Accounting for power and control: The Anglo-Iranian oil nationalisation of 1951

The paper uses accounting and stock market data to evaluate the power of protagonists in a political crisis and their respective ability to assert control over disputed assets. It employs a case study of the expropriation of the assets of the AIOC by the Iranian government in 1951. An event study and accounting data analysis show that the stock market reaction to the nationalisation strongly predicted the ability of the company to recover its assets implying a significant market value associated with political support. They also show that the company was able to use the publication of its annual report to reassure shareholders and that due to the assumed presence of political support this signal was received as credible.     

Second thoughts about ' Cases in Auditing '

This paper considers the uses and limitations of case studies in teaching audit and, in particular, the ways in which cases might be made more relevant to a critical approach to audit. It concludes that case studies based on audit scandals are not always the most appropriate resource, and that what are needed are cases that give students an appreciation of the way in which audit relates to other elements of corporate governance. A role-playing approach may be helpful here to provide an insight into the multiple pressures and influences on the auditor.     

The term structure of policy rules

A formula is derived that links the coefficients of the monetary policy rule for the short-term interest rate to the coefficients of the implied affine equations for long-term interest rates. The formula predicts that an increase in the coefficients in the monetary policy rule will lead to an increase in the coefficients in the affine equations. Empirical evidence for such a prediction is provided. The curve of the response coefficients by maturity is also predicted by the formula. The formula's predictive accuracy and its closed form make it a useful tool for studying the policy implications of embedding no-arbitrage affine theories into macro models.     

Not paying for our past: Government,business and the debate on contaminated land in the UK

It is difficult to overemphasize the extent to which battles over the availability of information played a fundamental role in environmental controversy (Hays, 1987: 537). Since the 1990 Environmental Protection Act, there has been controversy in the UK about the extent to which businesses should be required to identify and clean up contaminated land. This paper examines the controversy in the context of wider debates about the function of corporate social reporting.     

Expectancy‐value theory contributes to understanding consumer attitudes towards cow's milk alternatives and variants

Although South Africans mostly consume cow's milk, cow's milk alternatives/variants are increasingly becoming popular and this could be attributed to higher demand and changing consumer attitudes. Using expectancy‐value theory approach, this study aimed to explore consumers' beliefs that exist to influence their attitude towards cow's milk alternatives/variants and consequently the acceptance or non‐acceptance thereof. Thirteen focus groups, each with four to eight participants, were conducted at the University of South Africa (Unisa) Science Campus in Florida, Gauteng, South Africa. Genders were separated to improve the facilitation of the discussion. The semi‐structured discussions explored and gave an insight into consumer attitudes and perceptions that influence acceptance of cow's milk alternatives/variants. The recorded discussions were transcribed and the content was analyzed for emerging themes and categories by two independent parties, who then compared these emerging themes and categories. Results showed that the primary factors that influence consumers' beliefs and, ultimately, attitude formation and predisposition to accept or reject cow's milk alternatives/variants are acquired through knowledge and perceptions coming from (1) direct experiences, such as familiarity with the products' internal and external attributes, conditional willingness and causal factors, (2) indirect experiences ingrained from childhood and (3) association, where consumers had no reference to the product to attach attributes for belief formation, leading to being astonished at the thought, being curious about the product or having no interest in it. This study demonstrated that consumers' acceptance of cow's milk alternatives/variants will ultimately depend on product‐related expectations.     

An Evaluation of ‘Work’ for People with a Severe Persistent Mental Illness

The idea of employment for people with a severe persistent mental illness (SPMI) has great merit and much research has been conducted which identifies the value of such initiatives. However, it seems that the success stories remain limited. This paper draws on the literature and research findings therein to suggest that the issue of employing someone with a SPMI is complex and that the reality of being able to achieve long-term satisfactory outcomes for all parties involved in employment relationships needs careful consideration. It contends that the idea of people with SPMI gaining meaningful work is important but that in doing so, there is a need to review the meaning of ‘work’ to one which incorporates a broader view of ‘occupation’ and inclusion of ‘daily activities’ as work. In addition, this paper emphasises the necessity to take an integrated approach which considers the needs and capabilities of the individual with SPMI and so, keep everyone well and safe, and improve individual’s quality of life. In light of this, this paper presents a diagram that articulates the various domains which need to be considered if someone with a SPMI is to engage with meaningful and sustained ‘work’.     

Infrastructure implications of a green economy transition in the Western Cape Province of South Africa: A system dynamics modelling approach

In order to meet future goals in reducing the resulting carbon emissions from transport networks, vast investment in the development of a more energy-efficient and sustainable infrastructure is required. This study investigates the infrastructure implications of a green economy transition in the Western Cape Province of South Africa with a particular focus on the transport sector. Utilising a system dynamics modelling approach, the research effort aimed to improve understanding of how technical, economic, political, social, and environmental factors interact, particularly in the context of the uncertainties encountered during this transition. The key findings of the research indicate that investment in a better public transport system, as well as shifting the movement of freight onto the rail network, would deliver long-term positive effects, including a possible carbon emission reduction of up to 17.89%.     

The Role of Personal Values in Fair Trade Consumption

Research in the U.S. on fair trade consumption is sparse. Therefore, little is known as to what motivates U.S. consumers to buy fair trade products. This study sought to determine which values are salient to American fair trade consumption. The data were gathered via a Web-based version of the Schwartz Value Survey (SVS) and were gleaned from actual consumers who purchase fair trade products from a range of Internet-based fair trade retailers. This study established that indeed there are significant interactions between personal values and fair trade consumption and that demographics proved to be useless in creating a profile of the American fair trade consumer.     

The state of total quality management: a review

As quality is seen as becoming a competitive mandate, many organizations are said to be embracing the practice of total quality management (TQM) as an improvement strategy. In this paper, we will be examining the extent to which quality management (QM) - TQM in particular-has been adopted by organizations. Just as there are companies that claim that QM is benefiting them, the concept is also increasingly being criticized for not bringing about the promised results, and in the following review, studies that have highlighted this disparity in opinions will be reviewed. Increasingly, doubts have been raised as to whether partial quality management - and not TQM - is being practised in organizations. This paper will also examine the difficulties companies may be faced with in their attempts to embrace TQM.