The Distributional Impact of Selected Commonwealth Outlays and Taxes and Alternative Commonwealth Grant Allocation Mechanisms

This article examines the redistributive impact of Commonwealth outlays and taxes (including outlays directed through and to the States)and two possible alternative systems of distributing Commonwealth funding amongst the States.     

Free Agency and the Allocation of Labor in Major League Baseball

In this paper we examine the allocation of labor under free agency by developing and testing a model to predict the migration of free agents. Data for individual players are used in a logit model that estimates the probability that a free agent will change teams as a function of several independent variables. Along with other authors, we find that free agents tend to migrate to big cities. In addition, we find evidence that the allocation of labor may be different under free agency than under the reserve clause and suggest a reason why Coase's theorem may not be applicable to this labor market.     

Static profitability as a measure of deviations from the competitive norm

Recently, several industrial-organization economists have claimed that the rate of return on sales (II/S) is superior to the rate or return on assets (II/K) as a measure of monopoly power. This paper argues that there is no reason to prefer one index over the other. To make the point, an oligopoly model of optimizing agents is derived that yields II/K as a performance measure. The derivation leads to natural interpretations of the two indices and therefore to clarification of the circumstances under which each might be preferred.     

Associations between workers' health,and non-standard hours and insecurity: the case of home care workers in Ontario,Canada

This article examines associations between home care workers' health, and non-standard hours and insecurity. Health refers to symptoms of stress and musculoskeletal disorders (MSDs), non-standard hours refer to part-time and casual hours, and insecurity refers to job and employability insecurity. Data come from our 2002 survey of 532 home care workers (nurses, therapists and personal support workers) in a medium-sized city in Ontario, Canada. Path analysis regression results for the conceptual model show that (1) part-time and casual hours and job insecurity are positively and significantly associated with symptoms of stress, (2) the associations between part-time and casual hours and MSDs are mediated by symptoms of stress, and (3) job and employability insecurity are directly associated with MSDs. Results provide evidence that non-standard hours and insecurity must be addressed in order to improve home care workers' health. We show the detrimental effects of non-standard hours and insecurity on workers' health, and the results have implications for employers, human resource managers, trade unionists and government policy-makers.     

The changing landscape of American Banking: The impact of Riegle-Neal

The Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994, which became fully operative on June 1, 1997, eliminated virtually all interstate banking and branching restrictions in the U.S. It was assumed that banks and bank holding companies would use their new geographic freedom to expand across state lines through mergers, acquisitions, and the establishment of de novo facilities. There was considerable concern that there would be fewer but more sizable banks that would abandon or increase fees for smaller customers including individuals, businesses, and rural communities. This paper provides an early glimpse at the accuracy of these predictions by studying the changes in the number and size of banks serving the Seventh Federal Reserve District since the enforcement of Riegle-Neal.     

Professionalism, Ethical Codes and the Internal Auditor: A Moral Argument

This paper examines the case of the internal auditor from a sociological and ethical perspective. Is it appropriate to extend the designation of professional to internal auditors? The discussion includes criteria from the sociology literature on professionalism. Further, professional ethical codes are compared. Internal auditors' code of ethics is found to have a strong moral approach, contrasting to the more instrumental approach of certified professional accountants. Internal auditors are noted as using their code of ethics to help resolve professional ethical dilemmas.     

Public and private sector auditors and accruals quality in English NHS hospital Trusts

To promote auditor independence and audit quality in English NHS Trusts the Audit Commission regulates auditor rotation, fees and the appointment of its own and private sector auditors. NHS sanctioned departures from GAAP, some of which allow the financial breakeven target to be achieved, have been criticised by the Audit Commission as detrimental to financial discipline. In this paper, we investigate the association between abnormal accruals and the achievement of financial breakeven in NHS hospital Trusts over the period 1998–2005. We also investigate the association between abnormal accruals, audit fees and the Trusts audited by public and private sector auditors. We find evidence that abnormal accruals are used to achieve financial breakeven and they differ across different types of auditor. We also identify a negative relationship between abnormal accruals and NHS Trust star ratings. These findings raise questions about the ‘quality’ of NHS audit where compliance with NHS-specific regulations overrides the wider GAAP-based requirement for financial statements to show a true and fair view and they warrant reconsideration of the nature of audit in NHS Trusts.     

mortgage interest tax relief reform

Mortgage interest tax relief is unjustified, say Professor Roy Wilkinson, of the Sheffield University School of Management, and Margaret Wilkinson. They argue that it should be phased out.