Income and Happiness across Europe: Do Reference Values Matter?

Using data from the European Social Survey (ESS), we examine the link between income and subjective well-being. We find that, for the whole sample of nineteen European countries, although income is positively correlated with both happiness and life satisfaction, reference income exerts a negative effect on individual well-being, a result consistent with the relative utility hypothesis. Performing separate analyses for some Eastern European countries, we also find some evidence of a ‘tunnel effect’, in that reference income has a positive impact on subjective well-being. Our findings support the view that in environments with stable income and employment, reference income serves as a basis for social comparisons, whereas in relatively volatile environments, it is used as a source of information for forming expectations about future status.comparison income, reference groups, happiness, life satisfaction

Stress testing International Financial Reporting Standards (IFRSs) : Accounting for stability and the public good in a financialized world

This is a pre-copyedited, author-produced PDF of an article accepted for publication in Accounting, Economics and Law - a Convivium following peer review. The version of record [Andersson, T. et al, 6:2 (93-118), first published online November 13, 2015, is available on line at doi: https://doi.org/10.1515/ael-2015-0006The recent Maystads report (2013) challenged the European Parliament to modify governance arrangements surrounding the design and endorsment of International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). In addition the Maystadt report constructs an argument that accounting information has the capacity to also modify behaviour and that this might not be conducive for the European public good, financial stability and economic development. In this paper we argue that IFRS need to be stress tested for their impact on firm-level financial stability in a financialized World. The financialized firm can revalue a range of assets to their market value crystalizing future earning stream into current value but these valuations can become impaired. Asset value impairments will be charged to shareholder equity but this is being hollwed out because a higher proportion of earnings are being distributed to shareholders. Accounting disclosures are not only an information feed to users they inform the stewardship and control of a firm´s resources and in the financialized firm the potential for financial instability is heightend and this can translate into a moral hazard for society.Peer reviewedFinal Accepted Versio

1 Can the Changing Nature of Jobs Account for National Trends in Job Satisfaction?

We investigate whether trends in job satisfaction, which arguably signal trends in worker well-being, can be explained by changes in the quality of jobs. There were falls in job satisfaction in both Britain and Germany. Elsewhere job satisfaction has been either stable or declining very slowly. In many countries, the series of data on job satisfaction is too short to be confident that any secular trend has taken place. We estimate fixed effects models of the determinants of job satisfaction, in order to attempt to account statistically for trends in job satisfaction in Britain and in Germany. We find that: The intensification of work effort and declining task discretion account for the fall in job satisfaction in Britain. The modest rise in participation in organisational decision-making only mitigated the downward pressure on job satisfaction to a small extent. Contrary to what might be expected from popular commentary, changing job insecurity does not explain the fall in job satisfaction in either country. In Germany there was a modest fall in the proportion of people working the number of hours that they wanted to. However, while working too few or too many hours is a significant source of job dissatisfaction, the changes were too small to have made much of an impact on job satisfaction in Germany. In Britain, the increasing proportions of over-educated workers have had a small downward impact on job satisfaction

Financialization : Stress testing the adoption of Fair Value Accounting (FVA): Fragility and instability in financialized firms

This is an Accepted Manuscript of a book chapter published by Routledge in Robin Roslender ed., The Routledge Companion to Critical Accounting, on September 2017, available online at: https://www.routledge.com/The-Routledge-Companion-to-Critical-Accounting/Roslender/p/book/9781138025257. Under embargo until 21 March 2019.Peer reviewe

University education and entrepreneurial intentions of European students: insights into the Theory of Planned Behaviour complemented by skills

Despite its ever-growing volume, research on entrepreneurial intentions remains largely confined within the context of entrepreneurial education and training. To enhance our understanding of the construct within broader layers of context, we evaluate the role of skills developed during general–not specific to entrepreneurship–university education. Employing a large sample of 2553 observations from various universities and fields of specialisation, in four European countries, we explore learners’ entrepreneurial intentions, conditional upon the assertions of the Theory of Planned Behaviour (TPB) with the added dimension of skills. Our hypotheses are tested via a Structural Equation Modelling (SEM) analysis which enables effective identification of similarities and differences across diverse contexts. Our findings reaffirm the significance of attitudes, social norms, and behavioural control, as statistically significant predictors of learners’ motivation to engage in entrepreneurial activities. This contributes to the unifying power of TPB through testing its in-breadth predictive power. Moreover, the role of skills is highlighted as the main construct affecting university student’s intentions to engage in entrepreneurial activities

Accounting for business models : Increasing the visability of stakeholders

This paper conceptualises a firm’s business model employing stakeholder theory as a central organising element to help inform the purpose and objective(s) of business model financial reporting and disclosure. Firms interact with a complex network of primary and secondary stakeholders to secure the value proposition of a firm’s business model. This value proposition is itself a complex amalgam of value creating, value capturing and value manipulating arrangements with stakeholders. From a financial accounting perspective the purpose of the value proposition for a firm’s business model is to sustain liquidity and solvency as a going concern. This paper argues that stakeholder relations impact upon the financial viability of a firm’s business model value proposition. However current financial reporting by function of expenses and the central organising objectives of the accounting conceptual framework conceal firm-stakeholder relations and their impact on reported financials. The practical implication of our paper is that ‘Business Model’ financial reporting would require a reorientation in the accounting conceptual framework that defines the objectives and purpose of financial reporting. This reorientation would involve reporting about stakeholder relations and their impact on firms financials not simply reporting financial information to ‘investors’.Peer reviewe

Evaluating the digital divide : the Silver Surfer's perspective

Original article can be found at: http://www.metapress.com/ Copyright Inderscience Enterprises LtdThe aim of this paper is to explore and ascertain using an information systems perspective evaluation framework, the factors encouraging the adoption and usage of online products and services, namely, in this case, broadband, within one particular population group – the silver surfer. As advances in government policies for the older population and the health care system are occurring, the population is ageing. To identify and explain the impacts of broadband on older adults, this research study was commissioned. Data was collected through e-mail, interviews and an online survey within OECD and non-OECD countries. The findings of this study illustrate that technical factors were not of primary importance. Non-technical factors were considered to be fundamental and clearly need to be taken into consideration when encouraging silver surfers to be come online interactive. What was also discovered is that interest, whether in technological or non-technological factors as well as communication are very pertinent in adopting and using technology. This research should offer a substantial contribution to various stakeholders including government agencies, management consulting firms, Internet Service Providers and IT organizations that may want to identify what drives the online interactions of silver surfers. This will also assist government agencies to understand the problem of low adoption and formulate a strategy to promote awareness and diffusion. The contribution to theory that this research offers is the development of an evaluative framework that has a household perspective and emphasises the silver surfers. Further, the framework should be applicable to both OECD and non-OECD countries provided the administered survey instrument is in the indigenous language and there is immense awareness to the questionnaire.Peer reviewe