Contracting capability: A distillation of co-operative principles from business history to guide present day restructuring

The article re-examines the present day restructuring of large-scale enterprise in the West from a new perspective derived from business history, ttansaction cost economics, and game theory. Creating inter-organizational networks and modifying intra-finn arrangements to give human capital more scope of exercising autonomous judgement involves formulating co-operative contracts. The idea of "contracting capability" is developed to show how economic actors in the past established presence in an incipient bargaining flow, forged bonds of trust with other parties, and designed contracts that could accommodate sequential modification. By exercising strong leadership and communicating skills, they forged an initial agreement that became a foundation for sustaining a long-term, multiple-period relationship. Knowledge of history can help today's business leaders to identify the principles of contracting and to develop guidelines for evoking and preserving co-operative conduc

The Nickel Syndicate, 1901-1939

In 1901, several British armament firms formed the Steel Manufacturers' Nickel Syndicate Ltd. to exert combined purchasing power against La Societe de Nickel, then the world's only major supplier of nickel. Although membership in the Syndicate changed over time, new sources of demand for nickel arose, and additional suppliers emerged, the Syndicate operated successfully until World War II. Conventional economics and organisational theory predict that this type of co-operative arrangement is necessarily doomed to dissolution. To explain why the Syndicate endured for nearly forty years in the face of significant shifts in demand and supply we need to examine relations within the Syndicate and between the Syndicate and its suppliers in contractual terms. In the case of the former relationship, underlying communication channels gave the Syndicate a strong bargaining position, but by making judicious use of this power, the organisation was able to elicit ongoing co-operation from its suppliers. Within the Syndicate, members derived significant financial advantages from association. We can measure these benefits and show how the Syndicate conducted its activities to ensure that these gains were not absorbed by operating expenses

Income Rank and Upward Comparisons

Many studies have argued that relative income predicts individual well-being. More recently, it has been suggested that the relative rank of an individual’s income, rather than how that income compares to a mean or reference income, is important. Here the relative rank hypothesis is examined along with the additional hypothesis that individuals compare their incomes predominantly with those of slightly higher earners. A study of over 12,000 British adults using the British Household Panel Survey (a) confirms the importance of rank and (b) finds evidence that individuals compare upwards and to those most similar. This paper appears to be the first to show in fixed effect well-being equations that the influence of rank is more important than the influence of relative pay.Rank ; social comparison ; life satisfaction ; relative income ; BHPS

Conflict of interest in policing and the public sector

Conflicts of interest are a key factor in the contemporary decline of trust in government and public institutions, eroding public trust in government and democratic systems. Drawing on two unique empirical studies involving policing and the broader public sector, this paper explores the meaning and dimensions of conflict of interest by examining public complaints about conflict of interest and providing distinctive insights into the nature of conflict of interest as a problem for public sector ethics. The paper analyses and explores appropriate regulatory and management approaches for conflict of interest, focusing on three elements: (1) dealing with private interests that are identifiably problematic in the way they clash with the duties of public officials; (2) managing conflicts as they arise in the course of public sector work (manifested in preferential and adverse treatment, and other problematic areas); and (3) developing ethical and accountable organisational cultures. It is concluded that effective and meaningful public sector ethics in the pursuit of the public interest must be based on an ethos of social accountability and a commitment to prioritise the public interest in both fact and appearance. <br /

Money and happiness : rank of income, not income, affects life satisfaction

Does money buy happiness, or does happiness come indirectly from the higher rank in society that money brings? Here we test a rank hypothesis, according to which people gain utility from the ranked position of their income within a comparison group. The rank hypothesis contrasts with traditional reference income hypotheses, which suggest utility from income depends on comparison to a social group reference norm. We find that the ranked position of an individual’s income predicts general life satisfaction, while absolute income and reference income have no effect. Furthermore, individuals weight upward comparisons more than downward comparisons. According to the rank hypothesis, income and utility are not directly linked: Increasing an individual’s income will only increase their utility if ranked position also increases and will necessarily reduce the utility of others who will lose rank

Integrating sociological concepts into the study of accounting : yielding the benefits of team teaching

In response to recent criticisms of business and accounting education, a team of educators introduced a new course in social and critical perspectives on accounting. The course sought to integrate sociological concepts into the study of accounting, with key themes of social construction and social power forming a core of the course. The express intention was to raise student awareness of the nature and functions of accounting in contemporary society. The core teaching strategy involved team teaching, which was used to enhance learning and develop higher order generic skills. Feedback from two diverse cohorts of students vindicated the approach undertaken and reinforced the importance of linking teaching and research in accounting programs. Change in accounting education can be directed towards regaining and rebuilding social relevance for a discipline too often associated with a narrow economic imperative rather than the broader public interest.<br /

Expanding the horizons of accounting education : incorporating social and critical perspectives

This paper examines a case of accounting education change in the context of increased interest in ethical, social, and environmental accountability, presenting a reflexive case study of a new university accounting subject incorporating social and critical perspectives. Foundational pedagogical principles and key aspects of curriculum are outlined. The pedagogy draws on the integration of humanistic and formative education (principally based on Gramscian and Freirean approaches) and deep and elaborative learning. Two key aspects of curriculum and pedagogy are analysed. First, a curriculum based on a broad conception of accounting and accountability as power-laden social processes, drawing on a range of research literature. Second, the adoption of an authentic, supportive, and collegial team teaching approach. Students&rsquo; feedback relating to identified issues is presented. The paper contributes to the renewal of the social and ethical worth of accounting education, concluding that deep accounting educational change encompasses both the content and practice of classroom activity and changes in the self-consciousness of staff and students.<br /