From Member of the Company to Registered Auditor: The Role of the External Auditor in Corporate Governance

Corporate governance has often been defined in a narrow way as comprising 'the range of control mechanisms that protect and enhance the interests of shareholders of business enterprises' ( Fama and Jensen 1983 ). In the corporate governance literature there has also been a general focus on the structure and functioning of boards of directors and the responsibilities of audit committees in relation to external auditing ( Rosenstein and Wyatt 1990 ; Shleifer and Vishny 1997 ). This article looks at the evolution of the role of external auditing in corporate governance. The role of the external auditor has changed through time, and consequently it should not be assumed that the role of external auditing is fixed or that it cannot be changed to meet societal needs and expectations. This observation leads to the primary argument of our article, which is that the role of the external auditor in corporate governance ought to be expanded in order to enhance the effectiveness of corporate governance for the benefit of a wider spectrum of stakeholders and society generally.     

Kings and Vikings: on the dynamics of competitive agglomeration

This paper proposes a theory of competitive agglomeration—a new enquiry into the origins of hierarchical structures and governments. As a motivating example we analyze the Viking age—the roughly 300 year period beginning in 800 AD—from the perspective of the economics of conflict. The Viking age is interesting because throughout the time period, the scale of conflict increased—small scale raiding behaviour eventually evolved into large scale clashes between armies. With this observation in mind, we present a theoretical model describing the incentives both the defending population and the invading population had to agglomerate into larger groups to better defend against attacks, and engage in attacks, respectively. We tentatively postulate that competitive agglomeration during the Viking era was a key impetus to state formation in Europe.     

How consumer shopping orientation influences perceived crowding, excitement, and stress at the mall

While a few researchers have started to chip away at the notion that retail density is always negative, extant studies do not empirically address the question of why some shoppers respond negatively to a specific level of density while others respond positively. We examine this issue by drawing upon field theory (Lewin 1939) to shed light on how shoppers vary in terms of deeper motives (McClelland 1953) to seek control or intimacy with others in retail mall settings, and whether these motives influence shopping orientations. Shopping orientation is then hypothesized to affect perceptions of crowding, and, in turn, subsequent affective responses to the mall shopping experience. Moreover, we examine whether individual differences (gender and age) can help retailers segment those with different shopping orientations and the motives that influence these orientations. We found that task and social shopping orientations were influenced by deeper motives for control and intimacy. The causal relationships between shopping motive, shopping orientation, and consumers?? affective responses of stress and excitement were also discovered. Finally, we address theoretical and managerial implications of our results.     

Evolution of the chronic care role of the registered nurse in primary care

High-quality, accessible, and efficient primary care is needed as the U.S. health care system undergoes significant change. Advancing the role of registered nurses in the primary care setting is important to the solution. A large academic health center implemented five initiatives to improve the care of chronically ill patients through the expanded role of RNs in the context of the health care team. Role evolution of nurses in the pilots required some continuing education and some additional nursing support to release the pilot nurses from their usual duties. These strategies allowed the nurses to apply interventions that enhanced the coordination of care and promoted patient self-management skills. Some short-term improvements in health status were realized and barriers to self-care were identified and resolved.     

Characterizing the Real Roots for P,A, and F with Applications to Environmental Remediation and Home Buying Problems

Historically, work on multiple roots for the internal rate of return (PW = 0) equation focuses on tests for the root's uniqueness and interpreting the meaningfulness of computed roots. Instead, this article starts with problems that consist of P, A, and F cash flows. Then for all possible values of these cash flows, this article develops the boundary conditions for no, single, and multiple real roots of either positive or negative sign.

The results of characterizing these roots are applied to two examples as a foundation for conclusions about those multiple root problems and hypotheses about other problems with multiple roots. The first example is an important class of resource development projects that may require significant expenditures for environmental remediation at the conclusion of operation. The second example of buying versus leasing a home is often used to demonstrate the value of economic analysis to students.     

Apology and Ambiguity: Adolf Berle on Corporate Power

A sociocognitive foundation for transformative agency requires much deeper exploration to adequately understand the causal origins of human interests, preferences, and choices as they shape both the emergence of institutions and the process of institutional change. In the collegial spirit of rapprochement, reminiscent of earlier efforts at “bridge-building,” our central contention is that the new institutional economics of “late” Douglass C. North (2005) North, Douglass C. Understanding the Process of Economic Change. Princeton, NJ: Princeton University Press, 2005.[Crossref] , [Google Scholar] provides such a sociocognitive approach, as well as an important ontological frame for dealing with embedded agency. This agency may afford original institutional economics a complementary meta-theoretical account of how institutions are formed and changed over time.     

Innovation,embeddedness and policy: evidence from life sciences in three UK regions

This paper draws upon a survey of the life science and biotechnology regions of Oxford, Central Scotland and South West England to examine the innovation and embeddedness traits of the regions. The insights into the compositional weaknesses and strengths of the regions suggest opportunities and threats for the future development of the UK's life sciences and biotechnology. The discussion moves forward debates on biotechnology, regional innovation, regional economic development and policy by posing research questions relating to the gap of knowledge of two under-researched regions, the need for a differentiated view of regions and a public policy approach tailored towards them, as well as the prospects of ‘engineering’ high-tech regions. Some of the highlighted policy challenges are common to the three regions, while others are region-specific and reflect the variations of regional make-up and stage of development.     

Institutional Realities and Constraints on Change: The Case of SME in Russia

This article presents the results of exploratory field research investigating the impact of the enabling institutional environment and internal firm capabilities in the information technology sector in St. Petersburg, Russia. Through a series of semi-structured interviews and confirmatory research through the UNDP and UNIDO, the study finds the emerging institutional environment remains weak, unpredictable and unstable, creating challenges for SMEs to contribute to the growth and development of the Russian economy.     

Jobs mismatch and productivity impact of information technology

This paper studies the link between jobs mismatch and the impact of information technologies (ITs) on the efficiency of small service firms. From the perspective of job matching theory, the paper explores how small service firms that use ITs obtain an optimal matching between new skill requirements and workforce skills. The hypotheses suggest that optimal equilibrium will be obtained by matching IT intensity to ITs training and the proportion of workers with high educational levels. The study tests the hypotheses on a large sample of small services firms in Spain. The results confirm that matching the educational levels of the workforce with the IT intensity of the firm increases the efficiency of small service firms, while mismatch will decrease it. The contribution of IT training to firms' efficiency depends on training intensity but not on IT intensity.