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The main aim of this study is to investigate empirically the effect of some internal and external corporate governance mechanisms on the UAE firm performance (i.e.…
The main aim of this study is to investigate empirically the effect of some internal and external corporate governance mechanisms on the UAE firm performance (i.e., Tobin’s q). Like many of the developing countries all over the world, the UAE has recently initiated the application of the international standards of corporate governance as a part of its merge with the global economy. This study utilizes a sample of 51 firms using the accounting and market data available for 2004. The sample firms are all listed in either the Dubai Financial Market or the Abu Dubai Securities Market. The cross‐sectional regression analysis is employed to test the hypotheses of the study. The results of this study show that the governmental ownership, the debt ratio (total debt/total assets), and the payout dividends ratio have a significant impact on the firm performance; whereas the institutional investors, the board size, the firm size (sales), and the audit type show a non‐significant impact. This study concludes that three of the corporate governance mechanisms in the UAE used in this study appear to be strong enough to affect the firm performance. However, the other four mechanisms are found to have a weak effect on the firm performance which could be a result of the significant absence of some aspects of corporate governance practices and lack of enforcement of rules.
The Minister of Technology, Mr Anthony Wedgwood Benn, has appointed Captain A. A. Murphy, R.N., as Director of Guided Weapons Research and Development (Naval) Branch in the Ministry of Technology. He succeeds Captain K. A. W. Pilgrim, R.N., who is returning to the Ministry of Defence.
In the Court of Appeal last summer, when Van Den Berghs and Jurgens Limited (belonging to the Unilever giant organization) sought a reversal of the decision of the trial judge that their television advertisements of Stork margarine did not contravene Reg. 9, Margarine Regulations, 1967—an action which their Lordships described as fierce but friendly—there were some piercing criticisms by the Court on the phrasing of the Regulations, which was described as “ridiculous”, “illogical” and as “absurdities”. They also remarked upon the fact that from 1971 to 1975, after the Regulations became operative, and seven years from the date they were made, no complaint from enforcement authorities and officers or the organizations normally consulted during the making of such regulations were made, until the Butter Information Council, protecting the interests of the dairy trade and dairy producers, suggested the long‐standing advertisements of Reg. 9. An example of how the interests of descriptions and uses of the word “butter” infringements of Reg. 9. An example af how the interests of enforcement, consumer protection, &c, are not identical with trade interests, who see in legislation, accepted by the first, as injuring sections of the trade. (There is no evidence that the Butter Information Council was one of the organizations consulted by the MAFF before making the Regulations.) The Independant Broadcasting Authority on receiving the Council's complaint and obtaining legal advice, banned plaintiffs' advertisements and suggested they seek a declaration that the said advertisements did not infringe the Regulations. This they did and were refused such a declaration by the trial judge in the Chancery Division, whereupon they went to the Court of Appeal, and it was here, in the course of a very thorough and searching examination of the question and, in particular, the Margarine Regulations, that His Appellate Lordship made use of the critical phrases we have quoted.
The purpose of this paper is to investigate the relationship between firm size, resources, capabilities and involvement in public procurement. While the liability of…
The purpose of this paper is to investigate the relationship between firm size, resources, capabilities and involvement in public procurement. While the liability of smallness has been a recurring theme in research into public sector suppliers, there remains a dearth of evidence and theorising on the effects of size.
A model linking firm size, resources, capabilities, tendering activity and performance is devised. Resource-based view theory informs the model. Survey data from over 3,000 firms active in the Irish public sector marketplace is used to test the model.
As hypothesised, firm size is positively associated with tendering resources and capabilities. Resources and capabilities, in turn, influence tendering activity and performance. Specifically, resources act as enablers for the number and value of contracts firms tender for while capabilities are important for winning contracts. The author also finds similarities between medium and large enterprises in their ability to tender.
The treatment of tendering resources and capabilities is not exhaustive. Future research could include additional indicators of resources (e.g. external consultants, IT) and capabilities (e.g. production, process innovation).
Managers of micro and small suppliers should focus on augmenting their tendering capabilities as they lag bigger suppliers. Legislators need to re-assess current “one-size-fits-all” small and medium enterprise (SME) friendly policy as it is not sensitive to intra-SME differences.
This study introduces an important qualification into understanding of public sector suppliers by demonstrating that SME disadvantage is less black and white than shades of grey.
Mr I. Lawson, C.B., C.B.E., D.F.C. and Bar has been appointed Regional Sales Manager for Western Europe by British Aircraft Corporation, Weybridge Division. Prior to his appointment, Mr Lawson was Assistant Chief Adviser, Personnel and Logistics at the Ministry of Defence (Air).
The past year has ended on a disturbing note. On 2nd December the engineering unions called a 24‐hour strike which benefited nobody and did great harm to the country's industrial output. This affair was followed some days later by the graver threat of a national railway strike which, for the moment at least, has been averted.
The transition from school to work or to post-secondary training is a critical period for all students (Gilmore, Bose, & Hart, 2001; Zaft, Hart, & Zimbrich, 2004). Thus, a challenge for educators is to develop educational programs and services that embrace the characteristics that is prevalent in highly successful adults with and without disabilities. For years, adolescents and adults with development disabilities did not receive much attention from general or special educators. Fortunately, special educators now are reorganizing the complex needs of these older individuals and are making progress in designing interventions to meet their diverse needs. However, they alone cannot ensure the success of these students in secondary and post-secondary situations (see Hart, Mele-McCarthy, Pasternack, Zimbrich, & Parker, 2004). Legislators and policymakers must consider the special needs of this population in reforming secondary education; and general and special educators must share the responsibility of preparing them for graduation and post-secondary planning (see Bailey, Hughes, & Karp, 2004). In addition, community services must join forces with educators and employers to provide individuals with developmental disabilities with a continuum of services throughout their life span. Many students with developmental disabilities find themselves unprepared at college entry in a number of areas including inadequate knowledge of subject content, underachieving in academic skills, poor organizational skills (e.g., time management and study skills), poor test taking skills, lack of assertiveness, and low self-esteem (Dalke & Schmitt, 1987; Mull, Sitlington, & Alper, 2001; Stodden & Whelley, 2004).
This paper examines whether the financial performance of the firm is associated with the risk‐taking propensity of executives, which is inferred from the structure of…
This paper examines whether the financial performance of the firm is associated with the risk‐taking propensity of executives, which is inferred from the structure of their share option portfolio. The objective of this paper is to determine if executives have greater risk bearing preferences when they have more share options than shares in their firm. In turn, executives' risk‐taking preferences suggest that these decision‐makers adopt value‐increasing strategies. The results of this study support this notion. The results of the study of 182 Australian firms demonstrate that the negative relationship between firm risk and firm performance is weaker when executives hold a higher proportion of share options than shares in their investment in the firm. These results hold implications for executives' compensation contracts. That is, executives who share in their firms' risk via share options are more likely to undertake risky activities with high‐expected performance outcome.
Teamwork has become increasingly prevalent both in undertaking research projects and in preparing papers for publication. While there are some reflections on the process…
Teamwork has become increasingly prevalent both in undertaking research projects and in preparing papers for publication. While there are some reflections on the process of teamworking in the organisational studies literature, there is little published work in the area of entrepreneurship. Most existing studies distinguish between problems associated with task-based conflict and relationship-based conflict. In this chapter, the author provides an ethnographic account of a team involved with preparing a proposal and, subsequently, undertaking a small firm research project. The Evolution of Business Knowledge (EBK) was a major Economic and Social Research Council (ESRC) initiative which funded 13 distinct projects. During the nine-month period of preparing and refining the research proposal, the team worked together extremely effectively. There were periods of intense knowledge sharing, which enabled the team to develop an impressive and successful bid to study the ‘EBK in 90 small firms’. A major dispute between team members, during the early stages of the fieldwork, led to a period of both task-based and relationship-based conflicts, which threatened to undermine the project. As a result of my first-hand experiences with the EBK project, the author suggests that accounts such as this will help those who find themselves operating in dysfunctional teams make sense of the underlying tensions associated with ‘academic knowledge creation’.