International trade of GMO-related agricultural products

This paper examines the international trade of a variety of genetically modified (GM) food products over a 27-year period (1984–2011) with data from the United Nations using the tools of social network analysis. The results indicate that each of the different crops have a distinctive pattern of trade that has changed over time due to a number of different factors. Also, trade in agricultural commodities became more diversified over time, dominated less by the United States and other nations central in the trade networks and trade in the individual GM crops was stable over time. Countries maintained their trading partners for specific crops, despite the adoption of the genetically modified varieties. The economic implications of these results are discussed for specific countries.     

‘Real without being concrete’: the ontology of public concern and its significance for the Social Amplification of Risk Framework (SARF)

Abstract

Public concern is a pivotal notion in the risk perception, communication and management literature. It is, for example, a central concept with regard to the social amplification of risk, and as a justification for policy attention. Despite its ubiquity, the notion of public concern remains a ‘black box’ presenting a poorly understood state of affairs as a reified matter-of-fact. Paying attention to the deployment and metrics of public concern, and the work it is required to do, will enhance the power of approaches to understanding risk, and policymaking. Thus, the broad purpose of this paper is to unpack the notion of public concern by adopting an ontological yet critical perspective, drawing on a range of literature that considers ontology. We reflect on how publics and public concern have been conceptualised with regard to the dichotomies of individual/social and private/public, given that they imply different levels and dimensions of concern. We draw on empirical work that illuminates the assessment and measurement of public concern and how the public have responded to risk events. Considering public concern through an ontological lens affords a means of drawing renewed critical attention to objects that might otherwise appear finished or ready-made.     

The Demand for Money for EMU: a Flexible Functional Form Approach

Monetary aggregates have a special role under the “two pillar strategy” of the ECB. Hence, a theoretically consistent measure of monetary aggregates for the European Monetary Union (EMU) is needed. This paper analyzes aggregation over monetary assets for the EMU. We aggregate over the monetary services for the eleven EMU (EMU-11) countries, which include Estonia, Finland, France, Germany, Ireland, Italy, Luxembourg, Malta, Netherlands, Slovakia, and Slovenia. We adopt the Divisia monetary aggregation approach, which is consistent with index number theory and microeconomic aggregation theory. The result is a multilateral Divisia monetary aggregate, in accordance with Barnett (J Econ 136(2):457–482, 2007). The multilateral Divisia monetary aggregate for the EMU-11 is found to be more informative and a better signal of economic trends than the corresponding simple sum aggregate. We then analyze substitutability among monetary assets for the EMU-11 within the framework of a representative consumer’s utility function, using Barnett’s (J Bus Econ Stat 1:7–23, 1983) locally flexible functional form, the minflex Laurent indirect utility function. The analysis of elasticities with respect to the asset’s user-cost prices shows that: (i) transaction balances and deposits with agreed maturity are income elastic and (ii) the monetary assets are not good substitutes for each other within the EMU-11. Simple sum monetary aggregation assumes that component assets are perfect substitutes. Hence simple sum aggregation distorts measurement of the monetary aggregate. The ECB provides Divisia monetary aggregates to the Governing Council at its meetings, but not to the public. Our European Divisia monetary aggregates will be expanded and refined, in collaboration with Wenjuan Chen at the Humboldt University of Berlin, to a complete EMU Divisia monetary aggregates database to be supplied to the public by the Center for Financial Stability in New York City.     

Balance sheet conservatism and audit reporting conservatism

Financial reports are prepared on a going‐concern (GC) basis rather than a liquidation basis even when companies are highly distressed. This allows distressed companies to report book values of assets that greatly exceed their liquidation values, implying a lack of conservatism in the balance sheet. We argue that auditors issue going‐concern opinions in order to warn investors about this lack of balance sheet conservatism. This argument leads to two testable hypotheses. First, for companies that are at risk of bankruptcy, auditors are more likely to issue GC opinions when the book values of assets under the GC assumption are high relative to the expected liquidation values of assets (i.e., when the GC assumption causes the balance sheet to lack conservatism). Second, for companies that enter bankruptcy, the issuance of a prior GC opinion has predictive information content with respect to the wedge between the book values of assets and the future liquidation values of those same assets. Our results strongly support both hypotheses. The findings are important because they indicate that conservative audit reporting helps to compensate for a lack of conservatism in the balance sheet, which arises because the GC assumption permits the book values of assets to exceed their liquidation values.     

Corporate hyperlink network relationships in global corporate social responsibility system

This study analyzed the hyperlink (co-link) network structure among companies in global Corporate Social Responsibility (CSR) system. This study measured network variables such as density and centrality, including degree centrality, eigenvector centrality, closeness, and betweenness. The results indicated that European companies had relatively central roles in the global CSR system. In addition the higher performing companies are more active their CSR practices. Also, the results revealed that the industrial type of companies was not significantly associated with its CSR practices.     

Social Media in Union Communications: An International Study with UNI Global Union Affiliates

This article assesses the use of social media in union communications based on an international survey with 149 unions affiliated with UNI Global Union. High expectations of union modernization, leadership and pressures from members are likely to drive the agenda of social media within unions. However, the actual use of different channels is based on organizational variables such as membership base and participation in communities of practice. Beliefs about the anticipated benefits and risks of social media were not found to be influential in these early assessments. Implications for union communication strategies are discussed.     

Perceptions of the Ethical Work Climate and Covenantal Relationships

Employees perception of the existence of a covenantal relationship between themselves and their employer indicates that they believe there is a mutual commitment to shared values and the welfare of the other party in the relationship. Research suggests that these types of employment relationships have positive benefits for both employees and employers. There has been little research, however, on the factors that determine whether such relationships will develop and thrive.In this paper, we suggest that the organizations ethical work climate may be an important factor affecting employees perceptions about the nature of the relational contract between themselves and their employer. Specifically, we argue that work climates emphasizing benevolence and principle will be associated with covenantal relationships. Conversely, we believe that work climates emphasizing egoism will make it less likely that covenantal relationships will develop between an employer and employee.In order to test our hypotheses, we collected data from 194 employees of a large retail department store. The employees perceived their work climates in terms of principle (laws and professional codes) and benevolence, but to a lesser extent also believed that egoism (self interest) concerns characterized their climate. After controlling for demographic and job-related variables, we found (as expected) that measures of principled and benevolence climate were positively associated with covenantal relationships and that a measure of egoistic climate was negatively associated with covenantal relationships. In the final section of the paper, we discuss the implications of these findings for research and practice.     

A collective,undifferentiated accounting profession: an Australian study

A study of 386 potential and current members of the accounting profession in Australia and South‐East Asia provides evidence of the importance of three attributes – brand/reputation, international recognition of qualifications and career opportunities – in the decision to join a professional accounting body. While these attributes are important, logit regression models indicate that they are not discriminatory in the choice of professional body and suggest a perception of a collective, undifferentiated accounting profession. The marketing of brand/reputation and membership benefits may be a more efficient and effective strategy in attracting members and differentiating the profession if undertaken by a combined or coordinated professional body.     

Do acquirers disclose good news or withhold bad news when they finance their acquisitions using equity?

Companies that use their own stock to finance acquisitions have incentives to increase their market values prior to the acquisition. This study examines whether such companies mislead investors by issuing overly optimistic forecasts of future earnings (“deception by commission”) or by withholding bad news about future earnings (“deception by omission”). We compare the management forecasts of acquiring firms in a pre-acquisition period (days −90 to −30 before the acquisition announcement) and a post-acquisition period (days +30 to +90 after the acquisition is completed). We show that, when acquisitions are financed using stock, companies are not more likely to issue overly optimistic earnings forecasts during the pre-acquisition period compared with the post-acquisition period. However, these same acquirers are more likely to withhold impending bad news about future earnings. Consistent with litigation having an asymmetric effect on disclosure incentives, our findings suggest that deception by omission occurs more often than deception by commission.     

New development: All change? Performance assessment regimes in UK local government

Contrasting approaches to assessing the performance of public services highlight important issues for policy-makers and future research. We need systematic comparisons between countries. We should use a broader range of evidence. The public ought to have a greater role in designing performance criteria, and we need to know more about the impacts of assessments.