Principles and Influence in Codes of Ethics: A Centering Resonance Analysis Comparing Pre- and Post-Sarbanes-Oxley Codes of Ethics

This study examines the similarities and differences in pre- and post-Sarbanes-Oxley corporate ethics codes and codes of conduct using the framework of structuration theory. Following the passage of the Sarbanes-Oxley (SOX) legislation in 2002 in the United States, publicly traded companies there undertook development and revision of their codes of ethics in response to new regulatory requirements as well as incentives under the U.S. Corporate Sentencing Guidelines, which were also revised as part of the SOX mandates. Questions that remain are whether these new or revised codes are effective means of communicating changed ethical foci and attitudes in organizations. Centering resonance analysis (CRA) is used to identify differences and similarities across time and industries by analyzing word networks of 46 pre- and post-SOX corporate codes of ethics. Analyses focus on content and structure of generated word networks as well as resulting factors that emerged from the texts. Results are interpreted from the structuration perspective that content and structure of codes are constrained and enabled by system structures while they function to produce and reproduce those structures. Results indicate that corporate codes of ethics are formal discourses of ethics, laws, and control. Code structure has changed across time, with an increased emphasis on compliance in post-SOX codes. Implications for research and practice are discussed in light of findings.     

Does Labor Market Status Influence Self-Assessed Health?

This study examines whether individuals’ self-assessed health is related to their previous standing in the labor market and their self-assessed health at that time. We find that, once self-assessed health in the past is controlled for, none of the specified reasons behind individuals’ labor market status at that time, including the inability to find work, have a statistically significant adverse impact on current assessment of physical or mental health. We do find, however, that women obtaining a job in the past period will currently perceive that their physical health is improved, and that previously unemployed men with a job to return to in the current period also experienced perceptions of better health in the current period. We present evidence that these perceptions share a common factor with other health indicators such as sick days and quasi-objective measures of physical and mental health.     

Assessing environmental sustainability in tourism and recreation areas: a risk-assessment-based model

This paper presents a three-stage model that applies the principles of risk assessment to the evaluation of environmental sustainability in the tourism and recreation sectors. The model uses both qualitative and quantitative data. While assessing environmental risk at and from tourism and recreation areas is fundamental to sustainable management, existing methodologies rely on sets of environmental data that are often poorly linked and difficult to interpret in a holistic manner. Risk assessment is a concept that can overcome current limitations in environmental assessment methodologies. This model demonstrates its utility by assessing the environmental sustainability of two tourism and recreation sites in Ireland, with 25 environmental hazards identified at the rural Lough Derg (Shannon River) site and 29 at the relatively urban Dublin Bay site. The results show that the practical production of holistic and representative data on environmental risk from tourism and recreation areas is possible, with water quality, amenity value, traffic and transport, boating activity and noise found particularly relevant. The strengths and limitations of the proposed model are considered and compared with three existing tourism impact models: the use of sustainability indicators and two tourism-planning frameworks, limits of acceptable change (LAC) and visitor impact management (VIM).     

Financial Statement Quality and Debt Contracting: Evidence from a Survey of Commercial Lenders

We survey commercial bank lenders to better understand how they evaluate and react to variation in financial statement quality and how they view recent changes in accounting standards. A unique aspect of this study is that our respondents focus on medium‐size loans to private companies. In fact, more than 90 percent of the survey respondents primarily make credit decisions on loans between $250 thousand and $50 million. This is in contrast to prior archival research, which focuses primarily on very large loans to public firms or very small loans to private firms. We find that lenders in our sample distinguish among financial statements in terms of quality, including conservatism, primarily on the basis of accrual patterns and restatements. While this general result holds throughout our sample, financial statement quality is substantially more important for lenders making larger loans (over $10 million) as compared to very small loans (under $1 million). In addition, bank lenders are much more likely to respond to low‐quality reporting with collateral and guarantee requirements than with an increase in the interest rate charged. This finding is consistent for lenders making both larger and smaller loans. Finally, despite concerns in the academic literature, bank lenders in our sample actually hold a neutral‐to‐positive view of recent changes in accounting standards. In addition, most do not support current efforts to exempt private companies from some accounting standards.     

Tourism knowledge and neocolonialism – a systematic critical review of the literature

Despite the official end of colonialism in the twentieth century, neocolonial structures of power have kept influencing the political, socio-cultural and economic arenas worldwide. Within this scenario, the tourism academy has seen its landscape develop with its own set of power structures, which have shaped its knowledge production and dissemination. However, whether and how neocolonial forces have exerted their influence on tourism knowledge production and dissemination is still a subject of debate among scholars. This paper was conceived as an attempt to cast additional light on the nexus between tourism knowledge and neocolonialism. More specifically, through a systematic review of the articles published in tourism journals in the last decade (2007–2017), this work assesses the status of the current tourism knowledge through the lens of neocolonialist theory. Overall, this critical review highlights that with some exceptions, most of the previous reviews concerning tourism knowledge only evaluate the work published in English in highly ranked tourism journals and tend to neglect knowledge systems outside the English-speaking global centres. Furthermore, previous studies exploring structures of power affecting tourism knowledge production and dissemination present limitations in terms of the themes and perspectives identified.     

LOGISTICS SOCIAL RESPONSIBILITY: AN INTEGRATIVE FRAMEWORK

Research on the external issues that affect logistics management such as the environment, diversity, safety, philanthropy, and human rights has consisted, to date, of separate examination of these matters. This work‐to‐date has approached these topics as if each was a stand‐alone problem with differing drivers, constructs, and resolutions. However, if the research from the general corporate social responsibility literature as well as data from in‐depth interviews with logistics managers are examined, we find that these seemingly isolated topics have similar characteristics that logisticians can manage by using a much broader, organization‐wide approach to social responsibility. A framework of logistics social responsibility (LSR) is introduced with the goals of helping managers resolve social responsibility issues and providing a guide for future research efforts.     

NONPARAMETRIC KERNEL-BASED SEQUENTIAL INVESTMENT STRATEGIES

The purpose of this paper is to introduce sequential investment strategies that guarantee an optimal rate of growth of the capital, under minimal assumptions on the behavior of the market. The new strategies are analyzed both theoretically and empirically. The theoretical results show that the asymptotic rate of growth matches the optimal one that one could achieve with a full knowledge of the statistical properties of the underlying process generating the market, under the only assumption that the market is stationary and ergodic. The empirical results show that the performance of the proposed investment strategies measured on past nyse and currency exchange data is solid, and sometimes even spectacular.