Corporate governance and securities class actions

This study investigates the governance attributes of firms that have been subject to securities class actions (SCAs). There has been a recent sizable increase in the number of firms subject to SCAs in Australia. We examine a sample of firms that have been subject to SCAs due to disclosure breaches and match the firms by industry and size to a control sample. First, we examine the compliance culture of the SCA firms via the frequency of Australian Securities Exchange (ASX)queries of the firm and find that the frequency of ASX queries is positively associated with the occurrence of a SCA. Secondly, we provide evidence that SCA firms exhibit weaker levels of corporate governance than the matched control sample. In addition, we contribute to the understanding of firms subject to SCAs and their corporate governance attributes. Our results suggest the presence of a nomination committee may be associated with higher agency costs and that the influence of CEO duality may reduce the effectiveness of a nomination committee.

'SABAM v scarlet: Evidence of an emerging backlash against corporate copyright lobbies in Europe?

The symbols, signs, and traces of copyright and related intellectual property laws that appear on everyday texts, objects, and artifacts have multiplied exponentially over the past 15 years. Digital spaces have revolutionized access to content and transformed the ways in which content is porous and malleable. In this volume, contributors focus on copyright as it relates to culture. The editors argue that what «counts» as property must be understood as shifting terrain deeply influenced by historical, economic, cultural, religious, and digital perspectives. Key themes addressed include issues of how: • Culture is framed, defined, and/or identified in conversations about intellectual property; • The humanities and other related disciplines are implicated in intellectual property issues; • The humanities will continue to rub up against copyright (e.g., issues of authorship, authorial agency, ownership of texts); • Different cultures and bodies of literature approach intellectual property, and how competing dynasties and marginalized voices exist beyond the dominant U.S. copyright paradigm. Offering a transnational and interdisciplinary perspective, Cultures of Copyright offers readers – scholars, researchers, practitioners, theorists, and others – key considerations to contemplate in terms of how we understand copyright’s past and how we chart its futures.

Private power and new media: The case of the corporate suppression of WikiLeaks and its implications for the exercise of fundamental rights on the internet

Globalization, along with its digital and information communication technology counterparts, including the Internet and cyberspace, may signify a whole new era for human rights, characterized by new tensions, challenges, and risks for human rights, as well as new opportunities. Human Rights and Risks in the Digital Era: Globalization and the Effects of Information Technologies explores the emergence and evolution of ‘digital’ rights that challenge and transform more traditional legal, political, and historical understandings of human rights. Academic and legal scholars will explore individual, national, and international democratic dilemmas--sparked by economic and environmental crises, media culture, data collection, privatization, surveillance, and security--that alter the way individuals and societies think about, regulate, and protect rights when faced with new challenges and threats. The book not only uncovers emerging changes in discussions of human rights, it proposes legal remedies and public policies to mitigate the challenges posed by new technologies and globalization.

Book Review: "The Interface: IBM and the Transformation of Corporate Design, 1945-1975", John Harwood, Minneapolis: University of Minnesota Press, 2011

Within the history of twentieth-century design, there are a number of well-known objects and stories that are invoked time and time again to capture a pivotal moment or summarize a much broader historical transition. For example, Marcel Breuer’s Model B3 chair is frequently used as a stand-in for the radical investigations of form and new industrial materials occurring at the Bauhaus in the mid-1920s. Similarly, Raymond Loewy’s streamlined pencil sharpener has become historical shorthand for the emergence of modern industrial design in the 1930s. And any discussion of the development of American postwar “organic design” seems incomplete without reference to Charles and Ray Eames’s molded plywood leg splint of 1942. Such objects and narratives are dear to historians of modern design. They are tangible, photogenic subjects that slot nicely into exhibitions, historical surveys, and coffee-table best sellers...

Discourses of Corporate crime as natural disaster: the case of the Paddington Rail Crash

Drawing on the literature in criminology and media studies on the nature of social understandings of corporate crime and its representation in the media, this paper takes one small but important step in this direction by carrying out a linguistic case study on the news coverage of one sequence of events which resulted from corporate negligence – the Paddington rail crash, a sequence of news events that were important as they led to legal change as regards corporate responsibility in Britain. The paper concludes by showing that while the news coverage played an important part in leading to a change in the law regarding corporate responsibility, although this received little coverage in the press.

In Search of Corporate Renewal: How to Benefit from Corporate Venturing?

Despite the rapid change in today's business environment there are relatively few studies about corporate renewal. This study aims for its part at filling that research gap by studying the concepts of strategy, corporate renewal, innovation and corporate venturing. Its purpose is to enhance our understanding of how established companies operating in dynamic and global environment can benefit from their corporate venturing activities. The theoretical part approaches the research problem in corporate and venture levels. Firstly, it focuses on mapping the determinants of strategy and suggests using industry, location, resources, knowledge, structure and culture, market, technology and business model to assess the environment and using these determinants to optimize speed and magnitude of change.Secondly, it concludes that the choice of innovation strategy is dependent on the type and dimensions of innovation and suggests assessing market, technology, business model as well as novelty and complexity related to each of them for choosing an optimal context for developing innovations further. Thirdly, it directsattention on processes through which corporate renewal takes place. On corporate level these processes are identified as strategy formulation, strategy formation and strategy implementation. On the venture level the renewal processes are identified as learning, leveraging and nesting. The theoretical contribution of this study, the framework of strategic corporate venturing, joins corporate and venture level management issues together and concludes that strategy processes and linking processes are the mechanism through which continuous corporate renewaltakes place. The framework of strategic corporate venturing proposed by this study is a new way to illustrate the role of corporate venturing as a purposefullybuilt, different view of a company's business environment. The empirical part extended the framework by enhancing our understanding of the link between corporate renewal and corporate venturing in its real life environment in three Finnish companies: Metso, Nokia and TeliaSonera. Characterizing companies' environmentwith the determinants of strategy identified in this study provided a structured way to analyze their competitive position and renewal challenges that they arefacing. More importantly the case studies confirmed that a link between corporate renewal and corporate venturing exists and found out that the link is not as straight forward as indicated by the theory. Furthermore, the case studies enhanced the framework by indicating a sequence according to which the processes work. Firstly, the induced strategy processes strategy formulation and strategy implementation set the scene for corporate venturing context and management processes and leave strategy formation for the venture. Only after that can strategies formed by ventures come back to the corporate level - and if found viable in the corporate level be formalized through formulation and implementation. With the help of the framework of strategic corporate venturing the link between corporaterenewal and corporate venturing can be found and managed. The suggested response to the continuous need for change is continuous renewal i.e. institutionalizing corporate renewal in the strategy processes of the company. As far as benefiting from venturing is concerned the answer lies in deliberately managing venturing in a context different to the mainstream businesses and establishing efficientlinking processes to exploit the renewal potential of individual ventures.

Untangling rhetoric and reality in the CSR debate – the role of corporate social responsibility in effective business strategy

While there is a strong moral case for corporate social responsibility (CSR), the business case for CSR is certainly not irrefutable. A better understanding of how to integrate CSR into business strategy is needed but with ever increasing momentum towards sustainability as a business driver, it is often difficult to untangle the rhetoric from reality in the CSR debate. Through an analysis of eight case studies of leading firms from throughout the construction supply chain who claim to engage in CSR, we explore how consulting and contracting firms in the construction and engineering industries integrate CSR into their business strategy. Findings point to an inherent caution of moving beyond compliance and to a risk-averse culture which adopts very narrow definitions of success. We conclude that until this culture changes or the industry is forced by clients or regulation to change, the idea of CSR will continue to mean achieving economic measures of success, with ecological goals a second regulated priority and social goals a distant third.

Risk management and the corporate real estate portfolio

In a global business economy, firms have a broad range of corporate real estate needs. During the past decade, multiple strategies and tactics have emerged in the corporate real estate community for meeting those needs. We propose here a framework for analysing and prioritising the various types of risk inherent in corporate real estate decisions. From a business strategy perspective, corporate real estate must serve needs beyond the simple one of shelter for the workforce and production process. Certain uses are strategic in that they allow access to externalities, embody the business strategy, or provide entrée to new markets. Other uses may be tactical, in that they arise from business activities of relatively short duration or provide an opportunity to pre-empt competitors. Still other corporate real estate uses can be considered “core” to the existence of the business enterprise. These might be special use properties or may be generic buildings that have become embodiments of the organisation’s culture. We argue that a multi-dimensional matrix approach organised around three broad themes and nine sub-categories allow the decision-maker to organise and evaluate choices with an acceptable degree of rigor and thoroughness. The three broad themes are Use (divided into Core, Cyclical or Casual) – Asset Type (which can be Strategic, Specialty or Generic) and Market Environment (which ranges from Mature Domestic to Emerging Economy). Proper understanding of each of these groupings brings critical variables to the fore and allows for efficient resource allocation and enhanced risk management.

Fostering information security culture in small and medium size enterprises: an interpretive study in Australia

By having an effective organisational information security culture where employees intuitively protect corporate information assets, small and medium size enterprises (SMEs) could improve information security. However, previous research has largely overlooked the development of such a culture for SMEs, and the national context in which SMEs operate. The paper explores this topic and provides key findings from an interpretive Australian study based on a literature review, two focus groups and three case studies. A holistic framework is provided for fostering an information security culture in SMEs in a national setting. The paper discusses key managerial challenges for SMEs attempting to develop such a culture. The main findings suggest that Australian SME owners do not provide sufficient support for information security due to insufficient awareness of its importance and may also be affected by national attitudes to risk. The paper concludes that Australian SME owners may benefit from adopting a risk-based approach to information security and should be educated about the potential strategic role of information technology and information security. The paper also identifies the value and difficulty of promoting a behavioural and learning approach to information security to complement traditional technological and managerial approaches. Implications for theory and practice are discussed.

Defining corporate citizenship : evidence from Australia

This study reports the results of a survey of the attitudes to corporate citizenship and practices of corporate citizenship of 93 of the largest private and publicly listed corporations in Australia. The results suggest there was considerable hesitation in positioning corporate citizenship as a proactive, long term, internal culture process. Instead, corporate emphasis was generally on short-term community activities. Also, there was little variation in these results when respondents were classified by industry, international involvement and legal structure. Clearly, significant links have yet to be made by corporate Australia to connect the financial, social and environmental bottom lines.

Cultural impact on Chinese corporate disclosure-a corporate governance perspective

Purpose – The purpose of this preliminary study is to explore the impact of changed cultural environment on the voluntary disclosure behaviour of Chinese listed companies.
Design/methodology/approach – A theoretical framework of the relationship between corporate disclosure and governance forms the basis of the research. A composite checklist of corporate disclosure was developed using relevant corporate governance indices and analyses were carried out on the 2003 financial reports of 120 Chinese listed companies. Six areas of voluntary disclosure of the sample companies were analysed and reported. These areas are: board structure and functioning, employees related issues, director remuneration, audit committee, related party transactions and stakeholder interest.
Findings – The results suggest that as China's cultural and social norms change, there was willingness of Chinese listed companies to provide voluntary information in addition to the disclosure requirements. Information relating to stakeholder interest and employees issues are found more frequently disclosed by listed companies than those which were regarded as sensitive. This is an exploratory study which shows that further research may provide more concrete evidence of the changing corporate disclosure environment in China.
Research limitations/implications – This study based on one year's results and as such has limitation in the interpretation of the results. Further research is necessary to demonstrate the impact of culture in corporate disclosure.
Practical implications – The results have practical implications for professional accountants and auditors to understand further the trend of voluntary disclosure in China. The paper provides some evidence of the changing scene of Chinese corporate governance practice.
Originality/value – This study fulfils a gap in prior research by examining the effect of cultural implications in corporate governance, in an emerging economy. The composite voluntary disclosure checklist will serve a good basis of measurement in corporate disclosure.

Codes of ethics in corporate Sweden

Purpose – The purpose of the study is to examine and describe the use of codes of ethics in the top 100 companies operating in the Swedish corporate sector. This paper reports on the responses of those companies that possessed a code of ethics.

Design/methodology/approach – A three-stage research procedure was used. First, a questionnaire was sent to the public relations managers of the top 100 companies operating in the Swedish corporate sector (based on revenue). Companies were asked to answer up to 29 questions and to supply a copy of their code of ethics. The second stage involved content analysis of the codes of ethics supplied by survey respondents. The third stage involved a more detailed follow-up of a smaller group of firms that appeared to be close to best practice. Findings for Stage 1 of the research are reported in this paper. The areas of questioning were: how common are codes of ethics? Who was involved in the development of these codes? What are the reasons for the codes? How are they implemented? Do companies inform internal and external publics of the codes? What are the prescribed benefits of the codes?

Findings – It would appear that business ethics has only recently become a topic of interest in corporate Sweden and that many companies are in the early stages of code development and assimilation into company policies. The incidence of codes in the population (of 100) suggested by this survey (56 per cent) is lower than a US study finding (in 1995) that over 84 per cent of comparable US companies had codes of ethics. It would appear that Sweden today lags behind the US situation of 1995. When one investigates the special measures to support the inculcation of ethical values at the organizational level, there appears to be some shortfall. The supporting measures of ethics committees, ethics training committees, ethics training, ombudsman, an ethical audit and procedures to protect whistleblowers appear to be under-utilized in companies that possess codes. This lack of utilization tends to suggest that companies in Sweden, as yet, either have not developed a high commitment to supporting business ethics in their corporations, or they may have developed other methods to support their codes in their organizations that they view are as beneficial as the traditional methods practised in other western industrial democracies.

Research limitations/implications – This research was limited to internal ethical expectations. The commitment to business ethics is usually explored in terms of internal ethical expectations, but the simultaneous consideration of the external ethical expectations in the marketplace (e.g. among suppliers and customers or other publics) is desirable. A dyadic approach considering a company's internal ethical expectations and the external ethical expectations of a company's business activities may give a more balanced and in-depth approach.

Practical implications – Evidence is now available to show that codes of ethics are well developed in many of Sweden's largest corporations: organizations that, from their responses, appear to see a diverse range of benefits in developing the area of business ethics. Companies are beginning to implement not only a code of ethics, but other complementary initiatives that reinforce the need for the culture of the organization to be ethical. Codes of ethics are perceived by organizations to have assisted them in their dealings in the marketplace and many companies use their ethical values to underpin their strategic planning process. It appears that many companies now see the formalisation of business ethics as an integral part of their commercial practices.

Originality/value – This study is the first one of its kind on codes of ethics in corporate Sweden. It will enable all sectors of Swedish business to benchmark their efforts against the major companies in the Swedish corporate sector.

HR role effectiveness and organizational culture in Australian local government

The role of the human resource management (HRM) function and its consequent contribution to organizational culture and strategic management have been much debated. This relationship has not been empirically tested in the Australian local government sector. This paper explores the types of organizational culture and the role effectiveness of the HRM function as perceived by 217 senior managers in 71 New South Wales and Queensland local government entities. We found four clusters of local government entities, each with different profiles of organizational culture and perceived effectiveness of the HRM role. While most organizations are undergoing a transition in their cultural values, over one-third of the organizations exhibit a market-oriented culture. These market-oriented organizations have a higher level of human resource role effectiveness. The present study contributes to the ongoing debate regarding the status and influence of HRM as a value-adding corporate function.

The global corporate curriculum and the young cyberflâneur as global citizen

Contents: Introduction: youth, mobility, and identity / Nadine Dolby and Fazal Rizvi -- New times, new identities -- The global corporate curriculum and the young cyberfleneur as global citizen / Jane Kenway and Elizabeth Bullen -- Shoot the elephant: antagonistic identities, neo-marxist nostalgia, and the remorselessly vanishing past / Cameron McCarthy and Jennifer Logue -- New textual worlds: young people and computer games / Catherine Beavis -- Diasporic youth: rethinking borders and boundaries in the new modernity -- Consuming difference: stylish hybridity, diasporic identity, and the politics of culture / Michael Giardina -- Diasporan moves: African Canadian youth and identity formation / Jennifer Kelly -- Popular culture and recognition: narratives of youth and Latinidad / Angharad Valdivia -- Mobile students in liquid modernity: negotiating the politics of transnational identities / Parlo Singh and Catherine Doherty -- Youth and the global context: transforming us where we live -- The children of liberalization: youth agency and globalization in India / Ritty Lukose -- Youth cultures of consumption in Johannesburg / Sarah Nuttall -- Identities for neoliberal times: constructing enterprising selves in an American suburb / Peter Demerath and Jill Lynch -- Disciplining "Generation M": the paradox of creating a "local" national identity in an era of "global" flows / Aaron Koh -- Marginalization, identity formation, and empowerment: youth's struggles for self and social justice / David Quijada.

Exchange as a determinant in corporate citizenship : exploratory action research into the social construction of corporate citizenship

This study attempts to achieve two things. Firstly it contextualizes corporate citizenship drawing on scholarly, government, media, legal and business discourses which when viewed as a whole, reveals the importance of exchange as a central determinant in how all the major themes or subfields of corporate citizenship function and subsequently become valued within public discourse. Secondly, it reports on exploratory action research where I as a researcher occupied a central role in understanding and contributing towards how organizational settings socially construct and evolve corporate citizenship in real time through various exchange behaviour, drawing from four years field research within BP and its interactions with the external world. This research contributes to new knowledge by building a rare contextual understanding into how cultural change evolves over time within an organization, from its public face, through policy, down into employee and stakeholder reactions, including identifying the crucial role played by Cultural bridges’ in shifting entrenched organizational culture towards embracing new, more sustainable ways of doing business, and additionally how practitioners can legitimately act as a researcher in facilitating this process by assisting an organization to move from simple, transactional relationships to more sustainable integrated social, financial and environmental exchange between business and its broader context. Importantly, this research develops entirely new theoretical models for understanding the social application and commercial value of corporate citizenship to both business and society.