bluuebunny/crossref_metadata_2025_split huggingface dataset:
Internationalising auditing standards: stakeholder views on Australia's strategic directions
Authors: Dellaportas Steven , Senarath Yapa P.W. , Sivanantham Sivakaran 
Published: August 2008

PurposeThe purpose of this paper is to examine and evaluate the internationalisation of Australian auditing standards by analysing the submissions to the Auditing and Assurance Standards Board's (AUASB) strategic directions paper (SDP) and comparing the proposed and approved strategic directions frameworks of the AUASB.Design/methodology/approachA content analysis of the submissions to the SDP is conducted to identify the extent of support, and arguments for and against the proposed strategic directions. This study attempts to find a link, if any, between the proposed strategic directions, the views expressed by the stakeholders, and the final set of strategic directions issued by Australia's Financial Reporting Council.FindingsOverall, the final set of strategic directions released in April 2005 are consistent with the views expressed in the submissions, which support minimal divergence from International Standards on Auditing (ISAs) and using the ISAs as the base for developing Australian auditing standards. Major changes from the SDP include a requirement for the AUASB to undertake research and monitor auditing standards issued by national standard setters. However, the AUASB is no longer obliged to contribute to the international standard arena and need only have regard to any program initiated by the International Auditing and Assurance Standards Board.Research limitations/implicationsThe findings of this study provide an insight into the future of Australia's role in the international arena and increase awareness of stakeholders' views on the international harmonisation of auditing standards.Originality/valueWhile there have been several studies examining the international harmonisation of accounting standards, there is comparatively little research on the international harmonisation of auditing standards. This paper attempts to address this void, in part, and contribute to the literature on the convergence of auditing standards with ISAs.
It's 2008: do you know where your talent is? Connecting people to what matters
Authors: Athey Robin 
Published: August 2008

PurposeThe purpose of this paper is to speak of the importance of connecting people in the workplace. It describes the types of connections that foster employee development and engagement, and proposes methods and tools that help strengthen these connections.Design/methodology/approachThe analysis in this report is based on industry and literature reviews and interviews with top executives. It builds on research carried out by Deloitte Research on talent management.FindingsIn today's competitive talent market, it is not sufficient for companies to follow a traditional “attract‐retain” talent management strategy. A “develop‐deploy‐connect” strategy seems to better engage and meet the demands of the workforce. Of these three components, “connect” is emerging as the most important but least understood.Practical implicationsBecause value today is created largely out of interactions, people's connections are increasingly important and complex. Companies that do not invest thought and effort in understanding this amorphous topic will find themselves battling attrition. Conversely, meaningful connections help people build the networks and relationship skills that lead to professional effectiveness and organizational growth.Originality/valueThis article categorizes connections into three main types: people to people, to a sense of purpose, and to the resources they need. It presents leaders with a solid framework, research‐backed ideas and leading practices to connect people for performance.
The big exit: executive churn in the wake of M&As
Authors: Krug Jeffrey A. , Shill Walt 
Published: August 2008

PurposeThe purpose of this paper is to report the results of a ten‐year study on the effects of mergers and acquisitions (M&As) on target company executives and discusses the importance of managing leadership issues during the merger integration process.Design/methodology/approachWe followed the careers of more than 23,000 executives in over 1,000 target firms during a 17‐year period surrounding the acquisition. We then compared trends in executive turnover rates before and after the acquisition to understand the long‐term leadership effects of M&As.FindingsTarget company executive teams are generally stable before they are acquired. Following acquisition, however, firms can expect to lose 21 percent or more of their executives each year – more than double that experienced in non‐merged firms – for at least ten years after the acquisition.Practical implicationsResults show that M&As destroy whatever leadership stability target firms may have had prior to acquisition. The problem is to identify leadership instability when it occurs, understand the underlying causes, and take action to restore leadership stability in ways that increase decision making effectiveness and enhance long‐term performance.Originality/valueIn total, roughly ten years were spent compiling the data reported in this study. Given the labor intensity and length of time needed for such an effort, it is highly unlikely that a comparable database will be compiled again in the near future. This creates a unique opportunity to generate deeper insights into a variety of top management team issues in M&As that can be leveraged to improve the effectiveness of post‐merger integration engagements. We expect a variety of insightful findings to emerge as we continue to analyze these data and will report in future articles.
JBS interviews three business leaders
Authors: Foster Kim 
Published: August 2008

PurposeInterviews with three business leaders at the Leaders in London 2007 conference: Andrew Zolli, Benjamin Zander and Nick WheelerDesign/methodology/approachJBS interviewed the following three business leaders at the Leaders in London 2007 conference on a variety of topics including new technologies, music and entrepreneurship.FindingsThree business leaders express their thoughts on a variety of topics affecting the modern business world.Originality/valueThese are exclusive interviews that range over a wide variety of topics, from the impact of the new technology to using music to change behaviour in the workplace.
Questions, questions
Authors: Marren Patrick 
Published: August 2008

PurposeTo discuss the irrelevancy of one particular favorite economic question of current business punditry.Design/methodology/approachOpinion column.FindingsThis column examines the question “Are we in a recession?” and points out that the question is: unanswerable until far too late; and almost always of no real use in decisionmaking in the real world.Originality/valueHopefully, shows in a humorous way why this obsession with the question of “recession or not” is not useful.
Grow your business without leaving your competitive stronghold
Authors: Jackson Stuart E. 
Published: August 2008

PurposeManufacturers and product suppliers with a strong market share in their selected segments often enjoy good profitability but find it hard to achieve strong growth without diversifying into new product segments where their established competitive advantage may no longer apply. One tactic to overcome this problem is for companies to expand the functionality of their offering to provide a more complete solution to customers' needs. In this column, Stuart Jackson considers a range of examples where companies that started with an emphasis on manufacturing or distributing product have successfully broadened their offering to include a range complementary services. The author then proposes four key questions for companies considering going down this path.Design/methodology/approachIn this article, Jackson considers service expansion strategies for companies in a number of different industries, including medical products, retailing, printing and photocopying, package shipping, processed foods and IT. Jackson then draws lessons that can be applied broadly across any business considering value added services as a way to provide new sources of profitable growth.FindingsJust because you have exhausted opportunities to gain market share in your selected industry segment does not mean you need to diversify into unrelated markets in order to tap new sources of growth. Adding new services that provide a more complete solution to customers' needs can be a way to add new revenues from your existing customer base while at the same time cementing a deeper relationship with customers that can differentiate your firm from competitors. However, this path is not for everyone and may only make sense if the opportunity meets certain key criteria relating to customer needs, competitors and management capabilities.Originality/valueBy looking in detail at when value added services do or do not make sense, this article provides valuable insights into how to understand and predict when new service offerings will support increased competitive advantage and value creation.
Customer loyalty and employee engagement: an alignment for value
Authors: Gonring Matthew P. 
Published: August 2008

PurposeThe purpose of his paper is to show that the rational and emotional triggers associated with customer loyalty and employee engagement can be measured in a macro manner through mathematical indexing. Myriad factors, among them digitalization and disintermediation, have gradually eroded the power of an elite group of senior managers to control corporate messaging and manage corporate reputation. Other stakeholder groups, particularly employees and customers, have become empowered under these current corporate conditions. For this reason, establishing high levels of customer loyalty and employee engagement are leading determinants of brand performance. These indexes can serve as powerful tools to build integrated messaging.Design/methodology/approachThis article explores the impact of customer loyalty and employee engagement on corporate performance, and identifies how these qualities can be quantifiably measured by sophisticated mathematical indexes. To do this, the authors review the factors that contribute to form corporate reputation, and how this formation process has changed over time. It places special emphasis on how senior corporate leaders have conceded branding power to employee and customer stakeholders.FindingsBy highlighting the promising early successes of companies leading this research, this paper demonstrates the potential advantages effective use of customer loyalty and employee engagement indexes can return. By acknowledging the power of these indexes, companies have the unique capability to build integrated communications solutions that address the expectations of both employees and customers, the two most contributory groups in building brand strength.Originality/valueBy shedding light on changes in the modern marketplace, this article can help shape thinking on effective ways to leverage human capital in order to maintain and grow brand and reputation.
Customer value‐based pricing strategies: why companies resist
Authors: Hinterhuber Andreas 
Published: August 2008

PurposeCustomer value‐based pricing is increasingly recognised by academics and practitioners as the most effective approach to pricing for companies wishing to achieve increased profitability and sustained success. However, despite this apparent support for the implementation of value‐based pricing, the practical reality is that more than 80 percent of companies continue to price their products and services primarily on the basis of costs and/or competitive price levels. The present study investigates this phenomenon and identifies the main reasons for this gap between aspiration and reality.Design/methodology/approachA two‐stage empirical approach is employed: first, in a qualitative research, the phenomenon of implementation of value‐based strategies with groups of business executives participating in pricing workshops is explored. The result of this qualitative stage was then used to develop a questionnaire which was tested upon a significantly larger and more stratified population. Finally cluster analysis to summarize the results of this quantitative research stage was employed.FindingsBased on a survey of 81 executives representing a wide range of B2B and B2C industries in Germany, Austria, China, and the USA, five main obstacles to the implementation of value‐based pricing strategies have been identified: deficits in value assessment; deficits in value communication; lack of effective market segmentation; deficits in sales force management; and lack of support from senior management. The paper also provides a range of remedies to overcome these obstacles.Originality/valueIn extant literature there exists a gap between: the widespread understanding of the superiority of customer value‐based pricing strategies; and the circumstance that customer value‐based pricing strategies are currently the least widely diffused major pricing approach. We cover thus gap by highlighting which obstacles exist to the implementation of value‐based pricing strategies and provide a series of remedies to overcome these obstacles.
Replacing incomplete markets with a complete mess: Katrina and the NFIP
Authors: Young Andrew T. 
Published: August 2008

PurposeThe purpose of this paper is to elaborate the stated goals of the National Flood Insurance Program (NFIP) and then demonstrate that in practice those goals have not been achieved, and at significant cost to US taxpayers.Design/methodology/approachThe objectives are achieved by describing statements of the NFIP and the legislation behind it, and then providing an analysis of the NFIP in practice in the wake of Hurricane Katrina.FindingsThe NFIP flood insurance primarily shelters lending institutions rather than flood victims. At subsidized rates, premiums covered little of the Katrina‐based claims, and future premiums cannot realistically be expected to repay off the resulting debt to the US Treasury.Research limitations/implicationsIf the findings are accepted they lead one to conclude that government attempts to complete incomplete markets are fraught with inherent and exceptional difficulties.Practical implicationsThe NFIP should be eliminated, allowing private insurance to be offered when profitable in floodplains and allowing property‐owners to make informed choices as to residence and development.Originality/valueAttention to general disaster relief and the controversies surrounding private insurers and homeowners policies following Katrina have overshadowed the NFIP's federal flood insurance failings. This paper contributes to that relative void.
The finance of Katrina
Authors: Wood J. Stuart 
Published: August 2008

PurposeThe purpose of this paper is to discover the causes of the devastation of New Orleans and the Mississippi Gulf Coast and how it may be ameliorated.Design/methodology/approachEconomic analysis of the prior conditions causing susceptibility to flooding, and of the subsequent events involving long‐term assets: how assets had been selected and what changes have occurred in the evaluation and selection process.FindingsThe devastation caused by the hurricanes was far exceeded by: the prior governmental misleading of entrepreneurs and property owners regarding the actual level of flood protection provided to New Orleans by the bureaucratic Army Corps “flood protection system”; the resulting Rothbardian “cluster of entrepreneurial error” which allowed the devastation of New Orleans capital goods; the Hayekian unintended consequences of government actions and pronouncements following the storm, which interfered with market signals, increased subjective risk, reduced return expectations of entrepreneurs for capital assets, reducing net present values below zero; and the Misesian bureaucratic inefficiency of the corps and other governmental agents both before and after the storm. A sharp increase in their perception of flooding risk caused market participants now to see that no improvement in flood control can be achieved under the present bureaucratic structure, and they have permanently increased their perceived risk and discount rates, thereby reducing the pace of asset emplacement. Replacing the system of Lachmanian heterogeneous capital assets and their communications connections destroyed by Katrina cannot be accomplished in the present situation. New government actions and regulations are continually changing, noisy, and have altered property rights. The interactive efficiency of the asset system has been decreased. Incorrect assets are being built, necessary assets are being neglected, and the communications network between assets is not being replaced.Research limitations/implicationsA finer level of detail could be investigated, focusing on smaller sub‐systems and interactions.Practical implicationsGreatest improvement in asset rebuilding would follow the elimination of all government regulations and regulatory agencies impeding the decision process, and private companies should be contracted to replace the destroyed wetlands and emplace flood controls.Originality/valueThe paper employs an inter‐disciplinary analysis of events using several different theoretical tools combined in an innovative way to examine why systematic errors were made and are continuing, and how errors can be stopped. The paper is of greatest value to those charged with repair of the damaged infrastructure of southeast Louisiana and Mississippi.
Who's to blame for all the heartache?
Authors: D'Amico Daniel J. 
Published: August 2008

PurposeThe wake of a natural disaster is a tumultuous setting. Resources are scarce, actions are quick, and emotions are high. Social commentators have often brought complaints against capitalism for promoting greed and selfishness during and after natural catastrophes. Most recently academics have introduced a unique perspective in addition to the more traditional criticisms. They claim that free‐market advocates have imposed capitalist theories and policies in the wake of crises to the detriment of traditional policies, preferred cultures, and democratically selected institutions. This paper aims to investigate these claims.Design/methodology/approachThe paper is a discursive analysis.FindingsIt is argued that the left overlooks the case that capitalism and corporate businesses may be a natural part of local cultures and recovery processes. If such a claim is true, then the normative case against capitalist responses to natural disasters is weaker than has been presented. The two perspectives are speaking past one another.Originality/valueThe paper illustrates that claims against capitalism and market processes in the wake of natural disasters can be overstated and that it should be recognised that markets are an integral part of people's cultures and local identities.
Signaling effects of commercial and civil society in post‐Katrina reconstruction
Authors: Chamlee‐Wright Emily 
Published: August 2008

PurposeThe purpose of this paper is to examine the role private action has played in overcoming the collective action problem posed by Hurricane Katrina.Design/methodology/approachThe paper analyses the post‐Hurricane Katrina situation with regard to commercial and civil society.FindingsThe paper argues that private recovery efforts within commercial and civil society challenge this assumption. Mutual assistance, commercial cooperation, and the redevelopment of key community resources help to overcome collective action problems by reducing the high costs of an early return and by signaling the potential for widespread recovery to individual actors. Though most redevelopment plans assume that a large‐scale government response is the only way to overcome the collective action problem.Originality/valueEven in the absence of a government‐led reconstruction effort, the strategies described in the paper offer Gulf Coast residents tools for solving the collective action problem presented in the wake of catastrophic devastation.
The futile fight against (human) nature
Authors: Dirmeyer Jennifer 
Published: August 2008

PurposeThe paper aims to discuss bureaucratic management, over‐confidence in scientific theory, information distortion and lack of coordination with particular focus on the post‐Hurricane Katrina situation.Design/methodology/approachThe paper examines efficiency arguments for centralized control and the potential for government failure. It also analyzes the disaster of Hurricane Katrina with these problems in mind.FindingsThe Flood Act of 1928 officially transferred the responsibility of flood protection along the Mississippi River to the federal government. While it is true that local provision failed to eliminate the problem of flooding, the problems caused by federal provision have not been fully appreciated. The specific characteristics of flood protection as well as the general problems caused by bureaucratic management and the absence of market mechanisms suggest that local provision of flood protection is a more efficient solution.Originality/valueThe arguments in this paper suggest that, the previous belief in centralized flood management was unfounded.
A matrix approach to informal markets: towards a dynamic conceptualisation
Authors: Vande Walle Gudrun 
Published: August 2008

PurposeThe informal economy is more than the inverse of the formalised economy, but is a dynamic environment. It is less limited by legal rules, state control, bureaucracy or tax regulation. On the other hand the informal market is less visible than the regular economy. The purpose of this paper is to find out how informal markets are currently developing.Design/methodology/approachThis contribution is based on a literature review of primarily European work from scholars active in different disciplinary fields, concentrating upon presentations made during the seminars given for the EU Framework 6 CRIMPREV programme. It is structured using a matrix of potentially interesting variables: disciplinary interaction and the need for a multidisciplinary discourse; the position of nation states as a fundamental variable for the existence of the informal economy; general global economic dynamics and their implications for the concept of the informal economy; the interplay of formal, informal and criminal markets; the functionalities of informal markets for the classic survival economy; the dangerousness of wrong perceptions of informal markets and finally the contribution of different methodologies to the knowledge of the informal economy.Research limitations/implicationsThe matrix is incomplete and further input is welcome.Originality/valueThis paper could be a start for the comparison of analyses of informal markets in time and space, without the limitations of the classic categories such as organised crime and in limiting definitions.