Statutory-backed continuous disclosure regime and corporate disclosure behaviour : does corporate governance matter?

Since 1 December 2002, the New Zealand Exchange’s (NZX) continuous disclosure listing rules have operated with statutory backing. To test the effectiveness of the new corporate disclosure regime, we compare the change in quantity of market announcements (overall, non-routine, non-procedural and external) released to the NZX before and after the introduction of statutory backing. We also extend our study in investigating whether the effectiveness of the new corporate disclosure regime is diminished or augmented by corporate governance mechanisms including board size, providing separate roles for CEO and Chairman, board independence, board gender diversity and audit committee independence. Our findings provide a qualified support for the effectiveness of the new corporate disclosure regime regarding the quantity of market disclosures. There is strong evidence that the effectiveness of the new corporate disclosure regime was augmented by providing separate roles for CEO and Chairman, board gender diversity and audit committee independence, and diminished by board size. In addition, there is significant evidence that share price queries do impact corporate disclosure behaviour and this impact is significantly influenced by corporate governance mechanisms. Our findings provide important implications for corporate regulators in their quest for a superior disclosure regime.

An analysis of corporate related-party disclosure in the Asia-Pacific region

Related-party (RP) transactions are said to be commonly used opportunistically in business and contribute to corporate failures. While periodic disclosure is widely accepted as an effective means of monitoring such transactions, research is scant, particularly in countries where business dealings may be more susceptible to corruption. This study investigates the nature and extent of corporate RP disclosures across six countries in the Asia-Pacific region. The key finding indicates that companies in countries with stronger regulatory enforcement, shareholders’ protection, and control for corruption, have more transparent RP disclosures. This evidence potentially contributes to reforms aimed at strengthening RP disclosure and compliance.

The use of 'queer' in criminal justice discourses

Within criminological literature, there are growing references to a 'queer/ed criminology'. To date, ‘queer criminology’ remains a loose collection of studies and criminal-justice related commentary that uses the term 'queer'. Amid the growing calls for the more substantial development of these criminological studies, it is timely to reflect on the ways that the term ‘queer’ has been used in these discourses, to what ends, and with what effects. This paper considers the manner in which the term 'queer' has been used in these criminological and criminal justice discourses. It suggests that ‘queer’ has been used in two dominant ways: as an 'umbrella' term for lesbian, gay, bisexual, intersex, and queer-identified people; and to signify the use of theoretical tools with which to represent sexuality- and gender-diverse people more effectively within criminological research. The paper will argue that these ways of using ‘queer’ have a variety of implications and effects. Specifically, using ‘queer’ as an umbrella term has the potential to reinforce identity categories and the politics that surround identities (a critique that has often appeared in queer contexts), while using it as a theoretical tool potentially reproduces various investments in criminology and criminal justice institutions. Both uses may preclude other productive avenues for critique opened up by the term ‘queer’. The paper will conclude by suggesting that using ‘queer’ as a verb to signify a more deconstructive project directed towards criminology is a possible direction for these discussions. While this approach has its own effects, and articulates with existing deconstructive approaches in criminology, it is important to explore these possibilities at this point in the development of a ‘queer/ed criminology’ for two reasons: it highlights that multiple, and often competing, ‘queer/ed criminologies’ exist; and it expands the diverse possibilities heralded by the notion of ‘queer’.

Ownership, corporate governance and timeliness of price discovery : Australian evidence

This study investigates whether and how a firm’s ownership and corporate governance affect its timeliness of price discovery, which is referred to as the speed of incorporation of value-relevant information into the stock price. Using a panel data of 1,138 Australian firm-year observations from 2001 to 2008, we predict and find a non-linear relationship between ownership concentration and the timeliness of price discovery. We test the identity of the largest shareholder and find that only firms with family as the largest shareholder exhibit faster price discovery. There is no evidence that suggests that the presence of a second largest shareholder affects the timeliness of price discovery materially. Although we find a positive association between corporate governance quality and the timeliness of price discovery, as expected, there is no interaction effect between the largest shareholding and corporate governance in relation to the timeliness of price discovery. Further tests show no evidence of severe endogeneity problems in our study.

Using real-time authentic online learning scenarios to teach criminal intelligence : presentation

Criminal intelligence is an area of expertise highly sought-after internationally and within a variety of justice-related professions; however, producing university graduates with the requisite professional knowledge, as well as analytical, organisational and technical skills presents a pedagogical and technical challenge to university educators. The situation becomes even more challenging when students are undertaking their studies by distance education. This best practice session showcases the design of an online undergraduate unit for final year justice students which uses an evolving real-time criminal scenario as the focus of authentic learning activities in order to prepare students for graduate roles within the criminal intelligence and justice professions. Within the unit, students take on the role of criminal intelligence analysts, applying relevant theories, models and strategies to solve a complex but realistic crime and complete briefings and documentation to industry standards as their major summative assessment task. The session will demonstrate how the design of the online unit corresponds to authentic learning principles, and will specifically map the elements of the unit design to Herrington & Oliver’s instructional design framework for authentic learning (2000; Herrington & Herrington 2006). The session will show how a range of technologies was used to create a rich learning experience for students that could be easily maintained over multiple unit iterations without specialist technical support. The session will also discuss the unique pedagogical affordances and challenges implicated in the location of the unit within an online learning environment, and will reflect on some of the lessons learned from the development which may be relevant to other authentic online learning contexts.

Criminal desistance : life opportunities and hermeneutic circles of self-definition

The emic perspective of criminal desistance (ex-offenders’ personal explanations of how they gave up crime) is largely ignored by criminology. This thesis attempts to address this absence of the storyteller’s perspective by inviting desisters to participate in the exploration and interpretation of their individual desistance journeys. Significant attention is drawn to the importance of philosophical self-enquiry to personal change. This detailed journey through the desistance stories of five ex-offenders has produced an emphatic re-statement of the need for the non-judgemental listener as the beginning point of cathartic healing in damaged lives.

Legal Regulation of Corporate Social Responsibility : A Meta-Regulation Approach of Law for Raising CSR in a Weak Economy

"Even though Corporate Social Responsibility (CSR) has become a widely accepted concept promoted by different stakeholders, business corporations' internal strategies, known as corporate self-regulation in most of the weak economies, respond poorly to this responsibility. Major laws relating to corporate regulation and responsibilities of these economies do not possess adequate ongoing influence to insist on corporate self-regulation to create a socially responsible corporate culture. This book describes how the laws relating to CSR could contribute to the inclusion of CSR principles at the core of the corporate self-regulation of these economies in general, without being intrusive in normal business practice. It formulates a meta-regulation approach to law, particularly by converging patterns of private ordering and state control in contemporary corporate law from the perspective of a weak economy. It proposes that this approach is suitable for alleviating regulators' limited access to information and expertise, inherent limitations of prescriptive rules, ensuring corporate commitment, and enhance the self-regulatory capacity of companies. This book describes various meta-regulation strategies for laws to link social values to economic incentives and disincentives, and to indirectly influence companies to incorporate CSR principles at the core of their self-regulation strategies. It investigates this phenomenon using Bangladesh as a case study."--publisher website

Corporate Social Responsibility Implementation in the EU and USA : The Trend and the Way Forward

The core principles of CSR are being integrated into the core policy objectives of different economies and global companies and are also moving beyond their individual business initiatives. This integration can be seen from individual states’ perspectives; states are also accepting these issues in their socio-economic strategies and thus are establishing these issues within national economies. Given this background, this chapter explicates the trends in implementing CSR principles in the EU and USA. It demonstrates that companies in the developed countries use a mix of different strategies to incorporate CSR principles in their self-regulatory mechanisms. Strategies based on legal regulation are not foremost in this mix; rather, in these countries regulation-based strategy is meant to assist the non-legal drivers of CSR.

New labour and the environment : too little too late.

New Labour and the environment: too little too late – symbolic success but real failure Achievements: Introduction of the Climate Change Act 2008, Low Carbon Transition Plan, the creation of the Department of Energy and Climate Change, establishment of several ‘green’ quangos and Green Investment Bank, Warm Front Scheme, international leadership on Kyoto and the European Directive for Landfill and Renewable Energy. Disappointments: Increased green house gas emissions that failto meet domestic UK targets, let alone Kyoto; significant increasesin energy and transport emissions; EU air pollution violations; failure to regulate the importation of illegally logged timber and wildlife; increase in chemical agriculture; unwillingness to tackle corporate environmental crime; road expansions and runway projects at the expense of low emission alternative public transport. Biggest broken promises: Global warming, low carbon transport; protection of biodiversity.

Harnessing SD and CSR within corporate self-regulation of weak economies : a meta-regulation approach

The semantic of the terms “sustainable development” and “corporate social responsibility” have changed over time to a point where these concepts have become two interrelated processes for ensuring the far-reaching development of society. Their convergence has given dimension to the environmental and corporate regulation mechanisms in strong economies. This article deals with the question of how the ethos of this convergence could be incorporated into the self-regulation of businesses in weak economies where nonlegal drivers are either inadequate or inefficient. It proposes that the policies for this incorporation should be based on the precepts of meta-regulation that have the potential to hold force majeure, economic incentives, and assistance-related strategies to reach an objective from the perspective of weak economies.