Scott S. Cowen

The impact of corporate characteristics on social responsibility disclosure: A typology and frequency-based analysis

Since the mid-1970s a number of studies have investigated the nature and frequency of corporate social responsibility disclosures, their patterns and trends, and their general relationships to corporate size and profitability. This study seeks to extend our knowledge of the relationship between a number of corporate characteristics and specific types of social responsibility disclosures, based on an extensive sample of U.S. corporate annual reports. Corporate size and industry category are found to correlate with certain types of disclosures while the existence of a corporate social responsibility committee appears to correlate with one particular type of disclosure.

Strategic planning for increased profit in the small business

Abstract This article examines the problems facing the owner-managers of small businesses, and details the investment required in strategic process development which would guarantee the critical 5 per cent difference to ensure the successful growth and adaptability of the company. Formal strategic planning needs to blend with team development to create the concept of ‘strategy-in-use’ and the development of effective management teamwork out of a planning process.

Usefulness of financial ratios in a single industry

Abstract This paper reports the findings of a study on the relationship and ratio grouping of a well-published set of financial ratios within the context of a single, homogenous industry. The findings provide some insight into the validity of using single-industry ratio averages as standards to evaluate individual firm performance. Factor analysis was used to study the interrelationship among the ratios and to determine whether these ratios group in the “traditional” category of ratios suggested in the financial statement analysis literature. This analysis was followed by a cluster analysis of the composite ratios derived from the factor analysis to determine whether any consistent and stable statistical grouping of firms developed over time within the industry. These analyses were done for 72 companies for the period 1966–1975 using Dunn and Bradstreet ratios and Compustat data.

The directors' role in planning: What information do they need?

Abstract The primary role of a corporate board of directors is to assist management in increasing the economic value of the firm. Yet, the nature of management practices at the board level and the character of director information often do not permit directors to perform these functions adequately. This paper describes information requirements of boards in the context of how directors intersect with planning and control systems. The discussion summarizes studies of three companies identified as having board-management relationships capable of contributing to the economic value of the firm. General and specific conditions for implementing effective director information systems are discussed, and the importance of the motivations of CEOs and directors in developing value-creating boards is identified.

Business schools must become learning organizations – or else

Using the analogy of expensive trains heading for a crash, asserts that business schools must learn to do what they teach – i.e. become learning organizations – if they are to stay relevant in a rapidly changing world. Offers advice to schools on how to change, describing learning competences which must be acquired, and illustrates this by using the Weatherhead School of Management′s approach to executive learning.

Matching an Organisation's Planning and Control System to its Environment

One of the greatest problems for a chief executive is how to get management committed to a corporate strategy and implement it with vigour and effectiveness. How is it possible to avoid short-tenn operational priorities driving out longer-term concerns? A key mechanism to achieving this is the planning and control system of the organisation. A framework is presented in this paper which identifies the external and internal factors which influence the design of an appropriate planning and control system. It also explores the relationship between the two and concludes with four principles for the effective development of a planning and control system.

Zero base budgeting in municipalities

Abstract The use of Zero Base Budgeting (ZBB) in the public sector has increased significantly since the early 1970s. Recent surveys have indicated that the federal government, twelve state governments and several municipalities are either in the process of implementing a ZBB System or have one in effect. The primary purpose of this paper is to determine (1) the extent to which ZBB is being used in cities, (2) the procedures and practices being employed in user cities, and (3) the problems and benefits of ZBB as a management tool in local governments. This information, collected from a mail questionnaire, provides insight into how effectively ZBB works in the public sector, in general: and, in cities, in particular.

Designing an effective financial planning and control system

Abstract This article addresses the problems to be found in the design of financial planning and control systems. The primary purpose of an effective planning and control system is to minimize the possibility of management crises and to accomplish this, management must plan for the development of such systems as it would plan for plant expansion or new product development, recognizing the changing needs of the system as the company evolves.

Reforming the Corporate Board from Within: Strategies for CEOs and Directors

An increasing number of corporate critics, government officials, academics and managers are concerned with the apparent defects of corporate boards. Economic studies indicate a basis for these concerns by demonstrating that, on the whole, corporate takeovers diminish the economic value of the acquiring firm [1]. Such studies suggest that pecuniary and non-pecuniary managerial interests appear stronger than board control in value-dim inishing takeovers. Other studies indicate that the correlation between stock returns and CEO pay diminishes as external stock ownership becomes more dispersed [2] and as CEO tenure lengthens [3]. The observation that directors often lack control over corporate strategies and executive salaries is supported by substantial evidence.

Five flaws in evaluating capital expenditures

Abstract Five flaws often occur in evaluating capital expenditures. But these flaws can be avoided, along with their disastrous consequences for resource allocation and a firms competitive position.