Retraction Note: Analyzing of innovations influence on economic growth by fuzzy system

Quality & Quantity - The Editor-in-Chief has retracted this article (Mladenovi? et al. 2017) because validity of the content of this article cannot be verified. This article showed...     

Accounting Problems in Infrastructure Asset Valuation and Depreciation in New South Wales Local Government

The aim of this paper is twofold: (i) to investigate whether New South Wales (NSW) local government councils comply with Australian Accounting Standards in accounting for revaluation of their infrastructure assets and (ii) to assess any consequences for the reliability of financial reporting in NSW local government. Using road assets as an example, we analyse the results of revaluations of road assets undertaken by 89 NSW councils as reported in their financial statements during the period 2013 to 2016. In this analysis we focus on the effect of a change in accumulated depreciation and impairment loss component of fair value as a percentage of the gross replacement cost of the revalued assets. The analysis reveals that in most cases this effect is significant. However, the accounting and reporting of this effect is strikingly inconsistent between the councils. Based on a critical analysis of the accounting framework and disclosure of the revaluation effects, we conclude that the main reason for the change in the fair value of assets is altered estimates of remaining useful life. Furthermore, we argue that councils did not comply with the requirements of AASB 116 in determining the useful life of the assets.     

DYNAMIC COHERENT ACCEPTABILITY INDICES AND THEIR APPLICATIONS TO FINANCE

In this paper, we present a theoretical framework for studying coherent acceptability indices (CAIs) in a dynamic setup. We study dynamic CAIs (DCAIs) and dynamic coherent risk measures (DCRMs), and we establish a duality between them. We derive a representation theorem for DCRMs in terms of a so‐called dynamically consistent sequence of sets of probability measures. Based on these results, we give a specific construction of DCAIs. We also provide examples of DCAIs, both abstract and also some that generalize selected classical financial measures of portfolio performance.     

Accelerated Multi-Organization Conflict Resolution

In this paper, we discuss two situations where two organizations with different aims recognized the dysfunctionality of their relationship. In each of these cases, which were long running (6–8 months), the organizations had worked hard to resolve this dysfunctionality, and conflict, by organizing off-site meetings designed to resolve the conflict. These 1-day meetings failed. Subsequently Group Support System workshops were used for 1 day workshops and in each case the conflict was essentially resolved within 55 min. The research reported in this paper seeks to answer the question: what happened in these cases that led to a resolution of the conflict in such a short time period, given other attempts had failed? Specifically the paper explores the impact of the GSS used to facilitate two organizations seeking to resolve a conflictual situation.     

Foreign IPO capital market choice: Understanding the institutional fit of corporate governance

While product market choices have been central to strategy formulation for firms in the past, the integration of financial markets makes the choice of capital markets an equally important strategic decision. We advance a comparative institutional perspective to explain capital market choice by firms making an IPO in a foreign market. We find that internal governance characteristics (founder‐CEO, executive incentives, and board independence) and external network characteristics (prestigious underwriters, degree of venture capitalist syndication, and board interlocks) are significant predictors of foreign capital market choice by foreign IPO firms. Our results suggest foreign IPO firms select a host market where the firms' governance characteristics and third party affiliations fit the host market's institutional environment. Copyright © 2012 John Wiley & Sons, Ltd.     

Strategic and institutional effects on foreign IPO performance: Examining the impact of country of origin,corporate governance,and host country effects

Integrating signaling and institutional perspectives, we develop and test hypotheses relating institutions and corporate governance to foreign IPO success. Our investigation highlights the importance of three important drivers of foreign IPO success: home country legal institutions, corporate governance, and host capital market choice. This research demonstrates that board independence and country of origin effects are powerful signals. However, these factors do not have a universal impact on foreign IPO success. Instead, the value of home country institutions along with corporate governance signals are contingent upon the institutional environment in which international entrepreneurs choose to seek capital resources.     

Brands in the Basque gun making industry: The case of ASTRA-Unceta y Cía

Abstract

Basque gun making was an exception in early twentieth-century Spanish industry due to its high proportion of exports. The intense growth of handgun production during those years resulted from several factors such as Spanish patent law, the revolution in transport and communications, the electrification of manufacturing and the organisation of the sector as an industrial district. This article aims to analyse the role that brands played in this success, employing not only quantitative information but also the correspondence of one of the most important manufacturers of that time. Beyond counterfeiting, Basque gun making showed extraordinary marketing performance in which branding strategies were decisive for its success.     

Cost-System Choice and Incentives—Traditional vs. Activity-Based Costing

We incorporate information and managerial incentives into the analysis of a common cost-management tool—activity-based costing (ABC). We study the choice of a costing system in a firm where the owners contract with a manager to use either a traditional or an ABC system and make production decisions. We show that, as commonly argued in managerial-accounting literature, in a first-best setting with no informational asymmetries the ABC system is always preferred to the traditional costing one. However, when the firm's manager has relevant private information, the owners' choice of a costing system is not as clear. We demonstrate that the firm earns higher expected profits under the ABC system when the uncertainty about the manager's private information is high. Conversely, the firm's expected profit is higher under the traditional costing system when the uncertainty surrounding the manager's private information is low because the gross benefits of better information provided by ABC are exceeded by the additional informational rents the owners must pay the manager under this system. Our results provide a formal explanation of the coexistence of traditional and ABC systems in practice.     

Machine Control – A Design and Technology Discipline in Israel's Senior High Schools

This paper presents a concept of the Machine Control discipline developed through the past decade as part of the technological education reform in Israel. The discipline has been widely implemented in senior high schools as an optional matriculation subject. Principles, contents, experience, evaluation and challenges of the curriculum are discussed. Specific features of the discipline in rural, technological and general school environments are presented and illustrated by examples. Arguments in support of a cross-national comparison of specific technology programs are given. This revised version was published online in July 2006 with corrections to the Cover Date.     

Techno-economic case study on dedicated RAN for an intelligent transportation system: impact of the legislation-driven costs

Intelligent Transportation Systems (ITS) aim at improving daily travel experience. There are many promising communication technologies that could provide some ITS services. So far they have been predominantly evaluated from the technical point of view. This paper contributes a techno-economic evaluation of a case study on dedicated Radio Access Network (RAN) for public ITS. We analyze, calculate and compare Capital (CapEx) and Operational Expenditures (OpEx) for four different ITS-enabling wireless technologies: Ultra High Frequency standard, Wi-Fi 802.11n, Dedicated Short Range Communications (DSRC) 802.11p and LTE. This paper expands our results from Grigoryev et al. (2015). Here, we discuss in more details RAN planning and generalize legislation-driven cost influence on CapEx for DSRC and LTE deployments.