Brand as Promise

Journal of Business Ethics - Brands are widely regarded as a constellation of shared associations surrounding a company and its offerings. On the traditional view of brands, these associations are...     

Repetitive disclosures in the MD&A

This study is the first to empirically analyze repetitive disclosures in the Management Discussion and Analysis (MD&A) section of the 10‐K filing. Repetitive disclosures refer to the extent that content in the MD&A is repeated from the audited financial statement notes. I empirically analyze repetitive disclosures in the MD&A section of the 10‐K filing, and find that firms tend to use more repetitive disclosures when firms have a new CEO, a high level of new disclosures in the notes, issued equity, and have missed the prior year's earnings benchmark. These findings suggest that not all managers use repetitive disclosures to simply obfuscate disclosures. Rather, some managers use repetitive disclosures to emphasize firm‐specific events, consistent with the succession hypothesis. The Securities and Exchange Commission (SEC) states that repetitive disclosures are uninformative and that such disclosures decrease the informativeness of other disclosures in the MD&A. Casting doubt on the SEC's comments, in my primary analyses, I find that repetitive disclosures are informative to investors; this result is stronger for individual investors. Overall, my results suggest that repetitive disclosures are informative, and such disclosures may be effective tools for providing information to investors.     

Right answers and right-wrong answers: Sources of information influencing knowledge of nuclear-related information

Surveys in 2008 and 2009 asked almost 6000 United States residents to indicate their knowledge about the use of nuclear and other sources of energy, and the disposition of nuclear waste. Less than 10% of respondents knew where spent commercial nuclear fuel is stored. With regard to knowledge about fuel for electrical energy, respondents overestimated solar and wind use and underestimated coal use. These responses are consistent with mass media coverage of these issues. The mass media were the source of information for the vast majority of respondents. However, the likelihood of right answers to our questions increased as reliance on the mass media decreased, and it increased with use of books, magazines, personal contacts and the web. Educated affluent white males with strong preferences for nuclear energy disproportionately were knowledgeable. These observations demonstrate the daunting challenge of providing information about subjects that are largely distant and disconnected from the public’s lives. The Department of Energy, Nuclear Regulatory Commission, state and local health, environmental and energy agencies, and facility owners and operators have huge domestic political, national security and economic stakes in improving the factual grounding of public reactions to energy production and waste management choices.     

Resiliency or Change? The Contemporary Canada—US Border

The developed states of North America have not experienced transnational integration to the same degree as those of the European Union. Indeed, some scholars have argued that North American States and the border functions which define their territorial limits, are essentially unchanged in the face of globalisation, hardening rather than softening, and remaining unabashedly archaic and state-centred. This article suggests that although there has been considerable change in the border functions and geopolitical discourses which mediate transnationalism among the highly developed North American states – namely Canada and the United States – the nature and structure of transnational integration has remained more limited than that of the EU. It argues that the reasons for this more limited international integration agenda lie in the specific geopolitical discourses which sustain cross-border institutions and national identity before and after 11 September 2001 (‘9/11’). The Canadian state, for example, has demonstrated considerable resistance to greater levels of integration with the United States, at the same time that it has became increasingly open to cross-border trade under NAFTA. This resistance is based upon a national-identity discourse that relies upon distancing the Canadian state from its larger neighbours to the south. At the same time, however, the national security discourse which has emerged in the Canada and the United States following from 9/11, has failed to close borders to increasing levels of economic integration, and must accommodate the need for a degree of openness to the heightened levels of cross-border trade under NAFTA. As a result, there has been considerable reorganisation and reorientation of borders within North America. It is simply inaccurate to view the continent as a place where borders have remained unyielding to the broader forces of globalisation. If the role of borders in maintaining security while facilitating trade has resulted in an increased awareness of, and concern with the Canada-US border, the latter is not simply a continuation of ‘old-fashioned state-centred geopolitical concerns’ but is instead a newly-fashionedpost-9/11 response to the ramifications of globalised trade and terrorism.     

A project management approach to the implementation of development programmes within the local government sphere: An empirical analysis

Local government constitutes that part of the public sector that is closest to the inhabitants and is therefore indispensable in its role of promoting their general welfare through, inter alia, undertaking various development initiatives. Furthermore, legislation imposes upon local authorities the obligation to promote the social and economic development of local communities and to participate in implementing national and provincial development programmes. The efficiency and effectiveness with which local government fulfils its developmental role will largely depend on the ability of local authorities to manage development projects. The purpose of this article is to investigate the application of a project management approach as a tool for implementing development programmes in the local government sphere. This is done by means of a comprehensive study of the relevant literature and empirical research based on a research questionnaire that was distributed among selected municipal officials in leadership posts throughout South Africa. The findings of the empirical study are utilised to make specific recommendations with respect to the application of a project management approach to service delivery and local government development initiatives.     

The Greek financial crisis: Growing imbalances and sovereign spreads

We discuss the origins of the Greek financial crisis as manifested in the growing fiscal and current-account deficits since euro-area entry in 2001. We then extend a model typically used to explain risk premia to assess the extent to which credit ratings captured these premia. Next, we estimate a cointegrating relationship between spreads and their long-term fundamental determinants and compare the spreads predicted by this estimated relationship with actual spreads. We find that spreads were significantly below what would be predicted by fundamentals from end-2004 up to the middle of 2005; by contrast, since May 2010, actual spreads have exceeded predicted spreads by some 400 basis points.     

Speaking the same language: the relevance of neuro‐linguistic programming to effective marketing communications

Individuals process each and every encounter with the external environment using sensory system representations (pictures, sounds, feelings, etc.). Studies of neuro‐linguistic programming have indicated that each individual tends to have a preferred sensory representational system with which they will internally code these experiences. Market segments are comprised of individuals who, although possessing similarities across traditional segmentation bases, also have different preferred sensory modalities. Therefore, if consumers within any given target market segment do not all talk the same sensory language, marketers are failing to get their message across to everyone within that segment. This study is concerned with examining the efficacy of television advertising in communicating to those within a target group by exploring the links between the advertisements that ‘speak’ to them most and their preferred representational systems. It finds that participant reactions to those advertisements that they regarded as having the most effect were expressed predominantly in language relating to their preferred sensory representational systems. Furthermore, where participants with different representational systems chose the same advertisement as having the most effect, the reasons for their choice differed on a sensory basis.     

Foods and natural health products: Gaps and ambiguities in the Canadian regulatory regime

Canadian regulations have different rules for foods and natural health products (NHPs) regarding allowable health claims, requirements for use in clinical trials and good manufacturing standards and labeling requirements. How these rules apply to products at the food–NHP interface is often unclear. This paper describes the regulatory environment and explores two product examples – probiotic yogurt and green tea – to illustrate the issue. In addition, results from a qualitative study of NHP/food researchers highlights the confusion and frustration of those working in the field. Interim agreements between the NHP and Foods Directorate of Health Canada regarding products reviews provide a temporary response but regulatory amendments, accompanied by clear guidance to stakeholders, are needed.