Failure of auditors: The lack of compliance for business combinations in China

This empirical study investigates the compliance of 344 Chinese listed companies with the Accounting Standard for Enterprises No. 20‐Business Combination, a mandatory reporting standard applicable to companies involved in business combinations. China has recently reformed its auditing sector, enabling private firms to provide auditing services. The results of the study show a low level of compliance by Chinese listed companies. While companies audited by Chinese domestic auditors have significantly lower compliance than companies audited by Big Four auditors on supplementary disclosure that is mandatory under the Chinese accounting standards, compliance remains low even after companies receive unqualified reports from these international auditors. There appears to be a lack of commitment, and possibly expertise, among Big Four auditors, in fully applying the reporting requirements of the business combination standard in a Chinese setting. This raises concerns about the independence of Chinese auditing in disclosing reliable information about business combinations. Broader theoretical contributions of the paper go beyond the Chinese context by problematizing whether well‐resourced international auditors uphold internationally expected standards or succumb to local non‐compliant practices.     

Duverger's Law, Penrose's Power Index and the Unity of the UK

As predicted by Duverger's Law, the UK has had two-party competition for long periods in most electoral districts. However, there are different patterns of two-party competition in different districts and more than two effective parties in the Commons. Since 1874, parliament has always contained parties wishing to modify the Union and contesting seats only outside England. By calculating the Penrose power index for all parties in the House of Commons for all general elections since 1874, we identify when such parties were pivotal. We explain various legislative changes (for example the Crofters Act 1886, the first three Irish Home Rule Bills, the Parliament Act 1911) and non-changes (for example the failure to enact female suffrage before 1914) by reference to the Penrose index scores. The scores also explain how and why policy towards Scotland, Wales and Northern Ireland changed and did not change in the 1970s.     

Land grab/data grab: precision agriculture and its new horizons

ABSTRACT

Developments in the area of ‘precision agriculture’ are creating new data points (about flows, soils, pests, climate) that agricultural technology providers ‘grab’, aggregate, compute and/or sell. Food producers now churn out food and, increasingly, data. ‘Land grabs’ on the horizon in the global south are bound up with the dynamics of data grabbing, although hitherto researchers have not revealed enough about the people and projects at issue. Against this backdrop, this paper examines some key issues taking shape, while highlighting new frontiers for research and introducing the concept ‘data sovereignty’, which food sovereignty practitioners (and others) need to begin considering.     

‘Tied to the kitchen sink’? Women's Lives and Women's History in Mid-Twentieth Century Britain and Australia

In the decades after World War Two, women in Britain and Australia lived with—and sometimes against—a compelling expectation about women's role: they should marry and devote their lives to suburban domesticity and childcare. This article considers how the life stories of four women—born in Britain between 1928–38, and living in Australia from the 1950s to the 1970s—can illuminate and complicate our understanding of the experience of the postwar suburban dream. It shows how women sometimes articulated imaginative responses to limiting circumstances and thus stretched the boundaries of possibility.     

A Count Data Model of Technology Adoption

This paper investigates the main determinants of the adoption of flexible production technologies (FPTs), using a plant-level dataset of Portuguese manufacturing industry. Besides using a new dataset, this paper extends the framework of previous studies on technology adoption by taking into account the effect of demand uncertainty as an additional determinant of adoption. In order to examine this relationship, several econometric models for count data are estimated. These models deal with the discrete nature of the dependent variable and firm specific unobservable characteristics arising from the cross-section context. The main findings of the paper are: (i) rank effects and technological regimes are important determinants of technology adoption, as put forward in previous models of technology diffusion; (ii) demand uncertainty has a significant positive impact on the likelihood of adopting FPTs, which suggests that technological heterogeneity is important when modelling firms' investment decisions; (iii) the estimates were improved after controlling for excess zeros and overdispersion that characterizes our data.     

NORTHERN TERRITORY

As a consequence of the constitutional development which has occurred in the Northern Territory since 1976, a veritable administrative revolution has taken place. The devolution of State-type functions from Commonwealth to local control and the legal establishment of a Northern Territory government on 1 July 1978 necessitated fundamental changes to the administrative structure. However, the pace and scale of change, so dramatic a feature of the period between 1977 and 1979, were much less pronounced in 1980 which was a year of relative stability. In political terms, the highlight of 1980 was the Legislative Assembly elections in June which resulted in the return of the Country-Liberal Party government. Its continuation in office was an important factor in ensuring a climate for administrative stability.     

The role of valuation and bargaining in optimising transboundary watercourse treaty regimes

In the face of water scarcity, growing water demands, population increase, ecosystem degradation, or climate change, transboundary watercourse states inevitably have to make difficult decisions on how finite quantities of water are distributed. Such waters, and their associated ecosystem services, offer multiple benefits. Valuation and bargaining can play a key role in the sharing of these ecosystems services and their associated benefits across sovereign borders. Ecosystem services in transboundary watercourses essentially constitute a portfolio of assets. While challenging, their commodification, which creates property rights, supports trading. Such trading offers a means by which to resolve conflicts over competing uses and allows states to optimise their ‘portfolios’. However, despite this potential, adoption of appropriate treaty frameworks that might facilitate a market-based approach to the discovery and allocation of water-related ecosystem services at the transboundary level remains both a challenge and a topic worthy of further study. Drawing upon concepts in law and economics, this paper therefore seeks to advance the study of how treaty frameworks might be developed in a way that supports such a market-based approach to ecosystem services and transboundary waters.     

Still not in Force: Should States Support the 1997 UN Watercourses Convention?

On 21 May 1997, at the UN General Assembly, an overwhelming majority of States voted for the adoption of the United Nations Convention on the Law of the Non-Navigational Uses of International Watercourses – a global overarching framework governing the rights and duties of States sharing freshwater systems. To date, the Convention counts 17 Contracting States – 18 short of the number required for entry into force. This article examines whether and why States should support the Convention towards ensuring its entry into force. We first look at the governance of international watercourses in order to illustrate the relevance of the Convention. The article also examines the Convention's drafting and negotiation process, the subsequent practice of States, some possible reasons slowing down ratifications and the likelihood of entry into force in the foreseeable future. Noting the widespread State support for the Convention in 1997, we conclude that, while various reasons have possibly prevented that support from translating into entry into force, the need for an effective UN Watercourses Convention has not diminished. In view of current human and environmental threats to the world's water resources, coupled with the poor governance of transboundary watersheds, the potential role that the Convention could play, once in force and widely ratified, as discussed, may in fact be more critical than ever.