The ongoing coronavirus pandemic crisis as well as demographic and climate change pose major challenges for public finances. This article deals with the implications of demographic trends in Switzerland, i.e. the progressive ageing of the population and its impact on the country’s public finances in the long run. As the analysis shows, the brunt of the demographic burden is borne by the old-age pension scheme, health and long-term care. This article also addresses the financial ramifications of the COVID-19 crisis and shows the need for economic policy action over the longer term to ensure the sustainability of public finances in Switzerland. Furthermore, a qualitative assessment of climate change is included, as it constitutes an additional major long-term challenge for public finances.
Journal of Business Ethics - By synthesizing the argumentation theory of new rhetoric with research on heuristics and motivated reasoning, we develop a conceptual view of argumentation based on... 相似文献
As recently stakeholders complain about the use of conflict minerals in consumer products that are often invisible to them in final products, firms across industries implement conflict mineral management practices. Conflict minerals are those, whose systemic exploitation and trade contribute to human right violations in the country of extraction and surrounding areas. Particularly, supply chain managers in the Western world are challenged taking reasonable steps to identify and prevent risks associated with these resources due to the globally dispersed nature of supply chains and the opacity of the origin of commodities. Supply chain due diligence (SCDD) represents a holistic concept to proactively manage supply chains reducing the likelihood of the use of conflict minerals effectively. Based on an exploratory study with 27 semi-structured interviews within five European industries, we provide insights into patterns of implementation, key motivational factors, barriers and enablers, and impacts of SCDD in mineral supply chains. Our results contribute to both theory and practice as we provide first insights to SCDD practices and make recommendations for an industry-wide implementation of SCDD. Altogether, this study provides the basis for future theory testing research in the context of SCDD and conflict mineral management. 相似文献
Collaboration between public sector organizations is typically understood as a response to complexity. Agencies collaborate in order to address complex, cross-cutting policy needs that cannot be met individually. However, when organizational size is a constraining factor in public service efficiency, collaboration can also reduce costs by capturing scale economies unavailable to organizations of sub-optimal size. Using organization theory, the article conceptualizes these two different triggers for public sector collaboration, and builds a framework for tracing their wider impact upon the formation, operation, and outcome of inter-agency partnerships. The framework is illustrated, and its implications for future research are explored. 相似文献
Recent theoretical and empirical studies suggest that blockholders (shareholders with ownership ≥ 5 percent) exert governance through the threat of exit. Blockholders have strong incentives to gather private information and sell their shares when managers are perceived to underperform. To prevent blockholders from selling their shares and the firm from suffering a stock price decline, managers align their actions with the interests of shareholders. As a result of the greater manager‐shareholder alignment, managers' actions are more likely to be in shareholders' best interest, and consequently there is less need for managers to manipulate earnings. Consistent with these predictions from economic theory, we find evidence that as exit threat increases, firms have higher financial reporting quality. Theory also predicts that the impact of blockholders' exit threat on financial reporting quality (FRQ) should increase as the manager's wealth is tied more closely to the stock price, and this is what we find. Our study contributes to the research on the impact of shareholders on FRQ and to an emerging literature on the impact of blockholders in financial markets. Blockholders play an important role in managers' reporting outcomes through their actions as informed investors. 相似文献
We extend research on the effects of local audit office characteristics on audit quality by investigating whether audit offices in highly religious U.S. Metropolitan Statistical Areas (MSAs) exhibit going concern decisions that reflect heightened professional skepticism relative to audit offices in less religious MSAs. Prior research links religiosity to risk aversion and ethical development and suggests audit practice offices in more religious MSAs are more likely to issue going concern opinions because they will assess the effects of mitigating factors in a more skeptical manner. Our results indicate that audit practice offices located in highly religious MSAs are more likely to issue going concern audit opinions, consistent with a more skeptical assessment of mitigating factors. Additional tests provide direct evidence consistent with the argument that these audit offices are more risk averse in issuing going concern opinions. Our findings are relevant to auditors, audit clients, researchers, and regulators. 相似文献
Drawing on previous findings from the field of brand personality research and employer branding, this paper aims to explore the symbolic attributes of the retail industry image in South Africa and to identify those personality traits that distinguish preferred industries from the retail industry. The research provides a contemporary overview of the current image of the retail industry in South Africa from the perspective of young university students and allows retailers to strengthen their joint communication effort accordingly. Therefore, a quantitative survey study with 1426 participants from five South African universities was conducted. Participants assessed personality characteristics of the retail industry as well as their most preferred industry. The main results suggest that retail and non-retail students hold different personality perceptions of the retail industry and that prior retail involvement accounts for this difference to some extent. Moreover, the analysis shows that retailing performs significantly worse on those personality attributes that are of major importance for future job seekers. Additionally, the study identifies those attributes that exert a strong effect on students’ preferences for the retail industry. The findings provide useful communication themes for educational institutions, retail companies, and industry associations in order to foster positive personality perceptions associated with the retail industry. 相似文献
We examine the market reaction to charitable pledges by individual blockholders of public firms. As this philanthropy may signal a weakening preference for wealth maximization and may be indicative of distraction or relaxed monitoring, these agency costs may overwhelm any reputation benefits. We find decreased firm value and lower pay-for-performance sensitivity, the effects of which are most severe where monitoring needs are high, the blockholder is a director, or when the firm has ex ante high corporate social responsibility ratings. Our results are robust to controlling for prior charitable foundation involvement, busy director–blockholders, dual-class share structures, blockholder exit, and pre-pledge firm sentiment. 相似文献
Who does the law treat as a “consumer” and why does it matter? How should China’s notion of a “consumer” best be articulated within the law and applied in practice? This article will attempt to answer these intriguing questions by first focusing on the approach taken to define a “consumer” in China’s Law on the Protection of Consumer Rights and Interests before examining the legal notion of a “consumer” in comparative perspective, in order to further understand the competing rationales behind the consumer protection law. This article will explore this Chinese definition of a “consumer” to propose how China’s vague and unworkable statutory definition of a ‘consumer’ should be amended in future.
Drawing on systems theory, we conducted a moderated meta‐analysis of the training and organisational performance relationship using 119 primary studies. We examined the moderating effects of quality versus quantity of training, time, institutional and organisational context factors in the relationship between training and organisational performance. Our findings reveal that training is positively and directly related to organisational performance with no statistically significant difference between measures of training quality and quantity. We found that the relationship was stronger over time and that country performance orientation and country labour cost moderate the training and organisational performance relationship. We found no evidence for the moderating effects of the three organisational context moderators we examined (i.e. industry sector, organisational size and technology intensity). Finally, our results reveal that training type (i.e. general or firm‐specific) does not moderate the training and organisational performance relationship. 相似文献