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Article
Publication date: 14 December 2020

Darren Fraser, Thando Mpikeleli and Theo Notteboom

Increased economic activity in sub-Saharan Africa (SSA) has given rise to increased demand for port development. Given the often scarce availability of national public funding…

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Abstract

Purpose

Increased economic activity in sub-Saharan Africa (SSA) has given rise to increased demand for port development. Given the often scarce availability of national public funding, port institutional reform programmes have been implemented to pave the way for the inclusion of external port investors. Notwithstanding this fact, some sub-Saharan African Governments remain institutionally locked into the notion that state-owned enterprises remain an appropriate vehicle for port terminal operations. This, despite the fact that terminal operational concessions globally and within the continent of Africa are increasingly being managed by global terminal operators. Given this context, this study aims to evaluate different port valuation and funding strategies. Two research questions form the core of this research: what is the financial value of a concession? What is the most cost advantageous funding strategy? The methodology is applied to the development of a two-berth container terminal in SSA.

Design/methodology/approach

After reviewing a range of financial valuation and funding techniques, the study presents valuation and funding model applicability-fit tests. Thereafter, a suitable valuation technique is selected and applied to the case study providing a concession valuation. Different funding strategies are applied to the valuation model to determine the cost implications of each funding instrument given the local context and institutional constraints applicable to SSA. Finally, the study discusses the significance of the results to potential SSA port investors by highlighting the impact of each funding approach on key financial metrics.

Findings

The study presents a range of financial investment appraisal results for the case study concession in consideration of four specific funding strategies. The highest concession valuation could be attributed to a higher debt ratio as a principal funding strategy. In addition, this funding approach (100% debt) realised the shortest payback period and the highest internal rate of return values. The authors, however, maintain that the optimal funding strategy for a concession depends ultimately on the financial goals of the investor.

Originality/value

This research makes a contribution to the existing literature on port finance and development by presenting a structured approach to the evaluation of the valuation and funding techniques, which can be used in terminal development subject to the specific local context and institutional constraints (in this case applicable to SSA). The study provides practical insight into the potential cost of the considered terminal concession for private or public sector participants and a view of the most cost advantageous funding strategy available for interested investors.

Details

Maritime Business Review, vol. 6 no. 2
Type: Research Article
ISSN: 2397-3757

Keywords

Book part
Publication date: 31 October 2017

Darren McCauley

Injustice is perceived, experienced and articulated. Social movements, and their constitutive parts, frame and re-frame these senses of injustice. Two often-overlapping accounts…

Abstract

Injustice is perceived, experienced and articulated. Social movements, and their constitutive parts, frame and re-frame these senses of injustice. Two often-overlapping accounts of social movements are in focus in this chapter. Human geography has been flooded with movement-based analyses of environmental justice (EJ). Sociology (more appropriately political sociology) has provided insight into social movements in the form of ‘contentious politics’ (CP). Building on both sets of literature, this chapter seeks to advance thought in human geography through a detailed exploration of master and collective action framing. It argues, firstly, that framing analysis challenges activist researchers to retain ‘spatial constructs’ as their central focus, rather than discourse. It calls, secondly, for us to unbind injustice as much as justice in our analysis of framing. And lastly, it demands a multi-spatial perspective on framing beyond simply scalar accounts.

Details

Environmental Criminology
Type: Book
ISBN: 978-1-78743-377-9

Keywords

Open Access
Article
Publication date: 20 November 2020

Viet Anh Hoang, Man Dang, Ngoc Vu Nguyen, Ngoc Thang Nguyen and Darren Henry

The purpose of this paper is to investigate the effects of cross-country characteristics on acquirers' target status choice in cross-border mergers and acquisitions across 41…

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Abstract

Purpose

The purpose of this paper is to investigate the effects of cross-country characteristics on acquirers' target status choice in cross-border mergers and acquisitions across 41 emerging markets.

Design/methodology/approach

The paper first reviews the existing literature and develops the related hypotheses, in conjunction with the objectives of this paper. We then describe the data employed, variable measurement and examine the effects of cross-country characteristics on the acquirers' target status choice in cross-border mergers and acquisitions while controlling for firm-level and deal-specific characteristics. The paper continues to conduct the robustness check on cross-country determinants of target status choices using the difference independent variables rather than target country-level variables only.

Findings

This research found that the likelihood of a public firm acquired relative to private one is higher if the target firm is located in countries with stronger government quality, weaker economic freedom, better financial market development and lower cultural distance between the host and home countries. The results suggest that bidders actively assess cross-country characteristics as part of their acquisition planning.

Originality/value

Rather than commonly analysed determinants in the previous research such as firm- and deal-specific attributes, value creation and shareholder protection, this paper indicates that institutional environments and economic conditions are closely associated with acquisition risks and benefits and have direct influences on bidder firms' acquisition bidding planning and target choice decision-making.

Details

Journal of Economics and Development, vol. 23 no. 2
Type: Research Article
ISSN: 1859-0020

Keywords

Article
Publication date: 1 June 2001

Thomas Jackson, Ray Dawson and Darren Wilson

The use of email by employees at the Danwood Group was studied and it was found that the interrupt effect from emails is more than generally believed. Employees allowed themselves…

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Abstract

The use of email by employees at the Danwood Group was studied and it was found that the interrupt effect from emails is more than generally believed. Employees allowed themselves to be interrupted almost as frequently as telephone calls and the common reaction to the arrival of an email is to react almost as quickly as they would respond to telephone calls. This means the interrupt effect is comparable with that of a telephone call. The recovery time from an email interruption was found to be significantly less than the published recovery time for telephone calls. It is to be concluded, therefore, that while Email is still less disruptive than the telephone, the way the majority of users handle their incoming email has been shown to give far more interruption than expected. By analysing the data captured the authors have been able to create recommendations for a set of guidelines for email usage within the workplace that will increase employee efficiency by reducing the prominence of interruptions, restricting the use of email‐to‐all messages, setting‐up the email application to display three lines of the email and to check for email less frequently. It is recommended that training should be given to staff on how to use email more effectively to increase employee productivity.

Details

Journal of Systems and Information Technology, vol. 5 no. 1
Type: Research Article
ISSN: 1328-7265

Keywords

Content available
Book part
Publication date: 18 December 2016

Abstract

Details

The Crisis of Race in Higher Education: A Day of Discovery and Dialogue
Type: Book
ISBN: 978-1-78635-710-6

Content available
Article
Publication date: 21 March 2008

517

Abstract

Details

Journal of Accounting & Organizational Change, vol. 4 no. 1
Type: Research Article
ISSN: 1832-5912

Article
Publication date: 31 August 2022

Pratibha Maan and Dinesh Kumar Srivastava

The study aims to define the term “generation” by proposing an integrated design based on age-period-cohort effects and by proposing an Indian generational cohort framework…

Abstract

Purpose

The study aims to define the term “generation” by proposing an integrated design based on age-period-cohort effects and by proposing an Indian generational cohort framework categorizing Indian generational cohorts into four categories, namely, Baby Boomers, GenX, GenY, and GenZ. The study further aimed to capture the existing generational differences between GenY and GenZ cohorts in the Indian teams on team climate, transactive memory system, and team leader humility.

Design/methodology/approach

For the first two objectives a literature review methodology along with the author's proposition was adopted. An integrated design was proposed by reviewing the relevant sociological literature to define generations. Thereafter, an Indian cohort framework was proposed categorizing them into four groups Baby Boomers, GenX, GenY, and GenZ. Following that, for the last objective, i.e. to identify the differences between cohorts, empirical data were collected by a structured questionnaire that was disseminated to GenY and GenZ Indian working professionals. A total of 229 responses were used for observing the differences or similarities between GenY and GenZ cohorts on the study variables by employing an independent samples t-test.

Findings

The study proposed an integrated design (age, period, and cohort effect). Following that, an Indian generational cohort's framework has been outlined categorizing Indian cohorts based on their birth years, age groups, developmental stages, formative years, major Indian historical events, and various characteristics possessed by them. Moreover, the empirical findings support the existing generational disparities and depict that GenZ holds a higher inclination towards transactive memory systems and team climate whereas GenY holds more inclination toward leader humility.

Practical implications

The study put forth its contribution to research scholars by categorizing Indian generational cohorts in a rationalized manner based on an integrated design (age-period-cohort) effect. The study would further assist concerned authorities and managers in formulating HR policies to deal with the underlying generational differences highlighted by the study.

Originality/value

As there lies a paucity of generational frameworks in the Indian context, this study is the first attempt in this direction which categorizes Indian generational cohorts based on a unique integrated design including age-period-cohort effects. In addition, the study also investigated these cohorts in Indian organizations to observe the existing variations.

Details

Benchmarking: An International Journal, vol. 30 no. 9
Type: Research Article
ISSN: 1463-5771

Keywords

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