Nonfinancial Risk Disclosure and the Costs of Private Ordering

In 2016 the Securities and Exchange Commission (SEC) considered for the first time whether financial disclosure reform should address information on sustainability matters and other sources of nonfinancial risk. The resulting debate over these issues raised fundamental questions about how well the federal disclosure regime addresses emerging risks and about how well private ordering, through shareholder engagement, the work of private standard‐setters, and corporate voluntary disclosure, can fill the gaps. This article argues that the current model of nonfinancial risk disclosure, based largely on private ordering, is ineffective and undermines the SEC's mission to protect investors, facilitate capital formation, and promote fair, orderly, and efficient markets. This conclusion rests on evidence that the current state of sustainability disclosure is inadequate for investment analysis and that these deficiencies are largely problems of comparability and quality that cannot readily be addressed by private ordering. This article also highlights the costs of agency inaction to investors and to public companies, which have been largely ignored in the debate over the future of financial reporting. It concludes by proposing avenues for disclosure reform.     

Management education: A case for women's studies?

At a recent weekend seminar-workshop convened by the Personal Development Division of the Anglian Regional Management Centre, Essex. U.K., British pioneers, practitioners and academics with experience of management training for women conferred on the state of the art and laid plans for further developments. In this article Virginia Novarra, Visiting Fellow at the Centre with special reference to women's training needs, sets the debate in the context of the women's studies movement.     

Late adolescents' perceptions of their relationships with their parents: Relationships among deidealization,autonomy, relatedness,and insecurity and implications for adolescent adjustment and ego identity status

Questionnaire data from 376 undergraduates (mean age=19.3 years) were used to test a model describing interrelationships among deidealization, relatedness, autonomy, and insecurity in late adolescents' relationships with their parents. As expected, deidealization predicted greater autonomy and less relatedness (i.e., more disengagement), greater disengagement predicted greater insecurity, and greater insecurity predicted less autonomy. However, disengagement from parents proved to be a double-edged sword in that it was linked not only to insecurity, but also to feelings of greater separateness and self-directedness in relation, to parents. Additional analyses identified significant associations between the adolescent/parent relationship variables and the adolescents' psychological health and ego identity status.Received her Ph.D. from Yale University. Major interests are in parent/child relationships during late adolescence and young adulthood.Received her B.A. from University of Virginia and M.A. from Michigan State University. Major interests are in adolescent development and pediatric psychology.Received her B.A. from Duke University and M.A. from Michigan State University. Major interests are in adult children of alcoholics and adolescent separation/individuation.     

Parental problem-solving skills and child behavior problems: A comparison of physically abusive,neglectful, clinic,and community families

Failure to solve problems related to parenting and other aspects of daily living is hypothesized to result in frustration or inability to cope, and lead to deviant parental behavior such as aggression or neglect. The present investigation provided support for a procedure for measuring parental problem-solving skill and compared the problem-solving abilities and child behavior problems of maltreating and nonmaltreating parents. Subjects were 40 parents with at least one child between the ages of three and twelve. Subjects were assigned to one of four groups: (a) physically abusive parents (n = 9); (b) neglectful parents (n = 9); (c) nonmaltreating clinic parents seeking help for child behavior problems (n = 11); and (d) nonmaltreating, non-help-seeking community parents (n = 11). Abusive and neglectful parents were deficient in problem-solving skill as compared to clinic and community parents, yet there were many similarities in parental reports of child behavior problems for maltreating and nonmaltreating parents. Parental problem-solving skill did not correlate significantly with parental ratings of child behavior problems.     

The Moral Minority: Evangelical Protestants in Northern Ireland and Their Political Behaviour

It has long been asserted that strong evangelical religious beliefs underpin strong unionist and loyalist political attitudes in Northern Ireland. Although recent literature has argued for a wide diversity of political attitudes amongst evangelicals, this has not been quantified. Based on analysis of the 1991 Northern Irish Social Attitudes Survey and the 1998 Northern Ireland Life and Times Survey, this article argues that evangelicals are attitudinally different to other Protestants in Northern Ireland. However, their distinctiveness arises from their conservative moral attitudes and not, as widely claimed, from stronger unionist political values. Indeed, in terms of party identification, in 1991 evangelicals were less likely than other Protestants to support the Democratic Unionist Party (DUP). And although there has been a small shift towards the DUP over the course of the 1990s, it is not due to any strengthening of the unionism of evangelicals, but rather the increasing importance of moral conservatism in predicting voters' party choice in Northern Ireland.