Search results

Outlines previous research on the underpricing of initial public offerings (IPOs), describes the institutional framework for IPOs in Malaysia and presents a study of long run Malaysian IPO performance using 1992‐1996 data on 258 IPOs, classified into growth or value portfolios. Explains the methodology and presents the results, which show that value IPOs outperform growth IPOs, while both outperform the market. Finds their cumulative market adjusted return (averaged at 41.7 per cent) positively correlated with book‐to‐market equity, earnings‐to‐price, cashflows‐to‐price and the time lag between close of application and actual listing; and negatively related to the IPO price and size. Briefly considers consistency with other research and the market implications.

The purpose of this paper is to present the MEMORAe project, the goal of which is to offer an alternative to the loss of competencies and knowledge in an organization.

Within the project MEMORAe, interest was focused on the capitalization of knowledge and competencies in the context of an organization. The E‐MEMORAe environment was developed based on the concept of learning organizational memory. This environment is dedicated to be used by a semantic learning organization as support for competency‐based training. It is evaluated in this context.

In the E‐MEMORAe environment, learning content is indexed by knowledge and competencies organized by means of ontologies. Learners can acquire thise knowledge and these competencies by doing different tasks, accessing different contents. In the memory, competencies are defined via the knowledge they enable to be put into practice.

It is known that some industrial communities of practice are interested in the use of E‐MEMORAe.

Within the MEMORAe project, an ontology‐based learning organizational memory is proposed as support for learning object retrieval by competency for competency based learning. Using such a memory enables and goes beyond organizational knowledge management. Knowledge and competencies are defined and structured to facilitate their access and their learning. This latter is also made possible thanks to the resources that they index.

This paper surveys corporate officers responsible for greenhouse gas (GHG) reporting and assurance to determine the attributes that influence their choice between an accounting and a non-accounting GHG assurance provider. Differences in the relative importance of these attributes between those selecting accounting and non-accounting assurers are also explored.

A survey questionnaire was completed by 25 corporate officers responsible for reporting and voluntarily assurance of GHG emissions in Australia. The questionnaire asked the respondents to indicate the relative importance of 41 company and assurer attributes in influencing their assurance provider choice.

Results indicate that attributes related to the assurance provider, such as team and team leader assurance knowledge, reputation, objectivity and independence, are more influential than attributes related to the nature of the company or the nature of the GHG emissions. Attributes such as geographical dispersion of operations were found to be differently important to this decision between companies purchasing assurance from accounting and non-accounting firms.

The study’s main limitation is the small number of participants. Future research may extend this study by exploring the conditions under which companies voluntarily assure GHG emissions as well the motivations of responsible officers in their assurer choice.

This paper provides valuable insights to GHG assurers to assist their understanding of the attributes that are important to potential GHG assurance clients.

The study makes unique contributions to the assurer choice literature by not only addressing this issue in the context of the dichotomous GHG assurance market but also by addressing it from the perspective of the assurance purchaser.

Tests a new series of models which attempt to describe the relationship between advertising and sales. Describes an attempt to obtain information of this kind by investigating the effect of advertising on sales and brand shares. States that a number of researchers are now attempting to develop models to explain the workings of the market for a particular product. Emphasises that the prime area of interest of the study is the effect of advertising on sales and brand shares. States the study does not have the objective of constructing a complete marketing model involving all the variables that are thought to influence a brand's share of a product. Concludes that many results herein are disappointing, but it is perhaps too optimistic to expect the models dealt with earlier to be successful.

Hybrid simulation, which is a general technique for obtaining the seismic response of an entire structure, is an improvement of the traditional seismic test technique. In order to improve the analysis accuracy of the numerical substructure in hybrid simulation, the purpose of this paper is to propose an innovative hybrid simulation technique. The technique combines the multi-scale finite element (MFE) analysis method and hybrid simulation method with the objective of achieving the balance between the accuracy and efficiency for the numerical substructure simulation.

To achieve this goal, a hybrid simulation system is established based on the MTS servo control system to develop a hybrid analysis model using an MFE model. Moreover, in order to verify the efficiency of the technique, the hybrid simulation of a three-storey benchmark structure is conducted. In this simulation, a ductile column—represented by a half-scale scale specimen—is selected as the experimental element, meanwhile the rest of the frame is modelled as microscopic and macroscopic elements in the Abaqus software simultaneously. Finally, to demonstrate the stability and accuracy of the proposed technique, the seismic response of the target structure obtained via hybrid simulation using the MFE model is compared with that of the numerical simulation.

First, the use of the hybrid simulation with the MFE model yields results similar to those obtained by the fine finite element (FE) model using solid elements without adding excessive computing burden, thus advancing the application of the hybrid simulation in large complex structures. Moreover, the proposed hybrid simulation is found to be more versatile in structural seismic analysis than other techniques. Second, the hybrid simulation system developed in this paper can perform hybrid simulation with the MFE model as well as handle the integration and coupling of the experimental elements with the numerical substructure, which consists of the macro- and micro-level elements. Third, conducting the hybrid simulation by applying earthquake motion to simulate seismic structural behaviour is feasible by using Abaqus to model the numerical substructure and harmonise the boundary connections between three different scale elements.

In terms of the implementation of the hybrid simulation with the MFE model, this work is helpful to advance the hybrid simulation method in the structural experiment field. Nevertheless, there is still a need to refine and enhance the current technique, especially when the hybrid simulation is used in real complex engineering structures, having numerous micro-level elements. A large number of these elements may render the relevant hybrid simulations unattainable because the time consumed in the numeral calculations can become excessive, making the testing of the loading system almost difficult to run smoothly.

The MFE model is implemented in hybrid simulation, enabling to overcome the problems related to the testing accuracy caused by the numerical substructure simplifications using only macro-level elements.

This paper is the first to recognise the advantage of the MFE analysis method in hybrid simulation and propose an innovative hybrid simulation technique, combining the MFE analysis method with hybrid simulation method to strike a delicate balance between the accuracy and efficiency of the numerical substructure simulation in hybrid simulation. With the help of the coordinated analysis of FEs at different scales, not only the accuracy and reliability of the overall seismic analysis of the structure is improved, but the computational cost can be restrained to ensure the efficiency of hybrid simulation.

The SERVPERF (for Service Performance) and the HEdPERF (for Higher Education Performance) are two questionnaires for collecting customer/student feedback on service quality that have been tested and used mainly in non‐Chinese contexts. The purpose of this paper is to adapt and initially validate a Chinese translation of these two instruments for application in the context of post‐secondary education in Hong Kong.

Given that a Chinese translation of the two questionnaires concerned has not been tested in this new response‐context, an exploratory approach was adopted by examining the psychometric properties of the SERVPERF scales and the HEdPERF scales via scale alpha, item‐correlation analysis and exploratory factor analysis using valid responses collected from 271 students.

The alpha values of both the SERVPERF scales and the HEdPERF scales are good or acceptable, with the latter better than the former in general. In the present study, the validity of employing the SERVPERF in the targeted response‐context is supported as all the five SERVERF dimensions have been cleanly identified in the exploratory factor analysis. However, only three out of the five HEdPERF dimensions were identified in the present study, and two of the identified dimensions are complex concepts with each of them exhibited as two factors in the exploratory factor analysis, casting doubt on the appropriateness of the direct employment of the HEdPERF in the targeted response‐context for the measurement of service quality.

The students who participated in the present study were pursuing Project Yi Jin, which was a special one‐year post‐secondary programme in Hong Kong.

Taking both reliability and validity issues into consideration, this initial investigation indicates that the SERVPERF may be a more appropriate instrument than the HEdPERF for supporting quality assurance in the context of Hong Kong post‐secondary education, especially when multiple questionnaires will be used for collecting students' feedback on their various experiences at different levels, where it is important for these questionnaires to be, as much as possible, simple and non‐overlapping.

The purpose of this paper is to present a fault tree (FT)-based approach for quantitative risk analysis in the construction industry that can take into account both objective and subjective uncertainties.

In this research, the identified basic events (BEs) are first categorized based on the availability of historical data into probabilistic and possibilistic. The probabilistic and possibilistic events are represented by probability distributions and fuzzy numbers, respectively. Hybrid uncertainty analysis is then performed through a combination of Monte Carlo simulation and fuzzy set theory. The probability of occurrence of the top event is finally calculated using the proposed FT-based hybrid uncertainty analysis method.

The efficiency of the proposed method is demonstrated by implementing in a real steel structure project. A quantitative risk assessment is performed for weld cracks, taking into account of both types of uncertainties. An importance analysis is finally performed to evaluate the contribution of each BE to the probability of occurrence of weld cracks and adopt appropriate response strategies.

In this research, the impact of objective (aleatory) dependence between the occurrences of different BEs and subjective (epistemic) dependence between estimates of the epistemically uncertain probabilities of some BEs are not considered. Moreover, there exist limitations to the application of fuzzy set rules, which were used for aggregating experts’ opinions and ranking purposes of the BEs in the FT model. These limitations can be investigated through further research.

It is believed that the proposed hybrid uncertainty analysis method presents a robust and powerful tool for quantitative risk analysis, as both types of uncertainties are taken into account appropriately.

This study is a comment on Geoffrey Hodgson’s “Discovering Institutionalism: One Person’s Journey.” In this self-description of the evolution of his thought, Hodgson distinctly acknowledges Thorstein Veblen’s influence on his own institutional perspective. This is the issue that I explore in this study. My argument is that Hodgson can be understood as a Veblenian, but he does not fit in the Veblenian notion that became popular in the mid-twentieth century. I argue that Hodgson’s notion of habits is the strongest Veblen’s influence on him, and his reconstitutive downward and upward causations are in line with Veblen’s institutionalism, albeit without the mid-twentieth century Veblenian writings. I also address the approach to the content of habits as a break between Hodgson’s and Veblen’s institutionalism. By offering an unprecedented Veblenianism, I argue that Hodgson’s institutional economics can be understood as a new institutionalist segmentation.