A commentary on issues relating to the enforcement of International Financial Reporting Standards in the EU

Abstract

The adoption of International Financial Reporting Standards (IFRS) is supported in many countries because it may improve the quality and international comparability of financial reporting. However, these goals are less likely to be achieved without regulatory oversight that promotes rigorous and consistent use of IFRS. Consequently the European Union (EU) is requiring all member states to introduce enforcement bodies by 2005, the date of IFRS adoption in the consolidated financial statements of all EU listed companies. We review ongoing activities in France, Germany, the Netherlands and the UK in setting up and modifying enforcement bodies before 2005. We test current developments against the Fédération des Experts Comptables Européens (FEE) (2002 April 2002. “Discussion paper on enforcement of IFRS within Europe”. In Fédération des Experts Comptables Européens (FEE) April, Available at: www.fee.be/publications/main.htm [Google Scholar]) recommendations and against the principles for effective enforcement proposed in CESR Standard No. 1 on Financial Information. We present the views of people involved in financial reporting standard setting and enforcement from these countries, as well as the IASB, FEE and EFRAG, about the challenges of achieving effective uniform enforcement. Our paper will be of interest to people developing or participating in enforcement bodies, and to capital market participants who will be subject to the various regulatory regimes.     

An examination of anti-violence human resource management practices in the context of health care and aged care

Although accumulated research has demonstrated the negative impacts of workplace violence and called for effective solutions from a human resource management (HRM) perspective, a valid measure of anti-violence HRM practices is missing. In this paper, we develop a scale of anti-violence HRM practices that is critical for both theoretical advancement and managerial practices in health care and aged care contexts. Through an inductive approach in Study 1, we generated items for the scale to be used in health care and aged care contexts, which we then subjected to a content validity test in Study 2. Using the newly developed scale, we further demonstrated in Study 3 that anti-violence HRM practices that are implemented in aged care facilities reduce workers' experienced violence, improve workers' emotional wellbeing, and enhance workers' organisational and career commitment.     

An extensive form solution to the adverse selection problem in principal/multi-agent environments

When agents have quasi-linear preferences, every incentive compatible social choice function can be implemented by a simple extensive form mechanism, even if agents are allowed to use mixed strategies. The second stage of the mechanism, which is used to elicit the agents' true preferences, is not reached in equilibrium; it gives agents strict dominant strategies, so equilibrium outcomes are not sensitive to agents' beliefs off the equilibrium path. This solves the multiple equilibrium problem of a principal facing several agents: the mechanism implements any solution to the principal's second best maximization problem. The specification of incentive compatibility constraints in the principal's problem presupposes a precise knowledge of the agents' beliefs. However, the above mechanism can be modified to implement the principal's second best (to within arbitrarily small perturbations of transfers), regardless of the agents' conditional beliefs. Received: 30 April 1997 / Accepted: 16 September 1997     

An expanded model of the factors affecting the acceptance and effectiveness of electronic human resource management systems

Despite the widespread use of eHR systems, surveys show that there may be a number of problems associated with their design and implementation [CedarCrestone (2007). CedarCrestone 2007–2008 HR systems survey: HR technologies, service delivery approaches, and metrics. Available at www.cedarcrestone.com/research.php. Retrieved July, 2008]. In an effort to overcome these problems we expanded the model of eHR acceptance and effectiveness developed by Stone, Stone-Romero, & Lukaszewski [Stone, D. L., Stone-Romero, E. F., & Lukaszewski, K. (2006). Factors affecting the acceptance and effectiveness of electronic human resource systems. Human Resources Management Review, 16, 229-244]. The expanded model provides a more detailed discussion of the communication processes underlying these systems including the effects of media and message characteristics. In addition, we offer a number of testable hypotheses based on the model that can be used to guide future research on eHR systems.     

The impact of just-in-time manufacturing on firm performance in the US

Just-In-Time manufacturing has been subjected to numerous studies both empirical and methodological. This work attempts to measure the impact of JIT on accounting measures of performance. Most technologies and investments are justified on the basis of their impact on financial and accounting measures which are not easily quantified. Our empirical methodology, simultaneous equation estimation, allows us to isolate the partial effects of JIT on various accounting measures thus gauging the true impact of this method on firm performance. Our results show that after JIT adoption firms reduced the labor content in facilities, increased inventory turnover and enhanced earnings. There was no significant impact on prices charged by the firm. These results support the anecdotal evidence on JIT and the theoretical work done by various authors. Even though the firms studied experienced a downturn in their performance our empirical methodology could identify positive benefits resulting from JIT adoption.     

An examination of factors associated with the integration of human resource management and strategic decision making

Conceptually, a central aspect of “strategic HRM” is the integration of the HR function with strategic decision making. Little is known, however, about the factors that influence integration or its subsequent effects. Using data from 148 diverse organizations, it was found that strategic type and whether or not top management views employees as strategic resources were associated with integration, but that labor market munificence and organizational growth were not. The results concerning the relationship between integration and performance were surprising; integration was associated with a lower evaluation of the HRM function by top management. © 1998 John Wiley & Sons, Inc.     

当前中国经济热点问题分析

中国的“三农”问题 解决“三农”问题关键就是要增加农民收入。长期以来,党和政府一直都非常重视农民增收,但迄今为止,农民增收问题还是没能真正解决好。 最初解决“三农”问题的思路是实行农业产业化,就是将农业生产的链条拉长,实现生产、加工、销售的一体化。农业产业化确实可     

Managing human resources in dynamic environments to create value: role of HR options

HR options as firm investments in human assets in uncertain environments to create the capability to flexibly respond to future contingent events have been recognised as valuable. However, the black box of causal interlinkages between environmental uncertainties, HR options and firm performance is yet to be explored in strategic HRM literature. Based on the data obtained from 108 IT software firms in India, this study empirically explores these linkages using a multi-level causal model. The results suggest that the use of HR options positively mediates the effects of environmental uncertainties on firm performance. The mediating influences of different types of HR options, used by the firms to manage various types of uncertainties affecting their human assets, on the operational and the financial performance of the firms are found to be different. Implications of findings of the study for managing investments in human assets under uncertainty have been discussed.     

Expanding the concept of fit in strategic human resource management: An examination of the relationship between human resource practices and charismatic leadership on organizational outcomes

We investigate the relationship between high‐commitment human resources (HCHR) practices and chief executive officer (CEO) charismatic leadership on voluntary employee turnover and relative performance to peers in a sample of 281 small firms. In this study, we expand upon prior conceptualizations of fit within the literature on strategic human resources (HR) to include the fit of HCHR with other aspects of the people management system. Specifically, we hypothesize a variety of relationships that may occur (e.g., positive synergistic, deadly combination, or substitution) and find that when a firm uses a system of HCHR practices and has a charismatic leader, performance is highest and turnover lowest. Conversely, when a firm does not invest in either, performance is lowest and turnover highest. We also found some support for a substitution effect as our data showed that when there is a mismatch between a firm's HR system and the leadership characteristics of the CEO, turnover is higher and performance lower than the high‐investment people management system (high HCHR and high‐charismatic leadership), but turnover is lower and performance higher than the low‐investment (low HCHR and low‐charismatic leadership) people management system.     

An examination of the use of high‐investment human resource systems for core and support employees

In this study, we examine two competing perspectives regarding the relative use of high‐investment human resource (HIHR) systems for core and support employees within establishments. Using data from 420 establishments, we compare a universal perspective suggesting that the level of HIHR exposure core employees receive is always greater than the level of exposure for sup‐port employees, with a contingency perspective suggesting that the relative level of exposure for these employee groups is contingent on strategy, HR philosophy, or industry.The results did not provide support for the universal prediction that core employees always receive higher levels of exposure to HIHR systems than support employees within the same establishment. Moreover, while strategy and HR philosophy were positively related to the level of HIHR system use across establishments, they did not influence the relative level of exposure to HIHR systems for core and support employees. Interestingly, however, industry did exert a unique impact such that core em‐ployees received significantly greater exposure to HIHR systems than sup‐port employees in nonmanufacturing firms.There were no significant differ‐ences in exposure for these two groups in manufacturing industries. Implications of the findings are discussed. © 2007 Wiley Periodicals, Inc.     

An examination of factors influencing the application of mechanisms of organizations' resilience to weather extremes

The ability to resist and respond to an external shock and recover once it has occurred is called resilience. The present paper discusses mechanisms of organizations' resilience to weather extremes. The objective of the study was to determine factors influencing the application of resilience mechanisms by European organizations. The paper presents the frequency particular mechanisms are applied in and determinants of their employment. We tested a model in which individual, organizational, community‐specific, and extreme‐related factors influence application of resilience mechanisms, which in turn influence adaptive resilience. The present study revealed that some of the selected resilience mechanisms are applied more frequently than others. The mechanisms include disposition and administration of resources, self‐organization, intraorganizational communication, damage assessment, review of previous events, and the acquisition of external information. The significance of 10 factors impacting the using of resilience mechanisms was verified in the course of the study. Findings are intended to facilitate a better understanding of resilience to weather extremes in organizations.     

Bayesian inference in limited dependent variable models. An application to measuring strike duration

This paper presents a straightforward set of Bayesian techniques for analyzing models involving limited dependent variables; the techniques are demonstrated in an analysis of Kennan's (1985) data on contract strikes in US manufacturing. The data are analyzed by deriving posterior distributions—including probability distributions—of hazard functions for strike duration using numerical Monte Carlo methods. The distributions are employed to derive coverage intervals for hazard functions, to assess the relative plausibility of nonnested hypotheses concerning the shape of the functions, and to assess the impact of industrial production on duration.     

Empirical comparison of just-in-time and stockless materiel management systems in the health care industry

Despite the limitations, this study is the first comparative empirical investigation of two relatively new materiel management systems applied in hospitals. The results show that hospital managers have significantly rated the possibility that more effective use of some materiel management resources can be achieved by adopting either a JIT or stockless system over conventional materiel management systems.     

Factors affecting the acceptance and effectiveness of electronic human resource systems

Electronic human resource (eHR) systems are being used with increasing frequency in organizations. However, there is relatively little research on factors that influence the degree to which they result in functional versus dysfunctional consequences for individuals and organizations. Thus, the major purposes of this article are to: (a) present a model that relates a number of antecedents to such consequences, (b) describe the impact of individual and eHR system characteristics on four important eHR-related variables (i.e., information flows, social interactions, perceived control, and system acceptance), (c) offer a set of hypotheses that can be used to guide research on eHR systems, and (d) advance recommendations for the design of such systems.