The accounting literature has traditionally focused on firm-level studies to examine the capital market implications of earnings and other accounting variables. We first develop…
Abstract
The accounting literature has traditionally focused on firm-level studies to examine the capital market implications of earnings and other accounting variables. We first develop the arguments for studying capital market implications at the aggregate level as well. A central issue is that diversification makes equity investors at least partially and potentially almost completely immune to several firm-level properties of earnings by holding diversified portfolios. Diversification is particularly important when assessing the welfare consequences of random errors in accounting measurement (imperfect accruals) and, to the extent it is independent across firms, of deliberate manipulation (earnings management). Consequently, some firm-level metrics of association, timeliness, value relevance, conservatism and other earnings properties do not map easily into investor welfare. Similarly, earnings-related risk manifests itself to equity investors largely through systematic earnings risk (covariation with aggregate earnings and/or other macroeconomic indicators). We conclude that the design and evaluation of financial reporting must adopt at least in part an aggregate perspective. We then summarize the literature in accounting, economics and finance on aggregate earnings and stock prices. Our review highlights the importance of studying earnings at the aggregate level.
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Marvin Erfurth and Natasha Ridge
This chapter offers a contemporary overview of philanthropy in education as an emerging research field. Although the education sector has traditionally been a popular recipient of…
Abstract
This chapter offers a contemporary overview of philanthropy in education as an emerging research field. Although the education sector has traditionally been a popular recipient of philanthropic investment, the scale and scope of funding and policy involvement on the part of philanthropy are growing. In addition, and potentially amplified by COVID-19, big- and in particular tech-philanthropies are emerging as increasingly influential players in national, regional, and global educational contexts. This chapter describes how most existing education research on philanthropy is mainly US- and higher education-focused which has resulted in a narrow geographic and thematic scope whereby contemporary developments remain either overlooked or under-researched. It discusses venture philanthropy inside and outside of the United States, a greater diversity of geographic perspectives, and an increasing dependence of academia on philanthropic funding as emerging research areas that bear great potential to being explored further.
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Minda Morren López and Lori Czop Assaf
In this qualitative study, we explore 31 preservice teachers’ generative trajectories including how they built on instructional practices learned in the service-learning project…
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In this qualitative study, we explore 31 preservice teachers’ generative trajectories including how they built on instructional practices learned in the service-learning project, the university methods course, and the field-based experience. We addressed the question: In what ways does participating in a semester-long field-based university course combined with a service-learning program shape preservice teachers’ views about effective literacy practices for emergent bilinguals? We identified four themes in our analysis: importance of choice in literacy pedagogy; learning from and with our students; freedom to apply course methods and ideas; and growing confidence and align them with Ball’s (2009) generative change model and the four processes of change – metacognitive awareness, ideological becoming, internalization, and efficacy.
We found the preservice teachers’ ability to develop an awareness of diversity grew from their work with students both in their field-block experience and writing club. These opportunities provided them with a layering of learning – from course readings, collaborating with teachers, to problem solving and creating lessons that specifically met their students’ needs. By moving in and out of different contexts, preservice teachers developed generative knowledge about ways to support writing for emergent bilinguals. Likewise, they became keenly aware of their own experiences and beliefs. Implications include the importance of providing a variety of opportunities for preservice teachers to work directly with students. This should be accompanied by written and verbal discussions to examine and critique their experiences and ideologies in relation to students’ language and literacy needs.
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Biju Prasad B., Biju N. and Radhakrishna Panicker M.R.
The purpose of this paper is to design an electromechanical actuator which can inherently tolerate a stuck or loose failure without any need for fault detection isolation and…
Abstract
Purpose
The purpose of this paper is to design an electromechanical actuator which can inherently tolerate a stuck or loose failure without any need for fault detection isolation and reconfiguration.
Design/methodology/approach
Generalized design methodology for a thrust vector control application is adopted to reduce the design iterations during the initial stages of the design. An optimum ball screw pitch is selected to minimize the motor sizing and maximize the load acceleration.
Findings
A high redundancy electromechanical actuator for thrust vector control has lower self-inertia and higher reliability than a direct drive simplex configuration. This configuration is a feasible solution for thrust vector control application because it offers a more acceptable and graceful degradation than a complete failure.
Research limitations/implications
Future work will include testing on actual hardware to study the transient disturbances caused by a fault and their effect on launch vehicle dynamics.
Practical implications
High redundancy electromechanical actuator concept can be extended to similar applications such as solid motor nozzle in satellite launch vehicles and primary flight control system in aircraft.
Social implications
High redundancy actuators can be useful in safety critical applications involving human beings. It can also reduce the machine downtime in industrial process automation.
Originality/value
The jam tolerant electromechanical actuator proposed for the launch vehicle application has a unique configuration which does not require a complex fault detection isolation and reconfiguration logic in the controller. This enhances the system reliability and allows a simplex controller having a lower cost.
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This chapter conceptualises inclusion and neoliberalism and theorises the relationship between these two phenomena in order to contextualise the debates presented in the rest of…
Abstract
This chapter conceptualises inclusion and neoliberalism and theorises the relationship between these two phenomena in order to contextualise the debates presented in the rest of the chapters in this book. Additionally, this chapter investigates the evolution of the meaning of ‘inclusion’ in the key international Bologna Process (BP) policy documents. This chapter is informed by a thematic analysis of 26 documents, issued between 1998 and 2020. The chapter demonstrates that understanding ‘inclusion’ only with regard to lifelong learning, student-centred education and the social dimension has pitfalls – there are overlaps between these action lines and, consequently, the relationships among them are unclear. A better way of understanding inclusion in Bologna may be through considering a tight relationship between the inclusion and neoliberal discourses in the support of marginalised groups in higher education (HE). The relationship has been evolving in relevant policy documents since 1998 which is the year that marks the preparatory Sorbonne meeting that gave life to Bologna in 1999. The inclusion discourse grew in strengths, while the neoliberal rhetoric firmly stood its ground since the beginning of the BP, while undergoing some transformations. In spite of such seemingly positive dynamic in the development of inclusion in the BP, its definition remained vague in the policy documents until 2020 as it was unclear which exact underprivileged groups were meant to be supported in the European Higher Education Area (EHEA). The 2020 conference outcome documents made a significant step towards closing the gaps in our understanding of whom inclusion targets in Bologna and how to implement these inclusion ideas. The chapter highlights this achievement and also prepares the reader to problematise its reach in national contexts later in the book.
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The purpose of this paper is to model the property development process from an actor–network theory perspective. The model aims to address the relationship between structure and…
Abstract
Purpose
The purpose of this paper is to model the property development process from an actor–network theory perspective. The model aims to address the relationship between structure and agency to combine the social and the economic aspects of the property development process.
Design/methodology/approach
An inductive methodology was appropriate for this study. Consequently, 12 semi-structured interviews have been carried out with professionals involved in the property development process in central London.
Findings
Analysis of the interview transcripts revealed that throughout the development process a developer creates a core actor–network and enrols those required for production. Economic, cultural, legal and political structures influence actions throughout the development process and therefore have the ability to cause disruption. As a result, sub-networks are created to overcome challenges throughout the development process, such as obtaining planning consent. This allows the interests of actors to be aligned or re-aligned so that solutions can be punctualised into the core actor–network. Additionally, structures are affected by actions throughout the property development process.
Practical implications
It is recommended that developers measure the extent to which the interests of actors are successfully aligned and re-aligned throughout a developments life cycle, in addition to a developments financial success. The findings are paramount for policymakers and regulators, as it allows them to understand the intricate workings of the development process and so when they regulate or develop policy, they will understand how it will reverberate through the process and recalibrate it, thereby limiting unforeseen consequences.
Originality/value
This research has proven valuable given it advances the property development process literature by examining the property development process from an actor–network theory perspective and provides areas for further study.
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Betty Birkenmeier, Paul Phillips Carson and Kerry D. Carson
The cornerstones of servant leadership theory (service, trust, credibility, and vision) were used to analyze how one of the most outstanding leaders of the twentieth century, Jean…
Abstract
The cornerstones of servant leadership theory (service, trust, credibility, and vision) were used to analyze how one of the most outstanding leaders of the twentieth century, Jean Monnet, used his skills to solve difficult problems of regional and global dimensions. Many believe that this Frenchman possessed unusually astute leadership skills in guiding individuals and governments during critical times. His contributions during World Wars I and II were notable, but he is best remembered for his conception and instigation of the European Union. Known as the "Father of Europe," he became one of the most influential figures of the postwar era. Focusing on economic cooperation among European nations, he effectively used a quiet, behind the scenes approach, to advance his objectives.
This paper aims to focus on the local government accountants’ perspective towards their current and potential role in the sustainability reporting process and to explore potential…
Abstract
Purpose
This paper aims to focus on the local government accountants’ perspective towards their current and potential role in the sustainability reporting process and to explore potential factors influencing the further development of their role.
Design/methodology/approach
A mail survey approach was adopted across local government organisations with a deeper analysis provided through semi-structured interviews.
Findings
Findings indicate that accountants are supportive of involvement in sustainability reporting, but their actual level differs significantly from the level of involvement they believe they should have, pointing to the existence of an execution gap. Potential factors are investigated, highlighting the limited integration of sustainability beyond the organisational level, the lack of understanding of sustainability by accountants and the current need for further up-skilling by accountants.
Research limitations/implications
The study enhances understanding of the accountant’s perception towards sustainability reporting practices within the public sector, with particular focus on local government.
Originality/value
This is an exploratory study examining an area of accounting in local government in which there are few others. It seeks to contribute to the literature by exploring and examining the accountant’s perception towards sustainable development and their current and future prospects in the reporting process in the local government sector in Australia.
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Stephanie van Hover, David Hicks, Elizabeth Washington and Melissa Lisanti
This study examined and traced the relationship between, and the influence of, the official standards documents of the Commonwealth of Virginia, and the related day-to-day lesson…
Abstract
This study examined and traced the relationship between, and the influence of, the official standards documents of the Commonwealth of Virginia, and the related day-to-day lesson planning and implementation of a pair of co-teachers. Using a case study methodology alongside a conventional content analysis we traced the processes of how these policy texts (the Standards of Learning [SOLs] for World History) were connected to and activated within the daily routines of these teachers who taught struggling students in a high-stakes testing context. The findings illustrated how the policy texts and discursive practices emerging from the State’s SOLs constituted a level of pedagogical governance that saw these teachers organize instruction clearly designed to support student recall on the end of year multiple choice test. Our work recognized the power of policy texts as they interact with teachers. The significance of unpacking policy documents in order to examine issues of power, symmetry and potential areas of negotiation in the planning and implementation of instruction for teacher educators is discussed.