On the ‘Review of Structure and Effectiveness of the IFRS Foundation’: the EAA’s Financial Reporting Standards Committee’s View

In July 2015 the International Financial Reporting Standards (IFRS) Foundation launched its third five year review of its structure and effectiveness of the organisation. In a public call, the Trustees solicited stakeholders’ input on the relevance of IFRS Standards with respect to broadening the IFRS scope and to the impact of new technology, on the consistent application of IFRS and on the governance and funding of the International Accounting Standards Board and the IFRS Foundation. The European Accounting Association (EAA)’s Financial Reporting Standards Committee responded to this request for views by submitting a comment letter based on research-informed opinions. This article provides an overview of this Review of Structure and Effectiveness of the IFRS Foundation and the EAA’s opinions in response to this Review.     

Corporate Ethics Practices in the Mid-1990's: An Empirical Study of the Fortune 1000

This empirical study of Fortune 1000 firms assesses the degree to which those firms have adopted various practices associated with corporate ethics programs. The study examines the following aspects of formalized corporate ethics activity: ethics-oriented policy statements; formalization of management responsibilities for ethics; free-standing ethics offices; ethics and compliance telephone reporting/advice systems; top management and departmental involvement in ethics activities; usage of ethics training and other ethics awareness activities; investigatory functions; and evaluation of ethics program activities. Results show a high degree of corporate adoption of ethics policies, but wide variability in the extent to which these policies are implemented by various supporting structures and managerial activities. In effect, the vast majority of firms have committed to the low cost, possibly symbolic side of ethics management (e.g., adoption of ethics codes and policies, etc.). But firms differ substantially in their efforts to see that those policies or codes actually are put into practice.     

On dichotomous choice contingent valuation data analysis: Semiparametric methods and Genetic Programming

The aim of this paper is twofold. Firstly, we introduce a novel semiparametric technique called Genetic Programming to estimate and explain the willingness to pay to maintain environmental conditions of a specific natural park in Spain. To the authors’ knowledge, this is the first time in which Genetic Programming is employed in contingent valuation. Secondly, we investigate the existence of bias due to the functional rigidity of the traditional parametric techniques commonly employed in a contingent valuation problem. We applied standard parametric methods (logit and probit) and compared with results obtained using semiparametric methods (a proportional hazard model and a genetic program). The parametric and semiparametric methods give similar results in terms of the variables finally chosen in the model. Therefore, the results confirm the internal validity of our contingent valuation exercise.     

About Gender Differences and the Social Environment in the Development of Entrepreneurial Intentions

This study analyzes the interplay between gender differences and the social environment in the formation of entrepreneurial intentions. Data were obtained from two different European regions. The results show that the formation of entrepreneurial intentions is similar for men and women. At the same time, men consistently exhibit more favorable intentions than women do. Nevertheless, the perception of the social legitimation of entrepreneurship only serves to reinforce male entrepreneurial intentions, and not those of women. This holds for both regions and probably is a consequence of women feeling entrepreneurship to not be an acceptable career option for them. The implications of these results are discussed.     

Driving under the influence of alcohol in Cali,Colombia: prevalence and consumption patterns, 2013

This study's goal was to establish the prevalence of driving under the influence of alcohol (DUI) and alcohol consumption patterns among drivers in Cali, Colombia, in 2013. A cross-sectional study based on a roadside survey using a stratified and multi-stage sampling design was developed. Thirty-two sites were chosen randomly for the selection of drivers who were then tested for blood alcohol concentration (BAC) and asked to participate in the survey. The prevalence of DUI was 0.88% (95% confidence intervals [95% CI] 0.26%–1.49%) with a lower prevalence when BAC was increasing. In addition, a higher prevalence was found during non-typical checkpoint hours (1.28, 95% CI ?0.001%–0.03%). The overall prevalence is considered high, given the low alcohol consumption and vehicles per capita. Prevention measures are needed to reduce DUI during non-typical checkpoints and ongoing studies are required to monitor the trends and enable the assessment of interventions.     

Market entry of firms with different legal forms: an empirical test of the influence of institutional factors

Drawing upon institutional theory we develop a conceptual model and investigate the determinants of market entry for worker cooperatives, publicly traded and limited-liability companies. Our results show that formal institutional conditions (i.e., mercantile legislation) influence the start-up choice of entrepreneurs regarding the legal form of their new venture. In addition, we take into account the influence of informal institutional conditions (i.e., local corporate culture) on the market entry rate of firms with different legal structures. Findings show that, while market entry is sensitive to the general economic climate, entry rates of firms with a different legal structure respond differently to the same economic conditions.

(De-)Stabilizing two-country macroeconomic interactions in an estimated model of the U.S. and the Euro Area

In this paper a semi-structural macroeconomic model based on gradually adjusting wages and prices and hybrid, cross-over inflation expectation formation is analyzed and estimated with aggregate data of the U.S. and the Euro Area. Besides comparing, among other things, the determinants of the wage- and price inflation dynamics in both economies, the role of different macroeconomic transmission channels for the stability of the two-country system is investigated.     

From sending to host societies: immigration in Greece,Ireland and Spain in the 21st century

In a relatively short period of time, new immigration patterns have changed the geography of immigration of the EU15, bringing three old emigration countries, Ireland, Spain and Greece, to the forefront of the new immigration wave. This article studies the analogies and differences of the recent immigration experience of this group of countries, focusing on the demographic characteristics of the immigrants (origin, sex, gender and education), labour market insertion (wages, labour market segregation and quality of matching) and overall economic performance in terms of poverty rates.     

EXPERIMENTAL AND SELF‐REPORTED MEASURES OF RISK TAKING AND DIGIT RATIO (2D:4D): EVIDENCE FROM A LARGE,SYSTEMATIC STUDY

We systematically investigate the links between the digit ratio (2D:4D)—a biomarker for prenatal testosterone exposure—and two measures of individual risk taking: (i) risk preferences (RP) over lotteries with real monetary incentives and (ii) self‐reported risk attitude (RA). We find that both the right‐hand and the left‐hand digit ratio are significantly associated with RP: Subjects with lower digit ratios tend to choose riskier lotteries. Neither digit ratio, however, is associated with self‐reported RA.     

Oil prices and economic activity: evidence for G-7 economies based on a wavelet approach

This study examines the relationship between oil prices and economic activity in the G-7 economies during the period 1960M1–2014M07 using a wavelet approach. The results show significant differences in the relationship between these two variables depending on the frequencies. Furthermore, we find that oil price shocks affect economic activity at low frequencies (long run) in all G-7 countries, while the effect at high frequencies (short run) is limited to a few countries.