This study empirically examines the association between certain director characteristics and the extent of voluntary audit committee disclosure in annual reports. Results suggest that Singapore's publicly traded firms are more likely to voluntarily disclose audit committee related information as: the number of board members increases; different individuals occupy the roles of CEO and board chairperson; and the proportion of independent directors serving on the board increases. Findings, however, fail to show any association between the amount of voluntary audit committee disclosure (...) and the percentage of executive directors' ownership. Documented findings are of interest and benefit to various parties including regulators, corporate governance reformists, and corporate management. For instance, findings imply that a positive by-product of implementing major corporate governance reforms currently championed by corporate governance reformists will be an increase in audit committee disclosures. As a result, there will be less pressure on regulators to develop, introduce, and enforce mandatory audit committee disclosures that may be potentially intrusive to a firm's management. (shrink)

In this paper, we investigate the link between audit committees and earnings management providing a more comprehensive simultaneous analysis of the influence of audit committee features using a sample of 485 firm-years from Singapore's publicly traded firms during the 2000 2001 calendar period. Empirical findings indicate firms with a higher proportion of independent audit committee members are more effective at constraining earnings management. Firms with audit committees that are more diligent and/or lack the presence of independent directors serving simultaneously on (...) a substantial number of boards and committees are more effective at constraining earnings management. These findings are robust to alternative income-incentives facing corporate management. Overall, our findings have implications for stakeholders, regulators, and corporate governance. For example, our findings infer policymakers may need to focus on other audit committee characteristics to strengthen the committee's ability to constrain earnings management rather than continue the present fixation with independence. (shrink)

Hanlester Network v. Shalala ) marks the first test of the application of the Medicare-Medicaid anti-kickback statute to physician self-referral joint ventures. The most recent development in this ongoing litigation was the April 6, 1995 decision of the Ninth Circuit Court of Appeals, holding the Hanlester Network vicariously liable for its marketing vice president's knowing and willful violation of the antikickback statute. The vice president had offered to pay physician-investors in order to induce their referrals of program-related business.The Hanlester Network (...) was a California general partnership comprised of corporations, clinical laboratories, and individual investors. In April 1987, it entered into a management agreement on behalf of the clinical laboratories with SmithKline BioScience Laboratories. (shrink)

This volume is intended for use in an undergraduate philosophy course employing the problems' approach. Chapter I provides a clear presentation of Cartesian rationalism. Following the exposition of Descartes' position, there is a section on the standard criticisms levelled by B. Russell. Aune defends the rationalist position with an outline of the traditional arguments for the validity of intuitive knowledge. Chapter I terminates with a list of "Study Questions" and an annotated bibliography suggesting further readings. Chapter II considers classical English (...) empiricism, taking the thought of Hume as paradigmatic. There is a discussion of a priori and a posteriori knowledge as well as a section on the problems of induction and solipsism. Chapter III outlines the attempts of contemporary empiricists to eschew Hume's skepticism by envisioning the world as a construct of our sensory experiences. To avoid the solipsism still implicit in the latter position, a re-evaluation of Hume's theory of perception is offered. Wittgenstein and Strawson are briefly treated in this section. Chapter IV explains the pragmatist's attempt to reduce to the same untenable position the rationalist and empiricist views of the a priori. Chapter V concentrates on the pragmatic theory of justification and includes a treatment of N. Goodman's "new riddle of induction." Aune's book is a readable account of conflicting theories of knowledge and undergraduates should find it of value.--W. J. L. (shrink)

In the preface to this work, Thayer explains that his purpose is to present "the classic writings of pragmatism" defined as "the original and formative expressions of this philosophy articulated by its most eminent spokesmen." The selections are from Peirce, James, and Dewey as well as brief readings from Mead and C. I. Lewis. Each selection is accompanied by a brief introduction. In addition to these selectional introductions, there is also a two-part general introduction. The first part is a short (...) historical piece by Thayer situating pragmatism in the context of western thought. The second part is a 1931 article by Dewey outlining the development of pragmatism in Peirce and James. These informative introductions should be of value to the philosophical novice who finds himself in many anthologies afloat on the sea of primary sources without the aid of the historical context necessary to fix his position. The individual selections have been carefully chosen and well coordinated. Insofar as they cluster about the central theme of the epistemological nature of pragmatism, they avoid the pitfall of attempting to elucidate the entire philosophy of many thinkers in one volume. The Peirce section includes in addition to the usual articles, "The Fixation of Belief" and "How to Make Our Ideas Clear," selections from Peirce's later writings including the 1905 article, "What Pragmatism Is" in which he differentiates his pragmatism from that of James. The section on James incorporates important sections from The Principles of Psychology together with the famous essay "The Will to Believe" and two lectures on the pragmatic concept of meaning and truth from Pragmatism. The Dewey selection provides a judicious collection of his writings from the 1896 article on the "Reflex Arc Concept" advocating the integration of organism and action to the general analysis of intelligent action in his 1938 book, Logic: The Theory of Inquiry. Also included is a chapter from The Quest for Certainty describing the application of pragmatic method to the realm of moral value. The contents of this volume are rounded out with a piece by Mead on social consciousness and the social self and an article by C. I. Lewis on the pragmatic conception of the a priori. Thayer has produced an excellent anthology of pragmatic philosophy well suited to any course in classical American philosophy emphasizing an epistemological approach.--W. J. L. (shrink)

This volume is intended for use in an undergraduate philosophy course employing the problems' approach. Chapter I provides a clear presentation of Cartesian rationalism. Following the exposition of Descartes' position, there is a section on the standard criticisms levelled by B. Russell. Aune defends the rationalist position with an outline of the traditional arguments for the validity of intuitive knowledge. Chapter I terminates with a list of "Study Questions" and an annotated bibliography suggesting further readings. Chapter II considers classical English (...) empiricism, taking the thought of Hume as paradigmatic. There is a discussion of a priori and a posteriori knowledge as well as a section on the problems of induction and solipsism. Chapter III outlines the attempts of contemporary empiricists to eschew Hume's skepticism by envisioning the world as a construct of our sensory experiences. To avoid the solipsism still implicit in the latter position, a re-evaluation of Hume's theory of perception is offered. Wittgenstein and Strawson are briefly treated in this section. Chapter IV explains the pragmatist's attempt to reduce to the same untenable position the rationalist and empiricist views of the a priori. Chapter V concentrates on the pragmatic theory of justification and includes a treatment of N. Goodman's "new riddle of induction." Aune's book is a readable account of conflicting theories of knowledge and undergraduates should find it of value.--W. J. L. (shrink)

No one who cares about equal opportunity can derive much comfort from the present occupational distribution of working women. In the various industrial societies of the West, women comprise between one quarter and one-half of the national labor force. However, they tend to clustered in employment sectors – especially clerical, sales, and service J occupations – which rank relatively low in remuneration, status, autonomy, and other perquisites. Meanwhile, the more prestigious and rewarding managerial and professional positions, as well as the (...) major categories of blue-collar labor, remain largely a male preserve. In the same societies the average income earned by full-time female workers is one-half to two- J thirds that of their male counterparts. Although this disparity owes much to i other factors, including lower pay for work similar or even identical to that r standardly done by men, much of it can be explained only by the concentration of working women in traditional female job ghettos. (shrink)

The paper studies the impact of informational ambiguity on behalf of informed traders on history-dependent price behaviour in a model of sequential trading in financial markets. Following Chateauneuf et al., we use neo-additive capacities to model ambiguity. Such ambiguity and attitudes to it can engender herd and contrarian behaviour, and also cause the market to break down. The latter, herd and contrarian behaviour, can be reduced by the existence of a bid-ask spread.

This paper traces the origins of the concept of personalisation in public sector services, and applies it to school education. The original conceptualisation stressed the need for 'deep' rather than shallow, personalisation, if radical transformation of services were to be achieved. It is argued that as the concept has been disseminated and implemented through policy documents, notably the 2005 White Paper, it has lost its original emphasis on deep personalisation. The focus in this article is particularly upon gifted and talented (...) students whose education provides the best case example of how the theory of personalisation might work in practice. Two examples of the lessons in a sixth form college are used to illustrate the character ofpersonalised pedagogy in practice. The implications for theory and practice are discussed. (shrink)