Reviewing the hedge funds literature I:hedge funds and hedge funds' managerial characteristics

This paper summarizes the literature on hedge funds (HFs) developed over the last two decades, particularly that which relates to managerial characteristics (a companion piece covers the return and risk management characteristics of HFs). It classifies, the current HF literature, suggesting which critical problems have been “solved” and which problems have not been yet adequately addressed. It also discusses the effects of past financial regulation and the prospects for the effect of new financial regulation on the HF industry and its performance and risk management practices, and suggests new avenues for research. Furthermore, it highlights the importance of managerial characteristics for HF performance, and the successes and the shortfalls to date in developing more sophisticated HF-related risk management tools.

Privatisation and accountability in a “crony capitalist” Nigerian state

Nigeria is richly endowed with oil and gas resources, but the country’s continued reliance on loans from international financial institutions raises questions about the transparency and accountability of its utilisation of the huge revenues resulting from these two resources. In order to attract international capital to bolster its revenues from sales of oil and gas, a huge proportion of which continues to be used corruptly, the World Bank has encouraged the Nigerian government to subscribe to neoliberal economic policies by enlisting accounting firms and privatising state-owned enterprises. Key justifications for this have included enhancing accountability, reducing public-sector corruption, promoting market efficiency and attracting international capital. However, this paper presents evidence of the role of accounting in the undervaluation of assets, concealment of possible malpractice, and subversion of the accountability that it should have delivered in the privatisation process. The assumption that accounting will enhance accountability, reduce public-sector corruption and promote market efficiency in privatisation, and ultimately attract investment into a crony capitalist Nigerian state, appears to be an illusion created partly through the apparent legitimacy of accounting.

¿Siguen las ONG españolas los mecanismos voluntarios de accountability? Análisis del seguimiento de un grupo de ONG españolas de los principios propuestos por la Fundación Lealtad

Este trabajo comienza con una introducción en la que hacemos una reflexión sobre la importancia de transparencia en la información suministrada por las ONG, debido a que estimula a los donantes y al público en general, a depositar su confianza en las mismas, no solo respecto de la rendición de cuentas legalista, sino también para el resto de información que los usuarios solicitan. Respecto de la información contable, reconocemos la gran importancia que el informe de auditoría tiene, proporcionando calidad a los estados contables de las organizaciones. Por otra parte y centrándonos nuevamente en el contexto de España, analizamos el grado de aplicación de las normas contables y otras “buenas prácticas” de un grupo de ONG a partir de la información publicada por la Fundación Lealtad. A continuación intentamos comprobar si el no seguimiento de las “buenas prácticas” anteriores podría venir explicado por una serie de variables.

Investigation of managerial capabilities and challenges of a core plant role

The competiveness within the global market has forced large manufacturing companies to reorganize their global operations. To act proficiently abroad is therefore no longer a choice but an important prerequisite. In global production networks, there are different plant roles that serve different purposes. One of the important roles within these networks is the core plant role. There are limited amount of the researches done regarding the core plant role. There is also a lack of consistency regarding the definition of the core plant role. It is also evident that there is a knowledge gap regarding the managerial aspects of this plant role both in the academia and in the industry. Managing a core plant requires certain capabilities. It is important to target this knowledge gap since global manufacturing is becoming a common norm for large enterprises and the importance of the core plant role is getting more evident. There is also a lack of understanding towards the challenges that a core plant must deal with both within the organization and globally towards the other plants within the manufacturing network. To address this knowledge gap further, two research questions were created ―What key capabilities are required in order to manage the core plant role?” (RQ1) and ―What are the main challenges in managing the core plant role?” (RQ2). Case study was chosen as the research method for this study since it is the most appropriate method when investigating a phenomenon in its own context. Interviews were the main research technique used to collect data. 18 semi-structured interviews were conducted in eight different cases. A literature review was conducted and was the foundation for the interview guide used in the interviews and for the data analysis. The results show that various capabilities are important for the management of the core plant role. Proximity to R&D and knowledge were the most emphasized factors. For the main challenges in terms of managing a core plant, the communication, cooperation and coordination where the most challenging aspects. Based upon finding, two frameworks have been proposed a concluding generalization and contribution of this research study. The study provides a generalization based upon data that has been collected from companies from different industries. These findings are a contribution towards both the large enterprises operating globally and the academia. 

South Carolina Workers= Compensation Commission ANNUAL ACCOUNTABILITY REPORT Fiscal Year 1999-2000

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

South Carolina Workers= Compensation Commission ANNUAL ACCOUNTABILITY REPORT Fiscal Year 2000-2001

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

South Carolina Worker's Compensation Commission ANNUAL ACCOUNTABILITY REPORT Fiscal Year 2001-2002

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

South Carolina Workers Compensation Commission ANNUAL ACCOUNTABILITY REPORT Fiscal Year 2002-2003

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

South Carolina Workers' Compensation Commission ANNUAL ACCOUNTABILITY REPORT Fiscal Year 2003-2004

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

South Carolina Workers' Compensation Commission ANNUAL ACCOUNTABILITY REPORT Fiscal Year 2004-2005

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

South Carolina Workers' Compensation Commission Annual Accountability Report 2005-2006

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

South Carolina Workers' Compensation Commission Annual Accountability Report 2006-2007

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

South Carolina Workers' Compensation Commission Annual Accountability Report 2007-2008

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

South Carolina Workers' Compensation Commission Annual Accountability Report 2009-2010

This annual accountability report includes the year in review highlighting the mission, key accomplishments, program overviews, and outcomes.

Annual Accountability Report for FY 1996/97

Each year the South Carolina Department of Natural Resources reports to the Office of State Budget that includes the agency's mission, goals and objectives to accomplish the mission, and performance measures regarding the goals and objectives.