The influence of consumer socialisation in the home on gender differences in financial literacy

The lower level of financial literacy amongst females relative to males has been well documented in the literature. There has however been a less than compelling argument constructed as to why this discrepancy occurs. This article introduces findings showing the influence the home, particularly financial discussions in the home, has on the financial literacy levels of children and young adults. A key finding is that males have their first financial discussion in the home at a younger age than females on average, with this differential statistically significant across students of differing socioeconomic status. For males, the age of the child when they have their first financial discussion in the home influences their financial literacy levels some years later at university, even accounting for other variables such as socioeconomic status. The findings of this article suggest that financial socialisation in the home may be subject to a gender bias, which over time contributes to differential financial literacy knowledge levels between the genders.     

Relational marketing: development,debates and directions

Abstract

Relationship marketing (RM) is an umbrella term for a loose collection of ideas and concepts that emerged in different empirical contexts from the late 1970s. Informed by diverse research traditions, it represented at one and the same time an extension of existing ideas within marketing management and a very different way of thinking about marketing. Though cooperation has not been a core element of the marketing management lexicon, debates about cooperation and competition predate the 1970s. Moreover, re-engaging with relational perspectives raises important questions about managerial autonomy and about the utility of the market as a regulating force. The paper calls for the development of a more realistic theory of networks with inputs from both business and consumer marketing contexts.     

The effect of more rules‐based guidance on expense disclosure under International Financial Reporting Standards

International Financial Reporting Standards (IFRS) are often described as principles‐based; however, we show that IFRS and Australian pre‐IFRS expense‐related standards are more rules‐based than pre‐IFRS expense disclosure in New Zealand. Thus, we examine expense disclosure in New Zealand and Australia around IFRS adoption to provide evidence on the effect of more or less rules‐based standards on voluntary disclosure. First, we add to the rules versus principles‐based standards debate by finding higher voluntary expense disclosure under more rules‐based standards (e.g. IFRS). This contrasts with expectations, as we would expect fewer voluntary disclosures under more rules‐based standards as there would be fewer possible voluntary disclosures. Second, we document that New Zealand firms have significantly less voluntary expense disclosure than size‐ and industry‐matched Australian firms in both the pre‐ and post‐IFRS period. However, all measures of expense disclosure significantly improved post‐IFRS for New Zealand, whilst little change occurred for Australian firms. Thus, there is greater financial statement comparability across these countries post‐IFRS, but not full harmonization. Third, we show that the relationship between most firm characteristics and expense disclosure is weaker post‐IFRS. In addition, cross‐listed firms and loss‐making firms have a higher level of expense disclosure, as contrasted with firms in the investment and property industry which have a lower percentage of unspecified expenses but also report fewer voluntary expenses.     

Harmonization relating to auditor independence: the Eighth Directive,the UK and Germany

The European Union Eighth Directive on the approval of auditors covers auditor independence only to a very limited extent. The provisions in the five articles on this subject are far less detailed than they were in the drafts of the directive, so that almost all specific regulation is left to the Member States. An examination of the development of the articles dealing with independence and integrity shows how the need to compromise, in order to reach an agreement, frustrated the intentions of the harmonizers. This paper traces the development of the independence rules in the Eighth Directive from the avant projet through the drafts to the final directive. It assesses the extent to which pre-Eighth Directive regulation in the UK and Germany may have affected the directive and then examines the implementation of the directive in the two countries. It concludes that national culture and accounting traditions prevented harmonization of independence rules through the Eighth Directive.     

Advances in Joint Modelling: A Review of Recent Developments with Application to the Survival of End Stage Renal Disease Patients

The use of joint modelling approaches is becoming increasingly popular when an association exists between survival and longitudinal processes. Widely recognized for their gain in efficiency, joint models also offer a reduction in bias compared with naïve methods. With the increasing popularity comes a constantly expanding literature on joint modelling approaches. The aim of this paper is to give an overview of recent literature relating to joint models, in particular those that focus on the time‐to‐event survival process. A discussion is provided on the range of survival submodels that have been implemented in a joint modelling framework. A particular focus is given to the recent advancements in software used to build these models. Illustrated through the use of two different real‐life data examples that focus on the survival of end‐stage renal disease patients, the use of the JM and joineR packages within R are demonstrated. The possible future direction for this field of research is also discussed.     

How important is improving food availability for reducing child malnutrition in developing countries?

Do increases in the food supply per person in a country, i.e., national food availability, contribute substantially to reductions in malnutrition among its children? This paper sets out to answer this controversial question using panel data from 63 developing countries over 1970–1996. This paper gives evidence in support of a statistically significant and strong positive impact of national food availability on child nutrition, finding that increased food supplies have resulted in significant reductions in malnutrition since the 1970s despite population increases over the period. However, per‐capita food supplies have a declining marginal impact: their effect is quite strong for countries with very low food availability (e.g., most countries in sub‐Saharan Africa and South Asia), but weak or non‐existent for those with high levels (e.g., most countries in the Near East and North Africa). Further, non‐food factors, such as women's education and status and the quality of health environments, are also important determinants of children's nutritional status. Depending on the state of food availability in any particular geographic area and relative costs, these factors may merit greater priority in policies to reduce malnutrition.     

史蒂夫·乔布斯：用一只“苹果”改变世界

当“苹果”推出Macintosh（Mac机、苹果机）的时候，他要求用户手册写得非常易懂。他的团队说：“我们尽力了，手册只需要高中三年级水平的英语。”他的回答是：“不行，要小学一年级水平的也能读懂。”     

Cannabis, Alcohol and Cigarettes: Substitutes or Complements?

This paper uses individual level data from the National Drug Strategy Household Surveys to estimate the price responsiveness of participation in cannabis, alcohol and cigarette use. In addition to own price effects, we estimate cross price effects and the impact of decriminalizing cannabis use. We find that participation is responsive to own prices. There is some evidence that cannabis is a substitute for alcohol and a complement to cigarettes, and that alcohol and cigarettes are complements. The liberalization of cannabis laws in South Australia may have led to a temporary increase in cannabis use among the over-30 age group.