Breaking the Silence: Creating User-Friendly Sexual Harassment Policies

Numerous surveys suggest that while the number of women in the work force who have experienced sexual harassment is high, the number of those who are willing to actually report incidents of harassment is far lower. To better understand the consequences of sexual harassment to women and the legal implications to the corporation, we discuss briefly the psychophysiological consequences experienced by victims, followed by a review of sexual harassment law. Next we discuss the results of our survey based on a national sample of 1500 working women. Our study examines the reasons underlying women's reluctance to report sexual harassment and identifies policies and procedures to encourage the reporting of sexual harassment. Our findings are discussed in terms of the need for organizations to develop more user-friendly sexual harassment reporting procedures.     

The electoral college: diversification and the election process

The basic financial principle of diversification is applied to the U.S. Presidential election process. Applying this principle shows that the current Electoral College system may offer significant advantages over a direct voting system. Calls for an abolishment of the Electoral College may be premature if the goal of the election process is to ensure accurate results.      

Board Antecedents of CEO Duality and the Moderating Role of Country‐level Managerial Discretion: A Meta‐analytic Investigation

CEO duality reduces boards’ monitoring capacity. But governance substitution theory holds that boards of directors who can effectively monitor their CEOs are more likely to adopt the CEO duality governance structure. By examining relationships between board characteristics underlying their monitoring capacity and CEO duality, we bring evidence to bear on governance substitution theory. Further, by applying a managerial discretion theory lens to CEO duality, we extend governance substitution theory to the cross‐country context where institutional features vary in their constraints on managerial discretion. Meta‐analytic results from a dataset of 297 studies across 32 countries/regions provided support for the majority of our predictions. As predicted, board independence and certain types of board human capital were positively related to CEO duality. Unexpectedly, board ownership was negatively related to CEO duality. Additionally, country‐level managerial discretion significantly moderated the board independence‐ and human capital‐duality relationships (but not the board‐ownership‐duality relationship) as predicted.     

The implementation of a code of ethics: The early efforts of one entrepreneur

Attention is being focused on the tone at the top in businesses in the United States with the publication of the Report of the Commission on Fraudulent Financial Reporting. There has been growing discontent with the quality of ethcial behavior in the business society and at the present moment many American companies are developing — or revising — codes of ethics and establishing procedures for their implementation. Yet, there is some question about the success of such efforts.This article describes the efforts of an early American entrepreneur to develop a code of ethics and to implement it throughout his organization during the early years of relatively rapid growth. The code was introduced in 1913 and was supported through a variety of means in which the leader himself participated. That early code continues to be reissued as the company updates its overall code of ethics. The persistent and seemingly genuinc commitment to ethical behavior throughout the company was evident in all aspects of the leader's behavior. Mary Ellen Oliverio (PhD, Columbia; CPA, New York State) is Professor of Accounting, Graduate School of Business, Pace University, New York, New York, 10038. She is the author of several textbooks and has had articles published in a number of professional journals, including the CPA Journal, Internal Auditor, and Internal Auditing. She is currently conducting a study on the role of the internal auditor in the performance of the external audit.     

Biblical Safeguards and Traditions as Potential Guidance for the Lending of Monies

Some individuals and businesses have become increasingly dependent upon multiple financing sources for economic survival. Certain currently used lending policies, such as interest-only loans and revolving credit lines, may encourage borrower dependency on the lender. The paper reviews religious teachings, specifically religious safeguards on lending identified in primary Jewish sources including the Tanach and rabbinic teachings, and finds that the safeguards in place centuries ago may still be relevant for lending practices today to both protect the borrower while still providing a profitable means to help borrowers. Ellen J. Lippman is an Associate Professor of Accounting at the Robert B. Pamplin School of Business Administration, University of Portland. She is a past fellowship recipient, awarded by the Wexner Heritage Foundation. She has published in Transportation Law Journal, The Logistics and Transportation Review, AICPA Professor-Practitioner Cases, and the Journal of Accounting & Business Research. Her recent accounting research considers accountant culpability during the Holocaust.     

Economic and Financial Climate Change: A Business Economist's Perspective

Over the past 50 years, one of the key elements of the evolution of the world economy has been the increasing complexity of financial transactions. This complexity is manifested in financial layering and disintermediation that has increased risk in the real as well as the financial sectors. The consequences of an adverse outcome of this risk are obvious in the current economic situation. This paper analyzes the imbalances that have arisen between the real and financial sectors and the consequences of the ballooning of the financial sector without producing positive contributions to the real sector and increasing risk to both. It calls for restraint on excesses of financial innovation and risk taking that cannot be held in check by market forces alone.     

中国投资者着眼应对股市寒流

那些对中国股市有疑心的人预计今年大市会进一步走淡，而投资者对去年那种“来者不拒”的心态也产生了动摇。     

Trajectories for Modernizing Local Governance: Revisiting the Flanders Case

Local government plays a central but altering role in local governance. Together with the shift from a night-watchman state to a welfare state , the models of governance provision changed. Government itself became larger and more scattered throughout the local community. Moreover, government was no longer the only governance provider. Many actors were involved in governance with a diversity of steering relations. In our time, governance continues to change. What are the emerging models of local governance today? After sorting out some terminological and methodological issues, we describe four emerging ideal-type models (i.e. the holding model , the autonomous networks model , the implementation model and the reintegration model ), based on four societal scenarios (i.e. triumphant markets , hundred flowers , creative societies and turbulent neighbourhoods ). The models represent four possible local governance futures. Next, the models are applied on two management issues: organizational structure and financial management. Finally, some embryonic evidence is given on the emergence of the models.     

A small country's high-tech dilemma: the challenge facing new technology-based firms in Norway

Judging from their profit trends, new technology-based firms have not been very successful in Norway. After ten or more years of activity, fewer than half a dozen has accumulated profits over £1 million. Those that risked large initial investments in order to standardize an innovative new technology enjoyed the greatest amount of success. Most firms were able to develop a prototype, but many had great difficulties gearing up for production. Insufficient financing and know-how were the main problems. Firms have had more problems with production than with marketing, but very few seem prepared for the costs and challenges of an international marketing effort. Most lacked a clear marketing strategy or business plan. Financing was often a problem: there was little private investment, and equity capital was often scarce with a mean debt to equity ratio of less than 30%. Most firms received some sort of public funding, usually in support of product development, but so far it has had little impact on profit trends. A multi-national follow-up study with access to a larger data base would provide many more insights.