Accounting for control and trust building in interfirm transactional relationships

This paper theorises the accounting-control-trust nexus in interfirm transactional relationships. In the context of such relationships, accounting has predominantly been conceptualised as a control technology. However, in our paper we analyse stable and durable relationships as being the results of interaction between control and trust building. Such an analysis calls for an additional conceptualisation of accounting as a trust building technology. Furthermore, we explain the interaction between accounting for control and accounting for trust building in the context of a process of embedded agency.     

IPOs and long-term relationships: an advantage of book building

There is a global trend in initial public offerings toward theincreased use of book building. Relative to other methods suchas auctions, a key feature of book building is that the underwriterhas total discretion in allocating shares, allowing allocationsto be based on long-term relationships between underwritersand investors. In a multiperiod model with endogenous (and costly)information acquisition. I show that the underwriter's abilityto lower underpricing depends largely on its ability to favorregular uninformed investors. One implication is that the hybridbook building/open offer method, which is becoming increasinglypopular internationally, will lead to higher underpricing thanstraight book building.     

Supply chain risk: empirical research in the automotive industry

Supply chain risk management (SCRM) has become a popular topic over the past decade. It is not a surprise that the automotive industry has been a motivating arena for research within this field; however, the few existing empirical studies reveal that SCRM practices within this industry are still in their infancy. Because the identification of risks can be viewed as the trigger for SCRM, attempts to develop a risk profile for this industry that could serve as a guide to start the SCRM process are needed. This research identifies the main risks along the automotive supply chain by investigating their manifestation in three supply chains in Brazil and offers an initial risk profile for the Brazilian automotive industry. Although the importance of SCRM has been recognised by all analysed companies, the research findings underline the lack of preparedness regarding either identifying risk or considering risk-mitigation strategies and risk assessment. In this context, this study identifies the main risk in which a supply chain can be exposed, through the analysis of real-life manifested risks along different supply chains, as a way to help the supply chain start a SCRM process.     

Walking the talk? Supply chain accounting and trust among UK supermarkets and suppliers

This paper examines the way in which calculative practices are implicated in the constitution of trust in the UK retail sector. In the sector, where trust receives much attention in declarations of intent, the notion of category management – a framework for orchestrating collaborative buyer–supplier relations based on dualistic modes of information exchange – has become widely adopted. Drawing on Giddens’ conceptualization of trust in abstract systems, it is argued that regimes of calculative practices embedded in the category management framework played an integral role in constituting system trust in category management and enabled its rapid diffusion across the sector. However, modes of supply chain accounting can also be deployed as a mechanism to further particular interests behind a veil of talk about trust. This paper presents a longitudinal field study where management accounting practices pursued under the banner of category management operated to dissemble a variety of self-interested actions and trust was deployed largely as a discursive resource which ultimately resulted in distrust and cynicism. This paper presents a framework for conceptualizing the relationship between accounting and inter-organizational trust and provides insights into the way that accounting techniques such as open booking accounting and joint performance management introduced amid ‘trust talk’ can act to undermine trust in buyer–supplier relations.     

Internal liquidity risk,financial bullwhip effects,and corporate bond yield spreads: Supply chain perspectives

This study explores internal liquidity risk (ILR) and financial bullwhip effects on corporate bond yield spreads along supply chain counterparties by employing American market data from year 1997 to 2008. This study finds that the ILRs of suppliers and customers positively affect a firm’s bond yield spreads and the effects of customers’ ILRs are greater. This research also finds a financial bullwhip effect that the ILR effect becomes greater upwardly along the supply chain counterparties. The results are robust when controlling for well-known spread determinant variables.     

楼价是印出来的吗？

自8月1日起,审计署已组织全国审计机关对政府性债务进行“全面审计”。
　　自改革开放至今,在中国,从来没有任何一个历史时期,资产价格产生过如此之大的经济隐患,而且目前似乎任何地方任何省市（包括金融系统）,都无法给我们一个比较具体、比较精确、比较可信的数据--闹了半天,原来谁都不知道,我国地方债的规模,到底有多大？     

Global challenges

Powerful possibilities offered by modern science and technology are increasingly being tested for their ecological suitability. Cultural and ethical concerns are beginning critically to affect the development and use of technology. The regular character of a synergy required to evaluate scientific-technological progress points to the appearance of a new technological paradigm which is based on intelligence. The new paradigm can already be recognized in general trends. At the same time it is both visionary and normative, since it promotes the search for adequate answers to the global challenges with which we are faced.     

Value-at-risk vs. building block regulation in banking

Existing regulatory capital requirements are often criticized for only being loosely linked to the economic risk of the banks' assets. In view of the attempts of international regulators to introduce more risk sensitive capital requirements, we theoretically examine the effect of specific regulatory capital requirements on the risk-taking behavior of banks. More precisely, we develop a continuous time framework where the banks' choice of asset risk is endogenously determined. We compare regulation based on the Basel I building block approach to value-at-risk or ‘internal model’-based capital requirements with respect to risk taking behavior, deposit insurance liability, and shareholder value. The main findings are: (i) value-at-risk-based capital regulation creates a stronger incentive to reduce asset risk when banks are solvent, (ii) solvent banks that reduce their asset risk reduce the current value of the deposit insurance liability significantly, (iii) under value-at-risk regulation the risk reduction behavior of banks is less sensitive to changes in their investment opportunity set, and (iv) banks' equityholders can benefit from risk-based capital requirements.     

X.25链路阻塞与LAPB参数调整

一、X.25数据通信规程概述 X.25数据通信规程是国际电信联盟的建议标准,它用分组格式传输和交换数据的规程,定义了数据终端设备(DTE)和数据电路终端接收设备(DCE)之间的接口标准.数据通过基于分组网络交换技术的X.25协议被分组,并在分组交换网上进行传输.X.25网络设备分为DTE、DCE及PSE(分组交换设备).     

巨额热钱“烤”验中国

由于人民币的强烈升值预期,大量热钱披着合法的外衣涌入国内,它们直接“混入”国际收支平衡表的经常或资本与金融项目下,这已超出了“错误和遗漏”项目的“管辖”范围,使热钱具有很强的隐蔽性     

Self-reflexive challenges of integrative futures

Contrasts the approach to “futures” characteristic of Ken Wilber, and Integral Futures, with the approach taken by David Lorimer, and the Scientific and Medical Network. The differences between these approaches, for any integrative understanding of futures, are presented as arising from stylistic preferences and biases which are usefully highlighted with a range of metaphors. These however highlight the challenge of any more integrative understanding, especially in the light of hidden dynamics of exclusion in a questionable effort to demonstrate that one approach is “better” than another in a complex human endeavour—especially when the future is sensed strategically through other metaphors than “vision”. Consideration is given to the possible use of a pattern language to address such issues, especially given questions regarding the adequacy of text on a conventional surface to hold complex significance and interrelationships. It is concluded that integrative futures is then the strange quest for how cognitively to embody the extremes represented by Wilber and Lorimer in the present—to evoke the greater harmony through engaging creatively with the dissonant pattern of imperfections.     

Three challenges for public finance

Conclusions There is one common thread that runs through all three of these challenges. It is a plea to look beyond the standard model of taxation in which it is assumed that the taxed goods directly enter into individuals' utility functions or firms' production functions. At a very basic level this assumption is incorrect because what is taxed is what the taxpayer reports or the tax agency observes, not what the taxpayer consumes or the firm uses and produces. Thus we must analyze tax systems in which the compliance and enforcement elements are explicit.This focus is especially important for international taxation issues because of the difficulty of taxing nonresidents' income and the foreign-source income of domestic residents. It is inevitable that tax systems are designed with these practical difficulties in mind, and, in order to participate fully in the policy debates, economists ought to think carefully about these issues.The distinction may also hold the key to making sense of the empirical evidence about the impact of the U. S. tax changes of the 1980s. There are many avenues of response to tax rate changes other than changing one's consumption bundle or input mix; we need to think hard about whether these responses preclude or merely accompany the real responses that are of ultimate interest.If public finance is to decline in the 1990s, it will not be because of a lack of intellectually exciting challenges that confront us. There are many such challenges, and I am confident that they will attract the attention of both newly minted and well circulated economists.     

New challenges for futures studies

Challenges coming from futures studies to other disciplines because of the rapidity and inter-relatedness of changes for which no discipline on its own can face the different correlated and global challenges, will be examined mainly in relation to social sciences. social sciences on the other hand reflect the need to overcome fragmentation within each discipline and between the various social sciences, in an effort at least of interdisciplinarity to face the growing uncertainty in decision making at every level: local, national and international. Social sciences are also slowly realising that a future oriented perspective is needed to empower analysis and actually reflect society in its continuous dynamicity. Citizens need the possibility to live within the rapidity of changes in the Information Society through the availability of futures studies in different forms as well as social analysis that is dynamic and interdisciplinary. The special link between society and ecological issues in a future oriented perspective will be the specific area to express the relevancy of the correlation between futures studies and social sciences.     

价值链视角下的保险连锁营销模式研究

保险连锁营销模式是金融领域的一次重大创新。本文从价值链理论出发,分析了保险连锁营销模式的本质特征、运作特点,深入探讨了连锁营销网络如何整合保险企业资源,推动保险企业的流程优化和组织再造,指出连锁营销模式有利于实现保险企业的价值创造。     

创新管理 跃升嬗变——工行河南省洛阳分行实行税务集中管理的实践与成效

近几年来,工行洛阳分行认真贯彻落实总行应税事务管理政策,不断深化税务管理理念,大胆改革创新,推行税务集中,完善纳税制度,优化纳税流程,规范纳税行为,降低税务成本,努力防范风险,提高管理水平。经过三年来的努力,应税管理成效逐年显现。2005年,被河南省政府评为“诚信纳税单位”：2007年、2008年,连续两年被洛阳市国税地税两系统联合评为“A级纳税人”,《洛阳日报》对此进行了诚信纳税形象宣传。     

老树著新花 市场竞风流——工行江苏省如东县桥茶支行员工职业价值体现侧记

人到（过）中年,他们并不因激烈的市场竞争和沉重的工作压力而使进取意志衰退,相反,他们因此而变得更加充满信心．倍增积极向上的勇气,永争第一的霸气,舍我其谁的胆气!很好地提升了中年员工的职业价值。     

做好加减法促进消费信贷业务实现新突破

近两年,工行河北省秦皇岛分行把发展消费信贷业务纳入经营战略地位,紧紧抓住城镇化建设带来的历史机遇,加大市场拓展力度,加快经营转型步伐,着力提升核心竞争力、可持续发展能力及风险控制能力,一举夺得余额和增量占比双第一的大行地位,实现消费信贷业务的新跨越,为打造区域强行奠定了坚实的基础。2008年末,消费贷款余额同业占比为44．78％,增量同业占比为219％,