Reconstructing ethical conduct within financial firms

This chapter explores whether ethical cultures can be created within a financial market context. Ongoing regulatory and legal actions, and press coverage of these, suggest that a definition of ethical problems in terms of ‘rogue traders’ and ‘bad apples’ would be inadequate, since entire business areas have been resorting to collusive illegal behaviour. The concept of ‘bad barrels’ seems to capture the situation rather better: the culture of firms fails to discourage transgression and indeed supports it. Unpacking the links between regulatory objectives and the cultural settings of firms and their employees, this chapter questions the chances of success of measures such as enhanced controls on individuals and restructured reward mechanisms. Financial firms typically have very flat, nodal structures, within which traders conceptualise themselves as an elite, in contrast to back office staff and also in contrast to managers. Traders’ functions and their occupational mobility mean that their linkages and attachments may be much stronger with others outside ‘their’ firm than their firm and those within it. Performance, camaraderie and their linkages are important in all work situations, yet all the more so for traders in financial markets. Thus, whether regulators and senior management combine to send a clear and consistent message to traders – or whether the logic of the financial marketplace leads some firms to continue send conflicting or ambivalent messages to them – misconduct is likely to continue to be a tough nut to crack.

Metabolomics reveals novel biomarkers of illegal 5-nitromimidazole treatment in pigs. Further evidence of drug toxicity uncovered

The aim of the study was to investigate the potential of a metabolomics platform to distinguish between pigs treated with ronidazole, dimetridazole and metronidazole and non-medicated animals (controls), at two withdrawal periods (day 0 and 5). Livers from each animal were biochemically profiled using UHPLC–QTof-MS in ESI+ mode of acquisition. Several Orthogonal Partial Least Squares-Discriminant Analysis models were generated from the acquired mass spectrometry data. The models classified the two groups control and treated animals. A total of 42 ions of interest explained the variation in ESI+. It was possible to find the identity of 3 of the ions and to positively classify 4 of the ionic features, which can be used as potential biomarkers of illicit 5-nitroimidazole abuse. Further evidence of the toxic mechanisms of 5-nitroimidazole drugs has been revealed, which may be of substantial importance as metronidazole is widely used in human medicine.

Fish product mislabelling: failings of traceability in the production chain and implications for illegal, unreported and unregulated (IUU) fishing

Increasing consumer demand for seafood, combined with concern over the health of our oceans, has led to many initiatives aimed at tackling destructive fishing practices and promoting the sustainability of fisheries. An important global threat to sustainable fisheries is Illegal, Unreported and Unregulated (IUU) fishing, and there is now an increased emphasis on the use of trade measures to prevent IUU-sourced fish and fish products from entering the international market. Initiatives encompass new legislation in the European Union requiring the inclusion of species names on catch labels throughout the distribution chain. Such certification measures do not, however, guarantee accuracy of species designation. Using two DNA-based methods to compare species descriptions with molecular ID, we examined 386 samples of white fish, or products labelled as primarily containing white fish, from major UK supermarket chains. Species specific real-time PCR probes were used for cod (Gadus morhua) and haddock (Melanogrammus aeglefinus) to provide a highly sensitive and species-specific test for the major species of white fish sold in the UK. Additionally, fish-specific primers were used to sequence the forensically validated barcoding gene, mitochondrial cytochrome oxidase I (COI). Overall levels of congruence between product label and genetic species identification were high, with 94.34% of samples correctly labelled, though a significant proportion in terms of potential volume, were mislabelled. Substitution was usually for a cheaper alternative and, in one case, extended to a tropical species. To our knowledge, this is the first published study encompassing a large-scale assessment of UK retailers, and if representative, indicates a potentially significant incidence of incorrect product designation.

Gene-associated markers provide tools for tackling illegal fishing and false eco-certification

Illegal, Unreported and Unregulated fishing has had a major role in the overexploitation of global fish populations. In response, international regulations have been imposed and many fisheries have been 'eco-certified' by consumer organizations, but methods for independent control of catch certificates and eco-labels are urgently needed. Here we show that, by using gene-associated single nucleotide polymorphisms, individual marine fish can be assigned back to population of origin with unprecedented high levels of precision. By applying high differentiation single nucleotide polymorphism assays, in four commercial marine fish, on a pan-European scale, we find 93-100% of individuals could be correctly assigned to origin in policy-driven case studies. We show how case-targeted single nucleotide polymorphism assays can be created and forensically validated, using a centrally maintained and publicly available database. Our results demonstrate how application of gene-associated markers will likely revolutionize origin assignment and become highly valuable tools for fighting illegal fishing and mislabelling worldwide.

Open for Business: Universities, Entrepreneurial Academics and Open Innovation

The emergence of open innovation theory and practice, alongside the evolution to a quadruple helix system of innovation, has led to a need for universities to rethink their models of engagement with industry and wider society. One important element in this system is the entrepreneurial academics; however there is a lack of research considering the motivations of entrepreneurial academics, who differ from academic entrepreneurs, to engage in knowledge transfer in line with open innovation policy. This research offers practical insights on whether new models of engagement, increasingly offered by universities, really address the policy drivers for open innovation. Furthermore, this research explores whether these activities might motivate entrepreneurial academics to participate. Preliminary findings identify that many supposedly new collaboration activities do not really motivate entrepreneurial academics. This may have important implications on the ability of universities to become truly open and to encourage their academics to become engaged in collaboration and impact.

Can Future Managers and Business Executives be Influenced to Behave more Ethically in the Workplace? The Impact of Approaches to Learning on Business Students’ Cheating Behavior

This study considers the potential for influencing business students to become ethical managers by directing their undergraduate learning environment. In particular, the relationship between business students’ academic cheating, as a predictor of workplace ethical behavior, and their approaches to learning is explored. The three approaches to learning identified from the students’ approaches to learning literature are deep approach, represented by an intrinsic interest in and a desire to understand the subject, surface approach, characterized by rote learning and memorization without understanding, and strategic approach, associated with competitive students whose motivation is the achievement of good grades by adopting either a surface or deep approach. Consistent with the hypothesized theoretical model, structural equation modeling revealed that the surface approach is associated with higher levels of cheating, while the deep approach is related to lower levels. The strategic approach was also associated with less cheating and had a statistically stronger influence than the deep approach. Further, a significantly positive relationship reported between deep and strategic approaches suggests that cheating is reduced when deep and strategic approaches are paired. These findings suggest that future managers and business executives can be influenced to behave more ethically in the workplace by directing their learning approaches. It is hoped that the evidence presented may encourage those involved in the design of business programs to implement educational strategies which optimize students’ approaches to learning towards deep and strategic characteristics, thereby equipping tomorrow’s managers and business executives with skills to recognize and respond appropriately to workplace ethical dilemmas.

The role of English in international business: the case of China

Esta tese propõe-se examinar o papel e estatuto do Inglês nos negócios internacionais na China, tomando como enquadramento a transformação deste país desde 1978 até ao presente. No quadro actual da globalização e internacionalização sociais e económicas, apresenta-se uma perspectiva das tendências demográficas e padrões económicos bem como a situação social e cultural actual da China. A relação entre a língua inglesa e práticas e valores associados e a cultura dos negócios na China também foi investigada através de um trabalho de campo realizado em empresas nacionais e internacionais, localizadas em diferentes regiões da China, em 2007 e 2008. Através dos resultados deste estudo, reconhecemos a máxima importância atribuída tanto à língua inglesa como à comunicação intercultural pela população inquirida, sublinhando a necessidade de desenvolver as competências interculturais e linguísticas orientadas para a gestão eficiente dos negócios. Com base nos nossos resultados, pode ser extraída a conclusão de que o Inglês funciona como uma ferramenta principal e um abrir de caminhos para encurtar a lacuna linguística e cultural entre as diferentes comunidades empresariais. Ajuda a China a adaptar-se e interagir com outras culturas e chegar harmoniosamente ao principio “win-win”, ou seja, alcançar o sucesso esperado nos negócios internacionais de hoje. Por outro lado, torna-se claro que os papéis, a natureza e o estatuto do Inglês/”Englishes” evoluem a par de processos de mudança social, cultural e económica. Prevê-se que esta evolução continuará, ficando a paisagem linguística mais complexa. Espera-se que este trabalho contribua para a melhor compreensão das relações entre a China e o resto do mundo.

DACA: architecture to implement dynamic access control mechanisms on business tier components

Access control is a software engineering challenge in database applications. Currently, there is no satisfactory solution to dynamically implement evolving fine-grained access control mechanisms (FGACM) on business tiers of relational database applications. To tackle this access control gap, we propose an architecture, herein referred to as Dynamic Access Control Architecture (DACA). DACA allows FGACM to be dynamically built and updated at runtime in accordance with the established fine-grained access control policies (FGACP). DACA explores and makes use of Call Level Interfaces (CLI) features to implement FGACM on business tiers. Among the features, we emphasize their performance and their multiple access modes to data residing on relational databases. The different access modes of CLI are wrapped by typed objects driven by FGACM, which are built and updated at runtime. Programmers prescind of traditional access modes of CLI and start using the ones dynamically implemented and updated. DACA comprises three main components: Policy Server (repository of metadata for FGACM), Dynamic Access Control Component (DACC) (business tier component responsible for implementing FGACM) and Policy Manager (broker between DACC and Policy Server). Unlike current approaches, DACA is not dependent on any particular access control model or on any access control policy, this way promoting its applicability to a wide range of different situations. In order to validate DACA, a solution based on Java, Java Database Connectivity (JDBC) and SQL Server was devised and implemented. Two evaluations were carried out. The first one evaluates DACA capability to implement and update FGACM dynamically, at runtime, and, the second one assesses DACA performance against a standard use of JDBC without any FGACM. The collected results show that DACA is an effective approach for implementing evolving FGACM on business tiers based on Call Level Interfaces, in this case JDBC.

The economic consequences of Portuguese State’s movement towards business sector

Over the last 36 years, the relationship with the Portuguese state-owned enterprises registered several dynamics: nationalizations, privatizations and corporatization of public services. However, until now the State Business Sector from a national accounts perspective was never analyzed. Based on data collected and compiled for the first time at Statistics Portugal, this PhD thesis aims to test, analyzing in eight dimensions, whether the weight of the State Business Sector increased and if it contributed positively to the Portuguese economy, from 2006 to 2010. In addition to this analysis, an overview of the economic theory of state intervention in the economy, the paradigm changes of public policy in the international context, the evolution of the Portuguese State Business Sector since 1974, accompanied with a business and national accounting perspective between 2006 and 2010, are also presented. The results allow us to conclude that, in general, the weight of the State Business Sector in the Portuguese economy increased and had a tendency of a positive contribution to its economic growth. The State Business Sector also contributed positively to the nominal labour productivity (although with a decreasing trend of contribution to growth over the period under review) and the profitability of the non-financial corporations sector (although impairing the overall ratio of this sector). Nonetheless, the State Business Sector contributed negatively to the fairness in compensation of employees (although with an improvement trend) and to the competitiveness of labour cost, investment and sectorial sustainability of the Portuguese economy (reinforced by a falling trend). The results also suggest that the State Business Sector had an economic behaviour closer to a welfare maximizing model than to a profit maximizing model. This distinct performance with respect to the institutional sector in which is included, highlights the need to study and reassess the relationship of the state with public corporations, in light of agency theory using micro-data. Lastly, contributions to improve the economic performance of the State Business Sector and future prospects of evolution are presented.

South Carolina business opportunities

This is a listing, published twice per week, of proposed procurements in construction, information technology, supplies & services as well as other information of interest to the business community.

South Carolina business opportunities

This is a listing, published twice per week, of proposed procurements in construction, information technology, supplies & services as well as other information of interest to the business community.

South Carolina business opportunities

This is a listing, published twice per week, of proposed procurements in construction, information technology, supplies & services as well as other information of interest to the business community.