bluuebunny/crossref_metadata_2025 huggingface dataset:
KONSELING BAGI ANAK BERBAKAT AKADEMIK
Authors: Wahab Rochmat
Published: February 2017

Abstract:  Counseling  for  the  Academically  Gifted  Children.  The  number  of academically gifted children is quite high distributed in all areas. The academically gifted  children  will  be  benefecial  for  themselves  and  other  people,  if  they  can develop optimally. There are many academically gifted children who are succesful in their life; however we can find some who are in difficulty. They need counseling services.    There  are  some  important  issues  in  counseling,  especially  for  the academically  gifted  children,  such  as:  (1)  divergent  thinker,  (2)  excitability,  (3) sensitivity,  (4)  perceptiveness,  (5)  entelechy.  (6)  self-concept,  (7)  counseling with parents,  and  (8)  underachievement.  To  help  them  face  important  issues,  social-personal  counseling,  academic  counseling,  and  career  counseling  are  necessary. These  three  counseling  approaches  can be  conducted  simultaneously,  depending on their needs. The models and strategies of counseling for the academically gifted children  are  therapeutic,  preventive,  and  developmental  models.  The  choice  of models  is  strongely  determined  by  the  need  of  effective  counseling,  in  order  to achieve the optimal result. To establish the effective counseling, it is necessary that counseling services should be conducted by professional counselors.  Keywords: counseling, academically gifted children
PENGUKURAN KREATIVITAS KETERAMPILAN PROSES SAINS DALAM KONTEKS ASSESSMENT FOR LEARNING
Authors: Subali Bambang
Published: February 2017

Abstract: Measuring the Science Process Skill Creativity in the Context of Assessment for Learning. This study aims to measure the science process skill creativity in Biology in Senior High Schools (SHSs), in terms of the basic skills, process skills, and investigative skills and use them in the context of assessment for learning. The study used the learning continuum as the abstract continuum and the instruments of the divergent process science skills in Biology in SHSs developed by Bambang Subali in 2009. Two of the six instrument sets were modified and administered to 1095 students. The results show that in the process science skill creativity, the skill in data measurement is the most difficult skill among the basic skills while the observation skill is the easiest. The skill in making inferences is the most difficult skill among the process skills while the skill in making predictions is the easiest. The most difficult skill in the investigative skills is the skill in planning investigation, followed by those in reporting an investigation and making an investigation. Keywords: measurement instrument of creativity, process science skill, polytomus scale, PCM-1PL
PENGEMBANGAN KREATIVITAS KETERAMPILAN PROSES SAINS DALAM ASPEK KEHIDUPAN ORGANISME PADA MATA PELAJARAN IPA SD
Authors: Subali Bambang , Mariyam Siti
Published: February 2017

Abstrak: Penelitian ini bertujuan mengetahui seberapa jauh pengembangan kreativitas keterampilan proses sains dalam aspek kehidupan organisme melalui IPA di SD di DIY. Pengumpulan data melalui survei dengan teknik sampel gugus setelah ditetapkan Unit Pelaksana Teknis (UPT) Dinas Pendidikan yang mewakili wilayah perkotaan dan pinggiran. Hasil survei terhadap 400 guru kelas IV dan V serta 1200 grup peserta didik dari 10 UPT di lima kabupaten/kota di DIY menunjukkan hampir semua guru menyatakan pentingnya pembelajaran untuk mengembangkan kreativitas keterampilan proses sains dalam aspek kehidupan kepada peserta didik. Mereka hampir tidak pernah atau jarang membelajarkannya tanpa disertai pemberian contoh. Umumnya mereka sering melakukannya dengan disertai pemberian contoh. Tidak ada guru yang melaporkan pernah mengikuti diklat pengembangan kreativitas. Kata Kunci: kreativitas, keterampilan proses sains, pembelajaran, aktivitas kehidupan DEVELOPING CREATIVITY OF THE SCIENCE PROCESS SKILL IN THE ORGANISM LIFE ASPECT IN THE ELEMENTARY SCHOOL SCIENCE Abstract: This research is aimed to know how far the development of creativity of science process skills in the life aspect through the science subject in elementary schools in DIY. The data were collected through a survey by employing a group sampling technique after the areas had been determined by the Unit Pelaksana Teknis (UPT) of the education office which represented the city and suburb areas. The results of the survey which involved 400 elementary school teachers of grades IV and V as well as 1200 students from 10 UPT of 5 different regencies/municipalities in DIY show that almost all teachers stated the importance of developing creativity of the science process skill in the life aspect for the students. They hardly ever or seldom taught without giving examples. They often taught by giving examples. There was no teacher who stated that they had ever joined a training to develop the students’ creativity. Keywords: creativity, science process skill, learning activity, the life aspect
A PROTRAIT PARTICIPATION IN DECISION MAKING AMONG ACCOUNTING LECTURES IN YOGYAKARTA
Authors: . Sukirno
Published: February 2017

Abstract: As a developing country, Indonesia has been facing problems regarding finding the ways how to improve her higher education quality. In this study, lecturer participative decision making (hereafter abbreviated, PDM)) is observed and analysed to be linked with lecturer satisfation, commitment, and performance.Mail survey was used to collect the data. Open-ended questionnaires were distributed to the accounting lectures at faculty of economics and business in Yogyakarta Special Region, Indonesia. A total of 61usable packets of questionnaires were obtained by dual rater approach. Data were analyzed by employing tabulation, anovaandregressionanalysis.It is found that lecturer participation will increase lecturer performance. Nevertheles, lecturer participation is beyond the track of getting lecturer satisfaction and lecturer commitment. Lecturer participation may be useful to boost lecturer commitment based on the single rating. In response jangling results, theoritical and empirical discussion are presented to provide useful academic and managerial recomendations. Keywords: participative decision making, higher education, Indonesia POTRET PARTISIPASI DOSEN AKUNTANSI DALAM PENGAMBILAN KEPUTUSAN DI INDONESIA Abstrak: Sebagai negara berkembang, Indonesia menghadapi persoalan erkait dengan peningkatan kualitas pendidikan tinggi. Penelitian ini bertujuan untuk mengamati, mendeskripsi dan menganalisis partisipasi dosen dalam pengambilan keputusan dan pengaruhnya terhadap kepuasan, komitmen, dan kinerja dosen. Survei menggunakan angket semi terbuka dengan menggunakan rater ganda dilakukan untuk mengumpulkan data penelitian. Sejumlah 61 dosen akuntansi dari berbagai fakultas ekonomika dan bisnis di Daerah Istimewa Yogyakarta berpartisipasi dalam penelitian ini. Data yang diperoleh dianalisis dengan menggunakan tabulasi, Anova test dan analisis Regresi. Hasil penelitian berbasis pada single rating menunjukkan partisipasi dosen dalam pengambilan keputusan berpengaruh terhadap kinerja dosen, namun demikian partisipasi dosen tidak terbukti berpengaruh terhadap kepuasan dan komitmen dosen. Kesimpulan yang berbeda atas hasil analisis dalam penelitian ini didiskusikan dan dipresentasikan agar dapat dibuat rekomendasi akademik dan managerial yang berguna. Kata Kunci: pengambilan keputusan partisipatif, perguruan tinggi, Indonesia
PENGGUNAAN MEDIA KOMIK DALAM PEMBELAJARAN IPA UNTUK MENINGKATKAN MOTIVASI DAN HASIL BELAJAR KOGNITIF DAN AFEKTIF
Authors: Puspitorini Retno , Prodjosantoso A.K. , Subali Bambang , Jumadi Jumadi
Published: February 2017

Abstrak: Penelitian ini bertujuan untuk mendeskripsikan peningkatan motivasi, hasil belajar kognitif, hasil belajar afektif peserta didik dalam pembelajaran IPA dengan menggunakan media komik. Penelitian dilakukan lewat quasi experiment dengan desain one group pretest-posttest. Subjek penelitian adalah 57 peserta didik kelas VII SMPN 1 Banjarnegara. Media komik digunakan dalam pembelajaran IPA selama 6 kali tatap muka. Data motivasi dan hasil belajar afektif diperoleh lewat angket dan observasi, sedangkan hasil belajar kognitif lewat pretes dan postes. Hasil penelitian menunjukkan bahwa penggunaan media komik di dalam pembelajaran IPA mampu meningkatkan motivasi belajar peserta didik dengan nilai gain skor sebesar 0,55 (sedang); hasil belajar ranah kognitif dengan gain skor sebesar 0,42 (sedang); dan meningkatkan hasil belajar ranah afektif dengan gain skor sebesar 0,34 (sedang). Hasil uji beda antara sebelum dan setelah perlakuan menunjukkan adanya perbedaan baik yang menyangkut motivasi belajar, hasil belajar ranah kognitif, maupun hasil belajar ranah afektif. Kata Kunci: media komik, pembelajaran IPA, motivasi, hasil belajar kognititf, hasil belajar afektifTHE USE OF COMIC MEDIA IN SCIENCE INSTRUCTION TO IMPROVE MOTIVATION AND COGNITIVE AND AFFECTIVE ACHIEVEMENT Abstract: This study was aimed to describe the improvement of students’ motivation, cognitive and affective learning achievement in science instruction using comic media. The study was carried out using the quasi experiment with the one group pretest-posttest design. The subjects consisted of 57 seventh grade students of SMPN 1 Banjarnegara.Comic media were used in science instruction for six times. The data on motivation and affective learning achievement were obtained through questionnaires and observation, while the cognitive learning achievement was obtained through the pretest and posttest. The findings of the study showed that the use of the comic media in the science instruction could improve the students’ motivation with a gain score of 0.55; improve the cognitive learning achievement with a gain score of 0.42; and improve the affective learning achievement with a gain score of 0.34. There was a significant difference in the students’ motivation, cognitive learning achievement, and affective learning achievement before and after the treatment. Keywords: comic media, Science instruction, motivation, cognitive achievement, affective achievement
Rethinking Pengelolaan Pesantren Di Indonesia
Authors: Rifai Afga Sidiq
Published: February 2017

Pesantren sebagai lembaga pendidikan yang bersifat nonformal harus mengadakan perubahan dan pembaharuan guna menghasilkan generasi-generasi yang tangguh, generasi yang berpengetahuan luas dengan kekuatan jiwa pesantren dan keteguhan mengembangkan pengetahuan yang tetap bersumber pada al-qur’an dan hadis. Dalam perkembangan zaman, pesantren saat ini berhadapan dengan arus globalisasi dan modernisasi yang ditandai dengan cepatnya laju informasi dan teknologi. “Karena itu, pesantren harus melakukan perubahan format, bentuk, orientasi dan metode pendidikan dengan catatan tidak sampai merubah visi, misi dan orientasi pesantren itu, akan tetapi perubahan tersebut hanya pada sisi luarnya saja, sementara pada sisi dalam masih tetap dipertahankan.
Peran Ethnomatematika Dalam Penerapan Pembelajaran Matematika Pada Kurikulum 2013
Authors: Richardo Rino
Published: February 2017

Tujuan dari penelitian ini adalah untuk menggambarkan peran ethnomatmatika dalam penerapan matematika dalam kurikulum 2013. Metode yang digunakan dalam penelitian ini adalah studi studi pustaka (library research). Data tersebut dikumpulkan dan dianalisis data sekunder seperti hasil penelitian sebagai buku ilmiah membaca, jurnal ilmiah, laporan penelitian, website dan lainnya yang relevan. Teknik analisis data dalam penelitian ini meliputi tiga tahap, pertama, mengatur, mensintesis dan mengidentifikasi. Hasil penelitian menunjukkan bahwa: (1) ethnomatematika memfasilitasi peserta didik untuk dapat mengkonstruksi konsep matematika dengan pengetahuan bahwa mereka sudah tahu karena melalui lingkungan siswa sendiri, (2) Ethnomatematika menyediakan lingkungan belajar yang menciptakan motivasi yang baik dan menyenangkan serta bebas dari gagasan bahwa matematika itu menakutkan, (3) Ethnomatematika mampu memberikan kompetensi afektif dalam bentuk rasa hormat, nasionalisme dan kebanggaan dalam warisan tradisi, seni dan budaya bangsa dan (4) Ethnomatematika mendukung kemampuan siswa dengan harapan pelaksanaan pendekatan ilmiah.
Biologias atravessadas por sensibilidades e inquietações da contemporaneidade
Authors: Guido Lucia Fátima Estevinho , Carvalho Daniela Franco
Published: February 2017

O texto aborda pensamentos e ações que nos tem provocado a pensar a formação inicial de professores/as de Ciências e Biologia atravessadas por sensibilidades e inquietações da contemporaneidade, guiadas pelas artes, centradas nas culturas. Para isso, propusemos no Projeto Pedagógico do Curso de Ciências Biológicas da Universidade Federal de Uberlândia as práticas como componentes curriculares que versam sobre estas questões nas disciplinas: Ciências e Mídias, Biologia e Cultura, Educação e Sociedade e Estágio Supervisionado 1. Articulações para produzir/subsidiar uma inserção no exercício da docência em que o ensino de Biologia não é o foco principal. Deslocamos nosso foco para a produção criativa abordando temáticas culturais que perpassam o conhecimento biológico. Entendemos nossas ações como fazeres múltiplos, e o Estúdio MMuCCE (Mídias, Museus, Ciências, Culturas, Educação), locus das nossas orientações a estudantes da graduação e da pósgraduação, permite a circulação de ideias, criações, conversas que nos alimentam a investigar a educação por meio de artefatos culturais e museais.
O espaço sempre inacabado do tornar-se professor: a construção do meio
Authors: Fernandes Priscila Correia , Viana Gabriel Menezes , Scareli Giovana
Published: February 2017

Temos nos dedicado a investigar a formação de professores como espaço, muito mais que uma história ou um tempo. “O rizoma é uma antigenealogia.” (DELEUZE & GUATTARI, 2011, p. 28). Dedicamo-nos à dilatação e ao fracionamento desse espaço, “formação”: o trânsito inspecionado/avaliado por guardiões de portais, por condutores de barcas. Alternativa à historicização da formação do professor, normalmente associada a binômios: formação inicial ou continuada, professor em formação, professor em serviço, professor-formador, professor-supervisor e tantos outros, propomos uma abordagem geográfica, cartográfica do tornar-se. No movimento de tornar-se, encontramos movimentos de desterritorialização-reterritorialização do “tornar-se, enquanto tomar lugar em uma fratura, criada por um não lugar” (SEMETSKY, 2006). Encontramos então, na literatura e no cinema, sentidos que compõem com a produção do campo da formação docente e com os professores no exercício do trabalho docente, uma possibilidade de criação do sujeito-em-processo entre multiplicidades (SEMETSKY, 2006). Acreditamos que o encontro, momento de afetar-se é algo importante para a (des)(re)construção, do devir professor, que, por defini- ção, nunca estará acabado.
Osobowościowe uwarunkowania skuteczności kadry penitencjarnej
Authors: Pastwa-Wojciechowska Beata , Piotrowski Andrzej
Published: February 2017

W artykule zaprezentowano wyniki badań nad związkiem osobowości z poczuciem własnej skuteczności przeprowadzonych wśród kadry penitencjarnej. Rezultaty uzyskano na podstawie badań 190 funkcjonariuszy Służby Więziennej z działów ochrony, penitencjarnego i terapeutycznego. Do analizy osobowości wykorzystany został Kwestionariusz osobowości (NEO-PI-R) Costy i McCrae. Poczucie własnej skuteczności mierzone było za pomocą Skali Uogólnionej Własnej Skuteczności (GSES) Schwarzera, Jerusalem i Juczyńskiego. Uzyskane rezultaty wskazują, że neurotyzm, ekstrawersja, otwartość i sumienność oraz ich podczynniki powiązane są i wpływają w istotny sposób na poczucie własnej skuteczności.
Italian corporate governance rating model: Is it useful in testing all types of corporate governance?
Authors: Magli Francesca , Nobolo Alberto , Ogliari Matteo
Published: February 2017

In our empirical analysis the evidence found fully reflects the theoretical characteristics studied in small and medium-sized enterprises rather than large enterprises. The dominant role of the shareholder in small and medium-sized enterprises and the type of ownership composition and structure are fundamental. The analysis of multi-case studies, also, explains the higher scores obtained from the listed companies under the heading of Shareholders protection. These enterprises should be able to provide the means to communicate and should have greater ability to protect shareholders
The effect of the financial crisis on risk disclosures: a comparative study of U.S. and Canadian corporations
Authors: Maingot Michael , Quon Tony , Zéghal Daniel
Published: February 2017

The effect of the financial crisis on enterprise risk management (ERM) disclosures was examined through a content analysis of the 2007 and 2008 annual reports of S&P 500 and S&P- TSX Composite companies in the energy, materials, industrials, and consumer discretionary sectors. Fourteen types of risk were tracked and categorized. The total number of risk disclosures by S&P 500 companies hardly increased at all from 2007 to 2008, while the total number of risk disclosures by TSX companies increased slightly. Overall, the 2008 financial crisis has not had a major impact, if any, on risk disclosures by major non-financial U.S. and Canadian corporations
Changes in monetary policy after the crisis - towards preventing banking sector instability
Authors: Szunke Aleksandra
Published: February 2017

The instability of the banking sector has become the subject of wider scientific research during the global financial crisis. The financial crisis of the first decade of the twenty-first century began in the U.S. subprime mortgage market and quickly spread to the whole banking sector in the United States as well as in many countries of the global economy. Among five major American investment banks - Lehman Brothers went bankrupt, Bear Stearns and Merrill Lynch were taken over by other banks, and Goldman Sachs and Morgan Stanley were transformed into commercial banks, which were covered by the supervision and regulations of the central bank - the Federal Reserve System. The consequences of the global financial crisis also affected British banks, including The Royal Bank of Scotland, Lloyds Bank, Halifax, Abbey Bank, Barclays Bank and NBC Bank. In Iceland, during the global financial crisis which affected the Icelandic banking sector, three largest banks: Glitnir Bank, Landsbanki and Kauphting were nationalized, which means that the control was taken over by their government. It has caused, that reflections and scientific research on financial stability were replaced by the study of instability in particular in relation to the banking sector. The main aim of the study is to identify the general framework of the response system of central banks on the phenomenon of banking sector instability, in the context of preventing it in a long term. Current - the traditional system proved to be ineffective, because it did not prevent the spread of the factors that led to the destabilization of the banking market
Factors influencing disclosure practices in emerging markets: Case of the gulf countries
Authors: Shehata Nermeen
Published: February 2017

The paper focuses on one homogeneous group of countries in the Middle East North Africa Region, the Gulf Cooperation Council (GCC) countries, which provides an opportunity to better understand the environment and context, and help shape future research. The purpose of this paper is to provide an analysis of three factors affecting corporate disclosure practices in the GCC countries including: economy, capital markets, and laws and enforcement mechanisms. Several recommendations that would help improve disclosure and financial reporting practices in the GCC are presented. Accounting researchers, especially those with interests in disclosure and financial reporting issues, should take into account the impact of the previous factors while designing their empirical research and reporting its findings
Estimating the tourism potential in Namibia
Authors: Eita Joel Hinaunye , Jordaan Andre C.
Published: February 2017

This paper investigates the determinants of tourism in Namibia for the period 1996 to 2012. The results indicate that an increase in trading partners’ income, depreciation of the exchange rate, improvement in Namibia’s infrastructure, sharing a border with Namibia are associated with an increase in tourist arrivals. Governance indicators such as rule of law, political stability and no violence are also associated with an increase in tourist arrivals to Namibia. The results show that there is unexploited tourism potential from Angola, Austria, Botswana, Germany and South Africa. This suggests that it is important to exploit the tourism potential as this would help to accelerate economic growth and generate the much needed employment
International financial reporting standards (IFRS) adoption in Vietnam: If, when and how?
Authors: Thi Phan Duc Hong , Mascitelli Bruno , Barut Meropy
Published: February 2017

The paper examines the perceptions of Vietnamese accounting practitioners and academics regarding the optimal approach and timeline of IFRS adoption in Vietnam. Perceptions were obtained and analysed from 3,000 questionnaires sent to Vietnamese auditors, accountants, and accounting academics across Vietnam in 2012. A total of 728 usable responses were received producing an effective response rate of 24 per cent. The majority of the respondents considered that IFRS adoption should be permitted for voluntary adoption rather than mandatory adoption. The results indicate that the staggered convergence approach is more optimal than the big bang approach of IFRS adoption. A five year period for transition and preparation with some difficulties and obstacles associated with IFRS implementation is anticipated. The findings will assist accounting practitioners, educators, and policy makers to prepare themselves for the implications of IFRS convergence and adoption.
Insurance sector development and economic growth: evidence from South Africa
Authors: Sibindi Athenia Bongani , Godi Ntwanano Jethro
Published: February 2017

Arguably the insurance sector may contribute to economic growth by its very mechanism of risk transfer and thereby providing indemnity as well as by the intermediation role it plays in the economy. Insurance can also be used as a vehicle of savings mobilisation. In this article we investigate the causal relationship between the insurance sector (long-term, short-term and total insurance) and economic growth in South Africa for the period 1990 to 2012. We make use of insurance density as the proxy for insurance market development and real per capita growth domestic product as the proxy for economic growth. We then test for cointegration amongst the variables by applying the Johansen procedure and then test for Granger causality based on the vector error correction model (VECM). Our results confirm the existence of at least one cointegrating relationship and also indicate that the direction of causality runs from the economy to the long-term insurance, as well as from the economy to the total insurance sector. This is consistent with the ‘demand-following’ insurance-growth hypothesis.
An empirical investigation of the culture-IFRS mutual relationship in Jordan
Authors: Halbouni Sawsan S. , Hassan Mostafa Kamal
Published: February 2017

This paper investigates the mutual relationship between Jordanian practitioners’ individualistic/collectivistic cultural orientation and the International Financial Reporting Standards (IFRS). It explores Jordanian accountants’ perception of the importance of IFRS, the IFRS-embedded cultural values attributed to those accountants, and whether adopting IFRS has contributed to change their cultural orientation. A three-part questionnaire distributed to 81 Jordanian accountants reveals that their cultural orientation is more collectivistic than individualistic. Moreover, accountants who have practiced only IFRS have a more individualistic orientation than those with long experience with the pre-IFRS standards. As the paper analyses only one cultural dimension (i.e., collectivistic versus individualistic), further research should explore other cultural dimensions, such as power distance, masculinity and uncertainty avoidance, religion and language, and their interrelationships with IFRS. Our findings should be relevant to other countries, especially those with developing or emerging economies, as they strive to improve the effectiveness of their corporate financial information.
Stratqual: Measuring the density of the strategic management deliberate process in micro and small companies performance
Authors: Filho Cid Gonçalves , Gonçalves Carlos Alberto , Lopes Vera Helena , Santos Marcos Ferreira
Published: February 2017

This paper aims to contribute to the study of the impact of strategic management concepts in micro and small company performance using the StratQual measuring. Micro and small companies are, in the Brazilian economic scenario, responsible for a considerable amount of jobs created, GDP’s formation, income generation and the capacity of adapting to the market’s necessities with agility and flexibility. Studies that were carried out by SEBRAE - “Serviço Brasileiro de Apoio às Micro e Pequenas Empresas” showing that micro and small companies formulate their strategies according to the perception that the entrepreneurs have of possible markets reactions. The StratQual index is presented as a measuring instrument that aims to allow a company to verify the intensity of its strategic management’s process, its evolution, permiting comparisons between different economic sectors, and enabling benchmarking about strategic management processes. One the main results indicates that micro and small companies that perform the activities of each one (Analysis, Planning, Implementation, Control, Feedback) in the Strategic Management process’ stages with higher intensity have a superior performance.
Governance and control of externalized water service management: Comparing solutions adopted in Italy and Sweden
Authors: Argento Daniela , Grossi Giuseppe , Thomasson Anna
Published: February 2017

In this paper the challenges imposed on corporate governance of water services in Italy and Sweden are analyzed and compared. From the comparative analysis we notice that with externalization of services ore stakeholders become involved in the provision of the services. These stakeholders have common as well as divergent interests and the challenges thus become to find an alignment of interest among stakeholders in order to secure a sustainable provision of the services. The comparative analysis indicates that such lignment is especially difficult when stakeholders have heterogenous background (public and private sector).
From philanthropy to impact investing: Shifting mindsets in South Africa
Authors: Viviers Suzette , Ractliffe Tamzin , Hand Dean
Published: February 2017

This paper contributes to the body of knowledge on impact investing in South Africa by defining the phenomenon, outlining the relationship between philanthropy, responsible investing (RI) and impact investing, and discussing the moral roots and historical development of these three concepts. Attention is also given to the current status of philanthropy, RI and impact investing internationally and locally. A review of 53 local RI funds established over the period 1 June 1992 to 31 December 2010 reveal that the majority have an impact investing focus, either on its own or in combination with other RI strategies. The challenges in stimulating growth in impact investing in South Africa are highlighted and suggestions provided to address these challenges.
Corruption, complexity and governance: The role of transparency in highly complex systems
Authors: Calderón Reyes , Álvarez-Arce José L.
Published: February 2017

This paper draws on the available interdisciplinary literature on corruption. We describe corruption as a highly complex phenomenon, which includes heterogeneous elements with nontrivial relationships, unpredictable evolution and changing dynamics. We conclude that anticorruption efforts must be aware of this complexity and include the needed governance instruments. Self-regulation, transparency and ethics re called on to play a fundamental role.
Bank’s organizational form and effectiveness of the recovery process
Authors: Cotugno Matteo , Monferrà Stefano
Published: February 2017

Recent empirical findings by Sapienza (2004), Micco and Panizza (2006) and Berger et al. (2008) have pointed to the correlation between bank ownership and lending behavior. We formulate and test hypotheses on the role played by the type of bank ownership (Independent and Dependent) and by the functional distance of the bank in influencing the Loss Given Default Rate (LGDR). This paper refers to data on the Italian Banking System. The empirical results are consistent with our hypotheses on the LGDR and control variables relation. We provide evidence that the LGDR is positively related to the distance between the bank headquarters and the borrower’s location. Besides, the resulting data support the idea that Independent Banks present a low LGDR. Finally, our findings indicate that market power and LGDR are negatively related.
Idiosyncratic volatility as an explanation of the small firm effect: Australian evidence
Authors: Dempsey Michael Joseph
Published: February 2017

In the context of Australian stock markets, we examine how a company’s size and stock idiosyncratic volatility relate to return performance. The paper’s main conclusions may be summarized as follows. The stocks of the smallest firms markedly outperform the largest capitalized stocks, and for such small capitalized stocks, those with greater idiosyncratic volatility have markedly superior returns. It appears that the relationship of higher returns with higher idiosyncratic volatility is consistent with the mathematics of idiosyncratic volatility. In which case, the small size effect may also be interpreted as the mathematical outcome of idiosyncratic volatility. The paper further examines the condition on which the higher returns reported for either small firm size or high idiosyncratic volatility are likely to be wealth-forming. Finally, we observe that the high performances of the stocks of the smallest firms are likely irrelevant to the class of firms that are of interest to the institutional investor.
Small medium enterprises’ financial reporting in Malaysia
Authors: Jaffar Nahariah , Selamat Zarehan , Ismail Norhazlin , Hamzah Hamsatulazura
Published: February 2017

This study investigates the financial reporting practices of the Malaysian SMEs. Mailed questionnaires were sent to loan officers and SMEs’ owners. The findings showed that size of SMEs, industry type, owner’s awareness about financial reporting regulations and academic qualification of the SMEs’ owners have positive associations with the nature of financial reporting of the Malaysian SMEs. In addition, the loan officers and SMEs’ owners perceived most of the information presented in the SMEs’ financial statements are useful and that they perceived all sections in the financial statements, except income statement, are important for their decision making process. Results may provide insight on the nature and adequacy of financial reporting of the Malaysian SMEs. Besides, the findings may contribute better understanding to the SMEs’ managers on the informational needs of the users of their financial statements.
The cost of compliance: The case of South African banks
Authors: Marx Johan , Mynhardt Ronald Henry
Published: February 2017

Compliance cost is expenditure of time or money in conforming to government requirements such as regulation or legislation. In the press it is stated that the cost of compliance is much too high in South Africa. Some South African regulatory authorities agreed with this opinion. To this end, research was conducted in South Africa to establish whether these opinions are accurate. The study found that the cost of compliance with regulations was unacceptably high for South African banks. The study concluded that banks needed assistance to reduce the cost of compliance. Following the recommendations of the study, calculations indicated that the implementation of these recommendations could reduce the cost of compliance by as much as 40 per cent.
Proposed model of the impact of strategic leadership on operational strategy and organisational performance of business organisations in South Africa
Authors: Serfontein Jacob Jacobus , Hough Johan
Published: February 2017

Since the mid-1980’s a growing body of leadership research has focused on strategic leadership, in contrast to managerial and visionary leadership. It focused on how top leadership makes decisions in the short term that guarantees the long-term viability of the organisation. The best performing organisations are consciously strategic in their leadership planning. These top leaders also have the ability to align human resources in an effective way directly to the business strategy. This article proposes a model towards the effective implementation of strategic leadership processes which can help business and organizational leaders with the successful implementation of high performance strategic leadership practices. This research also pinpointed theoretical and substantively meaningful endogeneous organisational capabilities that mediated this relationship and exogenous organisational factors that moderated this relationship.
A case for measuring logistics costs on a national level: A South African application
Authors: Havenga Jan Hendrik , Pienaar Wessel , Simpson Zane P.
Published: February 2017

This paper makes a case for macroeconomic logistics measurement and presents the results of the 2009 logistics cost model for South Africa. The major portion of logistics costs is attributable to road transport, of which the biggest cost driver is fuel, which, in turn, is determined by volatile oil prices and the exchange rate of the country’s monetary unit. This poses a significant exogenous risk to logistics cost management in South Africa.
The role of auditors in detecting creative accounting: Singaporean and Australian evidence
Authors: Rusmin Rusmin
Published: February 2017

This study examines the association between the magnitude of earnings management and two characteristics of auditor value - auditor independence and auditor quality. As earnings management, auditor independence and auditor quality are unobservable the study uses absolute discretionary accruals, the ratio of non-audit to total fees and auditor industry specialisation as respective proxies. This study finds no empirical evidence that non-audit services are associated with firms’ discretionary accruals. This result suggests that the provision of non-audit services by the incumbent auditor does not compromise independence. This study presents evidence of a negative association between auditor specialization and the earnings management indicator. This finding infers that the magnitude of earnings management amongst firms engaging the services of a specialist is significantly lower than firms purchasing audit services from a non-specialist audito
Classified boards and firm value revisited
Authors: Straska Miroslava , Waller Gregory
Published: February 2017

We reexamine the negative relation between firm value and board classification. We document that firms with characteristics indicating low power to bargain for favorable terms in a takeover, but also indicating high potential agency costs, are more likely to have a classified board in place. We also find that among these firms, those with classified boards have higher valuation, as measured by Tobin’s Q. This result is robust to various controls for endogeneity. Our evidence suggests that adopting a classified board is beneficial for certain firms and challenges the commonplace view that board classification is an antitakeover device that necessarily harms shareholders.
Governance of large family companies in traditional and new economy industries in India: Effects on financial performance
Authors: Pandey Rakesh , Taylor Dennis , Joshi Mahesh
Published: February 2017

This study adds a new context to the body of empirical literature on relationships between corporate family ownership, governance and financial performance. The context is large family listed companies in India operating in traditional industries under succeeding generations of family management compared to companies operation in India’s ‘new economy’ industries under first generation family entrepreneurs. Results reveal a negative relationship between family CEO and firm performance, and a positive relationship between family ownership and firm performance, which supports prior findings in other contexts. However, in this study of Indian family companies, the former relationship is found in ‘new economy’ industries only, whereas the latter relationship is found in traditional industries only. Additionally, in India, Boards that are more actively involved in management processes will record superior financial performance in companies in traditional industries, but Boards less actively involved achieve better financial performance in new economy industries. These results are interpreted in light of historical Indian family business practices and modern changes. Implications for the future of the traditional family business model, as India rapidly progresses towards ‘new economy’ industries, are drawn from the results.
Enron fiasco: Business difficulty and the role of Enron’ directors
Authors: Nguyen Huu Cuong
Published: February 2017

Enron Corporation’s high-profile collapses marked a new period for dramatic changes to corporate governance worldwide that mainly focuses on law reform to prevent, or al least mitigates, similar future corporate collapse. The paper investigates Enron’s demise by addressing the two main aspects: Enron’s business and the role of Enron’s director in governing the Corporation, especially with the presence of dual role of the chairman and chief executive officer in its organisational structure
Does the provision of voluntary corporate social responsibility disclosure influence the cost of equity capital? Evidence from Australia and the United Kingdom
Authors: Liu Qiao , de Villiers Charl
Published: February 2017

The practice of managers of firms making voluntary social disclosures has become widespread. Corporate ownership (shareholders) will be interested to know whether these voluntary social disclosures affect them by influencing the firm’s cost of equity capital. This study investigates the relationship between the voluntary corporate social responsibility disclosure of Australian and UK firms, based on the 2008 KPMG International Survey of Corporate Social Responsibility Reporting and the cost of equity capital based on the Botosan and Plumlee (2005) model. Using a sample of 59 firms ranked in the top 100 of Australian and UK firms, we find that firms making voluntary corporate social responsibility disclosure in compliance with the Global Reporting Initiative Guidelines are associated with an increased cost of equity capital. Our main results are robust to several alternative measures of voluntary corporate social responsibility disclosure. These results can be attributed to two reasons. Firstly, firms making voluntary corporate social responsibility disclosure provide information that allows certain traders to make judgments about a firm’s performance that are superior to the judgments of other traders. As a result, there may be more information asymmetry amongst traders. Secondly, shareholders consider that the information production and proprietary costs associated with voluntary corporate social responsibility disclosure outweighs its potential benefits. Both explanations suggest that investors will impose a higher cost of equity on firms making voluntary corporate social responsibility disclosure. In the additional tests, we show that our main results are robust to alternative measures of voluntary corporate social responsibility disclosure.
Strategic alliance governance forms
Authors: de Lyra Renato Rodrigues , van Aduard de Macedo Soares Teresia Diana Lewe
Published: February 2017

This article presents the results of bibliographical research with a view to identifying the principal factors that should be considered by firms when choosing the most appropriate governance form for a new strategic alliance. It contributes to the body of knowledge regarding factors that influence the choice of governance form in strategic alliances, by seeking to incorporate concepts and proposals available in the internationalization and corporate governance literature to the alliance governance field. It thus also intends to provide guidance on recommended governance forms and practices for executives of firms that operate in strategic alliances at domestic and international levels.
Corporate governance and performance: Stakes on ownership? Empirical research of the Ukrainian banks
Authors: Kostyuk Alexander , Govorun Dmytro , Neselevska Olga , Iefymenko Valeria , Gyrba Oksana
Published: February 2017

This paper was aimed to examine the relationship between corporate governance and financial performance in terms of ownership of 41 banks that represent Ukrainian banking system in 2006-2009. Correlation results could be used as an indicator of the weak link between corporate governance dynamics and operating performance. The Corporate Governance Dynamics Ratio was introduced to evaluate the CG in banks from the sample. It was determined during the study that majority of the banks could be found in the “30 to 80 points” range, which indicates the low level of CG practices’ implementation. On the other hand, there were some outliers – 6 banks with Ukrainian ownership have higher rankings then foreign-owned ones (“over 80 points” range), while 5 foreign banks are “outsiders” with CG Ratios in the range “less than 30”. In general it can be stated that the level of corporate governance in Ukrainian banking is in the initial phase, internal and state regulation should be introduced in order international practices to be put into action.
Does CEO duality is really matter? Evidence from an emerging market
Authors: Wellalage Nirosha Hewa , Locke Stuart
Published: February 2017

The relationship between board leadership, firm financial performance and agency costs is examined on behalf of a sample of multinational company subsidiaries (MNCs) and local public companies (LPCs) in Sri Lanka. Five years of data for 86 MNC subsidiaries and 113 LPCs, are collected and observations are analysed using a dynamic panel GMM estimation. This study provides empirical support for stewardship theory and contingency theory when firms are multinational subsidiaries. Moreover, findings support agency theory when firms are local public companies. Finally, this study indicates that there is no optimal board leadership structure. Hence, when companies commence their exploration of corporate governance practices, firms need to recognize that firm characteristics and contingency perspective boost the impact of board leadership structure on corporate financial performance.
Corporate governance and institutional ownership: A critical evaluation and literature survey
Authors: Wang Timothy , Elsayed Mohamed , Ahmed Abdullahi D.
Published: February 2017

This paper aims to analyse how effective the role of institutional shareholders is in corporate governance by examining the association between the different types of institutional shareholders and earnings management. Many prior studies have investigated the nature of several corporate governance practices and mechanisms and how they exist to strengthen institutions, however, there have been questions related to the role of governance failures in preventing unethical behavior by top management. The recent financial and accounting scandals that have engulfed major financial companies in the United States and other developed countries have renewed the interest in corporate governance issues and the role of shareholders. This study provides critical reviews of the theoretical and empirical literature on the inter-relationship between different types and composition of shareholders and influences on corporate governance outcomes. We evaluate what we can say with confidence about the interaction between ownership structures and corporate governance. Overall, there is a consensus among researchers that institutional investors and other outside blockholders vote more actively on corporate governance amendments than non-blockholders to enhance profitability and market valuation of firms.
Corporate social responsibility (CSR) reporting by multinational corporations (MNCs) subsidiaries in an emerging country
Authors: Momin Mahmood Ahmed , Hossain Mohammed
Published: February 2017

The paper examines the extent of corporate social responsibility (CSR) Reporting by subsidiaries of multinational corporations in Bangladesh in two different steps. At the first step, the study explores the general trend of CSR Reporting in Bangladesh, and then examines in more detail: (a) CSR of subsidiaries of MNCs and (b) CSR of UK MNCs and their subsidiaries in Bangladesh. Content analysis has been used to capture the nature and quantity of CSR issues provided in the annual reports by the companies that were listed on the Dhaka Stock Exchange during the study. The paper suggests that CSR Reporting by MNCs subsidiaries in Bangladesh mainly means employee disclosure. CSR Reporting mostly consists of voluntary information with minimum level of mandatory disclosure. More importantly, subsidiaries disclose social and environmental issues more in line with Bangladeshi national companies than they do with their MNC parents. This highlights the fact that MNCs do follow different CSR Reporting strategy based on country of reporting.
Remuneration, risk and performance in Italian companies: An empirical analysis on systems of remuneration in the board of Italian listed companies
Authors: Artiaco Marco
Published: February 2017

The recent financial crisis highlighted the issue of Board of Directors compensation, which had been analyzed by many authors. In fact, there is a vast academic literature on the impact of the compensation of Board of Directors on corporations characterized by the separation of ownership from control. The compensation of Board of Directors has been a subject of debate, also by global regulators like OECD, FSB, Central Bank of Italy and European Commission and many are pushing for an international uniform regulation. This paper aims to investigate the relationship between the board of Directors compensation, the company performance and the risks decided by the Board. The article analyses a sample of Italian listed companies in order to test wether or not the Board of Directors compensation structure could turn into a performance incentive, given the risk taken.
The king reports, independent non-executive directors and firm valuation on the Johannesburg stock exchange
Authors: Ntim Collins G.
Published: February 2017

South Africa (SA) has pursued corporate governance reforms in the form of the 1994 and 2002 King Reports. This paper examines the association between the presence of independent non-executive directors (INEDs) and market valuation of a sample of 169 firms listed on the Johannesburg Stock Exchange (JSE) in SA from 2002 to 2007. Our results suggest a statistically significant and positive relationship between the presence of INEDs and firm valuation. By contrast, we find no statistically significant association between the presence of non-executive directors (NEDs) and firm valuation. Our findings are robust across a number of econometric models that control for different types of endogeneity problems, non-linear associations and firm valuation proxies. Our findings have important policy and regulatory implications. Whereas our evidence that more independent corporate boards’ impacts positively on firm valuation provides support for the recommendations of the King Reports, it shows that to be meaningful, director independence has to be more carefully and strictly defined.