The Politics of Permaculture: Towards an Ecologically Situated Approach to Resource Policy and Governance

The contributions to environmental politics of Torgerson, Oelschlager, Dryzek, Harrè and others, converge in their respective acknowledgements that the shift towards an ‘ecologically situated’ approach to environmental policy, including resource governance, will require the emergence and consolidation of a new lingua franca of environmental discourse. In this paper, I suggest that an extrapolation of permaculture ethics may provide a gambit through which such a discourse may be assembled and organised. I examine six key signifying elements derived from Orr and Capra’s approach to ecological literacy – network, nested system, flow, cycle, development and dynamic balance – and explore the implications that these might have for resource governance and policy, including the (re)framing of assessment indicators, energy auditing, resource management and integrated planning and development.

A JUSTIÇA EM PAUTA: O Poder Judiciário Brasileiro na Mídia Impressa

Pesquisa realizada nos principais veículos da mídia impressa nacional, entre os meses de julho e dezembro de 2007, com o objetivo de verificar qual é a imagem do Poder Judiciário Brasileiro divulgada pelos veículos, interpretando os principais temas abordados nas publicações e a angulação das matérias. Utilizou-se a análise de conteúdo e a ferramenta da auditoria de imagem na mídia. Concluiu-se na pesquisa que o Poder Judiciário Brasileiro é foco da mídia impressa principalmente quando analisa processos relativos a pessoas públicas, especialmente parlamentares. Também por esse motivo, observou-se que a maior parte das matérias citava a atuação do Supremo Tribunal Federal, órgão máximo da justiça brasileira e responsável pelo julgamento de senadores, principais focos das matérias e autoridades com di-reito a foro privilegiado. Além disso, chegou-se à conclusão de que a maioria das matérias re-fere-se a processos ainda em curso, evidenciando-se que não há um acompanhamento fre-qüente das decisões e sentenças dos órgãos do judiciário. Embora a análise seja referente a um período delimitado, evidenciaram-se falhas na comunicação do judiciário e foram apresenta-das sugestões para aprimorar essa comunicação. (AU)

Transplanting Anglo-American accounting oversight boards to a diverse institutional context

The introduction of accounting and auditing oversight boards (OBs) has been promoted on a global scale as a key component of the international financial architecture that has emerged over the past two decades. Such institutions, modeled on the Anglo-American tradition, are domestically organized and embedded within distinctively diverse institutional contexts. Their role is to ease agency problems, improve the quality of financial reporting, and help provide stability in the global financial system. We employ an institutional approach, located within the broader political economy framework of global capitalism, to examine the establishment and operation of the new regulatory regime in Greece. Greece, a member of the European Union, exhibits characteristics of a "delegative" democracy, i.e. a traditionally weak institutionalization, reform (in)capacity problems and a clientelistic political system. Our case study shows that the formation and operation of the newly-established system of oversight is conditioned by local political and economic constraints and, thus, does not automatically translate into concrete benefits for the quality of financial reporting. We also draw attention to the structural mismatch between a progressing globalized financial integration and the fragmented nature of the system of oversight, and illustrate that OBs' independence from local governments is an important but neglected issue.

Corporate governance and the timeliness of corporate internet reporting by U.K. listed companies

This study is an examination of the timeliness of corporate internet reporting by U.K. companies listed on the London Stock Exchange (LSE). The research examines the significance of several corporate governance and firm-specific characteristics as potential determinants of the timeliness of corporate internet reporting. Our primary analysis provides evidence of a significant association between timely corporate internet reporting and the corporate governance characteristics of board experience and board independence. Our findings provide evidence that boards with less cross directorships, more experience in terms of the average age of directors, and lower length in service for executive directors provide more timely corporate internet reporting.We find that board independence is negatively associated with timely corporate internet reporting. Follow-up analysis provides additional evidence of a significant association between the timeliness of corporate internet reporting and board experience. The evidence indicates that role duality and block ownership are associated with less timely corporate internet reporting. Our findings also reveal strengths and weaknesses in the Internet reporting of U.K. listed companies. Companies need to voluntarily focus on improving the timeliness dimension of their corporate internet reporting so that the EU and U.K. accounting regulators do not replace recommendations with regulations.

Introducing international accounting standards to an emerging capital market: relative familiarity and language effect in Egypt

The purpose of this study is to assess the effect of relative familiarity and language accessibility on the International Accounting Standards (IASs) disclosures when IASs are first introduced in an emerging capital market. The study focuses on the annual reports of listed non-financial companies in Egypt when IASs were first introduced. The method used applies a disclosure index measurement to a sample of listed company annual reports and evaluates relative compliance with IASs in relation to corporate characteristics. The results show that for relatively less familiar requirements of IASs, the extent of compliance is related to the type of audit firm used and to the presence of a specific statement of compliance with IASs. A lower degree of compliance with less familiar IASs disclosure is observed consistently across a range of company characteristics. Consideration of agency theory and capital need theory would lead to prior expectation of a distinction in disclosure practices between different categories of companies. The results were, therefore, counterintuitive to expectations where the regulations were unfamiliar or not available in the native language, indicating that new variables have to be considered and additional theoretical explanations have to be found in future disclosure studies on emerging capital markets.

Big 4 audit fee premiums for national and office-level industry leadership in the United Kingdom

The pricing of Big 4 industry leadership Is examined for a sample of U.K. publicly-listed companies, and adds to the evidence from the Australian and U.S. audit markets that city-specific industry leadership commands a fee premium. There is a significant fee premium for city-specific industry leaders relative to other Big 4 auditors, but no evidence that either the top-ranked or second-ranked firm nationally commands a fee premium relative to other Big 4 auditors, after controlling for city-level industry leadership. We also test for Big 4 fee premiums relative to non-Big 4 auditors and the U.K. data suggest a three-level hierarchy based on audit fee differentials: (1) Big 4 city-specific industry leaders have the largest fees; (2) other Big 4 auditors (noncity leaders) and second-tier national firms have comparable fees that are lower than Big 4 city leaders but larger than third-tier firms; and (3) third-tier accounting firms have the lowest fees.

The market for professional services in Indonesia

This paper reports the results of a study which investigates the market for professional services in Indonesia, a country which has not been investigated in the by audit fee literature prior. A well-developed research model used in the prior literature has also been applied in this study, and the empirical findings suggest broad similarities in the pricing of professional services in Indonesia and other countries previously studied. In addition to extending the results of prior research to a country not previously studied, this paper examines whether the large auditors fee premium documented in other countries exists in Indonesia, especially after the major Asian financial crisis of 1997/98, since then almost all companies in this geographical area exercise tight budget controls. The results suggest that no audit fee premium is accrued to Indonesian Big 5 auditors, in contrast to the large audit firm fee premium documented in many other countries.