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AbstractResearch Question/IssueThe objective of this study is to examine whether the effectiveness of internal governance is associated with internal control material weaknesses. We employ the concept of internal governance as the checks‐and‐balances mechanism that subordinate executives apply to the chief executive officer (CEO). We predict that with long horizons and long‐term interests aligned with firms' long‐term growth, subordinate executives may have the incentive to support a high‐quality internal control system, which is an important factor contributing to firms' long‐term success.Research Findings/InsightsUsing data on CEOs' and other highest paid executives' age and compensation to measure the effectiveness of internal governance, we empirically find consistent evidence that internal governance effectiveness is associated with higher internal control quality. In particular, we find that effective internal governance is related to a lower likelihood of firms reporting internal control material weaknesses, fewer material weaknesses in internal control (ICMWs), a lower chance of firms disclosing internal control weaknesses for multiple years, and a lower probability of firms reporting entity‐level and/or account‐level material weaknesses in internal control. We also show that among the two factors forming the internal governance measure, only subordinate executives' horizon is associated with the probability of firms disclosing ICMWs. Our further analysis reveals that the probability of reporting ICMWs is lower for growth firms with effective internal governance.Theoretical/Academic ImplicationsOur findings contribute to the literature on internal governance and internal control quality. The impact of the checks‐and‐balances mechanism inherent in internal governance on firms' investment in the internal control system and thus the probability of disclosing ICMWs has not received sufficient attention from accounting researchers. While prior studies focus on individual members of the management team, our finding implies that the quality of the internal control system is a result of the joint effort of the whole management team. Unlike the extant literature that captures only certain aspects of reporting quality and information disclosures, our study emphasizes the role of the horizon dimension of internal governance in enhancing the reliability of financial reporting (measured as the quality of the internal control system).Practitioner/Policy ImplicationsOur results shed light on the important role of subordinate executives in monitoring CEOs' short‐term interests.

This thesis seeks to better understand the formation and implementation of the restrictions that the EU and EU member states have imposed on exports of military and security equipment. Specifically, the thesis develops two norms-based theoretical frameworks for understanding how and why particular restrictions become integrated in states' national and collective export controls, why others are rejected, and the different ways this integration occurs. To develop these frameworks this thesis carries out two case studies comparing aspects of Sweden's, the UK's and the USA's arms export controls and examining the emergence of the EU's export control 'regime', conducts a review of past research on export controls, produces a historical narrative summarizing the evolution of states' restrictions on exports of military and security equipment, and draws from key aspects of the literature on norms in the fields of international relations and organizational theory. The first theoretical framework posits that the process of adopting particular restrictions on exports of military and security equipment can be best understood as a competition between different constitutive and regulative norms. Applying this 'competing norms' framework creates a better understanding of why certain efforts to impose restrictions fail while others succeed. The second theoretical framework is informed by the concept of organized hypocrisy and helps explain the outcomes that can emerge when different norms support and oppose the adoption of particular restrictions. Applying this 'organized hypocrisy' framework shows how export controls can be viewed as consisting of 'talk', 'decision' and 'action' and that each aspect can be adjusted in response to the pressures exerted by different norms. The thesis applies these theoretical frameworks in two case studies that explore recent processes of revising aspects of Sweden's arms export controls and the EU's export control regime. This thesis makes several novel contributions to the study of the trade ...

This essay deals with the implications of the judicial review related to Constitutional amendments, through the selection of some representative cases. It focuses on the case-law of the legal systems chosen where Constitutional or Supreme Courts asserted being enabled to verify the effectiveness of limits against possible misuses by political actors. Those Courts used different arguments to demonstrate that the control of amendments is an unavoidable consecuence of the Constitutional supremacy and all of them are analyzed in the text. ; Este estudio investiga el alcance del papel de la jurisdicción constitucional relativa a las reformas, mediante el análisis de algunos casos representativos. Se centra en las decisiones tomadas en los ordenamientos seleccionados, donde los Tribunales Constitucionales —o Supremos, en su caso— han reivindicado la función de supervisores de la efectividad de los límites, frente a posibles excesos de los actores políticos. Para demostrar que el control de las reformas es un corolario imprescindible de la supremacía constitucional, estos órganos jurisdiccionales han empleado los diferentes argumentos que se analizan en el texto.This essay deals with the implications of the judicial review related to Constitutional amendments, through the selection of some representative cases. It focuses on the case-law of the legal systems chosen where Constitutional or Supreme Courts asserted being enabled to verify the effectiveness of limits against possible misuses by political actors. Those Courts used different arguments to demonstrate that the control of amendments is an unavoidable consecuence of the Constitutional supremacy and all of them are analyzed in the text.

Los contantes cambios en el modelo de juzgamiento punitivo que afrontan países de algunas regiones como Suramérica y Centroamérica, motivados por convulsionados intereses políticos, incursión activa en dinámicas internacionales y necesidades novedosas, generan circunstancias de difícil adaptación a las nuevas formas del proceso penal. Colombia no ha sido ajena a actividades políticas volátiles que traen inmersas la implementación de nuevas normatividades con el ánimo de responder a actuales necesidades de la sociedad, camino que inició con el Acto Legislativo 03 de 2002, prosiguió con la promulgación de la Ley 906 de 2004 y, de forma constante, ha sufrido una "cascada" de reformas tangenciales o sustanciales que han llevado al procedimiento penal colombiano a perder la identidad como sistema y a desconocer la esencia de un modelo de juzgamiento adversarial. Dentro de la diversidad de problemáticas que ha asumido el sistema penal acusatorio, se encuentra el desconocimiento de principios constitucionales de carácter universal, las enormes barreras para la defensa a la hora de realizar su investigación, las dificultades técnicas y logísticas para poder administrar justicia, el desconocimiento de la lógica y esencia propia del sistema acusatorio-adversarial, entre otros, y, el que es objeto a tratar en esta monografía: La ausencia de control material de la acusación. Colombia estableció en la Ley 906 de 2004 una acusación que ofrece unas posibilidades limitadas a la defensa y nulas para el juez de conocimiento a la hora de controlar el acto dispositivo de acusar. A medida que avanza la aplicación del sistema acusatorio –adversarial, se encuentran posiciones críticas que referencian los graves vacíos de la estructura normativa y su desarticulación con los principios constitucionales, en especial con dicho acto procesal que tiene inmersa, en su totalidad, la expresión democrática que plantea el derecho penal como una barrera para frenar el poder desmedido por parte del Estado contra sus ciudadanos. ; The constant changes in the model of punitive trial faced by countries in some regions such as South America and Central America, motivated by convulsive political interests, an active incursion into international dynamics and novel needs, generate difficult circumstances to adapt to new forms of criminal process. Colombia has not been unaware of volatile political activities that bring immersed the implementation of new regulations with the aim of responding to current needs of society, a road that began with the Legislative Act 03 of 2002, continued with the promulgation of Law 906 of 2004 And has consistently suffered a "cascade" of tangential or substantial reforms that have led the Colombian criminal procedure to lose identity as a system and to ignore the essence of a model of adversarial adjudication. Within the diversity of problems that the accusatory criminal system has assumed, there is the lack of universal constitutional principles, the enormous barriers to defense in the investigation, technical and logistical difficulties in order to administer justice, Ignorance of the logic and essence of the accusatory-adversarial system, among others, and the object to be dealt with in this monograph: The absence of material control of the accusation. Colombia established in Law 906 of 2004 an accusation that offers possibilities limited to the defense and null for the judge of knowledge when controlling the act of accusing. As the application of the accusatory-adversarial system progresses, there are critical positions that refer to the serious voids of the normative structure and its disarticulation with the constitutional principles, especially with this procedural act that has immersed in its entirety the democratic expression Which poses criminal law as a barrier to curb the unbridled power on the part of the State against its citizens.