Relying on the heuristic of trust: a case study

This study examines the reliance on trust as a heuristic by individuals when making personal financial decisions, using a qualitative case study. We show that in the face of complexity and choice, individual investors predominantly resorted to the heuristic of trust to make financial decisions. This demonstrates the need for industry and public policy‐makers to be aware that individuals can and will resort to simplified heuristics as a basis for financial decision‐making, particularly within an environment where substantial complexity and choice exist.     

An exploration of the mediating effects of auditor experience and position in internal accounting control evaluation

This study is an exploration of the effects of auditor background on internal accounting control judgements. A series of control evaluation cases were mailed to experienced auditors. These subjects were asked to rate the described control systems against three control objectives.No hypotheses were tested. Rather, the objectives of the study reported here were (1) to determine which, if any, background variables were associated with differences in auditor ratings and (2) to posit reasonable explanations, grounded in actual data, for any differences detected. Such differences were found for subjects grouped according to firm affiliation, auditor rank/years of experience, and control evaluation experience.These differences are discussed and related to several possible explanations, which focus on learning and goal orientation effects in decision making. The explanations are viewed as potential topics for further research.     

Goal-setting participation and goal commitment: Examining the mediating roles of procedural fairness and interpersonal trust in a UK financial services organisation

This study investigates whether participation in goal-setting within performance measurement and evaluation processes affects goal commitment and if so, whether the effect is mediated by procedural fairness and interpersonal trust. Using a sample of 54 managers within a UK financial services organisation, this study finds that participation in goal-setting is positively associated with goal commitment. Further analysis arising from introducing procedural fairness and interpersonal trust as mediating variables reveals that the association is significantly mediated by procedural fairness. Overall, these findings offer empirical evidence on the importance of procedural fairness on the relationship between participation and goal commitment.     

Behavioral effects of fairness in performance measurement and evaluation systems: Empirical evidence from France

The measurement and evaluation of employee performance are crucial aspects of the management accounting system because of their effects on employee motivation. It is therefore important for management accountants to understand how such effects occur. Fairness may be a key explanatory factor. This study proposes that the effects of the fairness of employee performance measurement and evaluation procedures on employee job satisfaction and organizational commitment are indirect. The results, based on a sample of 60 French managers, support these expectations. For the relationship between procedural fairness and job satisfaction, the effects are indirect through trust and fairness of outcomes. For the relationship between procedural fairness and organizational commitment, the effects are indirect through fairness of outcome, trust and job satisfaction. The results also indicate that affective effects through trust and satisfaction are substantially stronger than that through fairness of outcome. Fair performance evaluation procedures therefore do more than the mere provision of equitable outcomes among French managers.     

Trust in,trust out: a real cost of sudden and significant financial loss

This study examines the loss of trust that occurs when individuals suffer from sudden and significant financial loss. We use a qualitative case study to show that individuals lose trust in a range of parties, including financial advisors, banks, credit providers, government and perhaps most damagingly of all, oneself. Such outcomes are concerning as all financial services are based on trust between various parties, and trust is important in making financial decisions. A lack of trust can lead to poorer individual and societal outcomes. It also suggests that trends to financial self‐sufficiency have risks, which impact well beyond monetary losses.     

An investigation of internal marketing and its effects on employees in the banking sector in Saudi Arabia

A survey of the impact of internal marketing on perceptions of organizational commitment to employees and employee identification with their employers was conducted among a convenience sample of Saudi Arabia banking employees. The results indicate that internal marketing impacts perceptions of organizational commitment to employees (PBCMT), and rewards, employee empowerment and PBCMT impact employee identification with the organization (EBID). In addition, PBCMT partially mediates the internal communications – EBID and employee empowerment–EBID relationships, and it fully mediates the training – EBID and rewards–EBID relationships. Research and managerial implications are discussed, as are limitations and suggestions for future research.     

The effects of tone at the top and coordination with external auditors on internal auditors’ fraud risk assessments

Prior research suggests that internal auditors’ judgements are subject to management influence resulting in compromised risk assessments. This study investigates the effects of the tone at the top and coordination with external auditors on internal auditors’ fraud risk assessments. Results of an experiment involving 64 internal auditors indicate that when the tone at the top is poor, rather than favouring management, internal auditors report a higher risk of intentional misstatements and that coordination with external auditors can further reduce expectations of the incidence of intentional misstatements.     

The contract,accounting and trust: A case study of an international joint venture (IJV) in the United Arab Emirates (UAE)

This paper reports on the results of a case study that examines the effect of the contract and accounting on inter-organisational trust in an international joint venture (IJV). The empirical setting of the research was an IJV relation between a United Arab Emirates (UAE) firm and its western partner. Data were gathered from multiple sources, including documents, observations, interviews and discussions with managers. The paper aims to explore the process of trust development and the role of the contract and accounting in this. We find that trust developed differently for the partners. Moreover the trust concerns of the partners were not the same. Based on this we conclude that trust was not automatically reciprocated. Instead it needs relating to other items such as the contract, accounting and also the institutional environment. The open-book accounting we observed could only be termed ‘partial’ because the western partner had access to the local partner's books but not the vice versa. But this partial open-book accounting created conflicts between the partners. We argue that developing one kind of trust through one particular medium may help one party but may damage the relationship between the partners.     

内蒙古高等院校电子商务人才培养模式分析研究

本文选择将内蒙古地区的电子商务人才培养模式与我国其他地区进行对比研究,通过教学模式、特点进行分析,找出了内蒙古地区电子商务人才培养模式发展的不足,并提出了相应的改进建议,希望对内蒙古地区电子商务专业的教学研究和开设电子商务专业的院校在进行教学和人才培养上有一定的指导作用。     

An empirical investigation of the relative effect of trust and switching costs on service loyalty in the UK retail banking industry

The crisis in the UK financial services industry has led to retail banking customers treating transactions with growing scepticism. Retail banks are having to work very hard to regain customer trust. Despite recent research in marketing that acknowledges the importance of service loyalty to service firms, studies that have examined the relative effects of trust and the different types of switching costs on attitudinal and behavioural loyalty are scant. Therefore this article aims to build a model to examine the strength of the relationships between these constructs. Using survey data collected from a convenience sample of 290 retail banking customers in the United Kingdom, the article reveals that the main drivers of attitudinal loyalty are trust and relational switching costs. In contrast, the main drivers of behavioural loyalty are trust, relational switching costs and attitudinal loyalty. Interestingly, financial and procedural switching costs exert no significant effect on either attitudinal or behavioural loyalty. Trust and relational switching costs exert a stronger effect on attitudinal than behavioural loyalty.     

Forecast accuracy in initial public offerings and the impact of external constraints relative to managerial choice: a research note

We examine the accuracy of earnings forecasts published in prospectuses, under conditions where external influences of state regulation and economic condition act as constraints to mitigate management optimism. Our results indicate that regulation has no significant impact, but economic condition and management optimism are significantly associated with forecast accuracy. We conclude that a study of forecast accuracy over time must take into account external influences and that attempting to use regulation to improve forecast accuracy is not an effective strategy when there are strongly adverse economic conditions and when promoters or managers are optimistic in forecasting.     

我国房地产开发企业信托融资研究

房地产业是典型的资金密集型行业,相对于投资项目所需资金而言,房地产企业普遍存在自有资金不足的问题,因此必然要依赖于金融体系的资金支持。然而,现阶段我国房地产开发企业融资模式相对单一,主要依赖银行贷款。本文从房地产开发企业的角度出发,以美国为例分析REITs的发展状况及特点,并在此基础上研究和探讨我国房地产企业信托融资问题。     

内外均衡冲突下的人民币汇率政策选择:基于斯旺模型的研究

本文以斯旺模型为理论基础,研究了当前中国经济内外均衡,中突,并对内外均衡冲突下的汇率政策和货币政策之间的冲突进行了深入分析。根据斯旺模型,这两种冲突的解决要求当前实行紧缩国内支出政策和人民币升值政策的配合。因此,汇率政策的选择就变得至关重要。当然要解决当前经济内外均衡冲突,还需要其他政策的配合。     

“关系”理论及其在企业研究中的应用

中国是一个讲究关系的社会,其”关系”内涵丰富且复杂,不同于西方一般意义上的涵义。本文梳理了”关系”及其相关理论以及这些理论在企业研究中的应用现状,发现”关系”在企业的研究主要体现在企业与其外部的关系上,如政治关联和社会资本,而企业内部的”关系”主要从人口特征变量的相似与否来研究,集中在组织行为学领域。绝大部分学者都认同关系、基于关系的信任、由关系构成的社会网络和社会资本对企业发展是必不可少的要件,并得出了一些一致的结论。最后本文还提出了”关系”在企业研究中可能的研究方向。     

国有商业银行操作风险防范的委托-代理视角研究

本文运用委托代理理论的相关观点为银行操作风险控制提供思路,在分析国有商业银行操作风险管理滞后现状及问题的基础上,以外鉴内,延伸视角.提出了操作风险管理的改进方法和防范措施.     

广西农合机构信托受益权投资的现状、问题及对策研究

本文综合运用文献借鉴、实地调研和定量分析等研究方法,以近两年广西农合机构开办的信托受益权投资业务为例,分析信托受益权投资的现状,重点阐述信托受益权投资产生的模式、特征和存在的问题,并提出相应的风险防控措施和政策建议,对规范农合机构的业务发展、促进银信合作良性循环具有重要的现实指导意义.     

Mythical representations of trust in auditors and the preservation of social order in the financial community

The present paper investigates financial practitioners’ use and perception of audited financial statements. In-depth interviews, which we conducted with Canadian institutional investors, financial analysts and bankers, indicate: (1) a firm tendency to favour the quality of management over the content of financial statements in investment decisions and recommendation processes; and (2) a fundamental scepticism regarding the work of auditors. However, representations of auditor trustworthiness abound in formal texts surrounding the financial analysis domain—as if audited financial statements and the trust they convey towards numbers are indispensable to the work of financial analysts. Based on the work of Roland Barthes, we argue that financial practitioners’ trust in auditors constitutes a mythical representation whose main function is to maintain order and reproduce status quo within the financial system.     

An experimental investigation of accounting information’s influence on the individual giving process

In this study, we experimentally investigate accounting information’s role in the individual donation process. Specifically, we manipulate the presence of service efforts and accomplishments (SEA) information in conjunction with a typical fundraising request. We then investigate whether donors obtain comparative financial accounting information for the purpose of maximizing donation efficiency.In our experiment, potential donors felt that fundraising requests containing SEA disclosures were more informative than typical fundraising pleas. In addition, supplementing a standard fundraising request with summary SEA information significantly increased (1) the quality perception of the requesting charitable organization and (2) the percentage of potential donors who claimed they would donate to the requesting organization in the future. However, SEA information did not translate into increased actual giving in our study.Our experiment next offered actual donors the opportunity to obtain comparative financial information for the purpose of verifying efficient giving (i.e., donors could compare the soliciting organization to a similar organization). Although the majority of actual donors were unwilling to obtain this information, the vast majority of those viewing financial accounting information donated to the organization with the highest program-spending ratio. As such, our results support two seemingly opposed contentions: (1) only a minority of individual donors request and use financial information, however, (2) there is a need for increased accuracy of not-for-profit expense classification.     

信用微观视角下的C2C卖家初始信用计量及实证研究

目前对C2C卖家信用的动态性研究仅停留在卖家整体信用上,忽视了单笔交易中信用的动态性问题,且信用评价的定量表达与卖家信用构成无直接关联,导致信用评价结果与实际卖家信用本身的偏离。首先对卖家初始信用研究范畴进行界定,确定卖家初始信用的影响因素。其次,利用因子分析法确定其因子构成,建立信用评价定量表达与卖家信用构成的直接关联。通过实证研究验证在不同交易参数下卖家初始信用计量模型的有效性,可以为刻画和表达单笔交易微观视角下的卖家信用提供借鉴。     

The effects of task outcome feedback and broad domain evaluation experience on the use of unique scorecard measures

Prior research has found that division evaluators using balanced scorecards in a performance evaluation process relied almost solely on common measures and virtually ignored unique measures. Other studies have found certain situations in which measures that are unique to a particular division are not completely ignored. However, no study has addressed whether outcome feedback over a period of time can motivate evaluators to rely more on unique measures that are predictive of future financial results. Our study involving executives with varying levels of prior evaluation experience examines two factors that may lead to increased use of unique measures: task outcome feedback and broad domain evaluation experience. Results provide evidence of increased reliance on unique measures after multiple periods as evaluators receive outcome feedback showing the predictive value of these unique measures. Further, results indicate that unique measures are used more over time when the prior evaluation experience of the participants is relatively high.