Regulation and Enforcement of Financial Reporting in Austria

This paper provides an overview of financialreporting instruments and enforcementmechanisms in Austria, with special emphasis onthe role of the courts in this process. Formerresearch in this area has either focused on thecontent of judicial rulings and interpretationsof the law or on the interplay betweenregulation and creative accounting, whereasthis paper focuses on the involvement of courtsand administrative authorities in theregulation and enforcement process by means ofa statistical analysis of judicial rulings andinterpretations of the law in the case ofAustria between 1990 and 2003. TheAdministrative Court, in its role as thehighest court of appeal in all tax matters,emerges as by far the most active enforcementagent in Austria. This is a direct result offiscal authorities fulfilling the role of anenforcement agency of financial reportingregulations in Austria. Regulation andenforcement of financial reporting regulationsoccur less frequently in the civil and criminalcourts and emerge as a by-product of companylitigation issues. Almost fifty percent ofcases are not primarily concerned with theenforcement of accounting regulations, but withthe enforcement of filing regulations.     

The Use of Surveillance Technologies in Planning Enforcement

This article explores the use of surveillance technologies in planning enforcement. Using literature from surveillance studies, it explores the use of well-established and more recent ‘surveillance technologies’, including aerial photography, closed-circuit television and the Street View function in Google Maps. The article identifies the varying use of these technologies in planning enforcement and explains the reasons for this using concepts derived from surveillance studies.     

Alignment between Quality Enforcement Devices and Governance Structures in the Agro-food Vertical Chains

Using a Transaction Cost Economics framework, this paper studies how supply chain governance are aligned with the type of quality enforcement mechanisms used in transactions with consumers. Specifically we compare governance of supply chains when private brand assures quality to chains where official certification assures products’ quality for customers. To test our proposition, we conducted a set of 42 case studies in 3 agro-food sectors (processed meat, cheese, fruits and vegetable) from 7 European countries. We found that supply chain governance is closer to hierarchy-like modes of organization in cases where reputational capital is the main quality assurance device, whereas market-like governance is more prevalent in cases with public certification.     

The Distributive Impact of Reforms in Credit Enforcement: Evidence From Indian Debt Recovery Tribunals

It is generally presumed that stronger legal enforcement of lender rights increases credit access for all borrowers because it expands the set of incentive compatible loan contracts. This result relies on an assumption that the supply of credit is infinitely elastic. In contrast, with inelastic supply, stronger enforcement generates general equilibrium effects that may reduce credit access for small borrowers and expand it for wealthy borrowers. In a firm‐level panel, we find evidence that an Indian judicial reform that increased banks' ability to recover nonperforming loans had such an adverse distributive impact.     

法律环境对银行不良贷款回收的影响机制研究

不良贷款回收是商业银行服务实体经济、提高资产质量的重要环节。部分企业由于法律意识薄弱,违约后受到的惩罚力度低,故意逃废债,加剧了不良贷款的风险累积。可见地区法律环境在不良贷款的回收中起着重要作用。本文基于某全国性商业银行的企业不良贷款回收数据,运用中介效应检验模型,研究了法律环境对不良贷款回收的影响机制和路径。结果发现,法律环境对不良贷款的回收有显著正向影响。对规模较大的企业,法律保护的作用显著;对规模较小的企业,法律执行的作用显著。法律保护通过贷前约束机制作用于回收率,抵押和担保的中介路径效应显著;法律执行通过贷后监管机制作用于回收率,失信被执行人的中介路径效应显著。银行在业务中要考虑地区法律环境制定相应的贷款审批和回收要求,政府需要从法律保护和法律执行两方面营造更好的法律环境,从而提高不良贷款回收率。     

Functional Assessment and Intervention for Organizational Behavior Change: Improving the Timeliness of Staff Meetings at a Human Services Organization

We implemented functional behavioral assessment (FBA) at a human services organization to reduce the tardiness of scheduled staff meetings. Following baseline, FBA focused on antecedent and consequence conditions that affected staff arriving on time to scheduled meetings. These data were subsequently presented at a staff meeting in which staff planned an intervention to improve the timeliness of meetings. The intervention, composed of premeeting reminders, positive reinforcement for arriving on time, and meeting termination criteria (to facilitate meeting-to-meeting transitions), was implemented in a multiple baseline design across 3 types of meetings. As a result of the intervention, the number of minutes late that meetings started decreased. We discuss FBA within organizational behavior management that targets performance improvement objectives.     

Science-Based Trade Disputes: A New Challenge in Harmonizing the Evidentiary Systems of Law and Science

In November 2001, the University of Michigan hosted one of the first dialogues among international trade law scholars and scientists in the field of risk assessment with the goal of identifying critical areas of misunderstanding between the two fields. This article discusses key issues that need to be addressed in order to better harmonize the scientific and legal systems of evidence within the context of trade disputes and trade law and presents the recommendations that emerged from the Michigan meeting.     

An Evaluation of Stimulus Preference Assessment Methodology in Organizational Behavior Management

The organizational behavior management literature has yielded few stimulus preference assessment methodologies for use with employees. The current investigation compared three preference assessments (ranking, survey, and multiple stimulus without replacement procedures) found in the organizational behavior management literature for their ability to predict reinforcers for direct care staff members’ behavior. In the first experiment all assessments were effective for predicting reinforcers, but the results were limited by a lack of control items in the assessment. In the second experiment the survey and ranking assessments both proved to be effective for identifying reinforcers and neutral or ineffective stimuli. Implications of these results and directions for future research are discussed.     

基于实物期权的企业兼并行为分析

利用实物期权博弈论等理论和方法,研究信息完全条件下有负债企业兼并的均衡价格和最优时机.通过对随机市场下企业兼并的动机、过程的微观机理的深入剖析,对影响兼并定价的主要因素进行分析,分别给出随机市场下有负债的"好企业"增资扩股的均衡条件和最优时机的解析式,以及对"一般企业"和"差企业"兼并的最优时机和均衡价格的解析式,并进行比较静态分析和数值模拟.研究结论与经验相符.     

On the versatility of Little’s Law in operations management: a review and classification using vignettes

Abstract

Despite Little’s Law being considered as one of the ‘laws’ of operations management, evidence of its application in an empirical context is diverse and diffuse. Hence, this paper aims to identify, classify and consolidate published empirical applications of Little’s Law in a systematic manner to better understand its versatility. This paper undertakes a systematic literature review of the databases of the five main publishers of operations management journals and snowball sampling for additional papers. A final sample of 128 empirical journal articles is identified and categorized. Tactical, medium-term decisions relating to capacity dynamics and operations re-engineering are the most popular categories. To give further insights into versatility, vignettes for each category are developed. The review and vignettes confirm Little’s Law as a highly relevant paradigm to operations management decisions due to its empirical versatility across levels, sectors and time domains. The paper suggests four factors to underline the empirical versatility of Little’s Law in operations management: applicability, utility, simplicity and visibility.     

Quantitative analyses of misclassification rates in the hazard classification of environmental chemicals: Evaluation of procedures for deriving predicted no-effect concentrations in the Chemical Substance Control Law in Japan

The quality of chemical management depends more or less on practical procedures used to assess chemicals. This study quantitatively assessed the efficacy of a derivation procedure for calculating no-effect concentrations for screening assessment of environmental hazards under the Chemical Substance Control Law in Japan. We first evaluated the derivation procedure by applying a series of test ecotoxicity datasets to the procedure and calculating the resulting misclassification rates of the hazardous class of chemicals. In this study, a chemical was deemed to have been misclassified if its classification differed from its classification based on the full dataset (chronic toxicity data for three trophic levels), which was defined as the correct assignment. We also calculated the effects of additional uncertainty factors to decrease the variance (i.e., to improve the consistency) of the misclassification rates among cases with different data availability in the derivation procedure. The results showed that the derivation procedure resulted in very high rates of misclassification when only particular sets of ecotoxicity data were available (e.g., only chronic toxicity data of algae were available). Our analyses also showed that the use of additional uncertainty factors improved the consistency of the misclassification rates within the derivation procedure. Our study presents a broadly applicable calculation framework for quantifying error rates in assessment procedures and serves as a case study for future development and reforms of chemical assessment processes and policies, while additional analyses using more extensive ecotoxicity data with various modes of actions are needed in the future.     

Mitigating the Impact of Functional Dominance in Cross‐Functional Process Improvement Teams

Manufacturing process improvement teams often draw upon cross‐functional expertise. However, teams dominated by a single or few functions often do not achieve the desired interdisciplinary learning and cooperation, which in turn could negatively affect the performance of that cross‐functional team. Through an empirical analysis of 149 manufacturing process improvement teams in six SIC industrial categories, we show that even after controlling for several factors such as team size, number of functions, gender diversity, ethnicity, number of management levels, and geographic dispersion of team members, psychological safety of work environment fully mediates the relationship between functional dominance and team performance. We also confirm that a team leader possessing high interpersonal justice mitigates the deficiency of dominated teams and improves team performance by fostering a psychologically safe work environment. Our recommendation therefore is that when a dominated team is unavoidable due to the needed skill sets or other organizational considerations, to ensure success it is imperative that the firm chooses a team leader who can promote psychological safety by being just, and who can effectively encourage input from all functional team members and give them objective feedback.     

基于网络结构-要素行为-创新绩效视角的国家创新体系国际化水平评价

将国家创新体系分解成科学研究网络、技术开发网络和技术扩散网络,从网络结构-要素行为-创新绩效的视角,选择具有代表性并且能够获取完整序列数据的指标构建国家创新体系国际化程度评价指标体系,利用主成分分析法确定指标权重,根据中国国家创新体系国际化的发展趋势以及参照美国国家创新体系国际化的相关指标值确定各指标的标准值。进而对中国进行了实证测算,2001~2010年间,中国国家创新体系国际化程度指数从14.7%提高到49%,其中高新技术产品进出口额比例、外资企业科技经费比例等指标的迅速增加是中国国家创新体系国际化程度快速提升的主要因素。由此,提出了提高中国国家创新体系国际化程度的策略在于高效的、紧密的、国际化的产学研协同创新。     

Quantitative Risk Assessment of Norovirus Transmission in Food Establishments: Evaluating the Impact of Intervention Strategies and Food Employee Behavior on the Risk Associated with Norovirus in Foods

We developed a quantitative risk assessment model using a discrete event framework to quantify and study the risk associated with norovirus transmission to consumers through food contaminated by infected food employees in a retail food setting. This study focused on the impact of ill food workers experiencing symptoms of diarrhea and vomiting and potential control measures for the transmission of norovirus to foods. The model examined the behavior of food employees regarding exclusion from work while ill and after symptom resolution and preventive measures limiting food contamination during preparation. The mean numbers of infected customers estimated for 21 scenarios were compared to the estimate for a baseline scenario representing current practices. Results show that prevention strategies examined could not prevent norovirus transmission to food when a symptomatic employee was present in the food establishment. Compliance with exclusion from work of symptomatic food employees is thus critical, with an estimated range of 75–226% of the baseline mean for full to no compliance, respectively. Results also suggest that efficient handwashing, handwashing frequency associated with gloving compliance, and elimination of contact between hands, faucets, and door handles in restrooms reduced the mean number of infected customers to 58%, 62%, and 75% of the baseline, respectively. This study provides quantitative data to evaluate the relative efficacy of policy and practices at retail to reduce norovirus illnesses and provides new insights into the interactions and interplay of prevention strategies and compliance in reducing transmission of foodborne norovirus.     

Multi‐Case Review of the Application of the Precautionary Principle in European Union Law and Case Law

The precautionary principle was formulated to provide a basis for political action to protect the environment from potentially severe or irreversible harm in circumstances of scientific uncertainty that prevent a full risk or cost‐benefit analysis. It underpins environmental law in the European Union and has been extended to include public health and consumer safety. The aim of this study was to examine how the precautionary principle has been interpreted and subsequently applied in practice, whether these applications were consistent, and whether they followed the guidance from the Commission. A review of the literature was used to develop a framework for analysis, based on three attributes: severity of potential harm, standard of evidence (or degree of uncertainty), and nature of the regulatory action. This was used to examine 15 pieces of legislation or judicial decisions. The decision whether or not to apply the precautionary principle appears to be poorly defined, with ambiguities inherent in determining what level of uncertainty and significance of hazard justifies invoking it. The cases reviewed suggest that the Commission's guidance was not followed consistently in forming legislation, although judicial decisions tended to be more consistent and to follow the guidance by requiring plausible evidence of potential hazard in order to invoke precaution.     

Comparative Human Health Impact Assessment of Engineered Nanomaterials in the Framework of Life Cycle Assessment

For safe innovation, knowledge on potential human health impacts is essential. Ideally, these impacts are considered within a larger life‐cycle‐based context to support sustainable development of new applications and products. A methodological framework that accounts for human health impacts caused by inhalation of engineered nanomaterials (ENMs) in an indoor air environment has been previously developed. The objectives of this study are as follows: (i) evaluate the feasibility of applying the CF framework for NP exposure in the workplace based on currently available data; and (ii) supplement any resulting knowledge gaps with methods and data from the li fe c ycle a pproach and human r isk a ssessment (LICARA) project to develop a modified case‐specific version of the framework that will enable near‐term inclusion of NP human health impacts in life cycle assessment (LCA) using a case study involving nanoscale titanium dioxide (nanoTiO₂). The intent is to enhance typical LCA with elements of regulatory risk assessment, including its more detailed measure of uncertainty. The proof‐of‐principle demonstration of the framework highlighted the lack of available data for both the workplace emissions and human health effects of ENMs that is needed to calculate generalizable characterization factors using common human health impact assessment practices in LCA. The alternative approach of using intake fractions derived from workplace air concentration measurements and effect factors based on best‐available toxicity data supported the current case‐by‐case approach for assessing the human health life cycle impacts of ENMs. Ultimately, the proposed framework and calculations demonstrate the potential utility of integrating elements of risk assessment with LCA for ENMs once the data are available.     

A Protocol for the Global Sensitivity Analysis of Impact Assessment Models in Life Cycle Assessment

The life cycle assessment (LCA) framework has established itself as the leading tool for the assessment of the environmental impact of products. Several works have established the need of integrating the LCA and risk analysis methodologies, due to the several common aspects. One of the ways to reach such integration is through guaranteeing that uncertainties in LCA modeling are carefully treated. It has been claimed that more attention should be paid to quantifying the uncertainties present in the various phases of LCA. Though the topic has been attracting increasing attention of practitioners and experts in LCA, there is still a lack of understanding and a limited use of the available statistical tools. In this work, we introduce a protocol to conduct global sensitivity analysis in LCA. The article focuses on the life cycle impact assessment (LCIA), and particularly on the relevance of global techniques for the development of trustable impact assessment models. We use a novel characterization model developed for the quantification of the impacts of noise on humans as a test case. We show that global SA is fundamental to guarantee that the modeler has a complete understanding of: (i) the structure of the model and (ii) the importance of uncertain model inputs and the interaction among them.     

Tolerable or Acceptable: A Comparison of Risk Regulation in the United Kingdom and in the Netherlands

In managing major accident hazards in industry risk, both the United Kingdom and the Netherlands use quantitative risk analysis and quantified risk criteria. These should be understood in the historical, legal, and political context in which they were drawn up. Even when criteria are numerically the same they do not necessarily mean the same thing. The legal and historical context differs widely between the two countries. Nevertheless, it is surprising that the final results in terms of land use and levels of risk are very similar.     

Context in the Risk Assessment of Digital Systems

As the use of digital computers for instrumentation and control of safety-critical systems has increased, there has been a growing debate over the issue of whether probabilistic risk assessment techniques can be applied to these systems. This debate has centered on the issue of whether software failures can be modeled probabilistically. This paper describes a context-based approach to software risk assessment that explicitly recognizes the fact that the behavior of software is not probabilistic. The source of the perceived uncertainty in its behavior results from both the input to the software as well as the application and environment in which the software is operating. Failures occur as the result of encountering some context for which the software was not properly designed, as opposed to the software simply failing randomly. The paper elaborates on the concept of error-forcing context as it applies to software. It also illustrates a methodology which utilizes event trees, fault trees, and the Dynamic Flowgraph Methodology (DFM) to identify error-forcing contexts for software in the form of fault tree prime implicants.