DO ACCOUNTING AND FINANCE TOOLS SERVE GOVERNANCE?

A brief review of recent literature on corporate governance is provided, which is then concluded with a proposed corporate governance framework as a starting point for further development. We propose that it is stakeholder concentration that determines the quality of corporate governance. Next objective of this paper is the more ambitious one of addressing the role of accounting and finance disciplines to serve corporate governance. We test empirically if the use of some accounting and finance tools would have alerted management, auditors and regulators as well as investors to the impending collapse of failed firms ahead of time. If performance deterioration is not verifiable by using such acclaimed tools of these disciplines, then the advocacy of these disciplines is untenable and their contribution is overstated. Careful application of accounting-cum-finance tools, it appears, would have pre-identified the financial weakening of troubled firms, well ahead of time to catastrophic failures.

On sparse representations of linear operators and the approximation of matrix products

Thus far, sparse representations have been exploited largely in the context of robustly estimating functions in a noisy environment from a few measurements. In this context, the existence of a basis in which the signal class under consideration is sparse is used to decrease the number of necessary measurements while controlling the approximation error. In this paper, we instead focus on applications in numerical analysis, by way of sparse representations of linear operators with the objective of minimizing the number of operations needed to perform basic operations (here, multiplication) on these operators. We represent a linear operator by a sum of rank-one operators, and show how a sparse representation that guarantees a low approximation error for the product can be obtained from analyzing an induced quadratic form. This construction in turn yields new algorithms for computing approximate matrix products.Comment: 6 pages, 3 figures; presented at the 42nd Annual Conference on Information Sciences and Systems (CISS 2008

Employees’ perceptions of human resource management practices and employee outcomes

Purpose – The purpose of this paper is to examine the relationship between employees’ perceptions of HRM practices and two outcomes, namely, employee commitment and turnover intention, in small and medium-sized enterprises (SMEs) in mainland China.Design/methodology/approach – This paper adopts a quantitative approach based on a sample of 227 employees working in 24 SMEs in eastern and western China.Findings – Employees’ perceptions of HRM practices such as training and development, reward management, and performance management, are significant predictors of employee commitment. A negative direct relationship is found between employees’ perceptions about the use of HRM practices and turnover intentions.Research limitations/implications – Although data were collected from two representative provinces of eastern and western China, the size of the sample may limit the generalisability of the findings to the wider region.Practical implications – The relationship between employees’ perceptions of HRM practices and employee outcomes in Chinese SMEs provides an effective way for SME owners and HR practitioners to generate desirable employee attitudes and behaviours, which, ultimately contribute to improving organisational performance.Originality/value – This is an original paper which makes a contribution by helping to address the dearth of studies which have explored aspects of the effectiveness of HRM in SMEs in China. In contrast to the majority of China-focused studies on this topic, it highlights HRM outcomes at the individual level rather than the organisational level. Further, the study involves SMEs in western China which is an under-explored region

Field Release of Virus-Sprayed Adult Parasitoids of the European Pine Sawfly (Hymenoptera: Diprionidae) in Wisconsin

Rapid field release of adult parasitoids sprayed with the nucleopolyhedrosis virus of the European pine sawfly successfully transferred the virus to feeding larval colonies

Professional Development On-line

Continuing Professional Development (CPD) is making increased use of the Web to develop and support communities of professionals. This paper outlines the factors driving the adoption of CPD and highlights areas where the Web can aid in the development of successful professional communities. Current work to provide on-line support for approximately 500 teachers of computing is then presented, highlighting those aspects of the Web site designed to foster and engage participants in the professional development activity

Optical orbital angular momentum

We present a brief introduction to the orbital angular momentum of light, the subject of our theme issue and, in particular, to the developments in the 13 years following the founding paper by Allen et al. (Allen et al. 1992 Phys. Rev. A 45, 8185 (doi:10.1103/PhysRevA.45.8185)). The papers by our invited authors serve to bring the field up to date and suggest where developments may take us next