Organizational Learning （OL） and Organizational Innovation （OI）： The Case of Information and Communication Technology （ICT） Industry in Malaysia

The progression through which a person acquires ,;kills, understanding, and opinions regarding a particular organization or company is called organizational learning （OL）. In this study, the connection between organizational innovation （OI） and OL within the inf3rmation and communication technology （ICT） industry in Malaysia is surveyed. These relationships are examined, because various previous inquiries have shown that an imperative precursor to firm performance is OL. Two hundred and seventy-eight surveys were completed by small and medium organizations across Malaysia. The connections existing between the causes of OL and the causes of OI were ascertained by using structural equation modeling （SEM）. Amongst the Malaysian small- and medium-sized enterprises （SMEs） that participated in fire study, OI and OL are considerably linked.     

Integration of Individualized Management Systems （MSs） as an Aggregating Factor of Sustainable Value for Organizations An Overview Through a Review of the Literature

Nowadays, there exist various standards for individual management systems （MSs）, at least, one for each stakeholder. New ones will be published. An integrated management system （IMS） aims to integrate some or all components of the business into one coherent and efficient MS. Maximizing integration is more and more a strategic priority in that it constitutes an opportunity to eliminate and/or reduce potential factors of destruction of value for the organizations and also to be more competitive and consequently promote its sustainable success. A preliminary investigation was conducted on a Portuguese industrial company which, over the years, has been adopting gradually, in whole or in part, individualized management system standards （MSSs）. A research, through a questionnaire, was performed with the objective to develop, in a real business environment, an adequate and efficient IMS-QES （quality, environment, and safety） model and to potentiate for the future a generic IMS model to integrate other MSSs. The strategy and research methods have taken into consideration the case study. It was obtained a set of relevant conclusions resulting from the statistical analyses of the responses to the survey. Globally, the investigation results, by themselves, justified and prioritized the conception of a model of development of the IMS-QES and consequent definition and validation of a structure of an IMS-QES model, to be implemented at the small- and medium-sized enterprise （SME） where the investigation was conducted.     

Measuring the Impact of Information Technology （IT） on Supply Chain Management （SCM） Through Indicators： An Exploratory Study

Enterprises are looking to adapt to this scenario focusing on performance, seeking to improve the level of service and reduce costs in an attempt to differentiate and increase the perceived value of their customers. A strong partner to achieve these goals is the information technology （IT）. IT has an important role in the performance of companies, providing a flow of information that makes the supply chain more robust and resilient, without compromising efficiency. To achieve the objective of this research, a survey of the literature on the four models was studied and then a field research with professionals was conducted in the areas of IT and supply chain management （SCM） of various companies of Sao Paulo. To collect the data needed for analysis, we used the exploratory research of a qualitative nature. Thus, we conclude that the use of IT impacts supply chain in five surveyed areas as planning, manufacturing, suppliers, customers, and delivery but does not impact the return area.     

Value Creation of Business Process Management （BPM） and Managerial Accounting System （MAS）： A Case Study

This paper explores the value creation of business process management （BPM） and managerial accounting system （MAS） using a case study. The findings show that BPM shortens the management chain and increases the connections among functions in the organization by right reassignment. Accounting indicators in MAS provide necessary information about business processes, which assists performance evaluation in BPM, and meanwhile, incentive schemes give enough motives, which guide employees to take actions in accordance with the organizational strategies and processes＇ goals. The information effect and motive effect of MAS increase employees＇ work satisfaction and their cooperation with each other. In the end, the integration of BPM and MAS improves the organizational economic performance, thus creating value for the organization. The results explain the reason why so much BPM fails in practice, because right assignment, performance evaluation system, and incentive schemes constitute organizational architecture, which is critical to organizational value. Additionally, the value creation of BPM and MAS depends on their coordination with the external environment, the internal situation, and the organizational strategy. From the view of managerial accounting perspective, MAS not only changes with the organization development but also facilitates the organization development.     

International Supply Chain Management （ISCM）： An Emergent Perspective on Internationalization Driven by Information and Communications Technology （ICT）

The focus of the article is on the contribution of the perspective of supply chain management （SCM） to the explanation of internationalization processes. The empirical study is based on case studies of 20 small- and medium-sized enterprises （SMEs） with international activities from China, India, New Zealand, and Singapore. All chosen firms were founded after 1980 in order to capture retrospectively the whole globalization process of each firm. All sample firms operate their supply chains （SCs） on the basis of information and communications technology （ICT）. Depending on size, strategy, business model, industry, and mindset of the managers, firms use ICT on a range from integrating individual functional areas to integrating the whole SC through enterprise resource planning （ERP） and customer relationship management （CRM） systems.     

Introducing Stakeholder-Based Frameworks for Post-merger Integration （PMI） Success

The importance of stakeholder relationship management for successful integration in post-merger management is not doubted. The establishment of a new powerful trend in investments produces strategic shifts in strategic management. Shareholder wealth maximization way of thinking is changing to stakeholder wealth maximization where a company＇s value management system is based not only on economic profit maximization, but also on environmental, social, and governance （ESG） maximization. There is especially a high need for a management system that can be used by mergers and acquisitions （M＆A） practitioners during integration process. There is a critical need for metrics which can trace the interests of all stakeholders, because to achieve success in integration, it is no longer acceptable for management to focus solely on the needs of one or two stakeholder groups. In this article, the authors have introduced two frameworks： sun cube and stakeholder relationship matrix. These tools can be useful in mergers and acquisitions （M＆A） process for conducting a stakeholder analysis.     

Measurement of Economic Result in Public Organizations： A Departmental Analysis

The aim of this work is to demonstrate how public university hospital （UH） managers can improve the process of decision-making by using the measurement of economic value added to the society （EVAS） generated by these organizations. Thus, the economic values of the organization and its departments were calculated, according to the theory studied： measurement model of economic result of Slomski （1996）. It was considered the conduction of a case study in a public UH, evaluating its economic performance in a 3-year period. For the interpretation of results, the Data Envelopment Analysis （DEA） which categorized the departments of the hospital studied as efficient or inefficient was used. This study revealed that managers can improve the decision-making process by using the EVAS, since it has been established that this measurement of economic value has sensitivity to identify which of the economic value drivers should be emphasized in the management.     

International Accounting Standards Board （IASB） and Financial Accounting Standards Board （FASB） Convergence Project： Where Are They Now？

The convergence project between the International Accounting Standards Board （IASB） and the Financial Accounting Standards Board （FASB） in the United States （US） was signed on September 18, 2002 in Norwalk, Connecticut in the US. The first is responsible for issuing International Financial Reporting Standards （IFRS） nowadays, which were created 40 years ago. More than one century ago, local regulations are used in the US. The boards differ in years of experience. With the signing of the agreement, both institutions are working to reduce the divergence of accounting. Although they have made a significant progress, it is appropriate to examine whether the difference in approaches to accounting will affect the achieved agreements. It is relevant to investigate whether the years leading the standards adopted in different countries will impact the final result. The date of completion of the project has been postponed and still has not indicated the date of termination. This research is an analysis of the importance of the convergence of accounting standards at a global level. The study presents statistics on the status of the adoption of international standards by country. The study shows a summary of the expressions made by the directors of both boards about the future of the project.     

Effects of Mandatory Audit Firm Rotation Upon Quality of Audit： The Perception of Audit Firms Evidence From Bahrain

The objectives of this study are： （1） to explore current audit appointment practices by audit firms in Bahrain; （2） to look into the opinions of audit firms in Bahrain on potential effects provided by implementing mandatory audit firm rotation （audit quality）; and （3） to investigate audit firms＇ views in implementing mandatory audit firm rotation in Bahrain. To achieve these objectives, a questionnaire was developed and distributed to respondents that consist of all auditors working in audit firms in Bahrain. The findings indicated that there is a significant relationship between mandatory audit firm rotation and quality of audit. The study also indicated that longer partner tenure makes the auditor＇s performance lack the quality in the auditing process. The average mean for all questions of the hypothesis together is 2.73 with average standard deviation of 0.94 which is less than half of the mean. This means that there is no dispersion among respondents about the questions of the hypothesis. Also, the analysis shows that the t-value is 29.922, which is greater than the table critical value of t （1.66）, and the p-value obtained is 0.000 which is less than the value of significance at p 〈 0.05. These results confirm statistically that there is a significant relationship, so the null hypothesis is rejected and the alternative hypothesis is accepted.     

The Terminal Value （TV） Performing in Firm Valuation： The Gap of Literature and Research Agenda

The uncertainty about the future of firms must be modeled and incorporated in the valuation of enterprises outside the explicit period of analysis, i.e., in the continuing or terminal value （TV）. There is a multiplicity of factors that influence the TV of firms which are not being considered within current evaluation models. This aspect leads to the incurring of unrecoverable errors, thus leading to values of goodwill or bad will far away from the substantial value of intrinsic assets. As a consequence, the evaluation results will be presented markedly different from market values. There is no consensus in the scientific community about the method of computation of the TV as a forecast in an infinite horizon. The size of the terminal, or non-explicit period, assumed as infinite, is never called into question by scientific literature, or the probability of business bankruptcy. This paper aims to promote a study of the existing literature on the TV, to highlight the fragility of the evaluation models of companies that have been used by the academic community and by financial analysts, and to point out lines for future research to minimize these errors.     

Political Impact of Chinese Foreign Direct Investment （FDI） in the European Union （EU）

This paper explores the political challenges posed by the recent influx of Chinese outward foreign direct investment （OFDI） into the European Union （EU）. Chinese OFDI has increased substantially in recent years. Chinese direct investment is still minute in the EU, but it is growing fast, and the strong upward trajectory is likely to continue in the years to come. This surge represents challenges and opportunities for EU countries. In the current context of economic and debt crisis in Europe, whether China is seen as a saviour or a predator, the question of a Faustian bargain made by European countries by courting and hosting Chinese investment needs to be asked. The benefits of foreign direct investment （FDI） for the host economy are well known, but Chinese OFDI may come with implicit strings attached and could potentially act as a Trojan Horse, affecting European norms and policies. The influx of Chinese OFDI can create an unhealthy transatlantic competition with security ramifications, which should therefore be addressed. It is interesting to find the right balance between ensuring the benefits from Chinese FDI （from job creation to productivity gains） and protecting from its harmful effects.     

Investor Relations （IR） in Business Communication on the Example of Poland

This paper focuses on investor relations （IR） as an element of companies＇ communication with the external environment. It shows the place and role of IR in communication with the general market, and the stock exchange market in particular. The study is illustrated with an example of IR in Poland, a relatively new European Union （EU） member state and an emerging market. As can be seen, IR goes beyond the traditionally understood maintenance of communication with the capital market. It is also shown that the main role of IR ought to be the reduction of investment risk and enhancement of the companies＇ value, which is of particular significance in light of the current globalization of capital markets. It has been found that Polish companies, especially those listed on the Warsaw Securities Exchange （WSE）, commonly rely on IR as a means of communication with the environment. And yet, as the results of the analysis show, the quality of that communication is still far from satisfactory, despite efforts undertaken by various external entities to encourage more focus on the development of IR, or understanding of the company＇s relevant staff of its important role.     

Multi-Mode Resource Constrained Project Scheduling Models for Progress and Equal Time Interval Payments

This study utilizes a time-precedence network technique to construct two models of multi-mode resource constrained project scheduling problem with discounted cash flows （MRCPSPDCF）, individually including the progress payment （PP） and the payment at an equal time interval （ETI）. The objective of each model is to maximize the net present value （NPV） for all cash flows in the project, subject to the related operational constraints. The models are characterized as NP-hard. A heuristic algorithm, coupled with two upper bound solutions, is proposed to efficiently solve the models and evaluate the heuristic algorithm performance which was not performed in past studies. The results show that the performance of proposed models and heuristic algorithm is good.     

Review of International Accounting Standards Board （IASB） Proposed New Conceptual Framework： Discussion Paper （DP/2013/1）

The International Accounting Standards Board （IASB） is one of the largest independent accounting standard setters whose publications, International Financial Reporting Standards （IFRSs）, have revolutionalized the accounting profession, investors, finance providers, and the entire accounting information stakeholder community. The conceptual frameworks are the theoretical accounting bases that are constituted by a set of principles that underlie as a bedrock foundation cornerstone for the development and updating of IFRSs. The existing conceptual frameworks were issued by IASB in 2010, after long years of protracted and wide consultation and joint project with the biggest American standard setter Financial Accounting Standards Board （FASB）. In year 2013, the IASB embarked on a solo project to update the conceptual framework and issued a discussion paper （DP/2013/1） to its users and stakeholder community for comments. The methodology used in this study of an extensive review of literature （secondary/primary） from the discussion paper, existing conceptual framework, and comment letters from investors, accounting, insurance, and international audit firms has been manipulated. The findings revealed that the existing conceptual framework has opposing objectives especially that of decision usefulness （future-oriented information） and concepts of ＂prudence and stewardship/accountability＂, which are deeply embedded within the framework as subsumed, but their prominence has been overshadowed and watered down by not identifying them as objectives. The finding also revealed that almost all public accounting and audit firms are advocating not only for the reinstatement of the ＂prudence and stewardship/accountability＂ but also for a clear definition of recognition, de-recognition, and measurement of statement of financial position elements （assets and liabilities） and also elements of the comprehensive income statement （revenues and expenses）, which have seriously compromised investors, p     

Does Big 4 Affect the Earnings Response Coefficient （ERC）？ Evidence From Malaysia

This study examines the effect of audit quality （AQ） on the earnings response coefficient （ERC） based on a sample of 1,884 firm-year observations comprising 471 firms listed on the Bursa Malaysia from 2007 to 2010. This study tests whether AQ affects ERC after controlling the established determinants of ERC： beta, growth, earnings persistence, and size. Using reverse regression, the study confirms that Big 4 is significant and positive to ERC. Auditor switching from non-Big 4 to Big 4 indicates the same results; however, the switching of auditors among Big 4 is not significant. The study thus provides systematic and comprehensive additional evidence on the effect of AQ via the measurement of Big 4; and auditor switching from non-Big 4 to Big 4 and switching among Big 4 on ERC. This is an important contribution to the literature but especially so given that the evidence comes from Malaysia, an emerging economy, whereas the existing empirical literature relates mainly to the developed countries.     

Exploring the Usefulness of Extensible Business Reporting Language （XBRL） for Reporting Intellectual Capital （IC）： Evidence From Italian Preparers

Intellectual capital disclosure （ICD） has experienced a substantial increase in recent decades and many frameworks and guidelines have been issued to provide directions with regard to what constitutes ＂good＂ ICD. Companies can use Extensible Business Reporting Language （XBRL） to ＂build＂ their own intellectual capital （IC） reports. This digital format has both technical and operating characteristics suitable for reporting non-financial information. This paper reports the findings of a survey of the views of 37 Italian preparers on the scope, the taxonomy, and the assurance of IC reporting via XBRL. It was found that respondents favor the adoption of an IC reporting framework and the standardization of IC indicators. Preferences reveal uncertainty about the level of flexibility for tagging IC information, while supporting the main benefits of XBRL and indicating a marked inclination for tagged information certified by an independent audit. Overall, despite a low awareness of XBRL, the importance placed on standardization of IC information and on the usefulness of the comparability and the speed attribute of XBRL supports the appealing features of this language for developing IC reporting.     

The Role of Comprehensive Income as Financial Performance Predictor： Panel Evidence From Italy

The aim of this study is to investigate whether the comprehensive income （CI） and its individual components are useful in assessing the future cash flows for Italian listed companies. In addition, we verify whether the recent requirement of International Accounting Standard （IAS） 1 （r2011） of providing the other comprehensive income （OCI） separates in two sub-totals （recycling and non-recycling items groups） is useful to explain the expected cash flows. We consider a sample of 121 Italian non-financial companies listed on the Italian Stock Exchange for the testing period of 2008-2011, employing a fixed-effect regression model, and we test the relationship between the changes in the variables considered and not the relative absolute value reducing, in this way, the risk of not grasping a report if the independent variable and the response variable do not have the same sign. Our results stress that CI and the two new sub-aggregates are not relevant to explain future cash flows, while net income （NI） and OC1 as a whole seem to be more relevant to make explicit the future financial position. The study contributes, as a sort of post-implementation review, to the current debate on the ability of Cl to predict the future cash flows and on the real usefulness of the CI and the sub-aggregate identified by the IAS 1 revised as well.     

Prediction Ability of Cash Flows,Net Income （NI）, and Auditors

The accounting information should help investors and creditors evaluate the amounts, timing, and uncertainty of firms＇ future cash receipts and disbursements. The Financial Accounting Standards Board （FASB） contends that accrual-based historical earnings are superior to cash flows in predicting future cash flows. But, Bowen, Burgstahler, and Daley （1986） showed that traditional measures of cash flows （net income （NI） plus depreciation and working capital from operations） appear to be better predictors of future cash flows than accrual accounting earnings. Since then, many researchers have articulated the importance of accounting data, especially cash flows and NI, in the predictive and forecasting processes. In this study, we empirically re-examined the ability of cash flows from operating activities （CFO） and accrual-based NI in predicting firms＇ bankruptcy. In the past, the results of this type of research were mixed. Differently from previous research, we focus on the timing of predictive ability, i.e., which indicator, cash flows or NI, is faster in predicting a firm＇s bankruptcy. We also investigate the timing of auditors＇ issuance of a going-concern opinion. The preliminary results show that the accrual-based NI is more accurate and faster than either CFO or audit opinion in predicting firms＇ failures. On average, NI signals a firm＇s bankruptcy 2.41 years before the bankruptcy filing, while CFO signals 1.48 years before filing. Auditors issued a going-concern opinion, another signal for firms＇ failure, to only 16 out of 41 bankrupt firms one year before bankruptcy, and no auditor issued the going-concern opinion two years before bankruptcy.     

From Consolidation to Segment Reporting in Local Government： Accountability Needs,Accounting Standards,and the Effect on Decision-Makers

Consolidated Financial Statements （CFSs） in the public sector represent useful financial tools to improve transparency and accountability toward internal and external users. This aggregate view is only a part of the information needed in order to give politicians, managers, employees, financial institutions, rating agencies, and citizens a whole view of a local government＇s financial performance. It emerges the need to have segment information, covering specific policy areas for which it is appropriate to separately report financial and non-financial information. This paper, after having discussed the need for accountability and decision-making in a theoretical framework, gives account of a pilot project realized by the municipality of Reggio Emilia, which introduced CFSs and segment reporting. The empirical study is based on an action research as a methodological approach to solving practical problems. Finally, the paper also offers some practical suggestions to contribute to the applicability of the segment reporting in the public sector.     

Performance on the 2011 Certified Public Accountant （CPA） Examination for Large,Middle, and Small Historically Black Colleges and Universities （HBCUs）

There are over 100 historically black colleges and universities （HBCUs） in the United States. The majority of these HBCUs are located in the southeast section of the United States. HBCUs are a major supplier of certified public accountants （CPAs） to the profession. Therefore, the performance of candidates from HBCUs should be of interest to various constituents including educators, employers, parents, students, and other stakeholders. The purpose of this paper is to provide statistical performance on the 2011 CPA examination for large, middle, and small HBCUs based upon the number of testing events taken. Taking a testing event is not the same as passing a testing event. This was the dichotomy between quantity and quality of HBCUs＇ performances. For large HBCUs, Morehouse University, North Carolina Agricultural and Technical State University （NC A＆T）, and Tennessee State University （TSU） were cited. For middle HBCUs, Albany State University, Norfolk State University （NSU）, and North Carolina Central University （NCCU） were cited. For small HBCUs, Alcorn State University, Fisk University, and University of Maryland Eastern Shore （UMES） were cited. The dichotomy between quantity and quality is real.