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Article

Andrew Thorburn

Considers the best method by which a developer might obtain financefor a leisure development. Outlines the importance of a well‐preparedbusiness plan and a good management…

Abstract

Considers the best method by which a developer might obtain finance for a leisure development. Outlines the importance of a well‐prepared business plan and a good management team. Advises on how to approach the source of funds. Discusses when to buy into, or sell out of, a scheme. Concludes that leisure development will begin to divide between the high‐risk, short‐term schemes, which are supported by specialist investors seeking a high return and lower risk schemes which are extremely well prepared.

Details

Journal of Property Finance, vol. 2 no. 3
Type: Research Article
ISSN: 0958-868X

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Article

Andrew Thorburn and Robert Tiltscher

Comments on the demand for more golf clubs. Discusses the marketand investment potential for different types of course. Offersguidelines for developers. Outlines possible…

Abstract

Comments on the demand for more golf clubs. Discusses the market and investment potential for different types of course. Offers guidelines for developers. Outlines possible methods of funding.

Details

Journal of Property Finance, vol. 1 no. 2
Type: Research Article
ISSN: 0958-868X

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Article

Federica Casonato, Federica Farneti and John Dumay

To present the continuation of a case study by Beck et al. (2017) on an Australian bank (CBD) during the period 2004–2013 by examining whether integrated reporting affects…

Abstract

Purpose

To present the continuation of a case study by Beck et al. (2017) on an Australian bank (CBD) during the period 2004–2013 by examining whether integrated reporting affects relational capital and helps to repair an organisations’ reputation. Both studies examine how a bank rocked by a major scandal in 2004 has attempted to repair its legitimacy through integrated reporting (<IR>). The paper aims to discuss these issue.

Design/methodology/approach

This study is a post facto analysis based on the original research from Beck et al. (2017). The research process involved a case study approach with an analysis framed by impression management theory to investigate whether the information in CBD’s integrated reports is consistent with other information available to investors.

Findings

The authors find there is a gap between what CBD discloses in its integrated reports and what is publicly available in other media. CBD’s talk and actions are not aligned, and that asymmetry translates into a decline of trust in CBD. The bank’s integrated reports reveal how management discloses or withholds information to protect their own interests and at their own discretion. These conclusions indicate that the integrated reporting paradigm is being co-opted by IM strategies to improve legitimacy through trust, reputation and social capital.

Research limitations/implications

Future research needs to reach beyond the organisational boundaries and understand if <IR> adds value for society, or is just a new form of multicapitalism, being an ideology to help the rich become richer? The answers are important if we ever hope to see misconduct disappear from our corporations and for company reports to become documents bearing truth and not espouse rhetoric based on organisational hypocrisy.

Originality/value

The paper adds to the growing body of research investigating <IR> in practice to understand the impact of <IR> and whether it is a new and useful reporting tool or just another management fashion.

Details

Journal of Intellectual Capital, vol. 20 no. 1
Type: Research Article
ISSN: 1469-1930

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Article

SO much controversy has raged around the subject of newsrooms in the past two years, that librarians are, as a rule, utterly tired of it, and the appearance of still…

Abstract

SO much controversy has raged around the subject of newsrooms in the past two years, that librarians are, as a rule, utterly tired of it, and the appearance of still another article upon the subject is not calculated to tone down the general spirit of vexation. It requires no little courage to appear in the arena in this year of Grace, openly championing those departments of our institutions which were originally intended to convey the news of the day in the broadest manner.

Details

New Library World, vol. 9 no. 8
Type: Research Article
ISSN: 0307-4803

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Article

Patty Bick, Matthew D. Crook, Andrew A. Lynch and Brian Walkup

The purpose of this paper is to examine the impact firm proximity to financial centers has on announcement returns and time to deal completion for mergers and acquisitions.

Abstract

Purpose

The purpose of this paper is to examine the impact firm proximity to financial centers has on announcement returns and time to deal completion for mergers and acquisitions.

Design/methodology/approach

Using a data set of merger and acquisition activity from 1986 to 2014, target and acquiring firms are classified as rural or urban based on their geographic proximity to major financial centers. The impact of this proximity on short-term acquisition announcement returns and on the amount of time required to complete the transaction are tested.

Findings

Markets react more favorably to the acquisition of firms headquartered in a rural area, likely due to increased information advantage on the part of the acquiring firm. Furthermore, the acquisition of a rural firm requires greater time to completion.

Practical implications

Acquiring firms may be able to use information asymmetry to their advantage when acquiring firms located in a more rural setting with higher levels of information asymmetry. However, this requires the acquiring firm to generate an informational advantage and will also require a greater time commitment on average to complete the deal.

Originality/value

While prior literature has demonstrated that the distance between target and acquirer can affect acquisition returns and time to deal completion, this study adds to the literature by demonstrating that the geographic location of the target firm relative to major financial hubs can have a unique effect on mergers and acquisitions as well.

Details

Managerial Finance, vol. 43 no. 11
Type: Research Article
ISSN: 0307-4358

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Article

John R. Mansfield and James A. Pinder

This paper has three principal aims: to briefly consider the term “depreciation” in the context of property values; to critically review the term “obsolescence” and two of…

Abstract

Purpose

This paper has three principal aims: to briefly consider the term “depreciation” in the context of property values; to critically review the term “obsolescence” and two of its distinct forms; and to highlight the practical difficulties in pricing obsolescence using inflexible methodologies in a market place that is subject to evolving criteria.

Design/methodology/approach

The paper critically reviews existing literature and advice from international professional bodies.

Findings

The general conclusions are that despite the need to be more explicit in valuations, current methods are unable to address such detail. The guidance and advice offered by professional bodies need to be thoroughly revised. It is hoped that the progress being made in methodology will be incorporated in directed guidance to practitioners.

Originality/value

The paper offers an applied examination of an issue that has an impact on many aspects of contemporary real estate consultancy services.

Details

Property Management, vol. 26 no. 3
Type: Research Article
ISSN: 0263-7472

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Article

Sandra Hildbrand and Shamim Bodhanya

The purpose of this paper is to introduce the viable system model (VSM) as a valuable tool to the food industry. A sugarcane supply chain was used to evaluate VSM's…

Abstract

Purpose

The purpose of this paper is to introduce the viable system model (VSM) as a valuable tool to the food industry. A sugarcane supply chain was used to evaluate VSM's applicability to the food industry by exploring how VSM can help to understand its complexity.

Design/methodology/approach

VSM and qualitative research methods were combined in an interactive manner to produce a VSM diagnosis.

Findings

The VSM diagnosis highlighted that while continuity of the system is not at risk, many improvement opportunities exist. For example, the local mill management lacks autonomy, essential operational measurement cannot be realised, coordination is deficient and a vision or identity for the mill area and a joint effort to engage in strategic considerations is missing. Miller-grower fragmentation surfaced as one cause of these shortcomings.

Research limitations/implications

Although VSM revealed shortcomings, it was unable to facilitate interventions for improvement. VSM's capacity in dealing with shortcomings should be strengthened and the merit of VSM in other food-related supply systems should be investigated.

Practical implications

Millers and growers need to become genuine partners and work jointly on the issues that challenge the system to realise the full potential that is embedded in the system.

Originality/value

VSM has not been applied in the sugar industry context and the amount of researches that explore sugarcane supply chains holistically is limited.

Details

British Food Journal, vol. 116 no. 12
Type: Research Article
ISSN: 0007-070X

Keywords

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