Implementation, communication and benefits of corporate codes of ethics: an international and longitudinal approach for Australia, Canada and Sweden

This paper examines the implementation, communication and benefits of corporate codes of ethics by the top companies operating in Australia, Canada and Sweden. It provides an international comparison across three continents. It is also based on a longitudinal approach where three national surveys were performed in 2001–2002 and replications of the same surveys were performed in 2005–2006. The empirical findings of this research show in all three countries that large organisations indicate a substantial interest in corporate codes of ethics. There are, however, differences in the ways that the companies in each country implement and communicate their corporate codes of ethics and the benefits that they see being derived from them. The longitudinal comparison between 2001–2002 and 2005–2006 indicates changes in the implementation, communication and benefits of corporate codes of ethics in the three countries.     

Discrimination and Well-Being in Organizations: Testing the Differential Power and Organizational Justice Theories of Workplace Aggression

People may be subjected to discrimination from a variety of sources in the workplace. In this study of mental health workers, we contrast four potential perpetrators of discrimination (managers, co-workers, patients, and visitors) to investigate whether the negative impact of discrimination on victims’ well-being will vary in strength depending on the relative power of the perpetrator. We further explore whether the negative impact of discrimination is at least partly explained by its effects on people’s sense of organizational justice, and whether the strength of mediation varies according to the source of discrimination. Using survey data from 1,733 UK mental health workers, a structural equation model was designed to test these hypotheses following a bootstrap approach. Discrimination from all sources was related to well-being, with that from managers having the strongest effects. The results support an explanation of the effect of discrimination on well-being in terms of organizational justice perceptions for discrimination from managers and from visitors, but less so for discrimination from co-workers or from patients. The study highlights the importance of differentiating amongst sources of discrimination at work and the salience of organizational justice perceptions in explaining the effects of discrimination from some sources.     

Owner-managers,clusters and local embeddedness: small firms in the Sheffield (UK) metal-working cluster

The primary objective of this paper is to explore the ways in which the characteristics of owner-managers influence the extent to which their firms are embedded within local clusters of economic activity. Data are drawn from an interview survey of a random sample of small metal-working firms in Sheffield, UK. The data are analysed using non-parametric statistical methods to test bivariate relationships. Owner-manager attributes are found to have no influence on the extent of the use of local material supply networks but they do influence the extent of dependence on local markets. Owner-managers born and bred in the local region with limited formal education, working as an operative (rather than executive) prior to start up and with many years experience are more likely to rely on local markets. Owner-manager characteristics are also linked to participation in business networks. Those with most experience and those previously working for large firms are more likely to participate. It is concluded that owner-manager attributes can be important in explaining the level of embeddedness of small firms in a cluster of economic activity and that such attributes need to be built into theories of cluster behaviour.     

Varieties of CSR: Institutions and Socially Responsible Behaviour

A central concern within contemporary socio-economics has been on the relationship between national institutional configurations and societal outcomes. In this paper, we assess the relationship between legal origin and a range of correlated indicators of social responsibility, focusing on socially responsible investing and voluntary charitable giving. We found that in Common Law contexts, lower levels of social responsibility than in Civil Law contexts, other than in the area of charitable giving, where the converse was the case. We explore the reasons for this distinction, and for the different patterns encountered in post-socialist Central and Eastern Europe. Based on the findings, we identify directions for future research.     

Agroecological tourism: bridging conservation,food security and tourism goals to enhance smallholders’ livelihoods on South Pentecost,Vanuatu

Smallholder farmers continue to make up the largest proportion of the world's disadvantaged. Rural smallholders in the South Pacific are particularly vulnerable to climate change, underinvestment and growing competition for land and resources. Strengthening synergies between agriculture and tourism through avenues such as agritourism has been widely discussed; however, very little research has approached these concepts from a sustainability perspective. This case study of rural Ni-Vanuatu smallholders uses the Agroecology and Sustainable Rural Livelihoods Framework (ASRLF) to explore tourism's potential contribution to improved conservation and food security outcomes. Data collection combined participatory methods such as “storian sessions” with analysis of secondary data.

The findings highlight minimal current opportunities for rural Ni-Vanuatu smallholders to gain significantly from the tourism sector in Vanuatu. The shift from traditional gardening systems to cash cropping monocultures is also conflicting with tourism and conservation goals. This paper puts forward agroecological tourism as a strategy for integrating positive conservation, food security and livelihood outcomes for rural smallholders. It defines agroecological tourism as having a primary focus on the interpretation of sustainable traditional agroecosystems which exhibit cultural and heritage significance. Agroecological tourism has potential to support traditional practices, enhance the preservation of cultural knowledge and promote sustainable farming practices.     

TOO MUCH REGULATION?

This paper considers the purposes that regulation and supervision of financial institutions are designed to serve. Historical experience with regulation and supervision is considered, and it is argued on the basis of that examination that a fairly 'light touch' in regulation is likely to achieve the objectives that governments and citizens require regulation to achieve. Accordingly, the paper concludes that when regulation is evaluated and compared with unregulated systems, one should be careful to compare fallible regulation with fallible markets, rather than implicitly assuming regulation is perfect. Otherwise over-regulation will result.     

European Market Reaction to Audit Reforms

Abstract

This paper investigates European stock market reaction to events associated with the proposed EU audit reforms that were ultimately implemented in 2016. These include, inter alia, mandatory audit firm rotation, prohibition of non-audit services, and fee caps. We find that investors react positively to the proposals, lifting aggregate market value by approximately €108,630 million. In cross-sectional analysis at both country and firm level, we find that these net benefits arise from the prohibition of non-audit services and the placing of a cap on total fees charged by the auditor. Furthermore, we find investors in firms with low earnings quality appear to perceive the greatest benefits from the proposed reforms.