EXAMINING ACCOUNTABILITY DIMENSIONS IN STATE‐OWNED ENTERPRISES

This paper examines accountability in the context of New Zealand's state‐owned enterprises (SOEs), and considers an accountability framework which extends beyond traditional (upward and outward) dimensions. While traditional accountability dimensions are clearly detailed in the legislation, less clear are the dilemmas and contradictions faced by SOEs, balancing multiple interests, and at times, conflicting objectives. These issues are explored through interviews conducted in two phases over a two year period with senior executives from 12 of the then 17 SOEs operating in New Zealand. Findings reveal a number of dimensions of accountability that extend beyond current conceptualisations of accountability in the public sector, often including multiple directions of accountability. Implications suggest the need for a more explicit framework of accountability relevant to the SOE context, which may serve useful in identifying potential pathways to conflict mitigation.     

Accounting for SGARAs: Towards Comparability and Consistency

The objectives of this study were to examine whether consistency and comparability has been achieved through the introduction of AASB 1037 and the subsequent adoption of AASB 141. We find that consistency in measurement methods has not been achieved through the introduction of a prescribed accounting method under AASB 1037 and is not likely to be achieved through the application of AASB 141. Consistency was found however in the application of measurement methods over time and, in particular, in these SGARA types of native forests and plantation timber. The study contributes to an understanding of the issues faced by Australian firms surrounding the processes leading to the introduction of a new accounting standard.     

How does the stock market react to the announcement of green policies?

We investigate the impact of 19 announcements of environmental regulation on the equities listed on the Australian Stock Exchange over the period 2005–2011. Using a well-established event study methodology, we assess whether these announcements are value constructive or destructive for equity investors. Additionally, we estimate the change in systematic risk following the announcements. Our results show that the Australian market was particularly sensitive to the carbon pollution reduction scheme (CPRS) announcement. A cumulative abnormal return of −31% was recorded in the alternative energy sector after Australia submitted its target range to the Copenhagen Accord. We observe that a move towards a greener nation has a mixed effect on abnormal returns with apparent sector-by-sector differences. Green policies appear to affect the long-term systematic risk of industries, leading to the diamond risk phenomenon.     

Social Enterprises and the Performance Advantages of a Vincentian Marketing Orientation

This study focuses on the managerial issue of should social enterprises (SEs) become more marketing oriented. It adapts the Kohli et al. (J Mark Res 30:467–477, 1993) MARKOR marketing orientation scale to measure the adoption of marketing by SEs. The items capture Vincentian-based values to leverage business in service to the poor as a measure of a Vincentian marketing orientation (VMO). A VMO is an organisational wide value-driven philosophy of management that focuses a SE on meeting its objectives by adopting a more marketing orientated approach to serve the needy and poor in a just and sustainable manner. SEs that exhibit a VMO seek to understand and respond to both the needs of their beneficiaries and stakeholders. They are constantly generating, disseminating, and responding to environmental, beneficiary, and stakeholder information and develop their business propositions to more effectively and efficiently meet the needs of the poor, while guided by a philosophy of leveraging business for social good. This study of SEs in Australia found that a VMO is strongly and positively correlated with social, economic, and environmental performance. These findings suggest that SEs may benefit by leveraging marketing capabilities to better serve their beneficiaries and stakeholders.     

Housing, Race, and Recovery from Hurricane Katrina

The destruction of private and public housing in New Orleans caused by Hurricane Katrina was greatest among African Americans due to historic settlement patterns. Data for 13 planning districts within Orleans Parish (the city of New Orleans proper) that document the extent of housing destruction, the distribution of population by race, and the share of returned population at 2 and 5 year points across these planning districts are evaluated using correlation analysis. The finding is that the return of African Americans to New Orleans is significantly less than that of other groups and is associated with the greater housing destruction in neighborhoods with the highest percentages of African Americans. An analysis of the structure and impact of the Road Home program for private housing and of the initiatives of the U.S. Department of Housing and Urban Development and the Housing Authority of New Orleans provides evidence of racial discriminatory policies and practices that contributed to the racial disparity in the African American return to New Orleans. It is suggested that political leaders paid more attention to the interests of developers and big businesses in the restoration of New Orleans than to the interests of the predominantly black working class in the city.     

Identity,Politics, and the Beach: Environmental Activism in Surfers Against Sewage

Abstract

Academic accounts of leisure activities like surfing tend to emphasise their individualistic, hedonistic and commercialised qualities, seeing this as characteristic of leisure consumption in late capitalism; that culture is increasingly dominated by the market and attention is diverted from collective and political issues. Yet empirical research in such lifestyle sport cultures reveals a more complex and contradictory picture of leisure consumption. This paper examines the pressure group Surfers Against Sewage (SAS), founded by surfers in Cornwall, England. It draws on subcultural media discourses about SAS and interviews with SAS members and personnel. Whilst acknowledging the limitations in the political significance and impact of SAS’s activism, the paper argues that through their sport consumption, participants from a range of minority water sports cultures have formed a politicised trans‐local collectivity based around a concern with their own localised environment, one which has become articulated into broader trans‐national political issues. It is argued further that SAS is part of a broader wave of new social movements and direct action protest groups that gathered momentum in Britain in the mid to late 1990s. In such groups the politics of identity take centre stage. The paper therefore challenges us to rethink the meaning of political activism, and the capacity of leisure and sport to contribute to the politics of identity.     

Accounting for national waste data: a Southern Tasmania outsourcing perspective

This paper assesses the extent to which the accountability expectations of the Australian federal government with respect to the reporting of waste data are satisfied by local government authorities in Southern Tasmania. A case study, based on the Southern Tasmanian Waste Strategy Authority and its member councils, shows the complex accountability relations generated by outsourcing of waste management services in local government and the instrumental, legalistic attitude of managers to their accountability responsibilities.     

SOFT INFORMATION PRODUCTION IN SME LENDING

We analyze the determinants of soft information production on bank clients assuming that this information is collected through close contact with borrowers. After classifying contacts based on the initiator and the location of the lender–borrower meetings, we find that banks have more direct contact with firms characterized by low risk and low use of their banking products, indicating that there may also be commercial reasons for such contact. Our findings suggest that the production of soft information may follow a quality selection process in which banks prefer to strengthen relationships with clients characterized by low risk and low use of their products. We provide additional evidence of the role of soft information in ongoing interactions between banks and borrowers. Banks that initiate contacts at the firm location result in future lower risk, lower spreads, and increased product sales.     

Cost-effectiveness of targeted screening for the identification of patients with atrial fibrillation: evaluation of a machine learning risk prediction algorithm

Abstract

Aims: As many cases of atrial fibrillation (AF) are asymptomatic, patients often remain undiagnosed until complications (e.g. stroke) manifest. Risk-prediction algorithms may help to efficiently identify people with undiagnosed AF. However, the cost-effectiveness of targeted screening remains uncertain. This study aimed to assess the cost-effectiveness of targeted screening, informed by a machine learning (ML) risk prediction algorithm, to identify patients with AF.

Methods: Cost-effectiveness analyses were undertaken utilizing a hybrid screening decision tree and Markov disease progression model. Costs and outcomes associated with the detection of AF compared traditional systematic and opportunistic AF screening strategies to targeted screening informed by a ML risk prediction algorithm. Model analyses were based on adults ≥50?years and adopted the UK NHS perspective.

Results: Targeted screening using the ML risk prediction algorithm required fewer patients to be screened (61 per 1,000 patients, compared to 534 and 687 patients in the systematic and opportunistic strategies) and detected more AF cases (11 per 1,000 patients, compared to 6 and 8?AF cases in the systematic and opportunistic screening strategies). The targeted approach demonstrated cost-effectiveness under base case settings (cost per QALY gained of £4,847 and £5,544 against systematic and opportunistic screening respectively). The targeted screening strategy was predicted to provide an additional 3.40 and 2.05 QALYs per 1,000 patients screened versus systematic and opportunistic strategies. The targeted screening strategy remained cost-effective in all scenarios evaluated.

Limitations: The analysis relied on assumptions that include the extended period of patient life span and the lack of consideration for treatment discontinuations/switching, as well as the assumption that the ML risk-prediction algorithm will identify asymptomatic AF.

Conclusions: Targeted screening using a ML risk prediction algorithm has the potential to enhance the clinical and cost-effectiveness of AF screening, improving health outcomes through efficient use of limited healthcare resources.     

Acquaintance or partner? Social economy organizations,institutional logics and regional development in Australia

The social economy as a regional development actor is gaining greater attention given its purported ability to address social and environmental problems. This growth in interest is occurring within a global environment that is calling for a more holistic understanding of development compared to traditionally economic-centric conceptions. While regional development policies and practices have long considered for-profit businesses as agents for regional growth, there is a relatively limited understanding of the role of the social economy as a development actor. The institutional environment is a large determinant of all kinds of entrepreneurial activity, and therefore understanding the relationships between the social economy and broader regional development processes is warranted. This paper moves beyond suggestions of an economic-centric focus of regional development by utilizing institutional logics as a theoretical framework for understanding the role of social enterprises in regional development. A multiple case study of ten social enterprises in two regional locations in Australia suggests that social enterprises can represent competing logics to economic-centric institutional values and systems. The paper argues that dominant institutional logics can promote or constrain the inter-play between the social and the economic aspects of development, in the context of social enterprises.