How Prepared was Australia for International Financial Reporting Standards? The Case of Listed Firms

We measure the preparedness of listed firms for international financial reporting standards (IFRS) by changes in explanations from Australian GAAP to IFRS between the half-year and annual accounts. About one-third of sample firms changed their explanations for earnings, cashflows or equity by averages of about −7%, 67% and 3% respectively. Most changes are less than 5% for earnings and equity, and tax is the item most commonly revised. More profitable firms and firms with more reconciling items are most likely to change an explanation. In a telephone survey of chief financial officers, 70% revealed that the change followed an incorrect application of an accounting rule in the half-year accounts.     

Non‐profit vulnerability: An exploratory study

This mixed‐method study explores the symptoms and potential causes of non‐profit vulnerability within the Australian context. Following two focus groups with CEOs and Chairs of non‐profit organizations, an online survey was developed, pilot tested and distributed to non‐profit CEOs. Our findings suggest three symptoms that might be particularly useful in identifying non‐profit vulnerability: a substantial increase in unit costs/delivery hours; a substantial increase in the proportion of administration to program expenses; and a reduced ability to pursue the organization's mission. The results also suggest various potential causes of non‐profit vulnerability; in particular, Board inadequacies; External environmental threats; Project management issues; and Funding constraints.     

Predictive spatial network analysis for high-resolution transport modeling,applied to cyclist flows,mode choice,and targeting investment

Betweenness is a measure long used in spatial network analysis (SpNA) to predict flows of pedestrians and vehicles, and more recently in public health research. We improve on this approach with a methodology for combining multiple betweenness computations using cross-validated ridge regression to create wide-scale, high-resolution transport models. This enables computationally efficient calibration of distance decay, agglomeration effects, and multiple trip purposes. Together with minimization of the Geoffrey E. Havers (GEH) statistic commonly used to evaluate transport models, this bridges a gap between SpNA and mainstream transport modeling practice. The methodology is demonstrated using models of bicycle transport, where the higher resolution of the SpNA models compared to mainstream (four-step) models is of particular use. Additional models are developed incorporating heterogeneous user preferences (cyclist aversion to motor traffic). Based on network shape and flow data alone the best model gives reasonable correlation against cyclist flows on individual links, weighted to optimize GEH (r² = 0.78, GEH = 1.9). As SpNA models use a single step rather than four, and can be based on flow data alone rather than demographics and surveys, the cost of calibration is lower, ensuring suitability for small-scale infrastructure projects as well as large-scale studies.     

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.     

Non‐Recognition of Print Advertising: Emotion Arousal and Gender Effects

Research in the behavioral sciences has found that memory tends to be enhanced by exposure to emotion‐arousing stimuli. While this relationship is not fully understood, the linkage appears to be more pronounced for females than for males. While the majority of prior studies dealing with memory have relied on the use of visual stimuli in a clinical experimental setting, this research examined the impact on memory resulting from exposure to actual print advertisements of varying degrees of arousal‐producing content. Differences in the relationship between arousal and memory were explored for male and female participants. In general, females were found to exhibit higher memory levels than males. As a single combined group, subjects exposed to emotion arousing versus emotion neutral ad. stimuli exhibited no significant difference in memory. For the set of emotion neutral ad. stimuli, no difference in memory was found between sexes. However, retention was significantly higher for females than males for the set of emotion‐arousing stimuli. The study identifies opportunities for further applied memory research.     

The Beginning of the Road to Recovery?

In this most convulsive and confus- ing time in modern American finance, one point stands out: Credit market fail- ure has pushed the economy to the edge, and policymakers are scrambling to pull it back. When investors began to flee the heretofore safe harbor of money-market funds in favor of Treasury bills that guar- anteed a mere 0.04% return, it was plain that confidence in the financial system was breaking down. The government's ad hoc approach, intended to prevent failing institutions from collapsin...