Corporate responsibility reporting in the UK and Japan

There is an increasing concern for the environment and society in today’s world. Stakeholders call for corporations to take responsibility for the impact that their organisational activities have on the environment and society by publicly disclosing such impacts and how they are being managed. Thus, the practice of corporate responsibility reporting (hereafter CRR) has been established. Unlike the provision of financial information in an annual report, CRR tends to be a voluntary reporting practice. As firms have the choice to provide CRR, logical economic thinking says that they will only do so if they derive some benefit from it. Therefore, the objective of this study is to investigate whether CRR is associated with firms’ market values in order to assess whether CRR provides incremental value relevant information to investors

Oil company annual report disclosure responses to the 2010 Gulf of Mexico oil spill

This paper analyses the annual report disclosures of the other six largest oil companies in reaction to the 2010 Gulf of Mexico oil spill. It focusses on changes in disclosures that can be ascribed to the oil spill. The companies all increased their environmental disclosures, with positive disclosures increasing most. It shows the use of an image enhancement disclosure strategy and a (partial) disclaiming of responsibility disclosure strategy, but do not find evidence consistent with a deflection of attention disclosure strategy, probably due to the high profile of the incident. It is found that BP’s strategy of repeating disclosures about remedial activities several times in different parts of the annual report ensures: an emphasis on the positive, that all stakeholders regardless of their area of focus are likely to notice this disclosure, an increase in the volume of environmental disclosure, and that less detail can be disclosed, reducing litigation-related risks

Do companies reduce CSR disclosures during recessions?

Purpose: We investigate trends in prevalence and volume of CSR disclosure by the top 50 New Zealand listed companies from 2005 to 2010, i.e. from before until after the initial impact of the global financial crisis (GFC). Design/methodology/approach: We examine the annual reports of each of the companies between the years 2005 and 2010, as well as company websites for standalone CSR reports. We count the number of pages of any social and environmental disclosures in annual reports and in standalone reports for each year and use this data to assess whether overall trends can be discerned. We compare CSR disclosure trends with changes in business confidence. Findings: Our results reveal a general upward trend in CSR disclosures over the six-year period. The number of companies disclosing in their annual reports and standalone reports increased from 2005 to 2007. However, during the initial drop in business confidence in 2008 (brought on by the GFC), CSR disclosures in annual reports and standalone reports remained consistent overall with 2007. Companies operating within industries more prone to public scrutiny or those industries more sensitive to the social and environmental impacts of corporate operations actually increased their CSR disclosures, whereas other companies decreased their disclosure for an overall constant level. The upward trend resumed in 2009, but when business confidence again suffered in 2010, overall annual report CSR disclosures decreased, whereas overall standalone report disclosure continued the upward trend. In sum, during times of reduced business confidence, companies in non-environmentally-sensitive and non-socially-sensitive industries appear to buck the overall trend towards increased CSR disclosures. Originality: Many studies conclude that there is an upward trend in CSR disclosures over time. Other studies examine the impact of particular events on disclosure. However, we are not aware of any study that examines the impact of the initial phase of the GFC on the overall upward trend in CSR disclosures, i.e. whether companies subjugate CSR in favour of more pressing business priorities during times of reduced business confidence

Polycystic Disease of the Kidneys with special reference to its Clinical features, Radiological diagnosis and Genetic Nature

This work on polycystic disease of the kidney commenced while the author was engaged in general practice in Swellendam, in the South Western Cape from 1953-1956. Within a period of a year three patients, suffering from this disease, were seen. They were questioned about their family-relationship but they denied any such association. It was regarded as highly unlikely that three patients with a relatively rare disease, should be found in a population existing between those patients. The genealogy of each patient was worked out and when this information was bought together, it was found that they were fairly closely related. This was the first experience that the information obtained from a patient about his family may not be reliable, not even in a small, fairly closed community. As the family become known to the author the members were systematically investigated for polycystic kidney disease and an attempt was made to determine how many individuals were affected and i how many generations

The impact of the 2010 Soccer World Cup on Bidvest Rental and Products.

MBA University of KwaZulu-Natal, Durban 2012.The South African government and by extension the South African taxpayer spent in excess of R17 billion in building and renovating new and existing stadia and an additional R117 billion on infrastructural development in preparation for the FIFA 2010 Soccer World Cup (Sunday Times, June 2010). A number of authors have questioned whether the anticipated benefits of hosting mega sporting events like the Soccer World Cup justify the associated expense, claiming that these events have little or no significant direct nor indirect impact on the economy of the host nation (Vogel, 2002; Crompton and Lee, 2000). Matheson and Baade (2004) added that hosting mega sporting events is an even worse investment for developing nations. As far back as 2007 the initial euphoria surrounding South Africa being awarded the rights to host the World Cup had begun to quietly subside and make room for more sober reflection around the economic implications of hosting the event (Pillay and Bass, 2008). At a micro economic level, South Korean residents believed that the anticipated economic benefits of the 2002 Soccer World Cup were either less than expected or, in some instances, did not materialise at all, (Kim, Gursoy and Lee, 2004). In line with the contention by Brenke and Wagner (2007) that the Soccer World Cup is too small an event to significantly influence a national economy, this study sought to examine the economic impact of the 2010 Soccer World Cup on Bidvest Rental and Products, a large national company operating within the services industry in South Africa. This study used a descriptive quantitative design. Potential respondents were taken from senior management at Bidvest Rental and Products. Data was collected using the survey method in the form of a questionnaire emailed to respondents. The findings of the study supported the widely held assertion by researchers on the economic impact of mega sporting events namely, the anticipated significant revenue gains did not materialise and the little employment that was generated was overwhelmingly of a temporary nature

Development of a 3-D-printable device for continuous measuring of heavy metal ion concentrations

Three-dimensional (3-D) printing offers the potential to create a range of tailored devices within many different industrial facilities. In this article, devices were designed and fabricated using 3-D printing to house electrodes for the testing of heavy metal concentration in hazardous fluids, particularly for biological samples such as urine or blood. The devices, connected to a syringe pump, were shown to be able to be operated without leaking. Proof of concept experiments were performed using Anodic Stripping Voltammetry (ASV) methods, demonstrating that the devices are able to be used for quick, cheap testing, showing the potential of the technique as a more hygienic analysis technique than conventional ASV with an immediacy that standard techniques such as inductively coupled plasma mass spectrometry (ICP-MS) do not offer. With further development and validation, 3-D-printed ASV techniques may provide a robust, reliable and affordable solution for heavy metal concentration detection in remote locations

Die Britse vloot aan die Kaap, 1795-1803

Op 1 Mei 1967 kon die Suid-Afrikaanse vloot sy een-en- twintigste verjaardag vier. Bloedjonk dus, as weermagsdeel; maar eweneens belangrik as integrale deel van ons land se Weermag en as tydelike tuiste jaarliks van honderde dienspligtige jong Suid-Afrikaners. 'n Honderd twee-en-sewentig jaar tevore - op 11 Junie 1795 - het 'n eskader van die Britse vloot sy verskyning in Simonsbaai gemaak. Dit was die begin van 'n vlootverbintenis tussen Brittanje en die latere Suid-Afrika wat, met 'n onderbreking van net drie jaar (1803-6), tot 1957 besonder heg sou wees, en wat selfs sedert die oorname van Simonstad nog steeds bly voortbestaan danksy die sg. Simonstad-ooreenkoms. In hierdie verhandeling word die eerste agt jaar van die Britse vloot se verblyf aan die Kaap - die beginjare van hierdie "verbintenis" - van naderby beskou

Disputed interpretations and active strategies of resistance during an audit regulatory debate

Purpose: The paper aims to examine disputed interpretations of “key meanings” between the audit regulator and Big 4 firms during a highly contentious regulatory debate, showcasing their use of “strategies of resistance” to achieve their intended outcomes. Design/methodology/approach: A qualitative analysis is performed of the discourse in a South African audit regulatory debate, set within the country\u27s unique political and historical context. The analysis is informed by the theoretical construct of a “regulatory space” and an established typology of strategic responses to institutional pressures. Findings: The study’s findings show how resistance to regulatory intentions from influential actors, notably the Big 4 firms, was dispelled. This was achieved by the regulator securing oversight independence, co-opting political support, shortening the debate timeline and unilaterally revising the interpretation of its statutory mandate. The regulator successfully incorporated race equality into its interpretation of how the public interest is advanced (in addition to audit quality). The social legitimacy of the Big 4 was then further undermined. The debate was highly contentious and unproductive and likely contributed to overall societal concerns regarding the legitimacy of, and the value ascribed to, the audit function. Practical implications: A deeper appreciation of vested interests and differing interpretations of key concepts and regulatory logic could help to promote a less combative regulatory environment, in the interest of enhanced audit quality and the sustainability and legitimacy of the audit profession. Originality/value: The context provides an example, contrary to that observed in many jurisdictions, where the Big 4 fail to actively resist or even dilute significant regulatory reform. Furthermore, the findings indicate that traditional conceptions of what it means to serve “the public interest” may be evolving in favour of a more liberal social democratic interpretation

Determinants, mechanisms and consequences of corporate governance reporting : a research framework

Corporate governance disclosures form a key part of a company’s non-financial reporting. Several studies consider the determinants of corporate governance reporting, including external factors such as country-specific legislation and scandals, and internal factors such as financial performance, size and culture. Others consider the consequences of corporate governance reporting, using simple proxies for corporate governance mechanisms such as board composition characteristics to analyse the impact on financial reporting quality and company valuation. Yet the determinants and consequences of corporate governance reporting may be interlinked, and many quantitative studies fail to consider these links and their multiple effects adequately. Poor financial performance, for example, can be both a determinant and a consequence of the underlying governance mechanisms that corporate governance reporting aims to capture. The framework provided in this paper considers both the determinants and consequences of corporate governance and likely links between them, and also considers internal corporate governance mechanisms and the measures that are used as their proxies. In combining these three aspects of corporate governance and showing potential links, the framework offers insights into future research opportunities. The framework can be adapted to any country or organisational setting and also offers the opportunity to consider theories other than agency theory when studying corporate governance disclosures.http://link.springer.com/journal/109972021-09-03hj2020Accountin