The Impotence of Accountability: The Relationship Between Greater Transparency and Corporate Reform

This paper explores the role of accounting in the attempted reform of the corporation during the “progressive era” in the United States. Focusing on the activities of three institutional bodies in the early twentieth century, the paper documents how their repeated recourse to “publicity,” which relied crucially on accounting technologies, failed to turn the corporation into an entity more sensitive to the public interest. Specifically, two interrelated contributions are made to existing literature on accounting and corporate governance. Firstly, the paper documents the early historical development of the now taken‐for‐granted phenomenon of accounting and adjudicating at the entity level (Miller and Power 2013). Secondly, the paper offers a rejoinder to present‐day projects of corporate governance which identify better and enhanced accountability as key to the successful reform of the corporation. During the progressive era, accounting expanded and territorialized new spaces, bringing trusts out of a hitherto secretive, private realm and into the view of the public. Yet this was not enough to engender substantive corporate reform.     

Optimal Concentration and Deadweight Losses in Canadian Manufacturing

When economies of scale are impontant, there may be too many firms in a market to effectively exploit these scale economies. Although more firms imply reduced market power, this may not offset the adverse impact of higher unit cost. We explore this trade-off by estimating for 107 Canadian industries optimal concentration, this being the concentration that maximizes, for given firm conduct, producers and consumers' surplus. We then calculate deadweight losses as the difference between total surplus at optimal concentration and total surplus at current concentration levels. Among the conclusions are that the majority of industries have concentration that is too low.     

The Tourism Workforce and Policy: Exploring the Assumptions using Crete as the Case Study

The size of the tourism workforce has grown rapidly to the extent that today, travel and tourism is considered to be the world's largest employer. The potential of tourism for generating jobs in areas where there are few other alternatives for employment has resulted in many governments electing to expand their tourism industry. Nevertheless, tourism has been criticised for creating part-time, seasonal, low quality and informal jobs often occupied by migrants and females. This paper sets out the main characteristics of the tourism workforce as reported by academic papers, identifies whether the same characteristics are evident on the island of Crete (Greece), and discusses the issues surrounding tourism policy formulation in relation to the tourism workforce of Crete. The conclusion is that very often jobs in tourism are judged, and responses formulated, on a normative (value laden) basis (an ideal) without full consideration being given to the actual (technical) underpinnings and implications.     

Why are some favourite-longshot biases positive and others negative?

Most studies of both pari-mutuel and fixed-odds betting markets have shown a systematic tendency for the expected return to bets at lower odds to exceed those at higher odds. Some work, however, has revealed in certain markets the absence or even reversal of this bias. We present a model which distinguishes two separate types of bettor, and use this to demonstrate how transactions costs, the extent of public information, and consumption benefits of betting can explain the disparities. Our empirical evidence, taken from a fixed-odds market, lends support to our theoretical conclusions.     

Crisis, Committees and Consultants: The Rise of Value-For-Money Auditing in the Federal Public Sector in Canada

This paper investigates the key drivers behind the origins of value-for-money (VFM) audit in Canada and the aims, intents, and logics ascribed by the original proponents. Drawing on insights from governmentality and New Public Management, the paper utilizes analysis methods adapted from case study research to review a wide range of primary documentation (e.g., Hansards from the Public Accounts Committee, House of Commons debates, the so-called Wilson report and the FMCS study) and secondary documentation (newspaper articles, Office of the Auditor General internal publications, journal articles). Major findings indicate a rise of a management consulting culture within the Auditor General’s office following the appointment of James Johnson Macdonell. VFM legislation effectively operationalized practices drawn from management consulting expertise by invitation of the consultant. It was offered as an answer to the growing scope and size of government, which had become problematized by the Auditor General in terms of parliament losing control over the public purse. The Auditor General’s invocation of financial crisis led to a substantial broadening of mandate and increase in resources for that office.     

Chinese Cultural Values and Personal Referral Sources in International Education Choice

China offers the greatest growth potential for international education across the global markets. To better understand the motivations of students, a survey of 420 university students was conducted and results revealed that students who rated abasement and personal activity orientation as important values were more likely to find personal referral sources influential. Students who rated situation orientation and interdependence as important values were less likely to find personal referral sources more influential. However, there is no significant difference in authority, face, and group orientation. This suggests the complex role of Chinese cultural values in the process of globalization and industrialization.