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This study investigates audit effectiveness (or the lack thereof) of audit opinions issued by auditors preceding company bankruptcies. Data from all 26 bankrupt UK financial institutions were used to determine if auditor appropriately issued opinions other than unqualified, as signs of non-going concern determine any differences in audit-opinion effectiveness between international and domestic audit firms. Results show that unqualified opinions issued was significantly higher than other opinions prior to bankruptcy. While international audit firms were less likely to issue unqualified opinions than their domestic counterparts no firm issued adverse or disclaimer of opinions in any given year, despite serious warning signals from return on assets (ROA), return on equity (ROE) and current ratios. © 2004 Inderscience Enterprises Ltd.

As we are all well aware, health care expenditures in the United States are out of control and growing at epic proportions. Since private industry shoulders a significant burden of paying these rising health care costs, the huge and ever increasing sum paid by these corporations continues to impact the US economy translating into higher prices of services and manufactured goods and reduced job opportunities when companies outsource jobs or locate manufacturing facilities to avoid paying health care benefits for workers. As a result, health care expenditures have become a centerpiece of an enormous public policy debate as Congress is currently working on several versions of a bill to completely revise health care from the ground up. This research project was accomplished to examine the effectiveness of one approach to control rising health care costs and contain corporate financial responsibility--the establishment of wellness and health risk screening programs to improve the health of employees. Total health care cost per insured individual was gathered through an online survey directly from health care benefit administrators. The survey also asked information about wellness and health risk screening programs and the related responses were used to determine if there were a relationship between health care costs and health prevention programs. While statistical analysis was hampered in the current study because of the small sample size, some valid conclusions were reached. The study was successful in identifying a benchmark of Average Total Health Care Cost per Individual from $5,100 to $5,800 for 2005 through 2007. This is especially interesting in light of the fact that an average of $7,026 was spent on health care per person in 2006 in the United States. The study was also able to contribute an estimate of the increase realized in these expenditures of 6 percent in 2007 over 2006, and 4 percent in 2006 over 2005, which were in fact similar to the national average. The final contribution of the study is to suggest an explanation for the costs which appear to be holding their own in terms of the national average. While this cannot be statistically verified, it does seem that the active participation of these companies in wellness programs could be a factor. Wellness programs were very popular in this sample of companies as 82 percent of the respondents answered "YES" when asked if the company funds their own employee wellness program. This is an impressive number of companies that have recognized wellness programs as a potential means to reduce employee health care costs. In regards to specific programs, at least 50 percent of respondents answered that they have smoking cessation, employee fitness, counseling, health risk screening, and bio-metric screening programs. The existence of health screening variables show an impressive 73 percent of respondents do practice some sort of health care screening, 50 percent offer biometric screening while 18 percent have onsite clinics and 23 percent run annual employee fairs.

The paper empirically investigates the extent to which environmental factors affect the intermediation performance of the financial superstructure in Nigeria. A number of intermediation-environmental models were constructed and estimated against annual Nigerian data from 1970 to 2000. Among the various environments of financial intermediation, the socio-political environment, the regulatory environment, and the eco-financial environment exert very great influences on the operations of the financial superstructure. This is based on the evidence from the results, which revealed the socio-political index, regulatory index, and foreign exchange market variables as the most critical predictors of the financial intermediation-output-related index. Other factors such as inflation, taxation, financial market imperfection, and the growth rate of the economy appear not to exert statistically significant effects on the intermediation operations of the financial superstructure. Generally, the utility of the specified models was satisfied as indicated by the results of the global statistics. © 2004 by The Haworth Press, Inc. All rigths reserved.

This article examines the entry of professional service firms, specifically the Big Six international accounting firms, into emerging foreign markets and explores how they develop and expand their business once established in those markets. The study is based on survey data (supplied by the Big Six) regarding their penetration of the People's Republic of China, the Commonwealth of Independent States, and Central Europe. A conceptual model is employed to illustrate the interrelationship between a firm's specific characteristics, the foreign environment, and foreign subsidiary intrafirm structure. Growth potential, client needs, favorable political/legal climate, and cultural considerations emerged as important factors in determining market entry and growth strategies for professional services firms. The research findings broaden our understanding of factors that influence professional services firms' development of pricing and marketing mix strategies. While all firms surveyed offered a full range of services, their marketing mix strategy differed from domestic approaches because of various local constraints on pricing and promotion. Copyright © 2000 University of Illinois.

This paper examines the entry of the Big Six international accounting firms, into emerging foreign markets and explores marketing resource considerations once established in those markets. The study is based on survey data (supplied by the Big Six) regarding their penetration of the People's Republic of China, the Commonwealth of Independent States, and Central Europe. The paper presents a marketing resource-based model based upon relevant research. The model focuses on firm specific resource capabilities interacting with the foreign business environment and the foreign intrafirm structure as a determinant of foreign market entry choice and eventual market expansion. The research findings broaden our understanding of factors that influence professional services firms' development of marketing resource strategies when expanding globally. While all firms surveyed offered a full range of services, their marketing resource strategy differed from domestic approaches because of various local constraints on marketing mix elements. © 2003 Taylor & Francis Group, LLC.

This paper is an empirical extension aimed at investigating the relationships between the indicators of the financial superstructure and its intermediation environments; and especially how the former responds to the effects of the latter. Intermediation-environmental models patterned after multivariate regression, causality, and partial adjustment models of both linear and log-linear formulations were estimated and analyzed. The results reveal that three environments: socio-political, regulatory, and international finance-exerted significant effects on the intermediation function of the superstructure. Previous intermediation successes ginger up current performance. In the long run, the effects of the environmental factors on the intermediation function of the superstructure, in whatever direction, more than quadruples. In any given year, the Nigerian financial superstructure attains only about 21.9% of desired (optimal) FIR. Given this, it would take about 4-1/2 years for it to adjust its intermediation operations (FIR), in light of the effects of environmental factors, to optimal levels in order to significantly impact the economy as desired. Some consistent behavioral traits were identified from the results to include: the precepts of potential maximization, profit maximization, accommodation principles, survival and cost-minimization principles, and the neutrality axiom. © 2007 by The Haworth Press, Inc. All rights reserved.