The issue network: reshaping the stakeholder model

Who is a stakeholder? In this paper, stakeholders are defined in terms of who has a stake in an issue instead of who has a stake in a firm, and in so doing introduces the idea of an “issue network.” Drawing on concepts familiar to the social movements (sociology) and interest groups (political science) literatures, I argue that members of an issue network can be identified as those with grievances, resources, or opportunities. To illustrate this argument, I consider the issue of land use in the western United States, showing how various environmental organizations might fit into such a land use network. I conclude with the INSPIRE model, which locates my argument in this larger model of stakeholder management currently being constructed in the stakeholder literature. Copyright © 2010 ASAC. Published by John Wiley & Sons, Ltd.     

White Privilege in Experiential Education: A Critical Reflection

Through narrative and critique, this critical analysis addresses the role and reification of privilege in the pedagogical processes of experiential education. Using whiteness as a critical and theoretical lens, we argue experiential education is a privileged pedagogy, aimed at maintaining the status quo and reproducing dominant power relations between racialized social groups. Participants, instructors, spaces, and activities often reflect the embedded whiteness of experiential education. We critically examine the use of challenge in experiential education and offer a language of possibility for future trajectories for experiential education which facilitates more just and equitable teaching and learning processes.     

Ethnic and Other Minority Representation in UK Academic Economics

Using a survey questionnaire of academic economists in the United Kingdom, we examine the representation of ethnic and other minorities. We find that nearly 12% of UK-employed academic economists are of ethnic minority origin. However, only 1% of the sample are UK-born ethnic minority. Controlling for individual and workplace characteristics, there is no significant ethnic minority effect on academic rank. However, there is a significant negative earnings effect. Further, 41% of ethnic minority economists feel that they have suffered workplace discrimination.     

Valuing remnant vegetation in Central Queensland using choice modelling

In the Desert Uplands region of Central Queensland, many pastoralists are clearing vegetation in order to improve cattle grazing production. A choice modelling study was undertaken to provide estimates of the benefits of retaining remnant vegetation that are appropriate for inclusion in a cost benefit analysis of tighter clearing restrictions. Attributes included in the choice model were reductions in the population size of non-threatened species, the number of endangered species lost to the region, and changes in regional income and employment. A nested logit model was used to model the data in order to avoid violations of the independence of irrelevant alternatives condition. The estimated benefits are reported for several tree clearing policy regimes that are more stringent than those currently applied.     

Motives and consequences of IPOs in cold periods

We analyze the motives and long-term stock price performance of firms that pursue IPOs in cold IPO periods. We find that firms are more likely to engage in an IPO during a cold period when their earnings are relatively high and are expected to decline in the future. We also find that IPO firms during a cold period are more likely to have managed their earnings prior to the IPO. Furthermore, we find that cold IPO firms experience significantly weaker stock price performance than hot IPO firms, and results are robust to different criteria for defining hot and cold IPO periods, different measures of stock price performance, and different investment holding periods. We find that investment opportunities, the backing of a venture capitalist, and an increase in earnings in the year of the IPO lead to significantly higher long term stock price performance of IPO firms. Our multivariate models confirm the adverse cold IPO period effect on stock price performance even after controlling for the IPO motives and the firm's earnings performance. Our results also hold within the post-Sarbanes-Oxley (SOX) era.     

Future Nonaudit Service Fees and Audit Quality

Prior to the Sarbanes–Oxley Act of 2002, audit partners experienced economic pressure to grow revenue from the sale of nonaudit services to their audit clients. To an auditor who is highly rewarded for revenue generation and growth, nonaudit services may represent a particularly strengthened economic bond with the client. Prior research shows that, in general, nonaudit service fees received in the current period do not impair audit quality. We examine a different setting. We propose that auditor independence can become impaired, and audit quality compromised, when clients that currently purchase relatively low amounts of nonaudit services, increase their purchases of nonaudit services from the auditor in the subsequent period. We test our prediction in the context of earnings management as a proxy for audit quality, measured by (a) performance‐adjusted discretionary accruals and (b) classification shifting of core expenses. Our results indicate that prior to the Sarbanes‐Oxley Act, rewards to the auditor in the form of future additional nonaudit service fees from current‐year high fee‐growth‐opportunity clients adversely affects audit quality. This effect is particularly strong among companies with powerful incentives to manage earnings. Our findings indicate that regulators should consider the multiperiod nature of the client–auditor relationship when contemplating policies that restrict nonaudit services, as well as the overall environment in which audit partners operate. This might include partner compensation arrangements that put pressure on audit partners to focus on increasing revenue at the expense of audit quality.     

Facilitating offshoring with enterprise technologies: Reducing operational friction in the governance and production of services

The development of cheap and robust communications technologies has lowered the cost of conducting business transactions across international boarders and opened up low wage rate global labor markets to firms facing demand for cheap and efficient service delivery. A review of transaction cost theory and operations management models of service process disaggregation reveals parallels between the how firm boundaries are determined and how certain service process elements can be disaggregated from face-to-face customer contact. This theoretical background is used to identify challenges to the effective offshoring of service processes. The competitive capability literature offers suggestions as to how firms might acquire the internal capabilities required to manage offshore service processes. Propositions are developed on how the standardized transactional infrastructure of enterprise technologies (and the organizational competencies developed by successful enterprise system adopters) may help mitigate the challenges of offshore governance.     

Analysing legal mobilisation’s potential to secure equal access to socioeconomic justice in South Africa

ABSTRACT

From the moment South Africa became a liberal democracy, the Government promised to deliver on social security for the poor. However, South African NGOs have reported that several barriers prevent poor South Africans, and black women in particular, from accessing the country’s social assistance system. Government inaction has compelled NGOs to approach the Courts. As reflected in a series of court judgements, many problems faced by the system relate to the administration of payments by South African and multinational corporations. But is this the complete story?

Applying a critical, analytical lens of legal mobilisation to explain the potential of legal mobilisation to secure progressive structural change, this article will assess the extent to which civic-based, legal advocacy aimed at securing access to social grants, and challenging the manner in which these grants have been administered, has the potential to more strategically advance socioeconomic justice and inequality for South Africa’s poor.