Search results1 – 10 of over 1000
The main objective of this study is to examine whether firms follow the financing hierarchy as suggested by the Pecking Order Theory (POT). The External Funds Needed (EFN…
The main objective of this study is to examine whether firms follow the financing hierarchy as suggested by the Pecking Order Theory (POT). The External Funds Needed (EFN) model offers a financing hierarchy that can be used for examining the POT. As far as the EFN considers growth of sales as a driver for changing capital structure, it follows that shall firms plan for a sustainable growth of sales, a sustainable financing can be reached and maintained. This study uses data about the firms listed in two indexes: Dow Jones Industrial Average (DJIA30) and NASDAQ100. The data cover quarterly periods from June 30, 1999, to March 31, 2012. The methodology includes (a) cointegration analysis in order to test for model specification and (b) causality analysis in order to show the generic and mutual associations between the components of EFN. The results conclude that (a) in the majority of the cases, firms plan for an increase in growth sales but not necessarily to approach sustainable rate; (b) in cases of observed and sustainable growth of sales, firms reduce debt financing persistently; (c) firms use equity financing to finance sustainable growth of sales in the long run only, while in the short run, firms use internal financing, that is, retained earnings as a flexible source of financing; and (d) the EFN model is quite useful for examining the hierarchy of financing. This study contributes to the related literature in terms of utilizing the properties of the EFN model in order to examine the practical aspects of the POT. These practical considerations are extended to examine the use of the POT in cases of observed and sustainable growth rates. The findings contribute to the current literature that there is a need to offer an adjustment to the financing order suggested by the POT. Equity financing is the first source of financing current and sustainable growth of sales, followed by retained earnings, and debt financing is the last resort.
How do managers, in their role as decision makers, design and implement systems for management of quality? Proposes that there is no one, definitive answer to this…
How do managers, in their role as decision makers, design and implement systems for management of quality? Proposes that there is no one, definitive answer to this question, given various industrial environments and their operating constraints, diverse market conditions and numerous management philosophies. Attempts to address quality management issues in the business‐to‐business industrial service industry by presenting a case study on the quality management approach taken by Diamond Offshore Drilling, Inc. ‐ one of the largest offshore oil‐drilling companies in the world. States that the business‐to‐business industrial service markets are characterized by the sale of industrial services to business customers, who often then use these services to produce goods or services for consumers or other businesses. A wide variety of services are provided by the companies operating in this industry, such as offshore oil‐drilling and exploration, warehousing and public utilities. The case study follows the backdrop, initiation and complete implementation of Diamond Offshore’s Global Excellence in Management Systems (GEMS) programme. GEMS can be characterized as a system deeply rooted in the basics of quality management ‐ customer‐defined requirements and quality through customer satisfaction. Also discusses post‐implementation customer feedback results to illustrate the success of the programme. Based on the GEMS framework and relevant literature, proposes a generalized framework for implementing quality management in firms operating in business‐to‐business industrial service markets.
WITH the Pompey doldrum in mind, many misgivings were expressed about the Rothesay conference as the delegated gravy trains raced north to Glasgow. (Incidentally Sir Brian Robertson will find comfort in our belief that rail travel is the most satisfying way to attend conference with corridor exchanges and dining car badinage shortening the long haul).
With the Pompey doldrum in mind, many misgivings were expressed about the Rothesay conference as the delegated gravy trains raced north to Glasgow. (Incidentally Sir Brian Robertson will find comfort in our belief that rail travel is the most satisfying way to attend conference with corridor exchanges and dining car badinage shortening the long haul).
Conventional wisdom holds that the art of dance is strictly and in all its aspects a phenomenon of the moment, something adequately captured by pictorial means only, and…
Conventional wisdom holds that the art of dance is strictly and in all its aspects a phenomenon of the moment, something adequately captured by pictorial means only, and not by the written word. Reading and writing are thought to have little or nothing to do with the ephemeral magic of the art of dance. This attitude has its roots in a time before film and video technologies made more possible the vivid preservation of choreography; it also has its roots in a time before the importance of preserving our unique modern dance heritage became fully evident.
Allegations of excessive force in policing have been cited as one of the most frequent claims filed against the police in arrest situations. The United States Supreme…
Allegations of excessive force in policing have been cited as one of the most frequent claims filed against the police in arrest situations. The United States Supreme Court in Graham v. Connor (1989) determined that “objective reasonableness” is the Fourth Amendment standard to be used in evaluating claims of excessive force. This paper analyzes the patterns of lower federal court decisions in 1,200 published Section 1983 cases decided from 1989 to 1999. The assessment examines how these courts have applied and interpreted the standard in four categories involving force. Policy and training issues are discussed and future research concerns are presented.
The purpose of this paper is to examine the significant contributions of Lillian M. Gilbreth through the lens of critical biography to put her work in the context of her…
The purpose of this paper is to examine the significant contributions of Lillian M. Gilbreth through the lens of critical biography to put her work in the context of her life events, her key roles, the turning points in her life and the societal context within which her contributions to management thought were made.
Critical biography examines the interaction of a person’s life events with the social, economic and political contexts surrounding his or her life and draws inferences as to why the person made specific decisions and contributions.
Key contributions to management thought made by Lillian M. Gilbreth are linked to her biographical events, including the multiple roles she played as daughter, student, wife, mother, author, engineer, psychologist, breadwinner, domestic scientist and teacher. Various turning points in her life are identified, including being allowed to go to college, taking her first psychology course, marrying Frank Gilbreth, publishing Fatigue Studies and Frank’s death. Key societal factors that influenced Gilbreth’s contributions were the growing interest in scientific management, the status of women and the increased interest in domestic science.
The qualitative technique of critical biography is demonstrated as a useful methodology for examining individual contributions to management history. The authors acknowledge the limitation of subjective interpretation.
The reasons behind Lillian Gilbreth’s contributions, which were considered a precursor to the human relations era, are extrapolated from this research.
The influence of social context is examined, as it pertains to the life and work of Lillian Gilbreth.
This paper provides a critical biography of Lillian M. Gilbreth and her work within the context of her life and times.
Despite growing attention to physician engagement there is a lack of literature to guide the development of physician-led interventions. A scoping review was conducted to…
Despite growing attention to physician engagement there is a lack of literature to guide the development of physician-led interventions. A scoping review was conducted to describe physician-led strategies that have been implemented to promote increased physician engagement in acute care settings. Strategies are viewed through the theoretical lens of institutional work to advance the understanding about how the theory can be applied. The paper aims to discuss this issue.
Searches were conducted in English-language publications (2012–2017). Of 35 retained articles, 15 were from the gray literature; and 20 were peer reviewed. The review was guided by Arskey and O’Malley’s (2005) five-stage process.
Five themes reflecting different foci of physician-led activity were examined from the perspective of institutional work: systematically analyze context using participatory methods; work collaboratively toward locally defined, shared targets and build in processes to monitor progress; expand physicians’ role and capacity to include leadership toward shared organizational goals; promote appropriate rewards and incentives for work that builds engagement; and invest in opportunities for formal and informal communication and interaction.
Physicians considering action to increase their engagement in system improvement may benefit from analysis of local opportunities and barriers in selecting context-relevant activities that will motivate participation and build engagement through a balance of institutional work.
The paper considers the potential for physicians to initiate and support activity that will increase their engagement. It provides pragmatic strategies for designing intervention and research using the theoretical lens of institutional work.
President Bill Clinton has had many opponents and enemies, most of whom come from the political right wing. Clinton supporters contend that these opponents, throughout the…
President Bill Clinton has had many opponents and enemies, most of whom come from the political right wing. Clinton supporters contend that these opponents, throughout the Clinton presidency, systematically have sought to undermine this president with the goal of bringing down his presidency and running him out of office; and that they have sought non‐electoral means to remove him from office, including Travelgate, the death of Deputy White House Counsel Vincent Foster, the Filegate controversy, and the Monica Lewinsky matter. This bibliography identifies these and other means by presenting citations about these individuals and organizations that have opposed Clinton. The bibliography is divided into five sections: General; “The conspiracy stream of conspiracy commerce”, a White House‐produced “report” presenting its view of a right‐wing conspiracy against the Clinton presidency; Funding; Conservative organizations; and Publishing/media. Many of the annotations note the links among these key players.
A collection of essays by a social economist seeking to balanceeconomics as a science of means with the values deemed necessary toman′s finding the good life and society…
A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.