Determinants of voluntary audit and voluntary full accounts in micro- and non-micro small companies in the UK

This is an Author's Accepted Manuscript of an article published in Accounting and Business Research, 42(4), 441 - 468, 2012, copyright Taylor & Francis, available online at: http://www.tandfonline.com/10.1080/00014788.2012.667969.This study investigates the link between the auditing and filing choices made by a sample of 592 small private companies, which includes 419 micro-companies. It examines decisions made in connection with the 2006 accounts following UK's adoption of the maximum EU size thresholds in 2004, and the impact of the proposed Directive on the annual accounts of micro-companies. The research extends the model of cost, management and agency factors associated with voluntary audit, and develops a complementary model for voluntary full accounts. The results show the benefits of placing full audited accounts on public record that outweigh the costs for a significant proportion of companies. In non-micro small companies, voluntary audit is determined by cost and agency factors, whereas in micro-companies it is driven by cost, management and agency factors. In both groups, the predictors of voluntary full accounts include management and agency factors, and choosing voluntary audit is one of the key factors. The study provides models that can be tested in other jurisdictions to provide evidence of the needs of micro-companies, and the discussion of the methodological challenges for small company researchers in the UK makes further contribution to the literature

Priorities, policies and (time)scales : the delivery of emissions reductions in the UK transport sector

Peer reviewedPreprin

Assessment of highly distributed power systems using an integrated simulation approach

In a highly distributed power system (HDPS), micro renewable and low carbon technologies would make a significant contribution to the electricity supply. Further, controllable devices such as micro combined heat and power (CHP) could be used to assist in maintaining stability in addition to simply providing heat and power to dwellings. To analyse the behaviour of such a system requires the modelling of both the electrical distribution system and the coupled microgeneration devices in a realistic context. In this paper a pragmatic approach to HDPS modelling is presented: microgeneration devices are simulated using a building simulation tool to generate time-varying power output profiles, which are then replicated and processed statistically so that they can be used as boundary conditions for a load flow simulation; this is used to explore security issues such as under and over voltage, branch thermal overloading, and reverse power flow. Simulations of a section of real network are presented, featuring different penetrations of micro-renewables and micro-CHP within the ranges that are believed to be realistically possible by 2050. This analysis indicates that well-designed suburban networks are likely to be able to accommodate such levels of domestic-scale generation without problems emerging such as overloads or degradation to the quality of supply

Improved prediction of shell side heat transfer in horizontal evaporative shell and tube heat exchangers

This paper presents an improved prediction method for the heat transfer and pressure drop in the shell side of a horizontal shell and tube evaporator. The results from an experimental test program are used in which a wide range of evaporating two-phase shell side flow data was collected from a TEMA E-shell evaporator. The data are compared with shell side heat transfer coefficient and pressure drop models for homogeneous and stratified flow. The comparison suggests a deterioration in the heat transfer data at low mass fluxes consistent with a transition from homogeneous to stratified flow. The pressure drop data suggest a stratified flow across the full test range. A new model is presented that suggests the transition in the heat transfer data may be due to the extent of tube wetting in the upper tube bundle. The new model, which also takes into account the orientation of the shell side baffles, provides a vast improvement on the predictions of a homogenous type model. The new model would enable designers of shell side evaporators/reboilers to avoid operating conditions where poor heat transfer could be expected, and it would also enable changes in process conditions to be assessed for their implications on likely heat transfer performance. (Abstract from WOK

Exploring the role of professional associations in collective learning in London and New York's advertising and law professional service firm clusters.

The value of regional economies for collective learning has been reported by numerous scholars. However often work has been criticised for lacking analytical clarity and failing to explore the architectures of collective learning and the role of the knowledge produced in making firms in a cluster economy successful. This paper engages with these problematics and investigates how collective learning is facilitated in the advertising and law professional service firm clusters in London and New York. It explores the role of professional associations and investigates how they mediate a collective learning process in each city. It argues that professional associations seed urban communities of practice that emerge outside of the formal activities of professional associations. In these communities individual with shared interests in advertising and law learn from one-another and are therefore able to adapt and evolve one-another approaches to common industry challenges. The paper suggests this is another form of the variation Marshall highlighted in relation to cluster-based collective learning. The paper also shows how the collective learning process is affected by the presence, absence and strength of an institutional thickness. It is therefore argued that a richer understanding of institutional affects is needed in relation to CL

Performance of an objective fabric pilling evaluation method

In previous work, we established the principle of objective fabric pilling evaluation based on two-dimensional dual-tree complex wavelet transform (2DDTCWT) image reconstruction and non-linear classification using a neural network. This proof-of-principle work was performed using standard pilling test images. Here, we demonstrate the practical operation of the objective pilling evaluation method using a large set of real fabric pilling samples. We show that piling classification results from a trained multiple-layer perceptron neural network achieve a regression correlation of approximately 96% with the corresponding human expert pilling ratings.<br /

Regional policy spillovers : the national impact of demand-side policy in an interregional model of the UK economy

UK regional policy has been advocated as a means of reducing regional disparities and stimulating national growth. However, there is limited understanding of the interregional and national effects of such a policy. This paper uses an interregional computable general equilibrium model to identify the national impact of a policy-induced regional demand shock under alternative labour market closures. Our simulation results suggest that regional policy operating solely on the demand side has significant national impacts. Furthermore, the effects on the nontarget region are particularly sensitive to the treatment of the regional labour market

Continuity or change in business representation in Britain? An assessment of the Heseltine initiatives of the 1990s

Britain has a fragmented, overlapping, and underresourced system of business representation. Attempts at reform, however, have proved difficult and largely unsuccessful. A coherent and logical system is relevant, in terms of both an effective dialogue between government and business, and the promotion of competitiveness and productivity. Through interviews and archival evidence, I look at how government has attempted to reform business associations. The main focus is the Heseltine initiatives of the 1990s: I outline the various initiatives taken, reveal the extent to which policy represented continuity or change, and consider whether the initiatives were effective. I show that they had a degree of success but that they would have made greater impact if they had been sustained over a longer period of time. A consideration of the historical context, moreover, suggests there may be limits to the role of government intervention in business association reform

Renewable energy in remote communities

This article is the result of a competitively tendered University-funded project, this brings together two major Government Policy areas: sustainable communities and use of carbon fuels, and is aimed at influencing the policy debate on the difficulties of linking remote communities to renewable energy production because of poor distribution networks. Linkage with the Sustainable Communities agenda is an essential ingredient, as the proposal is that the renewable energy technologies will be installed and maintained by the communities themselves