The Stabilising Role of US Federal Fiscal Institutions — What Lessons for the Euro Area?

The classic argument for a euro area “fiscal capacity”, understood in this contribution as a centralised fiscal stabiliser, revolves around the need to dampen the effects of asymmetric shocks. According to those preaching this conventional wisdom, a common fiscal stabiliser designed along the lines of the US federal fiscal system would have stabilised incomes in member states hit the hardest, thereby avoiding the divergence that has unfolded in the aftermath of the financial crisis between the South, led by Italy and Greece, and the North, led by Germany and the Benelux countries.     

Where Are the Utilities Going Next?

This provocative article suggests that the utilities in countries where restructuring has been succesfully completed are poised to steal a march on many companies in more glamorous industries. Partly for historical reasons, utilities are exceptionally strong in particular competencies. With successful competitive strategy increasingly based on competencies, and because privatisation and liberalisation were such a baptism of fire,the author argues that utilities are \"way ahead of their time\".     

What in the World is Going On?

Advertisers grappling with the vagaries of a global marketplace require a perspective that is comprehensive of the issues affecting their craft. The trade press is one information source that is commonly mined by agency researchers seeking to remain current on the international front. This article attempts to transform impressions gained from such casual reading into a more systematic and useful framework for interpreting the global marketplace. Drawing on a content analysis of information presented in the pages of the "International" section of the trade paper Advertising Age, a perspective of international marketing is advanced, the utility of that perspective to advertising researchers is explored, and the implications of that perspective for international advertising strategy are examined.     

The Euro at 20: Still a Project Projected to Fail?

Intereconomics - Since growth and employment are the economic variables dominating the public debate in an era of low inflation, it is no surprise that, that the euro has become a matter of...     

A Circle of Influence: Are All the Stakeholders Included?

Traditionally, certified public accountants (CPAs) have served a unique role in the world of commerce and the profession of accounting. They perform an attest function and thereby serve as the chief providers of relevant, high quality accounting information to the decision making public. CPAs are licensed practitioners, who as expert independent accountants express opinions about an entity'sfinancial statements. Their license provides them with the exclusive right to perform this attest function. This monoploy relies on the concept of independence that is the normative standard of accountancy. It is this perceived independence of auditors which provides credibility, reliability and trust in the financial accounting information upon which stakeholders depend to make informed decisions. Now, however, we see the environment in which CPAs operate undergoing rapid change. Both the globalization of business operations and technological advances have radically changed how and where accountants work and the speed at which things happen. The very nature of accounting information services is evolving; moving from a concentration on audits to an increasing reliance on consulting and assurance services. New ethical issues have been raised by this confluence of changes in the accounting environment. Noteworthy is that the application of the principle of independence by CPAs has been called into question by no other than the SEC. Are those stakeholders who depend upon the independence of CPAs at risk? The influence of insiders has significantly increased as accounting firms perform multiple tasks for the same clients. This paper discusses the different groups who can potentially impair the independence of auditors and the steps that are being taken to enhance the "independence" of the auditors.     

Correction: The Euro at 20: Still a Project Projected to Fail?

Intereconomics - In the Forum article “The Euro at 20: Still a Project Projected to Fail?” by Adalbert Winkler in Intereconomics, Vol. 54, No. 2, 2019, p. 90–95, DOI:...     

Does a weak Euro signify poor competitiveness of the Euro zone?

The pronounced decline in the euro’s exchange rate since the currency’s launch at the start of 1999, especially against the US dollar, has rekindled the discussion surrounding the competitiveness of the euro zone. This marks quite a shift of focus within just a short period. When the new monetary union came into being, the emphasis was on the increased significance of the corresponding economic zone, given its economic muscle and its prominent position on world markets. This was taken to indicate that the EMU economies were highly competitive. On the other hand, the drop in the euro’s value since its launch is said by many to reflect a poor competitive position. This article will examine some possible explanations for the depreciation of the euro against the dollar, focussing on the competitiveness of the euro zone, particularly relative to the USA, by applying selected indicators.     

Ten Years of Public Interest Disclosure Legislation in the UK: Are Whistleblowers Adequately Protected?

Purpose The purpose of this article is to assess the operation of the UK’s Public Interest Disclosure Act 1998 (PIDA 1998) during its first 10 years and to consider its implications for the whistleblowing process. Method The article sets the legislation into context by discussing the common law background. It then gives detailed consideration to the statutory provisions and how they have been interpreted by the courts and tribunals. Results In assessing the impact of the legislation’s approach to whistleblowing both in the UK and elsewhere, the author draws upon empirical research. Conclusion The author concludes that PIDA 1998 has not adequately protected whistleblowers and makes 12 recommendations for change. Despite the European Commission’s acknowledgement that whistleblowers can play a part in the fight against corruption, the author notes that common standards for their protection still seem a long way off.     

Where Are We Going? Perceptions of French Marketing Academics

This paper examines French marketing academics' perceptions of the most pressing issues for theory, practice and academia. The context is provided by an examination of individual and institutional demographic factors; how academics spend their time and what are their teaching/research interests. An analysis of the perceptions suggests there is a need to develop some new paradigmatical thoughts and that an epistemological debate is strongly missed. One key issue of theory, practice and academia is the link between practice and theory that is strongly asked for by the French respondents.     

Going Mainstream—What Does It Truly Mean Anyway?

Our focus is the poorly defined notion of mainstream. Mainstream is a commonly used word in both the lay and scientific literature but one that most people find difficult to define. Using experimental design of ideas (IdeaMap®.Net), we looked at how combinations of phrases fit the notion of mainstream. Experimental design forces the respondent to evaluate “mainstream” as an intuitive percept, rather than intellectualizing their answer. The data showed the part-worth contribution of each of 36 phrases about mainstream to the general concept of mainstream. Knowing how each specific phrase drives the perception of mainstream provides a glimpse into the respondent's mind.     

The Euro Illusion in Consumers’ Price Estimation: An Italian–Irish Comparison in the Third Year of the Euro

The euro illusion is a transient phenomenon that consists of currency-related asymmetries in the intuitive judgment of product prices made by consumers. The results of a cross-country study in the third year after the introduction of the euro show a strong price estimation asymmetry in a country with an extreme exchange rate (Italy) and a weaker effect in a country in which the nominal values of the new and the old currency are much closer (Ireland). These results rule out proposed explanations of the euro illusion in price estimation that assume the sole influence of plausible anchors (reference prices stored in memory within the plausible price range), supporting instead accounts also endorsing the role of implausible anchors (reference prices outside the plausible price range). Beyond contributing to our theoretical understanding of the euro illusion, this research starts to unveil the interplay between structural factors (i.e., the currency exchange rate) and psychological mechanisms that produce long-lasting difficulties for consumers after a monetary changeover.

What Are the Prospects for Live Streaming?

On January 16,New Culture,a listed company that had just announced cooperation with live streamer Li Jiaqi,saw its stock price hit up to the limit when the market opened.Early trading hours saw the trading of over 1.15 million transactions,and at the closing hour there were also over 700,000 transactions waiting to be executed.     

In the wake of a merger: The human trauma What happens to the individual?

Mergers—are they a business blessing or a curse? However viewed, they have affected and will continue to affect a good many lives, frequently in a drastic and permanent fashion. Is there something about mergers that offers unique challenges to those affected, or are those challenges the traditional ones? Are some individuals victimized by the impact of the event and its reverberations, or have they placed themselves in vulnerable situations through inattention to business realities that the merger simply revealed? These questions are developed and answered in the following correspondence; the persons and companies named are fictional. The correspondence begins with a letter from Thomas E. Ellis, director, training and development, Hoffman-Burkhart Specialties, to his brother, Frank T. Ellis.     

The Undisclosed Renminbi Basket: Are the Markets Telling Us Something about Where the Renminbi–US Dollar Exchange Rate is Going?

On 21 July 2005 China adopted an undisclosed basket exchange rate regime. We formally assess and envisage the gradual evolution of the renminbi over time. We utilise nonlinear dependencies in the renminbi exchange rate and describe the smooth transition of the renminbi/US dollar (RMB/USD) exchange rate using the family of time‐varying autoregressive (TV‐AR) models. The results indicate that the forward‐looking nonlinear model adequately depicts the gradual reform process underlying the new RMB exchange rate regime.     

Design Thinking and Entrepreneurship Education: Where Are We,and What Are the Possibilities?

The growing need for a workforce equipped to face uncertainties and address problems not susceptible to inquiry based on pure analytical skills has caused the rapid growth of design‐based curriculum and educational activities. Entrepreneurship education has embraced a design thinking lens, as evidenced by the increasing number of curricula incorporating processes that have roots in design. Yet there is limited understanding of the conceptual underpinnings and the implementation of such practices. We provide theoretical links to provide conceptual clarity to design‐based entrepreneurship education, propose recommendations with a multistakeholder alignment‐based model, and perform a survey to demonstrate its current state of practice.