Interventionist research in accounting: reflections on the good,the bad and the ugly

Our paper advances understanding of interventionist research (IVR) as a qualitative accounting research approach. It reflects on the potential value, challenges and key issues, as manifested by the good, the bad and the ugly. The reflection contributes towards clarifying the IVR landscape, thereby forging a future path for IVR as a legitimate qualitative methodology, to enthuse qualitative researchers to produce accounting research relevant to theory, practice and society. The primary contribution is synthesising the interventionist theory and practice literature encompassing a view of the good, the bad and the ugly in interventionist accounting research.     

Open-mindedness in diverse team performance: investigating a three-way interaction

Studies have shown that open-minded dynamics contribute to diverse team effectiveness; however, there are few studies on the factors that influence the impact of open-mindedness. Survey data from 218 members of 47 professionally diverse teams support a significant relationship between open-mindedness and performance. Professional identification and professional salience were found to moderate the relationship with opposing effects. The study data indicate that although open-mindedness provides a context that facilitates the open exchange and discussion of diverse ideas and perspectives in interprofessional teams, this is less influential when members strongly identify with their profession. Conversely, member focus on professional differences enhances the value of team interaction characterised by receptiveness and openness. Analysis confirms a three-way interaction between open-mindedness, professional identification and salience on performance.     

Bubbles or convenience yields? A theoretical explanation with evidence from technology company equity carve-outs

This paper offers an alternative explanation for what is typically referred to as an asset pricing bubble. We develop a model that formalizes the Cochrane (2002) convenience yield theory of technology company stocks to explain why a rational agent would buy an “overpriced” security. Agents have a desire to trade but short-sale restrictions and other frictions limit their trading strategies and enable prices of two similar securities to be different. Thus, divergent prices for similar securities can be sustained in a rational expectations equilibrium. The paper also provides empirical support for the model using a sample of 1996–2000 equity carve-outs.     

Reflecting on Teacher Development in Technology Education: Implications for Future Programmes

This paper reflects on the outcomes of teacher professional development programmes in technology education. These programmes were based on a model which emphasised the importance of teachers developing an understanding of both technological practice and technology education. Two different programmes have been developed and trialed in the New Zealand context. They are the Facilitator Training programme, and the Technology Teacher Development Resource Package programme. This paper will focus on the outcomes of these programmes. The Facilitator Training programme was a year long programme, and ran in 1995 and 1996. It involved training a total of 30 educators – 15 each year, from all over New Zealand. The Resource Package was trialed in 14 schools over a 3–6 month period in 1996. The evaluations indicate the successful nature of these programmes and the usefulness of the model as a basis for the development of teacher professional development in technology education. The programmes reported on in this paper were developed and evaluated as part of two New Zealand Ministry of Education contracts held by the Centre for Science, Mathematics and Technology Education Research. This revised version was published online in August 2006 with corrections to the Cover Date.     

Economic Disequilibria and Rural Financial Market Performance in Developing Economies

Rural financial markets and agricultural lenders performed poorly in the past decade in most less developed countries (LDCs). Many observers have emphasized the need for institutional and financial reforms to ensure more efficient and equitable results. This includes improved loan evaluation, monitoring and recovery procedures. It also includes flexible interest rale policies to allow lenders to cover lending costs, and create more incentives for mobilizing savings. While these are often necessary reforms they may not be sufficient to guarantee success. The authors argue that widespread economic disequilibria in many LDCs also cause poor performance of rural financial markets. Using a simple model, the authors show how disequilibria in the product, factor and financial markets of the economy are transmitted to rural financial markets through their impact on farm output, profits, debt and savings capacity, and debt service and amortization. Empirical data is drawn from a case study in Jamaica where inflation and trade deficits severely affected farm activity. The authors conclude that institutional and interest rate reforms are necessary. However. price, wage, exchange rate and foreign trade reforms are also needed to lessen the penalization of agriculture, which will, in turn, improve the functioning of rural financial markets. Les marches financiers ruraux el les organismes bailleurs de fonds n'ont pas été performants ces dix dernieres années dans la plupari des pays en voie de développement (PVDj. Beaucoup d'observaleurs onl mis l'accent sur la nécessité de réformes institutionnellcs et financieres, ce qui permetlrait des résullals plus efficaces et plus justes. Ces réformes comprennent l'amélioration dans l'évaluation des prêts et dans les opérations de contrôle el de recouvrement, des politiques de laux d'intérét flexibles pour permetlre aux bailleurs de fonds de reacupèrer le coût des préts, enfin une incitation plus grande pour mobiliser l'épargne. Bien que souvenl necessaires, ces réformes peuvent s'averer insujfisanles a assurer le réussite. Des auteurs affirment que le déséquilibre économique généralisé dans beaucoup de P VD entraîne également la mauvaise performance des marchés financiers ruraux. Ulilisant un modele simple, les auteurs montrent comment un déséquUibre produil /facteur / marché financier de l'économie se transmet aux marchés financiers ruraux par I'impact qu'il a sur la production agricole, les profits, la capacite à l'endetlemenl et a l'épargne, le service de denes el l'amortissemenl. On tire des données empiriques du cas que présenle la Jamaïque où inflation et déficits commerciaux affecterent sérieusement le secteur agricole. Les auteurs concluent en disanl que dés réformes des institutions et du laux d'intêr'et sonl nécessaires. Toutefois, des réformes en matîere de prix, salaires, laux d'échange et commerce extérieur son! essentielles pour éviter que l'agricullure ne soil si lourdement pénalisee; ceci ameliorerait I'efficacit'e des marchés ruraux financiers.     

Neighborhood effects of concentrated mortgage foreclosures

As the national mortgage crisis has worsened, an increasing number of communities are facing declining housing prices and high rates of foreclosure. Central to the call for government intervention in this crisis is the claim that foreclosures not only hurt those who are losing their homes to foreclosure, but also harm neighbors by reducing the value of nearby properties and in turn, reducing local governments’ tax bases. The extent to which foreclosures do in fact drive down neighboring property values has become a crucial question for policy-makers. In this paper, we use a unique dataset on property sales and foreclosure filings in New York City from 2000 to 2005 to identify the effects of foreclosure starts on housing prices in the surrounding neighborhood. Regression results suggest that above some threshold, proximity to properties in foreclosure is associated with lower sales prices. The magnitude of the price discount increases with the number of properties in foreclosure, but not in a linear relationship.     

Marketing extends beyond humans

This comment seeks to answer the following question. Is marketing - as most marketing textbooks define the term - something that is limited to humans, or do other non-human species also engage in marketing? To answer this question this comment reviews literature on animal behavior which suggests that at least some non-human animals do engage in exchange processes in order to mutually satisfy needs and wants. This comment therefore concludes that marketing is an activity that extends beyond humans to other members of the animal kingdom.