The value of corporate reputation and the Defamation Act 2013:a brave new world or road to ruin?

Questions whether the focus on freedom of expression under the Defamation Act 2013 could undermine the value of corporate reputation as a commercial asset.

Construction Innovation Futures - Industry and Environmental Opportunities.

During the next two decades global construction investment will top $100 trillion (US). New directions in construction innovation will be driven by industry to address challenges in skills, environmental regulations and maximise the benefits of low carbon building systems. Growth productivity catalysts such as offsite construction, higher BIM levels and multi-skill operatives will be instrumental contributors in achieving some of these aims. The increasing use of timber architecture across domestic, public and commercial buildings also opens new pathways. This event will discuss some of the key changes taking place in the UK and parallels with Hong Kong’s ambitions towards delivering a sustainable legacy in this sector.

What is the value of corporate sponsorship in sports?

This paper investigates the stock market reaction to investor mood swings resulting from the Indian Premier League (IPL) cricket matches. We find that stocks listed on the Bombay Stock Exchange (BSE) that sponsor the IPL cricket are unaffected by the cricket matches. This finding is robust along two lines: (a) the effect is insignificant both statistically and economically which we demonstrate using a simple trading strategy; and (b) results hold across a wide range of portfolios. Our results, both statistical and trading strategy-based, suggest that the portfolios of companies that sponsor cricket in India are efficient. Our findings stand in sharp contrast to the evidence obtained by the broader sports literature suggesting that sports actually impact stock returns, driven principally by psychological factors.

Regulating for corporate human rights abuses : the emergence of corporate reporting on the ILO’s human rights standards within the global garment manufacturing and retail industry

Despite the ubiquitous nature of the discourse on human rights there is currently little research on the emergence of disclosure by multinational corporations on their human rights obligations or the regulatory dynamic that may lie behind this trend. In an attempt to begin to explore the extent to which, if any, the language of human rights has entered the discourse of corporate accountability, this paper investigates the adoption of the International Labour Organisation's (ILO) human rights standards by major multinational garment retail companies that source products from developing countries, as disclosed through their reporting media. The paper has three objectives. Firstly, to empirically explore the extent to which a group of multinational garment retailers invoke the language of human rights when disclosing their corporate responsibilities. The paper reviews corporate reporting media including social responsibility codes of conduct, annual reports and stand-alone social responsibility reports released by 18 major global clothing and retail companies during a period from 1990 to 2007. We find that the number of companies adopting and disclosing on the ILO's workplace human rights standards has significantly increased since 1998 – the year in which the ILO's standards were endorsed and accepted by the global community (ILO, 1998). Secondly, drawing on a combination of Responsive Regulation theory and neo-institutional theory, we tentatively seek to understand the regulatory space that may have influenced these large corporations to adopt the language of human rights obligations. In particular, we study the role that International Governmental Organisation's (IGO) such as ILO may have played in these disclosures. Finally, we provide some critical reflections on the power and potential within the corporate adoption of the language of human rights.

Historical antecedents shaping corporate reporting in Iran

This research paper examines the evolution of corporate reporting and governance in Iran over the last century. The approach adopted was to provide an historical perspective to examine the environment within which Iranian corporate reporting has emerged and been shaped. An historical framework allows the study to focus on the evolution and development of corporate reporting practice in Iran. By adopting an historical framework, this study is able to inform future research based on models that adopt an evolutionary approach to the assessment of environmental factors on economic systems. The conclusion reached in this study is that socio-economic and political changes during the century have been opportune as drivers of corporate reporting in Iran. The study makes an incremental contribution to the existing accounting history literature for Asia / Middle East / developing countries.

The poetics of corporate reporting:evidence from the UK water industry

This paper is predicated upon the assumption that the annual accounts of companies constitute important corporate artefacts in their own right that are both image and rhetoric intensive. The objective is to import concepts from structural poetics and bring them to bear on annual corporate reports. The understanding of the poetics of corporate reporting in this manner is of importance as it allows the consideration of the relationship between the audience and the authors of the script to be explored. We do this by analysing the annual reports of various water companies in the UK.

The dialectics of corporate reporting:a semiotic analysis of corporate financial and environmental reporting

The central argument to this thesis is that the nature and purpose of corporate reporting has changed over time to become a more outward looking and forward looking document designed to promote the company and its performance to a wide range of shareholders, rather than merely to report to its owners upon past performance. it is argued that the discourse of environmental accounting and reporting is one driver for this change but that this discourse has been set up as in conflicting with the discourse of traditional accounting and performance measurement. The effect of this opposition between the discourses is that the two have been interpreted to be different and incompatible dimensions of performance with good performance along one dimension only being achievable through a sacrifice of performance along the other dimension. Thus a perceived dialectic in performance is believed to exist. One of the principal purposes of this thesis is to explore this perceived dialectic and, through analysis, to show that it does not exist and that there is not incompatibility. This exploration and analysis is based upon an investigation of the inherent inconsistencies in such corporate reports and the analysis makes use of both a statistical analysis and a semiotic analysis of corporate reports and the reported performance of companies along these dimensions. Thus the development of a semiology of corporate reporting is one of the significant outcomes of this thesis. A further outcome is a consideration of the implications of the analysis for corporate performance and its measurement. The thesis concludes with a consideration of the way in which the advent of electronic reporting may affect the ability of organisations to maintain the dialectic and the implications for corporate reporting.

Applying the open innovation system concept to infrastructure projects

Purpose: The goal of this conceptual paper is to provide tools to help maximise the value delivered by infrastructure projects, by developing methods to increase adoption of innovative products during construction. Methods: The role of knowledge flows in determining innovation adoption rates is conceptually examined. A promising new approach is developed. Open innovation system theory is extended, by reviewing the role of three frameworks: (1) knowledge intermediaries, (2) absorptive capacity and (3) governance arrangements. Originality: We develop a novel open innovation system model to guide further research in the area of adoption of innovation on infrastructure projects. The open innovation system model currently lacks definition of core concepts, especially with regard to the impact of different degrees and types of openness. The three frameworks address this issue and add substance to the open innovation system model, addressing widespread criticism that it is underdeveloped. The novelty of our model is in the combination of the three frameworks to explore the system. These frameworks promise new insights into system dynamics and facilitate the development of new methods to optimise the diffusion of innovation. Practical Implications: The framework will help to reveal gaps in knowledge flows that impede the uptake of innovations. In the past, identifying these gaps has been difficult given the lack of nuance in existing theory. The knowledge maps proposed will enable informed policy advice to effectively harness the power of knowledge networks, increase innovation diffusion and improve the performance of infrastructure projects. The models developed in this paper will be used in planned empirical research into innovation on large scale infrastructure projects in the Australian built environment.

Investment decision-making under risk (reliability) and uncertainty for infrastructure asset management

Risks and uncertainties are inevitable in engineering projects and infrastructure investments. Decisions about investment in infrastructure such as for maintenance, rehabilitation and construction works can pose risks, and may generate significant impacts on social, cultural, environmental and other related issues. This report presents the results of a literature review of current practice in identifying, quantifying and managing risks and predicting impacts as part of the planning and assessment process for infrastructure investment proposals. In assessing proposals for investment in infrastructure, it is necessary to consider social, cultural and environmental risks and impacts to the overall community, as well as financial risks to the investor. The report defines and explains the concept of risk and uncertainty, and describes the three main methodology approaches to the analysis of risk and uncertainty in investment planning for infrastructure, viz examining a range of scenarios or options, sensitivity analysis, and a statistical probability approach, listed here in order of increasing merit and complexity. Forecasts of costs, benefits and community impacts of infrastructure are recognised as central aspects of developing and assessing investment proposals. Increasingly complex modelling techniques are being used for investment evaluation. The literature review identified forecasting errors as the major cause of risk. The report contains a summary of the broad nature of decision-making tools used by governments and other organisations in Australia, New Zealand, Europe and North America, and shows their overall approach to risk assessment in assessing public infrastructure proposals. While there are established techniques to quantify financial and economic risks, quantification is far less developed for political, social and environmental risks and impacts. The report contains a summary of the broad nature of decision-making tools used by governments and other organisations in Australia, New Zealand, Europe and North America, and shows their overall approach to risk assessment in assessing public infrastructure proposals. While there are established techniques to quantify financial and economic risks, quantification is far less developed for political, social and environmental risks and impacts. For risks that cannot be readily quantified, assessment techniques commonly include classification or rating systems for likelihood and consequence. The report outlines the system used by the Australian Defence Organisation and in the Australian Standard on risk management. After each risk is identified and quantified or rated, consideration can be given to reducing the risk, and managing any remaining risk as part of the scope of the project. The literature review identified use of risk mapping techniques by a North American chemical company and by the Australian Defence Organisation. This literature review has enabled a risk assessment strategy to be developed, and will underpin an examination of the feasibility of developing a risk assessment capability using a probability approach.

Knowledge infrastructure : managing the assets of creative urban regions

Urban infrastructure along the hard forms such as roads, electricity, water and sewers also includes the soft forms such as research, training, innovation and technology. Knowledge and creativity are keys to soft infrastructure and socioeconomic development. Many city administrations around the world adjust their endogenous development strategies increasingly by investing in soft infrastructure and aiming for a knowledge-based development. At this point, the mapping and management of knowledge asset of cities has become a critical issue for promoting creative urban regions. The chapter scrutinizes the relations between knowledge assets and urban infrastructures and examines the management model to improve soft infrastructure provision.

Material Logistics in Urban Construction Sites: A Structural Equation Model

Aim: The aim of this paper is to identify best practice relating to the effective management of materials in an urban, confined construction site, using structural equation modelling.

Methodology: A literature review, case study analysis and questionnaire survey are employed, with the results scrutinised using confirmatory factor analysis in the form of structural equation modelling.

Results: The following are the leading strategies in the management of materials in a confined urban site environment; (1) Consult and review the project programme, (2) Effective communication and delivery, (3) Implement site safety management plans, and (4) Proactive spatial monitoring and control.

Implication for Practice: With the relentless expansion of urban centres and the increasing high cost of materials, any potential savings made on-site would translate into significant monetary concessions on completion of a development.

Originality/Value: As on-site project management professionals successfully identify and implement the various strategies in the management of plant and materials on a confined urban site, successful resource management in this restrictive environment is attainable.

Innovative Aspect of Paper: An empirical study of three different construction sites in three different countries (Ireland, England and USA) together with a questionnaire survey from the industry, investigating the managerial strategies in the management of plant and material in confined urban site environments