results, it is urged that the long‐term social costs would be too high. In sum, argues that labour market policy should place more attention on improvement of human resources and labour market institutions and on the broadening of domestic and regional markets.

In this paper we consider the effects of certain capital market imperfections on portfolio choice problems. We show that as a result of these imperfections, the distribution functions of rates of return may depend on portfolio allocation, thus leading to non‐convexities and consequently to patterns of specialisation rather than diversification.