Theorizing accounting and other [calculative] practices in private equity:Experimenting with Schatzki’s ‘site’ ontology

This thesis contributes to social studies of finance and accounting (Vollmer, Mennicken, & Preda, 2009) and the practice theory literatures (Feldman & Orlikowski, 2011) by experimenting (Baxter & Chua, 2008) with concepts developed by Theodore Schatzki and demonstrating their relevance and usefulness in theorizing and explaining accounting and other organizational phenomena. Influenced by Schatzki, I have undertaken a sociological investigation of the practices, arrangements, and nexuses forming (part of) the social ‘site’ of private equity (PE). I have examined and explained the organization of practices within the PE industry. More specifically, I have sought to throw light on the practice organizations animating various PE practices. I have problematized a particular aspect of Schatzki’s practice organization framework: ‘general understanding’, which has so far been poorly understood and taken for granted in the accounting literature. I have tried to further explore the concept to clarify important definitional issues surrounding its empirical application. In investigating the forms of accounting and control practices in PE firms and how they link with other practices forming part of the ‘site’, I have sought to explain how the ‘situated functionality’ of accounting is ‘prefigured’ by its ‘dispersed’ nature. In doing so, this thesis addresses the recent calls for research on accounting and control practices within financial services firms. This thesis contributes to the social studies of finance and accounting literature also by opening the blackbox of investment [e]valuation practices prevalent in the PE industry. I theorize the due diligence of PE funds as a complex of linked calculative practices and bring to fore the important aspects of ‘practical intelligibility’ of the investment professionals undertaking investment evaluation. I also identify and differentiate the ‘causal’ and ‘prefigurational’ relations between investment evaluation practices and the material entities ‘constituting’ those practices. Moreover, I demonstrate the role of practice memory in those practices. Finally, the thesis also contributes to the practice theory literature by identifying and attempting to clarify and/or improve the poorly defined and/or underdeveloped concepts of Schatzki’s ‘site’ ontology framework.

Strategies for sustaining manufacturing competitiveness:comparative case studies in Australia and Sweden

Purpose - The purpose of this paper is to report an investigation of local sustainable production in Australia and Sweden aimed at exploring the factors contributing to survival and competitiveness of manufacturing companies. Design/methodology/approach - In Australia, six companies were studied in 2010, with comparisons being made with three of them from earlier projects. In Sweden, eight manufacturing companies were studied on two occasions 30 years apart, in 1980 and 2010. To provide a valid comparative perspective a common format for data collection and analysis was used. Findings - There has been a shift in the nature of competition in both Sweden and Australia due to an increasing complexity of the global business environment as well as changes in technology and customer expectations. Despite the differences in country context, the findings suggest that all the manufacturing companies have a good awareness of the elements of the market environment and the relationships with their competitive strategy. However, in general, the Swedish companies have more experience of managing the risks and benefits from operating in the international environment. Research limitations/implications - The results of the research are based on a relatively small sample of case companies in a limited number of industrial sectors. There are methodology implications for future research in the area. Practical implications - The research results have practical implications for the manufacturing industry, especially for companies operating in a competitive international environment. Originality/value - The paper is based on original case research and comparative analysis of data from different geographical contexts. It contributes to both theory and management practice about the strategic resources, decision choices, competitive environments and firm values needed to address external market demands as well as in building internal capabilities.

Controllers' Perceptions of the Importance of Accounting Skills to Lodging Managers

Are managerial accounting skills important to all managers? Which of the common managerial accounting skills are the most important to the non- accounting manager? The authors report on their descriptive research gathered from controllers in the hospitality industry which provides guide- lines for managers in these areas.

A Look Back To Look Forward: New Patterns In The Supply/Demand Equation In The Lodging Industry

In his dialogue entitled - A Look Back to Look Forward: New Patterns In The Supply/Demand Equation In The Lodging Industry - by Albert J. Gomes, Senior Principal, Pannell Kerr Forster, Washington, D.C. What the author intends for you to know is the following: “Factors which influence the lodging industry in the United States are changing that industry as far as where hotels are being located, what clientele is being served, and what services are being provided at different facilities. The author charts these changes and makes predictions for the future.” Gomes initially alludes to the evolution of transportation – the human, animal, mechanical progression - and how those changes, in the last 100 years or so, have had a significant impact on the hotel industry. “A look back to look forward treats the past as prologue. American hoteliers are in for some startling changes in their business,” Gomes says. “The man who said that the three most important determinants for the success of a hotel were “location, location, location” did a lot of good only in the short run.” Gomes wants to make you aware of the existence of what he calls, “locational obsolescence.” “Locational obsolescence is a fact of life, and at least in the United States bears a direct correlation to evolutionary changes in transportation technology,” he says. “…the primary business of the hospitality industry is to serve travelers or people who are being transported,” Gomes expands the point. Tied to the transportation element, the author also points out an interesting distinction between hotels and motels. In addressing, “…what clientele is being served, and what services are being provided at different facilities,” Gomes suggests that the transportation factor influences these constituents as well. Also coupled with this discussion are oil prices and shifts in transportation habits, with reference to airline travel being an ever increasing method of travel; capturing much of the inter-city travel market. Gomes refers to airline deregulation as an impetus. The point being, it’s a fluid market rather than a static one, and [successful] hospitality properties need to be cognizant of market dynamics and be able to adjust to the variables in their marketplace. Gomes provides many facts and figures to bolster his assertions. Interestingly and perceptively, at the time of this writing, Gomes alludes to America’s deteriorating road and bridge network. As of right now, in 2009, this is a major issue. Gomes rounds out this study by comparing European hospitality trends to those in the U.S.

The impact of *experience, industry characteristics, and individual differences on audit risk and the extent of testing decisions: An empirical investigation

The first part of the study examined the effect of industry risk changes on perceived audit risk at the financial statement level and whether these changes depended on individual differences such as experience and tolerance for ambiguity. ^ Forty-eight auditors from two offices of one of the “Big 5” CPA firms participated in this study. The ANOVA results supported the effect of industry risk in the assessment of audit risk at the financial statement level. Higher industry risk was associated with higher perceived audit risk. Tolerance for ambiguity was also significant in explaining the changes in the assessment of audit risk. Auditors with a high tolerance for ambiguity perceived lower audit risk than auditors with a low tolerance for ambiguity. Although ANOVA results did not find experience to be significant, a t-test for experience showed it to be marginally significant and inversely related to audit risk. ^ The second part of this study examined whether differences in perceived audit risk at the financial statement level altered the extent, nature or timing of the planned auditing procedures. The results of the MANOVA suggested an overall audit risk effect at the financial statement level. Perceived audit risk was significant in explaining the variation in the number of hours planned for the total cycle and the number of hours p1anned for the tests of balances and details. Perceived audit risk was not significant in determining the analytical review procedures planned, but assessed inherent risk at the cycle level was significant. The higher the inherent risk the more analytical procedures were planned. Perceived audit risk was not significant in explaining the timing of the procedures, but individual differences were significant. The results showed that experienced auditors and those with a high tolerance for ambiguity were less likely to postpone the performance of the interim procedures or the time at which the majority of audit work would be done. ^

Data compilation on the biological response to ocean acidification: environmental and experimental context of data sets and related literature

The exponential growth of studies on the biological response to ocean acidification over the last few decades has generated a large amount of data. To facilitate data comparison, a data compilation hosted at the data publisher PANGAEA was initiated in 2008 and is updated on a regular basis (doi:10.1594/PANGAEA.149999). By January 2015, a total of 581 data sets (over 4 000 000 data points) from 539 papers had been archived. Here we present the developments of this data compilation five years since its first description by Nisumaa et al. (2010). Most of study sites from which data archived are still in the Northern Hemisphere and the number of archived data from studies from the Southern Hemisphere and polar oceans are still relatively low. Data from 60 studies that investigated the response of a mix of organisms or natural communities were all added after 2010, indicating a welcomed shift from the study of individual organisms to communities and ecosystems. The initial imbalance of considerably more data archived on calcification and primary production than on other processes has improved. There is also a clear tendency towards more data archived from multifactorial studies after 2010. For easier and more effective access to ocean acidification data, the ocean acidification community is strongly encouraged to contribute to the data archiving effort, and help develop standard vocabularies describing the variables and define best practices for archiving ocean acidification data.

Nanotechnology in food industry II: risk assessment and legislation

Currently, there is increasing use of nanomaterials in the food industry thanks to the many advantages offered and make the products that contain them more competitive in the market. Their physicochemical properties often differ from those of bulk materials, which require specialized risk assessment. This should cover the risks to the health of workers and consumers as well as possible environmental risks. The risk assessment methods must go updating due to more widespread use of nanomaterials, especially now that are making their way down to consumer products. Today there is no specific legislation for nanomaterials, but there are several european dispositions and regulations that include them. This review gives an overview of the risk assessment and the existing current legislation regarding the use of nanotechnology in the food industry.

The Southern Ocean and South Pacific Region

The Region comprises three sub-regions (FAO Statistical Areas) with very different characteristics. The South Pacific includes the vast and virtually unpopulated Southern Ocean surrounding the Antarctic. It has the world’s largest fisheries off Peru and Chile and some of the world’s best managed fisheries in Australia and New Zealand. The Region has over 27% of the world’s ocean area and over 98% of the Region’s total area of 91 million km2 is ‘open ocean’. The Region contains less than 5% of the global continental shelf area and only a fraction of this area is covered by three large marine ecosystems (the New Zealand Shelf, the Humboldt Current and the Antarctic large marine ecosystems (LMEs). The Humboldt Current System (HCS) is the world’s largest upwelling which provides nutrients for the world’s largest fisheries. The Region also has a high number of seamounts. The marine capture fisheries of the Region produce over 13 million tons annually and an expanding aquaculture industry produces over 1.5 million tons. Peru’s anchoveta fishery provides about half the world’s supply of fish meal and oil, key ingredients of animal and fish feeds. El Niño Southern Oscillations (ENSOs), known more generally as El Niños, can substantially change the species composition of the key small pelagic catches (anchovy, sardine, horse mackerel and jack mackerel) causing production to fluctuate from about 4-8 million tons. Partly due to the lack of upwelling and shelf areas, fisheries production in the Southern Ocean and Area 81 is relatively small but supports economically important commercial and recreational fisheries and aquaculture in New Zealand and in New South Wales (Australia). Krill remains a major underexploited resource, but is also a keystone species in the Antarctic food web. The Region is home to numerous endangered species of whales, seals and seabirds and has a high number of seamounts, vulnerable ecosystems fished for high-value species such as orange roughy.

The Southern Ocean and South Pacific Region

The Region comprises three sub-regions (FAO Statistical Areas) with very different characteristics. The South Pacific includes the vast and virtually unpopulated Southern Ocean surrounding the Antarctic. It has the world’s largest fisheries off Peru and Chile and some of the world’s best managed fisheries in Australia and New Zealand. The Region has over 27% of the world’s ocean area and over 98% of the Region’s total area of 91 million km2 is ‘open ocean’. The Region contains less than 5% of the global continental shelf area and only a fraction of this area is covered by three large marine ecosystems (the New Zealand Shelf, the Humboldt Current and the Antarctic large marine ecosystems (LMEs). The Humboldt Current System (HCS) is the world’s largest upwelling which provides nutrients for the world’s largest fisheries. The Region also has a high number of seamounts. The marine capture fisheries of the Region produce over 13 million tons annually and an expanding aquaculture industry produces over 1.5 million tons. Peru’s anchoveta fishery provides about half the world’s supply of fish meal and oil, key ingredients of animal and fish feeds. El Niño Southern Oscillations (ENSOs), known more generally as El Niños, can substantially change the species composition of the key small pelagic catches (anchovy, sardine, horse mackerel and jack mackerel) causing production to fluctuate from about 4-8 million tons. Partly due to the lack of upwelling and shelf areas, fisheries production in the Southern Ocean and Area 81 is relatively small but supports economically important commercial and recreational fisheries and aquaculture in New Zealand and in New South Wales (Australia). Krill remains a major underexploited resource, but is also a keystone species in the Antarctic food web. The Region is home to numerous endangered species of whales, seals and seabirds and has a high number of seamounts, vulnerable ecosystems fished for high-value species such as orange roughy.

Pig producer perspectives on the use of meat inspection as an animal health and welfare diagnostic tool in the Republic of Ireland and Northern Ireland

Background
Currently, there is growing interest in developing ante and post mortem meat inspection (MI) to incorporate measures of pig health and welfare for use as a diagnostic tool on pig farms. However, the success of the development of the MI process requires stakeholder engagement with the process. Knowledge gaps and issues of trust can undermine the effective exchange and utilisation of information across the supply chain. A social science research methodology was employed to establish stakeholder perspectives towards the development of MI to include measures of pig health and welfare. In this paper the findings of semi-structured telephone interviews with 18 pig producers from the Republic of Ireland and Northern Ireland are presented.

Results
Producers recognised the benefit of the utilisation of MI data as a health and welfare diagnostic tool. This acknowledgment, however, was undermined for some by dissatisfaction with the current system of MI information feedback, by trust and fairness concerns, and by concerns regarding the extent to which data would be used in the producers’ interests. Tolerance of certain animal welfare issues may also have a negative impact on how producers viewed the potential of MI data. The private veterinary practitioner was viewed as playing a vital role in assisting them with the interpretation of MI data for herd health planning.

Conclusions
The development of positive relationships based on trust, commitment and satisfaction across the supply chain may help build a positive environment for the effective utilisation of MI data in improving pig health and welfare. The utilisation of MI as a diagnostic tool would benefit from the development of a communication strategy aimed at building positive relationships between stakeholders in the pig industry.

Big Bath and Impairment of Goodwill : A study of the European telecommunications industry

Income decreasing strategies conducted by management could be harmful for various stakeholders. One example is big bath accounting, which could be accomplished in numer- ous ways. This study focus on big baths achieved by recognising impairments of goodwill. Purpose - The purpose of this study is to examine patterns of association between big bath accounting and impairment of goodwill within the telecommunication service industry in Europe. Further, this study aim at contributing to the discussion regarding utilisation of big baths through impairments of goodwill, and takes the perspective of an external stakehold- er. Delimitations - The study is restricted to European telecommunication entities comprised in STOXX Europe 600 Index. Method - This study was conducted using a hybrid of qualitative and quantitative research strategy with a deductive approach. The five indicators used to identify various big bath behaviours were inspired and derived from theory and previous research. Data from 2009 to 2015 was collected from the companies’ annual reports and websites, and analysed by the help of codification of each fulfilled indicator where 2009 merely served as a compara- tive year for 2010. By the use of a scoreboard the collected data was summarised on an ag- gregated yearly basis as the industry, not the specific companies, were analysed. Empirical findings - The results of this study suggests that big baths are executed among tele- communication companies within Europe. These are conducted simultaneously as impair- ments of goodwill are present, facilitated by earning management. A possible explanation is considered to be the room for interpretation inherent in IAS 36, enabling goodwill impair- ments to be recognised on managers’ command. Thereby an impairment could be “saved” for better or worse circumstances, or recognised when there exist an opportunity to max- imise (the manager's) wealth in the future. This study reveal the co-occurrence of goodwill impairments and big bath-indications, however a review of causal relationships are not en- abled by the limitations of the chosen method. 

Use of sulfuryl fluoride in the management of strongly phosphine-resistant insect pest populations in bulk grain storages in Australia

Sulfuryl fluoride (SF), an effective structural fumigant, is registered recently as Profume™ for controlling insect pests of stored grains and processed commodities. Information on its effectiveness in disinfestation of bulk grain, however, is limited. The ongoing problem with the strong level of resistance to phosphine has been addressed recently through deployment of SF as a ‘resistance breaker’ in bulk storages in Australia. This paper discusses important results on the efficacy of SF against key phosphine- resistant insect pests, lesser grain borer, Rhyzopertha dominca, red flour beetle, Tribolium castaneum, rice weevil, Sitophilus oryzae and the rusty grain beetle, Cryptolestes ferrugineus. We have established CT (g-hm3) profiles for SF against these insect pests at two temperature regimes 25 and 30°C, that showed that both temperature and exposure period (t) has significant influence on the effectiveness of SF than the concentration. Over a seven days fumigation period, CTs of 800 and 400 g-hm3 achieved complete control of all the target pests, including the most strongly phosphine - resistant species, C. ferrugineus at 25 and 30°C, respectively. Results from four industry scale field trials involving currently registered rate of SF (1500 g-hm3) over 2–14 d exposure period, confirmed its effectiveness in achieving complete control of the target pest species. The assessment of postfumigation grain samples across all the test storages indicated that the reinfestation occurs after three months. Monitoring resistance to phosphine in C. ferrugineus over a six year period (2009–2015), showed a significant reduction in resistant populations after the introduction of SF into the fumigation strategy at problematic storage sites. Overall our research concludes that SF is a good candidate to be used as a ‘resistance breaker’ where phosphine resistance is prevalent.

Farm practices to manage the impact of severe tropical cyclone damage on banana production – a case study from tropical Australia

Most Australian banana production occurs on the north-eastern tropical coast between latitudes 15-18°S, and can experience summer cyclone activity. Damage from severe tropical cyclones has serious impact on banana-based livelihoods. The most significant impacts include immediate loss of production and income for several months, the region-wide synchronization of cropping and the expense of rehabilitating affected plantations. Severe tropical cyclones have directly affected the main production region twice in recent years Tropical Cyclone (TC) Larry (Category 4) in March 2006 and TC Yasi (Category 5) in February 2011. Based on TC Larry experiences, pre- and post-cyclone farm practices were developed to reduce these impacts in future cyclonic events. The main pre-cyclone farm practice focused on maintaining production units and an earlier return to fruit production by partially or completely removing the plant canopy to reduce wind resistance. Post-cyclone farm practices focused on managing the industry-wide crop synchronization using crop timing techniques to achieve a staggered return to cropping by scheduling production to provide continuous fruit supply. With TC Yasi in 2011, some banana producers implemented these practices, allowing them to examine their effectiveness in reducing cyclonic impacts. Additional research and development activities were conducted to refine our understanding of their effectiveness and improve their application for future cyclonic events. Based on these activities and farm-based observations, suggested practice-based management strategies can be developed to help reduce the impact of severe tropical cyclones in the future. Canopy removal maintained banana plants as productive units, and provided earlier but smaller bunches, generating earlier-than-expected income. Queensland producers expressed willingness to adopt canopy removal for future cyclone threats where appropriate, despite its labor-intensiveness. Mechanization would allow larger scale adoption. Implementing a staggered cropping program successfully achieved a consistent, continuous fruit supply after a cyclone impact. Both techniques should be applicable to other cyclone-prone regions.

Avian influenza in Australia: a summary of 5 years of wild bird surveillance

BackgroundAvian influenza viruses (AIVs) are found worldwide in numerous bird species, causing significant disease in gallinaceous poultry and occasionally other species. Surveillance of wild bird reservoirs provides an opportunity to add to the understanding of the epidemiology of AIVs. MethodsThis study examined key findings from the National Avian Influenza Wild Bird Surveillance Program over a 5-year period (July 2007-June 2012), the main source of information on AIVs circulating in Australia. ResultsThe overall proportion of birds that tested positive for influenza A via PCR was 1.90.1%, with evidence of widespread exposure of Australian wild birds to most low pathogenic avian influenza (LPAI) subtypes (H1-13, H16). LPAI H5 subtypes were found to be dominant and widespread during this 5-year period. ConclusionGiven Australia's isolation, both geographically and ecologically, it is important for Australia not to assume that the epidemiology of AIV from other geographic regions applies here. Despite all previous highly pathogenic avian influenza outbreaks in Australian poultry being attributed to H7 subtypes, widespread detection of H5 subtypes in wild birds may represent an ongoing risk to the Australian poultry industry.

A new species of gall midge (Diptera: Cecidomyiidae) feeding on ornamental Cordyline fruticosa(Asparagaceae) in Australia

Larvae of an undescribed gall midge were found feeding on leaves and stems within leaf sheaths and between leaf blades of potted plants of Cordyline fruticosa (Asparagaceae) in a production nursery in Queensland. The following varieties of the host plant were infested: Apple Blossom', Glauca', Kilauea', Negra', Pink Diamond, 'Purple Prince' and Willy's Gold'. The new species, Dasineura cordylineaeKolesik sp. nov., is described and its cytochrome oxidase unit I mitochondrial gene segment is sequenced. The new species is the first known gall midge feeding on a plant species of the genus Cordyline. Orange larvae induce oval shallow swellings on the leaf and stem tissue, which becomes necrotised during the later stage of larval feeding. Necrotic areas remain visible to the end of leaves' lives and decrease the market value of the plants. In the production nursery investigated, the lesions caused by the gall midge provided an entry for a fungal infection by Fusarium sp. inflicting further injury to plants. Larvae of the new species were preyed on by larvae of Gaurax sp. (Diptera: Chloropidae). This is the first worldwide record of Chloropidae preying on Cecidomyiidae.