Economies of scale and scope in French commercial banking industry

This paper presents estimations of economies of scale and scope in the French banking industry. Using a translog model of bank costs, the paper demonstrates the existence of economies of scale for French banks, particularly in what concerns operating costs. Economies of scale are observed in all classes of bank size. Results also suggest that cost subadditivity exists in the French banking industry.     

Audit quality, auditor compensation and initial public offering underpricing

We jointly study the impact of audit quality on auditor compensation and initial public offering (IPO) underpricing using a sample of Australian firms going public over the period 1996–2003. We find that quality (Big Four) audit firms earn significantly higher fees than non-Big Four auditors, and audit quality is positively associated with IPO underpricing. The positive relation between audit quality and underpricing is more pronounced for small issues, IPOs underwritten by non-prestigious underwriters, and those that are not backed by venture capitalists. Taken together, our results suggest that quality auditors serve as a signalling device that enhances post-issue market value of equity.     

From Tell-Tale Signs to Irreconcilable Struggles: The Value of Emotion in Exploring the Ethical Dilemmas of Human Resource Professionals

This paper explores the character of emotion (felt and displayed) and its value in understanding ethical dilemmas in work organisations. Specifically, we examine the emotional labour of human resource professionals (HRPs). Through in-depth interviews and diary study, we uncover the emotional and ethical struggles of HRPs as they search for the ‘right thing to do’ in situated interaction. Through the lens of emotion, we chart the process of how the very framing of what is deemed ‘right’ can move from the social to the moral order (Bauman, Postmodern ethics, 1993) and vice versa. Based on our findings, we contribute to understanding the linkages between emotional and ethical dilemmas, and how expectations of multiple ‘others’ at the individual, interpersonal and organisational level shape and constrain ethical choices.     

Reaction of Bank Stock Prices to Loan-Loss Reserve Announcements

Significant own and contagious stock-price effects of bank LLR announcements exist despite the fact that these accounting adjustments have no concurrent cash-flow implications. Consistent with expected information effects, negative abnormal returns surrounding LLR announcements tend to be much more important in the case of regional as opposed to money-center banks. Accounting measures of bank soundness, and possibly regulatory pressure, appear to influence the market's assessment of LLR information for both announcing and nonannouncing banks.     

Servicescape and shopping value: the role of negotiation intention,social orientation,and recreational identity at the Istanbul Grand Bazaar,Turkey

ABSTRACT

This paper examines the influence of negotiation intention, recreational shopper identity, and social shopping orientation on both servicescape and visitors’ overall shopping value in the Istanbul Grand Bazaar, Turkey. We developed and tested a conceptual model using a sample of 300 international visitors to the Bazaar. The results demonstrate that bargaining intention, recreational functions, and social interactions influence servicescape. This implies that, when tourists are motivated by bargain hunting, recreation, and socialisation, their attitude towards the shopping environment is more positive, which subsequently results in increased overall shopping value. Implications for managerial practice are also presented alongside suggestions for future research.     

A narrative review of Asian female travellers: looking into the future through the past

Following the rise of tourism in Asia, a growing female travel market has been observed in the region. Nevertheless, limited research has considered the travel experience of Asian women. In response to the dearth of research on Asian female travellers, this study employs a narrative synthesis approach through a postcolonial feminist lens to review the extant literature on Asian female travellers, with the aim to contribute to a cultural understanding of the historical and contemporary travel practices of Asian women. Based on this review, it is evident that Asian women’s travel behaviour is influenced by cultural identities and gender stereotypes. However, existing literature has also demonstrated the agency of Asian women in resisting discriminatory gender practices in tourism, which is represented in the transformation of the identity of Asian female travellers. Accordingly, an agenda for future research is proposed and some implications for the industry are discussed. This study addresses the western-centric and androcentric criticisms in tourism field and provides an alternative reading of women’s travel behaviour from an Asian perspective. This study has contributed to the critical tourism scholarship in Asia and has built an important foundation for future research on Asian female travellers, an area that is not well investigated.     

Travelling for Umrah: destination attributes,destination image,and post-travel intentions

This paper examines the links between cosmopolitanism, self-identity, and a desire for social interaction on perceived destination image and behavioural intentions. A model was tested using a sample of 538 Iranian visitors to Mecca for the purpose of Umrah. The result from the structural model suggests that destination attributes influence perceived destination image. Further, such tourists are likely to revisit or recommend Islamic destinations if their experience matches their perceived image of the destination. This implies that, while the religious characteristics of the destination remain important, destination managers cannot disregard the tangential, non-religious attributes of a destination which are crucial in order to satisfy more conventional tourist desires. As such, this study suggests that those managing religious travel destinations should endeavour to foster a welcoming image, where experience, interaction, and tolerance are at the forefront of the destination’s offering.     

The Geo-Social and Global Geographies of Power: Urban Aspirations of ‘Worlding’ African Students in China

This paper conceptualises the geosocial by examining the transnational connections of African student migrants and their educational experiences in Chinese cities. While there is now an established scholarship on Chinese migration to Africa, new research on the concurrent flow of African migration to China is emerging. Recent publications on African migrants in China tend to focus on the experiences of African traders, drawing out issues of illegality, ‘low-end’ globalisation and their impacts on Chinese trading cities. In comparison, this paper shifts the analytical lens to African educational migration in Chinese cities, foregrounding how global householding patterns reflect and leverage on the geopolitical and geo-economic dimensions of China-Africa relations. The paper shows that individual and family goals are negotiated through educational migration that, on the one hand, is concerned with accumulating human and cultural capital through a learning stint in Chinese cities, and on the other hand, is framed by perceptions of China-Africa relations. The paper argues that through educational migration, transnational social reproduction links Africa with China, but the social differentiation and everyday sociality that the African students experience in Chinese cities reinforce racial coding and development asymmetries. In so doing, the paper draws out how the geosocial reflects and constitutes the geopolitical and geo-economic dimensions of transnationalism.     

The legitimation of risk and Bt cotton: a case study of Bantala village in Warangal,Andhra Pradesh,India

This article explores Ulrich Beck’s theorisation of risk society through focusing on the way in which the risk of Bt cotton is legitimated by six cultivators in Bantala, a village in Warangal, Andhra Pradesh, in India. The fieldwork for this study was conducted between June 2010 and March 2011, a duration chosen to coincide with a cotton season. The study explores the experience of the cultivators using the ‘categories of legitimation’ defined by Van Leeuwen. These are authorisation, moral evaluation, rationalisation and mythopoesis. As well as permitting an exploration of the legitimation of Bt cotton by cultivators themselves within the high-risk context of the Indian agrarian crisis, the categories also serve as an analytical framework with which to structure a discourse analysis of participant perspectives. The study examines the complex trade-off, which Renn argues the legitimation of ambiguous risk, such as that associated with Bt technology, entails. The research explores the way in which legitimation of the technology is informed by wider normative conceptualisations of development. This highlights that, in a context where indebtedness is strongly linked to farmer suicides, the potential of Bt cotton for poverty alleviation is traded against the uncertainty associated with the technology’s risks, which include its purported links to animal deaths. The study highlights the way in which the wider legitimation of a neoliberal approach to development in Andhra Pradesh serves to reinforce the choice of Bt cotton, and results in a depoliticisation of risk in Bantala. The research indicates, however, that this trade-off is subject to change over time, as economic benefits wane and risks accumulate. It also highlights the need for caution in relation to the proposed extension of Bt technology to food crops, such as Bt brinjal (aubergine).     

How Do Auditors Address Control Deficiencies that Bias Accounting Estimates?

Auditors commonly rely on reviewing management's estimation process to audit accounting estimates. When control deficiencies bias the estimation process by creating omissions of critical inputs, standards require that auditors replace or supplement review of management's estimation process with tests that can identify the omissions. Importantly, overreliance on reviewing management's estimation process when it has been biased by a control deficiency can result in auditor acceptance of an inappropriate accounting estimate. We use an experiment to examine whether auditors recognize the insufficiency of increased sampling of a biased estimation process and their selection of alternative tests to replace or supplement review of the biased estimation process. We find that a significant minority (33 percent) of Big 4 senior auditors erroneously increase tests of management's biased estimation process. We also find that auditors have difficulty selecting alternative tests to replace or supplement review of management's biased estimation process, frequently choosing tests that are either ineffective or inefficient. Our findings suggest that auditors often reach inappropriate judgments about the capability of audit evidence to address control deficiencies and that nonsampling risk (judgment risk) may be a larger risk than auditors realize.