Modelling Transparency in Disclosure: The Case of Foreign Exchange Risk Management

Abstract:  When managers choose not to disclose all the relevant information in their possession in their financial statements, there is an information gap between the managers and users and consequently a lack of transparency. We model the degree of transparency observed when disclosures of foreign exchange (FX) risk management in financial statements are compared to managerial information on FX risk management policy, as evidenced in questionnaire responses. In this comparative study of US and UK firms we find incomplete disclosure in both samples but with differing aspects. In the US case, the information gap is lower where the information has higher relevance or firms with higher financial risk (greater leverage) are signalling the extent of risk, but the gap is greater where firms are in competitive product markets. For the UK sample, the information gap is significantly lower where firms have higher financial risk or higher liquidity but the gap is greater where the shares are more closely held. We conclude that modelling and explaining this aspect of incomplete accounting disclosure in an international setting must be sufficiently flexible to accommodate national differences in managerial behaviour.     

Estimating social travel demand of senior citizens in the Netherlands

Like many other countries, the Netherlands is experiencing a sharp rise in the ageing population. As age increases, people’s mobility may decrease. However, older people have more leisure time compared to their younger (working) counterparts, and potentially spend more time on social activities. Therefore, this group can possibly increase social travel demand. However, to date, the travel demand for social activities of senior citizens has received only little attention. This paper studies trip-making for social purposes, with a special focus on the demographic ageing factors. Using social activity diary data, models are estimated to predict the number of social trips, the travel distance and mode of transport for social trips. The results indicate that the elderly of today seem to be as mobile as their younger counterparts with respect to the number of social trips. High education and involvement in clubs on average result in more social trips and full time work is found to result in fewer social trips. With regard to trip distance the results show that the average travel distance does not decrease as people get older. Full time work is found to result in longer social trips. Shorter trips were found for people in urban as well as rural areas. Trips for the purpose of visiting or joint activities tend to be longer than average. With regard to transport mode choice the results indicate that older seniors (75+) are less likely to choose the bicycle, relative to driving. No other significant age effects were found. Significant effects were found for gender, household structure, education level, car ownership, having a disability, urban density, distance and the purpose of the social activity.     

Digitalisierungsschub in Firmen während der Corona-Pandemie

Wirtschaftsdienst - Durch die Corona-Pandemie haben digitale Technologien in Unternehmen an Bedeutung gewonnen. Auf Basis einer Betriebsbefragung des Instituts für Arbeitsmarkt- und...     

Managing employee performance in an emerging economy: perceptions of Vietnamese managers

This qualitative study explores employee performance management (PM) in Vietnam from the perspectives of Vietnamese managers in three case study organizations: a state-owned enterprise, a joint venture and a private Vietnamese company. Findings suggest that western PM practices and techniques are being utilized in all three organizations and that PM is seen as an essential and strategic component of human resource management policy. These findings suggest an increasing awareness of PM in Vietnamese enterprises and a desire to improve competitiveness by developing a highly skilled and high-performing workforce.     

Information-Intensive Government and the Layering and Sorting of Citizenship

A systematic literature review identified 41 studies, including four reviews, reporting on process redesign interventions in hospitals. Success factors for the changes included mechanisms to facilitate participation throughout the process, clearly documented protocols and expectations for the health professionals which were supported by education, mechanisms to audit and provide feedback on behaviours and performance, as well as being able to hold the participating health professionals accountable. The success of process redesign methodologies is found to be highly dependent on these performance-based human resource management (HRM) practices.     

Absence Management in the Public Sector: An Integrative Model?

Workforce absence rates in Britain have been found to be higher in the public sector than the private. The Government has set ambitious targets for the reduction of public sector absence rates and published a range of recommendations. The authors look at the ways the two sectors manage long-term absence. Although many public sector organizations, as well as some large private services ones, have systems in place, this article shows that these often contain structural weaknesses, and frequently do not operate in an integrated way. It is therefore concluded that many public organizations have some way to go to achieve the holistic approach to absence management advocated by the Government.