In the Chinese stock market, special treatment (ST) firms are the firms listed as facing imminent danger of delisting, unless they return to profitability after reporting two consecutive annual losses. Some ST firms voluntarily pay substantial fees to their external auditors to conduct interim audits, which are not required by regulations. In this study, we investigate and find that ST firms that pay for voluntary interim audits report greater discretionary accrued earnings, higher non-operating earnings, and higher returns on assets in (...) ensuing annual reports. As a result, these firms are more likely to return to profitability and reduce their delisting risk. Our results, which contribute to the current debate on auditor independence, appear to be consistent with the possibility that ST firms “buy” external auditors’ cooperation to manipulate earnings when faced with the threat of delisting. (shrink)

Jannie Pretorius and Michael Von Maltitz have identified some of the most pressing problems in South African education.1 They have argued that the education system is still suffering from the fragmented effects of apartheid and that the postapartheid government is struggling to set schools in motion to provide learners with authentic perspectives on the realities of their existence in a postapartheid South Africa. Naledi Pandor, the country's previous minister of education, painted a rather somber picture of the situation in the (...) Eastern Cape, one of South Africa's nine provinces:In a context in which there is ineffective system response on core obligations, it is very important to isolate those attributes that are .. (shrink)

Monetary intelligence theory asserts that individuals apply their money attitude to frame critical concerns in the context and strategically select certain options to achieve financial goals and ultimate happiness. This study explores the dark side of monetary Intelligence and behavioral economics—dishonesty. Dishonesty, a risky prospect, involves cost–benefit analysis of self-interest. We frame good or bad barrels in the environmental context as a proxy of high or low probability of getting caught for dishonesty, respectively. We theorize: The magnitude and intensity of (...) the relationship between love of money and dishonest prospect may reveal how individuals frame dishonesty in the context of two levels of subjective norm—perceived corporate ethical values at the micro-level and Corruption Perceptions Index at the macro-level, collected from multiple sources. Based on 6382 managers in 31 geopolitical entities across six continents, our cross-level three-way interaction effect illustrates: As expected, managers in good barrels, mixed barrels, and bad barrels display low, medium, and high magnitude of dishonesty, respectively. With high CEV, the intensity is the same across cultures. With low CEV, the intensity of dishonesty is the highest in high CPI entities —the Enron Effect, but the lowest in low CPI entities. CPI has a strong impact on the magnitude of dishonesty, whereas CEV has a strong impact on the intensity of dishonesty. We demonstrate dishonesty in light of monetary values and two frames of social norm, revealing critical implications to the field of behavioral economics and business ethics. (shrink)

At the beginning of his Isagoge, Porphyry establishes a famous set of questions concerning genera and species, which is the origin of the medieval “Quarrel of universals”. But this text gave rise to difficulty for interpreters: does Porphyry, when elaborating this set of questions, refer to historical positions or does he offer these alternatives in a lingua franca, which would be neutral from a doctrinal point of view? This article focusing on the first of the three alternatives raised by Porphyry (...) aims to show that replacing Porphyry's text in its historical and philosophical background can shed light on the meaning of this alternative. During the Post-Hellenistic period (100 B.C.–200 A.D.), the different schools discussed the ontological status of universals. Therefore, not only does Porphyry use the terminology shaped by former philosophers, but he also alludes to the debate between Stoics, Middle Platonists and Peripatetics. Alexander of Aphrodisias constitutes a precious help to reconstruct this dispute, which this article tries to depict. (shrink)

Corruption involves greed, money, and risky decision-making. We explore the love of money, pay satisfaction, probability of risk, and dishonesty across cultures. Avaricious monetary aspiration breeds unethicality. Prospect theory frames decisions in the gains-losses domain and high-low probability. Pay dissatisfaction (in the losses domain) incites dishonesty in the name of justice at the individual level. The Corruption Perceptions Index, CPI, signals a high-low probability of getting caught for dishonesty at the country level. We theorize that decision-makers adopt avaricious love-of-money aspiration (...) as a lens and frame dishonesty in the gains-losses domain (pay satisfaction-dissatisfaction, Level 1) and high-low probability (CPI, Level 2) to maximize expected utility and ultimate serenity. We challenge the myth: Pay satisfaction mitigates dishonesty across nations consistently. Based on 6500 managers in 32 countries, our cross-level three-dimensional visualization offers the following discoveries. Under high aspiration conditions, pay dissatisfaction excites the highest- (third-highest) avaricious justice-seeking dishonesty in high (medium) CPI nations, supporting the certainty effect. However, pay satisfaction provokes the second-highest avaricious opportunity-seizing dishonesty in low CPI entities, sustaining the possibility effect—maximizing expected utility. Under low aspiration conditions, high pay satisfaction consistently leads to low dishonesty, demonstrating risk aversion—achieving ultimate serenity. We expand prospect theory from a micro and individual-level theory to a cross-level theory of monetary wisdom across 32 nations. We enhance the S-shaped Curve to three 3-D corruption surfaces across three levels of the global economic pyramid, providing novel insights into behavioral economics, business ethics, the environment, and responsibility. (shrink)

Dans ce volume considérable, on été réunies les contributions d'un Congrès international tenu à Louvain en 1998 pour marquer l'achèvement de la première édition de la Théologie Platonicienne de Proclus. Ces contributions, toutes rigoureusement centrées sur la Théol. Plat. concernent (1) les principes et les sources de la Théol. plat. (2) Les méthodes théologiques de Proclus (3) La postérité de la Théol. plat. dans le monde grec, païen comme chrétien, et dans le monde islamique. Des indices très détaillés permettent de (...) retrouver tous les passages cités et commentés dans ce volume. (shrink)

Les trente dernières années du XX e siècle ont été marquées par une très forte inflation des règles du droit du travail visant à protéger l’emploi. Ces règles encadrent notamment le licenciement et tentent d’endiguer le recours aux contrats précaires. Mais on s’aperçoit aujourd’hui qu’il n’existe pas de rapport mécanique entre les objectifs poursuivis (protéger l’emploi), leur traduction législative et les résultats produits qui sont décevants. Prenant acte de son impuissance le législateur entend désormais changer de paradigme en concentrant ses (...) efforts sur la protection des transitions professionnelles. Toutefois les lois les plus récentes qui s’inscrivent dans cette perspective connaissent de nombreux déboires, et pour l’instant il ne semble pas évident que la prospection sur ces nouvelles terres donne plus de résultats que ceux obtenus sur les anciennes. (shrink)