The estimation of union wage differentials and the impact of methodological choices

This paper demonstrates that methodological differences can matter a lot in the estimation of union/non-union wage differentials. Using individual-level data from the 1991 Wave of the British Household Panel Survey and a model evolved from replicating six existing British studies, we find that the model specification adopted has an important impact on the estimated differential and that the choice of which group means to use when evaluating the mean differential in multi-equation models is of considerable importance. There are also important differences between membership and coverage differentials and the earnings measure used and sample selected also make a difference. However, apart from firm size, the contents of the control vector used is not found to be of great importance.     

The New Zealand Dairy Board: A Case of Group-Internalization or a Monopolistic Anomaly in a Deregulated Free Market Economy

This paper examines the New Zealand dairy industry and in particular the pivotal role of the New Zealand Dairy Board which, historically, has had sole responsibility for the international marketing of dairy industry output. The structure of the dairy industry is examined identifying the links between the dairy cooperatives and the Board using the concepts of the ownership, location, internalization (OLI) paradigm and alliance capitalism. The paper concludes that the structure of the New Zealand dairy industry and the New Zealand Dairy Board, more closely resembles the network structures of alliance capitalism, rather than being a monopolistic anomaly in a hierarchical capitalist system.     

Accounting for People: A real step forward or more a case of wishing and hoping?

In principle, the Accounting for People initiative announced by the UK government in January 2003 held out the possibility of a real step forward in promoting the interests of employees. Despite its distinctly managerialist discourse, the initiative acknowledged that having now recognised that ‘people are our greatest asset’, employers should begin to consider how to report on their people management activities in financial statements. After more than three and a half years of consultation, debate and deliberation, larger UK quoted companies are now charged with providing only a minimal level of general information on their employees. Whatever promise may have been evident to wishful thinkers in the early months of the initiative, this outcome confirms that there is little possibility for progressively ‘accounting for people’ as long as such practices are shaped by powerful sectional interests. The purpose of this paper is to subject the initiative to critical scrutiny. The paper seeks to document how the Accounting for People initiative was quickly and effectively emasculated as a consequence of the power and influence wielded by the UK accountancy profession, identified as a key agent of capital. Additionally, attention is drawn to a number of contemporary developments, largely and perhaps knowingly ignored in the course of the Accounting for People debate, that may yet inform and energise a more radical approach to accounting for people.     

Intra-provincial inequalities and economic growth in China

This paper approaches the problem of inequalities in China. It is specifically focused on analyzing the effects of intra-provincial disparities on the development of the 28 mainland provinces in China. Intra-provincial inequalities, as measured by the Theil index, seem positively related to growth, albeit the results are only convincing for the coastal provinces. A case-by-case analysis, however, suggests highly diversified patterns, including linear or an inverted U-shape for the fastest growing coastal provinces and virtually no relationship for the majority of regions. The results corroborate some questions raised earlier about actual policy-making standards in China.     

Fish consumption: efficacy among fishermen of a brochure developed for pregnant women

The risk to human consumers from contaminants in fish is often dealt with by issuing consumption advisories, or in some cases, information brochures. Normally advisories and brochures are developed and tested with anglers. We examine the efficacy of a fish consumption brochure that was developed for pregnant women on people engaged in fishing in the Newark Bay Complex. The brochures were in English and Spanish, and subjects could read and be interviewed in either language. Of the 151 people interviewed, 32% were women, 58% spoke only English, 22% spoke mainly Spanish and the rest felt comfortable with both languages. There were no differences in the percent that were present as a function of preferred language. There were significant differences in the understanding of the brochure, depending upon preferred language (and the language of the brochure). In general, anglers preferring Spanish and who read the brochure in Spanish obtained fewer of the messages correctly than those who preferred English (seven of seven questions). There were also gender differences in efficacy of the brochures; a higher percentage of female anglers thought that the fish were not safe to eat from the port and thought that eating contaminated fish from the port could harm their baby. Although the correct message was obtained by 34–100% of the anglers, depending upon the question, and 60–75% of the anglers believed the pamphlet, only 16% (Spanish‐speaking) to 47% (Bilingual) planned on changing the species of fish they eat or the method of cooking. These data suggest that a pamphlet designed for pregnant women is useful for anglers, and they can obtain the ‘correct’ message from it. However, a relatively small percentage of subjects were persuaded to change their cooking or consumption behavior. In addition to television, subjects felt that the direct approach of distributing brochures face‐to‐face was an important method of communication of fish consumers.     

Role of self-caught fish in total fish consumption rates for recreational fishermen: average consumption for some species exceeds allowable intake

Studies of fish consumption focus on recreational or subsistence fishing, on awareness and adherence to advisories, consumption patterns, and contaminants in fish. Yet the general public obtains their fish from commercial sources. In this paper I examine fish consumption patterns of recreational fishermen in New Jersey to determine: (1) consumption rates for self-caught fish and for other fish, (2) meals consumed per year, (3) average meal size, and average daily intake of mercury, and (4) variations in these parameters for commonly-consumed fish, and different methods of computing intake. Over 300 people were interviewed at fishing sites and fishing clubs along the New Jersey shore. Consumption patterns of anglers varied by species of fish. From 2 to 90% of the anglers ate the different fish species, and between 9 and 75% gave fish away to family or friends. Self-caught fish made up 7–92% of fish diets depending upon species. On average, self-caught fish were eaten for only 2–6?months of the year, whereas other fish (commercial or restaurant) were eaten up to 10?months a year. Anglers consumed from 5 to 36 meals of different fish a year, which resulted in intake of mercury ranging from 0.01 to 0.22?μg/kg/day. Average intake of Mako shark, swordfish, and tuna (sushi, canned tuna, self-caught tuna) exceeded the US Environmental Protection Agency’s oral, chronic reference dose for mercury of 0.1?μg/kg/day. However, computing intake using consumption for the highest month results in average mercury intake exceeding the reference dose for striped bass and bluefish as well. These data, and the variability in consumption patterns, have implications for risk assessors, risk managers, and health professionals.     

Selenium:mercury molar ratios in fish from the Savannah River: implications for risk management

The risk to humans from contaminants in fish is dealt with by issuing consumption advisories, which are devised from consumption patterns, contaminant levels, and toxicity of those contaminants. The primary contaminant of concern in fish is mercury, and recently it has been suggested that the protective effects of selenium on mercury toxicity should be considered in risk management. The relationships between mercury, fish species and fish size, and selenium:mercury (Se:Hg) molar ratios were examined for freshwater fish from the Savannah River. The data indicated: (1) significant variation in Se:Hg molar ratios among and within species, (2) mean selenium molar ratios for the 11 species were negatively correlated with mean mercury levels and mean fish length, (3) greater variation in individual variances within species than the variation in mean ratios among species, (4) some species with high mean ratios had individuals with ratios below 1, and (5) even the species with the highest mean ratios had some individuals close to a molar ratio of one. These data suggest that the great variability of the Se:Hg molar ratios within a species results in the ratios being unpredictable. That is, knowing the mean Se:Hg molar ratio for a given species does not predict the ratios of individuals, or thus the protectiveness of selenium on mercury toxicity.     

The determinants of audit fees—evidence from the voluntary sector

Given the growing demand for accountability in the public sector, there is a need to begin to investigate audit pricing issues in this sector. This study makes three contributions. First, it develops and estimates, for the first time, a model of audit fee determinants for the charity sector. As in previous private sector company studies, size, organisational complexity and audit firm location are the major determinants. A positive association between audit fees and fees for non-audit services is also observed. Charity sector factors of empirical significance include the nature of the charity (i.e., grant-making or fund-raising), its area of activity and the importance of trading income. Separate models for grant-making and fund-raising charities reflect the relative complexity of the audit of fund-raising charities. Second, the lower auditor concentration in the charity sector market, compared to the private sector market, permits a more powerful test of whether large firms and/or auditor expertise are rewarded with a fee premium. In the more complex audit environment of fund-raising charities, the results show that Big Six audit firms receive higher audit fees (18.5%, on average) than non-Big Six firms. Also, non-Big Six audit firms with charity expertise are rewarded with a fee premium over other non-Big Six firms. Finally, the study demonstrates that the charity audit fee rate is significantly lower than that of private sector companies; in fact it is approximately half. A change in the reporting of charity audit fees is proposed to reflect any element of ‘charitable giving’ by the audit firm.     

The governance of agro- and pharmaceutical biotechnology innovation: Public policy and industrial strategy

Multinational companies in the life science sector are heavily influenced by government policies and regulations and in turn attempt to influence these actors nationally and internationally. This paper focuses on recent and on-going research, principally on the agro-biotechnology and, to a lesser extent, on the pharmaceutical industries, covering the evolution of policy and regulation in Europe, how policies are influenced by stakeholder pressures and how policy in turn influences company strategies for product development. We focus particularly on new ‘governance’ agendas in Europe and consider the relative impacts of enabling, constraining, discriminating and indiscriminate policies on company strategies as part of our development of an integrated approach to policy and governance. We also consider changes in external operating environments for multinational companies and compare past histories and present pressures on agro-biotechnology and pharmaceutical companies. The paper argues, with evidence, that a more enabling and discriminating policy and regulatory environment can achieve public goals more efficiently and effectively, taking account of impacts on innovation, than more blunt policy instruments. This type of environment takes into account the resources and capabilities available to firms and research laboratories rather than relying on broad brush carrot and stick approaches.     

Relative Value Relevance of Alternative Accounting Treatments for Unrealized Gains: Implications for the IASB

We investigate the relative value relevance of the alternative accounting methods for unrealized gains on investment properties in New Zealand (NZ). Using both the Likelihood‐ratio test and the F‐test, we find that, while preferred by the NZ standard setter, recognition of unrealized gains in the income statement is not superior to (or significantly different from) recognition of unrealized gains in revaluation reserve in terms of their value relevance. The results are robust to the different research methods we used. Our results have implications for the International Accounting Standards Board in terms of: (i) recognizing changes in fair values of investment properties in the income statement under the revised IAS 40: Investment Property in countries where “realization” refers to net income available for distribution; (ii) its intent to issue a standard on a single statement of comprehensive income; and (iii) its initiative to reduce or eliminate alternative accounting treatments for similar fact situations in its standards.