The impact of introductory accounting courses on student perceptions about the purpose of accounting information and the objectives of business: A comparison of the UK and Japan

This paper is concerned with the impact of introductory financial accounting courses on student perceptions of business objectives. The paper reports the results of a questionnaire survey of UK and Japanese university students which investigated their views at the start and end of an introductory financial accounting module. The views of Japanese students, in comparison with those from the UK, are of particular interest given evidence in the literature that traditional “social market” traditions in Japan are being influenced by Anglo-American “stock market” values. Our results are consistent with such a phenomenon in that Japanese students’ values regarding business objectives show significant changes that are not mirrored by changes in the perceptions of their UK counterparts. We suggest that accounting education is acting as a conduit for views more commonly held in Anglo-American societies.     

The political economy of corporate governance in developing economies: The case of Bangladesh

The paper investigates the influence of concentrated shareholding, boardroom politics and interest group politics in the quality of corporate governance in listed firms. It finds that the controlling shareholders exert influence in boardroom politics through family-aligned board and executive management. The evidence shows that concentrated ownership, family-aligned board and management, and political connection(s) of the controlling shareholder(s) tend to be inversely associated with the quality of corporate governance in a firm. The findings of the study suggest that the broad-based interest group politics which influence both political preference and corporate control politics contribute significantly to the current state of corporate governance in developing economies.     

Predicting the Failure of Developmental Gold Mining Projects

This paper investigates firm‐level financial and non‐financial information and their association with project failure for a sample of pre‐production gold development firms. Pre‐revenue generating ‘single project’ mining companies are chosen, since project failure is synonymous with company failure for these firms. The setting is interesting due to the high information asymmetry and limitations of the GAAP‐based Altman Z‐score in this context. A definition of project failure is applied and both financial and non‐financial predictors are compared. Failure is driven by whether the deposit is open pit or underground, and whether the cash cost of production is disclosed at feasibility completion.     

Job guarantees, employability training and partnerships in the retail sector

This paper discusses the potential value of local, partnership-based employability training and job guarantee programmes, focusing on one example—the 'Alloa Initiative'. The Initiative involved an employability training and job guarantee scheme developed in partnership with Tesco, a major retailer, in preparation for the opening of one of the company's new stores. This paper reports on the outputs from this project, which placed 109 disadvantaged job seekers into positions at the store, and proved particularly effective at targeting the long-term unemployed and those with limited experience of the retail sector. The analysis is based on the findings of survey research undertaken with 86 of the 109 training course completers (a 79 per cent response rate) and all the main partners involved in the Initiative. Innovative elements of the training programme that contributed to its positive outcomes are discussed, and a model for 'managing successful partnerships' is applied, in order to identify critical factors explaining the apparent success of the Initiative. In particular, the importance of employers providing job guarantees is noted.     

The NHS Plan: Accounting for investment and reform in twenty acute hospital trusts in England (1998–2003)

The National Health Service (NHS) Plan published in 2000 summarised Labour's commitment to modernising the NHS in England. The NHS would receive substantial additional funding bringing expenditure on health, as a share in national income, to levels comparable with a European average. The promise of secure financing from government promised to reduce uncertainty and facilitate medium term resource planning in the NHS. Extra funding, as outlined in the NHS Plan, would also be tied into capital and labour process reform(s) to ensure that investment translated into the much needed additional capacity to treat patients. During the period 1998–2003 funding for an average acute hospital has increased 50% in cash terms satisfying expectations set out in the NHS Plan. It is now an appropriate time to review progress. Using information collected for 20 acute hospitals, selected on the basis that they had started and completed PFI projects in the period 1998–2003. This paper constructs a physical and financial audit which is then used to reveal the degree to which acute hospital finances are now secure and the extent to which physical capacity to treat patients has been robustly transformed.     

The face and voice of volunteering: a suitable case for branding?

Volunteers make a substantial contribution to UK society but the level of volunteering has peaked and may, in part, be due to the poor ‘image’ of volunteering. Through qualitative research, this study explores the need to re-shape perceptions of volunteering and the extent to which this may be achieved through branding. Key findings suggest that although there is much consistency in perceptions about generic volunteering, perceptions of the different strands of volunteering, such as governance and campaigning, are different and may require individual development as sub-brands. It is argued that Volunteering England is best placed to lead a brand development programme, supported by managers of national and local bodies as well as volunteers to create a new visual identity and, importantly, key messages that will resonate with current and potential volunteers across different areas of activity. Copyright © 2005 John Wiley & Sons, Ltd.     

Regional Grants: Are They Worth It?*

Regional grants have recently come under scrutiny and are controversial. Some estimates put the employment effect of these grants at no more than 6,000 jobs in the first half of the 1990s, against expenditure of £500 million. Other aspects of the grants are questioned, such as their ability to attract foreign direct investment and their effect on productivity. This paper reviews these issues, focusing on the recent evidence for the Regional Selective Assistance scheme. It describes the nature and difficulties involved in policy evaluation, and finds that differences over the employment effect of the grants result from possible biases induced by the evaluation methodology and from differences in the job measure used. Overall, the paper argues that the regional grants are cost‐effective in employment terms, but that expenditure is small relative to the scale of the problem, so that an expansion of the grants may be desirable.     

ECONOMICS,RELIGION AND THE DECLINE OF EUROPE1

This article asks whether there is any casual connection between the contemporaneous decline in industriousness and religiosity in Europe over the past 25 years. In the United States working hours and levels of religious faith and observance have held steady or even increased over this period. But in most European countries they have declined together. Could this be a posthumous vindication of Max Weber's thesis about the Protestant work ethic and the rise of capitalism? Though there clearly are some important links between religion and economic behaviour, the article concludes that the evidence does not perfectly fit Weber's theory, which emphasised abstinence rather than consumption as a determinant of economic development.