Insights from the new conglomerates

Managers must reconsider their preconceptions about conglomerates, or multi-industry firms as they are now often called, because today's examples have much to teach us about successful corporate strategy. We examined the strategies of the largest conglomerates that have, for a sustained period, practiced the form. Four archetypes are available to managers for adding value to a broad portfolio of businesses. In top-performing firms, the bewildering diversity of end products can blind the casual observer to the intense focus of headquarters and the tight cohesion among the head office, the businesses, and the environment.     

Local Industrial Conditions and Entrepreneurship: How Much of the Spatial Distribution Can We Explain?

Why are some places more entrepreneurial than others? We use Census Bureau data to study local determinants of manufacturing startups across cities and industries. Demographics have limited explanatory power. Overall levels of local customers and suppliers are only modestly important, but new entrants seem particularly drawn to areas with many smaller suppliers, as suggested by Chinitz (1961) . Abundant workers in relevant occupations also strongly predict entry. These forces plus city and industry fixed effects explain between 60% and 80% of manufacturing entry. We use spatial distributions of natural cost advantages to address partially endogeneity concerns.     

为财务报告“瘦身”

如果我们任由公司的财务报告往不断复杂的方向发展,那么这些报告将可能失去其本来的意义--与股东有效的沟通.这种风险的存在,促使英国财务报告委员会决定对公司的报告体系进行一次调查,目的是使公司报告的编制者和相关使用者能够了解报告的复杂程度,并提出可行性意见,以便找到切实可行的办法来简化它们.     

Pandemic risk disclosure in integrated reports: after COVID-19 is hindsight 2020?

We examine whether, and to what extent companies disclosed pandemic risk and likely impact as part of their key risks or material matters immediately prior to 2020. The integrated/annual reports of 489 companies from six global regions were examined, finding that despite clear warnings from multiple fronts that highlighted the inevitability and imminence of a global pandemic, only 15.5 percent of companies disclosed anything related to pandemic risk. Of these, 71.1 percent were boilerplate in nature, providing minimal useful information to stakeholders. This study contributes to our understanding of integrated reporting, specifically regarding the adequacy of the disclosure of material risks.     

Monetary valuations of university course delivery: the case for face-to-face learning activities in accounting education

Student preferences for delivery options were obtained within a monetary framework by asking students to purchase their ideal course structure. Results show that accounting students prefer to spend more on tutorials but purchase less lecture time; the difference due to the higher cost of tutorials compared to lectures. Face-to-face classes were preferred to web-based materials. Within lectures and tutorials students prefer more time devoted to teacher-centred activities than student-centred activities. Monetary valuations, where students must take into account the cost of delivery as well as effectiveness, provide insights for teaching staff and administrators, who need to simultaneously enhance teaching and learning, satisfy student preferences and operate with limited resources. Online and/or student-centred learning may not be compatible with preferences of accounting students. Teachers need to balance calls to change educational delivery and learning activities with preferences of accounting students, or ensure they educate students on why non-preferred approaches are undertaken.