Religion,governance and performance: evidence from Islamic and conventional stock exchanges

Based on a dataset of 31 conventional and Islamic stock exchanges we compare financial performance across these two groups for 2007–2011 period. Our results suggest that CEs and IEs are differently exposed to institutional constraints and have different drivers of profitability. Islamic stock exchanges’ performances are essentially driven by traditional listing and trading services and are affected by institutional factors such as the degree of foreign trading openness of their economies and measures of society development. Furthermore, they ensure greater stability during crisis, although Shari’ah compliant investments don’t affect their revenue generation. Conventional stock exchanges have higher trading intensity, higher level of revenues’ diversification and high capital investments, as they operate with different business models. Our results could have relevant business and strategic implications for further convergence between the two groups. Moreover our analysis could be significant for firms wishing to list their shares into Shari’ah Compliant Stock Exchanges or into Conventional ones and traders choosing the most convenient trading venue.     

Does business model affect accounting choices? An empirical analysis of European listed companies

Financial accounting research increasingly includes business model (BM) constructs, but the ability of financial reporting to capture BM characteristics has not been verified. This study empirically explores the links between BMs and accounting choices by clustering a sample of 103 European listed companies according to an innovative, nonlinear algorithm (self-organizing map) that uses pertinent industrial, strategic, governance, and financial variables to uncover different dimensions of a BM. The authors investigate accounting choices (accounting measurement, accounting treatment, and disclosure level) by companies that belong to the different identified BMs. The analysis of the relations between different company BMs and their accounting choices indicates no significant connections, which offers empirical confirmation of the criticisms regarding the inability of financial reporting to represent (or even consider) a company’s BM. The results suggest further attempt to capture BM in financial reporting, which requires regulators to establish accounting standards that acknowledge the value creation processes of an entity and incentivize managers to represent those processes.     

Using simulation to manage project supply chain in the offshore oil and gas industry

This paper is aimed at comparing simulation against spreadsheets as decision support tools to properly manage project supply chain in the offshore oil and gas industry. The paper presents a case study related to the problem of sizing a chain for pipeline laying from an offshore field in the Barents sea to the Russian coast. Results obtained through a spreadsheet developed by an oil and gas company have been compared to the ones gathered from an ad hoc simulation model. A simulation model with no stochastic variable has been introduced: results are quite similar to the ones of the spreadsheet, which allowed to validate the simulation model. However, the spreadsheet cannot take into account the continuous move of the pipe-lay vessel while laying the pipes and it does not consider stochastic variables whose effect in real life is not negligible. Both weaknesses above are discussed.     

Impacts of collaboration and network indicators on patent quality: The case of Canadian nanotechnology innovation

This article studies the impact of collaboration and co-inventorship network characteristics of Canadian nanotechnology inventors on the quality of their inventions. We investigate the impact of four types of variables on patent quality, using the number of claims as a proxy for quality: (a) the presence of highly central inventors; (b) the presence of star inventors; (c) repeated collaboration; (d) international collaboration. We show that the presence of more central inventors and of stars in the research team has a positive influence on patent quality, while repeated collaboration has a negative impact. Patents owned by foreign organisations, controlling for whether assignees are firm, yields patents of higher quality.     

Beyond polyphony: Open Dialogue in a Women’s Shelter in Australia as a possibility for supporting violence‐informed practice

Open Dialogue is a family/social network‐centered psychotherapeutic approach to responding to people in crisis and distress. In 2017, Open Dialogue network meetings were implemented in an Australian inner‐city shelter for disadvantaged women. The aim of this study was to explore the experience of participating in these meetings from the perspective of service users and Open Dialogue practitioners. Qualitative interviews were completed with thirteen participants (six service users and seven practitioners) and analyzed thematically. The findings suggested that dialogical processes created safety by attending to multiple voices in nonviolent ways that reduced perceived hierarchies. Notions of expertise were renegotiated, which allowed the women to feel heard in significant ways that were different from their previous experiences with other social and healthcare services. Open Dialogue is an approach that can meaningfully attend to some of the power relations within which women live and within which social and health care services are provided.     

Cluster detection and clustering with random start forward searches

The forward search is a method of robust data analysis in which outlier free subsets of the data of increasing size are used in model fitting; the data are then ordered by closeness to the model. Here the forward search, with many random starts, is used to cluster multivariate data. These random starts lead to the diagnostic identification of tentative clusters. Application of the forward search to the proposed individual clusters leads to the establishment of cluster membership through the identification of non-cluster members as outlying. The method requires no prior information on the number of clusters and does not seek to classify all observations. These properties are illustrated by the analysis of 200 six-dimensional observations on Swiss banknotes. The importance of linked plots and brushing in elucidating data structures is illustrated. We also provide an automatic method for determining cluster centres and compare the behaviour of our method with model-based clustering. In a simulated example with eight clusters our method provides more stable and accurate solutions than model-based clustering. We consider the computational requirements of both procedures.     

Using Audio Computer-Assisted Self-Interviewing and Interactive Voice Response to Measure Elder Mistreatment in Older Adults: Feasibility and Effects on Prevalence Estimates

Demographic trends indicate an aging population, highlighting the importance of collecting valid survey data from older adults. One potential issue when surveying older adults is use of technology to collect data on sensitive topics. Survey technologies like A-CASI and IVR have not been used with older adults to measure elder mistreatment. We surveyed 903 adults age 60 and older in Allegheny County, Pennsylvania (U.S.) with random assignment to one of four survey modes: (1) CAPI, (2) A-CASI, (3) CATI; and (4) IVR. We assessed financial, psychological, and physical mistreatment, and examined feasibility of A-CASI and IVR, and effects on prevalence estimates relative to CAPI and CATI. Approximately 83% of elders randomized to A-CASI/IVR used each technology, although 28% of respondents in the A-CASI condition refused to use headphones and read the questions instead. A-CASI produced higher six month prevalence rates of financial and psychological mistreatment than CAPI. IVR produced higher six month prevalence rates of psychological mistreatment than CATI. We conclude that, while IVR may be useful, A-CASI offers a more promising approach to the measurement of elder mistreatment.     

Eliminating the omitted variable bias by a regime-switching approach

This work shows a procedure that aims to eliminate or reduce the bias caused by omitted variables by means of the so-called regime-switching regressions. There is a bias estimation whenever the statistical (linear) model is under-specified, that is, when there are some omitted variables and they are correlated with the regressors. This work shows how an appropriate specification of a regime-switching model (independent or Markov-switching) can eliminate or reduce this correlation, hence the estimation bias. A demonstration is given, together with some Monte Carlo simulations. An empirical verification, based on Fisher's equation, is also provided.