Search results

1 – 10 of over 9000
Book part
Publication date: 14 March 2022

Teresa da Silva Lopes

This chapter proposes a framework which relates the Firm Specific Advantages (FSAs) of the multinational enterprise with the timing of entry in VUCA-type host environments

Abstract

This chapter proposes a framework which relates the Firm Specific Advantages (FSAs) of the multinational enterprise with the timing of entry in VUCA-type host environments, characterised by high volatility (V), uncertainty (U), complexity (C), and ambiguity (A), and which have become extraordinarily high risk. Drawing on historical evidence, in particular on Geoffrey Jones’ research - to whom this volume is dedicated - on the evolution of international business, it shows that in extraordinarily high-risk environments multinational enterprises need to have additional FSAs beyond those considered in the traditional FSAs/CSAs (country specific advantages/firm specific advantages) framework. The proposed framework distinguishes between prevention, mitigation, avoidance and withdrawal strategies carried out before and after entry in host markets that have become of extraordinary high risk.

Article
Publication date: 11 June 2018

Leif Christensen, Pall Rikhardsson, Carsten Rohde and Catherine Elisabet Batt

This paper aims to explore and explain how administrative controls have been changed as a response to a significant crisis, using the transition of the three largest Icelandic…

1301

Abstract

Purpose

This paper aims to explore and explain how administrative controls have been changed as a response to a significant crisis, using the transition of the three largest Icelandic banks from bankrupt to operational entities after the 2008 financial crisis. The Icelandic banks are compared with three Danish banks to separate crisis-driven responses from simple market-driven reactions.

Design/methodology/approach

Empirical data were collected using semi-structured interviews. The participating Icelandic and Danish banks were considered as two units, which formed the basis for a comparative case study between the two countries.

Findings

Driven by an understanding of what is expected by the market rather than the need to inform and guide the employees the Icelandic banks implemented a number of revolutionary and formally documented changes. These changes included significant bigger risk management functions and policies and procedures documenting “everything”. However, in both countries, it seems that new values supported by the “tone at the top”, areas with limited formal documentation, are the most important management tools.

Research limitations/implications

The study relies on interviews with employees, and the actual changes of administrative controls have not been reviewed. The most important implication is that the situated logics in Iceland driven by external institutional pressure initiated a revolutionary implementation of values bypassing existing routines and formalised rules.

Originality/value

Although the use of management controls has been studied intensively, detailed studies of the banking sector have been lacking. Furthermore, there is limited knowledge of how administrative controls changed in response to the financial crisis.

Details

Qualitative Research in Accounting & Management, vol. 15 no. 2
Type: Research Article
ISSN: 1176-6093

Keywords

Content available
Book part
Publication date: 14 March 2022

Abstract

Details

International Business in Times of Crisis: Tribute Volume to Geoffrey Jones
Type: Book
ISBN: 978-1-80262-164-8

Content available
Book part
Publication date: 14 March 2022

Abstract

Details

International Business in Times of Crisis: Tribute Volume to Geoffrey Jones
Type: Book
ISBN: 978-1-80262-164-8

Article
Publication date: 1 January 2004

Hervé Stolowy and Gaétan Breton

Accounts manipulation has been the subject of research, discussion and even controversy in several countries including the USA, Canada, the U.K., Australia, Finland and France…

4848

Abstract

Accounts manipulation has been the subject of research, discussion and even controversy in several countries including the USA, Canada, the U.K., Australia, Finland and France. The objective of this paper is to provide a comprehensive review of the literature and propose a conceptual framework for accounts manipulation. This framework is based on the possibility of wealth transfer between the different stake‐holders, and in practice, the target of the manipulation appears generally to be the earnings per share and the debt/equity ratio. The paper also describes the different actors involved and their potential gains and losses. We review the literature on the various techniques of accounts manipulation: earnings management, income smoothing, big bath accounting, creative accounting, and window‐dressing. The various definitions of all these, the main motivations behind their application and the research methodologies used are all examined. This study reveals that all the above techniques have common elements, but there are also important differences between them.

Details

Review of Accounting and Finance, vol. 3 no. 1
Type: Research Article
ISSN: 1475-7702

Article
Publication date: 4 April 2022

Linda H. Chen, George J. Jiang and Kevin X. Zhu

The purpose of this study is to investigate whether within the same firm, earnings risk is exacerbated in the fiscal year end (FYE) quarters relative to that of other quarters…

Abstract

Purpose

The purpose of this study is to investigate whether within the same firm, earnings risk is exacerbated in the fiscal year end (FYE) quarters relative to that of other quarters, more importantly, if this type of earnings risk is unique. Further, the authors discuss solutions to mitigate this type of information risk.

Design/methodology/approach

This study provides evidence that the information risk associated with FYE quarter earnings cannot be explained by other identified risk factors. Solutions to mitigate this risk include strong corporate governance and a more streamlined financial reporting structure.

Findings

The paper shows that there is significantly lower earnings response coefficient for FYE quarters than for non-FYE quarters (1984–2015). Furthermore, strong corporate governance and a more streamlined financial reporting structure, either by firms willingly reducing the usage of extraordinary item reporting or by FASB codification changes such as FASB 145, can help mitigate this type of information uncertainty.

Research limitations/implications

This study explains that the causes of the exacerbated information risk associated with FYE quarter earnings identified in prior literature, namely, the “integral explanation” and “manipulation explanation,” are not mutually exclusive. Therefore, the authors deem it futile to disentangle the two. Instead, the authors offer two possible solutions.

Details

Review of Accounting and Finance, vol. 21 no. 2
Type: Research Article
ISSN: 1475-7702

Keywords

Abstract

Details

Responsible Investment Around the World: Finance after the Great Reset
Type: Book
ISBN: 978-1-80382-851-0

Book part
Publication date: 27 June 2017

Terrill L. Frantz

The PMI Risk Framework (PRF) is introduced as a guide to classifying and identifying risks which can be the source of post-merger integration (PMI) failure — commonly referred to…

Abstract

The PMI Risk Framework (PRF) is introduced as a guide to classifying and identifying risks which can be the source of post-merger integration (PMI) failure — commonly referred to as “culture clash.” To provide managers with actionably insight, PRF dissects PMI risk into specific relationship-oriented phenomena, critical to outcomes and which should be addressed during PMI. This framework is a conceptual and theory-grounded integration of numerous perspectives, such as organizational psychology, group dynamics, social networks, transformational change, and nonlinear dynamics. These concepts are unified and can be acted upon by integration managers. Literary resources for further exploration into the underlying aspects of the framework are provided. The PRF places emphasis on critical facets of PMI, particularly those which are relational in nature, pose an exceptionally high degree of risk, and are recurrent sources of PMI failure. The chapter delves into relationship-oriented points of failure that managers face when overseeing PMI by introducing a relationship-based, PMI risk framework. Managers are often not fully cognizant of these risks, thus fail to manage them judiciously. These risks do not naturally abide by common scholarly classifications and cross disciplinary boundaries; they do not go unrecognized by scholars, but until the introduction of PRF the risks have not been assimilated into a unifying framework. This chapter presents a model of PMI risk by differentiating and specifying numerous types of underlying human-relationship-oriented risks, rather than considering PMI cultural conflict as a monolithic construct.

Article
Publication date: 25 April 2008

Pat Reid and Dewald van Niekerk

The promulgation of disaster management legislation and policy in South Africa necessitates the development of a uniform multi‐agency incident and disaster response system. This…

Abstract

Purpose

The promulgation of disaster management legislation and policy in South Africa necessitates the development of a uniform multi‐agency incident and disaster response system. This paper aims to argue that a uniform response by numerous government agencies in South Africa can only be achieved through the application of an accepted model, which is based on the requirements of the Disaster Management Act 57 of 2002 as well as the National Disaster Risk Management Framework of South Africa.

Design/methodology/approach

The model was developed using grounded theory methodology through the use of the internet and focus group interviews with South African as well as international experts. During the process of analysing the data by open and axial coding, key elements emerged which were then clustered into categories from which the core concepts of the model emerged. The emergent core concepts were then dimensionalised, which formed the major constructs of the model thereby ensuring that the model was grounded in the theory. Constant comparisons were drawn with the experiences in the field throughout the process in order to ensure theoretical sensitivity. During the process of axial coding certain intervening conditions emerged which could negatively or positively affect its application. The developed model was therefore subjected to scrutiny by means of a quantitative attitudinal test amongst senior professionals involved in the field of emergency and disaster management, resulting in triangulation.

Findings

The findings demonstrate that in order for the proposed model to be implemented effectively it is necessary to refine each level of response in terms of authority, communication and reporting lines.

Originality/value

This model can be used as the foundation for the development of a comprehensive response management system for South Africa and other similar countries, and that the model can further contribute to the development of a basic training module for inclusion in the curricula of response agency personnel.

Details

Disaster Prevention and Management: An International Journal, vol. 17 no. 2
Type: Research Article
ISSN: 0965-3562

Keywords

Article
Publication date: 25 February 2014

Benedetto Manganelli and Francesco Tajani

This paper aims to propose a management model of public assets within public-private partnerships which can be applied to properties subject to a possible requalification through…

Abstract

Purpose

This paper aims to propose a management model of public assets within public-private partnerships which can be applied to properties subject to a possible requalification through the redevelopment and/or modification of the intended use.

Design/methodology/approach

The logic developed is described by an algorithm which borrows the mathematical tools of Operations Research to identify the solution that maximises the utility functions of the parties related to the requalification and management of a public property. The unknowns of the model are the price and concession period, while the constraints reflect the specific and reciprocal conveniences of the actors involved.

Findings

The benefits for the private investor are a reduction of the business risk, related to the lower financial outlay required by the investment, and therefore easier access to credit from banks. For the public administration, an increase in the demand of the property offered, savings in the property management costs, along with the preservation of public property. This aspect of no small importance where there is the fear of breaking up public property which local communities attach a high cultural and historic value.

Practical implications

This leads to a logical support to public administrations involved in the requalification of property assets.

Originality/value

This paper presents a strategic approach with long-term prospects, which interprets in a different way a pure concession model, which has a greater flexibility and articulation and also enriches the framework of the projects (public-private) considered necessary for the requalification of public property as well as possible urban transformation projects.

Details

Journal of Property Investment & Finance, vol. 32 no. 2
Type: Research Article
ISSN: 1463-578X

Keywords

1 – 10 of over 9000