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1 – 10 of 152Karen A. Tarnoff, Eric D. Bostwick and Kathleen J. Barnes
Faculty participation in the assurance of learning (AoL) is requisite both for the effective operation of the system and for accreditation compliance, but faculty often resist…
Abstract
Purpose
Faculty participation in the assurance of learning (AoL) is requisite both for the effective operation of the system and for accreditation compliance, but faculty often resist engaging in AoL tasks. The purpose of this paper is to provide specific recommendations to address faculty concerns and to guide AoL systems toward maturity.
Design/methodology/approach
This paper provides a comprehensive model of faculty resistance perspectives aligned to AoL maturity, provides specific responses to faculty resistance and introduces success markers of progress toward maturity.
Findings
Specifically, a three-stage model of AoL system maturity is presented and aligned with five faculty perspectives. For each faculty perspective, responses targeting causal factors are proposed and signs of progress toward the next level of faculty engagement are highlighted.
Practical implications
Faculty and AoL leaders will be able to identify their current stage of AoL system maturity and implement practical solutions to move to the next stage of system maturity.
Social implications
Understanding the motivations for faculty resistance will facilitate more meaningful and effective internal interactions as a school seeks to improve its AoL system. In turn, a more effective AoL system will promote better learning experiences for students; and better learning allows students to become productive in their chosen careers more quickly, thus improving society as a whole.
Originality/value
To the knowledge, no prior paper has organized faculty resistance along a maturity continuum, provided targeted responses based on the level of maturity or included signs that indicate growth toward the next level of maturity.
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To implement the model described in the companion paper, “Pricing credit risk through equity options calibration, part 1 – theory,” and show how to calculate the price of a set of…
Abstract
Purpose
To implement the model described in the companion paper, “Pricing credit risk through equity options calibration, part 1 – theory,” and show how to calculate the price of a set of coupon bonds issued by a US telecommunications and media company, AOL Time Warner, based on the information retrieved by the AOL equity derivatives market.
Design/methodology/approach
The risk‐neutral density function of AOL Time Warner's stock is inferred from options volatilities; from there, the AOL assets risk neutral density function is calculated together with the default probabilities at different dates in the future. Finally, a set of AOL coupon bonds are priced accordingly and compared to market prices.
Findings
The AOL model‐theoretical prices are close to market prices, meaning that it is possible to perform relative‐value analysis in the risky bonds market based on the equity markets information.
Originality/value
The paper shows how easily the model can be used as a tool for performing relative‐value analysis between the equity options and the credit markets by using real market data.
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Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange…
Abstract
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.
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A majority of the loan products produced by modern financial intermediaries (e.g., banks) provide borrowers with an option to prepay loans. The institutions issuing these products…
Abstract
A majority of the loan products produced by modern financial intermediaries (e.g., banks) provide borrowers with an option to prepay loans. The institutions issuing these products typically retain much of this prepayment exposure on their balance sheets. This article develops and applies a general framework to match funding to the prepayment‐sensitivity of assets, in order to preserve spread and achieve a more stable return profile.
THE PROPOSED AMERICA ONLINE‐TIME WARNER MERGER—AT $165 BILLION, the largest in U.S. history, so far—may create the biggest media giant the world has ever seen, but that's not the…
Abstract
THE PROPOSED AMERICA ONLINE‐TIME WARNER MERGER—AT $165 BILLION, the largest in U.S. history, so far—may create the biggest media giant the world has ever seen, but that's not the real story. Forget the fact that pundits see the merger as a harbinger of increasing consolidation of media companies. Forget that the geeky new kid, AOL, grabbed a huge chunk of a relatively venerable firm, not the other way around. In fact, forget all the headlines you've read.
Garrett Lane Cohee, Jeff Barrows and Rob Handfield
Each year, the US defense industry outsources nearly $400 bn of domestic goods and services through competitive bids. These procurement activities are quite often complex and…
Abstract
Purpose
Each year, the US defense industry outsources nearly $400 bn of domestic goods and services through competitive bids. These procurement activities are quite often complex and specialized in nature because of a highly regulated federal acquisition contracting environment. Ongoing calls to improve supplier management and drive innovation in the defense industry offers an opportunity to adopt Early Supplier Integration (ESI) initiatives that have proven successful in the private sector. This paper identifies critical ESI activities and acquisition practices that the defense industry should adopt to ensure enhanced effectiveness in new product development.
Design/methodology/approach
Leveraging a conceptual ESI model derived from the research, an in-depth case study of 12 product development projects from a major defense contractor was performed. In the context of project performance, critical ESI activities and moderating effects were assessed.
Findings
Three key ESI activities have the greatest impact on aggregate project performance: system design involvement, design adjustment opportunities and design for manufacturability/assembly/testability involvement. Use of formal supplier agreements also significantly impacts project performance during the development phase. In addition, project complexity and product team maturity were identified as environment moderators; higher complexity projects tended to negatively moderate the impact of ESI upon performance, and higher team maturity levels tended to positively moderate the impact of ESI upon performance.
Originality/value
The results provide a sound framework for empirical validation through future quantitative studies and defense industry analyses. In addition, insights and recommendations for interpretation and adaptation of federal acquisition regulations to allow increased utilization of ESI within the defense industry are substantiated.
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Narcisa Meza, Anibal Báez, Javier Rodriguez and Wilfredo Toledo
This paper aims to examine the relationship between the dividend signaling hypothesis and a firm's life cycle.
Abstract
Purpose
This paper aims to examine the relationship between the dividend signaling hypothesis and a firm's life cycle.
Design/methodology/approach
The authors use Dickinson's (2011) methodology to develop a proxy for the firm's stages in its life cycle and to examine the relationship between dividends and future earnings following a nonlinear setting.
Findings
Using a sample of US firms during the 2000–2014 period, the authors find that the signaling hypothesis can be dependent on firm-specific characteristics, such as life cycle stages. The authors report that the relationship between dividend changes and subsequent earnings changes is different for different life stages. They also find that changes in the amount of the dividend provide some information about future earnings, especially during the early (introductory and growth) stages. These results are consistent with the use of earnings or return on assets as the dependent variables in models of earnings expectations.
Originality/value
The authors believe that this is the first time that the dividend signaling hypothesis has been linked to the life cycle of the firm.
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The purpose of this paper is to provide a provocative and critical introduction and solutions to significant contemporary issues of financial regulation.
Abstract
Purpose
The purpose of this paper is to provide a provocative and critical introduction and solutions to significant contemporary issues of financial regulation.
Design/methodology/approach
The paper is an expert’s review of contemporary issues and challenges in financial regulation.
Findings
The paper advocates that contemporary financial regulation challenges are addressed through governance reforms and an enhanced focus on maturity transformation, rather than a focus on just capital and liquidity management. In particular, more emphasis should be given to individual decision-makers within banks rather than institutions.
Practical implications
The review paper considers areas where future regulatory reform may be enhanced and redirected.
Originality/value
The review provides original and critical perspectives on contemporary regulatory challenges.
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Seeks to explain why key aspects of the current turmoil in the telecommunications sector is not simply the fact that, both structures and strategies are changing unusually…
Abstract
Seeks to explain why key aspects of the current turmoil in the telecommunications sector is not simply the fact that, both structures and strategies are changing unusually rapidly, and consequences for structures and strategies during the decades remainder. Sums up that technical change has driven the telecommunications sector – just as it did previously in respect of computers, and rapid technical advances mean that first‐movers generally take the biggest risks.
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A firm’s real estate exposure can have a pronounced effect on the way investors value the enterprise in its entirety. Most of the literature of corporate real estate is mute on…
Abstract
A firm’s real estate exposure can have a pronounced effect on the way investors value the enterprise in its entirety. Most of the literature of corporate real estate is mute on the topic of firm valuation and the influence of real estate thereon. When the literature does address the topic of finance, it typically discusses the various schemes available for the capitalisation of real estate, but does not address this in the larger context of firm capitalisation and value. The purpose of this paper is to raise the issue of how real estate’s presence on the balance sheet may influence investors’ views of firm value. We look at a few simple measures and propose a rationale for understanding the effect of real estate on valuation.
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