Examining professionals’ identification in the workplace: The roles of organizational prestige,work-unit prestige,and professional status

Drawing on social identity theory, we hypothesize that professionals develop their organizational and work-unit identifications through organizational prestige and work-unit prestige respectively. We further hypothesize that professional status negatively interacts with organizational prestige and work-unit prestige to affect the development of their organizational and work-unit identifications from the perspectives of self-enhancement and uncertainty reduction. A two-phase survey on 386 hospital nurses in central China provides general support for the hypotheses. Implications for theory and practice are discussed.     

Relating audit and internal control objectives: A missing step in specifying compliance tests

Students often have difficulty in conceptualizing the relationship between reliance on a particular control and the attainment of a specific audit objective. In this article, the authors discuss an approach which demonstrates to students one way in which relevant internal controls can be identified and linked to specific audit objectives. The authors explain how a set of relevant internal controls can be selected for testing by relating these controls to specific audit objectives. The approach requires students to associate control objectives with audit objectives in a systematic manner.     

Resiliency in the E-mini futures market

We study how quickly liquidity is replenished on the order book in E-mini futures. The results show that participants who use patient methods, such as limit orders, are often fast to place new orders, while those using impatient market orders are slow to re-enter the market. These delays are a function of state constants, such as firm types, state conditions, such as whether the order is price improving, and time-varying covariates, such as the volume of trade during the gap. We also find support for the view that certain traders delay providing liquidity during active markets to avoid informed trading.     

CEO cultural background and corporate cash holdings

This paper examines whether the cultural background of chief executive officers (CEOs) affects corporate cash holdings. Using UK data from 2000 to 2018, we find that CEOs with a cultural background that emphasises power distance and uncertainty avoidance are positively associated with corporate cash holdings, while CEOs with a cultural background that emphasises masculinity are negatively associated with corporate cash holdings. Our results are robust to various robustness tests. Further analyses show that the impact is more pronounced when power is concentrated among top executives, when the CEOs have a degree of discretion in pursuing their own goals, and when information asymmetry is high.     

CCPS guidelines for chemical process quantitative risk analysis

This paper focuses on the new Guidelines for Chemical Process Quantitative Risk Analysis recently published by the AIChE Center for Chemical Process Safety (CCPS). CCPS was formed soon after the disasters in Mexico City and Bhopal. CCPS was established in 1985 by the AIChE to develop and disseminate technical information for use in the prevention of major chemical accidents. The center is supported by over 60 industrial sponsors in the chemical process industry (CPI), who provide the necessary funding and professional guidance to its technical committees. The major product of CCPS activities has been a series of guideline books. Table I presents a list of the currently available CCPS guidelines. The first book, Guidelines for Hazard Evaluation Procedures (HEP), presented various structured qualitative techniques (HAZOP, FMEA, etc.) that could be used to identify possible hazards in a chemical facility. The Technical Steering Committee of CCPS decided that a sequel to HEP should be developed which would present quantitative methods for acute process hazards. The Guidelines for Chemical Process Quantitative Risk Analysis (CPQRA) resulted from that decision.