Modern Slavery and the Discursive Construction of a Propertied Freedom: Evidence from Australian Business

Journal of Business Ethics - This paper examines the ethics of the Australian business community’s responses to the phenomenon of modern slavery. Engaging a critical discourse approach, we...     

TOTAL BENEFICIAL GAIN

This paper uses the projected cash flow statements (PCFS) to interpret various economic efficiency criteria used in selection of a project. In the process, the article brings out the relationships between IRR, payback period and breakeven analysis. PCFS are also used to derive an ‘internal’ indicator of riskiness of a project.     

Bringing Ethical Investment to Account

As the ethical investment industry in Australia matures there is a need for greater scrutiny and understanding of the potential investor's personal beliefs, the investment products on offer and the processes by which the investment universe is determined. The recent introduction of regulation requiring additional information in product disclosure statements is a step in the right direction. However, further disclosure by funds and public exposure is necessary to create a transparent and accountable investment industry.     

Learning from Greek Philosophers: The Foundations and Structural Conditions of Ethical Training in Business Schools

There is an extensive body of work that has previously examined the teaching of ethics in business schools whereby it is hoped that the values and behaviours of students might be provoked to show positive and enduring change. Rather than dealing with the content issues of particular business ethics courses per se, this article explores the philosophical foundations and the structural conditions for developing ethical training programs in business schools. It is informed by historical analysis, specifically, an examination of Platonic and Aristotelian philosophies that inspires virtue ethics, and together provides four conditions for consideration: respect for law, dialectics, imitation and deliberation. We outline the necessary structural conditions for implementing these requirements as well as suggesting the necessary pedagogical protocol applicable to all courses. It is argued that reference to our two ancient Greek philosophers provide many valuable and insightful lessons for the implementation of ethical training today including choice of theoretical content and the approach towards learning. Further, the enactment of a pedagogical protocol requires a policy of recruiting and managing business school teachers-instructors that takes into account, and consciously encourages, intellectual, relational and spiritual pedagogical qualities.     

Option introduction and insider trading in the NASDAQ/NMS equity market

This paper investigates and supports the hypothesis that insiders have an incentive to shift their informed trading activities when options initially are listed for a firm. Firm size is found to be related to the level of insider trading activity. There is a significant decrease in insider equity-market volume for the smallest third of firms, a significant increase in insider-equity market volume for the middle third of firms, and a significant decrease in insider equity-market volume for the largest third of firms. This supports the hypothesis of a difference in the degree of impact on equity volume upon option introduction based upon firm size. This research provides additional evidence of informed trading activities when option introduction, insider trading, and firm size are considered simultaneously.     

The Common Good of the Firm and Humanistic Management: Conscious Capitalism and Economy of Communion

This study examines corporate stakeholder orientation (CSO) across industries and over time prior to the introduction of mandatory CSR. We argue that CSO is a legitimacy signal consciously employed by firms to demonstrate their shareholder and specific non-shareholder orientations in the midst of institutional pressures emerging from country and industry contexts. Using a 7-code index of CSO on CEO–shareholder communications from India, we find that in general large firms in India exhibit a pre-dominant, significant and rising trend of pro-shareholder orientation in the six-year period immediately preceding the CSR law. Yet, we uncover significant industry differences in CSO potentially driven by four key factors: the degree of competitive dynamics, nature of products and services, extent of negative externalities and social activism, and exposure to international markets. Our findings support the view that while some minimum threshold of regulatory intervention is required to balance the interests of business with society, legislation raises questions in relation to the usefulness of a uniform one-size-fits-all CSR across all industries.     

The relationship between the smoothing of reported income and risk-adjusted returns

This paper uses risk-adjusted returns for the firms in the S&P 500 to test whether the stock market response to accounting performance measures is related to the smoothness of companies’ reported earnings. Three income models, increasing in their measure of smoothness, test the hypotheses using cumulative average abnormal returns. The results indicate that companies that report smooth income have significantly higher cumulative average abnormal returns than firms that do not. When size is considered, market returns are higher for small companies than for large companies. There is also a significant relationship between the type of industry and income smoothing.     

The Role of Workplace Chaplains in Industrial Relations: Evidence from Australia

This paper examines a neglected and largely invisible actor within the field of industrial relations. Taking the case of industrial chaplains in Australian workplaces, it demonstrates that not only do chaplains play an important and independent role in their own right, but that their ostensible neutrality is also used to help achieve the interests of both management and trade unions. The location of chaplains in industrial relations and their need to develop workplace legitimacy accounts for this finding. This suggests that future studies that seek to explore the purpose and activities of new and non‐traditional groups in industrial relations will need to place their analyses within the context of more established actors.     

Trade Union Mergers in British and Australian Television Broadcasting

A complex set of forces facing trade union organizations has meant that union restructuring vis-à-vis merger activity has been a prominent feature of many Western labour movements in the 1980s and 1990s. This paper is located in these structural developments, and its main contribution lies in the insights provided by an in-depth examination of recent union merger activity in commercial television in the UK and Australia. In contrast to the work of Undy et al . (1981), the results suggest that union mergers are influenced by more than changes in membership patterns, and that the delineation of merger categories may be far more complex than what has previously been identified by their model. It is argued, too, that the nature of the forces and the processes that led to the broadcasting union mergers in the UK and Australia were significantly influenced by the different institutional contexts of both countries. Finally, and related to this, it would appear that union merger outcomes (at least in the short term) are linked to the preceding processes by which merger is brought about. One policy implication of this is that anything other than a case-by-case evaluation of union mergers may be misleading.