Utilising a typology of management accounting change: An empirical analysis

Management accounting change, currently an increasingly popular focus for research, is not a uniform phenomenon. Its nature and form may vary across multiple dimensions and this variation has been neglected by researchers who have tended to study change per se rather than distinguishing it though a categorisation by type. This paper explores the forms which management accounting change has taken in a sample of manufacturing companies by utilising a simple typology of management accounting system change, derived from the existing research literature, consisting of addition, replacement, output modification, operational modification and reduction. This classification is combined with information on the incidence, location, importance and success of management accounting changes to provide some analytical insights into the variety and patterns of change within these companies and to derive some guidance for future research on the topic.     

Capture and surveillance of quad-bike (ATV)-related injuries in administrative data collections

Identifying quad-bike-related injuries in administrative data collections can be problematic. This study sought to determine whether quad-bike-related injuries could be identified in routinely collected administrative data collections in New South Wales (NSW), Australia, and to determine the information recorded according to World Health Organization (WHO) injury surveillance guidelines that could assist injury prevention efforts. Five routinely collected administrative data collections in NSW in the period 2000–2012 were reviewed. The WHO core minimum data items recorded in each of the five data collections ranged from 37.5% to 75.0%. Age and sex of the injured individual were the only data items that were recorded in all data collections. The data collections did not contain detailed information on the circumstances of quad bike incidents. Major improvements are needed in the information collected in these data-sets, if their value is to be increased and used for injury prevention purposes.     

Market or limit orders?

In this paper we investigate the problem of optimal order placement of an asset listed on an exchange using both market and limit orders in a simple model of market dynamics. We seek to understand under which settings it is optimal to place limit or market orders. Limit orders typically lower transaction costs but increase the risk of incomplete order execution, whereas market orders typically have higher transaction costs but are guaranteed to be executed. Rather than considering order book dynamics to determine if a limit order is executed we rely on price dynamics for this. We look at implementation shortfall in this setup with market impact of trading and propose a dynamic program to find the optimal placement of both market and limit orders for risk-neutral and risk-averse traders. With this we find a bound on the expected cost of trading and show that a trader who behaves optimally should always expect to pay less to trade less. We then solve the dynamic program numerically and examine optimal order placement strategies. We find that the decision between market and limit orders is sensitive to price volatility, risk aversion, and trading costs.     

Theories of Soft Budget Constraints and the Analysis of Banking Crises

This paper proposes a new taxonomy for classifying models of soft budget constraints which allows identification of two classes of models. Distinguishing between these classes of models is useful, as they yield SBCs in differing circumstances and have differing theoretical and policy implications. The taxonomy is used to motivate an area of economic theory in which SBC models can yield novel insights: the analysis of banking crises. A model is presented in which SBCs arising from creditor passivity have implications for the question of the appropriate policy for dealing with bad debts on troubled banks' balance sheets. The paper also compares the implications of the two classes of SBC models for the analysis of banking crises.     

An Analysis of the Cross Section of Returns for EREITs Using a Varying-Risk Beta Model

A dual-beta asset pricing model is employed to examine the cross-section of realized equity real estate investment trust ( EREIT ) returns over bull and bear markets. No significant relationship is found between EREIT returns and a constant beta. However, beta explains cross-sectional returns when betas are allowed to vary across bull markets. This positive relationship exists for both January and non-January months. During bear-market months, no significant relationship is found between REIT betas and returns. But, during such months, size and book-to-market ratio are found to be negatively related to returns.     

The Maputo Development Corridor: A case study of the SDI process in Mpumalanga

The Maputo Development Corridor (MDC) was officially launched in May 1996 in Maputo by the presidents of South Africa and Mozambique. Within two years it has become known as the ‘most advanced international development corridor in Africa’ (Department of Transport, 1997). As the flagship of the Spacial Development Initiative (SDI) process, the methodology utilised in the MDC is now being applied to the other eight SDIs in South Africa and increasingly is being considered by other African countries. The objective of this article is to examine the lessons learned in implementing the MDC in the Mpumalanga province, South Africa. Having provided a brief orientation and having outlined the short history of the MDC and its institutional context, the article will focus on the progress made by the project in attaining the key objectives set at its launch.     

Competence resource specialization, causal ambiguity, and the creation and decay of competitiveness: the role of marketing strategy in new product performance and shareholder value

Marketing strategists should create, maintain, and arrest the decay of causally ambiguous resource competences that lead to competitiveness and thus performance. However, competence causal ambiguity, which helps create competitiveness, is also implicated in competitiveness decay. In this study we test a model of specialization-competitiveness-performance using primary and secondary data from 169 public respondents/firms, to examine the effects of negative internal barriers to replication and adaptation. These barriers develop due to resource lock-in arising from the same specialization processes that lead to the positive barriers to imitation that deter competitors. Results suggest that commitment to learning can mitigate resource lock-in problems with internal competence causal ambiguity, competence causal ambiguity among competitors appears more essential to competitiveness in more competitive markets, competitiveness positively relates to both shareholder value and new product performance, and an increased differential focus on marketing versus operations in the organization strengthens the positive bridge between organizational competitiveness and shareholder return.     

Enabling Guanxi Management in China: A Hierarchical Stakeholder Model of Effective Guanxi

Guanxi (literally interpersonal connections) is in essence a network of resource coalition-based stakeholders sharing resources for survival, and it plays a key role in achieving business success in China. However, the salience of guanxi stakeholders varies: not all guanxi relationships are necessary, and among the necessary guanxi participants, not all are equally important. A hierarchical stakeholder model of guanxi is developed drawing upon Mitchell et al.’s (1997) stakeholder salience theory and Anderson’s (1982) constituency theory. As an application of instrumental stakeholder theory, the model dimensionalizes the notion of stakeholder salience, and distinguishes between and among internal and external guanxi, core, major, and peripheral guanxi, and primary and secondary guanxi stakeholders. Guanxi management principles are developed based on a hierarchy of guanxi priorities and management specializations. The goal of this application of instrumental stakeholder theory is to construct, for Western business firms in China, a means to reliably identify guanxi partners by employing the principles of effective guanxi. These principles are described in the form of testable propositions that advance social scientific research in this area of international business ethics. Chenting Su is Associate Professor of Marketing at City University of Hong Kong. He is also Adjunct Professor at Wuhan University, P.R. China. He previously taught at the University of Victoria, Canada, He writes for Journal of Marketing Research, International Journal of Research in Marketing, Journal of Travel Research, Journal of Business Ethics, Psychology & Marketing, International Journal of Market Research, Service Marketing Quarterly, Research in Marketing, and others. He presently serves as Executive Director of China Marketing Association, P.R. China. Ronald K. Mitchell is Professor of Entrepreneurship and J. A. Bagley Regents Chair in Management in the Rawls College of Business at Texas Tech University. He publishes in the areas of new value creation and stakeholder theory. From 1999–2002 he held a joint appointment in strategy and public policy in the Guanghua School of Management at Peking University, Beijing, PRC. He has won numerous awards for research and program building; presently serves in the leadership of the AOM Entrepreneurship Division; and is Co-Editor for the Entrepreneurship Theory & Practice three-volume Special Issue on Entrepreneurial Cognition. Joe Sirgy is Professor of Marketing and Virginia Real Estate Research Fellow at Virginia Polytechnic Institute and State University (Virginia Tech). He has published extensively in the area of business ethics and quality-of-life (QOL) research in relation to theory, philosophy, measurement, business, and public policy. He co-founded the International Society for Quality-of-Life Studies (ISQOLS) in 1995 and is currently serving as its Executive Director. He received the Distinguished Fellow Award from both the Academy of Marketing Science and ISQOLS. In 2003, ISQOLS recognized him as the Distinguished QOL Researcher for research excellence and a record of lifetime achievement in QOL research. He also is the current JMM section editor on QOL issues and a co-editor of Applied Research in Quality of Life.     

Sensation seeking and the prediction of attitudes and behaviours of wine tourists

Although socio-economic variables are commonly used for market segmentation and are widely applied in describing winery visitors, increasing awareness is evident in the literature that personality might also be useful for that purpose. The present study examined whether, compared with socio-economic variables (age, gender, education level, personal income, and household income), the personality variable sensation seeking adds to the ability to predict differences in various attitudes and behaviours of wine tourists. With the effects of the former controlled, sensation seeking was observed to be significantly related to spending on wine, and wine drinking, as well as to the frequency of visits to wineries and the number of activities engaged in at wineries, the use of the internet as a source of information about wineries, venturing off the beaten track during a visit to a wine region, and the strength of opportunity for learning, stimulation, or indulgence as incentives to visit a wine region. Sensation seeking was also observed to be significantly related to all but one of those variables when the effects of another variable which is receiving increasing attention as a means by which to characterize wine tourists, “involvement”, were controlled. The practical significance of the results for winery and wine region marketing and management is discussed, and several requirements for further research are identified.