Changing from German GAAP to IFRS or US GAAP: A Survey of German Companies

Since 1993 an increasing number of listed German companies have been publishing their consolidated financial statements in accordance with either IFRS or US GAAP. In 1998 this was approved as a substitute for the consolidated German GAAP financial statements of listed companies (§292a HGB). Our study surveys the motives that led these companies to opt for international reporting systems (IFRS or US GAAP) rather than German GAAP and considers whether these objectives have been achieved. Rather surprisingly, we find that even though companies state that their overall expectations have been met to a satisfactory degree, a detailed analysis shows that several of the ex-ante objectives have not been achieved from an ex-post point of view. Additionally, we use logistic regression analysis to show that companies choosing IFRS rather than US GAAP and vice versa differ distinctly in the objectives they pursue with their choice of international GAAP.     

Network or Independent Business? Entrepreneurs' Human,Social and Financial Capital as Determinants of Mode of Entry

When establishing a new business, entrepreneurs can decide to join a network of independent business partners rather than choose the alternative of independent business ownership. In this study, we use a probit model on a large database to study the human, social, and financial capital of French entrepreneurs who join franchising and comparable forms of networks. Results confirm that initial levels of human and social capital are significant determinants of network membership. We also show that an increase in the proportion of the project financed by debt increases the probability of joining a network. Copyright © 2014 John Wiley & Sons, Ltd.     

Explaining value chain differences in MRIO databases through structural path decomposition

Many multiregional input–output (MRIO) databases are used to calculate consumption-based accounts. Results feature in climate policy discussion on emissions reduction responsibilities; yet studies show that outcomes produced by each database differ. This paper compares the emissions associated with value chains from Eora, EXIOBASE, GTAP and WIOD. Structural path analysis identifies the largest paths in each database and the differences in common paths are calculated. For the top 100 value chain paths that contain the largest difference, structural path decomposition is used to identify the contribution each part of the value chain makes towards the difference. The results identify and quantify key flows that are the cause of difference in the databases. From these, we can conclude that key MRIO database construction decisions, such as using the residence or territorial principle for emissions allocation and whether energy spends are reallocated based on physical data, are the major causes of differences.     

Selling the invisible to create an authentic experience: imagination at work at Cézanne’s studio

ABSTRACT

The purpose of this exploratory research is to understand how visiting a particular heritage-based attraction, Cézanne’s studio in Aix-en-Provence – an almost empty place in which Cézanne painted his major works – becomes an authentic experience through consumer’s imaginative processes. Thirty-three semi-directive in-depth interviews were conducted at Cézanne’s studio at the end of attendees’ visits. Content analysis led to identifying key themes that describe how imagination at work during the visit creates an authentic experience. More specifically, results show that material dimensions (e.g. the studio setting, familiar objects, and guides) mixed with immaterial dimensions (e.g. Cézanne’s aura, stories, and atmosphere) facilitate consumers’ imagination through immersion, embodiment, and narrative transportation. The paradox of creating authenticity from nothing – the invisible – through imagination is then developed.     

Do economics journal archives promote replicable research?

Abstract. All the long‐standing archives at economics journals do not facilitate the reproduction of published results. The data‐only archives at Journal of Business and Economic Statistics and Economic Journal fail in part because most authors do not contribute data. Results published in the FRB St. Louis Review can rarely be reproduced using the data+code in the journal archive. Recently created archives at top journals should avoid the mistakes of their predecessors. We categorize reasons for archives' failures and identify successful policies.     

The economics of standardized patient education materials with veteran patients

With an increasing number of veterans seeking care, it becomes imperative that the resources within the system are used efficiently and effectively and in a manner that maintains access, safety, and quality of care. Veterans who are able to manage their own care may utilize provider services less frequently, thereby increasing access for others who require more care. The objective of this quality improvement study was to determine the effectiveness of providing a standardized self-management textbook of health information with the intent that it would decrease demand on primary care providers' time for minor health care issues. This initial quality improvement study clearly demonstrated the potential of the return on investment and the subsequent potential for increased access for veteran patients, appropriate use of limited resources, and improved patient outcomes. It also clearly demonstrated the value of interaction with the veterans to educate them about their care and the increased satisfaction individualized attention to their needs creates. That finding alone has a greater value than just economics.     

Nature’s Economy and the Human Economy

Human beings and the human economy are entirely integrated into nature’s economy—the biosphere and the ecosystems that comprise it. Society is therefore utterly dependent on the free services provided by ecosystems. But population growth, rising per capita consumption, and the use of environmentally malign technologies are steadily eroding those services. Projecting how long that process can continue without a global calamity depends on numerous uncertainties, many created by the existence of nonlinearities, thresholds, and lag times in ecological systems. A major problem is to determine how to allocate resources in various ways to solve the human predicament. Scientists have much of the information necessary for making those decisions, so the biggest problem is in the purview of social scientists. They must help to determine how best to move society from knowledge to action.     

Ethnicity,body shape differences and female consumers' apparel fit problems

This research compared body shapes, measurements, ratios and fit problems of 234 African (109) and Caucasian (125) women. A three‐dimensional (3D) full‐body scanner generated virtual body images from which circumferential, width, protrusion and height measurements were extracted. Thereafter, circumferential and height ratios were computed. Drop values of key circumferential measurements were used to classify participants' bodies that were later visually confirmed and adopted. Results revealed that triangle, hourglass and rectangle were the three most predominant shapes among African and Caucasian women. There was a significant association between the three most predominant body shapes and ethnicity. There were significant differences in some body measurements and ratios, most of which were observed between African and Caucasian triangle as well as some of the other body shapes and the Caucasian hourglass used in the apparel industry. The differences especially between Caucasian hourglass and the other body shapes may be resulting in the persistent fit problems reported by some of the predominant body shapes at some of the selected body parts. This study therefore concluded that multicultural markets need to identify characteristics of all prevalent shapes within a population in order to minimize apparel fit problems.