The role of domestic financial and economic development in financial integration

Using two-step system generalized method-of-moments on an unbalanced panel of 75 countries from 1996 to 2010, this study shows that financial development’s effect on the pace of a country’s financial integration is conditional on economic development. Indeed, the results validate the observation that greater financial development conditioned on similar levels of economic development should precede closer financial integration.     

Opportunities to work at home in the context of work‐life balance

Discussion of ‘work‐life balance’ and ‘family‐friendly’ employment is much in vogue among politicians and business leaders. Often, but not always, working at home is included within such practices. However, the concepts of work‐life balance and family‐friendly are commonly left ill‐defined by researchers and policymakers alike. In this article we outline formal definitions of these terms, which place spatial issues ‐ and hence working at home ‐ at the heart of the debate. This leads us on to examine working at home through the theoretical lens offered by attempts to explain the rise of work‐life balance arrangements. Twelve hypotheses emerge from the literature and are tested on the management data contained in the 1998 Workplace Employee Relations Survey or WERS98. Many of these hypotheses pass weak statistical tests but fail on stronger logistic regression tests. The article shows that the option to work at home is more likely to be available in the public sector, large establishments and work environments in which individuals are responsible for the quality of their own output. These workplaces are typically less unionised but not especially feminised.     

Measuring the Marketing Knowledge of Accounting Professionals

The accounting profession advocates that its member professionals and practitioners have not only specialist accounting knowledge but also management and marketing skills. This paper reports a study of the level of marketing knowledge of three samples of Australian accountants of various seniority and experience. The results show that marketing knowledge of accountants increases with seniority. However, there is also evidence that accountants lack, in particular, conceptual marketing knowledge.     

Explaining Competitive Reactions to New Products: An Empirical Signaling Study

This article develops a conceptual model to help explain the strength of competitive reactions to new product introductions and presents the findings from a preliminary empirical investigation of this model. Being able to explain the strength of competitive reactions to new product introductions is important, as such reactions often determine a product's success or failure in the marketplace. To explain these reactions Oliver Heil and Rockney Walters investigate competitive market signals associated with new product introductions and the reactions of competing firms to the signals. The authors empirically test the hypothesized linkages among three market signals—hostility, consequences and commitment—and competitive reactions using primary data collected from a large number of US corporations. The empirical results show that the market signaling variables explain a significant portion of the variance in the perceived strength of competitive reactions to new product introductions. The study has implications for managers introducing new products and for researchers studying new product introductions and competition.     

The Effectiveness of Post-Disaster Recovery Marketing Messages—The Case of the 2009 Australian Bushfires

An understanding of how best to communicate with the tourism market in the wake of a disastrous event is essential for destination marketing organizations seeking to manage the misperceptions and media-imposed attitudes held by potential visitors. To date, the literature remains silent in terms of the types of messages destination marketing organizations are best to employ when a disaster has hit and consequently marketers often take an “ad hoc” approach to their post-disaster communications that may or may not be effective in terms of encouraging visitation. In response to this knowledge gap, the research presented in this article adopted an experimental methodology to examine the effectiveness of nine disaster recovery message themes commonly used by destination marketing organizations. The messages were presented to respondents via a print advertisement promoting the Victorian region of Gippsland—a tourism region severely affected by the 2009 Black Saturday Bushfires. The results revealed that a marketing message endorsed by a well-known and well-associated celebrity figure is likely to be most effective in encouraging tourists to return to or visit a disaster-affected destination 12 to 24 months following the event. The findings also revealed a significant relationship between past visitation and the time frame in which visitors will visit a disaster-affected region. Those who had visited the region four times or more were much more likely to return within 6 months of the event than less frequent visitors. A final important message revealed in this study was the fact that the tourism market is not averse to disaster recovery promotional activities, a concern often considered by destination marketers when planning their post-disaster recovery campaigns.     

Accounting Reforms in China: Cultural Constraints on Implementation and Development

There is considerable theory and evidence to suggest that culture is an important environmental variable influencing the development of accounting systems internationally. According to the Hofstede (1980) and Gray (1988) cultural models, China's accounting development and practice should be in the cluster that supports statutory control, uniform practices, a conservative measurement approach and secrecy in disclosure. A uniform and rigid system of financial reporting has been practised for decades in the People's Republic of China under the centrally controlled economy. The accounting reforms launched since the 1980s aim to establish a new framework for regulating financial reporting which is adaptable to China's recently emerged socialist market economy. The adoption of accounting standards in the later phases of the reforms marks a dramatic turning point in China's accounting history towards a more international Anglo-Saxon orientation in financial reporting. Based on an analysis of the authority for accounting systems, the accounting profession and accounting measurement and disclosure in China, it is argued that this development will be constrained by the influence of China's culture and its accounting subculture. While financial reporting will be governed by accounting standards, their development and enforcement will remain a governmental and legalistic function. Accountants will continue to rely heavily on detailed technical rules. This mixed orientation will constitute China's unique national identity in terms of its accounting and financial reporting system.     

Is it possible to be too risk averse? Considerations for financial management in the public sector

Within the financial management discipline, risk aversion is viewed as ‘secure’ and ‘responsible’. Yet, frequently risk aversion is associated with delays, failure to take action, decreased employee morale and stakeholder frustration. This article considers the role of risk aversion within the public sector and questions whether the risk-averse nature of the organization, coupled with risk-averse leaders can result in negative outcomes for the agency. The article concludes that while risk aversion is important, there are actions that a risk-averse leader can take to minimize the implications of risk-averse behaviour on the organization as a whole.